Document:

Exhibit 10.2

 

INDEMNITY AGREEMENT

 

THIS INDEMNITY AGREEMENT (this “Agreement”)
is made as of August 19, 2021, by and between Health Assurance Acquisition Corp., a Delaware corporation (the “Company”),
and the undersigned (“Indemnitee”).

 

RECITALS

 

WHEREAS, highly competent persons have become
more reluctant to serve publicly-held corporations as directors, officers or in other capacities unless they are provided with adequate
protection through insurance or adequate indemnification against inordinate risks of claims and actions against them arising out of their
service to and activities on behalf of such corporations;

 

WHEREAS, the Board of Directors of the Company
(the “Board”) has determined that, in order to attract and retain qualified individuals, the Company will attempt
to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving the Company and its subsidiaries
from certain liabilities. Directors, officers and other persons in service to corporations or business enterprises are being increasingly
subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally would have been brought
only against the Company or business enterprise itself.  The Amended and Restated Certificate of Incorporation (the “Charter”)
and the Amended and Restated Bylaws (the “Bylaws”) of the Company require indemnification of the officers and
directors of the Company. Indemnitee may also be entitled to indemnification pursuant to applicable provisions of the Delaware General
Corporation Law (“DGCL”). The Charter, Bylaws and the DGCL expressly provide that the indemnification provisions
set forth therein are not exclusive, and thereby contemplate that contracts may be entered into between the Company and members of the
Board, officers and other persons with respect to indemnification, hold harmless, exoneration, advancement and reimbursement rights;

 

WHEREAS, the uncertainties relating to such
insurance and to indemnification have increased the difficulty of attracting and retaining such persons;

 

WHEREAS, the Board has determined that the
increased difficulty in attracting and retaining such persons is detrimental to the best interests of the Company’s stockholders
and that the Company should act to assure such persons that there will be increased certainty of such protection in the future;

 

WHEREAS, it is reasonable, prudent and necessary
for the Company contractually to obligate itself to indemnify, hold harmless, exonerate and to advance expenses on behalf of, such persons
to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that
they will not be so protected against liabilities;

 

WHEREAS, this Agreement is a supplement
to and in furtherance of the Charter and Bylaws of the Company and any resolutions adopted pursuant thereto, and shall not be deemed a
substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder;

 

WHEREAS, Indemnitee may not be
willing to serve as an officer or director, advisor or in another capacity without adequate protection, and the Company desires
Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service for or on
behalf of the Company on the condition that he or she be so indemnified; and

 

     

     

    

 

NOW, THEREFORE, in consideration of the
premises and the covenants contained herein and subject to the provisions of the letter agreement dated as of August 19, 2021, the Company
and Indemnitee do hereby covenant and agree as follows:

 

TERMS AND CONDITIONS

 

1.            
SERVICES TO THE COMPANY. In consideration of the Company’s covenants and obligations hereunder, Indemnitee will
serve or continue to serve as an officer, director, advisor, key employee or any other capacity of the Company, as applicable, for so
long as Indemnitee is duly elected or appointed or retained or until Indemnitee tenders his or her resignation or until Indemnitee is
removed. The foregoing notwithstanding, this Agreement shall continue in full force and effect after Indemnitee has ceased to serve as
a director, officer, advisor, key employee or in any other capacity of the Company, as provided in Section 17. This Agreement, however,
shall not impose any obligation on Indemnitee or the Company to continue Indemnitee’s service to the Company beyond any period otherwise
required by law or by other agreements or commitments of the parties, if any.

 

2.            
DEFINITIONS. As used in this Agreement:

 

(a)              
References to “agent” shall mean any person who is or was a director, officer or employee of the Company
or a subsidiary of the Company or other person authorized by the Company to act for the Company, to include such person serving in such
capacity as a director, officer, employee, fiduciary or other official of another corporation, partnership, limited liability company,
joint venture, trust or other enterprise at the request of, for the convenience of, or to represent the interests of the Company or a
subsidiary of the Company.

 

(b)              
The terms “Beneficial Owner” and “Beneficial Ownership” shall have the meanings
set forth in Rule 13d-3 promulgated under the Exchange Act (as defined below) as in effect on the date hereof.

 

(c)              
A “Change in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement
of any of the following events:

 

(i)                
Acquisition of Stock by Third Party. Other than an affiliate or member of HAAC Sponsor, LLC (the “Sponsor”),
any Person (as defined below) is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing fifteen
percent (15%) or more of the combined voting power of the Company’s then outstanding securities entitled to vote generally in the
election of directors, unless (1) the change in the relative Beneficial Ownership of the Company’s securities by any Person
results solely from a reduction in the aggregate number of outstanding shares of securities entitled to vote generally in the election
of directors, or (2) such acquisition was approved in advance by the Continuing Directors (as defined below) and such acquisition
would not constitute a Change in Control under part (iii) of this definition;

 

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(ii)             
 Change in Board of Directors. Individuals who, as of the date hereof, constitute the Board, and any new director whose
election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two thirds of
the directors then still in office who were directors on the date hereof or whose election or nomination for election was previously so
approved (collectively, the “Continuing Directors”), cease for any reason to constitute at least a majority
of the members of the Board;

 

(iii)           
Corporate Transactions. The effective date of a merger, capital stock exchange, asset acquisition, stock purchase, reorganization
or similar business combination, involving the Company and one or more businesses (a “Business Combination”),
in each case, unless, following such Business Combination: (1) all or substantially all of the individuals and entities who were
the Beneficial Owners of securities entitled to vote generally in the election of directors immediately prior to such Business Combination
beneficially own, directly or indirectly, more than 50% of the combined voting power of the then outstanding securities of the Company
entitled to vote generally in the election of directors resulting from such Business Combination (including, without limitation, a corporation
which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through
one or more Subsidiaries (as defined below)) in substantially the same proportions as their ownership immediately prior to such Business
Combination, of the securities entitled to vote generally in the election of directors; (2) other than a member or affiliate of the
Sponsor, no Person (excluding any corporation resulting from such Business Combination) is the Beneficial Owner, directly or indirectly,
of 15% or more of the combined voting power of the then outstanding securities entitled to vote generally in the election of directors
of the surviving corporation except to the extent that such ownership existed prior to the Business Combination; and (3) at least
a majority of the Board of Directors of the corporation resulting from such Business Combination were Continuing Directors at the time
of the execution of the initial agreement, or of the action of the Board of Directors, providing for such Business Combination;

 

(iv)            
Liquidation. The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement or
series of agreements for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than
factoring the Company’s current receivables or escrows due (or, if such stockholder approval is not required, the decision by the
Board to proceed with such a liquidation, sale, or disposition in one transaction or a series of related transactions); or

 

(v)              
Other Events. There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of
Schedule 14A of Regulation 14A (or any successor rule) (or a response to any similar item on any similar schedule or form) promulgated
under the Exchange Act (as defined below), whether or not the Company is then subject to such reporting requirement.

 

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(d)              
 “Corporate Status” describes the status of a person who is or was a director, officer, trustee, general
partner, manager, managing member, fiduciary, employee or agent of the Company or of any other Enterprise (as defined below) which such
person is or was serving at the request of the Company.

 

(e)              
“Delaware Court” shall mean the Court of Chancery of the State of Delaware.

 

(f)               
“Disinterested Director” shall mean a director of the Company who is not and was not a party to the Proceeding
(as defined below) in respect of which indemnification is sought by Indemnitee.

 

(g)              
“Enterprise” shall mean the Company and any other corporation, constituent corporation (including any
constituent of a constituent) absorbed in a consolidation or merger to which the Company (or any of its wholly owned subsidiaries) is
a party, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is
or was serving at the request of the Company as a director, officer, trustee, general partner, managing member, fiduciary, employee or
agent.

 

(h)              
“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

 

(i)                
“Expenses” shall include all direct and indirect costs, fees and expenses of any type or nature whatsoever,
including, without limitation, all reasonable attorneys’ fees and costs, retainers, court costs, transcript costs, fees of experts,
witness fees, travel expenses, fees of private investigators and professional advisors, duplicating costs, printing and binding costs,
telephone charges, postage, delivery service fees, fax transmission charges, secretarial services and all other disbursements, obligations
or expenses in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness
in, settlement or appeal of, or otherwise participating in, a Proceeding (as defined below), including reasonable compensation for time
spent by Indemnitee for which he or she is not otherwise compensated by the Company or any third party. Expenses also shall include Expenses
incurred in connection with any appeal resulting from any Proceeding (as defined below), including without limitation the principal, premium,
security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent. Expenses, however,
shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.

 

(j)                
References to “fines” shall include any excise tax assessed on Indemnitee with respect to any employee
benefit plan; references to “serving at the request of the Company” shall include any service as a director, officer,
employee, agent or fiduciary of the Company which imposes duties on, or involves services by, such director, officer, employee, agent
or fiduciary with respect to an employee benefit plan, its participants or beneficiaries; and if Indemnitee acted in good faith and in
a manner Indemnitee reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan, Indemnitee
shall be deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to in this
Agreement.

 

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(k)              
 “Independent Counsel” shall mean a law firm or a member of a law firm with significant experience in
matters of corporate law and that neither presently is, nor in the past five years has been, retained to represent: (i) the Company
or Indemnitee in any matter material to either such party (other than with respect to matters concerning Indemnitee under this Agreement,
or of other indemnitees under similar indemnification agreements); or (ii) any other party to the Proceeding (as defined below) giving
rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include
any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing
either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.

 

(l)                
The term “Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange
Act as in effect on the date hereof; provided, however, that “Person” shall exclude: (i) the Company; (ii) any Subsidiaries
(as defined below) of the Company; (iii) any employment benefit plan of the Company or of a Subsidiary (as defined below) of the
Company or of any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions
as their ownership of stock of the Company; and (iv) any trustee or other fiduciary holding securities under an employee benefit
plan of the Company or of a Subsidiary (as defined below) of the Company or of a corporation owned directly or indirectly by the stockholders
of the Company in substantially the same proportions as their ownership of stock of the Company.

 

(m)            
The term “Proceeding” shall include any threatened, pending or completed action, suit, arbitration, mediation,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding,
whether brought in the right of the Company or otherwise and whether of a civil (including intentional or unintentional tort claims),
criminal, administrative or investigative or related nature, in which Indemnitee was, is, will or might be involved as a party or otherwise
by reason of the fact that Indemnitee is or was a director or officer of the Company, by reason of any action (or failure to act) taken
by him or her or of any action (or failure to act) on his or her part while acting as a director or officer of the Company, or by reason
of the fact that he or she is or was serving at the request of the Company as a director, officer, trustee, general partner, managing
member, fiduciary, employee or agent of any other Enterprise, in each case whether or not serving in such capacity at the time any liability
or expense is incurred for which indemnification, reimbursement, or advancement of expenses can be provided under this Agreement.

 

(n)              
The term “Subsidiary,” with respect to any Person, shall mean any corporation, limited liability company,
partnership, joint venture, trust or other entity of which a majority of the voting power of the voting equity securities or equity interest
is owned, directly or indirectly, by that Person.

 

(o)               
The phrase “to the fullest extent permitted by applicable law” shall include, but not be limited to: (a) to the fullest
extent authorized or permitted by the provision of the DGCL that authorizes or contemplates additional indemnification by agreement,
or the corresponding provision of any amendment to or replacement of the DGCL, and (b) to the fullest extent authorized or permitted
by any amendments to or replacements of the DGCL adopted after the date of this Agreement that increase the extent to which a
corporation may indemnify its officers and directors.

 

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3.            
INDEMNITY IN THIRD-PARTY PROCEEDINGS. To the fullest extent permitted by applicable law, the Company shall indemnify, hold
harmless and exonerate Indemnitee in accordance with the provisions of this Section 3 if Indemnitee was, is, or is threatened to
be made, a party to or a participant (as a witness, deponent or otherwise) in any Proceeding, other than a Proceeding by or in the right
of the Company to procure a judgment in its favor by reason of Indemnitee’s Corporate Status. Pursuant to this Section 3, Indemnitee
shall be indemnified, held harmless and exonerated against all Expenses, judgments, liabilities, fines, penalties and amounts paid in
settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments,
fines, penalties and amounts paid in settlement) actually, and reasonably incurred by Indemnitee or on his or her behalf in connection
with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he or she reasonably believed
to be in or not opposed to the best interests of the Company and, in the case of a criminal Proceeding, had no reasonable cause to believe
that his or her conduct was unlawful; provided, in no event shall Indemnitee be entitled to be indemnified, held harmless or advanced
any amounts hereunder in respect of any Expenses, judgments, liabilities, fines, penalties and amounts paid in settlement (if any) that
Indemnitee may incur by reason of his or her own actual fraud or intentional misconduct. Indemnitee shall not be found to have committed
actual fraud or intentional misconduct for any purpose of this Agreement unless or until a court of competent jurisdiction shall have
made a finding to that effect.

 

4.            
INDEMNITY IN PROCEEDINGS BY OR IN THE RIGHT OF THE COMPANY. To the fullest extent permitted by applicable law, the Company
shall indemnify, hold harmless and exonerate Indemnitee in accordance with the provisions of this Section 4 if Indemnitee was, is,
or is threatened to be made, a party to or a participant (as a witness, deponent or otherwise) in any Proceeding by or in the right of
the Company to procure a judgment in its favor by reason of Indemnitee’s Corporate Status. Pursuant to this Section 4, Indemnitee
shall be indemnified, held harmless and exonerated against all Expenses actually and reasonably incurred by him or her or on his or her
behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he
or she reasonably believed to be in or not opposed to the best interests of the Company. No indemnification, hold harmless or exoneration
for Expenses shall be made under this Section 4 in respect of any claim, issue or matter as to which Indemnitee shall have been finally
adjudged by a court to be liable to the Company, unless and only to the extent that any court in which the Proceeding was brought or the
Delaware Court shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the
case, Indemnitee is fairly and reasonably entitled to indemnification, to be held harmless or to exoneration.

