Document:

Execution
Version

 

Exhibit
4.1

   

SENIOR NOTES INDENTURE

 

Dated as of August 19, 2021

 

Among

 

ADAPTHEALTH LLC

 

THE GUARANTORS LISTED ON THE SIGNATURE PAGES HERETO

 

and

 

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

as Trustee

 

5.125% SENIOR NOTES DUE 2030

	 

 

     

     

    

   

TABLE OF CONTENTS

 

Page

 

	Article 1 DEFINITIONS AND INCORPORATION BY REFERENCE 	 1

 

	Section 1.01	 	Definitions	1
	Section 1.02	 	Other Definitions	25
	Section 1.03	 	Rules of Construction	26
	Section 1.04	 	Trust Indenture Act	26
	Section 1.05	 	Acts of Holders	27
	Section 1.06	 	Limited Condition Transactions	29

 

	Article 2 THE NOTES	 	29

 

	Section 2.01	 	Form and Dating; Terms	29
	Section 2.02	 	Execution and Authentication	30
	Section 2.03	 	Registrar and Paying Agent	30
	Section 2.04	 	Paying Agent to Hold Money in Trust	30
	Section 2.05	 	Holder Lists	31
	Section 2.06	 	Transfer and Exchange	31
	Section 2.07	 	Replacement Notes	32
	Section 2.08	 	Outstanding Notes	32
	Section 2.09	 	Treasury Notes	32
	Section 2.10	 	Temporary Notes	33
	Section 2.11	 	Cancellation	33
	Section 2.12	 	Defaulted Interest	33
	Section 2.13	 	CUSIP and ISIN Numbers	33

 

	Article 3 REDEMPTION	 	34

 

	Section 3.01	 	Notices to Trustee	34
	Section 3.02	 	Selection and Notice	34
	Section 3.03	 	Notice of Redemption	34
	Section 3.04	 	Effect of Notice of Redemption	35
	Section 3.05	 	Deposit of Redemption or Purchase Price	35
	Section 3.06	 	Notes Redeemed or Purchased in Part	36
	Section 3.07	 	Optional Redemption	36
	Section 3.08	 	Mandatory Redemption	37

 

	Article 4 COVENANTS	 	37

 

	Section 4.01	 	Payment of Notes	37
	Section 4.02	 	Maintenance of Office or Agency	37
	Section 4.03	 	Taxes	37
	Section 4.04	 	Reports	37
	Section 4.05	 	Compliance Certificate	40
	Section 4.06	 	Stay, Extension and Usury Laws	41
	Section 4.07	 	Restricted Payments	41
	Section 4.08	 	Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries	44
	Section 4.09	 	Incurrence of Indebtedness and Issuance of Disqualified Stock	46
	Section 4.10	 	Asset Sales	50
	Section 4.11	 	Transactions with Affiliates	52
	Section 4.12	 	Liens	54

 

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Page

 

	Section 4.13	 	Effectiveness of Covenants	54
	Section 4.14	 	Corporate Existence	55
	Section 4.15	 	Offer to Repurchase Upon a Change of Control	55
	Section 4.16	 	Designation of Restricted and Unrestricted Subsidiaries	56
	Section 4.17	 	Additional Subsidiary Guarantees	56
	Section 4.18	 	Limitation on Activities of AdaptHealth Intermediate	56

 

	Article 5 SUCCESSORS	 	57

 

	Section 5.01	 	Merger, Consolidation or Sale of Assets	57
	Section 5.02	 	Successor Entity Substituted	58

 

	Article 6 DEFAULTS AND REMEDIES	 	58

 

	Section 6.01	 	Events of Default	58
	Section 6.02	 	Acceleration	59
	Section 6.03	 	Other Remedies	59
	Section 6.04	 	Waiver of Past Defaults	59
	Section 6.05	 	Control by Majority	59
	Section 6.06	 	Limitation on Suits	59
	Section 6.07	 	Rights of Holders to Receive Payment	60
	Section 6.08	 	Collection Suit by Trustee	60
	Section 6.09	 	Restoration of Rights and Remedies	60
	Section 6.10	 	Rights and Remedies Cumulative	60
	Section 6.11	 	Delay or Omission Not Waiver	60
	Section 6.12	 	Trustee May File Proofs of Claim	60
	Section 6.13	 	Priorities	61
	Section 6.14	 	Undertaking for Costs	61

 

	Article 7 TRUSTEE	 	 	61

 

	Section 7.01	 	Duties of Trustee	61
	Section 7.02	 	Rights of Trustee	62
	Section 7.03	 	Individual Rights of Trustee	63
	Section 7.04	 	Trustee’s Disclaimer	63
	Section 7.05	 	Notice of Defaults	64
	Section 7.06	 	Compensation and Indemnity	64
	Section 7.07	 	Replacement of Trustee	64
	Section 7.08	 	Successor Trustee by Merger, etc.	65
	Section 7.09	 	Eligibility; Disqualification	65

 

	Article 8 LEGAL DEFEASANCE AND COVENANT DEFEASANCE	 	66

 

	Section 8.01	 	Option to Effect Legal Defeasance or Covenant Defeasance	66
	Section 8.02	 	Legal Defeasance and Discharge	66
	Section 8.03	 	Covenant Defeasance	66
	Section 8.04	 	Conditions to Legal or Covenant Defeasance	67
	Section 8.05	 	Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions	67
	Section 8.06	 	Repayment to the Company	68
	Section 8.07	 	Reinstatement	68

 

	Article 9 AMENDMENT, SUPPLEMENT AND WAIVER	 	68

 

	Section 9.01	 	Without Consent of Holders	68

 

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Page

 

	Section 9.02	 	With
    Consent of Holders	69
	Section 9.03	 	[Reserved]	70
	Section 9.04	 	Revocation and
    Effect of Consents	70
	Section 9.05	 	Notation on
    or Exchange of Notes	70
	Section 9.06	 	Trustee to Sign
    Amendments, etc.	71

 

	Article 10
    GUARANTEES	 	 	71

 

	Section 10.01	 	Guarantees	71
	Section 10.02	 	Limitation on
    Guarantor Liability	72
	Section 10.03	 	Execution and
    Delivery	72
	Section 10.04	 	Guarantors May
    Consolidate, etc., on Certain Terms	73
	Section 10.05	 	Releases	73

 

	Article 11
    SATISFACTION AND DISCHARGE	 	 	74

 

	Section 11.01	 	Satisfaction
    and Discharge	74
	Section 11.02	 	Application
    of Trust Money	74

 

	Article 12
    MISCELLANEOUS	 	 	75

 

	Section 12.01	 	[Reserved]	75
	Section 12.02	 	Notices	75
	Section 12.03	 	[Reserved]	76
	Section 12.04	 	Certificate
    and Opinion as to Conditions Precedent	76
	Section 12.05	 	Statements Required
    in Certificate or Opinion	77
	Section 12.06	 	Rules by Trustee
    and Agents	77
	Section 12.07	 	No Personal
    Liability of Directors, Officers, Employees, Incorporator, Stockholder, Member, Partner or Other Holder of Equity Interests	77
	Section 12.08	 	Governing Law
    and Jurisdiction	77
	Section 12.09	 	Waiver of Jury
    Trial	77
	Section 12.10	 	Force Majeure	78
	Section 12.11	 	No Adverse Interpretation
    of Other Agreements	78
	Section 12.12	 	Successors	78
	Section 12.13	 	Severability	78
	Section 12.14	 	Counterpart
    Originals	78
	Section 12.15	 	Table of Contents,
    Headings, etc.	78
	Section 12.16	 	Facsimile and
    PDF Delivery of Signature Pages	78
	Section 12.17	 	U.S.A. PATRIOT
    Act; OFAC	78
	Section 12.18	 	Tax Information	79
	Section 12.19	 	Payments Due
    on Non-Business Days	79

 

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	Appendix A	 	Provisions Relating
    to Initial Notes and Additional Notes
	 	 	 
	Exhibit A	 	Form of Note
	Exhibit B	 	Form of Institutional Accredited
    Investor Transferee Letter of Representation
	Exhibit C	 	Form of Supplemental Indenture
    to Be Delivered by Subsequent Guarantors

 

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INDENTURE, dated as of August 19, 2021, among AdaptHealth
LLC, a Delaware limited liability company (the “Company”), the Guarantors listed on the signature pages hereto and
The Bank of New York Mellon Trust Company, N.A., as Trustee.

 

WITNESSETH

 

WHEREAS, the Company has duly authorized the creation
of and issuance of $600,000,000 aggregate principal amount of 5.125% Senior Notes due 2030 (the “Initial Notes”); and

 

WHEREAS, the Company and the Guarantors have duly
authorized the execution and delivery of this Indenture;

 

NOW, THEREFORE, the Company, the Guarantors and the
Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders.

 

Article 1

DEFINITIONS AND INCORPORATION BY REFERENCE

 

Section 1.01           Definitions.

 

“Acquired Debt” means, with
respect to any specified Person:

 

(1)            Indebtedness of any other Person existing at the time such other Person is merged with or into or became a Restricted Subsidiary
of such specified Person, whether or not such Indebtedness is incurred in connection with, or in contemplation of, such other Person merging
with or into, or becoming a Restricted Subsidiary of, such specified Person; and

 

(2)            Indebtedness secured by a Lien encumbering any asset acquired by such specified Person.

 

“AdaptHealth Intermediate” means
AdaptHealth Intermediate Holdco LLC.

 

“Additional Assets” means any
property or assets (other than Indebtedness and Capital Stock) to be used by the Company or a Restricted Subsidiary in a Permitted Business.

 

“Additional Notes” means additional
Notes (other than the Initial Notes) issued from time to time under this Indenture in accordance with Sections 2.01 and 4.09 of this Indenture
(whether or not such Notes have the same CUSIP number or ISIN).

 

“Affiliate” of any specified
Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such
specified Person. For purposes of this definition, “control,” as used with respect to any Person, means the possession, directly
or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership
of voting securities, by agreement or otherwise. For purposes of this definition, the terms “controlling,” “controlled
by” and “under common control with” have correlative meanings. No Person in whom a Receivables Subsidiary makes an Investment
in connection with a Qualified Receivables Transaction will be deemed to be an Affiliate of the Company or any of its Subsidiaries solely
by reason of such Investment.

 

“Agent” means any Registrar,
co-registrar, Paying Agent or additional paying agent.

 

“Applicable Premium” means,
with respect to any Note on any Make-Whole Redemption Date, the greater of (i) 1.0% of the then outstanding principal amount of such
Note and (ii) the excess of (A) the present value at such Make-Whole Redemption Date of (1) the redemption price of such Note at
March 1, 2025 (such redemption price being set forth in the table appearing in Section 3.07(b) of this Indenture), exclusive of
accrued interest, plus (2) all scheduled interest payments due on such Note from the Make-Whole Redemption Date through March
1, 2025, computed using a discount rate equal to the Treasury Rate at such Make-Whole Redemption Date, plus 50 basis points
over (B) the then outstanding principal amount of such Note.

 

     

     

    

 

“Asset Sale” means:

 

(1)            the sale, lease (other than operating leases), conveyance or other disposition of any assets or rights outside of the ordinary
course of business; provided that the sale, lease, conveyance or other disposition of all or substantially all of the assets of
the Company and its Restricted Subsidiaries taken as a whole will be governed by Sections 4.15 and 5.01 of this Indenture and not by Section
4.10 of this Indenture; and

 

(2)            the
issuance of Equity Interests in any of the Company’s Restricted Subsidiaries or the sale of Equity Interests in any of its Restricted
Subsidiaries whether effected pursuant to a Division or otherwise (other than directors’ qualifying Equity Interests or Equity
Interests required by applicable law to be held by a Person other than the Company or a Restricted Subsidiary).

 

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

 

(1)            any single transaction or series of related transactions that involves assets having a Fair Market Value of less than $10.0
million;

 

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

 

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

 

(4)            the sale or lease of products, services or accounts receivable (including at a discount) in the ordinary course of business
and any sale or other disposition of damaged, worn-out, negligible, surplus or obsolete assets in the ordinary course of business;

 

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

 

(6)            a
Restricted Payment that does not violate Section 4.07 of this Indenture or is a Permitted Investment;

 

(7)            a sale and leaseback transaction with respect to any assets within 180 days of the acquisition of such assets;

 

(8)            any
exchange of like-kind property of the type described in Section 1031 of the Internal Revenue Code of 1986, as amended, for use in a Permitted
Business;

 

(9)            the sale or disposition of any assets or property received as a result of a foreclosure by the Company or any of its Restricted
Subsidiaries on any secured Investment or any other transfer of title with respect to any secured Investment in default;

 

(10)          the licensing of intellectual property in the ordinary course of business or in accordance with industry practice;

 

(11)          the sale, lease, conveyance, disposition or other transfer of the Equity Interests of, or any Investment in, any Unrestricted
Subsidiary;

 

(12)          surrender or waiver of contract rights or the settlement, release or surrender of contract, tort or other claims of any
kind;

 

(13)          leases
or subleases to third persons in the ordinary course of business that do not interfere in any material respect with the business of the
Company or any of its Restricted Subsidiaries;

 

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(14)          sales
of accounts receivable and related assets of the type specified in the definition of Qualified Receivables Transaction to a Receivables
Subsidiary for the Fair Market Value thereof, less amounts required to be established as reserves and customary discounts pursuant to
contractual agreements with entities that are not Affiliates of the Company entered into as part of a Qualified Receivables Transaction;

 

(15)          transfers
of accounts receivable and related assets of the type specified in the definition of Qualified Receivables Transaction (or a fractional
undivided interest therein) by a Receivables Subsidiary in a Qualified Receivables Transaction;

 

(16)          dispositions
resulting from any casualty or other insured damage to, or any taking under power of eminent domain or by condemnation or similar proceeding
of, any property or asset of the Company or any Restricted Subsidiary; and

 

(17)          the
sale of Equity Interests in joint ventures to the extent required by or made pursuant to, customary buy/sell arrangements entered into
in the ordinary course of business between the joint venture parties and sent forth in joint venture agreements.

 

“Attributable Indebtedness” means,
on any date, in respect of any Capital Lease Obligation of any Person, the capitalized amount thereof that would appear as a liability
on a balance sheet of such Person prepared as of such date in accordance with GAAP.

 

“Bankruptcy Law” means Title
11, U.S. Code, as amended, or any similar federal or state law for the relief of debtors.

 

“Beneficial Owner” has the meaning
assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any
particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act), such “person” will be deemed
to have beneficial ownership of all securities that such “person” has the right to acquire by conversion or exercise of other
securities, whether such right is currently exercisable or is exercisable only after the passage of time.

 

“Board of Directors” means:

 

(1)            with respect to a corporation, the board of directors of the corporation or any committee thereof duly authorized to act
on behalf of such board;

 

(2)            with respect to a partnership, the Board of Directors of the general partner of the partnership;

 

(3)            with respect to a limited liability company, the managing member or members or any controlling committee of managing members
thereof; and

 

(4)            with
respect to any other Person, the board or committee of such Person serving a similar function.

 

“Business Day” means each day
that is not a Saturday, a Sunday or a day on which commercial banking institutions are not required to be open in the State of New York
or the place of payment.

 

“Capital Lease Obligation” means,
at the time any determination is to be made, the amount of the liability in respect of a capital lease that would at that time be
required to be capitalized on a balance sheet prepared in accordance with GAAP, and the Stated Maturity thereof shall be the date of the
last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be prepaid by the lessee
without payment of a penalty.

 

“Capital Stock” means:

 

(1)            in
the case of a corporation, corporate stock;

 

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(2)            in
the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated)
of corporate stock;

 

(3)            in the case of a partnership or limited liability company, partnership interests (whether general or limited) or membership
interests; and

 

(4)            any
other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions
of assets of, the issuing Person, but excluding from all of the foregoing any debt securities convertible into Capital Stock, whether
or not such debt securities include any right of participation with Capital Stock.

 

“Captive Insurance Subsidiary” means
a Subsidiary established by the Company or any of its Subsidiaries for the sole purpose of insuring the business, facilities and/or employees
of the Company and its Subsidiaries.

 

“Cash Equivalents” means:

 

(1)            U.S.
dollars or, in the case of any Restricted Subsidiary that is a Foreign Subsidiary, any other currencies held from time to time in the
ordinary course of business;

 

(2)            securities
issued or directly and fully guaranteed or insured by the U.S. government or any agency or instrumentality of the U.S. government (provided
that the full faith and credit of the United States is pledged in support of those securities) having maturities of not more than
12 months from the date of acquisition;

 

(3)            direct
obligations issued by any state of the United States of America or any political subdivision of any such state, or any public instrumentality
thereof, in each case having maturities of not more than 12 months from the date of acquisition;

 

(4)            certificates
of deposit and eurodollar time deposits with maturities of 12 months or less from the date of acquisition, bankers’ acceptances
with maturities not exceeding 12 months and overnight bank deposits, in each case, with any lender party to the Credit Agreement or with
any domestic commercial bank that has capital and surplus of not less than $500.0 million;

 

(5)            repurchase obligations with a term of not more than one year for underlying securities of the types described in clauses
(2) and (4) above entered into with any financial institution meeting the qualifications specified in clause (4) above;

 

(6)            commercial paper having one of the two highest ratings obtainable from Moody’s, S&P or Fitch and, in each case,
maturing within 12 months after the date of acquisition;

 

(7)            Indebtedness
or preferred stock issued by Persons with a rating of “A” or higher from S&P or “A2” or higher from Moody’s
(or an equivalent rating by Fitch) with maturities of 12 months or less from the date of acquisition;

 

(8)            money
market funds at least 95% of the assets of which constitute Cash Equivalents of the kinds described in clauses (1) through (6) of this
definition; and

 

(9)            solely
with respect to any Restricted Subsidiary, which is not a Subsidiary that was formed under the laws of the United States or any state
of the United States or the District of Columbia, investments of comparable tenor and credit quality to those described in the foregoing
clauses (2) through (8) customarily utilized in countries in which such Subsidiary operates for short-term cash management purposes.

 

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“Change of Control” means the
occurrence of any of the following:

 

(1)            the
direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a
series of related transactions, of all or substantially all of the properties or assets of the Company and its Subsidiaries taken as
a whole to any “person” (as that term is used in Section 13(d) of the Exchange Act);

 

(2)            the
adoption of a plan relating to the liquidation or dissolution of any Parent Company or the Company;

 

(3)            the consummation of any transaction (including, without limitation, any merger or consolidation), the result of which is
that any “person” (as defined above), other than a Permitted Parent or a Permitted Holder, becomes the Beneficial Owner, directly
or indirectly, of more than 50% of the Voting Stock of any Parent Company or the Company, measured by voting power rather than number
of shares; provided, however, for purposes of this clause (3), each Person will be deemed to beneficially own any Voting
Stock of another Person held by one or more of its Subsidiaries;

 

(4)            there is any transaction or series of transactions, including the election or appointment of a successor or additional Managing
Member or Managing Members, that results in a Person, other than a Permitted Parent or a Permitted Holder, beneficially owning, directly
or indirectly, more than 50% of the aggregate voting power of the Voting Stock of the Managing Member; or

 

(5)            the merger or consolidation of any Parent Company or the Company with or into another Person or the merger of another Person
with or into any Parent Company or the Company or the merger of any Person with or into a Subsidiary of the Company, unless the holders
of a majority of the aggregate voting power of the Voting Stock of such Parent Company or the Company, as applicable, immediately prior
to such transaction, hold securities of the surviving or transferee Person (or in the case of any merger of any Person with or into a
Subsidiary of the Company, hold securities of the Company) that represent, immediately after such transaction, at least a majority of
the aggregate voting power of the Voting Stock of the surviving or transferee Person (or in the case of any merger of any Person with
or into a Subsidiary of the Company, at least a majority of the aggregate voting power of the Voting Stock of the Company).

 

“Consolidated Adjusted EBITDA” means,
with respect to any specified Person for any period (the “Measurement Period”), the Consolidated Net Income of such
Person for such period plus, without duplication and to the extent deducted (and not added back or excluded) in determining such
Consolidated Net Income, the amounts for such period of:

 

(1)            the
Fixed Charges of such Person and its Restricted Subsidiaries for the Measurement Period; plus

 

(2)            the consolidated income tax expense of such Person and its Restricted Subsidiaries for the Measurement Period; plus

 

(3)            the consolidated depreciation expense of such Person and its Restricted Subsidiaries for the Measurement Period; plus

 

(4)            the consolidated amortization expense of such Person and its Restricted Subsidiaries for the Measurement Period; plus

 

(5)            other
non-cash expenses, charges or losses for the Measurement Period (but excluding (A) any non-cash charge, expense or loss in respect
of amortization of a prepaid cash item that was included in Consolidated Net Income in a prior period and (B) any non-cash charge,
expense or loss that relates to the write-down or write-off of inventory or accounts receivable); provided that if any
non-cash charges, expenses or losses referred to in this clause (5) represents an accrual or reserve for potential cash items in any
future period, (x) the Company may elect not to add back such non-cash charge, expense or loss in the current period and (y) to the
extent the Company elects to add back such non-cash charge, expense or loss, the cash payment in respect thereof in such future
period shall be subtracted from Consolidated Adjusted EBITDA in such future period to such extent paid; plus

 

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(6)            any
non-recurring out-of-pocket expenses or charges for the Measurement Period (including, without limitation, any premiums, make-whole or
penalty payments) relating to any offering of Equity Interests by the Company or any Parent Company or merger, recapitalization or acquisition
transactions made by the Company or any of its Restricted Subsidiaries, or any Indebtedness incurred or repaid by the Company or any
of its Restricted Subsidiaries (in each case, whether or not successful); plus

 

(7)            all
fees paid by the Company pursuant to clauses (7) and (11) of Section 4.11(b) of this Indenture; plus

 

(8)            Consolidated Net Income attributable to non-controlling interests of a Restricted Subsidiary (less the amount of any mandatory
cash distribution with respect to any non-controlling interest other than in connection with a proportionate discretionary cash distribution
with respect to the interest held by the Company or any Restricted Subsidiary); plus

 

(9)            any
losses realized upon the disposition of assets outside the ordinary course of business (including any loss realized upon the disposition
of any Equity Interests of any Person) and any losses on disposed, abandoned, and discontinued operations (including in connection with
any disposal thereof) and any accretion or accrual of discounted liabilities; plus

 

(10)          other
cash expenses incurred during such period in connection with Permitted Investments made pursuant to clause (3) of the definition thereof
to the extent that such expenses are reimbursed in cash during such period pursuant to indemnification provisions of any agreement relating
to such transaction; plus

 

(11)          any non-recurring fees, cash charges and other cash expenses incurred in connection with the issuance of Equity Interests
or Indebtedness or the extinguishment of Indebtedness; plus

 

(12)          any
non-cash costs or expenses, incurred pursuant to any management equity plan, stock option plan or any other management or employee benefit
plan or agreement or any stock subscription or shareholder agreement; plus

 

(13)          changes
in earn-out and contingent consideration obligations (including to the extent accounted for as bonuses, compensation or otherwise) and
adjustments thereof and purchase price adjustments, in each case in connection with any acquisitions; plus

 

(14)          costs,
charges, accruals, reserves or expenses attributable to the undertaking and/or implementation of cost savings initiatives and operating
expense reductions, restructuring and similar charges, severance, relocation costs, integration and facilities opening costs and other
business optimization expenses, signing costs, retention or completion bonuses, transition costs, costs related to closure/consolidation
of facilities and curtailments or modifications to pension and post-retirement employee benefit plans (including any settlement of pension
liabilities) in an aggregate amount not to exceed 20% (when taken together with amounts added under clause (15) below) of Consolidated
Adjusted EBITDA in such Measurement Period; plus

 

(15)          pro
forma “run rate” cost savings, operating expense reductions and synergies (including post-acquisition price or administration
fee increases) related to acquisitions, dispositions and other specified transactions (including, for the avoidance of doubt, acquisitions
occurring prior to the Issue Date), restructurings, cost savings initiatives and other initiatives that are reasonably identifiable,
factually supportable and projected by the Company in good faith to result from actions that have been taken or with respect to which
substantial steps have been taken or are expected to be taken (in the good faith determination of the Company) within 18 months after
such acquisition, disposition or other specified transaction, restructuring, cost savings initiative or other initiative in an aggregate
amount not to exceed 20% (when taken together with amounts under clause (14) above) of Consolidated Adjusted EBITDA in such Measurement
Period; plus

 

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(16)          any
loss (after any offset) resulting from currency transaction or translation losses and any losses related to currency remeasurements of
Indebtedness (including intercompany Indebtedness and foreign currency hedges for currency exchange risk); plus

 

(17)          charges,
losses or expenses, to the extent indemnified or insured or reimbursed by a third party to the extent such indemnification, insurance
or reimbursement is received in cash or reasonably be expected to be paid within 365 days after the incurrence of such charge, loss or
expense to the extent not accrued; minus

 

(18)          any gains realized upon the disposition of assets outside the ordinary course of business (including any gain realized upon
the disposition of any Equity Interests of any Person) and any gains on disposed, abandoned, and discontinued operations (including in
connection with any disposal thereof) and any accretion or accrual of discounted liabilities; minus

 

(19)          any
gain (after any offset) resulting from currency transaction or translation gains and any gains related to currency remeasurements of
Indebtedness (including intercompany Indebtedness and foreign currency hedges for currency exchange risk); minus

 

(20)          without
duplication, the consolidated income tax benefit of such Person and its Restricted Subsidiaries for the Measurement Period; minus

 

(21)          without
duplication, other non-cash items (other than the accrual of revenue in accordance with GAAP consistently applied in the ordinary course
of business) increasing Consolidated Net Income for the Measurement Period (excluding any such non-cash item to the extent it represents
the reversal of an accrual or reserve for potential cash item in any prior period); and

 

(22)          without duplication, plus unrealized losses and minus unrealized gains in each case in respect of agreements
governing Hedging Obligations, as determined in accordance with GAAP.

 

“Consolidated Net Income” means,
with respect to any specified Person for any period, the aggregate of the Net Income attributable to such specified Person and its Restricted
Subsidiaries for such period, on a consolidated basis, determined in accordance with GAAP; provided that:

 

(1)            the Net Income (but not loss, to the extent that such loss has been funded with cash by the Company or a Restricted Subsidiary)
of any other Person that is not a Restricted Subsidiary of such specified Person or that is accounted for by the equity method of accounting
will be included only to the extent of the amount of dividends or similar distributions paid in Cash Equivalents (or to the extent subsequently
converted into Cash Equivalents) to the specified Person or a Restricted Subsidiary of the specified Person, in respect of such period;

 

(2)            solely for purposes of Section 4.07(b)(3)(A) of this Indenture, the Net Income of any Restricted Subsidiary of such specified
Person will be excluded to the extent that the declaration or payment of dividends or other distributions by that Restricted Subsidiary
of that Net Income is not at the date of determination permitted without any prior governmental approval (that has not been obtained)
or, directly or indirectly, by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule
or governmental regulation applicable to that Restricted Subsidiary or its stockholders; provided that the Consolidated Net Income
of such Person shall be increased by the amount of dividends or distributions or other payments that are actually paid in cash to (or
to the extent converted into cash by) such Person or a Restricted Subsidiary thereof (subject to provisions of this clause (2)) during
such period, to the extent not previously included therein;

 

(3)            the cumulative effect of a change in accounting principles will be excluded;

 

(4)            any
gains or losses (less all fees, expenses and charges relating thereto) attributable to any sale of assets outside the ordinary
course of business, the disposition of any Equity Interests of any Person or any of its Restricted Subsidiaries, or the
extinguishment of any Indebtedness of such Person or any of its Restricted Subsidiaries, in each case, other than in the ordinary
course of business, will be excluded;

 

    -7-

     

    

 

(5)            any
extraordinary, unusual or non-recurring gain or loss, together with any related provision for taxes on such extraordinary, unusual or
non-recurring gain or loss will be excluded;

 

(6)            income or losses attributable to discontinued operations (including, without limitation, operations disposed during such
period whether or not such operations were classified as discontinued) will be excluded; and

 

(7)            any non-cash charges (i) attributable to applying the purchase method of accounting in accordance with GAAP, (ii) resulting
from the application of Accounting Standards Codification (“ASC”) Topic 350 or ASC Topic 360, and (iii) relating to
the amortization of intangibles resulting from the application of ASC Topic 805, will be excluded.

 

“Corporate Trust Office of the Trustee”
shall be at the address of the Trustee specified in Section 12.02 of this Indenture or such other address as to which the Trustee
may give notice to the Company.

 

“Credit Agreement” means that
certain credit agreement, dated as of January 20, 2021, as amended on April 23, 2021 and August 16, 2021, by and among the Company, the
guarantors party thereto and Regions Bank, as administrative agent, including any related notes, guarantees, collateral documents, instruments
and agreements executed in connection therewith, and, in each case, as amended, restated, modified, renewed, refunded, replaced (whether
upon or after termination or otherwise) or refinanced by any other Indebtedness (including by means of sales of debt securities and including
any amendment, restatement, modification, renewal, refunding, replacement or refinancing that increases the amount borrowed thereunder
or extends the maturity thereof) in whole or in part from time to time.

 

“Debt Facilities” means one
or more debt facilities (including, without limitation, the Credit Agreement) or commercial paper facilities with banks or other institutional
lenders providing for revolving credit loans, term loans, receivables financing (including through the sale of receivables to such lenders
or to special purpose entities formed to borrow from such lenders against such receivables) or letters of credit or issuances of debt
securities evidenced by notes, debentures, bonds or similar instruments, in each case, as amended, restated, modified, renewed, refunded,
replaced or refinanced (including by means of sales of debt securities) in whole or in part from time to time (and whether or not with
the original administrative agent, lenders or trustee or another administrative agent or agents, other lenders or trustee and whether
provided under the original Credit Agreement or any other credit or other agreement or indenture).

 

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

 

“Definitive Note” means a certificated
Initial Note or Additional Note (bearing the Restricted Notes Legend if the transfer of such Note is restricted by applicable law) that
does not include the Global Notes Legend.

 

“Depositary” means,
with respect to the Notes issuable or issued in whole or in part in global form, the Person specified in Section 2.03 of this Indenture
as the Depositary with respect to the Notes, and any and all successors thereto appointed as Depositary hereunder and having become such
pursuant to the applicable provision of this Indenture.

 

“Designated Noncash Consideration”
means any non-cash consideration received by the Company or a Restricted Subsidiary in connection with an Asset Sale that is designated
as Designated Noncash Consideration pursuant to an Officers’ Certificate.

 

    -8-

     

    

 

“Disqualified Stock” means
any Capital Stock that, by its terms (or by the terms of any security into which it is convertible, or for which it is exchangeable,
in each case, at the option of the holder of the Capital Stock), or upon the happening of any event, matures or is mandatorily
redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at the option of the holder of the Capital Stock, in
whole or in part, on or prior to the date that is 90 days after the date on which the Notes mature. Notwithstanding the preceding
sentence, (x) any Capital Stock that would constitute Disqualified Stock solely because the Holders of the Capital Stock have the
right to require the Company or the Subsidiary that issued such Capital Stock to repurchase such Capital Stock upon the occurrence
of a Change of Control or an Asset Sale will not constitute Disqualified Stock if the terms of such Capital Stock provide that the
Company may not repurchase such Capital Stock unless the Company would be permitted to do so in compliance with Section 4.07 of this
Indenture, (y) any Capital Stock that would constitute Disqualified Stock solely as a result of any redemption feature that is
conditioned upon, and subject to, compliance with Section 4.07 of this Indenture shall not constitute Disqualified Stock and (z) any
Capital Stock issued to any plan for the benefit of employees will not constitute Disqualified Stock solely because it may be
required to be repurchased by the Company or the Subsidiary that issued such Capital Stock in order to satisfy applicable statutory
or regulatory obligations. The amount of Disqualified Stock deemed to be outstanding at any time for purposes of this Indenture will
be the maximum amount that the Company and its Restricted Subsidiaries may become obligated to pay upon the maturity of, or pursuant
to any mandatory redemption provisions of, such Disqualified Stock, exclusive of accrued dividends.

 

“Division” means the division
or allocation of the assets, liabilities and/or obligations of a Person (the “Dividing Person”) among two or more Persons
(whether pursuant to a “plan of division” or similar arrangement), which may or may not include the Dividing Person and pursuant
to which the Dividing Person may or may not survive.

 

“Domestic Subsidiary” means
any Restricted Subsidiary that was formed under the laws of the United States or any state of the United States or the District of Columbia.

 

“DTC” means The Depository Trust
Company.

 

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

 

“Equity Offering” means a public
or private offering of Qualified Capital Stock of the Company or any Parent Company the net proceeds of which are contributed to the Company.

 

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

 

“Excluded Contributions” means
net cash proceeds, marketable securities or Qualified Proceeds received by the Company from (i) contributions to its equity capital (other
than Disqualified Stock) or (ii) the sale (other than to a Subsidiary of the Company or to any management equity plan or stock option
plan or any other management or employee benefit plan or agreement of the Company) of Equity Interests (other than Disqualified Stock)
of the Company, in each case designated as Excluded Contributions pursuant to an Officers’ Certificate on the date such capital
contributions are made or the date such Equity Interests are sold, as the case may be, that are excluded from the calculation set forth
in Section 4.07(b)(3) of this Indenture.

 

“Existing Indebtedness” means
Indebtedness (including the Existing Notes), other than Indebtedness under the Credit Agreement, existing on the Issue Date.

 

“Existing Indentures” means
(i) the indenture, dated as of July 29, 2020, among the Company, the Guarantors party thereto and the Trustee and (ii) the indenture,
dated as of January 4, 2021, among the Company, the Guarantors party thereto and the Trustee.

 

“Existing Notes” means the Company’s
(i) 6.125% Senior Notes due 2028 and (ii) 4.625% Senior Notes due 2029 issued under the Existing Indentures, as applicable.

 

“Fair Market Value” means
the value that would be paid by a willing buyer to an unaffiliated willing seller in a transaction not involving distress or
necessity of either party, determined in good faith by the Board of Directors, chief executive officer or chief financial officer of
the Company (unless otherwise provided in this Indenture).

 

    -9-

     

    

 

“Fitch” shall mean Fitch, Inc.,
and its successors.

 

“Fixed Charge Coverage Ratio” means
with respect to any specified Person for any period, the ratio of the Consolidated Adjusted EBITDA of such Person for such period to the
Fixed Charges of such Person for such period. In the event that the specified Person or any of its Restricted Subsidiaries incurs, assumes,
guarantees, repays, repurchases, redeems, defeases or otherwise discharges any Indebtedness (other than ordinary working capital borrowings)
or issues, repurchases or redeems preferred stock or Disqualified Stock subsequent to the commencement of the period for which the Fixed
Charge Coverage Ratio is being calculated and on or prior to the date on which the event for which the calculation of the Fixed Charge
Coverage Ratio is made (the “Calculation Date”), then the Fixed Charge Coverage Ratio will be calculated giving pro
forma effect to such incurrence, assumption, guarantee, repayment, repurchase, redemption, defeasance or other discharge of Indebtedness,
or such issuance, repurchase or redemption of preferred stock or Disqualified Stock, and the use of the proceeds therefrom, as if the
same had occurred at the beginning of the applicable four-quarter reference period.

 

In addition, for purposes of calculating the Fixed
Charge Coverage Ratio:

 

(1)            Investments,
acquisitions, mergers, consolidations and dispositions that have been made by the specified Person or any of its Restricted Subsidiaries,
or any Person or any of its Restricted Subsidiaries acquired by, merged or consolidated with the specified Person or any of its Restricted
Subsidiaries, and including any related financing transactions and including increases in ownership of Restricted Subsidiaries, during
the four-quarter reference period or subsequent to such reference period and on or prior to the Calculation Date will be given pro forma
effect, including giving effect to Pro Forma Cost Savings, as if they had occurred on the first day of the four-quarter reference period;

 

(2)            the Consolidated Adjusted EBITDA attributable to discontinued operations, as determined in accordance with GAAP, and operations
or businesses (and ownership interests therein) disposed of prior to the Calculation Date, will be excluded;

 

(3)            the Fixed Charges attributable to discontinued operations, as determined in accordance with GAAP, and operations or businesses
(and ownership interests therein) disposed of prior to the Calculation Date, will be excluded, but only to the extent that the obligations
giving rise to such Fixed Charges will not be obligations of the specified Person or any of its Restricted Subsidiaries following the
Calculation Date;

 

(4)            any Person that is a Restricted Subsidiary on the Calculation Date will be deemed to have been a Restricted Subsidiary at
all times during such four-quarter period;

 

(5)            any
Person that is not a Restricted Subsidiary on the Calculation Date will be deemed not to have been a Restricted Subsidiary at any time
during such four-quarter period; and

 

(6)            if any Indebtedness bears a floating rate of interest, the interest expense on such Indebtedness will be calculated as if
the rate in effect on the Calculation Date had been the applicable rate for the entire period (taking into account any Hedging Obligation
applicable to such Indebtedness).

 

For purposes of this definition, whenever pro forma effect is
given to a transaction, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer of
the Company. For purposes of determining whether any Indebtedness constituting a guarantee may be incurred, the interest on the
Indebtedness to be guaranteed shall be included in calculating the Fixed Charge Coverage Ratio on a pro forma basis. Interest on a
Capital Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or
accounting officer of the Company to be the rate of interest implicit in such Capital Lease Obligation in accordance with GAAP. For
purposes of making the computation referred to above, interest on any Indebtedness under a revolving credit facility computed on a
pro forma basis shall be computed based upon the average daily balance of such Indebtedness during the applicable period. Interest
on Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency
interbank offered rate, or other rate, shall be deemed to have been based upon the rate actually chosen, or, if none, then based
upon such optional rate chosen as the Company may designate.

 

    -10-

     

    

 

Notwithstanding anything to the contrary herein with respect to any
amounts incurred or transactions entered into (or consummated) in reliance on a provision of this Indenture under a restrictive covenant
that does not require compliance with a financial ratio or test (including, without limitation, any Fixed Charge Coverage Ratio test,
any Secured Net Leverage Ratio test and any Total Net Leverage Ratio test) (any such amounts, the “Fixed Amounts”)
substantially concurrently with any amounts incurred or transactions entered into (or consummated) in reliance on a provision of this
Indenture in the same restrictive covenant that requires compliance with any such financial ratio or test (any such amounts, the “Incurrence
Based Amounts”), it is understood and agreed that the Fixed Amounts (and any cash proceeds thereof) shall be disregarded in
the calculation of the financial ratio or test applicable to the Incurrence Based Amounts in connection with such substantially concurrent
incurrence.

 

“Fixed Charges” means, with
respect to any specified Person for any period, the sum, without duplication, of:

 

(1)            the consolidated interest expense of such Person and its Restricted Subsidiaries for such period, net of interest income,
whether paid or accrued, including, without limitation, original issue discount, non-cash interest payments, the interest component of
any deferred payment obligations, the interest component of all payments associated with Capital Lease Obligations, commissions, discounts
and other fees and charges incurred in respect of letter of credit or bankers’ acceptance financings, and net of the effect of all
cash payments made or received pursuant to Hedging Obligations in respect of interest rates, and excluding amortization of deferred financing
costs; plus

 

(2)            any interest on Indebtedness of another Person that is guaranteed by such Person or one of its Restricted Subsidiaries or
secured by a Lien on assets of such Person or one of its Restricted Subsidiaries, but only to the extent that such guarantee or Lien is
called upon; plus

 

(3)            the
product of (A) all cash dividends paid on any series of preferred stock of such Person or any of its Restricted Subsidiaries (other than
to the Company or a Restricted Subsidiary of the Company), in each case, determined on a consolidated basis in accordance with GAAP multiplied
by (B) a fraction, the numerator of which is one and the denominator of which is one minus the then current combined federal,
state and local statutory tax rate of the Company and its Restricted Subsidiaries expressed as a decimal; plus

 

(4)            any Receivables Fees; plus

 

(5)            the amount of dividends paid by the Company and its Restricted Subsidiaries pursuant to Section 4.07(c)(12) of this Indenture.