 

5.             INDEMNIFICATION
FOR EXPENSES OF A PARTY WHO IS WHOLLY OR PARTLY SUCCESSFUL. Notwithstanding any other provisions of this Agreement except for
Section 27, to the extent that Indemnitee was or is, by reason of Indemnitee’s Corporate Status, a party to (or a
participant in) and is successful, on the merits or otherwise, in any Proceeding or in defense of any claim, issue or matter
therein, in whole or in part, the Company shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and
exonerate Indemnitee against all Expenses actually and reasonably incurred by him or her in connection therewith. If Indemnitee is
not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims,
issues or matters in such Proceeding, the Company shall, to the fullest extent permitted by applicable law, indemnify, hold harmless
and exonerate Indemnitee against all Expenses actually and reasonably incurred by him or her or on his or her behalf in connection
with each successfully resolved claim, issue or matter. If Indemnitee is not wholly successful in such Proceeding, the Company also
shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee against all Expenses
reasonably incurred in connection with a claim, issue or matter related to any claim, issue, or matter on which Indemnitee was
successful. For purposes of this Section and without limitation, the termination of any claim, issue or matter in such a
Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

 

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6.            
INDEMNIFICATION FOR EXPENSES OF A WITNESS. Notwithstanding any other provision of this Agreement except for Section 27,
to the extent that Indemnitee is, by reason of his or her Corporate Status, a witness or deponent in any Proceeding to which Indemnitee
was or is not a party or threatened to be made a party, he or she shall, to the fullest extent permitted by applicable law, be indemnified,
held harmless and exonerated against all Expenses actually and reasonably incurred by him or her or on his or her behalf in connection
therewith.

 

7.            
ADDITIONAL INDEMNIFICATION, HOLD HARMLESS AND EXONERATION RIGHTS. Notwithstanding any limitation in Sections 3, 4, or 5,
subject to Section 27, the Company shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate
Indemnitee if Indemnitee is a party to or threatened to be made a party to any Proceeding (including a Proceeding by or in the right of
the Company to procure a judgment in its favor) against all Expenses, judgments, fines, penalties and amounts paid in settlement (including
all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, fines, penalties
and amounts paid in settlement) actually and reasonably incurred by Indemnitee in connection with the Proceeding. No indemnification,
hold harmless or exoneration rights shall be available under this Section 7 on account of Indemnitee’s conduct which constitutes
a breach of Indemnitee’s duty of loyalty to the Company or its stockholders or is an act or omission not in good faith or which
involves intentional misconduct or a knowing violation of the law.

 

8.            
CONTRIBUTION IN THE EVENT OF JOINT LIABILITY.

 

(a)              
To the fullest extent permissible under applicable law, if the indemnification, hold harmless and/or exoneration rights provided
for in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever, the Company, in lieu of indemnifying,
holding harmless or exonerating Indemnitee, shall pay, in the first instance, the entire amount incurred by Indemnitee, whether for judgments,
liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses, in connection with any Proceeding without
requiring Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right of contribution it may have
at any time against Indemnitee.

 

(b)              
The Company shall not enter into any settlement of any Proceeding in which the Company is jointly liable with Indemnitee (or would
be if joined in such Proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee.

 

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(c)              
 The Company hereby agrees to fully indemnify, hold harmless and exonerate Indemnitee from any claims for contribution which may
be brought by officers, directors or employees of the Company other than Indemnitee who may be jointly liable with Indemnitee.

 

9.            
EXCLUSIONS. Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement to
make any indemnification, advance expenses, hold harmless or exoneration payment in connection with any claim made against Indemnitee:

 

(a)              
for which payment has actually been received by or on behalf of Indemnitee under any insurance policy or other indemnity or advancement
provision, except with respect to any excess beyond the amount actually received under any insurance policy, contract, agreement, other
indemnity or advancement provision or otherwise;

 

(b)              
for an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company
within the meaning of Section 16(b) of the Exchange Act (or any successor rule) or similar provisions of state statutory law
or common law; or

 

(c)              
except as otherwise provided in Sections 14(f) and (g) hereof, prior to a Change in Control, in connection with any Proceeding
(or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee
against the Company or its directors, officers, employees or other indemnitees, unless (i) the Board authorized the Proceeding (or
any part of any Proceeding) prior to its initiation or (ii) the Company provides the indemnification, hold harmless or exoneration
payment, in its sole discretion, pursuant to the powers vested in the Company under applicable law.

 

10.          
ADVANCES OF EXPENSES; DEFENSE OF CLAIM.

 

(a)               Notwithstanding
any provision of this Agreement to the contrary except for Section 27, and to the fullest extent not prohibited by applicable law,
the Company shall pay the Expenses incurred by Indemnitee (or reasonably expected by Indemnitee to be incurred by Indemnitee within
three months) in connection with any Proceeding within ten (10) days after the receipt by the Company of a statement or
statements requesting such advances from time to time, prior to the final disposition of any Proceeding. Advances shall, to the
fullest extent permitted by law, be unsecured and interest free. Advances shall, to the fullest extent permitted by law, be made
without regard to Indemnitee’s ability to repay the Expenses and without regard to Indemnitee’s ultimate entitlement to
be indemnified, held harmless or exonerated under the other provisions of this Agreement. Advances shall include any and all
reasonable Expenses incurred pursuing a Proceeding to enforce this right of advancement, including Expenses incurred preparing and
forwarding statements to the Company to support the advances claimed. To the fullest extent required by applicable law, such
payments of Expenses in advance of the final disposition of the Proceeding shall be made only upon the Company’s receipt of an
undertaking, by or on behalf of Indemnitee, to repay the advanced amounts to the extent that it is ultimately determined that
Indemnitee is not entitled to be indemnified by the Company under the provisions of this Agreement, the Charter, the Bylaws of the
Company, applicable law or otherwise. If it shall be determined by a final judgment or other final adjudication that Indemnitee was
not so entitled to indemnification, any advancement shall be returned to the Company (without interest) by the Indemnitee. This
Section 10(a) shall not apply to any claim made by Indemnitee for which an indemnification, hold harmless or exoneration
payment is excluded pursuant to Section 9 but shall apply to any Proceeding referenced in Section 9(b) prior to a final
determination that Indemnitee is liable therefor.

 

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(b)              
The Company will be entitled to participate in the Proceeding at its own expense.

 

(c)              
The Company shall not settle any action, claim or Proceeding (in whole or in part) which would impose any Expense, judgment, fine,
penalty or limitation on Indemnitee without Indemnitee’s prior written consent.

 

11.          
PROCEDURE FOR NOTIFICATION AND APPLICATION FOR INDEMNIFICATION.

 

(a)              
Indemnitee agrees to notify promptly the Company in writing upon being served with any summons, citation, subpoena, complaint,
indictment, information or other document relating to any Proceeding, claim, issue or matter therein which may be subject to indemnification,
hold harmless or exoneration rights, or advancement of Expenses covered hereunder. The failure of Indemnitee to so notify the Company
shall not relieve the Company of any obligation which it may have to Indemnitee under this Agreement, or otherwise.

 

(b)              
Indemnitee may deliver to the Company a written application to indemnify, hold harmless or exonerate Indemnitee in accordance with
this Agreement. Such application(s) may be delivered from time to time and at such time(s) as Indemnitee deems appropriate in
his or her sole discretion. Following such a written application for indemnification by Indemnitee, Indemnitee’s entitlement
to indemnification shall be determined according to Section 12(a) of this Agreement.

 

12.          
PROCEDURE UPON APPLICATION FOR INDEMNIFICATION.

 

(a)               A
determination, if required by applicable law, with respect to Indemnitee’s entitlement to indemnification shall be made in the
specific case by one of the following methods, which shall be at the election of Indemnitee: (i) by a majority vote of the
Disinterested Directors, even though less than a quorum of the Board, (ii) by a committee of such directors designated by
majority vote of such directors, (iii) if there are no Disinterested Directors or if such directors so direct, by Independent
Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee, or (iv) by vote of the
stockholders. The Company promptly will advise Indemnitee in writing with respect to any determination that Indemnitee is or is not
entitled to indemnification, including a description of any reason or basis for which indemnification has been denied. If it is so
determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten (10) days after
such determination. Indemnitee shall reasonably cooperate with the person, persons or entity making such determination with respect
to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance
request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably
available to Indemnitee and reasonably necessary to such determination. Any costs or Expenses (including reasonable attorneys’
fees and disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall
be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company
hereby agrees to indemnify and to hold Indemnitee harmless therefrom.

 

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(b)              
In the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 12(a) hereof,
the Independent Counsel shall be selected as provided in this Section 12(b). The Independent Counsel shall be selected by Indemnitee
(unless Indemnitee shall request that such selection be made by the Board), and Indemnitee shall give written notice to the Company advising
it of the identity of the Independent Counsel so selected and certifying that the Independent Counsel so selected meets the requirements
of “Independent Counsel” as defined in Section 2 of this Agreement. If the Independent Counsel is selected by the Board,
the Company shall give written notice to Indemnitee advising him or her of the identity of the Independent Counsel so selected and certifying
that the Independent Counsel so selected meets the requirements of “Independent Counsel” as defined in Section 2 of this
Agreement. In either event, Indemnitee or the Company, as the case may be, may, within ten (10) days after such written notice
of selection shall have been received, deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection;
provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements
of “Independent Counsel” as defined in Section 2 of this Agreement, and the objection shall set forth with particularity
the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If
such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and
until such objection is withdrawn or a court of competent jurisdiction has determined that such objection is without merit. If, within
twenty (20) days after submission by Indemnitee of a written request for indemnification pursuant to Section 11(b) hereof, no
Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the Delaware Court for
resolution of any objection which shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel
and/or for the appointment as Independent Counsel of a person selected by the Delaware Court, and the person with respect to whom all
objections are so resolved or the person so appointed shall act as Independent Counsel under Section 12(a) hereof. Upon the
due commencement of any judicial proceeding or arbitration pursuant to Section 14(a) of this Agreement, Independent Counsel
shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct
then prevailing).

 

(c)              
The Company agrees to pay the reasonable fees and expenses of Independent Counsel and to fully indemnify and hold harmless such
Independent Counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its
engagement pursuant hereto.

 

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13.          
PRESUMPTIONS AND EFFECT OF CERTAIN PROCEEDINGS.

 

(a)              
 In making a determination with respect to entitlement to indemnification hereunder, the person, persons or entity making such
determination shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request
for indemnification in accordance with Section 11(b) of this Agreement, and the Company shall have the burden of proof to overcome
that presumption in connection with the making by any person, persons or entity of any determination contrary to that presumption. Neither
the failure of the Company (including by the Disinterested Directors or Independent Counsel) to have made a determination prior to the
commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the
applicable standard of conduct, nor an actual determination by the Company (including by the Disinterested Directors or Independent Counsel)
that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee
has not met the applicable standard of conduct.

 

(b)              
If the person, persons or entity empowered or selected under Section 12 of this Agreement to determine whether Indemnitee
is entitled to indemnification shall not have made a determination within thirty (30) days after receipt by the Company of the request
therefor, the requisite determination of entitlement to indemnification shall, to the fullest extent permitted by law, be deemed to have
been made and Indemnitee shall be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a material fact, or
an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request
for indemnification, or (ii) a final judicial determination that any or all such indemnification is expressly prohibited under applicable
law; provided, however, that such 30-day period may be extended for a reasonable time, not to exceed an additional fifteen (15) days,
if the person, persons or entity making the determination with respect to entitlement to indemnification in good faith requires such additional
time for the obtaining or evaluating of documentation and/or information relating thereto.

 

(c)              
The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon
a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely
affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which
he or she reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding,
that Indemnitee had reasonable cause to believe that his or her conduct was unlawful.

 

(d)               For
purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s
action is based on the records or books of account of the Enterprise, including financial statements, or on information supplied to
Indemnitee by the directors, manager, or officers of the Enterprise in the course of their duties, or on the advice of legal counsel
for the Enterprise, its Board, any committee of the Board or any director, trustee, general partner, manager or managing member, or
on information or records given or reports made to the Enterprise, its Board, any committee of the Board or any director, trustee,
general partner, manager or managing member, by an independent certified public accountant or by an appraiser or other expert
selected by the Enterprise, its Board, any committee of the Board or any director, trustee, general partner, manager or managing
member. The provisions of this Section 13(d) shall not be deemed to be exclusive or to limit in any way the other
circumstances in which Indemnitee may be deemed or found to have met the applicable standard of conduct set forth in this
Agreement.

 

    11

     

    

 

  

(e)              
The knowledge and/or actions, or failure to act, of any other director, officer, trustee, partner, manager, managing member, fiduciary,
agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under
this Agreement.

 

14.             
REMEDIES OF INDEMNITEE.

 

(a)              
In the event that (i) a determination is made pursuant to Section 12 of this Agreement that Indemnitee is not entitled
to indemnification under this Agreement, (ii) advancement of Expenses, to the fullest extent permitted by applicable law, is not
timely made pursuant to Section 10 of this Agreement, (iii) no determination of entitlement to indemnification shall have been
made pursuant to Section 12(a) of this Agreement within thirty (30) days after receipt by the Company of the request for indemnification,
(iv) payment of indemnification is not made pursuant to Section 5, 6, 7 or the last sentence of Section 12(a) of this
Agreement within ten (10) days after receipt by the Company of a written request therefor, (v) a contribution payment is not
made in a timely manner pursuant to Section 8 of this Agreement, (vi) payment of indemnification pursuant to Section 3
or 4 of this Agreement is not made within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification,
or (vii) payment to Indemnitee pursuant to any hold harmless or exoneration rights under this Agreement or otherwise is not made
in accordance with this Agreement within ten (10) days after receipt by the Company of a written request therefor, Indemnitee shall
be entitled to an adjudication by the Delaware Court to such indemnification, hold harmless, exoneration, contribution or advancement
rights. Alternatively, Indemnitee, at his or her option, may seek an award in arbitration to be conducted by a single arbitrator
pursuant to the Commercial Arbitration Rules and Mediation Procedures of the American Arbitration Association. Except as set forth
herein, the provisions of Delaware law (without regard to its conflict of laws rules) shall apply to any such arbitration. The Company
shall not oppose Indemnitee’s right to seek any such adjudication or award in arbitration.