 

“Fixed GAAP Date” means the
Issue Date; provided that at any time after the Issue Date, the Company may by written notice to the Trustee elect to change the
Fixed GAAP Date to be the date specified in such notice, and upon such notice, the Fixed GAAP Date shall be such date for all periods
beginning on and after the date specified in such notice.

 

“Fixed GAAP Terms” means (a)
the definitions of the terms “Consolidated Adjusted EBITDA,” “Fixed Charges,” “Fixed Charge Coverage Ratio,”
 “Consolidated Net Income,” “Secured Net Leverage Ratio,” “Total Net Leverage Ratio,” “Indebtedness,”
 “Secured Indebtedness,” and “Total Assets,” (b) all defined terms in this Indenture to the extent used in or relating
to any of the foregoing definitions, and all ratios and computations based on any of the foregoing definitions, and (c) any other term
or provision of this Indenture or the Notes that, at the Company’s election, may be specified by the Company by written notice to
the Trustee from time to time; provided that the Company may elect to remove any term from constituting a Fixed GAAP Term.

 

“Foreign Subsidiary” means any
Restricted Subsidiary that is not a Domestic Subsidiary.

 

    -11-

     

    

 

“GAAP” means generally accepted
accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified
Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other
entity as have been approved by a significant segment of the accounting profession, as in effect on the Fixed GAAP Date (for purposes
of the Fixed GAAP Terms) and as in effect from time to time (for all other purposes of this Indenture); provided, however,
that lease liabilities and associated expenses recorded by the Company and its Subsidiaries pursuant to ASU 2016-02, Leases, shall not
be treated as Indebtedness and shall not be included in consolidated interest expense or Fixed Charges, unless the lease liabilities would
have been treated as Capital Lease Obligations under GAAP as in effect prior to the adoption of ASU 2016-02, Leases (in which case such
lease liabilities and associated expenses shall be treated as Capital Lease Obligations, and the interest component of such Capital Lease
Obligation shall be included in consolidated interest expense and Fixed Charges).

 

“Government Securities” means
direct obligations of, or obligations guaranteed by, the United States of America (including any agency or instrumentality thereof) and
the payment for which the United States pledges its full faith and credit.

 

“Guarantee” means a collective
reference or individual reference to the guarantee by AdaptHealth Intermediate and each Subsidiary Guarantor of the Company’s obligations
under this Indenture and the Notes, executed pursuant to the provisions of this Indenture.

 

“guarantee” means a guarantee
other than by endorsement of negotiable instruments for collection in the ordinary course of business, direct or indirect, in any manner
including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements in respect thereof,
of all or any part of any Indebtedness (whether arising by virtue of partnership arrangements, or by agreements to keep-well, to purchase
assets, goods, securities or services, to take or pay or to maintain financial statement conditions or otherwise).

 

“Guarantor” or “Guarantors”
means the collective reference to AdaptHealth Intermediate and each Restricted Subsidiary of the Company that executes a Guarantee in
accordance with the provisions of this Indenture, and AdaptHealth Intermediate, and their respective successors and assigns, in each case,
until the Guarantee of such Person has been released in accordance with the provisions of this Indenture.

 

“Hedging Obligations” means,
with respect to any specified Person, the obligations of such Person under:

 

(1)            interest rate swap agreements (whether from fixed to floating or from floating to fixed), interest rate cap agreements and
interest rate collar agreements;

 

(2)            other
agreements or arrangements designed to manage interest rates or interest rate risk; and

 

(3)            other
agreements or arrangements designed to protect such Person against fluctuations in currency exchange rates or commodity prices.

 

“Holder” means a Person in whose
name a Note is registered on the Registrar’s books.

 

“Indebtedness” means, with respect
to any specified Person, the principal and premium (if any) of any indebtedness of such Person (excluding accrued expenses and trade payables),
whether or not contingent:

 

(1)            in
respect of borrowed money;

 

(2)            evidenced
by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof) (other than
letters of credit issued in respect of trade payables);

 

(3)            in respect of banker’s acceptances;

 

(4)            representing Capital Lease Obligations;

 

    -12-

     

    

 

(5)            representing
the balance deferred and unpaid of the purchase price of any property or services due more than twelve months after such property is
acquired or such services are completed (except any such balance that constitutes a trade payable or similar obligation to a trade creditor);
or

 

(6)            representing the net obligations under any Hedging Obligations, if and to the extent any of the preceding items (other than
letters of credit, and Hedging Obligations) would appear as a liability upon a balance sheet of the specified Person prepared in accordance
with GAAP. In addition, the term “Indebtedness” includes all Indebtedness of others secured by a Lien on any asset of the
specified Person (whether or not such Indebtedness is assumed by the specified Person) and, to the extent not otherwise included, the
guarantee by the specified Person of any Indebtedness of any other Person.

 

“Indenture” means this Indenture,
as amended or supplemented from time to time. 

 

“Independent Assets or Operations”
means, with respect to any Parent Company, each of that Parent Company’s total assets, revenues, income from continuing operations
before income taxes and cash flows from operating activities (excluding in each case amounts related to its investment in the Company
and the Restricted Subsidiaries), determined in accordance with GAAP and as shown on the most recent financial statements of such Parent
Company, is, in each case, more than 2.0% of such Parent Company’s corresponding consolidated amount.

 

“Initial Notes” has the meaning
set forth in the recitals hereto.

 

“Interest Payment Date” means
March 1 and September 1 of each year to stated maturity of the Notes.

 

“Investment Grade Rating” means
a rating equal to or higher than:

 

(1)      Baa3 (or the equivalent) by Moody’s;

 

(2)      BBB-
(or the equivalent) by S&P; or

 

(3)      BBB-
(or the equivalent) by Fitch,

 

or, if either such entity ceases to rate the Notes
for reasons outside of the Company’s control, the equivalent investment grade credit rating from any other Rating Agency.

 

“Investment Grade Rating Event”
means the first day on which (a) the Notes have an Investment Grade Rating from two Rating Agencies, (b) no Default with respect to the
Notes has occurred and is then continuing under this Indenture and (c) the Company has delivered to the Trustee an Officers’ Certificate
certifying as to the satisfaction of the conditions set forth in clauses (a) and (b) of this definition.

 

“Investments” means, with respect
to any Person, all direct or indirect investments by such Person in other Persons (including Affiliates) in the forms of loans (including
guarantees or other obligations), advances or capital contributions (excluding commission, travel, relocation and similar advances to
officers and employees made in the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity
Interests or other securities of other Persons, together with all items that are or would be classified as investments on a balance sheet
prepared in accordance with GAAP. If the Company or any Restricted Subsidiary of the Company sells or otherwise disposes of any Equity
Interests of any direct or indirect Restricted Subsidiary of the Company such that, after giving effect to any such sale or disposition,
such Person is no longer a Subsidiary of the Company, the Company will be deemed to have made an Investment on the date of any such sale
or disposition equal to the Fair Market Value of the Company’s Investments in such Subsidiary that were not sold or disposed of
in an amount determined as provided in Section 4.07(d) of this Indenture. The acquisition by the Company or any Restricted Subsidiary
of the Company of a Person that holds an Investment in a third Person will be deemed to be an Investment by the Company or such Restricted
Subsidiary in such third Person in an amount equal to the Fair Market Value of the Investments held by the acquired Person in such third
Person in an amount determined as provided in Section 4.07(d) of this Indenture.

 

    -13-

     

    

 

“Issue Date” means August 19,
2021.

 

“Lien” means, with respect to
any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such asset, whether or not filed,
recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any lease in
the nature thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing
statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction.

 

“Limited Condition Transaction”
means (i) any acquisition by one or more of the Company or its Restricted Subsidiaries of any assets, business or Person whose consummation
is not conditioned on the availability of, or on obtaining, third party financing, (ii) any Permitted Investment whose consummation is
not conditioned on the availability of, or on obtaining, third party financing and (iii) any redemption, repurchase, defeasance, satisfaction
and discharge or repayment of Indebtedness requiring irrevocable notice in advance of such redemption, repurchase, defeasance, satisfaction
and discharge or repayment.

 

“Managing Member” means (a)
AdaptHealth Holdings LLC (“AdaptHealth Holdings”), for so long as it is the managing member of the Company, or (b)
or any successor Person that becomes the managing member of the Company pursuant to the limited liability company agreement of the Company,
for so long as such Person is the managing member of the Company.

 

“Moody’s” means Moody’s
Investors Service, Inc., and its successors.

 

“Net Income” means, with respect
to any specified Person, the net income (loss) of such Person, determined in accordance with GAAP and before any reduction in respect
of preferred stock dividends.

 

“Net Proceeds” means the aggregate
cash proceeds received by the Company or any of its Restricted Subsidiaries in respect of any Asset Sale (including, without limitation,
any cash received upon the sale or other disposition of any non-cash consideration received in any Asset Sale), net of the direct costs
relating to such Asset Sale, including, without limitation, legal, accounting and investment banking fees, payments made in order to obtain
a necessary consent or required by applicable law, and sales commissions, and any relocation expenses incurred as a result of the Asset
Sale, taxes paid or payable as a result of the Asset Sale, including taxes resulting from the transfer of the proceeds of such Asset Sale
to the Company, in each case, after taking into account:

 

(1)            any available tax credits or deductions and any tax sharing arrangements;

 

(2)            amounts required to be applied to the repayment of Indebtedness secured by a Lien on the asset or assets that were the subject
of such Asset Sale;

 

(3)            any
reserve for adjustment in respect of the sale price of such asset or assets established in accordance with GAAP;

 

(4)            any
reserve for adjustment in respect of any liabilities associated with the asset disposed of in such transaction and retained by the Company
or any Restricted Subsidiary after such sale or other disposition thereof;

 

(5)            any
distributions and other payments required to be made to minority interest holders in Subsidiaries or joint ventures as a result of such
Asset Sale; and

 

(6)            in the event that a Restricted Subsidiary consummates an Asset Sale and makes a pro rata payment of dividends to all of
its stockholders from any cash proceeds of such Asset Sale, the amount of dividends paid to any stockholder other than the Company or
any other Restricted Subsidiary; provided that any net proceeds of an Asset Sale by a Non-Guarantor Subsidiary that are subject
to restrictions on repatriation to the Company will not be considered Net Proceeds for so long as such proceeds are subject to such restrictions.

 

    -14-

     

    

 

“Non-Guarantor Subsidiaries” means
(x) any Unrestricted Subsidiary, (y) any Receivables Subsidiary and (z) any Subsidiary of the Company that does not guarantee the Company’s
Obligations under the Credit Agreement and does not guarantee any Indebtedness of the Company or a Subsidiary Guarantor of $25.0 million
or more. The Board of Directors of the Company may designate any Restricted Subsidiary as a Non-Guarantor Subsidiary by filing with the
Trustee a certified copy of a resolution of such Board of Directors giving effect to such designation and an Officers’ Certificate
certifying as to the applicable clause of the definition of Non-Guarantor Subsidiaries that warrants such designation.

 

“Notes” means any Notes authenticated
and delivered under this Indenture, including the Initial Notes, any Additional Notes that may be issued under a supplemental indenture
and Notes to be issued or authenticated upon transfer, replacement or exchange of Notes.

 

“Obligations” means any principal,
interest (including any interest accruing subsequent to the filing of a petition in bankruptcy, reorganization or similar proceeding at
the rate provided for in the documentation with respect thereto, whether or not such interest is an allowed claim under applicable state,
federal or foreign law), other monetary obligations, penalties, fees, indemnifications, reimbursements (including reimbursement obligations
with respect to letters of credit and banker’s acceptances), damages and other liabilities, and guarantees of payment of such principal,
interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities, payable under the documentation governing
any Indebtedness.

 

“Offering Memorandum” means
the offering memorandum, dated August 12, 2021, relating to the sale of the Initial Notes.

 

“Officer” means the Chairman
of the Board, Chief Executive Officer, Chief Financial Officer, President, any Executive Vice President, Senior Vice President or Vice
President, the Treasurer or the Secretary of the Company. “Officer” of any Parent Company or any Guarantor has a correlative
meaning.

 

“Officers’ Certificate” means
a certificate signed on behalf of the Company by two or more Officers of the Company, who must be the principal executive officer, the
principal financial officer, the treasurer or the principal accounting officer of the Company that meets the requirements set forth in
this Indenture.

 

“Opinion of Counsel” mean a
written opinion from legal counsel who is reasonably acceptable to the Trustee. The counsel may be an employee of or counsel to the Company
or the Trustee.

 

“Parent” means AdaptHealth Corp,
a Delaware corporation, the indirect parent of the Company and the Guarantors, and not any of its subsidiaries.

 

“Parent Company” means any Person
that is or becomes after the Issue Date a direct or indirect parent (which may be organized as, among other things, a partnership) of
the Company.

 

“Permitted Business” means (i)
any business engaged in by the Company or any of its Restricted Subsidiaries on the Issue Date, and (ii) any healthcare business or other
activities that are reasonably similar, ancillary, complementary or related to, or a reasonable extension, development or expansion of,
the businesses in which the Company and its Restricted Subsidiaries were engaged on the Issue Date.

 

“Permitted Holders” means any
of Deerfield Partners, L.P, OEP AHCO Investment Holdings, LLC, Quadrant Management, Inc., Everest Trust, Still Water Nevada Trusts, Peloton
Equity GP, LLC, SkyKnight Aero Holdings, LLC and Stephen P. Griggs and any of their respective Affiliates and funds or partnerships managed
or advised by any of them or any of their respective Affiliates, but not including, however, any portfolio company of any of the foregoing,
and any group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act or any successor provision) of which any
of the Persons described above are members; provided that, in the case of such group and without giving effect to the existence
of such group or any other group, the Persons described above are beneficial owners of at least 50.0% of the total voting power of the
Voting Stock of the Company or any Parent Company held by such group.

 

    -15-

     

    

 

 

“Permitted Investments” means:

 

(1)         
any Investment in the Company or in a Restricted Subsidiary of the Company;

 

(2)         
any Investment in Cash Equivalents;

 

(3)         
any Investment by the Company or any Restricted Subsidiary of the Company in a Person, if as a result of such Investment:

 

(a)         
such Person becomes a Restricted Subsidiary of the Company (including by means of a Division); or

 

(b)         
such Person, in one transaction or a series of transactions, is merged, consolidated or amalgamated with or into, or transfers
or conveys substantially all of its assets or assets constituting a business unit, a division or line of business of such Person or a
facility of such Person to, or is liquidated into, the Company or a Restricted Subsidiary of the Company;

 

(4)         
any Investment made as a result of the receipt of non-cash consideration from an Asset Sale that was made pursuant to and
in compliance with Section 4.10 of this Indenture;

 

(5)         
any Investment solely in exchange for the issuance of Equity Interests (other than Disqualified Stock) of the Company or
any Parent Company;

 

(6)         
any Investments received in compromise, settlement or resolution of (A) obligations of trade debtors or customers that were
incurred in the ordinary course of business of the Company or any of its Restricted Subsidiaries, including pursuant to any plan of reorganization
or similar arrangement upon the bankruptcy or insolvency of any trade debtor or customer, (B) litigation, arbitration or other disputes
with Persons who are not Affiliates or (C) as a result of a foreclosure by the Company or any Restricted Subsidiary with respect to any
secured Investment or other transfer of title with respect to any secured Investment in default;

 

(7)         
Investments represented by Hedging Obligations entered into to protect against fluctuations in interest rates, exchange
rates and commodity prices;

 

(8)         
any Investment in payroll, travel and similar advances to cover matters that are expected at the time of such advances ultimately
to be treated as expenses for accounting purposes and that are made in the ordinary course of business;

 

(9)         
Investments in receivables or other trade payables owing to the Company or any Restricted Subsidiary if created or acquired
in the ordinary course of business and payable or dischargeable in accordance with customary trade terms; provided, however, that
such trade terms may include such concessionary trade terms as the Company or any such Restricted Subsidiary deems reasonable under the
circumstances;

 

(10)       
Investments in (x) prepaid expenses and negotiable instruments held for collection and (y) lease, utility and workers compensation,
unemployment insurance, other social security benefits or other insurance-related obligations (including, but not limited to, in respect
of deductibles, self-insured retention amounts and premiums and adjustments thereto), performance, progress, and similar deposits entered
into as a result of the operations of the business in the ordinary course of business;

 

(11)       
obligations of one or more officers or other employees of the Company or any of its Restricted Subsidiaries in connection
with such officer’s or employee’s acquisition of shares of Capital Stock of the Company or Capital Stock of any Parent Company
so long as no cash or other assets are paid by the Company or any of its Restricted Subsidiaries to such officers or employees in connection
with the acquisition of any such obligations;

 

    -16-

     

    

 

(12)        loans or advances to and guarantees provided for the benefit of employees and other individual service providers in each
case made in the ordinary course of business (including travel, entertainment and relocation expenses) of the Company or any of its Restricted
Subsidiaries in an aggregate principal amount not to exceed $5.0 million at any one time outstanding;

 

(13)        Investments
existing as on the Issue Date or an Investment consisting of any extension, modification or renewal of any Investment existing as of
the Issue Date (excluding any such extension, modification or renewal involving additional advances, contributions or other investments
of cash or property or other increases thereof unless it is a result of the accrual or accretion of interest or original issue discount
or payment-in-kind pursuant to the terms, as of the Issue Date, of the original Investment so extended, modified or renewed);

 

(14)       
repurchases of the Notes;

 

(15)       
other Investments in any Person having an aggregate Fair Market Value (measured on the date each such Investment was made
and without giving effect to subsequent changes in value), when taken together with all other Investments made pursuant to this clause
(15) that are at the time outstanding not to exceed the greater of (a) $100.0 million and (b) 9.0% of Total Assets outstanding at any
time; provided, however, that if any Investment pursuant to this clause (15) is made in any Person that is not a Restricted Subsidiary
of the Company at the date of the making of such Investment and such Person becomes a Restricted Subsidiary of the Company after such
date, such Investment shall thereafter be deemed to have been made pursuant to clause (1) above and shall cease to have been made pursuant
to this clause (15) for so long as such Person continues to be a Restricted Subsidiary (it being understood that if such Person thereafter
ceases to be a Restricted Subsidiary of the Company, such Investment will again be deemed to have been made pursuant to this clause (15));

 

(16)       
the acquisition by a Receivables Subsidiary in connection with a Qualified Receivables Transaction of Equity Interests of
a trust or other Person established by such Receivables Subsidiary to effect such Qualified Receivables Transaction; and any other Investment
by the Company or a Subsidiary of the Company in a Receivables Subsidiary or any Investment by a Receivables Subsidiary in any other Person
in connection with a Qualified Receivables Transaction customary for such transactions;

 

(17)        Investments, loans and advances to any Captive Insurance Subsidiary in an amount equal to (i) the capital required under
the applicable laws or regulations of the jurisdiction in which such Captive Insurance Subsidiary is formed or determined by independent
actuaries as prudent and necessary capital to operate such Captive Insurance Subsidiary plus (ii) any reasonable general corporate
and overhead expenses of such Captive Insurance Subsidiary;

 

(18)       
guarantees of Indebtedness of the Company or a Restricted Subsidiary permitted under Section 4.09 of this Indenture and
performance guarantees in the ordinary course of business;

 

(19)        Investments
in an Unrestricted Subsidiary in an aggregate amount, taken together with all other Investments made pursuant to this clause (19) that
are at that time outstanding not to exceed the greater of (a) $30.0 million and (b) 2.5% of Total Assets (with the Fair Market Value
of each Investment being measured at the time made and without giving effect to subsequent changes in value); and

 

(20)        additional
Investments; provided that (x) no Default or Event of Default has occurred and is continuing or would result therefrom and (y)
immediately after giving effect to such Investment on a pro forma basis, the Total Net Leverage Ratio does not exceed 3.00 to 1.00.

 

“Permitted Liens” means:

 

(1)          Liens
on assets of the Company or any of its Restricted Subsidiaries securing Indebtedness in an amount not to exceed the maximum amount of
Indebtedness permitted by Section 4.09(b)(1) of this Indenture;

 

    -17-

     

    

 

(2)          Liens
in favor of the Company or the Guarantors;

 

(3)          Liens
on property or assets of a Person existing at the time such Person is merged with or into, consolidated with or acquired by the Company
or any Restricted Subsidiary of the Company; provided that such Liens were in existence prior to the contemplation of such merger,
consolidation or acquisition and do not extend to any assets other than those of the Person merged into, consolidated with or acquired
by the Company or such Restricted Subsidiary;

 

(4)          Liens
on property (including Capital Stock) existing at the time of acquisition of the property by the Company or any Restricted Subsidiary
of the Company; provided that such Liens were in existence prior to such acquisition and not incurred in contemplation of such
acquisition;

 

(5)          Liens
(including deposits and pledges) to secure the performance of public or statutory obligations, progress payments, surety or appeal bonds,
performance bonds or other obligations of a like nature incurred in the ordinary course of business;

 

(6)          Liens
to secure Indebtedness (including Capital Lease Obligations) permitted by Section 4.09(b)(4) of this Indenture and any Permitted Refinancing
Indebtedness in respect thereof, in each case, covering only the assets acquired, constructed or improved with, financed or re-financed
by such Indebtedness;

 

(7)          Liens
existing on the Issue Date (other than Liens described in clause (1) above), plus renewals and extensions of such Liens;

 

(8)          Liens
for taxes, assessments or governmental charges or claims that are not yet delinquent or that are being contested in good faith by appropriate
proceedings promptly instituted and diligently concluded; provided that any reserve or other appropriate provision as is required
in conformity with GAAP has been made therefor;

 

(9)          Liens
imposed by law, such as carriers’, warehousemen’s, landlord’s, materialmen’s, laborers’, employees’,
suppliers’ and mechanics’ Liens, in each case, incurred in the ordinary course of business;

 

(10)        survey
exceptions, title defects, encumbrances, easements or reservations of, or rights of others for, licenses, rights-of-way, sewers, electric
lines, telegraph and telephone lines and other similar purposes, or zoning or other restrictions as to the use of real property that
do not materially interfere with the ordinary conduct of the business of the Company and its Restricted Subsidiaries, taken as a whole;

 

(11)        Liens
created for the benefit of (or to secure) the Notes (or the Subsidiary Guarantees);

 

(12)        Liens
to secure any Permitted Refinancing Indebtedness in respect of Indebtedness secured by Liens permitted by clause (3), (4), (7) or (12)
of this definition; provided, however, that:

 

(a)          the
new Lien shall be limited to all or part of the same property and assets that secured or, under the written agreements pursuant to which
the original Lien arose, could secure the original Indebtedness (plus improvements and accessions to, such property or proceeds
or distributions thereof); and

 

(b)          the
Indebtedness secured by the new Lien is not increased to any amount greater than the sum of (x) the outstanding principal amount, or,
if greater, committed amount, of the Permitted Refinancing Indebtedness and (y) an amount necessary to pay any fees and expenses, including
premiums, related to such renewal, refunding, refinancing, replacement, defeasance or discharge;

 

(13)            
other Liens with respect to obligations that do not exceed the greater of (a) $90.0 million and (b) 7.5% of Total Assets
at any one time outstanding;

 

    -18-

     

    

 

(14)        Liens
incurred in connection with a Qualified Receivables Transaction (which, in the case of the Company and its Restricted Subsidiaries (other
than Receivables Subsidiaries) shall be limited to receivables and related assets referred to in the definition of Qualified Receivables
Transaction);

 

(15)        security
for the payment of workers’ compensation, unemployment insurance, other social security benefits or other insurance-related obligations
(including, but not limited to, in respect of deductibles, self-insured retention amounts and premiums and adjustments thereto) entered
into in the ordinary course of business;

 

(16)        deposits
or pledges in connection with bids, tenders, leases and contracts (other than contracts for the payment of money) entered into in the
ordinary course of business;

 

(17)        zoning
restrictions, easements, licenses, reservations, provisions, encroachments, encumbrances, protrusion permits, servitudes, covenants,
conditions, waivers, restrictions on the use of property or minor irregularities of title (and with respect to leasehold interests, mortgages,
obligations, liens and other encumbrances incurred, created, assumed or permitted to exist and arising by, through or under a landlord
or owner of the leased property, with or without consent of the lessee), in each case, not materially interfering with the ordinary conduct
of the business of the Company and its Restricted Subsidiaries, taken as a whole;

 

(18)        leases,
subleases, licenses or sublicenses to third parties not interfering in any material respect with the business of the Company or any Restricted
Subsidiary;

 

(19)        Liens
securing Hedging Obligations incurred pursuant to Section 4.09(b)(8) of this Indenture;

 

(20)        Liens
arising out of judgments, decrees, orders or awards in respect of which the Company shall in good faith be prosecuting an appeal or proceedings
for review which appeal or proceedings shall not have been finally terminated, or if the period within which such appeal or proceedings
may be initiated shall not have expired;

 

(21)        Liens on the Equity Interests of an Unrestricted Subsidiary that secure Indebtedness or other obligation of such Unrestricted
Subsidiary;

 

(22)        Liens
on the assets of Non-Guarantor Subsidiaries securing Indebtedness incurred pursuant to Section 4.09(b)(13) of this Indenture;

 

(23)        Liens
arising from filing Uniform Commercial Code financing statements regarding leases or precautionary Uniform Commercial Code financings
statements or similar filings;

 

(24)        Liens
(i) of a collection bank arising under Section 4-210 of the Uniform Commercial Code on items in the course of collection and (ii) in
favor of banking institution encumbering deposits (including the right of set-off) and which are within the general parameters customary
in the banking industry;

 

(25)        Liens
encumbering reasonable customary initial deposits and margin deposits and similar Liens attaching to brokerage accounts incurred in the
ordinary course of business and not for speculative purposes;

 

(26)        Liens
arising out of permitted sale and leaseback transactions;

 

(27)        Liens
created or deemed to exist by the establishment of trusts for the purpose of satisfying government reimbursement program costs and other
actions or claims pertaining to the same or related matters or other medical reimbursement programs;

 

    -19-

     

    

 

(28)        Liens
solely on any cash earnest money deposits made by the Company or any Restricted Subsidiary with any letter of intent or purchase agreement
permitted by the terms of this Indenture; and

 

(29)        Liens
deemed to exist by reason of (x) any encumbrance or restriction (including put and call arrangements) with respect to the Equity Interests
of any joint venture or similar arrangement pursuant to any joint venture or similar agreement or (y) any encumbrance or restriction
imposed under any contract for the sale by the Company or any of its Restricted Subsidiaries of the Equity Interests of any Restricted
Subsidiary, or any business unit or division of the business or any Restricted Subsidiary permitted by the terms of this Indenture; provided
that in each case such Liens shall extend only to the relevant Equity Interests.

 

“Permitted Parent” means any
Parent Company that beneficially owns, together with any other Permitted Parent, 100% of the Capital Stock of the Company; provided
that the ultimate beneficial ownership of the Company has not been modified, solely by virtue of the transaction by which such Parent
Company became the beneficial owner of 100% of the Capital Stock of the Company and such Parent Company owns no assets other than Cash
Equivalents and the Capital Stock of the Company or any other Permitted Parent.

 

“Permitted Payments to Parent”
means:

 

(1)          payments, directly or indirectly, to any Parent Company in an amount necessary to allow any Parent Company to pay the taxes
directly attributable to (or arising out of) the taxable income of the Company and/or its Subsidiaries; provided that (A) the amount
of any such payments pursuant to this clause (1) shall not exceed the amount of such taxes that the Company and/or its Subsidiaries, as
applicable, would have paid had the Company and/or its Subsidiaries, as applicable, been a stand-alone corporate taxpayer (or a stand-alone
corporate group) and (B) all payments made to any Parent Company pursuant to this clause (1) in respect of an Unrestricted Subsidiary
shall be permitted only to the extent that cash distributions were, or will be within 60 days of such payment, made by such Unrestricted
Subsidiary to the Company or any of its Restricted Subsidiaries for such purpose;

 

(2)          payments,
directly or indirectly, to any Parent Company if the proceeds thereof are used to pay franchise taxes and other fees required to maintain
the corporate existence of such Parent Company, general corporate and overhead expenses (including salaries and other compensation of
employees) incurred in the ordinary course of the business of such Parent Company or used to pay fees and expenses (other than to Affiliates)
relating to any unsuccessful debt or equity financing or other financing transaction or acquisition, disposition, other investment or
similar transaction; and

 

(3)          any
payments or disbursements to or on behalf of any Parent Company in satisfaction of obligations due from such Parent Company under the
Tax Receivable Agreement.

 

“Permitted Refinancing Indebtedness”
means any Indebtedness of the Company or any of its Restricted Subsidiaries issued in exchange for, or the net proceeds of which are
used to extend, renew, refund, refinance, replace, defease or discharge other Indebtedness of the Company or any of its Restricted Subsidiaries
(other than intercompany Indebtedness); provided that:

 

(1)          the
principal amount (or accreted value, if applicable) of such Permitted Refinancing Indebtedness does not exceed the principal amount (or
accreted value, if applicable) of the Indebtedness extended, renewed, refunded, refinanced, replaced, defeased or discharged (plus
all accrued interest on the Indebtedness and the amount of all fees, commissions, discounts and expenses, including premiums, incurred
in connection therewith);

 

(2)          either
(a) such Permitted Refinancing Indebtedness has a final maturity date later than the final maturity date of, and has a Weighted Average
Life to Maturity equal to or greater than the Weighted Average Life to Maturity of, the Indebtedness being extended, renewed, refunded,
refinanced, replaced, defeased or discharged or (b) all scheduled payments on or in respect of such Permitted Refinancing Indebtedness
(other than interest payments) shall be at least 91 days following the final scheduled maturity of the Notes;

 

    -20-

     

    

 

(3)          if
the Indebtedness being extended, renewed, refunded, refinanced, replaced, defeased or discharged is subordinated in right of payment
to the Notes, such Permitted Refinancing Indebtedness is subordinated in right of payment to the Notes on terms at least as favorable
to the Holders as those contained in the documentation governing the Indebtedness being extended, renewed, refunded, refinanced, replaced,
defeased or discharged; and

 

(4)          such
Indebtedness is incurred:

 

(a)          by
the Company or by the Restricted Subsidiary who is the obligor on the Indebtedness being renewed, refunded, refinanced, replaced, defeased
or discharged;

 

(b)         by
any Guarantor if the obligor on the Indebtedness being renewed, refunded, refinanced, replaced, defeased or discharged is a Guarantor;
or

 

(c)          by
any Non-Guarantor Subsidiary if the obligor on the Indebtedness being renewed, refunded, refinanced, replaced, defeased or discharged
is a Non-Guarantor Subsidiary.

 

“Person” means any individual,
corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization, limited liability company
or government or other entity.

 

“Pro Forma Cost Savings” means,
with respect to any period, cost savings, operating expense reductions and synergies that are reasonably identifiable and projected by
the Company in good faith to result from actions that have been taken or with respect to which substantial steps have been taken or are
expected to be taken (in the good faith determination of the Company) within 18 months after the relevant investment, acquisition, consolidation,
disposition, restructuring or cost savings initiative, as if all such cost savings, operating expense reductions and synergies in costs
had been effected as of the beginning of such period.

 

“Qualified Capital Stock” means
any Capital Stock that is not Disqualified Stock.

 

“Qualified Proceeds” means any
of the following or any combination of the following:

 

(1)          Cash
Equivalents;

 

(2)          the
Fair Market Value of assets that are used or useful in the Permitted Business; and

 

(3)          the
Fair Market Value of the Capital Stock of any Person engaged primarily in a Permitted Business if, in connection with the receipt by
the Company or any of its Restricted Subsidiaries of such Capital Stock, such Person becomes a Restricted Subsidiary or such Person is
merged or consolidated into the Company or any Restricted Subsidiary;

 

provided that for purposes of Section 4.07(b)(3) of this Indenture,
Qualified Proceeds shall not include Excluded Contributions.

 

“Qualified Receivables Transaction”
means any transaction or series of transactions entered into by the Company or any of its Subsidiaries pursuant to which the Company
or any of its Subsidiaries sells, conveys or otherwise transfers, or grants a security interest, to:

 

(1)          a
Receivables Subsidiary (in the case of a transfer by the Company or any of its Subsidiaries, which transfer may be effected through the
Company or one or more of its Subsidiaries); and

 

(2)          if
applicable, any other Person (in the case of a transfer by a Receivables Subsidiary),

 

in each case, in any accounts receivable (including health care insurance
receivables), instruments, chattel paper, general intangibles and similar assets (whether existing as of the Issue Date or arising thereafter,
the “Receivables”) of the Company or any of its Subsidiaries, and any assets related thereto, including, without limitation,
all collateral securing such Receivables, all contracts, contract rights and all guarantees or other obligations in respect of such Receivables,
proceeds of such Receivables and any other assets, which are customarily transferred or in respect of which security interests are customarily
granted in connection with receivables financings and asset securitization transactions of such type, together with any related transactions
customarily entered into in a receivables financings and asset securitizations, including servicing arrangements.

 

    -21-

     

    

 

“Rating Agency” means each of
S&P, Moody’s or Fitch, or if (and only if) S&P, Moody’s, Fitch or any combination thereof shall not make a rating
on the Notes publicly available, a nationally recognized statistical rating organization or organizations, as the case may be, selected
by the Company, which shall be substituted for S&P, Moody’s or Fitch, or any combination thereof, as the case may be.

 

“Receivables Fees” means distributions
or payments made directly or by means of discounts with respect to any participation interest issued or sold in connection with, and other
fees paid to a Person that is not a Restricted Subsidiary in connection with, any Qualified Receivables Transaction.

 

“Receivables Subsidiary” means
a Subsidiary of the Company which engages in no activities other than in connection with the financing of accounts receivable and in businesses
related or ancillary thereto and that is designated by the Board of Directors of the Company (as provided below) as a Receivables Subsidiary,

 

(1)          no
portion of the Indebtedness or any other Obligations (contingent or otherwise) of which:

 

(a)          is
guaranteed by the Company or any Subsidiary of the Company (excluding guarantees (other than in respect of the principal of, and interest
on, Indebtedness) pursuant to representations, warranties, covenants and indemnities entered into in the ordinary course of business
in connection with a Qualified Receivables Transaction);

 

(b)          is recourse to or obligates the Company or any Subsidiary of the Company in any way other than pursuant to representations,
warranties, covenants and indemnities customarily entered into in connection with a Qualified Receivables Transaction; or

 

(c)          subjects
any property or asset of the Company or any Subsidiary of the Company (other than accounts receivable and related assets as provided
in the definition of Qualified Receivables Transaction), directly or indirectly, contingently or otherwise, to the satisfaction thereof,
other than pursuant to representations, warranties, covenants and indemnities customarily entered into in connection with a Qualified
Receivables Transaction;

 

(2)          with
which neither the Company nor any Subsidiary of the Company has any material contract, agreement, arrangement or understanding other
than on terms no less favorable to the Company or such Subsidiary than those that might be obtained at the time from Persons who are
not Affiliates of the Company, other than as may be customary in a Qualified Receivables Transaction including for fees payable in the
ordinary course of business in connection with servicing accounts receivable; and

 

(3)          with
which neither the Company nor any Subsidiary of the Company has any obligation to maintain or preserve such Subsidiary’s financial
condition or cause such Subsidiary to achieve certain levels of operating results. Any such designation by the Board of Directors of
the Company will be evidenced to the Trustee by filing with the Trustee a certified copy of the resolution of the Board of Directors
of the Company giving effect to such designation and an Officers’ Certificate certifying that such designation complied with the
foregoing conditions.

 

“Record Date” for the interest
payable on any applicable Interest Payment Date means February 15 or August 15 (whether or not a Business Day) immediately preceding such
Interest Payment Date.

 

“Replacement Preferred Stock” means
any Disqualified Stock of the Company or any of its Restricted Subsidiaries issued in exchange for, or the net proceeds of which are
used to renew, refund, refinance, replace or discharge any Disqualified Stock of the Company or any of its Restricted Subsidiaries (other
than intercompany Disqualified Stock); provided that such Replacement Preferred Stock (i) is issued by the Company or by the Restricted
Subsidiary who is the Company of the Disqualified Stock being redeemed, refunded, refinanced, replaced or discharged, and (ii) does not
have an initial liquidation preference in excess of the liquidation preference plus accrued and unpaid dividends on the Disqualified
Stock being redeemed, refunded, refinanced, replaced or discharged.

 

    -22-

     

    

 

“Responsible Officer,” when
used with respect to the Trustee, means any officer within the Corporate Trust Office of the Trustee (or any successor group of the Trustee)
or any other officer of the Trustee customarily performing functions similar to those performed by such officers and also means, with
respect to a particular corporate trust matter, any other officer of employee to whom such matter is referred because of his or her knowledge
of and familiarity with the particular subject and who shall have direct responsibility for the administration of this Indenture.

 

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

 

“Restricted Subsidiary” of a
Person means any Subsidiary of the referent Person that is not an Unrestricted Subsidiary. For the avoidance of doubt, unless specified
otherwise, references to “Restricted Subsidiaries” shall be Restricted Subsidiaries of the Company.

 

“S&P” means S&P Global
Ratings, a business unit of S&P Global Inc., and any successor to its rating agency business.

 

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

 

“Secured Indebtedness” at any
date shall mean the aggregate principal amount of Indebtedness outstanding at such date described in clause (a) of the definition of “Total
Net Leverage Ratio” that in each case is then secured by Liens on any property or assets of the Company or any Restricted Subsidiary;
provided that the Company may elect to treat Indebtedness under revolving credit commitments as having been incurred at the time
the related revolving credit commitment is established, in which case, Secured Indebtedness shall have been deemed to have been incurred
at the time such commitment is provided (and shall thereafter be deemed to be outstanding in the amount of such commitment until such
commitment is terminated) but not at the time of any drawing thereunder (or replacement thereof to the extent such replacement or refinancing
does not increase the amount of such commitment).

 

“Secured Net Leverage Ratio” shall
mean, on any date, the ratio of (a) Secured Indebtedness (minus the amount of unrestricted cash and Cash Equivalents held, on such
date, by the Company and the Restricted Subsidiaries on such date (the aggregate amount of such deduction shall not exceed $75.0 million))
on such date to (b) Consolidated Adjusted EBITDA for the most recent period of four consecutive fiscal quarters of the Company ended prior
to such date for which internal financial statements are available, in the case of this clause (b), with such adjustments to Consolidated
Adjusted EBITDA for such period as are consistent with those set forth in the definition of Fixed Charge Coverage Ratio.

 

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

 

“Significant Subsidiary” means
any Subsidiary that would be a “significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated
pursuant to the Securities Act, as such Regulation is in effect on the Issue Date. For purposes of determining whether an Event of Default
has occurred, if any group of Restricted Subsidiaries as to which a particular event has occurred and is continuing at any time would
be, taken as a whole, a “Significant Subsidiary” then such event shall be deemed to have occurred with respect to a Significant
Subsidiary.

 

“Stated Maturity” means, with
respect to any installment of interest or principal on any series of Indebtedness, the date on which the payment of interest or principal
was scheduled to be paid in the documentation governing such Indebtedness as of the Issue Date (or, if later, the date such Indebtedness
was originally incurred), and will not include any contingent obligations to repay, redeem or repurchase any such interest or principal
prior to the date originally scheduled for the payment thereof.

 

    -23-

     

    

 

“Subsidiary” means, with respect
to any specified Person:

 

(1)          any
corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital Stock entitled
(without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’ agreement
that effectively transfers voting power) to vote in the election of directors, managers or trustees of the corporation, association or
other business entity is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries
of that Person (or a combination thereof); and

 

(2)          any
partnership (a) the sole general partner or the managing general partner of which is such Person or a Subsidiary of such Person or (b)
the only general partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof).

 

“Subsidiary Guarantee” means
the Guarantee by any Subsidiary Guarantor.

 

“Subsidiary Guarantor” means
any Guarantor that is a Restricted Subsidiary of the Company.

 

“Tax Receivable Agreement” means
the Tax Receivable Agreement, dated as of November 8, 2019 (as amended, restated and/or modified), by and among Parent, AdaptHealth Holdings,
and the other parties party thereto.

 

“Total Assets” means the total
consolidated assets of the Company and its Restricted Subsidiaries as set forth on the most recent consolidated balance sheet of the Company
and its Restricted Subsidiaries.

 

“Total Net Leverage Ratio” shall
mean, on any date, the ratio of (a) Indebtedness of the Company and its Restricted Subsidiaries outstanding on such date consisting of
Indebtedness for borrowed money, Attributable Indebtedness, purchase money debt, unreimbursed amounts under letters of credit (subject
to the proviso below) and all guarantees of the foregoing, in each case (except in the case of guarantees) in an amount that would be
reflected on a balance sheet prepared as of such date on a consolidated basis in accordance with GAAP (but excluding the effects of any
discounting of Indebtedness resulting from the application of acquisition accounting in connection with any acquisition constituting an
Investment permitted under this Indenture); minus the amount of unrestricted cash and Cash Equivalents held, on such date, by the
Company and the Restricted Subsidiaries on such date (the aggregate amount of such deduction shall not exceed $75.0 million) to (b) Consolidated
Adjusted EBITDA for the most recent period of four consecutive fiscal quarters of the Company ended prior to such date for which internal
financial statements are available, in the case of this clause (b), with such adjustments to Consolidated Adjusted EBITDA for such period
as are consistent with those set forth in the definition of Fixed Charge Coverage Ratio.

 

“Treasury Rate” means, as of
any redemption date, as determined by the Company, the yield to maturity as of such redemption date of U.S. Treasury securities with a
constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 that has become publicly available
at least two business days prior to the redemption date (or, if such Statistical Release is no longer published, any publicly available
source of similar market data)) most nearly equal to the period from the redemption date to March 1, 2025; provided, however,
that if the period from the redemption date to March 1, 2025 is less than one year, the average yield of the most recent five Business
Days on actually traded U.S. Treasury securities adjusted to a constant maturity of one year will be used.

 

“Trustee” means the party named
as such in the preamble to this Indenture until a successor replaces it in accordance with the applicable provisions of this Indenture
and thereafter means the successor serving hereunder.

 

“Unrestricted Subsidiary” means
(1) any Subsidiary of the Company that at the time of determination shall be designated an Unrestricted Subsidiary by the Board of Directors
of the Company in accordance with Section 4.16 of this Indenture and (2) any Subsidiary of an Unrestricted Subsidiary.

 

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“Voting Stock” of any specified
Person as of any date means the Capital Stock of such Person that is at the time entitled to vote in the election of the Board of Directors
of such Person.

 

“Weighted Average Life to Maturity”
means, when applied to any Indebtedness at any date, the number of years obtained by dividing:

 

(1)          the
sum of the products obtained by multiplying (a) the amount of each then remaining installment, sinking fund, serial maturity or other
required payments of principal, including payment at final maturity, in respect of the Indebtedness, by (b) the number of years (calculated
to the nearest one-twelfth) that will elapse between such date and the making of such payment; by

 

(2)          the
then outstanding principal amount of such Indebtedness.

 

“Wholly Owned Subsidiary” of
any specified Person means a Subsidiary of such Person all of the outstanding Capital Stock or other ownership interest of which (other
than directors’ qualifying shares) will at that time be owned by such Person or by one or more Wholly Owned Subsidiaries of such
person.

 

Section 1.02              
Other Definitions.

 

	Term	Defined in Section
	“AdaptHealth Holdings”	1.01 (Definition of “Managing Member”)
	“Affiliate Transaction”	4.11
	“ASC”	1.01 (Definition of “Consolidated Net Income”)
	“Asset Sale Offer”	4.10
	“Authentication Order”	2.02
	“Calculation Date”	1.01 (Definition of “Fixed Charge Coverage Ratio”)
	“Change of Control Offer”	4.15
	“Change of Control Payment”	4.15
	“Change of Control Payment Date”	4.15
	“Covenant Defeasance”	8.03
	“Dividing Person”	1.01 (Definition of “Division”)
	“Event of Default”	6.01
	“Excess Proceeds”	4.10
	“Expiration Date”	1.05
	“FATCA”	12.18
	“Fixed Amounts”	1.01 (Definition of “Fixed Charge Coverage Ratio”)
	“Guaranteed Obligations”	10.01
	“incur”	4.09
	“Incurrence Based Amounts”	1.01 (Definition of “Fixed Charge Coverage Ratio”)
	“LCT Election”	1.06
	“LCT Test Date”	1.06
	“Legal Defeasance”	8.02
	“Make-Whole Redemption Date”	3.07
	“Measurement Period”	1.01 (Definition of “Consolidated Adjusted EBITDA”)
	“Note Register”	2.03
	“Paying Agent”	2.03
	“PDF”	12.16
	“Payment Default”	6.01
	“Permitted Debt”	4.09
	“Qualified Reporting Subsidiary”	4.04

 

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	“Receivables”	1.01 (Definition of “Qualified Receivables Transaction”)
	“Registrar”	2.03
	“Restricted Payments”	4.07
	“Reversion Date”	4.13
	“Subsequent Transaction”	1.06
	“Suspended Covenants”	4.13
	“Suspension Date”	4.13
	“Suspension Period”	4.13
	“Temporary Notes”	2.10

 

 

Section 1.03           Rules of Construction.

 

Unless the context otherwise requires:

 

(1)    
a term defined in Sections 1.01 or 1.02 of this Indenture shall have the meaning assigned to it herein;

 

(2)     an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP;

 

(3)     “or” is not exclusive;

 

(4)     words
in the singular include the plural, and words in the plural include the singular;

 

(5)     provisions
apply to successive events and transactions;

 

(6)     unless the context otherwise requires, any reference to an “Appendix,” “Article,” “Section,”
 “clause,” “Schedule” or “Exhibit” refers to an Appendix, Article, Section, clause, Schedule or Exhibit,
as the case may be, of this Indenture;

 

(7)     the
words “herein,” “hereof” and other words of similar import refer to this Indenture as a whole and not any particular
Article, Section, clause or other subdivision;

 

(8)     “including” means “including without limitation”;

 

(9)     references
to sections of, or rules under, the Securities Act or the Exchange Act shall be deemed to include substitute, replacement or successor
sections or rules adopted by the SEC from time to time;

 

(10)   
unless otherwise provided, references to agreements and other instruments shall be deemed to include all amendments and
other modifications to such agreements or instruments, but only to the extent such amendments and other modifications are not prohibited
by the terms of this Indenture; and

 

(11)   
in the event that a transaction meets the criteria of more than one category of permitted transactions or listed exceptions,
the Company may classify such transaction as it, in its sole discretion, determines.

 

Section 1.04           Trust Indenture Act.

 

This Indenture is not qualified under, and, does
not incorporate or include any of the provisions of, the Trust Indenture Action of 1939, as amended.

 

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Section 1.05           Acts
of Holders.

 

(a)        Any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture
to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such
Holders in person or by an agent duly appointed in writing. Except as herein otherwise expressly provided, such action shall become effective
when such instrument or instruments or record or both are delivered to the Trustee and, where it is hereby expressly required, to the
Company and the Guarantors. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for
any purpose of this Indenture and (subject to Section 7.01 of this Indenture) conclusive in favor of the Trustee, the Company and the
Guarantors, if made in the manner provided in this Section 1.05.

 

(b)        The
fact and date of the execution by any Person of any such instrument or writing may be proved (1) by the affidavit of a witness of such
execution or by the certificate of any notary public or other officer authorized by law to take acknowledgments of deeds, certifying
that the individual signing such instrument or writing acknowledged to him the execution thereof or (2) in any other manner deemed reasonably
sufficient by the Trustee. Where such execution is by a signer in a capacity other than an individual capacity, such certificate or affidavit
shall also constitute proof of the authority of the Person executing the same. The fact and date of the execution of any such instrument
or writing, or the authority of the Person executing the same, may also be proved in any other manner that the Trustee and the Company
deem sufficient.

 

(c)        The
ownership of Notes shall be proved by the Note Register.

 

(d)        Any
request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of any Note shall bind every future
Holder of the same Note and the Holder of every Note issued upon the registration of transfer thereof or in exchange therefor or in lieu
thereof, in respect of any action taken, suffered or omitted by the Trustee, the Company or the Guarantors in reliance thereon, whether
or not notation of such action is made upon such Note.

 

(e)        The
Company may set a record date for purposes of determining the identity of Holders entitled to make, give or take any request, demand,
authorization, direction, notice, consent, waiver or other action provided in this Indenture to be made, or to vote on or consent to
any action authorized or permitted to be taken by Holders; provided that the Company may not set a record date for, and the provisions
of this paragraph shall not apply with respect to, the giving or making of any notice, declaration, request or direction referred to
in clause (f) below. Unless otherwise specified, if not set by the Company prior to the first solicitation of a Holder made by any Person
in respect of any such action, or in the case of any such vote, prior to such vote, any such record date shall be the later of 30 days
prior to the first solicitation of such consent or vote or the date of the most recent list of Holders furnished to the Trustee prior
to such solicitation or vote. If any record date is set pursuant to this clause (e), the Holders on such record date, and only such Holders,
shall be entitled to make, give or take such request, demand, authorization, direction, notice, consent, waiver or other action (including
revocation of any action), whether or not such Holders remain Holders after such record date; provided that no such action shall
be effective hereunder unless made, given or taken on or prior to the applicable Expiration Date by Holders of the requisite principal
amount of Notes, or each affected Holder, as applicable, on such record date. Promptly after any record date is set pursuant to this
paragraph, the Company, at its own expense, shall cause notice of such record date, the proposed action by Holders and the applicable
Expiration Date to be given to the Trustee in writing and to each Holder in the manner set forth in Section 12.02 of this Indenture.

 

(f)         The
Trustee may set any day as a record date for the purpose of determining the Holders entitled to join in the giving or making of (1) any
notice of default under Section 6.01 of this Indenture, (2) any declaration of acceleration referred to in Section 6.02 of this
Indenture, (3) any direction referred to in Section 6.05 of this Indenture or (4) any request to pursue a remedy as permitted in
Section 6.06 of this Indenture. If any record date is set pursuant to this paragraph, the Holders on such record date, and no other
Holders, shall be entitled to join in such notice, declaration, request or direction, whether or not such Holders remain Holders after
such record date; provided that no such action shall be effective hereunder unless made, given or taken on or prior to the applicable
Expiration Date by Holders of the requisite principal amount of Notes or each affected Holder, as applicable, on such record date. Promptly
after any record date is set pursuant to this paragraph, the Trustee, at the Company’s expense, shall cause notice of such record
date, the proposed action by Holders and the applicable Expiration Date to be given to the Company and to each Holder in the manner set
forth in Section 12.02 of this Indenture.

 

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(g)       Without
limiting the foregoing, a Holder entitled to take any action hereunder with regard to any particular Note may do so with regard to all
or any part of the principal amount of such Note or by one or more duly appointed agents, each of which may do so pursuant to such appointment
with regard to all or any part of such principal amount. Any notice given or action taken by a Holder or its agents with regard to different
parts of such principal amount pursuant to this paragraph shall have the same effect as if given or taken by separate Holders of each
such different part.

 

(h)       Without limiting the generality of the foregoing, a Holder, including a Depositary that is the Holder of a Global Note,
may make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent,
waiver or other action provided in this Indenture to be made, given or taken by Holders, and a Depositary that is the Holder of a Global
Note may provide its proxy or proxies to the beneficial owners of interests in any such Global Note through such Depositary’s standing
instructions and customary practices.

 

(i)         The Company may fix a record date for the purpose of determining the Persons who are beneficial owners of interests in any
Global Note held by a Depositary entitled under the procedures of such Depositary, if any, to make, give or take, by a proxy or proxies
duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided in this Indenture
to be made, given or taken by Holders; provided that if such a record date is fixed, only the beneficial owners of interests in
such Global Note on such record date or their duly appointed proxy or proxies shall be entitled to make, give or take such request, demand,
authorization, direction, notice, consent, waiver or other action, whether or not such beneficial owners remain beneficial owners of interests
in such Global Note after such record date. No such request, demand, authorization, direction, notice, consent, waiver or other action
shall be effective hereunder unless made, given or taken on or prior to the applicable Expiration Date.

 

(j)         With
respect to any record date set pursuant to this Section 1.05, the party hereto that sets such record date may designate any day as the
 “Expiration Date” and from time to time may change the Expiration Date to any earlier or later day; provided
that no such change shall be effective unless notice of the proposed new Expiration Date is given to the other party hereto in writing,
and to each Holder in the manner set forth in Section 12.02 of this Indenture, on or prior to both the existing and the new Expiration
Date. If an Expiration Date is not designated with respect to any record date set pursuant to this Section 1.05, the party hereto which
set such record date shall be deemed to have initially designated the 90th day after such record date as the Expiration Date with respect
thereto, subject to its right to change the Expiration Date as provided in this clause (j).

 

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Section 1.06           Limited Condition Transactions.

 

This Indenture provides that, as it relates to
any action being taken solely in connection with a Limited Condition Transaction, for purposes of (i) determining compliance with any
provision of this Indenture which requires the calculation of any financial ratio or test, including the Secured Net Leverage Ratio,
Total Net Leverage Ratio and Fixed Charge Coverage Ratio, or (ii) testing availability under baskets set forth in this Indenture (including
baskets determined by reference to Total Assets), in each case, at the option of the Company (the Company’s election to exercise
such option in connection with any Limited Condition Transaction, an “LCT Election”), the date of determination of
whether any such action is permitted under this Indenture shall be deemed to be the date the definitive agreements for such Limited Condition
Transaction are entered into (the “LCT Test Date”), and if, after giving pro forma effect to the Limited Condition
Transaction (and the other transactions to be entered into in connection therewith, including any incurrence of Indebtedness and the
use of proceeds thereof, as if they had occurred on the first day of the most recent period of four consecutive fiscal quarters of the
Company ended prior to such date for which internal financial statements are available (except with respect to any incurrence or repayment
of Indebtedness for purposes of the calculation of any leverage-based test or ratio, which shall in each case be treated as if they had
occurred on the last day of such period)), the Company would have been permitted to take such action on the relevant LCT Test Date in
compliance with such ratio, test or basket, such ratio, test or basket shall be deemed to have been complied with; provided that,
if financial statements for one or more subsequent fiscal periods shall have become available, the Company may elect, in its sole discretion,
to redetermine all such ratios, tests or baskets on the basis of such financial statements, in which case, such date of redetermination
shall thereafter be deemed to be the applicable LCT Test Date. For the avoidance of doubt, if the Company has made an LCT Election and
any of the ratios, tests or baskets for which compliance was determined or tested as of the LCT Test Date would have failed to have been
complied with as a result of fluctuations in any such ratio, test or basket, including due to fluctuations in Consolidated Adjusted EBITDA
or Total Assets of the Company or the Person subject to such Limited Condition Transaction, at or prior to the consummation of the relevant
transaction or action, such baskets, tests or ratios will not be deemed to have failed to have been complied with as a result of such
fluctuations. If the Company has made an LCT Election for any Limited Condition Transaction, then in connection with any calculation
of any ratio, test or basket availability with respect to the incurrence of Indebtedness or Liens, the making of Restricted Payments,
the making of any Investment, mergers, the conveyance, lease or other transfer of all or substantially all of the assets of the Company,
the prepayment, redemption, purchase, defeasance or other satisfaction of Indebtedness, or the designation of an Unrestricted Subsidiary
(each, a “Subsequent Transaction”) following the relevant LCT Test Date and prior to the earlier of the date on which
such Limited Condition Transaction is consummated or the date that the definitive agreement or irrevocable notice for such Limited Condition
Transaction is terminated or expires without consummation of such Limited Condition Transaction, for purposes of determining whether
such Subsequent Transaction is permitted under this Indenture, any such ratio, test or basket shall be required to be satisfied on a
pro forma basis (i) assuming such Limited Condition Transaction and other transactions in connection therewith (including any incurrence
of Indebtedness and the use of proceeds thereof) have been consummated and (ii) assuming such Limited Condition Transaction and other
transactions in connection therewith (including any incurrence of Indebtedness and the use of proceeds thereof) have not been consummated.

 

Article 2

THE NOTES

 

Section 2.01           Form
and Dating; Terms.

 

(a)        Provisions relating to the Initial Notes, Additional Notes and any other Notes issued under this Indenture are set forth
in Appendix A, which is hereby incorporated in and expressly made a part of this Indenture. The Notes and the Trustee’s certificate
of authentication shall each be substantially in the form of Exhibit A hereto, which is hereby incorporated in and expressly made
a part of this Indenture. The Notes may have notations, legends or endorsements required by law, rules or agreements with national securities
exchanges to which the Company or any Guarantor is subject, if any, or usage (provided that any such notation, legend or endorsement
is in a form acceptable to the Company). Each Note shall be dated the date of its authentication. The Notes shall be in denominations
of $2,000 and integral multiples of $1,000 in excess thereof.

 

(b)        The
aggregate principal amount of Notes that may be authenticated and delivered under this Indenture is unlimited.

 

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

 

(d)        The
Notes shall be subject to repurchase by the Company pursuant to an Asset Sale Offer as provided in Section 4.10 of this Indenture or
a Change of Control Offer as provided in Section 4.15 of this Indenture, and otherwise as not prohibited by this Indenture. The Notes
shall not be redeemable, other than as provided in Article 3.

 

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(e)        Additional
Notes ranking pari passu with the Initial Notes may be created and issued from time to time by the Company without notice to or
consent of the Holders and shall be consolidated with and form a single class with the Initial Notes and shall have the same terms as
to status, redemption or otherwise (other than issue date, issue price and, if applicable, the first Interest Payment Date and the first
date from which interest will accrue) as the Initial Notes; provided that if any Additional Notes are not fungible with the Initial
Notes for U.S. federal income tax purposes, such Additional Notes will be issued as a separate series under this Indenture and will have
a separate CUSIP number and ISIN from the Initial Notes; provided, further, that the Company’s ability to issue Additional
Notes shall be subject to the Company’s compliance with Section 4.09 of this Indenture. Any Additional Notes shall be issued with
the benefit of an indenture supplemental to this Indenture.

 

Section 2.02           Execution and Authentication.

 

(a)        At
least one Officer shall execute the Notes on behalf of the Company by manual, electronic or facsimile signature. If an Officer whose
signature is on a Note no longer holds that office at the time a Note is authenticated, the Note shall nevertheless be valid.

 

(b)        A
Note shall not be entitled to any benefit under this Indenture or be valid or obligatory for any purpose until authenticated substantially
in the form of Exhibit A attached hereto by the manual or electronic signature of an authorized signatory of the Trustee. The signature
shall be conclusive evidence that the Note has been duly authenticated and delivered under this Indenture.

 

(c)         The
Trustee may appoint an authenticating agent acceptable to the Company to authenticate Notes. An authenticating agent may authenticate
Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such
agent. An authenticating agent has the same rights as an Agent to deal with Holders, the Company or an Affiliate of the Company.

 

(d)        The
Trustee shall authenticate upon a written order of the Company signed by one Officer of the Company (an “Authentication Order”)
(i) Initial Notes for original issue on the Issue Date in an aggregate principal amount of $600,000,000, (ii) subject to the terms
of this Indenture, Additional Notes and (iii) any Unrestricted Global Notes issued in exchange for any of the foregoing in accordance
with this Indenture. Such Authentication Order shall specify the amount of the Notes to be authenticated, the date on which the original
issue of Notes is to be authenticated and whether the Notes are to be Initial Notes, Additional Notes or Unrestricted Global Notes.

 

Section 2.03           Registrar
and Paying Agent.

 

(a)        The
Company shall maintain an office or agency where Notes may be presented for registration of transfer or for exchange (“Registrar”)
and at least one office or agency where Notes may be presented for payment (“Paying Agent”). The Registrar shall keep
a register of the Notes (“Note Register”) and of their transfer and exchange. The Company may appoint one or more
co-registrars and one or more additional paying agents. The term “Registrar” includes any co-registrar, and the term
 “Paying Agent” includes any additional paying agent. The Company may change any Paying Agent or Registrar without
prior notice to any Holder. The Company shall notify the Trustee in writing of the name and address of any Agent not a party to this
Indenture. If the Company fails to appoint or maintain another entity as Registrar or Paying Agent, the Trustee shall act as such. The
Company or any of its Restricted Subsidiaries may act as Paying Agent or Registrar.

 

(b)        The
Company initially appoints The Depository Trust Company to act as Depositary with respect to the Global Notes. The Company initially
appoints the Trustee to act as Paying Agent and Registrar for the Notes and to act as custodian with respect to the Global Notes.

 

Section 2.04           Paying Agent to Hold Money in Trust.

 

The Company shall, no later than 11:00 a.m. (New
York City time) on each due date for the payment of principal, premium, if any, and interest on any of the Notes, deposit with a Paying
Agent a sum sufficient to pay such amount, such sum to be held in trust for the Holders entitled to the same, and (unless such Paying
Agent is the Trustee) the Company shall promptly notify the Trustee of its action or failure so to act. The Company shall require each
Paying Agent other than the Trustee to agree in writing that such Paying Agent shall hold in trust for the benefit of Holders or the
Trustee all money held by such Paying Agent for the payment of principal, premium, if any, and interest on the Notes, and shall notify
the Trustee of any default by the Company in making any such payment. While any such default continues, the Trustee may require a Paying
Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to the
Trustee. Upon payment over to the Trustee, a Paying Agent shall have no further liability for the money. If the Company or a Restricted
Subsidiary acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Holders all money held by
it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Company, the Trustee shall serve as Paying Agent
for the Notes.

 

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Section 2.05         Holder
Lists.

 

The Trustee shall preserve in as current a form as
is reasonably practicable the most recent list available to it of the names and addresses of all Holders. If the Trustee is not the Registrar,
the Company shall furnish to the Trustee at least two Business Days before each Interest Payment Date and at such other times as the Trustee
may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of the
Holders.

 

Section 2.06         Transfer
and Exchange.

 

(a)                
The Notes shall be issued in registered form and shall be transferable only upon the surrender of a Note for registration
of transfer and in compliance with Appendix A.

 

(b)               
To permit registrations of transfers and exchanges, the Company shall execute and the Trustee shall authenticate Global
Notes and Definitive Notes upon receipt of an Authentication Order in accordance with Section 2.02 of this Indenture or at the Registrar’s
request.

 

(c)                
No service charge shall be imposed in connection with any registration of transfer or exchange (other than pursuant to Section
2.07 of this Indenture), but the Holders shall be required to pay any transfer tax or similar governmental charge payable in connection
therewith (other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Sections 2.10,
3.06, 4.10, 4.15 and 9.05 of this Indenture).

 

(d)               
All Global Notes and Definitive Notes issued upon any registration of transfer or exchange of Global Notes or Definitive
Notes shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture,
as the Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange.

 

(e)                
Neither the Company nor the Registrar shall be required (1) to issue, to register the transfer of or to exchange any Note
during a period beginning at the opening of business 15 days before the day of any selection of Notes for redemption under Section 3.02
of this Indenture and ending at the close of business on the day of selection, (2) to register the transfer of or to exchange any Note
so selected for redemption, or tendered for repurchase (and not withdrawn) in connection with a Change of Control Offer or an Asset Sale
Offer, in whole or in part, except the unredeemed or unpurchased portion of any Note being redeemed or repurchased in part or (3) to
register the transfer of or to exchange any Note between a Record Date and the next succeeding Interest Payment Date.

 

(f)                 
Prior to due presentment for the registration of a transfer of any Note, the Trustee, any Agent and the Company may deem
and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal,
premium, if any, and (subject to the Record Date provisions of the Notes) interest on such Notes and for all other purposes, and none
of the Trustee, any Agent or the Company shall be affected by notice to the contrary.

 

(g)               
Upon surrender for registration of transfer of any Note at the office or agency of the Company designated pursuant to Section
4.02 of this Indenture, the Company shall execute, and the Trustee shall authenticate and mail, in the name of the designated transferee
or transferees, one or more replacement Notes of any authorized denomination or denominations of a like aggregate principal amount.

 

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(h)               
 At the option of the Holder, Notes may be exchanged for other Notes of any authorized denomination or denominations of
a like aggregate principal amount upon surrender of the Notes to be exchanged at such office or agency. Whenever any Global Notes or Definitive
Notes are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and mail, the replacement Global
Notes and Definitive Notes which the Holder making the exchange is entitled to in accordance with the provisions of Appendix A.

 

(i)                 
All certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this Section
2.06 to effect a registration of transfer or exchange may be submitted by mail or by facsimile or electronic transmission.

 

Section 2.07         Replacement
Notes.

 

If a mutilated Note is surrendered to the Trustee
or if a Holder claims that its Note has been lost, destroyed or wrongfully taken and the Trustee receives evidence to its satisfaction
of the ownership and loss, destruction or theft of such Note, the Company shall issue and the Trustee, upon receipt of an Authentication
Order, shall authenticate a replacement Note if the Trustee’s requirements are otherwise met. If required by the Trustee or the
Company, an indemnity bond must be provided by the Holder that is sufficient in the judgment of the Trustee and the Company to protect
the Company, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer if a Note is replaced. The
Company may charge the Holder for the expenses of the Company and the Trustee in replacing a Note. Every replacement Note is a contractual
obligation of the Company and shall be entitled to all of the benefits of this Indenture equally and proportionately with all other Notes
duly issued hereunder. Notwithstanding the foregoing provisions of this Section 2.07, in case any mutilated, lost, destroyed or wrongfully
taken Note has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Note, pay such
Note.

 

Section 2.08         Outstanding
Notes.

 

(a)                
The Notes outstanding at any time are all the Notes authenticated by the Trustee except for those canceled by it, those
delivered to it for cancellation, those reductions in the interest in a Global Note effected by the Trustee in accordance with the provisions
hereof, and those described in this Section 2.08 as not outstanding. Except as set forth in Section 2.09 of this Indenture, a Note does
not cease to be outstanding because the Company or an Affiliate of the Company holds the Note.

 

(b)               
If a Note is replaced pursuant to Section 2.07 of this Indenture, it ceases to be outstanding unless the Trustee receives
proof satisfactory to it that the replaced Note is held by a protected purchaser, as such term is defined in Section 8-303 of the Uniform
Commercial Code in effect in the State of New York.

 

(c)                
If the principal amount of any Note is considered paid under ‎Section 4.01 of this Indenture, it ceases
to be outstanding and interest on it ceases to accrue from and after the date of such payment.

 

(d)               
If a Paying Agent (other than the Company, a Restricted Subsidiary or an Affiliate of any thereof) holds, on the maturity
date, any redemption date or any repurchase date, money sufficient to pay Notes payable or to be redeemed or purchased on that date, then
on and after that date such Notes shall be deemed to be no longer outstanding and shall cease to accrue interest.

 

Section 2.09         Treasury
Notes.

 

In determining whether the Holders of the requisite
principal amount of Notes have concurred in any direction, waiver or consent, Notes beneficially owned by the Company, or by any Affiliate
of the Company, shall be considered as though not outstanding, except that for the purposes of determining whether the Trustee shall be
protected in relying on any such direction, waiver or consent, only Notes that a Responsible Officer of the Trustee knows are so owned
shall be so disregarded. Notes so owned which have been pledged in good faith shall not be disregarded if the pledgee establishes to the
satisfaction of the Trustee the pledgee’s right to deliver any such direction, waiver or consent with respect to the Notes and that
the pledgee is not the Company or any obligor upon the Notes or any Affiliate of the Company or of such other obligor.

 

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Section 2.10         Temporary
Notes.

 

Until definitive Notes are ready for delivery, the
Company may prepare and the Trustee, upon receipt of an Authentication Order, shall authenticate temporary Notes (“Temporary
Notes”). Temporary Notes shall be substantially in the form of definitive Notes but may have variations that the Company considers
appropriate for Temporary Notes and as shall be reasonably acceptable to the Trustee. Without unreasonable delay, the Company shall prepare
and the Trustee shall authenticate definitive Notes in exchange for Temporary Notes. Holders and beneficial holders, as the case may be,
of Temporary Notes shall be entitled to all of the benefits accorded to Holders, or beneficial holders, respectively, of Notes under this
Indenture.

 

Section 2.11         Cancellation.

 

The Company at any time may deliver Notes to the
Trustee for cancellation. The Registrar and Paying Agent shall forward to the Trustee for cancellation any Notes surrendered to them for
registration of transfer, exchange or payment. The Trustee or, at the direction of the Trustee, the Registrar or the Paying Agent and
no one else shall cancel all Notes surrendered for registration of transfer, exchange, payment, replacement or cancellation and shall
destroy cancelled Notes in accordance with its customary procedures (subject to the record retention requirement of the Exchange Act).
Certification of the destruction of all cancelled Notes shall, upon the written request of the Company, be delivered to the Company. The
Company may not issue new Notes to replace Notes that it has paid or that have been delivered to the Trustee for cancellation.

 

Section 2.12         Defaulted
Interest.

 

(a)                
If the Company defaults in a payment of interest on the Notes, it shall pay the defaulted interest in any lawful manner
plus, to the extent lawful, interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special
record date, in each case at the rate provided in the Notes and in ‎Section 4.01 of this Indenture. The Company shall
notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment,
and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in
respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed
payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided
in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that
no such special record date shall be less than 10 days prior to the related payment date for such defaulted interest. The Trustee shall
promptly notify the Company of such special record date. At least 15 days before the special record date, the Company (or, upon the written
request of the Company, the Trustee in the name and at the expense of the Company) shall mail or deliver by electronic transmission in
accordance with the applicable procedures of the Depositary, or cause to be mailed or delivered by electronic transmission in accordance
with the applicable procedures of the Depositary to each Holder a notice that states the special record date, the related payment date
and the amount of such interest to be paid.

 

(b)               
Subject to the foregoing provisions of this Section 2.12 and for greater certainty, each Note delivered under this Indenture
upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid,
and to accrue interest, which were carried by such other Note.

 

Section 2.13         CUSIP
and ISIN Numbers

 

The Company in issuing the Notes may use CUSIP or
ISIN numbers (if then generally in use) and, if so, the Trustee shall use CUSIP or ISIN numbers in notices of redemption, exchange or
repurchase as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness
of such numbers either as printed on the Notes or as contained in any notice of redemption, exchange or repurchase and that reliance may
be placed only on the other identification numbers printed on the Notes, and any such redemption, exchange or repurchase shall not be
affected by any defect in or omission of such numbers. The Company shall as promptly as practicable notify the Trustee in writing of any
change in the CUSIP or ISIN numbers.

 

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Article 3

 

REDEMPTION

 

Section 3.01         Notices
to Trustee.

 

If the Company elects to redeem Notes pursuant to
Section 3.07 of this Indenture, it shall furnish to the Trustee, at least five Business Days before notice of redemption is required to
be mailed or transmitted or caused to be mailed or transmitted to Holders pursuant to Section 3.03 of this Indenture (unless a shorter
notice shall be agreed to by the Trustee) but not more than 60 days before a redemption date, an Officers’ Certificate setting forth
(a) the paragraph or subparagraph of such Note or Section of this Indenture pursuant to which the redemption shall occur, (b) the redemption
date, (c) the principal amount of the Notes to be redeemed and (d) the redemption price, if then ascertainable.

 

Section 3.02         Selection
and Notice.

 

(a)                
If less than all of the Notes are to be redeemed at any time, the Trustee will select Notes for redemption in accordance
with DTC’s requirements, or on a pro rata basis if in physical or certificated form, unless otherwise required by law or applicable
stock exchange requirements.

 

(b)               
No Notes of $2,000 or less can be redeemed in part. Notices of redemption will be transmitted at least ten but not more
than 60 days before the redemption date to each Holder to be redeemed at its registered address, except that redemption notices may be
transmitted more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes or a satisfaction
and discharge of this Indenture.

 

(c)                
If any Note is to be redeemed in part only, the notice of redemption that relates to that Note will state the portion of
the principal amount of that Note that is to be redeemed. A new Note in principal amount equal to the unredeemed portion of the original
Note will be issued in the name of the Holder upon cancellation of the original Note. Notes called for redemption become due on the date
fixed for redemption. On and after the redemption date, interest will cease to accrue on Notes or portions of Notes called for redemption
unless the Company defaults in the payment of the redemption price or the applicable notice of redemption is conditional and the conditions
are not satisfied or waived.

 

Section 3.03         Notice
of Redemption.

 

(a)                
The Company shall mail or deliver by electronic transmission in accordance with the applicable procedures of the Depositary,
or cause to be mailed or delivered by electronic transmission in accordance with the applicable procedures of the Depositary, notices
of redemption at least ten but not more than 60 days before the redemption date to each Holder of Notes to be redeemed at its registered
address, except that redemption notices may be transmitted more than 60 days prior to a redemption date if the notice is issued in connection
with a defeasance of the Notes or a satisfaction and discharge.

 

(b)               
The notice shall identify the Notes to be redeemed (including CUSIP and ISIN number, if applicable) and shall state:

 

(1)      
the redemption date;

 

(2)      
the redemption price, including the portion thereof representing any accrued and unpaid interest; provided that in
connection with a redemption under Section 3.07(a) of this Indenture, the notice need not set forth the redemption price but only
the manner of calculation thereof;

 

(3)      
if any Note is to be redeemed in part only, the portion of the principal amount of that Note that is to be redeemed;

 

(4)      
the name and address of the Paying Agent;

 

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(5)      
 that Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price;

 

(6)      
that, unless the Company defaults in making such redemption payment or the Paying Agent is prohibited from making such payment
pursuant to the terms of this Indenture, interest on Notes called for redemption ceases to accrue on and after the redemption date;

 

(7)      
the paragraph or subparagraph of the Notes or Section of this Indenture pursuant to which the Notes called for redemption
are being redeemed;

 

(8)      
that no representation is made as to the correctness or accuracy of the CUSIP or ISIN number, if any, listed in such notice
or printed on the Notes; and

 

(9)      
if applicable, any condition to such redemption.

 

(c)                
At the Company’s request, the Trustee shall give the notice of redemption in the Company’s name and at the Company’s
expense; provided that the Company shall have delivered to the Trustee, at least five Business Days before notice of redemption
is required to be sent or caused to be sent to Holders pursuant to this Section 3.03 (unless a shorter notice shall be agreed to by the
Trustee), an Officers’ Certificate requesting that the Trustee give such notice and setting forth the information to be stated in
such notice as provided in Section 3.03(b) of this Indenture.

 

Section 3.04         Effect
of Notice of Redemption.

 

Once a notice of redemption is transmitted or mailed
in accordance with Section 3.03 of this Indenture, Notes called for redemption become irrevocably due and payable on the redemption date
at the redemption price, except as otherwise set forth in this Section 3.04. Notice of any redemption of the Notes in connection with
a transaction or an event (including an Equity Offering, an incurrence of Indebtedness or a Change of Control) may, at the Company’s
discretion, be given prior to the completion or the occurrence thereof and any such redemption or notice may, at the Company’s discretion,
be subject to one or more conditions precedent, including, but not limited to, completion or occurrence of the related transaction or
event. In addition, if such redemption is subject to satisfaction of one or more conditions precedent, such notice shall describe each
such condition, and if applicable, shall state that, in the Company’s discretion, the redemption date may be delayed until such
time (including more than 60 days after the date the notice of redemption was delivered) as any or all conditions shall be satisfied,
or such redemption may not occur and such notice may be rescinded in the event that any or all such conditions shall not have been satisfied
by the redemption date, or by the redemption date as so delayed. In addition, the Company may provide in such notice that payment of the
redemption price and performance of the Company’s obligations with respect to such redemption may be performed by another Person.

 

Section 3.05         Deposit
of Redemption or Purchase Price.

 

(a)       No later
than 11:00 a.m. (New York City time) on the redemption or purchase date (or such later time as such date to which the Trustee may reasonably
agree), the Company shall deposit with the Trustee or with the Paying Agent money sufficient to pay the redemption or purchase price of
and accrued and unpaid interest on all Notes to be redeemed or purchased on that date. If a Note is redeemed or purchased on or after
a Record Date but on or prior to the related Interest Payment Date, then any accrued and unpaid interest shall be paid to the Holder of
record on such Record Date. The Paying Agent shall promptly mail to each Holder whose Notes are to be redeemed or repurchased the applicable
redemption or purchase price thereof and accrued and unpaid interest thereon. The Trustee or the Paying Agent shall promptly return to
the Company any money deposited with the Trustee or the Paying Agent by the Company in excess of the amounts necessary to pay the redemption
or purchase price of, and accrued and unpaid interest on, all Notes to be redeemed or purchased.

 

(b)       If
the Company complies with the provisions of Section 3.05(a) of this Indenture, on and after the redemption or purchase date,
interest shall cease to accrue on the Notes or the portions of Notes called for redemption or purchase. If a Note is redeemed or
purchased on or after a Record Date but on or prior to the related Interest Payment Date, then any accrued and unpaid interest to
the redemption or purchase date in respect of such Note will be paid on such redemption or purchase date to the Person in whose name
such Note is registered at the close of business on such Record Date. If any Note called for redemption or purchase shall not be so
paid upon surrender for redemption or purchase because of the failure of the Company to comply with Section 3.05(a) of this
Indenture, interest shall be paid on the unpaid principal, from the redemption or purchase date until such principal is paid, and,
to the extent lawful, on any interest accrued to the redemption or purchase date not paid on such unpaid principal, in each case at
the rate provided in the Notes and in Section 4.01 of this Indenture.

 

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Section 3.06         Notes
Redeemed or Purchased in Part.

 

Upon surrender of a Note that is redeemed or purchased
in part, the Company shall issue and, upon receipt of an Authentication Order, the Trustee shall promptly authenticate and mail to the
Holder (or cause to be transferred by book entry) at the expense of the Company a new Note equal in principal amount to the unredeemed
or unpurchased portion of the Note surrendered representing the same Indebtedness to the extent not redeemed or purchased; provided
that each new Note shall be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof.

 

Section 3.07         Optional
Redemption.