 

(b)              
In the event that a determination shall have been made pursuant to Section 12(a) of this Agreement that Indemnitee is
not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 14 shall be conducted
in all respects as a de novo trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason of that adverse determination.

 

    12

     

    

 

 

(c)              
In any judicial proceeding or arbitration commenced pursuant to this Section 14, Indemnitee shall be presumed to be entitled
to be indemnified, held harmless, exonerated to receive advancement of Expenses under this Agreement and the Company shall have the burden
of proving Indemnitee is not entitled to be indemnified, held harmless, exonerated and to receive advancement of Expenses, as the case
may be, and the Company may not refer to or introduce into evidence any determination pursuant to Section 12(a) of this Agreement
adverse to Indemnitee for any purpose. If Indemnitee commences a judicial proceeding
or arbitration pursuant to this Section 14, Indemnitee shall not be required to reimburse the Company for any advances pursuant
to Section 10 until a final determination is made with respect to Indemnitee’s entitlement to indemnification (as to which
all rights of appeal have been exhausted or lapsed).

 

(d)              
If a determination shall have been made pursuant to Section 12(a) of this Agreement that Indemnitee is entitled to indemnification,
the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 14,
absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s
statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification
under applicable law.

 

(e)              
The Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 14
that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or
before any such arbitrator that the Company is bound by all the provisions of this Agreement.

 

(f)               
The Company shall indemnify and hold harmless Indemnitee to the fullest extent permitted by law against all Expenses and, if requested
by Indemnitee, shall (within ten (10) days after the Company’s receipt of such written request) pay to Indemnitee, to the fullest
extent permitted by applicable law, such Expenses which are incurred by Indemnitee in connection with any judicial proceeding or arbitration
brought by Indemnitee: (i) to enforce his or her rights under, or to recover damages for breach of, this Agreement or any other indemnification,
hold harmless, exoneration, advancement or contribution agreement or provision of the Charter, or the Bylaws now or hereafter in effect;
or (ii) for recovery or advances under any insurance policy maintained by any person for the benefit of Indemnitee, regardless of
the outcome and whether Indemnitee ultimately is determined to be entitled to such indemnification, hold harmless or exoneration right,
advancement, contribution or insurance recovery, as the case may be (unless such judicial proceeding or arbitration was not brought by
Indemnitee in good faith).

 

(g)              
Interest shall be paid by the Company to Indemnitee at the legal rate under Delaware law for amounts which the Company indemnifies,
holds harmless or exonerates, or advances, or is obliged to indemnify, hold harmless or exonerate or advance for the period commencing
with the date on which Indemnitee requests indemnification, to be held harmless, exonerated, contribution, reimbursement or advancement
of any Expenses and ending with the date on which such payment is made to Indemnitee by the Company.

 

15.             
SECURITY. Notwithstanding anything herein to the contrary, except for Section 27, to the extent requested by Indemnitee
and approved by the Board, the Company may at any time and from time to time provide security to Indemnitee for the Company’s obligations
hereunder through an irrevocable bank line of credit, funded trust or other collateral. Any such security, once provided to Indemnitee,
may not be revoked or released without the prior written consent of Indemnitee.

 

    13

     

    

 

16.             
 NON-EXCLUSIVITY; SURVIVAL OF RIGHTS; INSURANCE; SUBROGATION.

 

(a)              
The rights of Indemnitee as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may
at any time be entitled under applicable law, the Charter, the Bylaws, any agreement, a vote of stockholders or a resolution of directors,
or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee
under this Agreement in respect of any Proceeding (regardless of when such Proceeding is first threatened, commenced or completed) or
claim, issue or matter therein arising out of, or related to, any action taken or omitted by such Indemnitee in his or her Corporate Status
prior to such amendment, alteration or repeal. To the extent that a change in applicable law, whether by statute or judicial decision,
permits greater indemnification, hold harmless or exoneration rights or advancement of Expenses than would be afforded currently
under the Charter, the Bylaws or this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement
the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or
remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or
hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall
not prevent the concurrent assertion or employment of any other right or remedy.

 

(b)              
The DGCL, the Charter and the Bylaws permit the Company to purchase and maintain insurance or furnish similar protection or make
other arrangements including, but not limited to, providing a trust fund, letter of credit, or surety bond (“Indemnification
Arrangements”) on behalf of Indemnitee against any liability asserted against him or her or incurred by or on behalf of
him or her or in such capacity as a director, officer, employee or agent of the Company, or arising out of his or her status as such,
whether or not the Company would have the power to indemnify him or her against such liability under the provisions of this Agreement
or under the DGCL, as it may then be in effect. The purchase, establishment, and maintenance of any such Indemnification Arrangement shall
not in any way limit or affect the rights and obligations of the Company or of Indemnitee under this Agreement except as expressly provided
herein, and the execution and delivery of this Agreement by the Company and Indemnitee shall not in any way limit or affect the rights
and obligations of the Company or the other party or parties thereto under any such Indemnification Arrangement.

 

(c)              
To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers,
trustees, partners, managers, managing members, fiduciaries, employees, or agents of the Company or of any other Enterprise which such
person serves at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance with its or their
terms to the maximum extent of the coverage available for any such director, officer, trustee, partner, managers, managing member, fiduciary,
employee or agent under such policy or policies. If, at the time the Company receives notice from any source of a Proceeding as to which
Indemnitee is a party or a participant (as a witness, deponent or otherwise), the Company has director and officer liability insurance
in effect, the Company shall give prompt notice of such Proceeding to the insurers in accordance with the procedures set forth in the
respective policies. The Company shall thereafter use commercially reasonable efforts to cause such insurers to pay, on behalf of Indemnitee,
all amounts payable as a result of such Proceeding in accordance with the terms of such policies.

 

    14

     

    

 

(d)              
In the event of any payment under this Agreement, the Company, to the fullest extent permitted by law, shall be subrogated to the
extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary
to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.
No such payment by the Company shall be deemed to relieve any insurer of its obligations.

 

(e)              
The Company’s obligation to indemnify, hold harmless, exonerate or advance Expenses hereunder to Indemnitee who is or was
serving at the request of the Company as a director, officer, trustee, partner, manager, managing member, fiduciary, employee or agent
of any other Enterprise shall be reduced by any amount Indemnitee has actually received as indemnification, hold harmless or exoneration
payments or advancement of expenses from such Enterprise. Notwithstanding any other provision of this Agreement to the contrary except
for Section 27, (i) Indemnitee shall have no obligation to reduce, offset, allocate, pursue or apportion any indemnification,
hold harmless, exoneration, advancement, contribution or insurance coverage among multiple parties possessing such duties to Indemnitee
prior to the Company’s satisfaction and performance of all its obligations under this Agreement, and (ii) the Company shall
perform fully its obligations under this Agreement without regard to whether Indemnitee holds, may pursue or has pursued any indemnification,
advancement, hold harmless, exoneration, contribution or insurance coverage rights against any person or entity other than the Company.

 

(f)               
Notwithstanding anything contained herein, the Company is the primary indemnitor, and any indemnification or advancement obligation
of the Sponsor or its affiliates or members or any other Person is secondary.

 

17.             
DURATION OF AGREEMENT. All agreements and obligations of the Company contained herein shall continue during the period Indemnitee
serves as a director or officer of the Company or as a director, officer, trustee, partner, manager, managing member, fiduciary, employee
or agent of any other corporation, partnership, joint venture, trust, employee benefit plan or other Enterprise which Indemnitee serves
at the request of the Company and shall continue thereafter so long as Indemnitee shall be subject to any possible Proceeding (including
any rights of appeal thereto and any Proceeding commenced by Indemnitee pursuant to Section 14 of this Agreement) by reason
of his or her Corporate Status, whether or not he or she is acting in any such capacity at the time any liability or expense is incurred
for which indemnification or advancement can be provided under this Agreement.

 

18.             
SEVERABILITY. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for
any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without
limitation, each portion of any Section, paragraph or sentence of this Agreement containing any such provision held to be invalid, illegal
or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall
remain enforceable to the fullest extent permitted by law; (b) such provision
or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent
of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each
portion of any Section, paragraph or sentence of this Agreement containing any such provision held to be invalid, illegal or unenforceable,
that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby.

 

    15

     

    

 

19.             
ENFORCEMENT AND BINDING EFFECT.

 

(a)              
The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby
in order to induce Indemnitee to serve as a director, officer or key employee of the Company, and the Company acknowledges that Indemnitee
is relying upon this Agreement in serving as a director, officer or key employee of the Company.

 

(b)              
Without limiting any of the rights of Indemnitee under the Charter or Bylaws of the Company as they may be amended from time to
time, this Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes
all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof.

 

(c)              
The indemnification, hold harmless, exoneration and advancement of expenses rights provided by or granted pursuant to this Agreement
shall be binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect
successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company), shall
continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company or a director, officer, trustee,
general partner, manager, managing member, fiduciary, employee or agent of any other Enterprise at the Company’s request, and shall
inure to the benefit of Indemnitee and his or her spouse, assigns, heirs, devisees, executors and administrators and other legal representatives.

 

(d)              
The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise)
to all, substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance
satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the
Company would be required to perform if no such succession had taken place.

 

(e)              
The Company and Indemnitee agree herein that a monetary remedy for breach of this Agreement, at some later date, may be inadequate,
impracticable and difficult of proof, and further agree that such breach may cause Indemnitee irreparable harm. Accordingly, the parties
hereto agree that Indemnitee may, to the fullest extent permitted by law, enforce this Agreement by seeking, among other things, injunctive
relief and/or specific performance hereof, without any necessity of showing actual damage or irreparable harm and that by seeking injunctive
relief and/or specific performance, Indemnitee shall not be precluded from seeking or obtaining any other relief to which he or she
may be entitled. The Company and Indemnitee further agree that Indemnitee shall, to the fullest extent permitted by law, be entitled to
such specific performance and injunctive relief, including temporary restraining orders, preliminary injunctions and permanent injunctions, without
the necessity of posting bonds or other undertaking in connection therewith. The Company acknowledges that in the absence of a waiver,
a bond or undertaking may be required of Indemnitee by a court of competent jurisdiction, and the Company hereby waives any such requirement
of such a bond or undertaking to the fullest extent permitted by law.

 

    16

     

    

 

20.             
MODIFICATION AND WAIVER. No supplement, modification or amendment of this Agreement shall be binding unless executed in
writing by the Company and Indemnitee. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver
of any other provisions of this Agreement nor shall any waiver constitute a continuing waiver.

 

21.             
NOTICES. All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed
to have been duly given (i) if delivered by hand and receipted for by the party to whom said notice or other communication shall
have been directed, or (ii) mailed by certified or registered mail with postage prepaid, on the third (3rd) business day after the
date on which it is so mailed:

 

(a)         
If to Indemnitee, at the address indicated on the signature page of this Agreement, or such other address as Indemnitee shall
provide in writing to the Company.

 

(b)        
If to the Company, to:

 

Health Assurance Acquisition Corp.

20 University Road

Cambridge, Massachusetts 02138

Attention: Hemant Taneja

 

With a copy, which shall not constitute notice,
to

 

Kirkland & Ellis LLP

601 Lexington Avenue

New York, New York 10022

Attn: Christian O. Nagler, Esq.

 Aslam Rawoof, Esq.

Fax No.: (212) 446-4900

 

 or to any other address as may have been
furnished to Indemnitee in writing by the Company.

 

22.              APPLICABLE
LAW AND CONSENT TO JURISDICTION. This Agreement and the legal relations among the parties shall be governed by, and construed
and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. Except with
respect to any arbitration commenced by Indemnitee pursuant to Section 14(a) of this Agreement, to the fullest extent
permitted by law, the Company and Indemnitee hereby irrevocably and unconditionally: (a) agree that any action or proceeding
arising out of or in connection with this Agreement shall be brought only in the Delaware Court and not in any other state or
federal court in the United States of America or any court in any other country; (b) consent to submit to the exclusive
jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement;
(c) waive any objection to the laying of venue of any such action or proceeding in the Delaware Court; and (d) waive, and
agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an
improper or inconvenient forum, or is subject (in whole or in part) to a jury trial. To the fullest extent permitted by law, the
parties hereby agree that the mailing of process and other papers in connection with any such action or proceeding in the manner
provided by Section 21 or in such other manner as may be permitted by law, shall be valid and sufficient service thereof.

 

    17

     

    

 

23.             
IDENTICAL COUNTERPARTS. This Agreement may be executed in one or more counterparts, each of which shall for all purposes
be deemed to be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by
the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

 

24.             
MISCELLANEOUS. The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed
to constitute part of this Agreement or to affect the construction thereof.

 

25.             
PERIOD OF LIMITATIONS. No legal action shall be brought and no cause of action shall be asserted by or in the right of the
Company against Indemnitee, Indemnitee’s spouse, heirs, executors or personal or legal representatives after the expiration
of two years from the date of accrual of such cause of action, and any claim or cause of action of the Company shall be extinguished and
deemed released unless asserted by the timely filing of a legal action within such two-year period; provided, however, that if any shorter
period of limitations is otherwise applicable to any such cause of action such shorter period shall govern.

 

26.             
ADDITIONAL ACTS. If for the validation of any of the provisions in this Agreement any act, resolution, approval or other
procedure is required to the fullest extent permitted by law, the Company undertakes to cause such act, resolution, approval or other
procedure to be affected or adopted in a manner that will enable the Company to fulfil its obligations under this Agreement.