 

(a)                
At any time prior to March 1, 2025, the Company may, on any one or more occasions, redeem up to 40% of the aggregate principal
amount of Notes issued under this Indenture (including any Additional Notes) at a redemption price of 105.125% of the principal amount,
plus accrued and unpaid interest, if any, to, but excluding, the redemption date, with the net cash proceeds of one or more Equity
Offerings by the Company or a contribution to the equity capital of the Company (other than Disqualified Stock) from the net proceeds
of one or more Equity Offerings by any Parent Company (in each case, other than Excluded Contributions); provided that (1) at least
60% of the aggregate principal amount of Notes originally issued under this Indenture (including any Additional Notes but excluding Notes
held by the Company and its Subsidiaries) remains outstanding immediately after the occurrence of such redemption; and (2) the redemption
occurs within 90 days of the date of the closing of such Equity Offering or equity contribution.

 

(b)               
On or after March 1, 2025, the Company may redeem all or a part of the Notes upon not less than ten nor more than 60 days’
notice, at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest,
if any, on the Notes redeemed, to, but excluding, the applicable redemption date, if redeemed during the 12-month period beginning on
March 1 of the years indicated below, subject to the rights of Holders of Notes on the relevant record date to receive interest on the
relevant Interest Payment Date:

 

	Year	 	Percentage	 
	 	2025	 	 	102.563	%
	 	2026	 	 	101.281	%
	 	2027 and thereafter	 	 	100.000	%

 

(c)                
Prior to March 1, 2025, the Company may also redeem all or any portion of the Notes upon not less than ten nor more than
60 days’ prior notice, at a redemption price equal to 100% of the principal amount thereof plus the Applicable Premium as
of, and accrued and unpaid interest thereon, if any, to, but excluding, the date of redemption (a “Make-Whole Redemption Date”).

 

(d)               
Unless the Company defaults in the payment of the redemption price, interest will cease to accrue on the Notes or portions
thereof called for redemption on the applicable redemption date.

 

(e)                
Any redemption pursuant to this Section 3.07 shall be made pursuant to the provisions of Sections 3.01 through 3.06 of this
Indenture.

 

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Section 3.08         Mandatory
Redemption.

 

The Company is not required to make mandatory redemption
or sinking fund payments with respect to the Notes.

 

Article 4

 

COVENANTS

 

Section 4.01         Payment
of Notes.

 

(a) The Company shall pay or cause to be paid the
principal of, premium, if any, and interest on the Notes on the dates and in the manner provided in the Notes. Principal, premium, if
any, and interest shall be considered paid on the date due if the Paying Agent, if other than the Company or a Restricted Subsidiary thereof,
holds on the due date money deposited by or on behalf of the Company in immediately available funds and designated for and sufficient
to pay all principal, premium, if any, and interest then due.

 

(b) The Company shall pay interest (including post-petition
interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, at the rate equal to the then applicable
interest rate on the Notes to the extent lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy
Law) on overdue installments of interest (without regard to any applicable grace period) at the same rate to the extent lawful.

 

Section 4.02         Maintenance
of Office or Agency.

 

(a) The Company shall maintain in the Borough of
Manhattan, the City of New York, an office or agency (which may be an office of the Trustee or an affiliate of the Trustee, Registrar
or co-registrar) where Notes may be surrendered for registration of transfer or for exchange and where notices and demands to or upon
the Company and the Guarantors in respect of the Notes and this Indenture may be served. The Company shall give prompt written notice
to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company fails to maintain
any such required office or agency or fails to furnish the Trustee with the address thereof, such presentations, surrenders, notices and
demands may be made or served at the Corporate Trust Office of the Trustee.

 

(b) The Company may also from time to time designate
one or more other offices or agencies where the Notes may be presented or surrendered for any or all such purposes and may from time to
time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company
of its obligation to maintain an office or agency in the Borough of Manhattan, the City of New York for such purposes. The Company shall
give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office
or agency.

 

(c)       The
Company hereby designates the Corporate Trust Office of the Trustee as one such office or agency of the Company in accordance with Section
2.03 of this Indenture.

 

Section 4.03         Taxes.

 

The Company shall pay, and shall cause each of its
Restricted Subsidiaries to pay, prior to delinquency, all material taxes, assessments and governmental levies except (a) such as are being
contested in good faith and by appropriate negotiations or proceedings or (b) where the failure to effect such payment is not adverse
in any material respect to the Holders.

 

Section 4.04         Reports.

 

(a)                
So long as any Notes are outstanding, the Company will furnish to the Trustee and the Holders:

 

(1)      
 within 75 days after the end of each fiscal year of the Company commencing with the year ending December 31, 2021, all
annual financial statements of the Company substantially in the form that would be required to be contained in a filing with the SEC on
Form 10-K, in accordance with the requirements of such Form 10-K as of the Issue Date, if the Company were required to file such form,
together with a report thereon by the Company’s independent registered public accounting firm, and a “Management’s Discussion
and Analysis of Financial Condition and Results of Operations,” that is substantially consistent with the presentation thereof included
in the Offering Memorandum;

 

    -37-

     

    

 

(2)      
within 40 days after the end of each fiscal quarter of the Company ending after the Issue Date (solely with respect to the
first three fiscal quarters of each fiscal year), all quarterly financial statements of the Company substantially in the form that would
be required to be contained in a filing with the SEC on Form 10-Q, in accordance with the requirements of such Form 10-Q as of the Issue
Date, if the Company were required to file such form, and a “Management’s Discussion and Analysis of Financial Condition and
Results of Operations;” and

 

(3)      
promptly from time to time after the occurrence of an event required to be therein reported, such other information containing
substantially the same information that would be required to be contained in filings with the SEC on Form 8-K, in accordance with the
requirements of such Form 8-K as of the Issue Date, under Items:

 

		·	1.01 (Entry into a Material Definitive Agreement);

 

		·	1.03 (Bankruptcy or Receivership);

 

		·	2.01 (Completion of Acquisition or Disposition of Assets);

 

		·	2.03 (Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant);

 

		·	2.04 (Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement);

 

		·	4.02 (Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review);

 

		·	5.01 (Changes in Control of Registrant);

 

		·	5.02(a)(1) (Resignation of Director due to Disagreement with Registrant);

 

		·	5.02(c)(1) (Name and Position of Newly Appointed Officer and Date of Appointment); and

 

		·	5.03(b) (Changes in Fiscal Year),

 

if the Company were required to file such reports;
provided, however, that no such Form 8-K report will be required to be furnished if the Company determines in its good faith
judgment that such event is not material to Holders or the business, assets, operations, financial position or prospects of the Company
and its Restricted Subsidiaries, taken as a whole, or if the Company determines in its good faith judgment that such disclosure would
otherwise cause material competitive harm to the business, assets, operations, financial position or prospects of the Company and its
Restricted Subsidiaries, taken as a whole.

 

(b)               
With respect to the reports required to be furnished by clause (a) above:

 

(1)       no
such reports referenced under clause (a)(3) above will be required to include as an exhibit or summary of terms of, any employment
or compensatory arrangement agreement, plan or understanding between the Company (or any of its Subsidiaries or any Parent Company)
and any director, manager or executive officer, of the Company (or any of its Subsidiaries or any Parent Company);

 

    -38-

     

    

 

(2)      
in no event will such reports be required to comply with Section 302, Section 404 or Section 906 of the Sarbanes-Oxley Act
of 2002, or related Items 307 and 308 of Regulation S-K promulgated by the SEC;

 

(3)      
in no event will such reports be required to comply with Item 302 of Regulation S-K promulgated by the SEC;

 

(4)      
in no event will such reports be required to comply with Rule 3-10 of Regulation S-X promulgated by the SEC or contain separate
financial statements for the Company, AdaptHealth Intermediate or the Subsidiary Guarantors;

 

(5)      
in no event will such reports be required to comply with Item 601 of Regulation S-K promulgated by the SEC (with respect
to exhibits) or, with respect to reports referenced in clause (a)(3) above, to include as an exhibit copies of any agreements, financial
statements or other items that would be required to be filed as exhibits to a current report on Form 8-K;

 

(6)      
trade secrets and other confidential information that is competitively sensitive in the good faith and reasonable determination
of the Company may be excluded from any disclosures;

 

(7)      
to the extent that the Company (or any Parent Company pursuant to the immediately following paragraph) is not a reporting
company under the Exchange Act, in no event will such reports be required to be presented in compliance with the requirements of the Public
Company Accounting Oversight Board; and

 

(8)      
in no event will such reports contain compensation or beneficial ownership information.

 

(c)                
The Company may satisfy its obligations in this Section 4.04 with respect to financial information relating to the Company
by furnishing financial information relating to any Parent Company; provided that if and so long as such Parent Company has Independent
Assets or Operations, the same is accompanied by consolidating information (which need not be audited) that explains in reasonable detail
the differences between the information relating to such Parent Company, on the one hand, and the information relating to the Company
and its Restricted Subsidiaries on a stand-alone basis, on the other hand.

 

(d)               
In addition, notwithstanding the foregoing, the financial statements, information, auditors’ reports and other documents
and information required to be provided pursuant to clause (a) above may be, rather than those of the Company, those of (a) any predecessor
or successor of the Company, (b) any Wholly Owned Subsidiary which is a Restricted Subsidiary of the Company that, together with its consolidated
Subsidiaries, constitutes substantially all of the assets of the Company and its consolidated Subsidiaries (“Qualified Reporting
Subsidiary”) or (c) any Parent Company; provided that, if the financial information required to be provided pursuant
to clause (a) above relates to such Qualified Reporting Subsidiary of the Company or such Parent Company, such financial information will
be accompanied by consolidating information (which need not be audited) that explains in reasonable detail (in the good faith judgment
of the Company) the differences between the information relating to such Qualified Reporting Subsidiary or such Parent Company (solely
in the case such Parent Company has Independent Assets or Operations) (as the case may be), on the one hand, and the information relating
to the Company and its Subsidiaries on a stand-alone basis, on the other hand. If the Company has designated any of its Subsidiaries as
Unrestricted Subsidiaries and such Unrestricted Subsidiaries, either individually or collectively, would otherwise have been a Significant
Subsidiary of the Company, then the annual and quarterly financial information required by the preceding paragraphs shall include a reasonably
detailed presentation, as determined in good faith by senior management of the Company, either on the face of the financial statements
or in the footnotes to the financial statements and in the “Management’s Discussion and Analysis of Financial Condition and
Results of Operations” section, of the financial condition and results of operations of the Company and its Restricted Subsidiaries
separate from the financial condition and results of operations of the Unrestricted Subsidiaries.

 

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(e)                
 During any period that the Company or any Parent Company has not filed the corresponding reports referred to in clause
(a) above with the SEC via the EDGAR filing system (or any successor system), the Company will make available such information and such
reports to any Holder and, upon request, to any beneficial owner of the Notes, in each case by posting such information on its website,
on Intralinks, SyndTrak, ClearPar or any comparable password-protected online data system that will require a confidentiality acknowledgment,
and will make such information readily available to any Holder, any bona fide prospective investor in the Notes (which prospective investors
will be limited to “qualified institutional buyers” within the meaning of Rule 144A under the Securities Act that certify
their status as such to the reasonable satisfaction of the Company), any bona fide securities analyst (to the extent providing analysis
of investment in the Notes to investors and prospective investors therein) or any bona fide market maker in the Notes who agrees to treat
such information as confidential or accesses such information on Intralinks SyndTrak, ClearPar or any comparable password-protected online
data system that will require a confidentiality acknowledgment; provided that the Company may deny access to any competitively-sensitive
information otherwise to be provided pursuant to this clause (e) to any such Holder, prospective investor, security analyst or market
maker that is a competitor of the Company and its Subsidiaries, or an affiliate of such a competitor (other than any affiliate that is
a bona fide bank debt fund, distressed asset fund, hedge fund, mutual fund, insurance company, financial institution or investment vehicle
engaged in the business of investing in, acquiring or trading commercial loans, bonds and similar extensions of credit in the ordinary
course (and not organized primarily for the purpose of making equity investments)) to the extent that the Company determines in good faith
that the provision of such information to such Person would be competitively harmful to the Company and its Subsidiaries; provided,
further, that such Holders, prospective investors, security analysts or market makers will agree to (1) treat all such reports
(and the information contained therein) and information as confidential, (2) not use such reports and the information contained therein
for any purpose other than their investment or potential investment in the Notes and (3) not publicly disclose or distribute any such
reports (and the information contained therein).

 

(f)                 
In addition, to the extent not satisfied by the reports required by this Section 4.04 or otherwise made publicly available
by the Company, the Company will furnish to Holders thereof and prospective investors in the Notes, upon their request, the information,
if any, required to be delivered pursuant to Rule 144A(d)(4) (or any successor provision) under the Securities Act.

 

(g)               
The Company will be deemed to have furnished the reports referred to in clause (a) above if the Company or any Parent Company
has filed the corresponding reports containing such information with the SEC via the EDGAR filing system (or any successor system).

 

(h)               
The Company shall participate in quarterly conference calls after the delivery of the information referred to in clause
(a)(1) or (a)(2) above (which may be a single conference call together with investors and lenders holding other securities or Indebtedness
of the Company and/or its Restricted Subsidiaries and/or any Parent Company) to discuss operating results and related matters. The Company
shall issue a press release or otherwise provide notice of such conference call in the same manner in which information was delivered
pursuant to clause (a)(1) and (a)(2) above which will provide the date and time of any such call and will direct Holders, prospective
investors and securities analysts to contact the investor relations office of the Company to obtain access to the conference call.

 

(i)                 
It is understood that the Trustee shall have no obligation whatsoever to determine whether or not such information, documents
or reports have been posted on the Company’s website or filed with the SEC. The posting or delivery of any such reports, information
and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive
or actual notice of any information contained therein or determinable from information contained therein, including the Company’s
compliance with any of the covenants under this Indenture (as to which the Trustee is entitled to rely exclusively on an Officers’
Certificate).

 

Section 4.05         Compliance
Certificate.

 

(a)                 The
Company shall deliver to the Trustee, within 120 days after the end of each fiscal year of the Company, an Officers’
Certificate stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been
made under the supervision of the signing Officers with a view to determining whether the Company has kept, observed, performed and
fulfilled its obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to his
or her knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is
not in default in the performance or observance of any of the terms, provisions and conditions of this 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 the Company is taking or proposes to take with respect thereto).

 

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(b)               
So long as any of the Notes are outstanding, the Company shall deliver to the Trustee, within 30 days upon any Officer becoming
aware of any Default or Event of Default, an Officers’ Certificate specifying such Default or Event of Default and what action the
Company is taking or proposes to take with respect thereto.

 

Section 4.06         Stay,
Extension and Usury Laws.

 

The Company and each of the Guarantors covenant (to
the extent that they may lawfully do so) that they shall not at any time insist upon, plead, or in any manner whatsoever claim or take
the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect
the covenants or the performance of this Indenture; and the Company and each of the Guarantors (to the extent that they may lawfully do
so) hereby expressly waive all benefit or advantage of any such law, and covenant that they shall not, by resort to any such law, hinder,
delay or impede the execution of any power herein granted to the Trustee, but shall suffer and permit the execution of every such power
as though no such law has been enacted.

 

Section 4.07         Restricted
Payments

 

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

 

(1)   
declare or pay any dividend or make any other payment or distribution on account of the Company’s or any of its Restricted
Subsidiaries’ Equity Interests (including, without limitation, any payment in connection with any merger or consolidation involving
the Company or any of its Restricted Subsidiaries) or to the direct or indirect holders of the Company’s or any of its Restricted
Subsidiaries’ Equity Interests in their capacity as such (other than dividends or distributions payable in Equity Interests (other
than Disqualified Stock) of the Company); provided that the repurchase, redemption or other acquisition or retirement for value
of any Equity Interests of a Restricted Subsidiary of the Company shall not constitute a Restricted Payment;

 

(2)   
purchase, redeem or otherwise acquire or retire for value (including, without limitation, in connection with any merger
or consolidation involving the Company) any Equity Interests of the Company or any Parent Company;

 

(3)   
make any payment on or with respect to, or purchase, repurchase, redeem, defease or otherwise acquire or retire for value
any Indebtedness of the Company or any Subsidiary Guarantor that is contractually subordinated to the Notes or to any Subsidiary Guarantee
(excluding any intercompany Indebtedness between or among the Company and any of its Restricted Subsidiaries), except (i) a payment of
interest or principal at the Stated Maturity thereof or (ii) the purchase, repurchase, redemption, defeasance or other acquisition or
retirement of any such subordinated Indebtedness purchased in anticipation of satisfying a sinking fund obligation, principal installment
or payment at final maturity, in each case within one year of the date of such purchase, repurchase, redemption, defeasance or other acquisition
or retirement; or

 

(4)   
make any Restricted Investment;

 

(All such payments and other actions
set forth in these clauses (1) through (4) of this Section 4.07(a) are collectively referred to as “Restricted Payments”).

 

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(b)               
 Notwithstanding clause (a) above, the Company and its Restricted Subsidiaries shall be permitted to make Restricted Payments
if at the time of and after giving effect to such Restricted Payment:

 

(1)      
no Default or Event of Default has occurred and is continuing or would occur as a consequence of such Restricted Payment;

 

(2)      
the Company would, at the time of such Restricted Payment and after giving pro forma effect thereto as if such Restricted
Payment had been made at the beginning of the applicable four-quarter period, have been permitted to incur at least $1.00 of additional
Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 4.09(a) of this Indenture; and

 

(3)      
such Restricted Payment, together with the aggregate amount of all other Restricted Payments made by the Company and its
Restricted Subsidiaries since July 1, 2020 (excluding Restricted Payments permitted by clauses (2), (3), (4), (5), (6), (7), (8), (9),
(11), (12), (13), (14) and (15) of Section 4.07(c) of this Indenture), is less than $100.0 million plus the sum, without duplication,
of:

 

(A)              
50% of the Consolidated Net Income of the Company for the period (taken as one accounting period) from July 1, 2020 to the
end of the Company’s most recently ended fiscal quarter for which internal financial statements are available at the time of such
Restricted Payment (or, if such Consolidated Net Income for such period is a deficit, less 100% of such deficit); plus

 

(B)              
100% of the aggregate Qualified Proceeds received by the Company since July 1, 2020 as a contribution to its equity capital
(other than Disqualified Stock) or from the issue or sale of Equity Interests of the Company (other than Disqualified Stock, Excluded
Contributions and Qualified Proceeds applied in accordance with Section 4.07(c)(7)(A) of this Indenture) or from the issue or sale of
convertible or exchangeable Disqualified Stock or convertible or exchangeable debt securities of the Company (other than Equity Interests
(or Disqualified Stock or debt securities) sold to a Subsidiary of the Company) that have been converted into or exchanged for such Equity
Interests (other than Disqualified Stock); plus

 

(C)              
an amount equal to the net reduction in Investments by the Company and its Restricted Subsidiaries resulting from (x) the
sale or other disposition (other than to the Company or a Restricted Subsidiary) of any Restricted Investment that was made after the
Issue Date (other than Section 4.07(c)(15) of this Indenture) and (y) repurchases, redemptions and repayments of such Restricted Investments
and the receipt of any dividends or distributions from such Restricted Investments to the extent not otherwise included in Consolidated
Net Income; plus

 

(D)              
to the extent that any Unrestricted Subsidiary of the Company was or is redesignated as a Restricted Subsidiary after the
Issue Date, an amount equal to the Fair Market Value of the Company’s interest in such Subsidiary immediately prior to such redesignation;
plus

 

(E)               
in the event the Company and/or any Restricted Subsidiary of the Company makes any Restricted Investment in a Person that,
as a result of or in connection with such Investment, becomes a Restricted Subsidiary of the Company, an amount equal to the existing
Investment of the Company and/or any of its Restricted Subsidiaries in such Person that was previously treated as a Restricted Payment
(other than Section 4.07(c)(15) of this Indenture).

 

(c)                
Section 4.07(a) of this Indenture shall not prohibit:

 

(1)      
the payment of any dividend or other distribution or the consummation of any irrevocable redemption within 60 days after
the date of declaration of the dividend or giving of the redemption notice, as the case may be, if at the date of declaration or notice,
the dividend or redemption payment would have complied with the provisions of this Indenture;

 

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(2)      
 the making of any Restricted Payment in exchange for, or out of the net cash proceeds of the substantially concurrent sale
(other than to a Restricted Subsidiary of the Company) of, Equity Interests of the Company (other than Disqualified Stock) or from the
substantially concurrent contribution of equity capital to the Company (other than Disqualified Stock); provided that the amount
of any such net cash proceeds that are utilized for any such Restricted Payment will be excluded from Section 4.07(b)(3)(B) of this Indenture;

 

(3)      
the repurchase, redemption, defeasance or other acquisition or retirement for value of Indebtedness of the Company or any
Subsidiary Guarantor that is contractually subordinated to the Notes or to any Subsidiary Guarantee with the net cash proceeds from a
substantially concurrent incurrence of Permitted Refinancing Indebtedness, or from the substantially concurrent sale (other than to a
Restricted Subsidiary of the Company) of, Equity Interests of the Company (other than Disqualified Stock) or from the substantially concurrent
contribution of equity capital to the Company (other than Disqualified Stock); provided that the amount of any such net cash proceeds
that are utilized for any such Restricted Payment will be excluded from Section 4.07(b)(3)(B) of this Indenture;

 

(4)      
the declaration and payment of regularly scheduled or accrued dividends to holders of any class or series of Disqualified
Stock of the Company or any Restricted Subsidiary of the Company which Disqualified Stock was issued after the Issue Date in accordance
with Section 4.09 of this Indenture;

 

(5)      
the repurchase, redemption or other acquisition or retirement for value of Disqualified Stock of the Company or any Restricted
Subsidiary of the Company made by exchange for, or out of the proceeds of the substantially concurrent sale of Replacement Preferred Stock
that is permitted to be incurred pursuant to Section 4.09 of this Indenture;

 

(6)      
the payment of any dividend (or any similar distribution) by a Restricted Subsidiary of the Company to the holders of its
Equity Interests on a pro rata basis;

 

(7)      
the repurchase, redemption or other acquisition or retirement for value of any Equity Interests of the Company or any Restricted
Subsidiary of the Company held by any current or former officer, director, employee or consultant (or their estates or beneficiaries under
their estates) of the Company or any of its Restricted Subsidiaries, and any dividend payment or other distribution by the Company or
a Restricted Subsidiary to any Parent Company utilized for the repurchase, redemption or other acquisition or retirement for value of
any Equity Interests of such Parent Company held by any current or former officer, director, employee or consultant (or their estates
or beneficiaries under their estates) of the Company or any of its Restricted Subsidiaries or any Parent Company, in each case, upon such
Person’s death, disability, retirement or termination of employment; provided that the aggregate price paid for all such
repurchased, redeemed, acquired or retired Equity Interests may not exceed $10.0 million in any fiscal year (it being understood, however,
that unused amounts permitted to be paid pursuant to this proviso are available to be carried over to subsequent fiscal years subject
to a maximum of $40.0 million in any fiscal year); provided, further, that such amount in any fiscal year may be increased by an
amount not to exceed:

 

(A)              
the cash proceeds from the sale of Equity Interests of the Company and, to the extent contributed to the Company as equity
capital (other than Disqualified Stock), Equity Interests of any Parent Company, in each case to members of management, directors or consultants
of the Company, any of its Subsidiaries or any Parent Company that occurs after the Issue Date, to the extent the cash proceeds from the
sale of such Equity Interests have not otherwise been applied to the payment of Restricted Payments by virtue of Section 4.07(b)(3)(B)
of this Indenture, and excluding Excluded Contributions, plus

 

(B)              
the cash proceeds of key man life insurance policies received by the Company and its Restricted Subsidiaries after the Issue
Date, less

 

(C)              
the amount of any Restricted Payments previously made pursuant to clauses (A) and (B) of this clause (7);

 

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(8)      
 the repurchase of Equity Interests deemed to occur upon the exercise of options, rights or warrants or upon vesting of
common stock, in each case, to the extent such Equity Interests represent a portion of the exercise price of those options, rights, warrants
or common stock;

 

(9)      
the repurchase, redemption, defeasance or other acquisition or retirement for value of Indebtedness of the Company or any
Subsidiary Guarantor that is contractually subordinated to the Notes or to any Subsidiary Guarantee with any Excess Proceeds that remain
after consummation of an Asset Sale Offer;

 

(10)   
so long as no Default has occurred and is continuing or would be caused thereby, after the occurrence of a Change of Control
and the completion of the offer to repurchase the Notes pursuant to Section 4.15 of this Indenture (including the purchase of the Notes
tendered), any purchase or redemption of Indebtedness that is contractually subordinated to the Notes or to any Subsidiary Guarantee required
pursuant to the terms thereof as a result of such Change of Control at a purchase or redemption price not to exceed 101% of the outstanding
principal amount thereof, plus any accrued and unpaid interest;

 

(11)   
cash payments in lieu of fractional shares issuable as dividends on common stock or preferred stock or upon the conversion
of any convertible debt securities of the Company or any of its Restricted Subsidiaries;

 

(12)   
Permitted Payments to Parent;

 

(13)   
Investments that are made with Excluded Contributions;

 

(14)   
distributions or payments of Receivables Fees;

 

(15)   
so long as no Default or Event of Default has occurred and is continuing or would be caused thereby, other Restricted Payments
in an aggregate amount since the Issue Date not to exceed the greater of (a) $90.0 million and (b) 5.0% of Total Assets; and

 

(16)   
additional Restricted Payments; provided that (x) no Event of Default has occurred and is continuing or would result
therefrom and (y) on a pro forma basis after giving effect to any such Restricted Payment pursuant to this clause (16), the Total Net
Leverage Ratio would not exceed 3.00 to 1.00.

 

(d)               
The amount of all Restricted Payments (other than cash) will be the Fair Market Value on the date of the Restricted Payment
of the asset(s) or securities proposed to be transferred or issued by the Company or such Restricted Subsidiary, as the case may be, pursuant
to the Restricted Payment. The Fair Market Value of any assets or securities that are required to be valued by this Section 4.07 will,
if the fair market value thereof exceeds $25.0 million, be determined by the Board of Directors of the Company whose resolution with respect
thereto will be delivered to the Trustee.

 

(e)                For
purposes of determining compliance with the provisions of this Section 4.07, in the event that a Restricted Payment meets the criteria
of more than one of the types of Restricted Payments described in the above clauses, the Company, in its sole discretion, may order and
classify, and from time to time may reorder and reclassify, such Restricted Payment if it would have been permitted at the time such Restricted
Payment was made and at the time of any such reclassification.

 

Section 4.08         Dividend
and Other Payment Restrictions Affecting Restricted Subsidiaries.

 

(a)                
The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create or permit
to exist or become effective any consensual encumbrance or restriction on the ability of any Restricted Subsidiary to:

 

(1)      
 pay dividends or make any other distributions on its Capital Stock to the Company or any of its Restricted Subsidiaries,
or with respect to any other interest or participation in, or measured by, its profits, or pay any Indebtedness owed to the Company or
any of its Restricted Subsidiaries;

 

    -44-

     

    

 

(2)      
make loans or advances to the Company or any of its Restricted Subsidiaries; or

 

(3)      
sell, lease or transfer any of its properties or assets to the Company or any of its Restricted Subsidiaries.

 

(b)               
Section 4.08(a) of this Indenture shall not apply to encumbrances or restrictions existing under or by reason of:

 

(1)      
agreements governing Existing Indebtedness and the Credit Agreement as in effect on the Issue Date;

 

(2)      
this Indenture, the Notes and the Subsidiary Guarantees;

 

(3)       
applicable law, rule, regulation or order;

 

(4)      
any instrument or agreement governing Indebtedness or Capital Stock of a Restricted Subsidiary acquired by the Company or
any of its Restricted Subsidiaries as in effect at the time of such acquisition (except to the extent such Indebtedness or Capital Stock
was incurred in connection with or in contemplation of such acquisition), which encumbrance or restriction is not applicable to any Person,
or the properties or assets of any Person, other than the Person or any of its Subsidiaries, or the property or assets of the Person or
any of its Subsidiaries, so acquired; provided that, in the case of Indebtedness, such Indebtedness was permitted by the terms
of this Indenture to be incurred;

 

(5)      
customary non-assignment provisions in contracts, leases, subleases, licenses and sublicenses entered into in the ordinary
course of business;

 

(6)      
customary restrictions in leases (including capital leases), security agreements or mortgages or other purchase money obligations
for property acquired in the ordinary course of business that impose restrictions on the property purchased or leased of the nature described
in Section 4.08(a)(3) of this Indenture;

 

(7)      
any agreement for the sale or other disposition of all or substantially all the Capital Stock or the assets of a Restricted
Subsidiary that restricts distributions by that Restricted Subsidiary pending the sale or other disposition;

 

(8)      
any instrument or agreement governing Permitted Refinancing Indebtedness; provided that the restrictions contained
therein are not materially more restrictive, taken as a whole, than those contained in the agreements governing the Indebtedness being
refinanced;

 

(9)      
Liens permitted to be incurred under Section 4.12 of this Indenture that limit the right of the debtor to dispose of the
assets subject to such Liens;

 

(10)   
provisions limiting the disposition or distribution of assets or property in joint venture agreements, asset sale agreements,
sale-leaseback agreements, stock sale agreements and other similar agreements, which limitation is applicable only to the assets that
are the subject of such agreements;

 

(11)   
restrictions on cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary course
of business;

 

(12)   
customary provisions imposed on the transfer of copyrighted or patented materials;

 

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(13)   
 customary provisions restricting dispositions of real property interests set forth in any reciprocal easement agreements
of the Company or any Restricted Subsidiary;

 

(14)   
Indebtedness or other contractual requirements of a Receivables Subsidiary in connection with a Qualified Receivables Transaction;
provided that such restrictions apply only to such Receivables Subsidiary;

 

(15)   
contracts entered into in the ordinary course of business, not relating to any Indebtedness, and that do not, individually
or in the aggregate, detract from the value of property or assets of the Company or any Restricted Subsidiary of the Company in any manner
material to the Company or any Restricted Subsidiary of the Company;

 

(16)   
restrictions on the transfer of property or assets required by any regulatory authority having jurisdiction over the Company
or any Restricted Subsidiary of the Company or any of their businesses;

 

(17)   
any instrument or agreement governing Indebtedness or preferred stock (i) of any Non-Guarantor Subsidiary and (ii) of the
Company or any Restricted Subsidiary that is incurred or issued subsequent to the Issue Date and not in violation of Section 4.09 of this
Indenture; provided that (x) in the case of preferred stock and Indebtedness that is not secured by any Permitted Liens, such encumbrances
and restrictions are not materially more restrictive in the aggregate than the restrictions contained in this Indenture and (y) in the
case of Indebtedness secured by Permitted Liens, are not materially more restrictive in the aggregate than the restrictions contained
in the Credit Agreement; and

 

(18)   
any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings
of the Indebtedness, preferred stock, Liens, agreements, contracts, licenses, leases, subleases, instruments or obligations referred to
in clauses (1), (2), (4) through (15) and (17) above; provided, however, that such amendments, modifications, restatements, renewals,
increases, supplements, refundings, replacements or refinancings are in the good faith judgment of the Company’s Board of Directors,
whose determination shall be conclusive, not materially more restrictive, taken as a whole, than those restrictions contained in the Indebtedness,
preferred stock, Liens, agreements, contracts, licenses, leases, subleases, instruments or obligations referred to in clauses (1), (2),
(4) through (15) and (17) above, as applicable prior to such amendment, modification, restatement, renewal, increase, supplement, refunding,
replacement or refinancing.

 

Section 4.09              
Incurrence of Indebtedness and Issuance of Disqualified Stock.

 

(a)                
The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur,
issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively,
 “incur”) any Indebtedness (including Acquired Debt), and the Company will not issue any Disqualified Stock and will
not permit any of its Restricted Subsidiaries to issue any shares of preferred stock; provided, however, that the Company or any
Restricted Subsidiary may incur Indebtedness (including Acquired Debt) or issue Disqualified Stock or preferred stock, if the Fixed Charge
Coverage Ratio for the Company’s most recently ended four full fiscal quarters for which internal financial statements are available
immediately preceding the date on which such additional Indebtedness is incurred or such Disqualified Stock or such preferred stock is
issued, as the case may be, would have been at least 2.0 to 1.0, determined on a pro forma basis (including a pro forma application of
the net proceeds therefrom), as if the additional Indebtedness had been incurred or the Disqualified Stock or the preferred stock had
been issued, as the case may be, at the beginning of such four-quarter period; provided, further, that the aggregate principal
amount of Indebtedness incurred by Restricted Subsidiaries that are not Subsidiary Guarantors pursuant to this paragraph shall not exceed
$10.0 million.

 

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(b)               
Section 4.09(a) of this Indenture will not prohibit the incurrence of any of the following items of Indebtedness or the
issuance of any of the following items of Disqualified Stock or preferred stock (collectively, “Permitted Debt”):

 

(1)      
 the incurrence by the Company and/or any Subsidiary Guarantor (and the Subsidiary Guarantee thereof by the Subsidiary Guarantors)
of Indebtedness under the Credit Agreement and other Debt Facilities entered into after the Issue Date in an aggregate principal amount
at any one time outstanding under this clause (1) (with letters of credit being deemed to have a principal amount equal to the maximum
potential liability of the Company and its Restricted Subsidiaries thereunder) not to exceed (except as permitted by the definition of
 “Permitted Refinancing Indebtedness”) the sum of (i) $1.25 billion and (ii) any additional amount so long as, in the case
of this subclause (ii), after giving effect thereto the Secured Net Leverage Ratio (treating all incurred Indebtedness under this clause
(1) as secured by Liens on the assets of the Company) would not exceed 3.00 to 1.00;

 

(2)      
the incurrence by the Company and its Restricted Subsidiaries of the Existing Indebtedness, including the Existing Notes
and the related Guarantees;

 

(3)      
the incurrence by the Company and the Subsidiary Guarantors of Indebtedness represented by the Notes and the related Subsidiary
Guarantees;

 

(4)      
the incurrence or issuance by the Company or any of its Restricted Subsidiaries of Indebtedness (including Capital Lease
Obligations), Disqualified Stock or preferred stock, in each case, incurred or issued for the purpose of financing all or any part of
the purchase price or cost of design, construction, lease, installation or improvement of any fixed or capital assets and any Indebtedness
assumed by the Company or any of its Restricted Subsidiaries in connection with the acquisition of any such assets or secured by a Lien
on any such assets prior to the acquisition thereof, in an aggregate principal amount, including all Permitted Refinancing Indebtedness
(except as permitted by the definition of “Permitted Refinancing Indebtedness”) and Replacement Preferred Stock (except as
permitted by the definition of “Replacement Preferred Stock”) incurred to renew, refund, refinance, replace, defease or discharge
any Indebtedness incurred pursuant to this clause (4), not to exceed the greater of (a) $30.0 million and (b) 2.5% of Total Assets and
at any time outstanding;

 

(5)      
the incurrence by the Company or any of its Restricted Subsidiaries of Permitted Refinancing Indebtedness or Replacement
Preferred Stock in exchange for, or the net proceeds of which are used to renew, refund, refinance, replace, defease or discharge any
Indebtedness (other than intercompany Indebtedness) or any Disqualified Stock or preferred stock that was permitted by this Indenture
to be incurred under Section 4.09(a) of this Indenture or clauses (2), (3), (4), (5), (13), (15) or (18) of this Section 4.09(b);

 

(6)      
the incurrence by the Company or any of its Restricted Subsidiaries of intercompany Indebtedness between or among the Company
and any of its Restricted Subsidiaries; provided, however, that:

 

(A)              
if the Company or any Subsidiary Guarantor is the obligor on such Indebtedness and the payee is not the Company or a Subsidiary
Guarantor, such Indebtedness must be expressly subordinated to the prior payment in full in cash of all Obligations with respect to the
Notes, in the case of the Company or the Subsidiary Guarantee, in the case of a Subsidiary Guarantor, except to the extent such subordination
would violate any applicable law, rule or regulation; and

 

(B)              
(i) any subsequent issuance or transfer of Equity Interests that results in any such Indebtedness being held by a Person
other than the Company or a Restricted Subsidiary of the Company and (ii) any sale or other transfer of any such Indebtedness to a Person
that is not either the Company or a Restricted Subsidiary of the Company, will be deemed, in each case, to constitute a new incurrence
of such Indebtedness by the Company or such Restricted Subsidiary, as the case may be, which new incurrence is not permitted by this clause
(6);

 

    -47-

     

    

 

(7)      
the issuance by any of the Company’s Restricted Subsidiaries to the Company or to any of its Restricted Subsidiaries
of shares of preferred stock; provided, however, that:

 

(A)              
 any subsequent issuance or transfer of Equity Interests that results in any such preferred stock being held by a Person
other than the Company or a Restricted Subsidiary of the Company; and

 

(B)              
any sale or other transfer of any such preferred stock to a Person that is not either the Company or a Restricted Subsidiary
of the Company,

 

will be deemed, in each case, to constitute a new issuance of such
preferred stock by such Restricted Subsidiary which new issuance is not permitted by this clause (7);

 

(8)      
the incurrence by the Company or any of its Restricted Subsidiaries of Hedging Obligations in the ordinary course of business
and not for speculative purposes;

 

(9)      
the guarantee:

 

(A)              
by the Company or any of the Subsidiary Guarantors of Indebtedness of the Company or a Restricted Subsidiary of the Company
that was permitted to be incurred by another provision of this Section 4.09; provided that if the Indebtedness being guaranteed
is subordinated to the Notes, then the guarantee shall be subordinated to the same extent as the Indebtedness guaranteed; and

 

(B)              
by any Non-Guarantor Subsidiary of Indebtedness of a Non-Guarantor Subsidiary;

 

(10)   
the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness in respect of workers’ compensation
claims, self-insurance obligations, bankers’ acceptances, letters of credit, performance bonds, surety bonds, appeal bonds or other
similar bonds in the ordinary course of business; provided, however, that upon the drawing of letters of credit for reimbursement
obligations, including with respect to workers’ compensation claims, or the incurrence of other Indebtedness with respect to reimbursement
type obligations regarding workers’ compensation claims, such obligations are reimbursed within 30 days following such drawing or
incurrence;

 

(11)   
the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness arising from the honoring by a bank
or other financial institution of a check, draft or similar instrument inadvertently (except in the case of daylight overdrafts) drawn
against insufficient funds in the ordinary course of business, so long as such Indebtedness is extinguished within five Business Days;

 

(12)   
the incurrence of Indebtedness arising from agreements of the Company or a Restricted Subsidiary providing for indemnification,
adjustment of purchase price, holdback, contingency payment obligations or similar obligations, in each case, incurred or assumed in connection
with the disposition or acquisition of any business, assets or Capital Stock of the Company or any Restricted Subsidiary;

 

(13)   
the incurrence of Indebtedness or the issuance of any Disqualified Stock or preferred stock by any Non-Guarantor Subsidiary
in an aggregate principal amount, including all Permitted Refinancing Indebtedness (except as permitted by the definition of “Permitted
Refinancing Indebtedness”) and Replacement Preferred Stock (except as permitted by the definition of “Replacement Preferred
Stock”) incurred to renew, refund, refinance, replace, defease or discharge any Indebtedness incurred pursuant to this clause (13),
not to exceed $20.0 million at any time outstanding;

 

(14)   
the incurrence of Indebtedness resulting from endorsements of negotiable instruments for collection in the ordinary course
of business;

 

    -48-

     

    

 

(15)   
Indebtedness, Disqualified Stock or preferred stock of Persons that are acquired by the Company or any Restricted Subsidiary
(including by way of merger or consolidation) in accordance with the terms of this Indenture; and Indebtedness, Disqualified Stock or
preferred stock of the Company or a Subsidiary Guarantor incurred in connection with, or to provide
all or a portion of the funds or credit support utilized to consummate, the transaction or series of related transactions pursuant to
which such Person became a Subsidiary or was acquired by the Company; provided that after giving effect to such acquisition, merger
or consolidation, either

 

(A)              
the Company would be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage
Ratio test set forth in Section 4.09(a) of this Indenture or

 

(B)              
the Company’s Fixed Charge Coverage Ratio after giving pro forma effect to such acquisition, merger or consolidation
would be greater than the Company’s actual Fixed Charge Coverage Ratio immediately prior to such acquisition, merger or consolidation;

 

(16)   
Indebtedness of the Company or a Restricted Subsidiary in respect of netting services, overdraft protection and otherwise
in connection with deposit accounts; provided that such Indebtedness remains outstanding for ten Business Days or less;

 

(17)   
the incurrence by a Receivables Subsidiary of Indebtedness in a Qualified Receivables Transaction;

 

(18)   
the incurrence or issuance by the Company or any of its Restricted Subsidiaries of additional Indebtedness, Disqualified
Stock or preferred stock in an aggregate principal amount (or accreted value or liquidation preference, as applicable) at any time outstanding,
including all Permitted Refinancing Indebtedness (except as permitted by the definition of “Permitted Refinancing Indebtedness”)
and all Replacement Preferred Stock (except as permitted by the definition of “Replacement Preferred Stock”) incurred to renew,
refund, refinance, replace, defease or discharge any Indebtedness, Disqualified Stock and preferred stock incurred or issued pursuant
to this clause (18), not to exceed the greater of (A) $90.0 million and (B) 7.5% of Total Assets at any time outstanding;

 

(19)   
the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness in the form of loans from a Captive
Insurance Subsidiary;

 

(20)   
Indebtedness representing deferred compensation to employees of the Company and its Restricted Subsidiaries incurred in
the ordinary course of business; and

 

(21)   
Indebtedness in respect of promissory notes issued to consultants, employees or directors or former employees, consultants
or directors in connection with repurchases of Equity Interests permitted by Section 4.07(c)(7) of this Indenture.

 

For purposes of determining compliance with this Section 4.09, in the
event that an item of Indebtedness (or any portion thereof) at any time, whether at the time of incurrence or upon the application of
all or a portion of the proceeds thereof or subsequently meets the criteria of more than one of the categories of Permitted Debt described
in clauses (1) through (21) above, or is entitled to be incurred pursuant to Section 4.09(a) of this Indenture, the Company will be permitted
to classify such item of Indebtedness on the date of its incurrence, or later reclassify all or a portion of such item of Indebtedness,
in any manner that complies with this Section 4.09 except that Indebtedness under the Credit Agreement outstanding on the Issue Date will
be deemed to have been incurred in reliance on the exception provided by Section 4.09(b)(1) of this Indenture. The accrual of interest,
the accretion or amortization of original issue discount, the payment of interest on any Indebtedness in the form of additional Indebtedness
with the same terms, the reclassification of preferred stock as Indebtedness due to a change in accounting principles, and the payment
of dividends on Disqualified Stock or preferred stock in the form of additional shares of the same class of Disqualified Stock or preferred
stock will not be deemed to be an incurrence of Indebtedness or an issuance of Disqualified Stock or preferred stock for purposes of this
Section 4.09; provided in each such case, that the amount thereof is included in Fixed Charges of the Company as accrued (other
than the reclassification of preferred stock as Indebtedness due to a change in accounting principles).

 

    -49-

     

    

 

For purposes of determining compliance with any dollar-denominated
restriction on the incurrence of Indebtedness, the dollar-equivalent principal amount of Indebtedness denominated in a foreign currency
shall be calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was incurred, in the case of
term debt, or first committed, in the case of revolving credit debt; provided that if such Indebtedness is incurred to extend,
replace, refund, refinance, renew or defease other Indebtedness denominated in a foreign currency, and such extension, replacement, refunding,
refinancing, renewal or defeasance would cause the applicable dollar-denominated restriction to be exceeded if calculated at the relevant
currency exchange rate in effect on the date of such extension, replacement, refunding, refinancing, renewal or defeasance, such dollar-denominated
restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing Indebtedness does not exceed
the principal amount of such Indebtedness being extended, replaced, refunded, refinanced, renewed or defeased, plus the aggregate
amount of fees, underwriting discounts, premiums (including tender premiums) and other costs and expenses (including original issue discount)
incurred in connection with such refinancing.

 

The amount of any Indebtedness outstanding as of
any date will be:

 

(1)      
the accreted value of the Indebtedness, in the case of any Indebtedness issued with original issue discount;

 

(2)      
the principal amount of the Indebtedness, in the case of any other Indebtedness; and

 

(3)      
in respect of Indebtedness of another Person secured by a Lien on the assets of the specified Person, the lesser of:

 

(A)              
the Fair Market Value of such assets at the date of determination; and

 

(B)              
the amount of the Indebtedness of the other Person.

 

Section 4.10              
Asset Sales.

 

(a)                
The Company will not, and will not permit any of its Restricted Subsidiaries to, consummate an Asset Sale unless:

 

(1)      
the Company (or the Restricted Subsidiary, as the case may be) receives consideration at the time of the Asset Sale at least
equal to the Fair Market Value of the assets or Equity Interests issued or sold or otherwise disposed of; and

 

(2)      
at least 75% of the consideration received in the Asset Sale by the Company or such Restricted Subsidiary is in the form
of cash. For purposes of this clause (2), each of the following will be deemed to be cash:

 

(A)              
Cash Equivalents;

 

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

 

(C)              
any securities, notes or other obligations received by the Company or any such Restricted Subsidiary from such transferee
that are converted by the Company or such Restricted Subsidiary into cash within 180 days of receipt, to the extent of the cash received
in that conversion;

 

    -50-

     

    

 

(D)              
 any Designated Noncash Consideration the Fair Market Value of which, when taken together with all other Designated Noncash
Consideration received pursuant to this clause (D) (and not subsequently converted into Cash Equivalents that are treated as Net Proceeds
of an Asset Sale), does not exceed $25.0 million since the Issue Date, with the Fair Market Value of each item of Designated Noncash Consideration
being measured at the time received and without giving effect to subsequent changes in value; and

 

(E)               
any stock or assets of the kind referred to in clauses (2) or (4) of Section 4.10(b) of this Indenture.

 

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

 

(1)      
to repay Indebtedness outstanding pursuant to Section 4.09(b)(1) of this Indenture and, if the Indebtedness repaid is revolving
credit Indebtedness, to correspondingly reduce commitments with respect thereto;

 

(2)       
to acquire all or substantially all of the assets of, or any Capital Stock of, another Permitted Business, if, after giving
effect to any such acquisition of Capital Stock, the Permitted Business is or becomes a Restricted Subsidiary of the Company or additional
Capital Stock of an existing non-Wholly Owned Subsidiary which is a Restricted Subsidiary;

 

(3)      
to make a capital expenditure with respect to a Permitted Business or to make expenditures for maintenance, repair or improvement
of existing properties and assets;

 

(4)      
to acquire Additional Assets;

 

(5)      
to repay (i) Notes or (ii) any other Indebtedness (other than Indebtedness owing to the Company or a Restricted Subsidiary)
that is pari passu in right of payment with the Notes, and in the case of revolving Indebtedness, to correspondingly reduce commitments
with respect thereto; provided that if the Company or any of its Restricted Subsidiaries shall so repay any Indebtedness other
than the Notes, the Company will repay the Notes on a pro rata basis by, at its option, (A) redeeming Notes pursuant to Section 3.07 of
this Indenture or (B) purchasing Notes through open-market purchases, at a price equal to or higher than 100% of the principal
amount thereof, or making an offer (in accordance with the procedures set forth below) to all holders to purchase their Notes on a ratable
basis with such other Indebtedness for no less than 100% of the principal amount thereof, plus the amount of accrued but unpaid
interest, if any, thereon up to the principal amount of Notes to be repurchased; or

 

(6)      
any combination of the foregoing;

 

provided that the requirements of clauses (2) through (4) above
shall be deemed to be satisfied if an agreement (including a lease, whether a capital lease or an operating lease) committing to make
the acquisitions or expenditures referred to in any of clauses (2) through (4) above is entered into by the Company or its Restricted
Subsidiary within 365 days after the receipt of such Net Proceeds and such Net Proceeds are applied in accordance with such agreement;
provided, further, that (x) such acquisition or investment is then consummated within 545 days after the receipt of such
Net Proceeds and (y) if such acquisition or investment is not consummated within the period set forth in sub clause (x), or otherwise
applied as set forth in clauses (1) or (5) above, the Net Proceeds not so applied will be deemed to constitute Excess Proceeds under Section
4.10(c) of this Indenture.

 

Pending the final application of any Net Proceeds,
the Company may temporarily reduce revolving credit borrowings or otherwise invest the Net Proceeds in any manner that is not prohibited
by this Indenture.

 

    -51-

     

    

 

Notwithstanding the foregoing, to the extent
a distribution of any or all of the Net Proceeds of any Asset Sales by a Foreign Subsidiary to the Company or another Restricted
Subsidiary (i) is (x) prohibited or delayed by applicable local law, (y) restricted by applicable organizational documents or any
agreement or (z) subject to other organizational or administrative impediments from being repatriated to the United States or (ii)
would have a material adverse tax consequence, as reasonably determined by the Company, the portion of such Net Proceeds so affected
will not be required to be applied in compliance with this Section 4.10; provided that if at any time within one year
following the date on which such affected Net Proceeds would otherwise have been required to be applied pursuant to this Section
4.10, distribution of any of such affected Net Proceeds is no longer prohibited or delayed by applicable local law, restricted by
any applicable organizational document or agreement, subject to other organizational or administrative impediment from being
repatriated to the United States, and would not result in a material adverse tax consequence, then an amount equal to such amount of
Net Proceeds so permitted to be repatriated will be promptly applied (net of any taxes, costs or expenses that would be payable or
reserved against if such amounts were actually repatriated, whether or not they are repatriated) in compliance with this Section
4.10. The non-application of any prepayment amounts as a consequence of the foregoing provisions will not, for the avoidance of
doubt, constitute a Default or an Event of Default. For the avoidance of doubt, nothing in this Indenture shall be construed to
require the Company or any Foreign Subsidiary to repatriate cash or to apply any Net Proceeds described in clause (i) above in
compliance with this Section 4.10 in the event that such repatriation is not permitted under applicable local law, applicable
organizational documents or agreements or other impediment within one year following the date on which the respective payment would
otherwise have been required.

 

(c)                
Any Net Proceeds from Asset Sales received since the Issue Date that were not or are not applied or invested as provided
in Section 4.10(b) of this Indenture shall constitute “Excess Proceeds.” When the aggregate amount of Excess Proceeds
exceeds $20.0 million, within ten Business Days thereof, the Company will make an offer (an “Asset Sale Offer”) to
all Holders and if the Company elects (or is required by the terms of such other pari passu Indebtedness), any holders of other Indebtedness
that is pari passu in right of payment with the Notes. The offer price in any Asset Sale Offer will be equal to 100% of the principal
amount plus accrued and unpaid interest, if any to, but excluding, the date of purchase, and will be payable in cash. If any Excess
Proceeds remain after consummation of an Asset Sale Offer, the Company may use those Excess Proceeds for any purpose not otherwise prohibited
by this Indenture. If the aggregate principal amount of Notes and such other pari passu Indebtedness tendered into such Asset Sale Offer
exceeds the amount of Excess Proceeds, the Notes and such other pari passu Indebtedness will be purchased on a pro rata basis. Upon completion
of each Asset Sale Offer, the amount of Excess Proceeds will be reset at zero.

 

(d)               
The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations
thereunder to the extent those laws and regulations are applicable in connection with each repurchase of Notes pursuant to an Asset Sale
Offer. To the extent that the provisions of any securities laws or regulations conflict with the provisions of this Section 4.10, the
Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under
this Section 4.10 by virtue of such compliance.

 

Section 4.11              
Transactions with Affiliates.

 

(a)                
The Company will not, and will not permit any of its Restricted Subsidiaries to, make any payment to, or sell, lease, transfer
or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend any
transaction, contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate of the Company
involving aggregate consideration in excess of $5.0 million for any individual transaction or series of related transactions (each, an
 “Affiliate Transaction”), unless:

 

(1)      
the Affiliate Transaction is on terms that, taken as a whole, are not materially less favorable to the Company or the relevant
Restricted Subsidiary than those that would have been obtained in a comparable transaction by the Company or such Restricted Subsidiary
with an unrelated Person; and

 

(2)      
with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration
in excess of $25.0 million, the Company delivers to the Trustee an Officers’ Certificate certifying that such Affiliate Transaction
complies with this Section 4.11(a) and that such Affiliate Transaction has been approved by a majority of the disinterested members of
the Board of Directors of the Company, together with a certified copy of the resolutions of the Board of Directors of the Company approving
such Affiliate Transaction or Affiliate Transactions.

 

    -52-

     

    

 

(b)               
 The following items will not be deemed to be Affiliate Transactions and, therefore, will not be subject to the provisions
of Section 4.11(a) of this Indenture:

 

(1)      
any employment agreement, change of control agreement, severance agreement, employee benefit plan, officer or director indemnification
agreement or any similar arrangement entered into by the Company or any of its Restricted Subsidiaries in the ordinary course of business
and payments pursuant thereto;

 

(2)      
transactions between or among the Company, its Restricted Subsidiaries and/or any entity that becomes a Restricted Subsidiary
as a result of such transaction;

 

(3)       
transactions with a Person (other than an Unrestricted Subsidiary of the Company) that is an Affiliate of the Company solely
because the Company owns, directly or through a Restricted Subsidiary, an Equity Interest in, or controls, such Person;

 

(4)      
payment of reasonable directors’ fees;

 

(5)      
any issuance of Equity Interests (other than Disqualified Stock) of the Company to Affiliates of the Company;

 

(6)      
Permitted Investments or Restricted Payments that do not violate Section 4.07 of this Indenture;

 

(7)      
loans (or cancellation of loans) or advances to employees in the ordinary course of business;

 

(8)      
transactions with customers, suppliers, contractors, joint venture partners or purchasers or sellers of goods or services,
in each case which are in the ordinary course of business (including, without limitation, pursuant to joint venture agreements) and otherwise
in compliance with the terms of this Indenture;

 

(9)      
any Qualified Receivables Transaction;

 

(10)   
the entering into of any tax sharing agreement or arrangement or any tax receivable agreement with Parent or any Parent
Company and any Permitted Payments to Parent made pursuant thereto;

 

(11)   
any management, consulting, monitoring, financial advisory, financing, underwriting or placement services or any other investment
banking, banking or similar services involving the Company and any of its Restricted Subsidiaries (including without limitation any payments
in cash, Equity Interests or other consideration made by the Company or any of its Restricted Subsidiaries in connection therewith) on
the one hand and the Permitted Holders on the other hand, which services (and payments and other transactions in connection therewith)
are approved as fair to the Company or such Restricted Subsidiary by a majority of the disinterested members of the Board of Directors
of the Company in good faith;

 

(12)   
the issuance of Equity Interests (other than Disqualified Stock) in the Company or any Restricted Subsidiary for compensation
purposes;

 

(13)   
any lease entered into between the Company or any Restricted Subsidiary, as lessee and any Affiliate of the Company, as
lessor, which is approved by a majority of the disinterested members of the Board of Directors of the Company in good faith;

 

(14)   
intellectual property licenses in the ordinary course of business;

 

    -53-

     

    

 

(15)   
 Existing Indebtedness and any other obligations pursuant to an agreement existing on the Issue Date and described in the
Offering Memorandum, including any amendment thereto (so long as such amendment is not disadvantageous to the Holders in any material
respect);

 

(16)   
payments by the Company or any of its Restricted Subsidiaries of reasonable insurance premiums to, and any borrowings or
dividends received from, any Captive Insurance Subsidiary;

 

(17)   
transactions in which the Company or any Restricted Subsidiary delivers to the Trustee a letter from an accounting, appraisal
or investment banking firm of national standing stating that such transaction is fair to the Company or such Restricted Subsidiary from
a financial point of view and which are approved by a majority of the disinterested members of the Board of Directors of the Company in
good faith; and

 

(18)   
any customary management services agreements or similar agreements between the Company or any of its Subsidiaries and any
joint venture.

 

Section 4.12              
Liens.

 

The Company will not, and will not permit any of
its Restricted Subsidiaries to create, incur, assume or otherwise cause or suffer to exist or become effective any Lien of any kind (other
than Permitted Liens) securing Indebtedness upon any of their property or assets, whether owned on the Issue Date or thereafter acquired,
unless all payments due under this Indenture, the Notes and the Subsidiary Guarantees are secured on an equal and ratable basis with the
obligations so secured until such time as such obligations are no longer secured by a Lien.

 

Section 4.13              
Effectiveness of Covenants.

 

(a)       From
and after the occurrence of an Investment Grade Rating Event (such date, a “Suspension Date”), the Company and its
Restricted Subsidiaries will not be subject to Section 4.07, Section 4.08, Section 4.09, Section 4.10, Section 4.11, Section 4.16, Section
4.17 (but only with respect to any Person that is required to become a Subsidiary Guarantor after the date of the commencement of the
applicable Suspension Date) and Section 5.01(a)(4) of this Indenture (collectively, the “Suspended Covenants”).

 

(b)       If at
any date (each such date, a “Reversion Date”), the credit rating of the Notes is downgraded from an Investment Grade
Rating by two Rating Agencies, then the Suspended Covenants will thereafter be reinstated and again be applicable pursuant to the terms
of this Indenture, unless and until the occurrence of a subsequent Investment Grade Rating Event.

 

(c)       The
period of time between the occurrence of an Investment Grade Rating Event and its respective Reversion Date is referred to herein as the
 “Suspension Period.” Calculations made after a Reversion Date of the amount available to be made as Restricted Payments
pursuant to Section 4.07 of this Indenture will be made as though Section 4.07 of this Indenture had been in effect at all times since
the Issue Date, including during any Suspension Period. Any Indebtedness incurred during any Suspension Period would be deemed to be Permitted
Indebtedness subsequent to the Reversion Date. Neither the failure of the Company or any of its Subsidiaries to comply with a Suspended
Covenant during any Suspension Period nor compliance by the Company or any of its Subsidiaries with any contractual obligation entered
into in compliance with this Indenture during any Suspension Period will constitute a Default, Event of Default or breach of any kind
under this Indenture or the Notes.

 

(d)       During
any Suspension Period, the Company may not designate any of its Subsidiaries as Unrestricted Subsidiaries. Additionally, during any Suspension
Period, the Holders will be entitled to substantially reduced covenant protection. However, the Company and its Restricted Subsidiaries
will remain subject to all other covenants in this Indenture during any such time, including Section 4.15 of this Indenture.

 

    -54-

     

    

 

Section 4.14              
Corporate Existence.

 

Subject to Article 5, the Company shall do or
cause to be done all things necessary to preserve and keep in full force and effect (1) its limited liability company existence and
the corporate, partnership, limited liability company or other existence of each of its Restricted Subsidiaries, Parent and
AdaptHealth Intermediate, in accordance with the respective organizational documents (as the same may be amended from time to time)
of the Company, any such Restricted Subsidiary, Parent or AdaptHealth Intermediate and (2) the rights (charter and statutory),
licenses and franchises of the Company and its Restricted Subsidiaries, Parent or AdaptHealth Intermediate; provided that the
Company shall not be required to preserve any such right, license or franchise, or the corporate, partnership, limited liability
company or other existence of any of its Restricted Subsidiaries, Parent or AdaptHealth Intermediate, if the Company in good faith
shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and its
Restricted Subsidiaries, taken as a whole.

 

Section 4.15              
Offer to Repurchase Upon a Change of Control.

 

(a)                
If a Change of Control occurs, each Holder will have the right to require the Company to repurchase all or any part (equal
to $2,000 or an integral multiple of $1,000) of that Holder’s Notes pursuant to an offer made by the Company (the “Change
of Control Offer”). In the Change of Control Offer, the Company will offer to make a payment (the “Change of Control
Payment”) in cash equal to 101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest,
if any, on the Notes repurchased to, but excluding, the date of purchase, subject to the rights of Holders on the relevant Record Date
to receive interest due on the relevant Interest Payment Date. Within 30 days following any Change of Control, the Company will transmit
a notice to each Holder describing the transaction or transactions that constitute the Change of Control and offering to repurchase Notes
on the date specified in such notice (the “Change of Control Payment Date”), which date will be no earlier than 30
days and no later than 60 days from the date such notice is transmitted, pursuant to the procedures required by this Indenture and described
in such notice. The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations
thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change
of Control. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control provisions of
this Indenture, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its
obligations under this Section 4.15 by virtue of such compliance.

 

(b)               
On the Change of Control Payment Date, the Company will, to the extent lawful:

 

(1)      
accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer;

 

(2)      
deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes
properly tendered; and

 

(3)      
deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officers’ Certificate
stating the aggregate principal amount of Notes or portions of Notes being purchased by the Company.

 

The Paying Agent will promptly transmit to each Holder
properly tendered the Change of Control Payment for such Notes, and the Trustee will promptly authenticate and transmit (or cause to be
transferred by book entry) to each Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered, if
any. The Company will publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control
Payment Date.

 

(c)       If Holders
of not less than 90% in aggregate principal amount of the then outstanding Notes validly tender and do not withdraw such Notes in a Change
of Control Offer and the Company, or any third party making an offer to purchase the Notes upon a Change of Control in lieu of the Company,
purchases all of the Notes validly tendered and not withdrawn by such Holders, the Company shall have the right, upon not less than 30
nor more than 60 days’ prior written notice, given not more than 30 days following the Change of Control Payment Date, to redeem
all Notes that remain outstanding following such purchase at a redemption price in cash equal to 101% of the aggregate principal amount
of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased to, but excluding, the date of purchase,
subject to the rights of Holders on the relevant Record Date to receive interest due on the relevant Interest Payment Date.

 

    -55-

     

    

 

(d)       The
provisions described above in clauses (a) through (c) of this Section 4.15 that require the Company to make a Change of Control Offer
following a Change of Control will be applicable whether or not any other provisions of this Indenture are applicable. Except as described
above with respect to a Change of Control, this Indenture does not contain provisions that permit the Holders to require that the Company
repurchase or redeem the Notes in the event of a takeover, recapitalization or similar transaction.

 

(e)                
Notwithstanding anything to the contrary in this Section 4.15, the Company will not be required to make a Change of Control
Offer upon a Change of Control if (1) a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance
with the requirements set forth in this Indenture applicable to a Change of Control Offer made by the Company and purchases all Notes
properly tendered and not withdrawn under the Change of Control Offer or (2) notice of redemption has been given pursuant to this Indenture
in respect of all Notes pursuant to Section 3.07 of this Indenture, unless and until there is a Default in payment of the applicable redemption
price.

 

(f)                 
A Change of Control Offer may be made in advance of and conditioned on the occurrence of a Change of Control if there is
a definitive agreement in place to consummate a transaction that would constitute a Change of Control if consummated at the time such
Change of Control Offer is made.

 

Section 4.16              
Designation of Restricted and Unrestricted Subsidiaries.

 

The Board of Directors of the Company may designate
any Restricted Subsidiary to be an Unrestricted Subsidiary if no Default or Event of Default would be in existence following such designation.
If a Restricted Subsidiary is designated as an Unrestricted Subsidiary, the aggregate Fair Market Value of all outstanding Investments
owned by the Company and its Restricted Subsidiaries in the Subsidiary designated as an Unrestricted Subsidiary will be deemed to be an
Investment made as of the time of the designation and will reduce the amount available for Restricted Payments under Section 4.07 of this
Indenture or under one or more clauses of the definition of Permitted Investments, as determined by the Company. That designation will
only be permitted if the Investment would be permitted at that time and if the Restricted Subsidiary otherwise meets the definition of
an Unrestricted Subsidiary.

 

The Board of Directors of the Company may at any
time designate any Unrestricted Subsidiary to be a Restricted Subsidiary of the Company; provided that such designation will be
deemed to be an incurrence of Indebtedness by a Restricted Subsidiary of the Company of any outstanding Indebtedness of such Unrestricted
Subsidiary, and such designation will only be permitted if (a) such Indebtedness is permitted under Section 4.09 of this Indenture and
(b) no Default or Event of Default would be in existence following such designation.

 

Section 4.17              
Additional Subsidiary Guarantees.

 

If the Company or any of its Restricted Subsidiaries,
acquires or creates another Subsidiary, other than a Non-Guarantor Subsidiary or if any Non-Guarantor Subsidiary otherwise ceases to be
a Non-Guarantor Subsidiary, in each case, after the Issue Date, then such newly acquired or created Subsidiary or Subsidiary that has
ceased to be a Non-Guarantor Subsidiary, as applicable, will become a Subsidiary Guarantor and execute a supplemental indenture substantially
in the form attached as Exhibit C and deliver an Opinion of Counsel and Officers’ Certificate to the Trustee within 30 Business
Days of the date on which it was acquired or created or ceased to be a Non-Guarantor Subsidiary, as applicable.

 

Section 4.18              
Limitation on Activities of AdaptHealth Intermediate.

 

AdaptHealth Intermediate (a) will not make any Investments
(other than in (1) cash and Cash Equivalents or (2) Capital Stock of the Company), (b) will not create, incur, assume or permit to exist
any Lien on any of the Equity Interests in the Company held by AdaptHealth Intermediate and (c) will do or cause to be done all things
necessary to preserve, renew and keep in full force and effect its legal existence; provided that so long as no Default exists
or would result therefrom, AdaptHealth Intermediate may merge or consolidate with any other Person as described under Section 10 of this
Indenture.

 

    -56-

     

    

 

Article 5

 

SUCCESSORS

 

Section 5.01              
Merger, Consolidation or Sale of Assets.

 

(a)                
The Company will not, directly or indirectly: (1) consolidate or merge with or into another Person or consummate a Division
as the Dividing Person (whether or not the Company is the surviving Person); or (2) sell, assign, transfer, convey or otherwise dispose
of all or substantially all of the properties or assets of the Company and its Restricted Subsidiaries taken as a whole, in one or more
related transactions, to another Person, unless:

 

(1)      
either:

 

(A)              
the Company is the surviving entity; or

 

(B)              
the Person formed by or surviving any such consolidation, merger or Division (if other than the Company) or to which such
sale, assignment, transfer, conveyance or other disposition has been made is an entity 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, merger or Division (if other than the Company) or the Person to
which such sale, assignment, transfer, conveyance or other disposition has been made assumes all the obligations of the Company under
the Notes and this Indenture pursuant to agreements reasonably satisfactory to the Trustee;

 

(3)      
immediately after such transaction, no Event of Default exists; and

 

(4)      
the Company or the Person formed by or surviving any such consolidation, merger or Division (if other than the Company),
or to which such sale, assignment, transfer, conveyance or other disposition has been made would, on the date of such transaction after
giving pro forma effect thereto and any related financing transactions as if the same had occurred at the beginning of the applicable
four-quarter period;

 

(A)              
be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth
in Section 4.09(a) of this Indenture; or

 

(B)              
have a Fixed Charge Coverage Ratio that is greater than the actual Fixed Charge Coverage Ratio of the Company immediately
prior to such transaction.

 

(b)       The
Company will not, directly or indirectly, lease all or substantially all of the properties and assets of it and its Restricted Subsidiaries
taken as a whole, in one or more related transactions, to any other Person.

 

(c)                
Clauses (3) and (4) of Section 5.01(a) of this Indenture shall not apply to:

 

(1)      
a merger of the Company with an Affiliate solely for the purpose of reincorporating the Company in another jurisdiction;

 

(2)      
any consolidation or merger, or any sale, assignment, transfer, conveyance, lease or other disposition of assets between
or among the Company and its Restricted Subsidiaries or, so long as the Company is a surviving Person and any other surviving Person is
a Restricted Subsidiary of the Company, any Division of the Company as the Dividing Person; and

 

(3)      
 transfers of accounts receivable and related assets of the type specified in the definition of Qualified Receivables Transaction
(or a fractional undivided interest therein) by a Receivables Subsidiary in a Qualified Receivables Transaction.

 

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Section 5.02              
Successor Entity Substituted.

 

Upon any consolidation, merger, Division, sale,
assignment, conveyance, transfer, lease or other disposition of all or substantially all of the assets of the Company in accordance with
Section 5.01 of this Indenture or a Guarantor in accordance with Section 10.04 of this Indenture, the Company and a Guarantor, as the
case may be, will be released from its obligations under this Indenture and the Notes or its Guarantee, as the case may be, and the successor
Company and the successor Guarantor, as the case may be, will succeed to, and be substituted for, and may exercise every right and power
of, the Company or a Guarantor, as the case may be, under this Indenture, the Notes and such Guarantee; provided that, in the case
of a lease of all or substantially all its assets, the Company will not be released from the obligation to pay the principal of and interest
on the Notes and a Guarantor will not be released from its obligations under its Guarantee.

 

Article 6

DEFAULTS AND REMEDIES

 

Section 6.01              
Events of Default and Remedies.

 

Each of the following is an event of default (an
 “Event of Default”):

 

(1)      
default in any payment of interest on any Note when due, continued for 30 days;

 

(2)      
default in the payment of principal or premium, if any, on any Note when due at its Stated Maturity, upon optional redemption,
upon required repurchase, upon declaration or otherwise;

 

(3)      
failure by the Company or any of its Restricted Subsidiaries to comply with the provisions of Section 5.01 or 10.04 of this
Indenture;

 

(4)      
failure by the Company or any of its Restricted Subsidiaries for 60 days after notice to the Company by the Trustee or the
holders of at least 25% in aggregate principal amount of the Notes then outstanding voting as a single class to comply with any of the
other agreements in this Indenture;

 

(5)      
default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or
evidenced any Indebtedness for money borrowed by the Company or any of its Significant Subsidiaries (or the payment of which is guaranteed
by the Company or any of its Significant Subsidiaries), whether such Indebtedness or guarantee existed on the Issue Date, or is or was
created thereafter, if that default:

 

(A)              
is caused by a failure to pay principal at the final Stated Maturity of such Indebtedness (a “Payment Default”);
or

 

(B)              
results in the acceleration of such Indebtedness prior to its express maturity

 

and, in each case, the principal amount of such Indebtedness,
together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which
has been so accelerated, aggregates $25.0 million or more;

 

(6)      
with respect to any judgment or decree for the payment of money (net of any amount covered by insurance issued by a reputable
and creditworthy insurer that has not contested coverage or reserved rights with respect to an underlying claim) in excess of $25.0 million
or its foreign currency equivalent against the Company or any Significant Subsidiary of the Company, the failure by the Company or such
Significant Subsidiary, as applicable, to pay such judgment or decree, which judgment or decree has remained outstanding for a period of 60 days after such
judgment or decree became final and nonappealable without being paid, discharged, waived or stayed;

 

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(7)      
except as permitted by this Indenture, the Guarantee of AdaptHealth Intermediate or any Subsidiary Guarantee of any Significant
Subsidiary of the Company is declared to be unenforceable or invalid by any final and nonappealable judgment or decree or ceases for any
reason to be in full force and effect, or AdaptHealth Intermediate or any Subsidiary Guarantor that is a Significant Subsidiary of the
Company or any Person acting on behalf of AdaptHealth Intermediate or any Subsidiary Guarantor that is a Significant Subsidiary of the
Company, denies or disaffirms its obligations in writing under its Guarantee and such Default continues for ten days after receipt of
the notice specified in this Indenture;

 

(8)      
the Company, AdaptHealth Intermediate or any Restricted Subsidiary that is a Significant Subsidiary of the Company pursuant
to or within the meaning of Bankruptcy Law:

 

(A)              
commences a voluntary case,

 

(B)              
consents to the entry of an order for relief against it in an involuntary case,

 

(C)              
consents to the appointment of a custodian of it or for all or substantially all of its property,

 

(D)              
makes a general assignment for the benefit of its creditors, or

 

(E)               
generally is not paying its debts as they become due; and

 

(9)      
a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:

 

(A)              
is for relief against the Company or any of the Company’s Restricted Subsidiaries that is a Significant Subsidiary
of the Company in an involuntary case;

 

(B)              
appoints a custodian of the Company or any of the Company’s Restricted Subsidiaries that is a Significant Subsidiary
of the Company for all or substantially all of the property of the Company or any of the Company’s Restricted Subsidiaries that
is a Significant Subsidiary of the Company; or

 

(C)              
orders the liquidation of the Company or any of the Company’s Restricted Subsidiaries that is a Significant Subsidiary
of the Company,

 

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

 

Section 6.02              
Acceleration.

 

(a)                
In the case of an Event of Default arising under clauses (8) or (9) of Section 6.01 of this Indenture with respect to the Company,
AdaptHealth Intermediate or any Restricted Subsidiary that is a Significant Subsidiary of the Company, all outstanding Notes shall become
due and payable immediately without further action or notice. If any other Event of Default occurs and is continuing, the Trustee or the
Holders of at least 25% in aggregate principal amount of the then outstanding Notes may declare all the Notes to be due and payable immediately.

 

(b)               
The Holders of a majority in aggregate principal amount of the then outstanding Notes by written notice to the Trustee may, on
behalf of all of the Holders, rescind an acceleration or waive any existing Default or Event of Default and its consequences under this
Indenture except a continuing Default or Event of Default in the payment of interest or premium, if any, on, or the principal of, the
Notes.

 

Section 6.03              
Other Remedies.

 

(a)                
If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal,
premium, if any, and interest on the Notes or to enforce the performance of any provision of the Notes or this Indenture.

 

(b)               
The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding.
A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair
the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are cumulative to the extent permitted
by law.

 

Section 6.04              
Waiver of Past Defaults.

 

(a)                
Subject to certain limitations, Holders of a majority in aggregate 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 notice of any continuing Default or Event of Default
if it determines that withholding notice is in their interest, except a Default or Event of Default relating to the payment of principal,
interest or premium, if any.

 

(b)               
Subject to Section 7.01, in case an Event of Default occurs and is continuing, the Trustee will be under no obligation to exercise
any of the rights or powers under this Indenture at the request or direction of any Holders unless such Holders have offered to the Trustee
reasonable indemnity or security against any loss, liability or expense.

 

(c)                
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, rescind an acceleration or waive any existing Default or Event of Default and its consequences under
this Indenture except a continuing Default or Event of Default in the payment of interest or premium, if any, on, or the principal of,
the Notes.

 

Section 6.05              
Control by Majority.

 

Holders of a majority in principal amount of the
then outstanding Notes may direct the time, method and place of conducting any proceeding for exercising any remedy available to the Trustee
or exercising any trust or power conferred on it. However, the Trustee may refuse to follow any direction that conflicts with law or this
Indenture that the Trustee determines may be unduly prejudicial to the rights of other Holders or that may involve the Trustee in personal
liability. Prior to taking any action under this Indenture, the Trustee shall be entitled to reasonable indemnification against all losses
and expenses caused by taking or not taking such action.

 

Section 6.06              
Limitation on Suits.

 

Subject to Section 6.07 of this Indenture, no Holder
may pursue any remedy with respect to this Indenture or the Notes unless:

 

(1)      
such Holder has previously given the Trustee notice that an Event of Default is continuing;

 

(2)      
Holders of at least 25% in aggregate principal amount of the then outstanding Notes have requested the Trustee to pursue
the remedy;

 

(3)      
such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense;

 

(4)      
the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security
or indemnity; and

 

(5)      
Holders of a majority in aggregate principal amount of the then outstanding Notes have not given the Trustee a direction
inconsistent with such request within such 60-day period.

 

A Holder may not use this Indenture to prejudice
the rights of another Holder or to obtain a preference or priority over another Holder.

 

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Section 6.07         Rights
of Holders to Receive Payment.

 

Notwithstanding any other provision of this Indenture,
the right of any Holder to receive payment of principal, premium, if any, and interest on the Note, on or after the respective due dates
expressed in the Note (including in connection with an offer to purchase), or to bring suit for the enforcement of any such payment on
or after such respective dates, shall not be impaired or affected without the consent of such Holder.

 

Section 6.08         Collection
Suit by Trustee.

 

If an Event of Default specified in clauses (1) or
(2) of Section 6.01 of this Indenture occurs and is continuing, the Trustee is authorized to recover judgment in its own name and as trustee
of an express trust against the Company and each Guarantor for the whole amount of principal of, premium, if any, and interest remaining
unpaid on the Notes and interest on overdue principal and, to the extent lawful, interest and such further amount as shall be sufficient
to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel.

 

Section 6.09         Restoration of Rights and Remedies.

 

If the Trustee or any Holder has instituted any proceeding
to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been
determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceedings,
the Company, the Guarantors, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder
and thereafter and all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding has been instituted.

 

Section 6.10         Rights
and Remedies Cumulative.

 

Except as otherwise provided with respect to the
replacement or payment of mutilated, destroyed, lost or stolen Notes in Section 2.07 of this Indenture, no right or remedy herein conferred
upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy
are, to the extent permitted by law, 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 appropriate right or remedy.

 

Section 6.11         Delay
or Omission Not Waiver.

 

No delay or omission of the Trustee or of any Holder
to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any
such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders
may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be.

 

Section 6.12         Trustee
May File Proofs of Claim.

 

The Trustee may file proofs of claim and other
papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders allowed in any
judicial proceedings relative to the Company (or any other obligor upon the Notes, including the Guarantors), its creditors or its
property and is entitled and empowered to participate as a member in any official committee of creditors appointed in such matter
and to collect, receive and distribute any money or other property payable or deliverable on any such claims. Any custodian in any
such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee, and in the event that the Trustee
shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable
compensation, expenses, disbursements and advances of the Trustee and its agents and counsel, and any other amounts due the Trustee
under Section 7.06 of this Indenture. To the extent that the payment of any such compensation, expenses, disbursements and advances
of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.06 of this Indenture out of the estate
in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of,
any and all distributions, dividends, money, securities and other properties that the Holders may be entitled to receive in such
proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be
deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization,
arrangement, adjustment or composition affecting the Notes or the rights of any Holder, or to authorize the Trustee to vote in
respect of the claim of any Holder in any such proceeding.

 

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Section 6.13         Priorities.

 

If the Trustee collects any money or property pursuant
to this Article 6, it shall pay out the money in the following order:

 

(1)       to
the Trustee and its agents and attorneys for amounts due under Section 7.06 of this Indenture, including payment of all reasonable compensation,
expenses and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection;

 

(2)       to Holders for amounts due and unpaid on the Notes for principal, premium, if any, and interest ratably, without preference or
priority of any kind, according to the amounts due and payable on the Notes for principal, premium, if any, and interest, respectively;
and

 

(3)       to
the Company or to such party as a court of competent jurisdiction shall direct, including a Guarantor, if applicable.

 

The Trustee may fix a record date and payment date for any payment
to Holders pursuant to this Section 6.13. Promptly after any record date is set pursuant to this Section 6.13, the Trustee shall cause
notice of such record date and payment date to be given to the Company and to each Holder in the manner set forth in Section 12.02 of
this Indenture.

 

Section 6.14         Undertaking for Costs.

 

In any suit for the enforcement of any right or remedy
under this Indenture or in any suit against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion
may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion
may assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due
regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.14 does not apply to a suit by
the Trustee, a suit by a Holder pursuant to Section 6.07 of this Indenture, or a suit by Holders of more than 10% in principal amount
of the then outstanding Notes.