 

27.             
WAIVER OF CLAIMS TO TRUST ACCOUNT. Notwithstanding anything contained herein to the contrary, Indemnitee hereby agrees that
it does not have any right, title, interest or claim of any kind (each, a “Claim”) in or to any monies in the
trust account established in connection with the Company’s initial public offering for the benefit of the Company and holders of
shares issued in such offering, and hereby waives any Claim it may have in the future as a result of, or arising out of, any services
provided to the Company and will not seek recourse against such trust account for any reason whatsoever. Accordingly, Indemnitee acknowledges
and agrees that any indemnification provided hereto will only be able to be satisfied by the Company if (i) the Company has sufficient
funds outside of the Trust Account to satisfy its obligations hereunder or (ii) the Company consummates a Business Combination.

 

28.              MAINTENANCE
OF INSURANCE. The Company shall use commercially reasonable efforts to obtain and maintain in effect during the entire period
for which the Company is obligated to indemnify the Indemnitee under this Agreement, one or more policies of insurance with
reputable insurance companies to provide the officers/directors of the Company with coverage for losses from wrongful acts and
omissions and to ensure the Company’s performance of its indemnification obligations under this Agreement.  The
Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage
available for any such director or officer under such policy or policies.  In all such insurance policies, the Indemnitee shall
be named as an insured in such a manner as to provide the Indemnitee with the same rights and benefits as are accorded to the most
favorably insured of the Company’s directors and officers.

 

[Signature Page Follows]

 

    18

     

    

 

 IN WITNESS WHEREOF, the parties hereto
have caused this Indemnity Agreement to be signed as of the day and year first above written.

 

	 	HEALTH ASSURANCE
    ACQUISITION CORP.
	 	 	 
	 	By:	/s/
    Hemant Taneja
	 	Name:	Hemant Taneja
	 	Title:	Chief Executive Officer

 

[Signature page to Indemnity
Agreement]

 

     

     

    

 

	 	INDEMNITEE
	 	 	 
	 	By:	/s/ Michelle Brown
	 	Name: 	Michelle Brown
	 	Address: 	[***]

 

[Signature page to Indemnity
Agreement]Exhibit 4.2

 

SEVENTH SUPPLEMENTAL INDENTURE

 

by and among

 

Ventas Realty, Limited Partnership, as Issuer,

Ventas, Inc., as Guarantor

 

and

 

U.S. Bank National Association,

as Trustee

$500,000,000

2.500% Senior Notes due 2031

 

Dated as of August 20, 2021

 

Supplement to Indenture dated as of February 23,
2018 (Senior Debt Securities)

 

     

     

    

 

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	ARTICLE I CREATION OF THE SECURITIES	2
	 	 	 
	Section 1.01	Designation of the Series; Securities Guarantee	2
	Section 1.02	Form of Notes	2
	Section 1.03	No Limit on Amount of Notes	2
	Section 1.04	Ranking	2
	Section 1.05	Certificate of Authentication	2
	Section 1.06	No Sinking Fund	2
	Section 1.07	No Additional Amounts	2
	Section 1.08	Definitions	2
	 	 	 
	ARTICLE II THE SECURITIES	8
	 	 	 
	Section 2.01	Amendment to Article 2	8
	 	 	 
	ARTICLE III REDEMPTION	8
	 	 	 
	Section 3.01	Amendment to Article 3	8
	 	 	 
	ARTICLE IV COVENANTS	10
	 	 	 
	Section 4.01	Amendments to Article 4	10
	 	 	 
	ARTICLE V SUCCESSORS	13
	 	 	 
	Section 5.01	Amendments to Article 5	13
	 	 	 
	ARTICLE VI DEFAULTS AND REMEDIES	14
	 	 	 
	Section 6.01	Amendments to Article 6	14
	 	 	 
	ARTICLE VII TRUSTEE	15
	 	 	 
	Section 7.01	Amendments to Article 7	15
	 	 	 
	ARTICLE VIII LEGAL DEFEASANCE AND COVENANT DEFEASANCE	16
	 	 	 
	Section 8.01	Applicability of Defeasance Provisions	16
	Section 8.02	Determinations Under Section 8.03	16
	Section 8.03	Determination Under Section 8.07	16
	Section 8.04	Amendments to Article 8	16
	 	 	 
	ARTICLE IX GUARANTEES	16
	 	 	 
	Section 9.01	Applicability of Guarantee Provisions	16
	 	 	 
	ARTICLE X MISCELLANEOUS	16
	 	 	 
	Section 10.01	Determination Under Section 13.10	16
	Section 10.02	Application of Seventh Supplemental Indenture; Ratification	17
	Section 10.03	Benefits of Seventh Supplemental Indenture	17
	Section 10.04	Effective Date	17
	Section 10.05	Governing Law	17
	Section 10.06	Counterparts	17
	 	 	 
	SCHEDULE 1	Real Estate Revenues	 
	 	 	 
	EXHIBIT A	Form of Note	 

 

     

     

    

 

THIS SEVENTH SUPPLEMENTAL INDENTURE, dated as of
August 20, 2021 (the “Seventh Supplemental Indenture”), is by and among Ventas Realty, Limited Partnership, a
Delaware limited partnership (the “Issuer”), Ventas, Inc., a Delaware corporation, and U.S. Bank National Association,
having a Corporate Trust Office at 425 Walnut ML CN WN 06 CT, Cincinnati, Ohio 45202, as Trustee (the “Trustee”), under
the Indenture (as defined below).

 

WHEREAS, Ventas, Inc., the Issuer and the Trustee
are parties to that certain indenture dated as of February 23, 2018 (the “Base Indenture” and, together with this
Seventh Supplemental Indenture, as amended and supplemented from time to time, the “Indenture”), providing for the
issuance by Ventas, Inc. or by the Issuer together from time to time of their respective senior debt securities in one or more series
(the “Securities”);

 

WHEREAS, Sections 2.01, 2.02 and 9.01 of the Base
Indenture provide, among other things, that, without the consent of the Holders of the Securities, one or more indentures supplemental
to the Base Indenture may be entered into to establish the form or terms of Securities of any series or to change or eliminate any of
the provisions of the Base Indenture; provided that any such change or elimination shall become effective only when there is no
Security Outstanding of any series created prior to the execution of such supplemental indenture which is entitled to the benefit of such
provisions;

 

WHEREAS, the Issuer, acting in its capacity as issuer
under the Base Indenture, desires to issue a series of its Securities under the Base Indenture, and has duly authorized the creation and
issuance of such series of Securities and the execution and delivery of this Seventh Supplemental Indenture to establish such series of
Securities, to modify certain terms of the Base Indenture as they apply to such series of Securities and to provide certain additional
provisions in respect of such Securities as hereinafter described;

 

WHEREAS, the Issuer desires to issue such Securities
with the benefit of a Securities Guarantee provided by Ventas, Inc. on the terms set forth in the Indenture;

 

WHEREAS, the Issuer, Ventas, Inc. and the Trustee
deem it advisable to enter into this Seventh Supplemental Indenture for the purposes of establishing the terms of such series of Securities
and the related Securities Guarantee, and providing for the rights, obligations and duties of the Trustee with respect to such Securities;

 

WHEREAS, concurrently with the execution hereof,
the Issuer has delivered to the Trustee an Officers’ Certificate and has caused its counsel to deliver to the Trustee an Opinion
of Counsel or a reliance letter upon an Opinion of Counsel satisfying the requirements of Section 2.03 of the Base Indenture; and

 

WHEREAS, all conditions and requirements of the Base
Indenture necessary to make this Seventh Supplemental Indenture a valid, binding and legal instrument, enforceable in accordance with
its terms, have been performed and fulfilled by the parties hereto, and the execution and delivery hereof have been in all respects duly
authorized by the parties hereto.

 

NOW, THEREFORE, for and in consideration of the premises
and agreements herein contained, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the Securities
of such series established hereby, as follows:

 

    1

     

    

 

ARTICLE I

 

CREATION OF THE SECURITIES

 

Section 1.01 Designation of the Series; Securities
Guarantee.

 

(a)            The
changes, modifications and supplements to the Base Indenture effected by this Seventh Supplemental Indenture shall be applicable only
with respect to, and govern the terms of, the Notes (as defined below), which shall not apply to any other Securities that have been or
may be issued under the Base Indenture, unless a supplemental indenture with respect to such other Securities specifically incorporates
such changes, modifications and supplements. Pursuant to the terms hereof and Sections 2.01 and 2.02 of the Base Indenture, the Issuer
hereby creates a series of Securities designated as the “2.500% Senior Notes due 2031” (the “Notes”), which
Notes shall be deemed “Securities” for all purposes under the Base Indenture. Except as otherwise provided in the Base
Indenture, the Notes shall form their own series for voting purposes and shall not be part of the same class or series as any other Securities
issued by the Issuer or by Ventas, Inc.

 

(b)            Each
of the Notes will be guaranteed by the Guarantor in accordance with Article 10 of the Base Indenture and Article IX of this
Seventh Supplemental Indenture.

 

Section 1.02            Form of
Notes. The Notes will be issued in permanent global form as one or more Global Securities substantially in the form set forth in Exhibit A
attached hereto, which is incorporated herein and made a part hereof. The Notes shall bear interest, be payable and have such other terms
as are stated in such form of global Note or in the Indenture. The stated maturity of the principal of the Notes shall be September 1,
2031.

 

Section 1.03            No
Limit on Amount of Notes. The Trustee shall authenticate and deliver on the Issue Date under the Indenture Notes for original issue
in an aggregate principal amount of up to $500,000,000. Notwithstanding the foregoing, the aggregate principal amount of the Notes that
may be authenticated and delivered under the Indenture shall be unlimited, subject to the covenants set forth in the Indenture, including
under Section 4.10 hereof; provided, that the terms of all Notes issued under this Seventh Supplemental Indenture (other than
the date of issuance, the issuance price, and the initial Interest Payment Date) shall be the same. The Issuer may, upon the execution
and delivery of this Seventh Supplemental Indenture or from time to time thereafter, execute and deliver the Notes to the Trustee for
authentication, and the Trustee shall thereupon authenticate and deliver said Notes upon an Authentication Order and delivery of an Officers’
Certificate and Opinion of Counsel as contemplated by Section 2.03 of the Base Indenture, without further action by the Issuer.

 

Section 1.04            Ranking.
The Notes will be the Issuer’s unsecured and unsubordinated obligations and rank equal in right of payment with all of the Issuer’s
existing and future unsecured and unsubordinated indebtedness.

 

Section 1.05            Certificate
of Authentication. The Trustee shall authenticate the Notes by executing the Global Security substantially as provided in the form
of Note attached hereto as Exhibit A.

 

Section 1.06            No
Sinking Fund. No sinking fund will be provided with respect to the Notes (notwithstanding any provisions of the Base Indenture with
respect to sinking fund obligations).

 

Section 1.07            No
Additional Amounts. No Additional Amounts will be payable with respect to the Notes (notwithstanding any provisions of the Base Indenture
with respect to Additional Amount obligations).

 

Section 1.08            Definitions.

 

(a)            Capitalized
terms used herein and not otherwise defined herein shall have the respective meanings assigned thereto in the Base Indenture.

 

(b)            Solely
for purposes of this Seventh Supplemental Indenture and the Notes, the following definitions in Section 1.01 of the Base Indenture
are hereby amended in their entirety to read as follows:

 

    2

     

    

 

“Business Day” means any day other
than a Saturday or Sunday or a day on which banking institutions in The City of New York are required or authorized to close.

 

(c)            Solely
for purposes of this Seventh Supplemental Indenture and the Notes, the following terms shall have the indicated meanings:

 

“Consolidated EBITDA” means, for
any period of time, the net income (loss) of Ventas, Inc. and its Subsidiaries, determined on a consolidated basis in accordance
with GAAP for such period, before deductions for (without duplication):

 

(1)            Interest
Expense;

 

(2)            taxes;

 

(3)            depreciation,
amortization and all other non-cash items, as determined reasonably and in good faith by Ventas, Inc., deducted in arriving at net
income (loss);

 

(4)            extraordinary
items;

 

(5)            non-recurring
items or other unusual items, as determined reasonably and in good faith by Ventas, Inc. (including, without limitation, all prepayment
penalties and all costs or fees incurred in connection with any debt financing or amendment thereto, acquisition, disposition, recapitalization
or similar transaction (regardless of whether such transaction is completed));

 

(6)            noncontrolling
interests;

 

(7)            income
or expense attributable to transactions involving derivative instruments that do not qualify for hedge accounting in accordance with GAAP;
and

 

(8)            gains
or losses on dispositions of depreciable real estate investments, property valuation losses and impairment charges.

 

For purposes of calculating Consolidated EBITDA,
all amounts shall be as determined reasonably and in good faith by Ventas, Inc. and in accordance with GAAP, except to the extent
that GAAP is not applicable with respect to the determination of all non-cash and non-recurring items.

 

“Consolidated Financial Statements”
means, with respect to any Person, collectively, the consolidated financial statements and notes to those financial statements, of that
Person and its Subsidiaries prepared in accordance with GAAP.

 

“Contingent Liabilities of Ventas, Inc.
and Subsidiaries” means, as of any date, those liabilities of Ventas, Inc. and its Subsidiaries consisting of (without
duplication) indebtedness for borrowed money, as determined in accordance with GAAP, that are or would be stated and quantified as contingent
liabilities in the notes to the Consolidated Financial Statements of Ventas, Inc. as of the date of determination.

 

“Debt” means, as of any date (without
duplication), (1) all indebtedness and liabilities for borrowed money, secured or unsecured, of Ventas, Inc. and its Subsidiaries,
including mortgages and other notes payable (including the Notes to the extent outstanding from time to time), but excluding any indebtedness,
including mortgages and other notes payable, which is secured by cash, cash equivalents or marketable securities or defeased (it being
understood that cash collateral shall be deemed to include cash deposited with a trustee with respect to third-party indebtedness) and
(2) all Contingent Liabilities of Ventas, Inc. and its Subsidiaries, excluding in each of clauses (1) and (2) Intercompany
Debt and all liabilities associated with customary exceptions to Non-Recourse Debt, such as for fraud, misapplication of funds, environmental
indemnities, voluntary bankruptcy, collusive involuntary bankruptcy and other similar exceptions.

 

    3

     

    

 

 

It is understood that Debt shall not include any
redeemable equity interest in Ventas, Inc.

 

“Seventh Supplemental Indenture”
has the meaning stated in the preamble.

 

“Guarantor” means Ventas, Inc.
and its successors and assigns; provided, however, that any Person constituting a Guarantor as described above shall cease
to constitute a Guarantor when its Guarantee of the Notes is released in accordance with the terms of the Indenture.

 

“Intercompany Debt” means, as
of any date, Debt to which the only parties are Ventas, Inc. and any of its Subsidiaries as of such date; provided, however,
that with respect to any such Debt of which the Issuer or the Guarantor is the borrower, such Debt is subordinate in right of payment
to the Notes.

 

“Interest Expense” means, for
any period of time, the aggregate amount of interest recorded in accordance with GAAP for such period by Ventas, Inc. and its Subsidiaries,
but excluding (i) interest reserves funded from the proceeds of any loan, (ii) prepayment penalties, (iii) amortization
of deferred financing costs and (iv) non-cash swap ineffectiveness charges, in all cases as reflected in the applicable Consolidated
Financial Statements.

 

“Issue Date” means August 20,
2021.

 

“Issuer” has the meaning stated
in the preamble.

 

“Latest Completed Quarter” means,
as of any date, the then most recently ended fiscal quarter of Ventas, Inc. for which Consolidated Financial Statements of Ventas, Inc.
have been completed, it being understood that at any time when Ventas, Inc. is subject to the informational requirements of the Exchange
Act, and in accordance therewith files annual and quarterly reports with the Commission, the term “Latest Completed Quarter”
shall be deemed to refer to the fiscal quarter covered by Ventas, Inc.’s most recently filed Quarterly Report on Form 10-Q,
or, in the case of the last fiscal quarter of the year, Ventas, Inc.’s Annual Report on Form 10-K.

 

“Make-Whole Amount” means, in
connection with any optional redemption of the Notes, the excess, if any, of:

 

(1)            the
aggregate present value as of the date of such redemption of each dollar of principal of the Notes being redeemed or paid and the amount
of interest (exclusive of interest accrued to the date of redemption or accelerated payment) that would have been payable in respect of
each such dollar if such redemption or accelerated payment had been made on June 1, 2031, determined by discounting, on a semi-annual
basis, such principal and interest at the Reinvestment Rate (determined on the third Business Day preceding the date a notice of redemption
is given or declaration of acceleration is made) from the respective dates on which such principal and interest would have been payable
if such redemption or payment had been made on June 1, 2031, over

 

(2)            the
aggregate principal amount of the Notes being redeemed or paid.

 

“New Senior Investment Group Acquisition”
means the acquisition by Ventas, Inc. of New Senior Investment Group Inc. and its subsidiaries pursuant to that certain Agreement
and Plan of Merger, dated June 28, 2021, among Ventas, Inc., Cadence Merger Sub LLC and New Senior Investment Group Inc., as
amended or otherwise modified from time to time.

 

“Notes” has the meaning stated
in Section 1.01 hereof.

 

    4 

     

    

 

“Obligations” means any principal,
interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities payable under the documentation governing any
Debt.

 

“Property EBITDA” means, for any
property owned by Ventas, Inc. or any of its Subsidiaries as of the date of determination, for any period of time (without duplication),
the net income (loss) derived from such property for such period, before deductions for:

 

(1)            Interest
Expense;

 

(2)            taxes;

 

(3)            depreciation,
amortization and all other non-cash items, as determined reasonably and in good faith by Ventas, Inc., deducted in arriving at net
income (loss);

 

(4)            general
and administrative expenses that are not allocated by management to a property segment, as reflected in Ventas, Inc.’s Consolidated
Financial Statements available for the four (4) consecutive fiscal quarters ending with the Latest Completed Quarter;

 

(5)            extraordinary
items;

 

(6)            non-recurring
items or other unusual items, as determined reasonably and in good faith by Ventas, Inc. (including, without limitation, all prepayment
penalties and all costs or fees incurred in connection with any debt financing or amendment thereto, acquisition, disposition, recapitalization
or similar transaction (regardless of whether such transaction is completed));

 

(7)            noncontrolling
interests;

 

(8)            income
or expense attributable to transactions involving derivative instruments that do not qualify for hedge accounting in accordance with GAAP;
and

 

(9)            property
valuation losses and impairment charges;

 

in each case, attributable to such property.

 

For purposes of calculating Property EBITDA, all
amounts shall be determined reasonably and in good faith by Ventas, Inc. and in accordance with GAAP except to the extent that GAAP
is not applicable with respect to the determination of all non-cash and non-recurring items.

 

Property EBITDA shall be adjusted (without duplication)
to give pro forma effect:

 

(x)            in
the case of any assets having been placed-in-service or removed from service since the first day of the period to the date of determination,
to include or exclude, as the case may be, any Property EBITDA earned or eliminated as a result of the placement of such assets in service
or removal of such assets from service as if the placement of such assets in service or removal of such assets from service occurred as
of the first day of the period; and

 

(y)            in
the case of any acquisition or disposition of any asset or group of assets since the first day of the period to the date of determination,
including, without limitation, by merger, or stock or asset purchase or sale, to include or exclude, as the case may be, any Property
EBITDA earned or eliminated as a result of the acquisition or disposition of those assets as if the acquisition or disposition occurred
as of the first day of the period.

 

    5 

     

    

 

“Reinvestment Rate” means 0.200%
plus the arithmetic mean of the yields under the respective heading Day Ending published in the most recent Statistical Release under
Treasury Constant Maturities for the maturity (rounded to the nearest month) corresponding to the remaining life to maturity of the principal
of the Notes being redeemed or paid as of such redemption or payment date, which maturity shall be deemed to be June 1, 2031. If
no maturity exactly corresponds to such deemed maturity, yields for the two published maturities most closely corresponding to such maturity
shall be calculated pursuant to the immediately preceding sentence and the Reinvestment Rate in respect of the Notes shall be interpolated
or extrapolated from such yields on a straight-line basis, rounding in each of such relevant periods to the nearest month. For the purpose
of calculating the Reinvestment Rate in respect of the Notes, the most recent Statistical Release published prior to the date of determination
of the Make-Whole Amount shall be used.

 

“Secured Debt” means, as of any
date, that portion of the aggregate principal amount of all outstanding Debt of Ventas, Inc. and its Subsidiaries as of that date
that is secured by a Lien on properties or other assets of Ventas, Inc. or any of its Subsidiaries.

 

“Stabilized Development Asset”
means, as of any date, a new construction or development Real Estate Asset at such date that, following the first four (4) consecutive
fiscal quarters occurring after substantial completion of construction or development, either (i) an additional six (6) consecutive
fiscal quarters have occurred or (ii) such Real Estate Asset is at least 90% leased, whichever shall first occur.

 

“Statistical Release” means that
statistical release that is published by the Federal Reserve System and that establishes annual yields on actively traded United States
government securities adjusted to constant maturities, or, if such statistical release is not published at the time of any determination
under the Indenture, then such other reasonably comparable index the Issuer designates.

 

“Subsidiary” means, with respect
to any Person, a corporation, partnership association, joint venture, trust, limited liability company or other business entity which
is required to be consolidated with such Person in accordance with GAAP.

 

“Total Assets” means, as of any
date, in each case as determined reasonably and in good faith by Ventas, Inc., the sum of (without duplication):

 

(1)            with
respect to Real Estate Assets that were owned by Ventas, Inc. and its Subsidiaries as of April 17, 2002 and that continue to
be owned as of the date of determination, the annualized rental revenues specified for such Real Estate Assets on Schedule 1 attached
to this Seventh Supplemental Indenture, divided by 0.0900, plus any annualized incremental rental revenue generated by such Real Estate
Assets as a result of, arising out of or in connection with annual rent escalations or rent reset rights of Ventas, Inc. and its
Subsidiaries with respect to such Real Estate Assets (whether by agreement or exercise of such right or otherwise), divided by 0.0900;
for the purpose of this clause (1), “annualized incremental rental revenue” in respect of a Real Estate Asset shall mean the
increase in daily rental revenue generated by such Real Estate Asset as a result of, arising out of or in connection with such annual
rent escalations or rent reset rights over the daily rental revenue generated by such Real Estate Asset immediately prior to the effective
date of such increase, annualized by multiplying such daily increase by 365;

 

(2)            with
respect to all other Real Estate Assets owned by Ventas, Inc. and its Subsidiaries as of the date of determination (except as set
forth in clause (3) below), the cost (original cost plus capital improvements before depreciation and amortization) thereof, determined
in accordance with GAAP;

 

    6 

     

    

 

(3)            with
respect to Stabilized Development Assets owned by Ventas, Inc. and its Subsidiaries as of the date of determination, the aggregate
sum of all Property EBITDA for such Stabilized Development Assets for the four (4) consecutive fiscal quarters ending with the Latest
Completed Quarter divided by (i) 0.0900, in the case of a government reimbursed property and (ii) 0.0700 in all other cases;
provided, however, that if the value of a particular Stabilized Development Asset calculated pursuant to this clause (3) is
less than the cost (original cost plus capital improvements before depreciation and amortization) of such Real Estate Asset, as determined
in accordance with GAAP, such cost shall be used in lieu thereof with respect to such Real Estate Asset;

 

(4)            the
proceeds of the Debt, or the assets to be acquired in exchange for such proceeds, as the case may be, incurred since the end of the Latest
Completed Quarter;

 

(5)            mortgages
and other notes receivable of Ventas, Inc. and its Subsidiaries, determined in accordance with GAAP;

 

(6)            cash,
cash equivalents and marketable securities of Ventas, Inc. and its Subsidiaries but excluding all cash, cash equivalents and marketable
securities securing, or applied to defease or discharge, in each case as of that date, any indebtedness, including mortgages and other
notes payable (including cash deposited with a trustee with respect to third-party indebtedness), all determined in accordance with GAAP;
and

 

(7)            all
other assets of Ventas, Inc. and its Subsidiaries (excluding goodwill), determined in accordance with GAAP.

 

“Unencumbered Assets” means, as
of any date, in each case as determined reasonably and in good faith by Ventas, Inc., the sum of (without duplication):

 

(1)            with
respect to Real Estate Assets that were owned by Ventas, Inc. and its Subsidiaries as of April 17, 2002 and that continue to
be owned as of the date of determination, but excluding any such Real Estate Assets that are serving as collateral for Secured Debt, the
annualized rental revenues specified for such Real Estate Assets on Schedule 1 attached to this Seventh Supplemental Indenture, divided
by 0.0900, plus any annualized incremental rental revenue generated by such Real Estate Assets as a result of, arising out of or in connection
with annual rent escalations or rent reset rights of Ventas, Inc. and its Subsidiaries with respect to such Real Estate Assets (whether
by agreement or exercise of such right or otherwise), divided by 0.0900; for the purpose of this clause (1), “annualized incremental
rental revenue” in respect of a Real Estate Asset shall mean the increase in daily rental revenue generated by such Real Estate
Asset as a result of, arising out of or in connection with such annual rent escalations or rent reset rights over the daily rental revenue
generated by such Real Estate Asset immediately prior to the effective date of such increase, annualized by multiplying such daily increase
by 365;

 

(2)            with
respect to all other Real Estate Assets owned by Ventas, Inc. and its Subsidiaries as of the date of determination (except as set
forth in clause (3) below), but excluding any such Real Estate Assets that are serving as collateral for Secured Debt, the cost (original
cost plus capital improvements before depreciation and amortization) thereof, determined in accordance with GAAP;

 

(3)            with
respect to Stabilized Development Assets owned by Ventas, Inc. and its Subsidiaries as of the date of determination, excluding any
such Stabilized Development Assets that are serving as collateral for Secured Debt, the aggregate sum of all Property EBITDA for such
Stabilized Development Assets for the four (4) consecutive fiscal quarters ending with the Latest Completed Quarter divided by (i) 0.0900,
in the case of a government reimbursed property and (ii) 0.0700 in all other cases; provided, however, that if the value of
a particular Stabilized Development Asset calculated pursuant to this clause (3) is less than the cost (original cost plus capital
improvements before depreciation and amortization) of such Real Estate Asset, as determined in accordance with GAAP, such cost shall be
used in lieu thereof with respect to such Real Estate Asset;

 

    7 

     

    

 

(4)            the
proceeds of the Debt, or the assets to be acquired in exchange for such proceeds, as the case may be, incurred since the end of the Latest
Completed Quarter;

 

(5)            mortgages
and other notes receivable of Ventas, Inc. and its Subsidiaries, except any mortgages or other notes receivable that are serving
as collateral for Secured Debt, determined in accordance with GAAP;

 

(6)            cash,
cash equivalents and marketable securities of Ventas, Inc. and its Subsidiaries but excluding all cash, cash equivalents and marketable
securities securing, or applied to defease or discharge, in each case as of that date, any indebtedness, including mortgages and other
notes payable (including cash deposited with a trustee with respect to third-party indebtedness), all determined in accordance with GAAP;
and

 

(7)            all
other assets of Ventas, Inc. and its Subsidiaries (excluding goodwill), other than assets pledged to secure Debt, determined in accordance
with GAAP; provided, however, that Unencumbered Assets shall not include net real estate investments in unconsolidated joint ventures
of Ventas, Inc. and its Subsidiaries.