 

Article 7

TRUSTEE

 

Section 7.01         Duties of Trustee.

 

(a)              If an Event of Default has occurred and is continuing, the Trustee will exercise such of the rights and powers vested in
it by this Indenture, and use the same degree of care in its exercise, as a prudent person would exercise or use under the circumstances
in the conduct of such person’s own affairs.

 

(b)             Except
during the continuance of an Event of Default:

 

    -61-

     

    

 

(1)             the
duties of the Trustee shall be determined solely by the express provisions of this Indenture and the Trustee need perform only those
duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be read into this
Indenture against the Trustee; and

 

(2)            
in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture.
However, in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the
Trustee, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the requirements of this
Indenture (but need not confirm or investigate the accuracy or mathematical calculation or facts stated therein).

 

(c)              The
Trustee may not be relieved from liabilities for its own grossly negligent action, its own grossly negligent failure to act, or its own
willful misconduct, except that:

 

(1)       this paragraph does not limit the effect of paragraph (b) of this Section 7.01;

 

(2)       the
Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved in a court of
competent jurisdiction that the Trustee was grossly negligent in ascertaining the pertinent facts; and

 

(3)       the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a
direction received by it pursuant to Section 6.05 of this Indenture.

 

(d)             Whether
or not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs
(a), (b) and (c) of this Section 7.01.

 

(e)             Subject to this Article 7, if an Event of Default occurs and is continuing, the Trustee will be under no obligation
to exercise any of the rights or powers under this Indenture, the Notes and the Guarantees at the request or direction of any of the Holders
unless such Holders have offered to the Trustee indemnity or security satisfactory to it against any loss, liability or expense.

 

(f)              The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with
the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law.

 

Section 7.02         Rights
of Trustee.

 

(a)              The Trustee may conclusively rely upon and shall be fully protected in acting or refraining from acting upon any document
believed by it to be genuine and to have been signed or presented by the proper Person. The Trustee need not investigate any fact or matter
stated in the document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters
as it may see fit, and, if the Trustee shall determine in good faith to make such further inquiry or investigation, it shall be entitled
to examine the books, records and premises of the Company, personally or by agent or attorney at the sole cost of the Company and shall
incur no liability or additional liability of any kind by reason of such inquiry or investigation.

 

(b)             Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel
or both which shall conform to the provisions of Section 12.05 of this Indenture, except that no Opinion of Counsel will be required to
be furnished to the Trustee in connection with the authentication and delivery of the Initial Notes on the Issue Date. The Trustee shall
not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate or Opinion of Counsel.
The Trustee may consult with counsel of its selection and the advice of such counsel or any Opinion of Counsel shall be full and complete
authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance
thereon.

 

    -62-

     

    

 

(c)             The
Trustee may act through its attorneys and agents and shall not be responsible for the misconduct or negligence of any agent or attorney
appointed with due care.

 

(d)             The
Trustee shall not be liable for any action it takes or omits to take in good faith that it believes to be authorized or within the rights
or powers conferred upon it by this Indenture.

 

(e)             Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Company or a
Guarantor shall be sufficient if signed by an Officer of the Company or such Guarantor.

 

(f)              None
of the provisions of this Indenture shall require the Trustee to expend or risk its own funds or otherwise to incur any liability, financial
or otherwise, in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers if it shall have reasonable
grounds for believing that repayment of such funds or security or indemnity satisfactory to it against such risk or liability is not
assured to it.

 

(g)             The
Trustee shall not be deemed to have notice or knowledge of any Default or Event of Default unless written notice of any event which is
in fact such a Default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the existence
of a Default or Event of Default, the Notes and this Indenture.

 

(h)             In no event shall the Trustee be responsible or liable for special, indirect, punitive or consequential loss or damage of
any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood
of such loss or damage and regardless of the form of action.

 

(i)               The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right
to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian
and other Person employed to act hereunder.

 

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

 

(k)             The
Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder.

 

Section 7.03         Individual Rights of Trustee.

 

The Trustee or any Agent in its individual or any
other capacity may become the owner or pledgee of Notes and may otherwise deal with the Company or any Affiliate of the Company with the
same rights it would have if it were not Trustee or such Agent. However, in the event that the Trustee acquires any conflicting interest
it must eliminate such conflict within 90 days or resign. Any Agent may do the same with like rights and duties. The Trustee is also subject
to Sections 7.09 of this Indenture.

 

Section 7.04         Trustee’s Disclaimer.

 

The Trustee shall not be responsible for and makes
no representation as to the validity or adequacy of this Indenture or the Notes, it shall not be accountable for the Company’s use
of the proceeds from the Notes or any money paid to the Company or upon the Company’s direction under any provision of this Indenture,
it shall not be responsible for the use or application of any money received by any Paying Agent other than the Trustee, and it shall
not be responsible for any statement or recital herein or any statement in the Notes or any other document in connection with the sale
of the Notes or pursuant to this Indenture other than its certificate of authentication on the Notes.

 

    -63-

     

    

 

Section 7.05         Notice of Defaults.

 

If a Default occurs and is continuing and a Responsible
Officer of Trustee has received written notice thereof, the Trustee will transmit to each Holder a notice of the Default within 90 days
thereafter. Except in the case of an Event of Default specified in clauses (1) or (2) of Section 6.01 of this Indenture, the Trustee may
withhold from the Holders notice of any continuing Default if the Trustee determines in good faith that withholding the notice is in the
interest of the Holders.

 

Section 7.06        Compensation and Indemnity.

 

(a)              The Company and the Guarantors, jointly and severally, shall pay to the Trustee from time to time such compensation for
its acceptance of this Indenture and services hereunder as the parties shall agree in writing from time to time. The Trustee’s compensation
shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee promptly upon
request for all reasonable disbursements, advances and expenses incurred or made by it in addition to the compensation for its services,
except for any such disbursements, advances or expenses as shall have been caused by the Trustee’s willful misconduct, negligence
or bad faith. Such expenses shall include the reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel.
The Trustee shall provide the Company reasonable notice of any expenditure not in the ordinary course of business.

 

(b)              The Company and the Guarantors, jointly and severally, shall indemnify the Trustee for, and hold each of the Trustee and
any predecessor harmless against, any and all loss, damage, claims, liability or expense (including reasonable attorneys’ fees and
expenses) incurred by it in connection with the acceptance or administration of this trust and the performance of its duties hereunder
(including the reasonable costs and expenses of enforcing this Indenture against the Company or any Guarantor (including this Section 7.06)
or defending itself against any claim whether asserted by any Holder, the Company or any Guarantor, or liability in connection with the
acceptance, exercise or performance of any of its powers or duties hereunder). The Trustee shall notify the Company promptly of any claim
for which it may seek indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company of its obligations hereunder.
The Company shall defend the claim and the Trustee may have separate counsel and the Company shall pay the reasonable fees and expenses
of such counsel. Neither the Company nor any Guarantor needs to pay for any settlement made without its consent, which consent shall not
be unreasonably withheld. The Company need not reimburse any expense or indemnify against any loss, liability or expense incurred by the
Trustee through the Trustee’s own willful misconduct, gross negligence or bad faith.

 

(c)              The
obligations of the Company and the Guarantors under this Section 7.06 shall survive the satisfaction, discharge or termination of this
Indenture or the resignation or removal of the Trustee.

 

(d)              To
secure the payment obligations of the Company and the Guarantors in this Section 7.06, the Trustee shall have a Lien prior to the
Notes on all money or property held or collected by the Trustee, except that held in trust to pay principal and interest on particular
Notes. Such Lien shall survive the satisfaction and discharge of this Indenture.

 

(e)             When
the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(8) or (9) of this Indenture
occurs, the expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to
constitute expenses of administration under any Bankruptcy Law.

 

Section 7.07         Replacement of Trustee.

 

(a)             A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor
Trustee’s acceptance of appointment as provided in this Section 7.07. The Trustee may resign in writing at any time by giving 30
days’ prior notice of such resignation to the Company and be discharged from the trust hereby created by so notifying the Company.
The Holders of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee
and the Company in writing. The Company may remove the Trustee if:

 

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(1)       the
Trustee fails to comply with Section 7.09 of this Indenture;

 

(2)       the
Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;

 

(3)       a
receiver or public officer takes charge of the Trustee or its property; or

 

(4)       the
Trustee becomes incapable of acting.

 

(b)             If the Trustee resigns or is removed or if a vacancy exists in the office of the Trustee for any reason, the Company shall
promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate
principal amount of the then outstanding Notes may remove the successor Trustee to replace it with another successor Trustee appointed
by the Company.

 

(c)             If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring
Trustee (at the Company’s expense), the Company or the Holders of at least 10% in aggregate principal amount of the then outstanding
Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee.

 

(d)             If the Trustee, after written request by any Holder who has been a Holder for at least six months, fails to comply with
Section 7.09 of this Indenture, such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment
of a successor Trustee.

 

(e)             A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon,
the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers
and duties of the Trustee under this Indenture. The successor Trustee shall transmit a notice of its succession to Holders. The retiring
Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee; provided that all sums owing to the
Trustee hereunder have been paid and such transfer shall be subject to the Lien provided for in Section 7.06 of this Indenture. Notwithstanding
replacement of the Trustee pursuant to this Section 7.07, the Company’s obligations under this Section 7.07 shall continue for the
benefit of the retiring Trustee.

 

(f)              As
used in this Section 7.07, the term “Trustee” shall also include each Agent.

 

Section 7.08         Successor Trustee by Merger, etc.

 

If the Trustee consolidates, merges or converts into,
or transfers all or substantially all of its corporate trust business to, another corporation or national banking association, the successor
corporation or national banking association without any further act shall be the successor Trustee, subject to Section 7.09 of this Indenture.

 

Section 7.09         Eligibility;
Disqualification.

 

There shall at all times be a Trustee hereunder that
is a corporation or national banking association organized and doing business under the laws of the United States or of any state thereof
that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or examination by federal or state
authorities and that has a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report
of condition.

 

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Article 8

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

 

Section 8.01         Option to Effect Legal Defeasance or Covenant Defeasance.

 

The Company may, at its option and at any time, elect
to have either Section 8.02 of this Indenture or Section 8.03 of this Indenture applied to all outstanding Notes upon compliance with
the conditions set forth below in this Article 8.

 

Section 8.02        Legal
Defeasance and Discharge.

 

(a)             Upon the Company’s exercise under Section 8.01 of this Indenture of the option applicable to this Section 8.02, the
Company and the Guarantors shall, subject to the satisfaction of the conditions set forth in Section 8.04 of this Indenture, be deemed
to have been discharged from their obligations with respect to this Indenture, all outstanding Notes and Guarantees on the date the conditions
set forth below are satisfied (“Legal Defeasance”). For this purpose, Legal Defeasance means that the Company shall
be deemed to have paid and discharged the entire Indebtedness represented by the outstanding Notes, which shall thereafter be deemed to
be “outstanding” only for the purposes of Section 8.05 and the other Sections of this Indenture referred to in clauses (1)
through (4) below, and to have satisfied all of its other obligations under such Notes and this Indenture, including that of the Guarantors
(and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging the same), except for
the following provisions which shall survive until otherwise terminated or discharged hereunder:

 

(1)       the
rights of Holders to receive payments in respect of the principal, premium, if any, and interest on the Notes when such payments are
due, solely out of the trust created pursuant to this Indenture referred to in Section 8.04 of this Indenture;

 

(2)       the Company’s obligations with respect to the Notes concerning issuing the Temporary Notes, registration of Notes,
mutilated, destroyed, lost or stolen Notes and the maintenance of an office or agency for payment and money for Note payments held in
trust;

 

(3)       the
rights, powers, trusts, duties and immunities of the Trustee, and the Company’s and the Guarantors’ obligations in connection
therewith; and

 

(4)        this Section 8.02.

 

(b)             Subject
to compliance with this Article 8, the Company may exercise its option under this Section 8.02 notwithstanding the prior exercise of
its option under Section 8.03 of this Indenture.

 

Section 8.03        Covenant
Defeasance.

 

Upon the Company’s exercise under Section
8.01 of this Indenture of the option applicable to this Section 8.03, the Company and the Guarantors shall, subject to the
satisfaction of the conditions set forth in Section 8.04 of this Indenture, be released from their obligations under the covenants
contained in Sections 4.03, 4.04, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14, 4.15, 4.16, 4.17, 4.18 and clause (4) of
 ‎Section 5.01(a) of this Indenture with respect to the outstanding Notes, and the Guarantors shall be deemed to have been
discharged from their obligations with respect to all Guarantees, on and after the date the conditions set forth in
Section 8.04 of this Indenture are satisfied (“Covenant Defeasance”), and the Notes shall thereafter be
deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders (and the
consequences of any thereof) in connection with such covenants, but shall continue to be deemed “outstanding” for all
other purposes hereunder (it being understood that such Notes shall not be deemed outstanding for accounting purposes). For this
purpose, Covenant Defeasance means that, with respect to this Indenture and the outstanding Notes, the Company and the Guarantors
may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant,
whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in
any such covenant to any other provision herein or in any other document and such omission to comply shall not constitute a Default
or an Event of Default under Section 6.01 of this Indenture, but, except as specified above, the remainder of this Indenture, and
such Notes and the Guarantees shall be unaffected thereby. In addition, upon the Company’s exercise under Section 8.01 of
this Indenture of the option applicable to this Section 8.03 of this Indenture, subject to the satisfaction of the conditions
set forth in Section 8.04 of this Indenture, an Event of Default specified in Section 6.01(3) of this Indenture that
resulted solely from the failure of the Company to comply with clause (4) of Section 5.01(a), Sections 6.01(4) (only
with respect to covenants that are released as a result of such Covenant Defeasance), 6.01(5), 6.01(6), 6.01(7), 6.01(8) (solely
with respect to Significant Subsidiaries of the Company) and 6.01(9) (solely with respect to Significant Subsidiaries of the
Company) of this Indenture, in each case, shall not constitute an Event of Default.

 

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Section 8.04        Conditions
to Legal or Covenant Defeasance.

 

In order to exercise either Legal Defeasance or Covenant
Defeasance under either Section 8.02 or 8.03 of this Indenture:

 

(1)       the Company must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders, cash in U.S. dollars, non-callable
Government Securities, or a combination of cash in U.S. dollars and non-callable Government Securities, in amounts as will be sufficient,
in the opinion of a nationally recognized investment bank, appraisal firm or firm of independent public accountants, to pay the principal
of, or interest and premium, if any, on, the outstanding Notes on the stated date for payment thereof or on the applicable redemption
date, as the case may be, and the Company must specify whether the Notes are being defeased to such stated date for payment or to a particular
redemption date;

 

(2)       in the case of Legal Defeasance, the Company must deliver to the Trustee an Opinion of Counsel reasonably acceptable to
the Trustee confirming that (a) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or
(b) since the Issue Date, there has been a change in the applicable federal income tax law, in either case to the effect that, and based
thereon such Opinion of Counsel will confirm that, the beneficial owners of the outstanding Notes shall not recognize income, gain or
loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to federal income tax on the same amounts,
in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred;

 

(3)       in
the case of Covenant Defeasance, the Company must deliver to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee confirming
that the beneficial owners of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result
of such Covenant Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as
would have been the case if such Covenant Defeasance had not occurred;

 

(4)       such
Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under, any material agreement
(including, without limitation, the Credit Agreement) or instrument (other than this Indenture) to which the Company or any of its Subsidiaries
is a party or by which the Company or any of its Subsidiaries is bound;

 

(5)       the
Company must deliver to the Trustee an Officers’ Certificate stating that the deposit was not made by the Company with the intent
of preferring the Holders over the other creditors of the Company with the intent of defeating, hindering, delaying or defrauding any
creditors of the Company or others; and

 

(6)       the
Company must deliver to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent
relating to the Legal Defeasance or the Covenant Defeasance have been complied with

 

Section 8.05         Deposited
Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions.

 

(a)             Subject
to Section 8.06 of this Indenture, all money and Government Securities (including the proceeds thereof) deposited with the Trustee
pursuant to Section 8.04 of this Indenture in respect of the outstanding Notes shall be held in trust and applied by the Trustee, in
accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent
(including the Company or a Guarantor acting as Paying Agent) as the Trustee may determine, to the Holders of all sums due and to
become due thereon in respect of principal, premium, if any, and interest on the Notes, but such money need not be segregated from
other funds except to the extent required by law.

 

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(b)             The
Company will pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or Government
Securities deposited pursuant to Section 8.04 of this Indenture or the principal and interest received in respect thereof other than
any such tax, fee or other charge which by law is for the account of the Holders.

 

(c)             Anything
in this Article 8 to the contrary notwithstanding, the Trustee will deliver or pay to the Company from time to time upon the request
of the Company any money or Government Securities held by it as provided in Section 8.04 of this Indenture which, in the opinion of an
independent financial advisor expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered
under Section 8.04(1) of this Indenture), are in excess of the amount thereof that would then be required to be deposited to effect an
equivalent Legal Defeasance or Covenant Defeasance.

 

Section 8.06         Repayment
to the Company.

 

Subject to any applicable abandoned property law,
any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal, premium,
if any, or interest on any Note and remaining unclaimed for two years after such principal, premium, if any, or interest has become due
and payable shall be paid to the Company on its request or (if then held by the Company) shall be discharged from such trust; and the
Holder of such Note shall thereafter look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent
with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease.

 

Section 8.07         Reinstatement.

 

If the Trustee or Paying Agent is unable to apply
any U.S. dollars or Government Securities in accordance with Section 8.02 or Section 8.03 of this Indenture, as the case may be, by reason
of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then
the Company’s and the Guarantors’ obligations under this Indenture, the Notes and the Guarantees shall be revived and reinstated
as though no deposit had occurred pursuant to Section 8.02 or Section 8.03 of this Indenture until such time as the Trustee
or Paying Agent is permitted to apply all such money in accordance with Section 8.02 or Section 8.03 of this Indenture, as the case may
be; provided that, if the Company makes any payment of principal, premium, if any, or interest on any Note following the reinstatement
of its obligations, the Company shall be subrogated to the rights of the Holders to receive such payment from the money held by the Trustee
or Paying Agent.

 

Article 9

AMENDMENT, SUPPLEMENT AND WAIVER

 

Section 9.01        Without
Consent of Holders.

 

(a)         Notwithstanding
Section 9.02 of this Indenture, the Company and the Trustee may amend or supplement this Indenture, the Guarantees or the Notes without
the consent of any Holder:

 

(1)       to
cure any mistake, ambiguity, defect or inconsistency;

 

(2)       to provide for uncertificated Notes in addition to or in place of certificated Notes

 

(3)       to
provide for the assumption of the Company’s or a Guarantor’s obligations to the Holders and Guarantees in the case of a merger,
consolidation, Division or sale of all or substantially all of the Company’s or such Guarantor’s assets, as applicable;

 

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(4)       to
make any change that would provide any additional rights or benefits to the Holders or that does not adversely affect the legal rights
hereunder of any Holder;

 

(5)       to conform the text of this Indenture, the Guarantees or the Notes to any provision of the section described under the caption
 “Description of notes” in the Offering Memorandum to the extent that such provision in such “Description of notes”
was intended to be a verbatim recitation of a provision of this Indenture, the Guarantees or the Notes;

 

(6)       to provide for the issuance of Additional Notes in accordance with the limitations set forth in this Indenture as of the
Issue Date;

 

(7)       to
allow any Guarantor to execute a supplemental indenture and/or a Guarantee with respect to the Notes; or

 

(8)       to
issue the Notes.

 

(b)         Upon the request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such
amended or supplemental indenture, and upon receipt by the Trustee of the documents described in Section 12.04 of this Indenture, the
Trustee shall join with the Company and the Guarantors in the execution of any amended or supplemental indenture authorized or permitted
by the terms of this Indenture, but the Trustee shall not be obligated to enter into such amended or supplemental indenture that affects
its own rights, duties or immunities under this Indenture or otherwise. The Trustee shall be entitled to receive, and shall be fully protected
in relying upon, an Opinion of Counsel and Officers’ Certificate stating that such amendment or supplement is authorized or permitted
by this Indenture.

 

Section 9.02        With
Consent of Holders.

 

(a)             Except as provided in ‎Section 9.01 of this Indenture and this ‎Section 9.02,
the Company, the Guarantors and the Trustee may amend or supplement this Indenture, the Notes and the Guarantees with the consent of the
Holders of a majority in principal amount of the Notes then outstanding (including, without limitation, consents obtained in connection
with a purchase of, or tender offer or exchange offer for, Notes) and, subject to ‎Section 6.04
and ‎Section 6.07 of this Indenture, any existing Default or Event of Default (other
than a Default or Event of Default in the payment of the principal, premium, if any, or interest on the Notes, except a payment default
resulting from an acceleration that has been rescinded) or compliance with any provision of this Indenture, the Notes or the Guarantees
may be waived with the consent of the Holders of a majority in principal amount of the Notes then outstanding (including, without limitation,
consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes). ‎Section 2.08
and ‎Section 2.09 of this Indenture shall determine which Notes are considered
to be “outstanding” for the purposes of this Section 9.02.

 

(b)            Upon
the request of the Company, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders
as aforesaid, and upon receipt by the Trustee of the documents described in Section 12.04 of this Indenture, the Trustee shall join with
the Company and the Guarantors in the execution of such amended or supplemental indenture unless such amended or supplemental indenture
directly affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may
in its discretion, but shall not be obligated to, enter into such amended or supplemental indenture.

 

(c)             It shall not be necessary for the consent of the Holders under this Section 9.02 to approve the particular form of any proposed
amendment, supplement or waiver. It shall be sufficient if such consent approves the substance of such proposed amendment, supplement
or waiver.

 

(d)             After
an amendment, supplement or waiver under this Section 9.02 becomes effective, the Company will give to the Holders a notice briefly describing
such amendment, supplement or waiver. However, the failure of the Company to give such notice to all the Holders, or any defect in the
notice, will not impair or affect the validity of any such amendment, supplement or waiver.

 

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(e)             However,
without the consent of each Holder affected, an amendment, supplement or waiver under this Section 9.02 may not (with respect to any
Notes held by a non-consenting Holder):

 

(1)                 reduce the principal amount of Notes whose Holders must consent to an amendment, supplement or waiver;

 

(2)                 reduce the principal of or change the fixed maturity of any Note or alter the provisions with respect to the optional redemption
of the Notes pursuant to Section 3.07 of this Indenture (other than provisions relating to notice period for consummating an optional
redemption of the Notes);

 

(3)                 reduce the rate of or change the time for payment of interest, including default interest, on any Note;

 

(4)                 waive a Default or Event of Default in the payment of principal of, or interest or premium, if any, on, the Notes (except a rescission
of acceleration of the Notes by the Holders of at least a majority in aggregate principal amount of the then outstanding Notes and a waiver
of the payment default that resulted from such acceleration);

 

(5)                 make
any Note payable in money other than that stated in the Notes;

 

(6)                 make any change in the provisions of this Indenture relating to waivers of past Defaults or the
contractual rights of Holders to receive payments of principal of, or interest or premium, if any, on, the Notes; or

 

(7)                 make
any change in the preceding amendment and waiver provisions.

 

(f)              A
consent to any amendment, supplement or waiver of this Indenture, the Notes or the Guarantee by any Holder given in connection with a
tender of such Holder’s Notes will not be rendered invalid by such tender.

 

Section 9.03         [Reserved].

 

Section 9.04         Revocation and Effect of Consents.

 

(a)             Until
an amendment, supplement or waiver becomes effective, a consent to it by a Holder is a continuing consent by the Holder and every subsequent
Holder or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not
made on any Note. However, any such Holder or subsequent Holder may revoke the consent as to its Note if the Trustee receives written
notice of revocation before the date the waiver, supplement or amendment becomes effective. An amendment, supplement or waiver becomes
effective in accordance with its terms and thereafter binds every Holder.

 

(b)             The
Company may, but shall not be obliged to, fix a record date pursuant to Section 1.05 of this Indenture for the purpose of determining
the Holders entitled to consent to any amendment or waiver.

 

Section 9.05         Notation
on or Exchange of Notes.

 

(a)              The
Trustee may place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Company
in exchange for all Notes may issue and the Trustee shall, upon receipt of an Authentication Order, authenticate new Notes that reflect
the amendment, supplement or waiver.

 

(b)             Failure
to make the appropriate notation or issue a new Note shall not affect the validity and effect of such amendment, supplement or waiver.

 

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Section 9.06         Trustee to Sign Amendments, etc.

 

The Trustee shall sign any amended or supplemental
indenture authorized pursuant to this Article 9 if the amendment or supplement does not adversely affect the rights, duties, liabilities
or immunities of the Trustee. The Company may not sign an amended or supplemental indenture until the Board of Directors of the Company
approves it. In executing any amended or supplemental indenture, the Trustee shall be provided with and (subject to Section 7.01 of this
Indenture) shall be fully protected in relying upon, in addition to the documents required by Section 12.04 of this Indenture, an Officers’
Certificate and an Opinion of Counsel stating that the execution of such amended or supplemental indenture is authorized or permitted
by this Indenture.

 

Article 10

GUARANTEES

 

Section 10.01      Guarantees.

 

(a)         Subject
to this Article 10, each of the Guarantors hereby, jointly and severally, irrevocably and unconditionally guarantees, on a senior unsecured
basis, to each Holder and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this Indenture,
the Notes or the obligations of the Company hereunder or thereunder, that: (1) the principal, premium, if any, and interest on the Notes
shall be promptly paid in full when due, whether at Stated Maturity, by acceleration, redemption or otherwise, and interest on the overdue
principal and interest on the Notes, if any, if lawful, and all other Obligations of the Company to the Holders or the Trustee hereunder
or under the Notes shall be promptly paid in full or performed, all in accordance with the terms hereof and thereof; and (2) in case
of any extension of time of payment or renewal of any Notes or any of such other obligations, that same shall be promptly paid in full
when due or performed in accordance with the terms of the extension or renewal, whether at Stated Maturity, by acceleration or otherwise
(collectively, the “Guaranteed Obligations”). Failing payment by the Company when due of any amount so guaranteed
or any performance so guaranteed for whatever reason, the Guarantors shall be jointly and severally obligated to pay the same immediately.
Each Guarantor agrees that this is a guarantee of payment and not a guarantee of collection.

 

(b)         The Guarantors hereby agree that their obligations hereunder shall be unconditional, irrespective of the validity, regularity
or enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder with
respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any action to enforce the same or any other
circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. Each Guarantor hereby waives diligence,
presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require
a proceeding first against the Company, protest, notice and all demands whatsoever and covenants that this Guarantee shall not be discharged
except by complete performance of the obligations contained in the Notes and this Indenture, or pursuant to Section 10.05 of this Indenture.

 

(c)         Each
of the Guarantors also agrees, jointly and severally, to pay any and all costs and expenses (including reasonable attorneys’ fees
and expenses) incurred by the Trustee or any Holder in enforcing any rights under this Section 10.01 of this Indenture.

 

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

 

(e)         Each
Guarantor agrees that it shall not be entitled to any right of subrogation in relation to the Holders in respect of any obligations
guaranteed hereby until payment in full of all Obligations guaranteed hereby. Each Guarantor further agrees that, as between the
Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, (1) the maturity of the Obligations guaranteed
hereby may be accelerated as provided in Article 6 for the purposes of this Guarantee, notwithstanding any stay, injunction or other
prohibition preventing such acceleration in respect of the Obligations guaranteed hereby, and (2) in the event of any declaration of
acceleration of such Obligations as provided in Article 6 of this Indenture, such Obligations (whether or not due and payable) shall
forthwith become due and payable by the Guarantors for the purpose of this Guarantee. The Guarantors shall have the right to seek
contribution from any non-paying Guarantor so long as the exercise of such right does not impair the rights of the Holders under the
Guarantees.

 

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(f)          Each
Guarantee shall remain in full force and effect and continue to be effective should any petition be filed by or against the Company for
liquidation or reorganization, should the Company become insolvent or make an assignment for the benefit of creditors or should a receiver
or trustee be appointed for all or any significant part of the Company’s assets, and shall, to the fullest extent permitted by
law, continue to be effective or be reinstated, as the case may be, if at any time payment and performance of the Notes are, pursuant
to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by any obligee on the Notes or the Guarantees,
whether as a “voidable preference,” “fraudulent transfer” or otherwise, all as though such payment or performance
had not been made. In the event that any payment or any part thereof, is rescinded, reduced, restored or returned, the Notes shall, to
the fullest extent permitted by law, be reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored
or returned.

 

(g)         In case any provision of any Guarantee shall be invalid, illegal or unenforceable, the validity, legality and enforceability
of the remaining provisions shall not in any way be affected or impaired thereby.

 

(h)         Each
payment to be made by a Guarantor in respect of its Guarantee shall be made without set-off, counterclaim, reduction or diminution of
any kind or nature.

 

Section 10.02       Limitation on Guarantor Liability.

 

Each Guarantor, and by its acceptance of Notes, each
Holder, hereby confirms that it is the intention of all such parties that the Guarantee of such Guarantor not constitute a fraudulent
conveyance or a fraudulent transfer for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer
Act or any similar federal or state law to the extent applicable to any Guarantee. To effectuate the foregoing intention, the Trustee,
the Holders and the Guarantors hereby irrevocably agree that the obligations of each Guarantor shall be limited to the maximum amount
as will, after giving effect to such maximum amount and all other contingent and fixed liabilities of such Guarantor that are relevant
under such laws and after giving effect to any collections from, rights to receive contribution from or payments made by or on behalf
of any other Guarantor in respect of the obligations of such other Guarantor under this Article 10, result in the obligations of such
Guarantor under its Guarantee not constituting a fraudulent conveyance or fraudulent transfer under applicable law. Each Guarantor that
makes a payment under its Guarantee will be entitled upon payment in full of all Guaranteed Obligations under this Indenture to a contribution
from each other Guarantor in an amount equal to such other Guarantor’s pro rata portion of such payment based on the respective
net assets of all the Guarantors at the time of such payment, determined in accordance with GAAP.

 

Section 10.03       Execution
and Delivery.

 

(a)          To
evidence its Guarantee set forth in Section 10.01 of this Indenture, each Guarantor hereby agrees that this Indenture shall be executed
on behalf of such Guarantor by an Officer or person holding an equivalent title.

 

(b)         Each Guarantor hereby agrees that its Guarantee set forth in Section 10.01 of this Indenture shall remain in full force
and effect notwithstanding the absence of the endorsement of any notation of such Guarantee on the Notes.

 

(c)          If an Officer whose signature is on this Indenture no longer holds that office at the time the Trustee authenticates the
Note, the Guarantees shall be valid nevertheless.

 

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

 

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Section 10.04       Guarantors May Consolidate, etc., on Certain Terms. 

 

(a)         Except
as otherwise provided in this Section 10.04, a Subsidiary Guarantor may not sell or otherwise dispose of all or substantially all of its
assets to, or consolidate with or merge with or into another Person (other than the Company or another Subsidiary Guarantor) or consummate
a Division as the Dividing Person (in each case, whether or not such Subsidiary Guarantor is the surviving Person), unless:

 

(1)         immediately
after giving effect to such transaction, no Event of Default exists; and

 

(2)         either:

 

(A)              
the Person (if other than the Company or a Subsidiary Guarantor) acquiring the property in any such sale or disposition or the
Person (if other than the Company or a Subsidiary Guarantor) formed by or surviving any such consolidation, merger or Division assumes
all the obligations of that Subsidiary Guarantor under this Indenture and its Subsidiary Guarantee, pursuant to a supplemental indenture
satisfactory to the Trustee; or

 

(B)              
such transaction does not violate Section 4.10 of this Indenture.

 

(b)         AdaptHealth
Intermediate may not sell or otherwise dispose of all or substantially all of its assets to, or consolidate with or merge with or into,
another Person (other than the Company or a Subsidiary Guarantor) (in each case, whether or not AdaptHealth Intermediate is the surviving
Person), unless:

 

		(1)	immediately after giving effect to that transaction, no Event of Default exists; and

 

		(2)	the Person (if other than AdaptHealth Intermediate) acquiring the property in any such sale or disposition or the Person (if other
than AdaptHealth Intermediate) formed by or surviving any such consolidation or merger assumes all the obligations of AdaptHealth Intermediate
under this Indenture and its Guarantee pursuant to a supplemental indenture satisfactory to the Trustee.

 

Section 10.05       Releases.

 

(a)         The
Subsidiary Guarantee of a Subsidiary Guarantor will be released:

 

(1)     
in connection with any sale or other disposition of all or substantially all of the assets of that Subsidiary Guarantor
(including by way of merger, consolidation or Division) to a Person that is not (either before or after giving effect to such transaction)
the Company or a Subsidiary Guarantor, if the sale or other disposition does not violate Section 4.10 of this Indenture;

 

(2)     
in connection with any sale of Capital Stock of that Subsidiary Guarantor following which such Subsidiary Guarantor is no
longer a Restricted Subsidiary, if the sale or other disposition does not violate Section 4.10 of this Indenture;

 

(3)     
if any Restricted Subsidiary that is a Subsidiary Guarantor becomes a Non-Guarantor Subsidiary in accordance with the applicable
provisions of this Indenture; or

 

(4)     
upon Legal Defeasance or Covenant Defeasance in accordance with Article 8 of this Indenture or satisfaction and discharge
of this Indenture in accordance with Article 11 of this Indenture.

 

(b)          The
Guarantee of AdaptHealth Intermediate will be released upon Legal Defeasance, Covenant Defeasance in accordance with Article 8 of this
Indenture or satisfaction and discharge of this Indenture in accordance with Article 11 of this Indenture.

 

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Article 11

 

SATISFACTION AND DISCHARGE

 

Section 11.01       Satisfaction
and Discharge.

 

(a)              This
Indenture will be discharged and will cease to be of further effect as to all Notes issued hereunder, when:

 

(1)       either:

 

(A)           all
Notes that have been authenticated, except lost, stolen or destroyed Notes that have been replaced or paid and Notes for whose payment
money has been deposited in trust and thereafter repaid to the Company, have been delivered to the Trustee for cancellation; or

 

(B)            all Notes that have not been delivered to the Trustee for cancellation have become due and payable by reason of the transmitting
of a notice of redemption or otherwise or will become due and payable within one year and the Company or any Guarantor has irrevocably
deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders, cash in U.S. dollars,
non-callable Government Securities, or a combination of cash in U.S. dollars and non-callable Government Securities, in amounts as will
be sufficient, without consideration of any reinvestment of interest, to pay and discharge the entire Indebtedness on the Notes not delivered
to the Trustee for cancellation for principal, premium, if any, and accrued interest to the date of maturity or redemption;

 

(2)             no
Event of Default has occurred and is continuing on the date of the deposit (other than a Default or Event of Default resulting from the
borrowing of funds to be applied to such deposit) and the deposit will not result in a breach or violation of, or constitute a default
under, any other instrument to which the Company or any Guarantor is a party or by which the Company or any Guarantor is bound;

 

(3)             the Company or any Guarantor has paid or caused to be paid all sums payable by it under this Indenture; and

 

(4)             the Company has delivered irrevocable instructions to the Trustee under this Indenture to apply the deposited money toward
the payment of the Notes at maturity or on the redemption date, as the case may be.

 

(b)              In
addition, the Company must deliver an Officers’ Certificate and an Opinion of Counsel to the Trustee stating that all conditions
precedent to satisfaction and discharge have been satisfied.

 

(c)              Notwithstanding
the satisfaction and discharge of this Indenture, if money shall have been deposited with the Trustee pursuant to Section 11.01(a)(1)(B)
of this Indenture, the provisions of Section 11.02 and Section 8.06 of this Indenture shall survive.

 

Section 11.02       Application
of Trust Money.

 

(a)              Subject
to the provisions of Section 8.06 of this Indenture, all money and Government Securities deposited with the Trustee pursuant to Section
11.01 of this Indenture shall be held in trust and applied by it, in accordance with the provisions of the Notes and this Indenture,
to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may
determine, to the Persons entitled thereto, of the principal, premium, if any, and interest for whose payment such money has been deposited
with the Trustee, but such money need not be segregated from other funds except to the extent required by law.

 

(b)              If
the Trustee or Paying Agent is unable to apply any money or Government Securities in accordance with Section 11.01 of this Indenture
by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining,
restraining or otherwise prohibiting such application, the Company’s and any Guarantor’s obligations under this
Indenture, the Notes and the Guarantees shall be revived and reinstated as though no deposit had occurred pursuant to Section 11.01
of this Indenture; provided that if the Company has made any payment of principal, premium, if any, or interest on any Notes
because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to
receive such payment from the money or Government Securities held by the Trustee or Paying Agent, as the case may be.

 

    -74-

     

    

 

 

Article 12

MISCELLANEOUS

 

Section 12.01           
[Reserved].

 

Section 12.02           
Notices.

 

(a)                
Any notice or communication to the Company, any Guarantor or the Trustee is duly given if in writing and (1) delivered
in person, (2) mailed by first-class mail (certified or registered, return receipt requested), postage prepaid, or overnight air
courier guaranteeing next day delivery or (3) sent by facsimile or electronic transmission, to its address:

 

if to the Company or any Guarantor:

 

c/o AdaptHealth LLC

220 West Germantown Pike Suite 250

Plymouth Meeting, Pennsylvania 19462

Email: cjoyce@adapthealth.com

Attention: Christopher Joyce

 

with a copy to:

Willkie Farr & Gallagher LLP

787 Seventh Avenue

New York, New York 10019

Fax No: (212) 718-8111

Email: dscalzo@willkie.com; mbrandt@willkie.com

Attention: Danielle Scalzo and Michael Brandt

 

if to the Trustee:

 

The Bank of New York Mellon Trust Company, N.A.

Rebecca A Norton, MBA

Specialist, Client Service

BNY Mellon Corporate Trust

US Corporate Client Service Management

500 Ross Street, 12th Floor

Pittsburgh, PA 15262

Telephone No.: 412-234-7201

Fax No: 412-234-8377

Email: rebecca.norton@bnymellon.com

Attention: Rebecca A Norton, MBA

 

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

 

    -75-

     

    

 

(b)                 All
notices and communications (other than those sent to Holders) shall be deemed to have been duly given: at the time delivered by
hand, if personally delivered; on the first date of which publication is made, if by publication; five calendar days after being
deposited in the mail, postage prepaid, if mailed by first-class mail; the next Business Day after timely delivery to the courier,
if mailed by overnight air courier guaranteeing next day delivery; when receipt acknowledged, if sent by facsimile or electronic
transmission; provided that any notice or communication delivered to the Trustee shall be deemed effective upon actual
receipt thereof.

 

(c)                
Any notice or communication to a Holder shall be electronically transmitted or mailed by first-class mail (certified or
registered, return receipt requested) or by overnight air courier guaranteeing next day delivery to its address shown on the Note Register
or by such other delivery system as the Trustee agrees to accept. Failure to mail a notice or communication to a Holder or any defect
in it shall not affect its sufficiency with respect to other Holders.

 

(d)               
Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive
such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall
be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such
waiver.

 

(e)                
Notwithstanding any other provision herein, where this Indenture provides for notice of any event to any Holder of an interest
in a Global Note (whether by mail or otherwise), such notice shall be sufficiently given if given to the Depositary for such Note (or
its designee), according to the applicable procedures of such Depositary, if any, prescribed for the giving of such notice.