 

For the avoidance of doubt, cash held by a “qualified
intermediary” in connection with proposed like-kind exchanges pursuant to Section 1031 of the Internal Revenue Code of 1986,
as amended, which may be classified as “restricted” for GAAP purposes shall nonetheless be included in clause (6) above,
so long as Ventas, Inc. or any of its Subsidiaries has the right to (i) direct the qualified intermediary to return such cash
to Ventas, Inc. or such Subsidiary if and when Ventas, Inc. or such Subsidiary fails to identify or acquire the proposed like-kind
property or at the end of the 180-day replacement period or (ii) direct the qualified intermediary to use such cash to acquire like-kind
property.

 

“Unsecured Debt” means, as of
any date, that portion of the aggregate principal amount of all outstanding Debt of Ventas, Inc. and its Subsidiaries as of that
date that is neither Secured Debt nor Contingent Liabilities of Ventas, Inc. and its Subsidiaries.

 

“Ventas Capital” means Ventas
Capital Corporation, a Delaware corporation.

 

ARTICLE II

 

THE SECURITIES

 

Section 2.01 Amendment to Article 2.

 

(a)            The
first sentence of Section 2.03 of the Base Indenture is hereby amended with respect to the Notes by replacing the reference to “Two
Officers” therein with “One Officer.”

 

ARTICLE III

 

REDEMPTION

 

Section 3.01 Amendment to Article 3.

 

(a)            Pursuant
to Section 2.02(7) of the Base Indenture:

 

(1)            the
second sentence of Section 3.02 of the Base Indenture is hereby amended with respect to the Notes by replacing the reference to “45
days prior to the redemption date fixed by the Issuer” therein with “five days prior to the date that the notice of an optional
redemption is given to Holders”; and

 

    8 

     

    

 

(2)            the
first sentence of Section 3.04 of the Base Indenture is hereby amended with respect to the Notes by replacing the reference to “30
days” therein with “15 days”.

 

(b)            Pursuant
to Sections 2.02(7) and 2.02(8) of the Base Indenture, Article 3 of the Base Indenture is hereby amended with respect to
the Notes by adding to the end the following new Sections 3.09, 3.10 and 3.11, in each case to read as follows:

 

“Section 3.09 Optional Redemption.

 

(a)            The
Issuer may, at its option, redeem the Notes at any time prior to maturity, in whole or from time to time in part.

 

(b)            The
redemption price for any redemption of the Notes before June 1, 2031 shall be equal to the sum of (1) the principal amount of
the Notes being redeemed, (2) accrued and unpaid interest thereon, if any, to (but excluding) the redemption date and (3) the
Make-Whole Amount, if any (subject to the right of holders of record on the relevant Record Date to receive interest due on the relevant
Interest Payment Date). The calculation of the Make-Whole Amount shall be the responsibility of the Issuer or such other party appointed
by the Issuer. The redemption price for any redemption of the Notes on or after June 1, 2031 shall be equal to the sum of (1) the
principal amount of the Notes being redeemed and (2) accrued and unpaid interest thereon, if any, to (but excluding) the redemption
date.

 

(c) Any redemption pursuant to this
Section 3.09 shall be made pursuant to the provisions of Sections 3.01 through 3.07 of the Indenture.

 

Section 3.10
Special Mandatory Redemption. If (i) the New Senior Investment Group Acquisition has not been consummated on or prior
to April 20, 2022 or (ii) prior to such date, Ventas, Inc. notifies the Trustee that Ventas, Inc. will not pursue
the consummation of the New Senior Investment Group Acquisition (each of (i) and (ii), a “Special Mandatory Redemption Trigger”),
the Issuer will be required to redeem all of the Notes (such redemption, the “Special Mandatory Redemption”) at a special
mandatory redemption price equal to 101% of their principal amount, together with accrued and unpaid interest thereon, if any, to (but
excluding) the Special Mandatory Redemption Date (as defined below) (the “Special Mandatory Redemption Price”).

 

In the event that the Issuer becomes obligated
to redeem the Notes pursuant to the Special Mandatory Redemption, it will promptly, and in any event not more than ten Business Days after
the date on which a Special Mandatory Redemption Trigger occurred, deliver notice to the Trustee of the Special Mandatory Redemption and
the date upon which the Notes will be redeemed (the “Special Mandatory Redemption Date,” which date shall be no later
than the third Business Day following the date of such notice), together with a notice of Special Mandatory Redemption for the Trustee
to deliver to each registered holder of Notes to be redeemed. The Trustee will then promptly mail, or electronically deliver, according
to the procedures of DTC, such notice of the Special Mandatory Redemption to each registered holder of the Notes to be redeemed. Unless
the Issuer defaults in payment of the Special Mandatory Redemption Price, on and after such Special Mandatory Redemption Date, interest
will cease to accrue on the Notes to be redeemed.

 

Notwithstanding the foregoing, installments
of interest on the Notes that are due and payable on interest payment dates falling on or prior to the Special Mandatory Redemption Date
will be payable on such interest payment dates to the registered holders as of the close of business on the relevant record dates.

 

    9 

     

    

 

Upon the occurrence of the consummation
of the New Senior Investment Group Acquisition, the foregoing provisions in this Section 3.10 regarding the Special Mandatory Redemption
shall cease to apply.

 

Section 3.11
Mandatory Redemption. Except as set forth in Section 3.10, the Issuer is not required to make mandatory redemption payments
with respect to the Notes.”

 

ARTICLE IV

 

COVENANTS

 

Section 4.01 Amendments to Article 4.

 

(a)            Pursuant
to Section 2.02(14) of the Base Indenture, Section 4.03 of the Base Indenture is hereby amended with respect to the Notes by
deleting the text thereof in its entirety and inserting in its place the following:

 

“Section 4.03 Reports.
Whether or not required by the Commission, so long as any Notes are outstanding, Ventas, Inc. shall file with the Trustee, within
15 days after it files the same with the Commission (or if not subject to the periodic reporting requirements of the Exchange Act, within
15 days after it would have been required to file the same with the Commission had it been so subject):

 

(1)            all
quarterly and annual financial information that is required to be contained in filings with the Commission on Forms 10-Q and 10-K, including
a “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and, with respect to the annual
information only, a report on the annual financial statements by Ventas, Inc.’s certified independent accountants; and

 

(2)            all
current reports that are required to be filed with the Commission on Form 8-K.

 

For so long as any Notes remain Outstanding,
if at any time Ventas, Inc. is not required to file with the Commission the reports required by the preceding paragraph of this Section 4.03,
Ventas, Inc. shall furnish to the Holders and to securities analysts and prospective investors, upon their request, the information
required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act.

 

The availability of the foregoing materials
on the Commission’s website or on Ventas, Inc.’s website shall be deemed to satisfy the foregoing delivery obligations.
In the event that the rules and regulations of the Commission permit Ventas, Inc. and any direct or indirect parent of Ventas, Inc.
to report at such parent entity’s level on a consolidated basis, consolidating reporting at the parent entity’s level in a
manner consistent with that described in this Section 4.03 for Ventas, Inc. will satisfy this Section 4.03, and the obligations
in this Section 4.03 with respect to financial information relating to Ventas, Inc. shall be deemed to be satisfied by furnishing
financial information relating to such direct or indirect parent; provided that such financial information is accompanied by consolidating
information that explains in reasonable detail the differences between the information relating to such direct or indirect parent and
any of its Subsidiaries other than Ventas, Inc. and its Subsidiaries, on the one hand, and the information relating to Ventas, Inc.
and its Subsidiaries on a standalone basis, on the other hand.”

 

    10 

     

    

 

(b)            Pursuant
to Section 2.02(14) of the Base Indenture, Section 4.04 of the Base Indenture is hereby amended with respect to the Notes by
deleting the text thereof in its entirety and inserting in its place the following:

 

“Section 4.04 Compliance
Certificate. “Ventas, Inc. shall deliver to the Trustee, within 120 days after the end of each fiscal year, an Officers’
Certificate stating that a review of the activities of Ventas, Inc. and its Subsidiaries during the preceding fiscal year has been
made under the supervision of the signing Officers with a view to determining whether Ventas, Inc. has kept, observed, performed
and fulfilled its obligations under the Indenture, and further stating, as to each such Officer signing such certificate, that to the
best of his or her knowledge, Ventas, Inc. has kept, observed, performed and fulfilled each and every covenant contained in the Indenture
and is not in default in the performance or observance of any of the terms, provisions and conditions of the Indenture (or, if a Default
or Event of Default has occurred, describing all such Defaults or Events of Default of which he or she may have knowledge and what action
Ventas, Inc. is taking or proposes to take with respect thereto) and that to the best of his or her knowledge, no event has occurred
and remains in existence by reason of which payments on account of the principal of or interest, if any, on the Securities of any series
is prohibited or if such event has occurred, a description of the event and what action Ventas, Inc. is taking or proposes to take
with respect thereto. For purposes of this Section 4.04, such compliance shall be determined without regard to any period of grace
or requirement of notice under the Indenture.”

 

(c)            Pursuant
to Section 2.02(14) of the Base Indenture, Section 4.06 of the Base Indenture is hereby amended with respect to the Notes by
deleting the text thereof in its entirety and inserting in its place the following:

 

“Section 4.06 Corporate Existence.
Except as permitted by Article 5 and Section 10.04, Ventas, Inc. and the Issuer shall do all things necessary to preserve
and keep their existence, rights and franchises, except that neither Ventas, Inc. nor the Issuer shall be required to preserve any
such right or franchise if Ventas, Inc. or the Issuer, as applicable, shall determine reasonably and in good faith that the preservation
thereof is no longer desirable in the conduct of its business.”

 

(d)            Pursuant
to Section 2.02(14) of the Base Indenture, Article 4 of the Base Indenture is hereby amended with respect to the Notes by adding
to the end the following new Sections 4.07 through 4.11, in each case to read as follows:

 

“Section 4.07 Taxes.
Ventas, Inc. will pay, and will cause each of its Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and
governmental levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment
is not adverse in any material respect to the Holders of the Notes.

 

Section 4.08
Stay, Extension and Usury Laws. Each of Ventas, Inc. and the Issuer covenants (to the extent that it may lawfully do so)
that: (1) it will not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any
stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance
of the Indenture; and (2) it hereby expressly waives all benefit or advantage of any such law; and (3) it will not, by resort
to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution
of every such power as though no such law has been enacted.

 

Section 4.09
Restrictions on Activities of Ventas Capital. Neither Ventas, Inc. nor the Issuer shall permit Ventas Capital to hold
any material assets, become liable for any material obligations or engage in any significant business activities, except that Ventas Capital
may be a co-obligor with respect to Debt if the Issuer is a primary obligor of such Debt and the net proceeds of such Debt are received
by the Issuer or one or more of its Subsidiaries other than Ventas Capital.

 

    11 

     

    

 

Section 4.10
Limitations on Incurrence of Debt.

 

(a)            Ventas, Inc.
shall not, and shall not permit any of its Subsidiaries to, Incur any Debt if, immediately after giving effect to the Incurrence
of such additional Debt and any other Debt Incurred since the end of the Latest Completed Quarter and the application of the net proceeds
therefrom, the aggregate principal amount of all outstanding Debt would exceed 60% of the sum of (without duplication) (i) Total
Assets as of the end of the Latest Completed Quarter and (ii) the purchase price of any Real Estate Assets or mortgages receivable
acquired, and the amount of any securities offering proceeds received (to the extent such proceeds were not used to acquire Real Estate
Assets or mortgages receivable or to reduce Debt), since the end of the Latest Completed Quarter.

 

(b)            Ventas, Inc.
shall not, and shall not permit any of its Subsidiaries to, Incur any Secured Debt if, immediately after giving effect to the Incurrence
of such additional Secured Debt and any other Secured Debt Incurred since the end of the Latest Completed Quarter and the application
of the net proceeds therefrom, the aggregate principal amount of all outstanding Secured Debt would exceed 50% of the sum of (without
duplication) (i) Total Assets as of the end of the Latest Completed Quarter and (ii) the purchase price of any Real Estate Assets
or mortgages receivable acquired, and the amount of any securities offering proceeds received (to the extent such proceeds were not used
to acquire Real Estate Assets or mortgages receivable or to reduce Debt), since the end of the Latest Completed Quarter.

 

(c)            Ventas, Inc.
shall not, and shall not permit any of its Subsidiaries to, Incur any Debt if, immediately after giving effect to the Incurrence
of such additional Debt and any other Debt Incurred since the end of the Latest Completed Quarter and the application of the net proceeds
therefrom, the ratio of Consolidated EBITDA to Interest Expense for the four (4) consecutive fiscal quarters ending with the Latest
Completed Quarter would be less than 1.50 to 1.00 on a pro forma basis and calculated on the assumption (without duplication) that:

 

(i)            the
additional Debt and any other Debt Incurred by Ventas, Inc. or any of its Subsidiaries since the first day of such four-quarter period
to the date of determination, which was outstanding at the date of determination, had been Incurred at the beginning of that period and
continued to be outstanding throughout that period, and the application of the net proceeds of such Debt, including to refinance other
Debt, had occurred at the beginning of such period, except that in determining the amount of Debt so Incurred, the amount of Debt under
any revolving credit facility shall be computed based upon the average daily balance of such Debt during such period;

 

(ii)            the
repayment or retirement of any other Debt repaid or retired by Ventas, Inc. or any of its Subsidiaries since the first day of such
four-quarter period to the date of determination had occurred at the beginning of that period, except that in determining the amount of
Debt so repaid or retired, the amount of Debt under any revolving credit facility shall be computed based upon the average daily balance
of such Debt during such period; and

 

    12 

     

    

 

(iii)            in
the case of any acquisition or disposition of any asset or group of assets (including, without limitation, by merger, or stock or asset
purchase or sale) or the placement of any assets in service or removal of any assets from service by Ventas, Inc. or any of its Subsidiaries
since the first day of such four-quarter period to the date of determination, the acquisition, disposition, placement in service or removal
from service and any related repayment or refinancing of Debt had occurred as of the first day of such period, with the appropriate adjustments
to Consolidated EBITDA and Interest Expense with respect to the acquisition, disposition, placement in service or removal from service
being included in that pro forma calculation.