 

(f)                 
The Trustee agrees to accept and act upon notice, instructions or directions pursuant to this Indenture sent by unsecured
facsimile or electronic transmission; provided, however, that the Trustee shall have received an incumbency certificate
listing persons designated to give such instructions or directions. The Trustee shall not be liable for any losses, costs or expenses
arising directly or indirectly from the Trustee’s reliance upon and compliance with such notice, instructions or directions notwithstanding
such notice, instructions or directions conflict or are inconsistent with a subsequent notice, instructions or directions.

 

(g)                
If a notice or communication is transmitted in the manner provided above within the time prescribed, it is duly given, whether
or not the addressee receives it.

 

(h)                
If the Company transmits a notice or communication to Holders, it shall transmit a copy to the Trustee and each Agent at
the same time.

 

Section 12.03           
[Reserved].

 

Section 12.04           
Certificate and Opinion as to Conditions Precedent.

 

Upon any request or application by the Company or
any Guarantor to the Trustee to take any action under this Indenture, the Company or such Guarantor, as the case may be, shall furnish
to the Trustee:

 

(1)      
an Officers’ Certificate in form and substance reasonably satisfactory to the Trustee (which shall include the statements
set forth in Section 12.05 of this Indenture) stating that, in the opinion of the signer(s), all conditions precedent and covenants, if
any, provided for in this Indenture relating to the proposed action have been complied with; and

 

(2)      
an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee (which shall include the statements set
forth in Section 12.05 of this Indenture) stating that, in the opinion of such counsel, all such conditions precedent and covenants have
been complied with.

 

provided that no Opinion of Counsel will be required to be furnished
to the Trustee in connection with the authentication and delivery of the Initial Notes on the Issue Date.

 

    -76-

     

    

 

Section 12.05          
Statements Required in Certificate or Opinion.

 

Each certificate or opinion with respect to compliance
with a condition or covenant provided for in this Indenture shall include:

 

(1)      
a statement that the Person making such certificate or opinion has read such covenant or condition;

 

(2)      
a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained
in such certificate or opinion are based;

 

(3)      
a statement that, in the opinion of such Person, he or she has made such examination or investigation as is necessary to
enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with (and, in the case
of an Opinion of Counsel, may be limited to reliance on an Officers’ Certificate or a certificate of public officials as to matters
of fact); and

 

(4)      
a statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with.

 

Section 12.06          
Rules by Trustee and Agents.

 

The Trustee may make reasonable rules for action
by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules and set reasonable requirements for its functions.

 

Section 12.07           
No Personal Liability of Directors, Officers, Employees, Incorporator, Stockholder, Member, Partner or Other Holder of
Equity Interests.

 

No director, officer, employee, incorporator, stockholder,
member, partner or other holder of Equity Interests of the Company or any Guarantor, as such, will have any liability for any obligations
of the Company or the Guarantors under the Notes, this Indenture, the Guarantees, or for any claim 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 waiver and release
are part of the consideration for issuance of the Notes.

 

Section 12.08           
Governing Law and Jurisdiction.

 

THIS INDENTURE, THE NOTES AND ANY NOTE GUARANTEE
WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

The Company and the Trustee (i) agree that any suit,
action or proceeding against it arising out of or relating to the this Indenture may be instituted in any U.S. federal or New York state
court sitting in the Borough of Manhattan, New York City, New York, (ii) irrevocably submit to the non-exclusive jurisdiction of such
courts in any suit, action or proceeding, (iii) waive, to the fullest extent permitted by applicable law, any objection which it may now
or hereafter have to the laying of venue of any such suit, action or proceeding, any claim that any suit, action or proceeding in such
a court has been brought in an inconvenient forum and any right to the jurisdiction of any other courts to which it may be entitled on
account of place of residence or domicile, and (iv) agree that final judgment in any such suit, action or proceeding brought in such a
court shall be conclusive and binding and may be enforced in the courts of the jurisdiction of which it is subject by a suit upon judgment.

 

Section 12.09           
Waiver of Jury Trial.

 

EACH OF THE COMPANY, THE GUARANTORS, HOLDERS AND
THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES, THE NOTE GUARANTEES OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

    -77-

     

    

 

Section 12.10           
Force Majeure.

 

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

 

Section 12.11           
No Adverse Interpretation of Other Agreements.

 

This Indenture may not be used to interpret any other
indenture, loan or debt agreement of the Company or its Restricted Subsidiaries or of any other Person. Any such indenture, loan or debt
agreement may not be used to interpret this Indenture.

 

Section 12.12           
Successors.

 

All agreements of the Company in this Indenture and
the Notes shall bind its successors. All agreements of the Trustee in this Indenture shall bind its successors. All agreements of each
Guarantor in this Indenture shall bind its successors, except as otherwise provided in Section 10.05 of this Indenture.

 

Section 12.13           
Severability.

 

In case any provision in this Indenture or in the
Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any
way be affected or impaired thereby.

 

Section 12.14           
Counterpart Originals.

 

The parties may sign any number of copies of this
Indenture. Each signed copy shall be an original, but all of them together represent the same agreement.

 

Section 12.15           
Table of Contents, Headings, etc.

 

The Table of Contents and headings of the Articles
and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part of this Indenture
and shall in no way modify or restrict any of the terms or provisions hereof.

 

Section 12.16           
Facsimile and PDF Delivery of Signature Pages.

 

The exchange of copies of this Indenture and of signature
pages by facsimile or portable document format (“PDF”) 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 or PDF shall be deemed to be their original signatures for all purposes. The words “execution,”
 “signed,” “signature,” “delivery” and words of like import in or relating to this Indenture or any
document to be signed in connection with this Indenture shall be deemed to include electronic signatures, deliveries or the keeping of
records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature,
physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, and the parties hereto consent to conduct
the transactions contemplated hereunder by electronic means.

 

Section 12.17           
U.S.A. PATRIOT Act; OFAC.

 

The parties hereto acknowledge that in
accordance with Section 326 of the U.S.A. PATRIOT Act, the Trustee is required to obtain, verify, and record information that
identifies each person or legal entity that establishes a relationship or opens an account with the Trustee. The parties to this
Indenture agree that they will provide the Trustee with such information as it may request in order for the Trustee to satisfy the
requirements of the U.S.A. PATRIOT Act.

 

    -78-

     

    

 

The Company covenants and represents that neither
it nor any of its affiliates, subsidiaries, directors or officers are the target or subject of any sanctions enforced by the U.S. Government,
(including, without limitation, the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of
State), the United Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions authority (collectively
 “Sanctions”). The Company covenants and represents that neither it nor any of its affiliates, subsidiaries, directors
or officers will knowingly use any repayments/reimbursements made pursuant this Indenture (i) to fund or facilitate any activities of
or business with any person who, at the time of such funding or facilitation, is the subject or target of Sanctions, (ii) to fund or facilitate
any activities of or business with any country or territory that is the target or subject of Sanctions, or (iii) in any other manner that
will result in a violation of Sanctions by any person.

 

Section 12.18           
Tax Information.

 

Upon request from the Trustee, the Company shall
use commercially reasonable efforts to provide information reasonably necessary in order to enable the Trustee to determine whether any
withholding obligations under Sections 1471-1474 of the Internal Revenue Code of 1986, as amended (“FATCA”), or other
applicable law apply to payments made pursuant to this Indenture. The Trustee shall be entitled to make any withholding or deductions
from payments pursuant to this Indenture to the extent necessary to comply with FATCA or other applicable law and neither the Trustee
nor the Company, subject to the Company’s indemnity obligations under Section 7.06, shall have any liability in connection with
its compliance therewith.

 

Section 12.19           
Payments Due on Non-Business Days.

 

In any case where any Interest Payment Date, redemption
date or repurchase date or the Stated Maturity of the Notes shall not be a Business Day, then (notwithstanding any other provision of
this Indenture or of the Notes) payment of principal, premium, if any, or interest on the Notes need not be made on such date, but may
be made on the next succeeding Business Day with the same force and effect as if made on the Interest Payment Date, redemption date or
repurchase date, or at the Stated Maturity of the Notes; provided that no interest will accrue for the period from and after such
Interest Payment Date, redemption date, repurchase date or Stated Maturity, as the case may be.

 

[Signatures on following page]

 

    -79-

     

    

 

	 	ADAPTHEALTH LLC

 

	 	By:	   /s/ Stephen Griggs
	 	 	Name: Stephen Griggs
	 	 	Title:   Chief Executive Officer
	 	 	 

 

	 	
    ABC MEDICAL, LLC

    ABSOLUTE RESPIRATORY CARE, LLC

    ACCESS MEDICAL, LLC

    ACCUCARE MEDICAL EQUIPMENT, LLC

    ACTIVSTYLE, LLC

    ADAPTHEALTH INTERMEDIATE HOLDCO
    LLC

    ADAPTHEALTH - MISSOURI LLC

    ADAPTHEALTH MINNESOTA LLC

    ADAPTHEALTH NEW ENGLAND LLC

    ADAPTHEALTH PATIENT CARE
    SOLUTIONS LLC

    ADMECO, INC.

    ADVOCATE MEDICAL SERVICES, LLC

    AEROCARE EMPLOYEE BENEFITS, INC.

    AEROCARE EXPRESS MEDICAL, LLC

    AEROCARE HOLDINGS LLC

    AEROCARE HOME MEDICAL EQUIPMENT,

    INC. (INCORPORATED IN MO)

    AEROCARE HOME MEDICAL EQUIPMENT,

    INC. (INCORPORATED IN TX)

    AEROCARE HOME MEDICAL, INC.

    AEROCARE PHARMACY, INC.

    AEROCARE, INC.

    AGILE MEDICAL, LLC

    AGILIS MED HOLDINGS, LLC

    AIRCARE HOME MEDICAL, INC.

    AIRCARE HOME RESPIRATORY, LLC

    AIRWAY OXYGEN, INC.

    ALL AMERICAN HOME AID, LLC

    ALL AMERICAN MEDICAL SERVICES, INC.

    ALL AMERICAN OXYGEN, INC.

    ALLCARE, INC.

    AMERICA’S HEALTH CARE AT HOME,
    LLC

    AMERICAN ANCILLARIES, INC.

    AMERICAN HOME MEDICAL, INC.

    AMERICAN PREFERRED HOME
    MEDICAL, L.L.C.

    AMERICOAST MARYLAND LLC

    AMERI-QUIPT OF NORTH CAROLINA, INC.

    ASSOCIATED HEALTHCARE SYSTEMS, INC.

    ATLANTIC MEDICAL SUPPLY, INC. 

 

[Signature Page to Indenture
for 5.125% Senior Notes due 2030]

 

    

    

    

 

	 	
    ATLANTIC MEDICAL, INC.

    AUSTIN RESPIRATORY EQUIPMENT, INC.

    BEACON RESPIRATORY SERVICES
OF GEORGIA, INC.

    BEACON RESPIRATORY SERVICES, INC.

    BENNETT MEDICAL SERVICES LLC

    BESTMED RESPIRATORY, INC. BHS,
    INC.

    BIRD AND BEAR MEDICAL, INC.

    BJ’S WHEELCHAIR SERVICE, INC.

    BLUEGRASS OXYGEN, INC.

    B-PHARM, INC.

    BRADEN PARTNERS, L.P.

    BRADLEY DME, LLC

    BREATHE GRACE MEDICAL SUPPLY, LLC

    BUFFALO WHEELCHAIR, INC.

    BUYPAPUSA.COM, INC.

    CAPE MEDICAL SUPPLY, LLC

    CARE PLUS OXYGEN, INC.

    CARMICHAELS HOME MEDICAL
    EQUIPMENT, INC.

    CHAMPLAIN VALLEY BRACE AND
LIMB, L.L.C.

    CHARLOTTE RESPIRATORY SOLUTIONS
    INC.

    CHOICE MEDICAL HEALTH CARE, LLC

    CHOICE RESPIRATORY &
    MEDICAL EQUIPMENT, INC.

    CLAY HOME MEDICAL, INC.

    CLEARVIEW MEDICAL INCORPORATED

    COMMUNITY MEDICAL SUPPLY, INC.

    CORNERSTONE MEDICAL SERVICES
 – MIDWEST, LLC

    CORNERSTONE MEDICAL SERVICES OF

    COLUMBUS LLC

    CPAP2ME, INC.

    CPAPSUPPLY.COM, INC.

    CRESSCARE MEDICAL, INC.

    DESERT RIDGE REHABILITATION
 & HEALTH CENTER LLC

    DESLOGE HOME OXYGEN AND
    MEDICAL EQUIPMENT, INC.

    DIABETES MANAGEMENT AND
    SUPPLIES, L.L.C.

    DIABETES MANAGEMENT PHARMACY, L.L.C.

    DIABETES SUPPLY CENTER OF THE
    MIDLANDS, LLC

    DM ACQUISITION SUB LLC

    DREAM CARE OF VIRGINIA, LLC

    EDGE MEDICAL SUPPLY, L.L.C.

    EXPRESS MEDICAL SUPPLY, LTD.

    F1RST CHOICE IN-HOMECARE, INC.

    FAMILY HOME MEDICAL SUPPLY LLC

    FAMILY MEDICAL SUPPLY, LLC

    FIRST CHOICE DME LLC

    FIRST CHOICE HOME MEDICAL
    EQUIPMENT, LLC

 

[Signature Page to Indenture
for 5.125% Senior Notes due 2030]

 

    

    

    

 

	 	
    FIRST CHOICE MEDICAL EQUIPMENT,
    INC.

    FLORIDA HOME CAIR, INC.

    FLORIDA HOME MEDICAL SUPPLY, LLC

    FREEDOM RESPIRATORY, INC.

    GEORGIA HOME MEDICAL - COLUMBUS,
    INC.

    GEORGIA HOME MEDICAL, INC.

    GME MEDICAL SUPPLY, INC.

    GOULD’S DISCOUNT MEDICAL,
    LLC

    GRACE HEALTHCARE DME, INC.

    GRACE HEALTHCARE INCORPORATED

    GRACE HEALTHCARE INTERNET SALES,
    INC.

    GRACE HEALTHCARE MEDICAL, INC.

    GRACE HEALTHCARE, INC.

    GRACE MEDICAL EQUIPMENT INC DBA

    GRACE HEALTHCARE

    GRACE MEDICAL, INC.

    GUARDIAN MEDICAL INC

    HALPRIN, INCORPORATED

    HEALTH COMPLEX MEDICAL, LLC

    HEALTH PRODUCTS PLUS, INC.

    HEALTH SOLUTIONS LLC

    HEALTHLINE MEDICAL EQUIPMENT, LLC

    HEALTHY LIVING MEDICAL SUPPLY, LLC

    HEARTLAND MEDICAL EQUIPMENT, INC.

    HOME CARE MEDICAL, INC.

    HOME MEDICAL EXPRESS, INC.

    HOME MEDISERVICE, LLC

    HOME NURSING CARE, INC.

    HOME RESPIRATORY SOLUTION’S
    INC.

    HOME WELLNESS, LLC

    HOMETOWN HOME HEALTH, LLC

    HOMETOWN RESPIRATORY
    CONSULTANTS, INC.

    HUB’S HOME OXYGEN &
MEDICAL SUPPLIES, INC.

    HUEY’S HOME MEDICAL, LLC

    HURST MEDICAL EQUIPMENT, INC.

    IV CARE, LLC

    J.M.R. MEDICAL, LLC

    KENTUCKY MEDICAL SUPPLY, INC.

    LAMAR, LLC

    LCM MEDICAL, INC.

    LEGACY HOMEMEDICAL LLC

    LEGACY MEDICAL LLC

    LEHIGH VALLEY RESPIRATORY CARE
 – LANCASTER, INC.

    LIFEHME, INC.

    LMI DME HOLDINGS LLC

    LOFTIS HOME MEDICAL, LLC

    LOOKOUT MEDICAL SERVICES, INC.

    LOUISVILLE O 2, INC.

    LOVELL MEDICAL SUPPLY, INC.

    M. DAVIS MANAGEMENT, INC.

    M.A.R.Y. MEDICAL, LLC

    MADISON COUNTY MEDICAL
    EQUIPMENT, INC.

 

[Signature Page to Indenture
for 5.125% Senior Notes due 2030]

 

    

    

    

 

	 	
    MAJOR MEDICAL SUPPLY OF BRIGHTON
    LLC

    MAJOR MEDICAL SUPPLY OF
    COLORADO SPRINGS LLC

    MAJOR MEDICAL SUPPLY OF DENVER LLC

    MAJOR MEDICAL SUPPLY OF FORT
COLLINS, LLC

    MAJOR MEDICAL SUPPLY OF GREELEY
    LLC

    MAJOR MEDICAL SUPPLY, LLC

    MANOR RESPIRATORY CARE, INC.

    MATRIX MEDICAL, LLC

    MCFARLAND GROUP, INC.

    MED STAR SURGICAL &
    BREATHING EQUIPMENT INC.

    MED WAY MEDICAL, INC.

    MEDBRIDGE HOME MEDICAL LLC

    MED-EQUIP, INC.

    MEDHOME SPECIALTY SERVICES, LLC

    MEDICAL LOGIC FT. WALTON, INC.

    MEDICAL LOGIC, INC.

    MEDICAL NECESSITIES AND SERVICES,
    LLC

    MEDIDEX LLC

    MEDLOGIC ANNISTON INC.

    MEDLOGIC BIRMINGHAM INC.

    MEDSTAR HOLDINGS LLC

    MEDWAY MEDICAL EQUIPMENT, LLC

    MISSISSIPPI HMA DME, LLC

    MME II, LLC

    MONTGOMERY MEDICAL SUPPLY, INC.

    NEW ENGLAND HOME MEDICAL
    EQUIPMENT, LLC

    NRE HOLDING LLC

    OCEAN HOME HEALTH OF PA LLC

    OCEAN HOME HEALTH SUPPLY LLC

    OGLES OXYGEN, LLC

    ORBIT MEDICAL OF PORTLAND, INC.

    OURS CORPORATION

    OXYGEN & SLEEP ASSOCIATES, INC.

    OXYGEN ONE, INC.

    OXYGEN SUPPLY SHOP L.L.C.

    PAL-MED, LLC

    PALMETTO OXYGEN, LLC

    PARRISH HOME MEDICAL, INC.

    PATIENTS FIRST MEDICAL EQUIPMENT
OF SPARTANBURG, LLC

    PAUL HOME OXYGEN SERVICES, INC.

    PEACH HOME HEALTH CARE, INC.

    PHARMACY, INC.

    PHARMACY, INC. KENTUCKY

    PINNACLE MEDICAL SOLUTIONS, LLC

    PPS HME HOLDINGS LLC

    PPS HME LLC

    PRATTVILLE MEDICAL EQUIPMENT INC.

    PREMIER HOME CARE, INC.

    PROMISE MEDICAL, INC.

    PROVIDER PLUS, INC.

    PVHS HOME MEDICAL SUPPLY, LLC

 

[Signature Page to Indenture
for 5.125% Senior Notes due 2030]

 

    

    

    

 

	 	
    QUALITY HOME MEDICAL, INC.

    QUALITY MEDICAL SERVICES, INC.

    QUALITY RESPI-CARE, INC.

    RELIABLE MEDICAL EQUIPMENT, LLC

    RELIABLE MEDICAL OF CONWAY, LLC

    RELY MEDICAL SUPPLY, LLC

    RESP-I-CARE, INC.

    RESPIRATORY HOME CARE OF BRISTOL,
    LLC

    RESPIRATORY SERVICES OF WESTERN
NEW YORK, INC.

    RESPRACARE, INC.

    ROBERTS HOME MEDICAL, LLC

    ROCKY MOUNTAIN MEDICAL
    EQUIPMENT LLC

    ROCKY MOUNTAIN MEDICAL
    EQUIPMENT, INC.

    ROYAL MEDICAL SUPPLY INC.

    SENIOR CARE SERVICE, LLC

    SKINNY LLC

    SKORO ENTERPRISES, LLC

    SLEEP THERAPY, LLC

    SLEEPEASY THERAPEUTICS, INC.

    SOLARA HOLDINGS, LLC

    SOLARA INTERMEDIATE, LLC

    SOLARA MEDICAL SUPPLIES, LLC

    SOUND OXYGEN SERVICE LLC

    SOUTHERN HOME RESPIRATORY
 & EQUIPMENT, INC.

    SOUTHERN NEVADA OXYGEN, INC.

    SPECIALIZED MEDICAL DEVICES, INC.

    SPIRO HEALTH SERVICES, LLC

    SUNBELT MEDICAL SUPPLY & OXYGEN,
    INC.

    T C MEDICAL SUPPLY, LLC

    THE 3700 COMPANY, L.L.C.

    THE OXYGEN COMPANY, INC.

    THH ACQUISITION LLC I

    TMS VT, LLC

    TOTAL HOMECARE CORPORATION

    TOTAL RESPIRATORY, LLC

    TRIAD RESPIRATORY SOLUTIONS, INC.

    TRICOREX, INC.

    TRICOUNTY MEDICAL EQUIPMENT
AND SUPPLY, LLC

    TRINITY HEALTHCARE OF
    WINSTON-SALEM, INC.

    TWIN RIVERS RESPIRATORY CARE, INC.

    VERIO HEALTHCARE, INC.

    VERUS HEALTHCARE, INC.

    VERUS HEALTHCARE LLC

    VITACARE, L.L.C.

    WECARE MEDICAL SOMERSERT, LLC

    WECARE MEDICAL, LLC

    WOLF INDUSTRIES, INC. 

 

[Signature Page to Indenture
for 5.125% Senior Notes due 2030]

 

    

    

    

 

	 	By:	   /s/ Stephen Griggs
	 	 	Name: Stephen Griggs
	 	 	Title:   Chief Executive Officer

 

[Signature Page to Indenture
for 5.125% Senior Notes due 2030]

 

    

    

    

 

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

 

	 	By:	   /s/ Shannon Matthews 
	 	 	Name: Shannon Matthews
	 	 	Title: Vice President    

 

[Signature Page to Indenture for 5.125% Senior
Notes due 2030]

 

    

    

    

 

APPENDIX A

  

PROVISIONS RELATING TO THE INITIAL NOTES AND THE
ADDITIONAL NOTES

 

	Section 1.1	Definitions.

 

(a)                
Capitalized Terms.

 

Capitalized terms used but not defined in this Appendix
A have the meanings given to them in this Indenture. The following capitalized terms have the following meanings:

 

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

 

“Clearstream” means Clearstream
Banking, Société Anonyme, or any successor securities clearing agency.

 

“Distribution Compliance Period,”
with respect to any Note, means the period of 40 consecutive days beginning on and including the later of (a) the day on which such
Note is first offered to persons other than distributors (as defined in Regulation S) in reliance on Regulation S, notice of which
day shall be promptly given by the Company to the Trustee, and (b) the date of issuance with respect to such Note or any predecessor
of such Note.

 

“Euroclear” means Euroclear Bank
S.A./N.V., as operator of Euroclear systems Clearance System or any successor securities clearing agency.

 

“IAI” means an institution that
is an “accredited investor” as described in Rule 501(a)(1), (2), (3) or (7) under the Securities Act and is not a QIB.

 

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

 

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

 

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

 

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

 

“Unrestricted Global Note” means
any Note in global form that does not bear or is not required to bear the Restricted Notes Legend.

 

“U.S. person” means a “U.S.
person” as defined in Regulation S.

 

(b)               
Other Definitions.

 

	Term:	Defined in

 Section:
	 	 
	“Agent Members”	2.1(c)
	“Definitive Notes Legend”	2.2(e)
	“ERISA Legend” 	2.2(e)
	“Global Note” 	2.1(b)
	“Global Notes Legend”	2.2(e)
	“IAI Global Note”	2.1(b)
	“Regulation S Global Note”	2.1(b)
	“Regulation S Notes”	2.1(a)
	“Restricted Notes Legend”	2.2(e)
	“Rule 144A Global Note”	2.1(b)
	“Rule 144A Notes” 	2.1(a)

 

     

     

    

 

	Section 2.1	Form and Dating

 

(a)                
The Initial Notes issued on the date hereof shall be (i) offered and sold by the Company to the initial purchasers thereof
and (ii) resold, initially only to (1) QIBs in reliance on Rule 144A (“Rule 144A Notes”) and (2) Persons
other than U.S. persons in reliance on Regulation S (“Regulation S Notes”). Additional Notes may also be considered
to be Rule 144A Notes or Regulation S Notes, as applicable.

 

(b)               
Global Notes. Rule 144A Notes shall be issued initially in the form of one or more permanent Global Notes in definitive,
fully registered form, numbered RA-1 upward (collectively, the “Rule 144A Global Note”) and Regulation S
Notes shall be issued initially in the form of one or more Global Notes, numbered RS-1 upward (collectively, the “Regulation
S Global Note”), in each case without interest coupons and bearing the Global Notes Legend and Restricted Notes Legend, which
shall be deposited on behalf of the purchasers of the Notes represented thereby with the Custodian, and registered in the name of the
Depositary or a nominee of the Depositary, duly executed by the Company and authenticated by the Trustee as provided in the Indenture.
One or more Global Notes in definitive, fully registered form without interest coupons and bearing the Global Notes Legend and the Restricted
Notes Legend, numbered RIAI-1 upward (collectively, the “IAI Global Note”) shall also be issued on the Issue Date,
deposited with the Custodian, and registered in the name of the Depositary or a nominee of the Depositary, duly executed by the Company
and authenticated by the Trustee as provided in this Indenture to accommodate transfers of beneficial interests in the Notes to IAIs subsequent
to the initial distribution. The Rule 144A Global Note, the IAI Global Note, the Regulation S Global Note and any Unrestricted
Global Note are each referred to herein as a “Global Note” and are collectively referred to herein as “Global
Notes.” Each Global Note shall represent such of the outstanding Notes as shall be specified in the “Schedule of Exchanges
of Interests in the Global Note” attached thereto and each shall provide that it shall represent the aggregate principal amount
of Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby may from
time to time be reduced or increased, as applicable, to reflect exchanges and redemptions. Any endorsement of a Global Note to reflect
the amount of any increase or decrease in the aggregate principal amount of outstanding Notes represented thereby shall be made by the
Trustee or the Custodian, at the direction of the Trustee, in accordance with instructions given by the Holder thereof as required by
Section 2.06 of this Indenture and Section 2.2(c) of this Appendix A.

 

(c)                
Book-Entry Provisions. This Section 2.1(c) shall apply only to a Global Note deposited with or on behalf of
the Depositary.

 

The Company shall execute and the Trustee shall,
in accordance with this Section 2.1(c) and Section 2.02 of this Indenture and pursuant to an Authentication Order, authenticate
and deliver initially one or more Global Notes that (i) shall be registered in the name of the Depositary for such Global Note or
Global Notes or the nominee of such Depositary and (ii) shall be delivered by the Trustee to such Depositary or pursuant to such
Depositary’s instructions or held by the Trustee as Custodian.

 

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

 

(d)               
Definitive Notes. Except as provided in Section 2.2 or Section 2.3 of this Appendix A, owners of beneficial
interests in Global Notes shall not be entitled to receive physical delivery of Definitive Notes.

 

    2

     

    

 

	Section 2.2	Transfer and Exchange.

 

(a)                
Transfer and Exchange of Definitive Notes for Definitive Notes. When Definitive Notes are presented to the Registrar
with a request:

 

(i)  to register the transfer of
such Definitive Notes; or

 

(ii)  to exchange such Definitive
Notes for an equal principal amount of Definitive Notes of other authorized denominations,

 

the Registrar shall register the transfer or make the exchange as requested
if its reasonable requirements for such transaction are met; provided, however, that the Definitive Notes surrendered for
transfer or exchange:

 

(1)               
shall be duly endorsed or accompanied by a written instrument of transfer in form reasonably satisfactory to the Company
and the Registrar, duly executed by the Holder thereof or his or her attorney duly authorized in writing; and

 

(2)               
in the case of Transfer Restricted Notes, they are being transferred or exchanged pursuant to an effective registration
statement under the Securities Act or pursuant to Section 2.2(b) of this Appendix A or otherwise in accordance with the Restricted
Notes Legend, and are accompanied by a certification from the transferor in the form provided on the reverse side of the Form of Note
in Exhibit A for exchange or registration of transfers and, as applicable, delivery of such legal opinions, certifications and
other information as may be requested pursuant thereto.

 

(b)               
Restrictions on Transfer of a Definitive Note for a Beneficial Interest in a Global Note. A Definitive Note may not
be exchanged for a beneficial interest in a Global Note except upon satisfaction of the requirements set forth below. Upon receipt by
the Trustee of a Definitive Note, duly endorsed or accompanied by a written instrument of transfer in form reasonably satisfactory to
the Company and the Registrar, together with:

 

(i) a certification from the transferor
in the form provided on the reverse side of the Form of Note in Exhibit A for exchange or registration of transfers and, as applicable,
delivery of such legal opinions, certifications and other information as may be requested pursuant thereto; and

 

(ii) written instructions directing
the Trustee to make, or to direct the Custodian to make, an adjustment on its books and records with respect to such Global Note to reflect
an increase in the aggregate principal amount of the Notes represented by the Global Note, such instructions to contain information regarding
the Depositary account to be credited with such increase,

 

the Trustee shall cancel such Definitive Note and cause, or direct
the Custodian to cause, in accordance with the standing instructions and procedures existing between the Depositary and the Custodian,
the aggregate principal amount of Notes represented by the Global Note to be increased by the aggregate principal amount of the Definitive
Note to be exchanged and shall credit or cause to be credited to the account of the Person specified in such instructions a beneficial
interest in the Global Note equal to the principal amount of the Definitive Note so canceled. If the applicable Global Note is not then
outstanding, the Company shall issue and the Trustee shall authenticate, upon an Authentication Order, a new applicable Global Note in
the appropriate principal amount.

 

(c)                
Transfer and Exchange of Global Notes.

 

(i)  The transfer and exchange of Global
Notes or beneficial interests therein shall be effected through the Depositary, in accordance with the Indenture (including applicable
restrictions on transfer set forth in Section 2.2(d) of this Appendix A, if any) and the procedures of the Depositary therefor. A transferor
of a beneficial interest in a Global Note shall deliver to the Registrar a written order given in accordance with the Depositary’s
procedures containing information regarding the participant account of the Depositary to be credited with a beneficial interest in such
Global Note, or another Global Note and such account shall be credited in accordance with such order with a beneficial interest in the
applicable Global Note and the account of the Person making the transfer shall be debited by an amount equal to the beneficial interest
in the Global Note being transferred.

 

    3

     

    

 

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

 

(iii)  Notwithstanding any other provisions
of this Appendix A (other than the provisions set forth in Section 2.3 of this Appendix A), a Global Note may not be transferred
except as a whole and not in part if the transfer is 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.

 

(d)               
Restrictions on Transfer of Global Notes; Voluntary Exchange of Interests in Transfer Restricted Global Notes for Interests
in Unrestricted Global Notes.

 

(i) Transfers by an owner of a beneficial interest
in a Rule 144A Global Note or an IAI Global Note to a transferee who takes delivery of such interest through another Restricted Global
Note shall be made in accordance with the Applicable Procedures and the Restricted Notes Legend and only upon receipt by the Trustee of
a certification from the transferor in the form provided on the reverse side of the Form of Note in Exhibit A for exchange
or registration of transfers and, as applicable, delivery of such legal opinions, certifications and other information as may be requested
pursuant thereto. In addition, in the case of a transfer of a beneficial interest in either a Regulation S Global Note or a Rule 144A
Global Note for an interest in an IAI Global Note, the transferee must furnish a signed letter substantially in the form of Exhibit B
to the Trustee.

 

(ii) During the Distribution Compliance Period, beneficial
ownership interests in the Regulation S Global Note may only be sold, pledged or transferred through Euroclear or Clearstream in accordance
with the Applicable Procedures, the Restricted Notes Legend on such Regulation S Global Note and any applicable securities laws of any
state of the U.S. Prior to the expiration of the Distribution Compliance Period, transfers by an owner of a beneficial interest in the
Regulation S Global Note to a transferee who takes delivery of such interest through a Rule 144A Global Note or an IAI Global Note
shall be made only in accordance with the Applicable Procedures and the Restricted Notes Legend and upon receipt by the Trustee of a written
certification from the transferor of the beneficial interest in the form provided on the reverse side of the Form of Note in Exhibit A
for exchange or registration of transfers. Such written certification shall no longer be required after the expiration of the Distribution
Compliance Period. Upon the expiration of the Distribution Compliance Period, beneficial ownership interests in the Regulation S Global
Note shall be transferable in accordance with applicable law and the other terms of the Indenture.

 

(iii) Upon the expiration of the Distribution Compliance
Period, beneficial interests in the Regulation S Global Note may be exchanged for beneficial interests in an Unrestricted Global
Note upon certification in the form provided on the reverse side of the Form of Note in Exhibit A for an exchange from a Regulation
S Global Note to an Unrestricted Global Note.

 

(iv) Beneficial interests in a Transfer Restricted
Note that is a Rule 144A Global Note or an IAI Global Note may be exchanged for beneficial interests in an Unrestricted Global Note if
the Holder certifies in writing to the Registrar that its request for such exchange is in respect of a transfer made in reliance on Rule
144 (such certification to be in the form set forth on the reverse side of the Form of Note in Exhibit A) and/or upon delivery
of such legal opinions, certifications and other information as the Company or the Trustee may reasonably request.

 

(v) If no Unrestricted Global Note is outstanding
at the time of a transfer contemplated by the preceding clauses (iii) and (iv), the Company shall issue and the Trustee shall authenticate,
upon an Authentication Order, a new Unrestricted Global Note in the appropriate principal amount.

 

    4

     

    

 

(e)                
Legends.

 

(i)  Except as permitted by Section 2.2(d)
and this Section 2.2(e) of this Appendix A, each Note certificate evidencing the Global Notes and the Definitive Notes (and all Notes
issued in exchange therefor or in substitution thereof) shall bear a legend in substantially the following form (each defined term in
the legend being defined as such for purposes of the legend only) (“Restricted Notes Legend”):

 

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY
NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN
THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY,
BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS [IN THE
CASE OF RULE 144A NOTES: SIX MONTHS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF, THE ORIGINAL ISSUE DATE OF THE ISSUANCE OF
ANY ADDITIONAL NOTES AND THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR
OF SUCH SECURITY)] [IN THE CASE OF REGULATION S NOTES: 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF, THE ORIGINAL
ISSUE DATE OF THE ISSUANCE OF ANY ADDITIONAL NOTES AND THE DATE ON WHICH THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY) WAS FIRST
OFFERED TO PERSONS OTHER THAN DISTRIBUTORS (AS DEFINED IN RULE 902 OF REGULATION S) IN RELIANCE ON REGULATION S], ONLY (A) TO THE COMPANY
OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR
SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON
IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR
FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D)
PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES
ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES
ACT THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER INSTITUTIONAL
ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF SECURITIES OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER,
SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/ OR OTHER INFORMATION
SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE.
[IN THE CASE OF REGULATION S NOTES: BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS
IT PURCHASING FOR THE ACCOUNT OF A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION
S UNDER THE SECURITIES ACT.]

 

Each Definitive Note shall bear the following additional legend (“Definitive
Notes Legend”):

 

    5

     

    

 

IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE
REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH REGISTRAR AND TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM
THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.

 

Each Global Note shall bear the following additional legend (“Global
Notes Legend”):

 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS
IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS
IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS
OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO
ON THE REVERSE HEREOF.

 

Each Note shall bear the following additional legend (“ERISA
Legend”):

 

BY ITS ACQUISITION OF THIS SECURITY, THE HOLDER THEREOF WILL
BE DEEMED TO HAVE REPRESENTED AND WARRANTED THAT EITHER (1) NO PORTION OF THE ASSETS USED BY SUCH HOLDER TO ACQUIRE OR HOLD THIS SECURITY
(OR ANY INTERESTS THEREIN) CONSTITUTES THE ASSETS OF AN EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO TITLE I OF THE U.S. EMPLOYEE RETIREMENT
INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OF A PLAN, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER ARRANGEMENT THAT IS SUBJECT
TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR PROVISIONS UNDER ANY OTHER U.S. OR NON-U.S.
FEDERAL, STATE, LOCAL, OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAWS”),
OR OF AN ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE “PLAN ASSETS” OF ANY SUCH PLAN, ACCOUNT OR ARRANGEMENT,
OR (2) THE ACQUISITION, HOLDING AND SUBSEQUENT DISPOSITION OF THIS SECURITY (OR ANY INTERESTS THEREIN) WILL NOT CONSTITUTE A NON-EXEMPT
PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A SIMILAR VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS.

 

(ii)  Upon any sale or transfer of a Transfer
Restricted Note that is a Definitive Note, the Registrar shall permit the Holder thereof to exchange such Transfer Restricted Note for
a Definitive Note that does not bear the Restricted Notes Legend and the Definitive Notes Legend and rescind any restriction on the transfer
of such Transfer Restricted Note if the Holder certifies in writing to the Registrar that its request for such exchange is in respect
of a transfer made in reliance on Rule 144 (such certification to be in the form set forth on the reverse side of the Form of Note
in Exhibit A) and provides such legal opinions, certifications and other information as the Company or the Trustee may reasonably
request.

 

(iii) Any Additional Notes sold in a registered
offering shall not be required to bear the Restricted Notes Legend.

 

    6

     

    

 

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

 

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

 

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

 

(ii) No service charge shall be imposed in connection
with any registration of transfer or exchange (other than pursuant to Section 2.07 of this Indenture), but the Company may require payment
of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer
taxes or similar governmental charge payable upon exchange or transfer pursuant to Sections 2.10, 3.06, 4.10, 4.15 and 9.05 of this
Indenture).

 

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

 

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

 

(v)  In order to effect any transfer or
exchange of an interest in any Transfer Restricted Note for an interest in a Note that does not bear the Restricted Notes Legend and has
not been registered under the Securities Act, if the Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel,
in form reasonably acceptable to the Registrar to the effect that no registration under the Securities Act is required in respect of such
exchange or transfer or the re-sale of such interest by the beneficial Holder thereof, shall be required to be delivered to the Registrar
and the Trustee.

 

(h)               
No Obligation of the Trustee.

 

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

 

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

 

    7

     

    

 

	Section 2.3	Definitive Notes.

 

(a)                
A Global Note deposited with the Depositary or with the Trustee as Custodian pursuant to Section 2.1 may be transferred
to the beneficial owners thereof in the form of Definitive Notes in an aggregate principal amount equal to the principal amount of such
Global Note, in exchange for such Global Note, only if such transfer complies with Section 2.2 of this Appendix A and (i) the
Depositary notifies the Company that it is unwilling or unable to continue as a Depositary for such Global Note or if at any time the
Depositary ceases to be a “clearing agency” registered under the Exchange Act and, in each case, a successor depositary is
not appointed by the Company within 90 days of such notice or after the Company becomes aware of such cessation or (ii) an Event
of Default has occurred and is continuing and the Registrar has received a request from the Depository. In addition, any Affiliate of
the Company or any Guarantor that is a beneficial owner of all or part of a Global Note may have such Affiliate’s beneficial interest
transferred to such Affiliate in the form of a Definitive Note by providing a written request to the Company and the Trustee and such
Opinions of Counsel, certificates or other information as may be required by this Indenture or the Company or Trustee.