 

Section 4.11
Maintenance of Unencumbered Assets. Ventas, Inc. and its Subsidiaries shall maintain at all times Unencumbered Assets
of not less than 150% of the aggregate principal amount of all outstanding Unsecured Debt.”

 

ARTICLE V

 

SUCCESSORS

 

Section 5.01 Amendments to Article 5.

 

(a)            Pursuant
to Section 2.02(23) of the Base Indenture, Section 5.01 of the Base Indenture is hereby amended with respect to the Notes by
deleting the text thereof in its entirety and inserting in its place the following:

 

“Section 5.01 Merger, Consolidation,
or Sale of Assets.

 

Ventas, Inc. may not, directly or
indirectly: (a) consolidate or merge with or into another Person (whether or not Ventas, Inc. is the surviving corporation);
or (b) sell, assign, transfer, convey, lease (other than to an unaffiliated operator in the ordinary course of business) or otherwise
dispose of all or substantially all of the properties or assets of Ventas, Inc. and its Subsidiaries taken as a whole, in one or
more related transactions, to another Person, unless:

 

(1)            either:

 

(i)            Ventas, Inc.
is the surviving corporation; or

 

(ii)            the
Person formed by or surviving any such consolidation or merger (if other than Ventas, Inc.) or to which such sale, assignment, transfer,
conveyance or other disposition has been made is a corporation organized or existing under the laws of the United States, any state of
the United States or the District of Columbia;

 

(2)            the
Person formed by or surviving any such consolidation or merger (if other than Ventas, Inc.) or the Person to which such sale, assignment,
transfer, conveyance or other disposition has been made assumes all of Ventas, Inc.’s obligations under the Notes and the Indenture
pursuant to agreements reasonably satisfactory to the Trustee; and

 

(3)            immediately
after such transaction, on a pro forma basis giving effect to such transaction or series of transactions (and treating any obligation
of Ventas, Inc. or any Subsidiary incurred in connection with or as a result of such transaction or series of transactions as having
been incurred at the time of such transaction), no Default or Event of Default exists under the Indenture.

 

Notwithstanding anything to the contrary
in this Section 5.01, the Guarantor may consolidate or merge with or into the Issuer, or sell and/or transfer to the Issuer all or
substantially all of its assets, in each case, without compliance with any of the requirements set forth in this Article 5.”

 

    13 

     

    

 

ARTICLE VI

 

DEFAULTS AND REMEDIES

 

Section 6.01 Amendments to Article 6.

 

(a)            Pursuant
to Section 2.02(14) of the Base Indenture, Section 6.01 of the Base Indenture is hereby amended with respect to the Notes by
deleting the text thereof in its entirety and inserting in its place the following:

 

“Section 6.01 Events of Default.

 

Each of the following is an “Event of Default”:

 

(1)            Ventas, Inc.
or the Issuer does not pay the principal or any premium on any Note when due and payable (including in connection with any obligation
to redeem the Notes pursuant to a Special Mandatory Redemption pursuant to Section 3.10);

 

(2)            Ventas, Inc.
or the Issuer does not pay interest on any Note within 30 days after the applicable due date;

 

(3)            Ventas, Inc.
or its Subsidiaries remain in breach of any other term of the Indenture for 90 days after they receive a notice of Default stating they
are in breach. Either the Trustee or the Holders of more than 25% in aggregate principal amount of the Notes then Outstanding may send
the notice;

 

(4)            except
as permitted by the Indenture and the Notes, the Securities Guarantee by the Guarantor shall cease to be in full force and effect or the
Guarantor shall deny or disaffirm its obligations with respect thereto;

 

(5)            the
Issuer, Ventas, Inc. or any of its Significant Subsidiaries default under any of their indebtedness (including a default with respect
to Securities of any series issued under the Base Indenture other than the Notes) in an aggregate principal amount exceeding $50.0 million
after the expiration of any applicable grace period, which default results in the acceleration of the maturity of such indebtedness. Such
default is not an Event of Default if the other indebtedness is discharged, or the acceleration is rescinded or annulled, within a period
of 30 days after the Issuer, Ventas, Inc. or any such Significant Subsidiary, as the case may be, receives notice specifying the
default and requiring that they discharge the other indebtedness or cause the acceleration to be rescinded or annulled. Either the Trustee
or the Holders of more than 25% in aggregate principal amount of the Notes then Outstanding may send the notice;

 

(6)            the
Issuer, Ventas, Inc. or any of its Significant Subsidiaries, or any group of Subsidiaries that, taken as a whole, would constitute
a Significant Subsidiary:

 

(i)              commence
a voluntary case;

 

(ii)             consent
to the entry of an order for relief against them in an involuntary case;

 

(iii)            consent
to the appointment of a custodian of them or for all or substantially all of their property;

 

    14 

     

    

 

(iv)            make
a general assignment for the benefit of their creditors; or

 

(v)             generally
are not paying their debts as they become due; or

 

(7)            a
court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:

 

(i)              is
for relief against the Issuer, Ventas, Inc. or any of its Significant Subsidiaries, or any group of Subsidiaries that, taken as a
whole, would constitute a Significant Subsidiary, in an involuntary case;

 

(ii)             appoints
a custodian of the Issuer, Ventas, Inc. or any of its Significant Subsidiaries, or any group of Subsidiaries that, taken as a whole,
would constitute a Significant Subsidiary, or for all or substantially all of the property of the Issuer, Ventas, Inc. or any of
its Significant Subsidiaries, or any group of Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary; or

 

(iii)            orders
the liquidation of the Issuer, Ventas, Inc. or any of its Significant Subsidiaries, or any group of Subsidiaries that, taken as a
whole, would constitute a Significant Subsidiary;

 

and the order or decree remains unstayed and in effect for
60 consecutive days.”

 

(b)            Pursuant
to Section 2.02(14) of the Base Indenture, Section 6.02 of the Base Indenture is hereby amended with respect to the Notes by
(i) deleting the first sentence thereof in its entirety and inserting in its place the following:

 

“In the case of an Event of Default
specified in clause (6) or (7) of Section 6.01, with respect to the Issuer, Ventas, Inc. or any of its Significant
Subsidiaries or any group of Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary, all Outstanding Notes will
become due and payable immediately without further action or notice.”

 

and (ii) adding to the end of Section 6.02 the following:

 

“Notwithstanding anything to the
contrary contained in the Indenture, the sole remedy for an Event of Default relating to a failure to comply with any of the provisions
of Section 4.03 hereof shall consist exclusively of the right to receive additional interest on the Notes at an annual rate equal
to 0.25% of the outstanding principal amount of the Notes. This additional interest will be payable in the same manner and on the same
dates as the stated interest payable on the Notes and will accrue on all Outstanding Notes from and including the date on which such Event
of Default first occurs to, but not including, the date on which such Event of Default shall have been cured or waived.”

 

(c)            Pursuant
to Section 2.02(14) of the Base Indenture, Section 6.08 of the Base Indenture is hereby amended with respect to the Notes by
deleting from the first line thereof the reference to clause (3) of Section 6.01 of the Base Indenture.

 

ARTICLE VII

 

TRUSTEE

 

Section 7.01 Amendments to Article 7.
Pursuant to Section 2.02(14) of the Base Indenture, Section 7.07(e) of the Base Indenture is hereby amended with respect
to the Notes by changing the references to Section 6.01(7) or (8) therein to Section 6.01(6) or (7).

 

    15 

     

    

 

ARTICLE VIII

 

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

 

Section 8.01 Applicability of Defeasance
Provisions. Pursuant to Sections 2.02(17) and 8.01 of the Base Indenture, so long as any of the Notes are Outstanding, Sections 8.02
and 8.03 of the Base Indenture shall be applicable to the Notes.

 

Section 8.02 Determinations Under Section 8.03.
For the purposes of Sections 2.02(17) and 8.03 of the Base Indenture, Section 8.03 of the Base Indenture shall apply to Sections
4.09 through 4.11, inclusive.

 

Section 8.03 Determination Under Section 8.07.
For the purposes of Sections 8.07 and 11.02 of the Base Indenture, the provisions of Section 8.07 of the Base Indenture shall apply
to the Notes.

 

Section 8.04 Amendments to Article 8.

 

(a) Pursuant to Section 2.02(17) of the
Base Indenture, the last sentence of Section 8.03 of the Base Indenture is hereby amended with respect to the Notes by changing the
references to Sections 6.01(4) through 6.01(6) therein to Sections 6.01(3) through 6.01(5).

 

ARTICLE IX

 

GUARANTEES

 

Section 9.01 Applicability of Guarantee Provisions.

 

(a)            Pursuant
to Sections 2.02(1) and 10.01 of the Base Indenture, so long as any of the Notes are Outstanding, Article 10 shall be applicable
to the Notes.

 

(b)            Pursuant
to Section 2.02(23) of the Base Indenture, Section 10.03 of the Base Indenture is hereby amended with respect to the Notes by
deleting the text thereof in its entirety and inserting in its place the following:

 

“To evidence its Securities Guarantee
as set forth in Section 10.01 in respect of the Notes, an Officer of the Guarantor shall execute the Indenture on behalf of such
Guarantor, and the Guarantor hereby agrees that such Securities Guarantee shall become effective upon such execution and shall remain
in full force and effect thereafter, subject to the terms of the Indenture.”

 

If an Officer whose signature is on this
Indenture no longer holds that office at the time the Trustee authenticates the Notes, such Securities Guarantee will be valid nonetheless.

 

The delivery of any Note by the Trustee
after the authentication thereof hereunder will constitute the delivery of the Securities Guarantee set forth in this Indenture on behalf
of the Guarantor.”

 

ARTICLE X

 

MISCELLANEOUS

 

Section 10.01 Determination Under Section 13.10.
For the purposes of Section 13.10 of the Base Indenture, the agreements of the Guarantor will bind its successors except as otherwise
provided in Article 10 of the Base Indenture.

 

    16 

     

    

 

Section 10.02 Application of Seventh Supplemental
Indenture; Ratification.

 

(a)            Each
and every term and condition contained in this Seventh Supplemental Indenture that modifies, amends or supplements the terms and conditions
of the Base Indenture shall apply only to the Notes created hereby and not to any future series of Securities established under the Indenture.

 

(b)            The
Base Indenture, as supplemented and amended by this Seventh Supplemental Indenture, is in all respects ratified and confirmed, and the
Base Indenture and this Seventh Supplemental Indenture shall be read, taken and construed as the same instrument.

 

(c)            In
the event of any conflict between this Seventh Supplemental Indenture and the Base Indenture, the provisions of this Seventh Supplemental
Indenture shall prevail.

 

Section 10.03 Benefits of Seventh Supplemental
Indenture. Nothing contained in this Seventh Supplemental Indenture shall or shall be construed to confer upon any Person other than
a Holder of the Notes, the Issuer, the Guarantor or the Trustee any right or interest to avail itself of any benefit under any provision
of the Base Indenture or this Seventh Supplemental Indenture.

 

Section 10.04 Effective Date. This Seventh
Supplemental Indenture shall be effective as of the date first above written and upon the execution and delivery hereof by each of the
parties hereto.

 

Section 10.05 Governing Law. This Seventh
Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State of New York, without regard to conflicts
of laws principles thereof.

 

Section 10.06 Counterparts. This Seventh
Supplemental Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but
all such counterparts shall together constitute but one and the same instrument. The exchange of copies of this Indenture and of signature
pages by facsimile, PDF or other electronic transmission shall constitute effective execution and delivery of this Indenture as to
the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by
facsimile, PDF or other electronic transmission shall constitute effective execution and delivery of this Indenture as to the other parties
hereto shall be deemed to be their original signatures for all purposes.

 

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

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

    17 

     

    

 

IN WITNESS WHEREOF, the parties hereto have caused
this Seventh Supplemental Indenture to be duly executed by their respective officers hereunto duly authorized, all as of the day and year
first above written.

 

	 	

ISSUER

	 	 	 
	 	VENTAS REALTY, LIMITED PARTNERSHIP
	 	 	 
	 	 	By:	Ventas, Inc., its General Partner
	 	 	 	 	 
	 	 	 	By:	/s/ Robert F. Probst
	 	 	 	 	Name:	Robert F. Probst
	 	 	 	 	Title:	Executive Vice President and Chief Financial Officer

 

	 	GUARANTOR
	 	 	 
	 	VENTAS, INC.
	 	 	 
	 	 	By:	/s/ Robert F. Probst
	 	 	 	Name:	Robert F. Probst
	 	 	 	Title: 	Executive Vice President and Chief Financial Officer

 

[Signature Page to Seventh Supplemental
Indenture]

 

     

     

    

 

	 	TRUSTEE
	 	 
	 	U.S. BANK NATIONAL ASSOCIATION
	 	 	 
	 	 	By:	/s/ Daniel Boyers
	 	 	 	Name: 	Daniel Boyers
	 	 	 	Title: 	Vice President

 

[Signature Page to Seventh Supplemental
Indenture]

 

     

     

    

 

SCHEDULE 1

 

Real Estate Revenues

 

     

     

    

 

Exhibit A

 

Form of Note

 

[See attached.]

 

     

     

    

 

FORM OF
NOTE

 

[Front of
Note]

 

 

CUSIP # 92277G AW7

 

2.500% Senior Note due 2031

 

	No. ___	$ _______________

 

VENTAS REALTY, LIMITED PARTNERSHIP

 

promises to pay to CEDE & CO. or registered assigns, the principal
sum of ________________ Dollars on September 1, 2031.

 

Interest Payment Dates: March 1 and September 1

 

Record Dates: February 15 and August 15

 

Dated: ____________, 20___

 

THIS GLOBAL SECURITY IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE
GOVERNING THIS SECURITY) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON
UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO
SECTION 2.07 OF THE INDENTURE, (2) THIS GLOBAL SECURITY MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT
TO SECTION 2.07(a) OF THE INDENTURE, (3) THIS GLOBAL SECURITY MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION
PURSUANT TO SECTION 2.12 OF THE INDENTURE AND (4) THIS GLOBAL SECURITY MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY
WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER.

 

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES
IN DEFINITIVE FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY
A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR
DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED
BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

    A-1 

     

    

 

	 	VENTAS REALTY, LIMITED PARTNERSHIP
	 	 
	 	By: Ventas, Inc., its General Partner
	 	 	 
	 	By:	 
	 		Name:
	 		Title:

 

    A-2 

     

    

 

This is one of the Securities of the

series designated therein referred to

in the within-mentioned Indenture:

 

	U.S. BANK NATIONAL ASSOCIATION,
 as Trustee	 
	 	 	 
	By:		 
	 	Authorized Signatory	 

 

    A-3 

     

    

 

[Back of Note]

 

 

2.500% Senior Notes due 2031

 

Capitalized terms used herein have the meanings assigned to them in
the Indenture referred to below unless otherwise indicated.

 

(1)          Interest.
Ventas Realty, Limited Partnership (the “Issuer”) promises to pay interest on the principal amount of this Note at
2.500% per annum from August 20, 2021 until maturity. The Issuer will pay interest semi-annually in arrears on March 1 and September 1
of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”).
Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from August 20,
2021; provided, that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record
date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest
Payment Date; provided, further, that the first Interest Payment Date shall be March 1, 2022. The Issuer will pay interest
(including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time
on demand at a rate that is 1% per annum in excess of the rate then in effect; the Issuer will pay interest (including post-petition interest
in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from
time to time on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day
months.

 

(2)          Method
of Payment. The Issuer will pay interest on the Notes (except defaulted interest) to the Persons who are registered Holders of Notes
at the close of business on the February 15 or August 15 (each, a “Record Date”) preceding the next Interest
Payment Date, even if such Notes are canceled after such record date and on or before such Interest Payment Date, except as provided in
Section 2.13 of the Indenture with respect to defaulted interest. The Notes will be payable as to principal, premium, if any, and
interest at the office or agency of the Issuer maintained for such purpose within or without the City and State of New York, or, at the
option of the Issuer, payment of interest may be made by check mailed to the Holders at their addresses set forth in the register of Holders;
provided, that payment by wire transfer of immediately available funds will be required with respect to principal of and interest
and premium, if any, on all Global Notes and all other Notes the Holders of which will have provided wire transfer instructions to the
Issuer or the Paying Agent. Such payment will be in such coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts.

 

(3)          Paying
Agent and Registrar. Initially, U.S. Bank National Association, the Trustee under the Indenture, will act as Paying Agent and Registrar.
The Issuer may change any Paying Agent or Registrar without notice to any Holder. The Issuer or any of its Subsidiaries may act in any
such capacity.

 

(4)          Indenture.
The Issuer issued the Notes under an indenture, dated as of February 23, 2018 (the “Base Indenture”), as amended
by the Seventh Supplemental Indenture, dated as of August 20, 2021 (the “Seventh Supplemental Indenture” and,
together with the Base Indenture and as the Base Indenture and the Seventh Supplemental Indenture may be further amended and supplemented
from time to time, the “Indenture”), among the Issuer, the Guarantor named therein and the Trustee. The terms of the
Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended
(15 U.S. Code §§ 77aaa-77bbbb). The Notes are subject to all such terms, and Holders are referred to the Indenture and such
Act for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the
provisions of the Indenture shall govern and be controlling. The Notes are unsecured obligations of the Issuer.

 

(5)          Optional
Redemption. (a) The Issuer may, at its option, redeem the Notes at any time prior to maturity, in whole or from time to time
in part.

 

(b)          The
redemption price for any redemption of the Notes before June 1, 2031 shall be equal to the sum of (i) the principal amount
of the Notes being redeemed, (ii) accrued and unpaid interest thereon, if any, to (but excluding) the redemption date, and
(iii) the Make-Whole Amount, if any (subject to the right of holders of record on the relevant Record Date to receive interest due
on the relevant Interest Payment Date). The redemption price for any redemption of the Notes on or after June 1, 2031 shall be equal
to the sum of (i) the principal amount of the Notes being redeemed and (ii) accrued and unpaid interest thereon,
if any, to (but excluding) the redemption date.

 

(c)          Any
redemption of the Notes pursuant to this Section 5 shall be made pursuant to the provisions of Sections 3.01 through 3.07 of the
Indenture.

 

    A-4 

     

    

 

(6)            Mandatory
Redemption. Other than with respect to a Special Mandatory Redemption pursuant to Section 7 of this Note and Section 3.10
of the Indenture, the Issuer will not be required to make mandatory redemption payments with respect to the Notes.

 

(7)            Special
Mandatory Redemption. If (i) the New Senior Investment Group Acquisition has not been consummated on or prior to April 20,
2022 or (ii) prior to such date, Ventas, Inc. notifies the Trustee that Ventas, Inc. will not pursue the consummation of
the New Senior Investment Group Acquisition (each of (i) and (ii), a “Special Mandatory Redemption Trigger”),
the Issuer will be required to redeem all of the Notes (such redemption, the “Special Mandatory Redemption”) at a special
mandatory redemption price equal to 101% of their principal amount, together with accrued and unpaid interest thereon, if any, to (but
excluding) the Special Mandatory Redemption Date (as defined below) (the “Special Mandatory Redemption Price”).

 

In the event that the Issuer becomes
obligated to redeem the Notes pursuant to the Special Mandatory Redemption, it will promptly, and in any event not more than ten Business
Days after the date on which a Special Mandatory Redemption Trigger occurred, deliver notice to the Trustee of the Special Mandatory Redemption
and the date upon which the Notes will be redeemed (the “Special Mandatory Redemption Date,” which date shall be no
later than the third Business Day following the date of such notice), together with a notice of Special Mandatory Redemption for the Trustee
to deliver to each registered holder of Notes to be redeemed. The Trustee will then promptly mail, or electronically deliver, according
to the procedures of DTC, such notice of the Special Mandatory Redemption to each registered holder of the Notes to be redeemed. Unless
the Issuer defaults in payment of the Special Mandatory Redemption Price, on and after such Special Mandatory Redemption Date, interest
will cease to accrue on the Notes to be redeemed.

 

Notwithstanding the foregoing, installments
of interest on the Notes that are due and payable on interest payment dates falling on or prior to the Special Mandatory Redemption Date
will be payable on such interest payment dates to the registered holders as of the close of business on the relevant record dates.

 

Upon the occurrence of the consummation
of the New Senior Investment Group Acquisition, the foregoing provisions in this Section 9 regarding the Special Mandatory Redemption
shall cease to apply.

 

(8)            Notice
of Redemption. Notice of redemption will be mailed at least 15 days but not more than 60 days before the redemption date to each Holder
whose Notes are to be redeemed at its registered address. Notes in denominations larger than $2,000 may be redeemed in part but only in
whole multiples of $1,000, unless all of the Notes held by a Holder are to be redeemed. On and after the redemption date interest ceases
to accrue on Notes or portions thereof called for redemption.

 

(9)            Denominations,
Transfer, Exchange. The Notes are in registered form without coupons in denominations of $2,000 and integral multiples of $1,000.
The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require
a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Issuer may require a Holder to pay any
taxes and fees required by law or permitted by the Indenture. The Issuer need not exchange or register the transfer of any Note or portion
of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part. Also, the Issuer need not exchange
or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between
a Record Date and the corresponding Interest Payment Date.

 

(10)          Persons
Deemed Owners. The registered Holder of a Note may be treated as its owner for all purposes.

 

(11)          Amendment,
Supplement and Waiver. Subject to certain exceptions, the Indenture, the Securities Guarantee or the Notes may be amended or supplemented
with the consent of the Holders of at least a majority in principal amount of the then Outstanding Securities affected by such amendment
or supplemental indenture voting as a single class, and any existing Default or Event of Default or compliance with any provision of
the Indenture, the Securities Guarantee or the Notes may be waived with the consent of the Holders of a majority in principal amount
of the then Outstanding Securities affected thereby voting as a single class. Without the consent of any Holder of a Note, the Indenture,
the Securities Guarantee or the Notes may be amended or supplemented to, among other things, cure any ambiguity, defect or inconsistency;
to provide for uncertificated Notes in addition to or in place of certificated Notes; to provide for the assumption of the Issuer’s
obligations to Holders of Notes in the case of a merger or consolidation or sale of all or substantially all of the Issuer’s assets;
to add additional Securities Guarantees with respect to the Notes; to secure the Notes; to make any other change that would provide any
additional rights or benefits to the Holders of Notes or that does not adversely affect the legal rights under the Indenture of any such
Holder; or to comply with requirements of the Commission in order to effect or maintain the qualification of the applicable Indenture
under the Trust Indenture Act.

 

    A-5 

     

    

 

(12)          Defaults
and Remedies. Events of Default with respect to the Notes include: (i) default in the payment of principal or any premium on
the Notes when due and payable; (ii) default in the payment of interest on the Notes within 30 days after the applicable due date;
(iii) breach of any other term of the Indenture for 90 days after receipt of a notice of Default stating the Issuer is in breach;
(iv) default under any of certain Debt of the Issuer, Ventas, Inc. and its Significant Subsidiaries, which default results in
the acceleration of the maturity of such indebtedness, unless such other Debt is discharged, or the acceleration is rescinded or annulled,
within 30 days after the Issuer, Ventas, Inc. or any of its Significant Subsidiaries, as applicable, receive notice of the default;
and (v) certain events in bankruptcy, insolvency or reorganization occur with respect to the Issuer, Ventas, Inc. or any of
its Significant Subsidiaries or any group of Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary. If any Event
of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then Outstanding Notes may
declare the entire principal amount of the Notes to be due and payable; provided, that the sole remedy for an Event of Default
relating to a failure to comply with any of the provisions of Section 4.03 of the Indenture shall consist exclusively of the right
to receive additional interest on the Notes in accordance with the terms set forth in the Indenture. Notwithstanding the foregoing, in
the case of an Event of Default arising from certain events of bankruptcy or insolvency, all Outstanding Notes will become due and payable
without further action or notice. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. Subject to certain
limitations, the Holders of a majority in principal amount of the then Outstanding Notes may direct the Trustee in its exercise of any
trust or power. The Trustee may withhold from Holders of the Notes notice of any continuing Default or Event of Default (except a Default
or Event of Default in the payment of principal or interest) if and so long as it in good faith determines that withholding notice is
in the interest of the Holders of the Notes. Subject to certain exceptions, the Holders of a majority in aggregate principal amount of
the then Outstanding Notes by notice to the Trustee may on behalf of the Holders of all of the Notes waive any existing Default or Event
of Default and its consequences under the Indenture except a continuing Default or Event of Default in the payment of principal of, premium,
if any, or interest on the Notes. The Issuer is required to deliver to the Trustee annually a statement regarding compliance with the
Indenture.

 

(13)          Trustee
Dealings with Issuer. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services
for the Issuer or its Affiliates, and may otherwise deal with the Issuer or its Affiliates as if it were not the Trustee.

 

(14)          No
Recourse Against Others. No director, officer, employee or stockholder of Ventas, Inc. or any of its Subsidiaries, as such, will
have any liability for any obligations of Ventas, Inc. or any of its Subsidiaries under the Notes or the Indenture based on, in respect
of, or by reason of such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability.
The foregoing waiver and release are an integral part of the consideration for the issuance of the Notes.

 

(15)          Authentication.
This Note will not be valid until authenticated by the manual signature of the Trustee or an authenticating agent.

 

(16)          Abbreviations.
Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants
by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A
(= Uniform Gifts to Minors Act).

 

(17)          CUSIP
Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Issuer has caused
CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No
representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption and
reliance may be placed only on the other identification numbers placed thereon.

 

(18)          The
due and punctual payment of principal and interest and premium, if any, on the Notes is unconditionally guaranteed on an unsecured senior
basis by the Guarantor to the extent set forth in, and subject to the provisions of, the Indenture.

 

    A-6 

     

    

 

The Issuer will furnish to any Holder upon written request and without
charge a copy of the Indenture. Requests may be made to:

 

Ventas Realty, Limited Partnership

c/o Ventas, Inc.

353 North Clark Street, Suite 3300

Chicago, Illinois 60654

Attention: General Counsel

 

    A-7 

     

    

 

Assignment Form

 

To assign this Note, fill in the form below:

 

	(I) or (we) assign and transfer this Note to:	 
	 	(Insert assignee’s legal name)
	(Insert assignee’s Soc. Sec. or Tax I.D. No.)
	 
	 
	 
	(Print or type assignee’s name, address and zip code)

 

	and irrevocably appoint	 
	to transfer this Note on the books of the Issuer. The agent may substitute another to act for him.

 

	Date:	 	 

 

	 	 	Your Signature:	 
	 	 	(Sign exactly as your name appears on the face of this Note) 
	Signature Guarantee*:	 	 

 

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

 

    A-8 

     

    

 

SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL
NOTE

 

 

The following exchanges of a part of this Global Note for an interest
in another Global Note or for a Definitive Note, or exchanges of a part of another Global Note or Definitive Note for an interest in this
Global Note, have been made:

 

	
    Date of Exchange
	 	
    Amount of

    decrease in

    Principal Amount

    of this Global Note
	 	
    Amount of increase

    in Principal

    Amount of this

    Global Note
	 	
    Principal Amount
    of this Global Note following

    such decrease

    (or increase)
	 	
    Signature of

    authorized

    officer of Trustee

    or Custodian

	 	 	 	 	 	 	 	 	 

 

    A-9

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