 

(b)               
Any Global Note that is transferable to the beneficial owners thereof pursuant to this Section 2.3 shall be surrendered
by the Depositary to the Trustee, to be so transferred, in whole or from time to time in part, without charge, and the Trustee shall authenticate
and deliver, upon such transfer of each portion of such Global Note, an equal aggregate principal amount of Definitive Notes of authorized
denominations. Any portion of a Global Note transferred pursuant to this Section 2.3 shall be executed, authenticated and delivered only
in denominations of $2,000 and integral multiples of $1,000 in excess thereof and registered in such names as the Depositary shall direct.
Any Definitive Note delivered in exchange for an interest in a Global Note that is a Transfer Restricted Note shall, except as otherwise
provided by Section 2.2(e) of this Appendix A, bear the Restricted Notes Legend.

 

(c)                
The registered Holder of a Global Note may grant proxies and otherwise authorize any Person, including Agent Members and
Persons that may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the
Notes.

 

(d)               
In the event of the occurrence of any of the events specified in Section 2.3(a) of this Appendix A, the Company shall
promptly make available to the Trustee a reasonable supply of Definitive Notes in fully registered form without interest coupons.

 

    8

     

    

 

EXHIBIT A

 

[FORM OF FACE OF NOTE]

 

[Insert the Restricted Notes
Legend, if applicable, pursuant to the provisions of the Indenture]

 

[Insert the Global Notes Legend,
if applicable, pursuant to the provisions of the Indenture]

 

[Insert the Definitive Notes
Legend, if applicable, pursuant to the provisions of the Indenture]

 

[Insert the ERISA Legend, if
applicable, pursuant to the provisions of the Indenture]

 

    A-1

     

    

 

CUSIP [             ]

ISIN [              ]1

 

 

 

[RULE 144A][REGULATION S][IAI][GLOBAL] NOTE

 

5.125% Senior Notes due 2030

  

	No. [RA-__] [RS-__][RIAI- ]	 	 	[Up to]2 [$______________]	 

   

ADAPTHEALTH LLC

  

promises to pay to [CEDE & CO.]3
[_______________] or registered assigns the principal sum [set forth on the Schedule of Exchanges of Interests in the Global Note attached
hereto]4 [of $_______ (_______ Dollars)]5
on March 1, 2030.

 

Interest Payment Dates: March 1 and September 1

 

Record Dates: February 15 and August 15

 

 

  

1 Rule 144A Note CUSIP: 00653V AE1

Rule 144A Note ISIN: US00653VAE11

Regulation S Note CUSIP: U0060V AC9

Regulation S Note ISIN: USU0060VAC91

IAI Note CUSIP: 00653V AF8

IAI Note ISIN: US00653VAF85

 

2 Include in Global Notes.

3 Include in Global Notes

4 Include in Global Notes

5 Include in Definitive Notes

 

    A-2

     

    

 

IN WITNESS HEREOF, the Company has caused this instrument to be duly
executed.

 

Dated:

 

	 	ADAPTHEALTH LLC 
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    A-3

     

    

   

CERTIFICATE OF AUTHENTICATION

 

This is one of the Notes referred to in the within-mentioned Indenture:

 

 

 

	 	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
	 	 
	 	By:	 
	 	 	Authorized Signatory
	 	 	 

  

Dated:

 

    A-4

     

    

 

[Reverse Side of Note]

 

5.125% Senior Notes due 2030

 

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

 

1.       INTEREST.
AdaptHealth LLC, a Delaware limited liability company (the “Company”), promises to pay interest on the principal amount
of this Note at 5.125% per annum until but excluding maturity. The Company shall 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 shall accrue from the most recent date to which interest has been paid or, if no interest has
been paid, from and including [__________] [__], 20[__]; provided that the first Interest Payment Date shall be [__________] [__],
20[__]. The Company shall 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 the interest rate on the Notes to the extent lawful; it shall 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 interest rate on the Notes to the extent lawful. Interest shall be computed on the basis
of a 360-day year comprised of twelve 30-day months.

 

2.       METHOD
OF PAYMENT. The Company shall pay interest on the Notes to the Persons who are registered Holders at the close of business on February
15 and August 15 (whether or not a Business Day), as the case may be, immediately preceding the related 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 2.12 of the
Indenture with respect to defaulted interest. Principal, premium, if any, and interest on the Notes shall be payable at the office or
agency of the Company maintained for such purpose or, at the option of the Company, payment of interest and premium, if any, may be made
by check mailed to the Holders at their respective addresses set forth in the Note Register; provided that payment by wire transfer
of immediately available funds shall be required with respect to principal, premium, if any, and interest on all Global Notes and all
other Notes the Holders of which shall have provided wire transfer instructions to the Company or the Paying Agent at least five Business
Days prior to the applicable payment date. Such payment shall be in such coin or currency of the United States as at the time of payment
is legal tender for payment of public and private debts.

 

3.       PAYING
AGENT AND REGISTRAR. Initially, The Bank of New York Mellon Trust Company, N.A., the Trustee under the Indenture, shall act as Paying
Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to the Holders. The Company or any of its Restricted
Subsidiaries may act in any such capacity.

 

4.       INDENTURE.
The Company issued the Notes under an Indenture, dated as of August 19, 2021 (as amended or supplemented from time to time, the “Indenture”),
among AdaptHealth LLC, the other Guarantors named therein and the Trustee. This Note is one of a duly authorized issue of Notes of the
Company designated as its 5.125% Notes due 2030. The Company shall be entitled to issue Additional Notes pursuant to Section 2.01
and 4.09 of the Indenture. The Notes and any Additional Notes issued under the Indenture shall be treated as a single class of securities
under the Indenture. The terms of the Notes include those stated in the Indenture. The Notes are subject to all such terms, and Holders
are referred to the Indenture for a statement of such terms. Any term used in this Note that is defined in the Indenture shall have the
meaning assigned to it in the Indenture. 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.

 

5.       REDEMPTION
AND REPURCHASE. The Notes are subject to optional redemption, and may be the subject of certain repurchase events, as further described
in the Indenture. The Company shall not be required to make mandatory redemption or sinking fund payments with respect to the Notes.

 

6.       DENOMINATIONS,
TRANSFER, EXCHANGE. The Notes are in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in
excess thereof. 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 Holders shall
be required to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the
transfer of any Note or portion of a Note selected for redemption or tendered for repurchase in connection with a Change of Control
Offer or Asset Sale Offer, except for the unredeemed portion of any Note being redeemed or repurchased in part.

 

    A-5

     

    

 

7.       PERSONS
DEEMED OWNERS. The registered Holder may be treated as its owner for all purposes.

 

8.       AMENDMENT,
SUPPLEMENT AND WAIVER. The Indenture, the Guarantees or the Notes may be amended or supplemented as provided in the Indenture.

 

9.       DEFAULTS
AND REMEDIES. The Events of Default relating to the Notes are defined in Section 6.01 of the Indenture. Upon the occurrence of an Event
of Default, the rights and obligations of the Company, the Guarantors, the Trustee and the Holders shall be as set forth in the applicable
provisions of the Indenture.

 

10.       AUTHENTICATION.
This Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose until authenticated by the
manual or electronic signature of the Trustee.

 

11.       GOVERNING
LAW. THIS NOTE WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

12.       CUSIP
AND ISIN NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company
has caused CUSIP and ISIN numbers to be printed on the Notes, and the Trustee may use CUSIP and ISIN 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.

 

The Company shall furnish to any Holder upon written
request and without charge a copy of the Indenture. Requests may be made to the Company at the following address:

 

c/o AdaptHealth LLC

220 West Germantown Pike Suite 250

Plymouth Meeting, Pennsylvania 19462

Email: cjoyce@adapthealth.com

Attention: Christopher Joyce

 

    A-6

     

    

 

 

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 Company. 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-7

     

    

 

CERTIFICATE TO BE DELIVERED UPON EXCHANGE OR 

REGISTRATION OF TRANSFERS OF TRANSFER RESTRICTED NOTES

 

This certificate relates to $_________ principal amount of Notes held
in (check applicable space) ____ book-entry or _____ definitive form by the undersigned.

 

The undersigned (check one box below):

 

		  ̈	has requested the Trustee by written order
to deliver in exchange for its beneficial interest in a Global Note held by the Depositary a Note or Notes in definitive, registered form
of authorized denominations and an aggregate principal amount equal to its beneficial interest in such Global Note (or the portion thereof
indicated above) in accordance with the Indenture; or
	 	 	 
	 	  ̈	has requested the Trustee by written order
to exchange or register the transfer of a Note or Notes.

 

 

In connection with any transfer of any of the Notes evidenced by this
certificate, the undersigned confirms that such Notes are being transferred in accordance with its terms:

 

CHECK ONE BOX BELOW

 

		(1)	  ̈	to the Company or subsidiary thereof; or

 

		(2)	  ̈	to the Registrar for registration in the name of the Holder, without transfer; or

 

		(3)	  ̈	pursuant to an effective registration statement under the Securities Act of 1933, as amended (the “Securities Act”);
or

 

		(4)	  ̈	to a Person that the undersigned reasonably believes is a “qualified institutional buyer” (as defined in Rule 144A
under the Securities Act (“Rule 144A”)) that purchases for its own account or for the account of a qualified institutional
buyer and to whom notice is given that such transfer is being made in reliance on Rule 144A, in each case pursuant to and in compliance
with Rule 144A; or

 

		(5)	  ̈	pursuant to offers and sales to non-U.S. persons that occur outside the United States within the meaning of Regulation S under the
Securities Act (and if the transfer is being made prior to the expiration of the Distribution Compliance Period, the Notes shall be held
immediately thereafter through Euroclear or Clearstream); or

 

		(6)	  ̈	to an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act) that
has furnished to the Trustee a signed letter containing certain representations and agreements; or

 

		(7)	  ̈	pursuant to Rule 144 under the Securities Act; or

 

		(8)	  ̈	pursuant to another available exemption from registration under the Securities Act.

 

Unless one of the boxes is checked, the Trustee will refuse
to register any of the Notes evidenced by this certificate in the name of any Person other than the registered Holder thereof; provided,
however, that if box (5), (6), (7) or (8) is checked, the Company or the Trustee may require, prior to registering any such
transfer of the Notes, such legal opinions, certifications and other information as the Company or the Trustee has reasonably requested
to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration requirements
of the Securities Act.

 

    A-8

     

    

 

	 	 	 	

	 	 	 	Your Signature
	 	 	 	 
	Date:		 	

	 	 	 	Signature of Signature

Guarantor
	 	 	 	 

TO BE COMPLETED BY PURCHASER IF (4) ABOVE IS CHECKED.

 

The undersigned represents and warrants that it is
purchasing this Note for its own account or an account with respect to which it exercises sole investment discretion and that it and any
such account is a “qualified institutional buyer” within the meaning of Rule 144A, and is aware that the sale to it is
being made in reliance on Rule 144A and acknowledges that it has received such information regarding the Company as the undersigned
has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is
relying upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A.

 

	Dated:		 	

	 	 	 	
    NOTICE: To be executed by

                      an executive officer

    Name:

    Title:

     

 

	Signature Guarantee*:	 	 

 

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

 

    A-9

     

    

 

TO BE COMPLETED IF THE HOLDER REQUIRES AN
EXCHANGE FROM A
 REGULATION S GLOBAL NOTE TO AN UNRESTRICTED GLOBAL NOTE,
 PURSUANT TO SECTION 2.2(d)(iii) OF
APPENDIX A TO THE INDENTURE 6

 

The undersigned represents and warrants that either:

 

	 ̈	the undersigned is not a dealer (as defined in the Securities
Act) and is a non-U.S. person (within the meaning of Regulation S under the Securities Act); or

 

	 ̈	the undersigned is not a dealer (as defined in the Securities
Act) and is a U.S. person (within the meaning of Regulation S under the Securities Act) who purchased interests in the Notes pursuant
to an exemption from, or in a transaction not subject to, the registration requirements under the Securities Act; or

 

	 ̈	the undersigned is a dealer (as defined in the Securities Act)
and the interest of the undersigned in this Note does not constitute the whole or a part of an unsold allotment to or subscription by
such dealer for the Notes.

 

	Dated: 	 	 	

	 	 	 	Your Signature

 

 

6 Include only for Regulation S Global Notes.

 

    A-10

     

    

 

OPTION OF HOLDER TO ELECT PURCHASE

 

If you want to elect to have this Note purchased
by the Company pursuant to Section 4.10 or Section 4.15 of the Indenture, check the appropriate box below:

 

[   ] Section 4.10 [   ]
Section 4.15

 

If you want to elect to have only part of this Note
purchased by the Company pursuant to Section 4.10 or Section 4.15 of the Indenture, state the amount you elect to have purchased:

 

		$_______________	(integral multiples of $1,000;

provided that the unpurchased

portion must be in a minimum

principal amount of $2,000)

 

Date: _____________________

 

Your Signature: ____________________________________

(Sign exactly as your name appears on the face of this Note)

Tax Identification No.: 

 

Signature Guarantee*: __________________________________

 

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

 

    A-11

     

    

 

SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL
NOTE*

 

The initial outstanding principal amount of this
Global Note is $__________. 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 signatory of Trustee, Depositary or Custodian

	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

 

__________________

*This schedule should be included only if the Note is issued in global form.

 

    A-12

     

    

 

EXHIBIT B

 

FORM OF

TRANSFEREE LETTER OF REPRESENTATION

 

AdaptHealth LLC

220 West Germantown Pike Suite 250

Plymouth Meeting, Pennsylvania 19462

Email: cjoyce@adapthealth.com

Attention: Chris Joyce

 

Ladies and Gentlemen:

 

This certificate is delivered to request a transfer
of $[_______] principal amount of the 5.125% Senior Notes due 2030 (the “Notes”) of AdaptHealth LLC (the “Company”).

 

Upon transfer, the Notes would be registered in
the name of the new beneficial owner as follows:

 

Name:________________________

 

Address:______________________

 

Taxpayer ID Number:____________

 

The undersigned represents and warrants to you
that:

 

1. We are an institutional “accredited investor”
(as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933, as amended (the “Securities Act”)),
purchasing for our own account or for the account of such an institutional “accredited investor” at least $250,000 principal
amount of the Notes, and we are acquiring the Notes, for investment purposes and not with a view to, or for offer or sale in connection
with, any distribution in violation of the Securities Act. We have such knowledge and experience in financial and business matters as
to be capable of evaluating the merits and risks of our investment in the Notes, and we invest in or purchase securities similar to the
Notes in the normal course of our business. We, and any accounts for which we are acting, are each able to bear the economic risk of our
or its investment.

 

2. We understand that the Notes have not been registered
under the Securities Act and, unless so registered, may not be sold except as permitted in the following sentence. We agree on our own
behalf and on behalf of any investor account for which we are purchasing Notes to offer, sell or otherwise transfer such Notes prior to
the date that is one year after the later of the date of original issue and the last date on which the Company or any affiliate of the
Company was the owner of such Notes (or any predecessor thereto) (the “Resale Restriction Termination Date”) only in
accordance with the Restricted Notes Legend (as such term is defined in the indenture under which the Notes were issued) on the Notes
and any applicable securities laws of any state of the United States. The foregoing restrictions on resale will not apply subsequent to
the Resale Restriction Termination Date. If any resale or other transfer of the Notes is proposed to be made pursuant to clause (e)
above prior to the Resale Restriction Termination Date, the transferor shall deliver a letter from the transferee substantially in the
form of this letter to the Company and the Trustee, which shall provide, among other things, that the transferee is an institutional “accredited
investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act and that it is acquiring such Notes
for investment purposes and not for distribution in violation of the Securities Act. Each purchaser acknowledges that the Company and
the Trustee reserve the right prior to the offer, sale or other transfer prior to the Resale Restriction Termination Date of the Notes
with respect to applicable transfers described in the Restricted Notes Legend to require the delivery of an opinion of counsel, certifications
and/or other information satisfactory to the Company and the Trustee.

 

		TRANSFEREE:	 

 

		by:	 

 

    B-1

     

    

 

EXHIBIT C

 

FORM OF SUPPLEMENTAL INDENTURE

TO BE DELIVERED BY SUBSEQUENT GUARANTORS

 

Supplemental Indenture (this “Supplemental
Indenture”), dated as of [__________] [__], 20[__], among __________________ (the “Guaranteeing Subsidiary”),
a subsidiary of AdaptHealth LLC, a Delaware limited liability company (the “Company”), the Company, and The Bank of
New York Mellon Trust Company, N.A., as trustee (the “Trustee”).

 

W I T N E S S E T H

 

WHEREAS, each of the Company and the Guarantors (as
defined in the Indenture referred to below) has heretofore executed and delivered to the Trustee an indenture (the “Indenture”),
dated as of August 19, 2021, providing for the issuance of an unlimited aggregate principal amount of 5.125% Senior Notes due 2030 (the
 “Notes”);

 

WHEREAS, the Indenture provides that under certain
circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental indenture pursuant to which the Guaranteeing
Subsidiary shall unconditionally Guarantee all of the Company’s Obligations under the Notes and the Indenture on the terms and conditions
set forth herein and under the Indenture; and

 

WHEREAS, pursuant to Section 9.01 of the Indenture,
the Trustee is authorized to execute and deliver this Supplemental Indenture.

 

NOW THEREFORE, in consideration of the foregoing
and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties mutually covenant and agree for
the equal and ratable benefit of the Holders as follows:

 

1.       Capitalized
Terms. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

 

2.       Guarantor.
The Guaranteeing Subsidiary hereby agrees to be a Guarantor under the Indenture and to be bound by the terms of the Indenture applicable
to Guarantors, including Article 11 thereof.

 

3.       Governing
Law. THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

4.       Waiver
of Jury Trial. EACH OF THE GUARANTEEING SUBSIDIARY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS SUPPLEMENTAL INDENTURE, THE INDENTURE,
THE NOTES, THE NOTE GUARANTEES OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.

 

5.       Counterparts;
Electronic Delivery. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original,
but all of them together represent the same agreement. The exchange of copies of this Supplemental Indenture and of signature pages by
facsimile or portable document format (“PDF”) transmission shall constitute effective execution and delivery of this
Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures
of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. The words “execution,”
 “signed,” “signature,” “delivery” and words of like import in or relating to this Supplemental Indenture
or any document to be signed in connection with this Supplemental Indenture shall be deemed to include electronic signatures, deliveries
or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually
executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, and the parties hereto
consent to conduct the transactions contemplated hereunder by electronic means.

 

    C-1

     

    

 

6.       Headings.
The headings of the Sections of this Supplemental Indenture have been inserted for convenience of reference only, are not to be considered
a part of this Supplemental Indenture and shall in no way modify or restrict any of the terms or provisions hereof.

 

    C-2

     

    

 

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

 

 

	 	[NAME OF GUARANTEEING SUBSIDIARY]
	 	 
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	 	ADAPTHEALTH LLC
	 	 
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	 	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
	 	 
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    C-3Exhibit 10.1

 

SECOND AMENDMENT

 

THIS
SECOND AMENDMENT (this “Amendment”) dated as of August 16, 2021, to the Credit Agreement referenced below is
by and among ADAPTHEALTH INTERMEDIATE HOLDCO LLC, a Delaware limited liability company (“Intermediate
Holdings”), AdaptHealth LLC, a Delaware limited liability company (the “Borrower”),
certain Subsidiaries of the Borrower from time to time party thereto, as Guarantors, the Lenders from time to time party thereto, and
REGIONS BANK, as administrative agent (in such capacity, the “Administrative Agent”).

 

W I T N E S S
E T H

 

WHEREAS,
revolving credit and term loan facilities have been extended to the Borrower pursuant to that certain Credit Agreement dated as of January 20,
2021 (as amended, restated, increased, extended, supplemented or otherwise modified from time to time, the “Credit Agreement”)
by and among the Borrower, Intermediate Holdings, the Guarantors identified therein, the Lenders identified therein and the Administrative
Agent and Collateral Agent; and

 

WHEREAS,
Borrower has requested certain modifications to the Credit Agreement and the Lenders have agreed to such modifications to the Credit
Agreement on the terms and conditions set forth herein.

 

NOW,
THEREFORE, IN CONSIDERATION of the premises and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows:

 

1.             Defined
Terms. Capitalized terms used herein but not otherwise defined herein shall have the meanings provided to such terms in the Credit
Agreement, as amended hereby.

 

2.             Amendments
to Credit Agreement.

 

2.1           The
following definition is hereby inserted in Section 1.1 of the Credit Agreement in the appropriate alphabetical order:

 

“2030
Senior Notes” means the 5.125% Senior Notes due 2030 issued by the Borrower on August 19, 2021 in the aggregate principal
amount of $600,000,000.

 

2.2           The
following definitions in Section 1.1 of the Credit Agreement are amended and restated in its entirety to read as follows:

 

“Consolidated
Funded Indebtedness” means, as of any date of determination, the Funded Indebtedness of the Consolidated Group on a consolidated
basis determined in accordance with GAAP as of such date less the amount of unrestricted (unless “restricted” in favor of
the Obligations) and unencumbered cash and Cash Equivalents on such date (the aggregate amount of which shall not exceed: (a) $300,000,000
for the Fiscal Quarter ending September 30, 2021; (b) $250,000,000 for the Fiscal Quarter ending December 31, 2021; and
(c) $100,000,000 for each other Fiscal Quarter during the term of this Agreement).

 

“Existing
Senior Notes” means (a) the 2028 Senior Notes, (b) the 2029 Senior Notes and (c) the 2030 Senior Notes.

 

     

     

    

 

2.3          Section 8.6(g) of
the Credit Agreement is hereby rested in its entirety to read as follows:

 

“the
Borrower may make Restricted Payments to pay the Preferred Note with the proceeds from the issuance of the 2030 Senior Notes;”

 

3.             Conditions
Precedent. This Amendment shall become effective as of the date hereof upon receipt by the Administrative Agent of executed counterparts
of this Amendment properly executed by an Authorized Officer of each Loan Party, the Lenders and the Administrative Agent.

 

4.             Amendment
is a “Loan Document”. This Amendment is a Loan Document and all references to a “Loan Document” in the Credit
Agreement and the other Loan Documents (including, without limitation, all such references in the representations and warranties in the
Credit Agreement and the other Loan Documents) shall be deemed to include this Amendment.

 

5.             Representations
and Warranties; No Default. Each Loan Party represents and warrants to the Administrative Agent and the Lenders that, on and as of
the date hereof, immediately after giving effect to this Amendment, (a) the representations and warranties contained in Section 6
of the Credit Agreement and in the other Loan Documents are true and correct in all material respects (except to the extent such representation
or warranty is already qualified by materiality in which case such representation and warranty is true and correct in all respects) on
and as of the date hereof, except to the extent such representations and warranties specifically refer to an earlier date, in which case
such representations and warranties are true and correct in all material respects (except to the extent such representation or warranty
is already qualified by materiality in which case such representation and warranty is true and correct in all respects) on and as of
such earlier date, and (b) no event has occurred and is continuing which constitutes an Event of Default or a Default.

 

6.             Reaffirmation
of Obligations. Each Loan Party (a) acknowledges and consents to all of the terms and conditions of this Amendment, (b) affirms
all of its obligations under the Loan Documents and (c) agrees that this Amendment and all documents, agreements and instruments
executed in connection with this Amendment do not operate to reduce or discharge such Loan Party’s obligations under the Loan Documents.

 

7.             Reaffirmation
of Security Interests. Each Loan Party (a) affirms that each of the Liens granted in or pursuant to the Loan Documents are valid
and subsisting and (b) agrees that this Amendment and all documents, agreements and instruments executed in connection with this
Amendment do not in any manner impair or otherwise adversely affect any of the Liens granted in or pursuant to the Loan Documents.

 

8.             No
Other Changes. Except as modified hereby, all of the terms and provisions of the Loan Documents shall remain in full force and effect.

 

9.             Counterparts/Facsimile.
This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute
an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature
page of this Amendment by telecopy or other electronic imaging means (e.g. “pdf” or “tif” format) shall
be effective as delivery of a manually executed counterpart of this Amendment.

 

10.           Governing
Law. This Amendment shall be deemed to be a contract made under, and for all purposes shall be construed in accordance with, the
laws of the State of New York.

 

[SIGNATURE
PAGES FOLLOW]

 

    2

     

    

 

IN
WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this Second Amendment to be duly executed and delivered as of
the date first above written.

 

	BORROWER:	AdaptHealth
                                            LLC,
	 	a
                                            Delaware limited liability company
	 	 
	 	By:	/s/ Christopher
               J. Joyce
	 	Name:
                                            Christopher J. Joyce
	 	Title:
                                            Vice President and Secretary

 

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	Guarantors:	ACTIVSTYLE, LLC, a Minnesota limited
    liability company
	 	AdaptHealth
    Intermediate Holdco LLC, a Delaware limited liability company
	 	ADAPTHEALTH - MISSOURI LLC, a Missouri
    limited liability company
	 	ADAPTHEALTH NEW ENGLAND LLC, a Delaware
    limited liability company
	 	ADAPTHEALTH PATIENT CARE SOLUTIONS
    LLC, a Pennsylvania limited liability company
	 	ADVOCATE MEDICAL SERVICES, LLC a Florida
    limited liability company
	 	AIRCARE HOME RESPIRATORY, LLC, a California
    limited liability company
	 	ALL AMERICAN HOME AID, LLC, a Massachusetts
    limited liability company
	 	AMERICAN ANCILLARIES, INC., a
    Nevada corporation
	 	AMERICOAST MARYLAND LLC, a Delaware
    limited liability company
	 	ASSOCIATED HEALTHCARE SYSTEMS, INC.,
    a New York corporation
	 	BENNETT MEDICAL SERVICES LLC, a Nevada
    limited liability company
	 	BRADEN PARTNERS, L.P., a California
    limited liability partnership
	 	CHAMPLAIN VALLEY BRACE AND LIMB, L.L.C.,
    a New York limited liability company
	 	CHOICE MEDICAL HEALTH CARE, LLC, a
    Illinois limited liability company
	 	CLEARVIEW MEDICAL INCORPORATED, a
    Texas corporation
	 	 
	 	By:	/s/
    Christopher J. Joyce
	 	Name: Christopher J. Joyce
	 	Title: Vice President and Secretary

 

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	Guarantors
    (Continued):	CPAP2ME, INC., a Delaware corporation
	 	DM ACQUISITION SUB LLC, a Delaware
    limited liability company
	 	FAMILY HOME MEDICAL SUPPLY LLC, a
    Pennsylvania limited liability company
	 	FAMILY MEDICAL SUPPLY, LLC, a North
    Carolina limited liability company
	 	FIRST CHOICE DME LLC, a Delaware limited
    liability company
	 	FIRST CHOICE HOME MEDICAL EQUIPMENT,
    LLC, a Delaware limited liability company
	 	FLORIDA HOME MEDICAL SUPPLY, LLC,
    a Florida limited liability company
	 	GOULD’S DISCOUNT MEDICAL, LLC,
    a Kentucky limited liability company
	 	HALPRIN, INCORPORATED, a New
    York corporation
	 	HEALTH SOLUTIONS LLC, a Pennsylvania
    limited liability company
	 	HEALTHLINE MEDICAL EQUIPMENT, LLC,
    a Texas limited liability company
	 	HOME MEDICAL EXPRESS, INC., a
    New York corporation
	 	HOME MEDISERVICE, LLC, a Maryland
    limited liability company
	 	HOME WELLNESS, LLC, a New Jersey limited
    liability company
	 	HOMETOWN HOME HEALTH, LLC, a Delaware
    limited liability company 
	 	HUEY’S HOME MEDICAL, LLC, a
    Delaware limited liability company
	 	J.M.R. MEDICAL, LLC, a Delaware limited
    liability company
	 	LMI DME HOLDINGS LLC, a Delaware limited
    liability company
	 	M.A.R.Y. MEDICAL, LLC, a California
    limited liability company
	 	 
	 	By:	/s/
    Christopher J. Joyce        
	 	Name: Christopher J. Joyce
	 	Title: Vice President and Secretary

 

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	Guarantors
    (Continued):	MED STAR SURGICAL & BREATHING
    EQUIPMENT INC., a New York corporation
	 	MED WAY MEDICAL, INC., a Utah
    corporation
	 	MED-EQUIP, INC., a Pennsylvania
    corporation
	 	MEDBRIDGE HOME MEDICAL LLC, a Delaware
    limited liability company
	 	MEDIDEX, LLC, a Missouri limited liability
    company
	 	MEDSTAR HOLDINGS LLC, a Delaware limited
    liability company
	 	NRE HOLDING LLC, a Delaware limited
    liability company
	 	OCEAN HOME HEALTH OF PA LLC, a Pennsylvania
    limited liability company
	 	OCEAN HOME HEALTH SUPPLY LLC, a New
    Jersey limited liability company
	 	OGLES OXYGEN, LLC, a South Carolina
    limited liability company
	 	ORBIT MEDICAL OF PORTLAND, INC.,
    a Utah corporation
	 	PAL-MED, LLC, a South Carolina limited
    liability company
	 	PALMETTO OXYGEN, LLC, a South Carolina
    limited liability company
	 	PPS HME HOLDINGS LLC, a Delaware limited
    liability company
	 	PPS HME LLC, a Delaware limited liability
    company
	 	RELY MEDICAL SUPPLY, LLC, a Colorado
    limited liability company
	 	ROBERTS HOME MEDICAL, LLC, a Maryland
    limited liability company
	 	ROYAL MEDICAL SUPPLY INC., a New Jersey
    corporation
	 	 
	 	By:	/s/
    Christopher J. Joyce
	 	Name: Christopher J. Joyce
	 	Title: Vice President and Secretary

 

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	Guarantors
    (Continued):	SENIOR CARE SERVICE, LLC, a Colorado
    limited liability company
	 	SKORO ENTERPRISES, LLC, a Texas limited
    liability company
	 	SLEEPEASY THERAPEUTICS, INC.,
    a North Dakota corporation
	 	SLEEP THERAPY, LLC, a Minnesota limited
    liability company
	 	SOLARA HOLDINGS, LLC, a Delaware limited
    liability company
	 	SOLARA INTERMEDIATE, LLC, a Delaware
    limited liability company
	 	SOLARA MEDICAL SUPPLIES, LLC, a California
    limited liability company
	 	SOUND OXYGEN SERVICE LLC, a Washington
    limited liability company
	 	TOTAL RESPIRATORY, LLC, a Delaware
    limited liability company
	 	TRICOUNTY MEDICAL EQUIPMENT AND SUPPLY,
    LLC, a Pennsylvania limited liability company
	 	VERUS HEALTHCARE LLC, a Delaware limited
    liability company
	 	VERUS HEALTHCARE, INC., a Delaware
    corporation
	 	 
	 	By:	/s/
    Christopher J. Joyce
	 	Name: Christopher J. Joyce
	 	Title: Vice President and Secretary

 

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ADAPTHEALTH LLC SECOND

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	Guarantors (Continued):	Aerocare
    Holdings, Inc., a Delaware corporation
	 	Accucare
    Medical Equipment, LLC, an Oklahoma limited liability company
	 	Aerocare
    Home Medical Equipment, Inc., a Missouri corporation
	 	Aerocare
    Home Medical Equipment, Inc., a Texas corporation
	 	Aerocare
    Home Medical, Inc., a Texas corporation
	 	Aerocare, Inc.,
    a Nevada corporation
	 	Aerocare
    Pharmacy, Inc., a Texas corporation
	 	All American
    Oxygen, Inc., a Kentucky corporation
	 	Allcare, Inc.,
    a Colorado corporation
	 	Beacon
    Respiratory Services, Inc., a Delaware corporation
	 	Care Plus
    Oxygen, Inc., a Pennsylvania corporation
	 	Aerocare
    Express Medical, LLC, a Delaware limited liability company
	 	Express
    Medical Supply, LTD, a Texas limited partnership
	 	Freedom
    Respiratory, INC., a Virginia corporation
	 	Home Respiratory
    Solution’s, INC., a Florida corporation
	 	Paul Home
    Oxygen Services, INC., a Colorado corporation
	 	Promise
    Medical, INC., a Texas corporation
	 	Southern
    Home Respiratory & Equipment, INC., a Virginia corporation
	 	 
	 	By:	/s/
    Christopher J. Joyce                                
	 	Name: Christopher J. Joyce
	 	Title: Vice President and Secretary

 

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	Guarantors (Continued):	The 3700
    Company, L.L.C., a Colorado limited liability company
	 	Twin Rivers
    Respiratory Care, INC., an Arkansas corporation
	 	Sunbelt
    Medical Supply & Oxygen, INC., a Florida corporation
	 	Pharmacy, Inc.
    Kentucky, a Kentucky corporation
	 	Pharmacy, INC.,
    a Delaware corporation
	 	Beacon
    Respiratory Services of Georgia, INC., a Delaware corporation
	 	Lovell
    Medical Supply, INC., a North Carolina corporation
	 	Trinity
    Healthcare of Winston-Salem, INC., a Georgia corporation
	 	M. Davis
    Management, INC., a Florida corporation
	 	Oxygen &
    Sleep Associates, INC., a Tennessee corporation
	 	All American
    Medical Services, INC., a Florida corporation
	 	Charlotte
    Respiratory Solutions INC., a North Carolina corporation
	 	AeroCare
    Employee Benefits, INC., a Florida corporation
	 	Lamar,
    LLC, a Florida limited liability company
	 	Skinny
    LLC, a Florida limited liability company
	 	Respiratory
    Home Care of Bristol, LLC, a Tennessee limited liability company
	 	Guardian
    Medical Inc, a Florida corporation
	 	Desloge
    Home Oxygen and Medical Equipment, Inc., a Florida corporation
	 	Reliable
    Medical of Conway, LLC, a South Carolina limited liability company
	 	Reliable
    Medical Equipment, LLC, a South Carolina limited liability company
	 	Patients
    First Medical Equipment of Spartanburg, LLC, a South Carolina limited liability company
	 	 
	 	By:	/s/
    Christopher J. Joyce             
	 	Name: Christopher J. Joyce
	 	Title: Vice President and Secretary

 

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	Guarantors
    (Continued):	Hometown
    Respiratory Consultants, Inc., a Tennessee corporation
	 	Louisville
    O2, INC., a Kentucky corporation
	 	Triad Respiratory
    Solutions, INC., a North Carolina corporation
	 	Bird &
    Bear Medical, Inc., an Arkansas corporation
	 	CPAPSUPPLY.COM, Inc.,
    a Texas corporation
	 	The Oxygen
    Company, Inc., a Virginia corporation
	 	Georgia
    Home Medical, INC., a Georgia corporation
	 	Georgia
    Home Medical - Columbus, INC., a Georgia corporation
	 	Edge Medical
    Supply, L.L.C., a Texas corporation
	 	BJ’s
    Wheelchair Service, INC., a Texas corporation
	 	T C Medical
    Supply, LLC, a Florida corporation
	 	McFarland
    Group, INC., a Tennessee corporation
	 	Atlantic
    Medical Supply, INC., a Florida corporation
	 	Total Homecare
    Corporation, a Virginia corporation
	 	Admeco, INC.,
    a Florida corporation
	 	Respracare, INC.,
    a North Carolina corporation
	 	Matrix
    Medical, LLC, a Florida corporation
	 	First Choice
    In-HomeCare, INC., a Virginia corporation
	 	American
    Preferred Home Medical, L.L.C., a Texas corporation
	 	Dream Care
    of Virginia, LLC, a Virginia limited liability company
	 	Southern
    Nevada Oxygen, INC., a Nevada corporation
	 	 
	 	By:	/s/
    Christopher J. Joyce
	 	Name: Christopher J. Joyce
	 	Title: Vice President and Secretary

 

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ADAPTHEALTH LLC SECOND

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	Guarantors
    (Continued):	Carmichaels
    Home Medical Equipment, INC., a Georgia corporation
	 	Lookout
    Medical Services, INC., a Tennessee corporation
	 	Resp-I-Care, INC.,
    a Tennessee corporation
	 	Health
    Products Plus, INC., a Georgia corporation
	 	Home Nursing
    Care, INC., a Virginia corporation
	 	Choice
    Respiratory & Medical Equipment, INC., a Virginia corporation
	 	Atlantic
    Medical, INC., a Virginia corporation
	 	Clay Home
    Medical, INC., a Virginia corporation
	 	Ameri-Quipt
    of North Carolina, INC., a North Carolina corporation 
	 	AirCare
    Home Medical, Inc., a Kentucky corporation
	 	American
    Home Medical, INC., a Florida corporation
	 	First Choice
    Medical Equipment, Inc., an Illinois corporation
	 	Loftis
    Home Medical, LLC, a North Carolina limited liability company
	 	Madison
    County Medical Equipment, Inc., an Iowa corporation
	 	Lehigh
    Valley Respiratory Care - Lancaster, INC., a Pennsylvania corporation
	 	Peach Home
    Health Care, INC., a Georgia corporation
	 	Medway
    Medical Equipment, LLC, a Texas limited liability company
	 	MME II,
    LLC, a Texas limited liability company
	 	Premier
    Home Care, INC., a Kentucky corporation
	 	Florida
    Home Cair, INC., a Florida corporation
	 	 
	 	By:	/s/
    Christopher J. Joyce
	 	Name: Christopher J. Joyce
	 	Title: Vice President and Secretary

 

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	Guarantors (Continued):	LCM Medical, INC.,
    a Florida corporation
	 	BestMED
    Respiratory, Inc., an Iowa corporation
	 	BuypapUSA.com, Inc.,
    an Oregon corporation
	 	Hurst Medical
    Equipment, Inc., a West Virginia corporation
	 	Parrish
    Home Medical, Inc., a South Carolina corporation
	 	Quality
    Respi-Care, INC., a Georgia corporation
	 	Medical
    Necessities and Services, LLC, a Tennessee limited liability company
	 	Kentucky
    Medical Supply, Inc., a Kentucky corporation
	 	Austin
    Respiratory Equipment, INC., a Florida corporation
	 	Home Care
    Medical, Inc., a Wisconsin corporation
	 	Cornerstone
    Medical Services of Columbus LLC, an Ohio limited liability company
	 	Cornerstone
    Medical Services -- Midwest, LLC, an Ohio limited liability company
	 	Legacy
    Medical LLC, an Ohio limited liability company
	 	Heartland
    Medical Equipment, Inc., a Missouri corporation
	 	B-Pharm, Inc.,
    a Missouri corporation
	 	GME Medical
    Supply, INC., a Virginia corporation
	 	Tricorex, INC.,
    a Missouri corporation
	 	Grace Medical, INC.,
    a Florida corporation
	 	Wolf Industries, Inc.,
    a Mississippi corporation
	 	Grace Healthcare
    DME INC., a Mississippi corporation
	 	Grace Healthcare, INC.,
    a Mississippi corporation
	 	 
	 	By:	/s/
    Christopher J. Joyce
	 	Name: Christopher J. Joyce
	 	Title: Vice President and Secretary

 

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ADAPTHEALTH LLC SECOND

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	Guarantors
    (Continued):	Grace Healthcare
    Internet Sales, INC., a Mississippi corporation
	 	Grace Healthcare
    Medical, INC., a Mississippi corporation
	 	Grace Medical
    Equipment, INC., an Alabama corporation
	 	Grace Healthcare
    Incorporated, a Louisiana corporation
	 	Mississippi
    HMA DME, LLC, a Mississippi limited liability company
	 	Prattville
    Medical Equipment, INC., an Alabama corporation
	 	Montgomery
    Medical Supply, INC., an Alabama corporation
	 	Medlogic
    Birmingham INC., an Alabama corporation
	 	Medlogic
    Anniston INC, an Alabama corporation
	 	Medical
    Logic, INC., an Alabama corporation
	 	Medical
    Logic Ft. Walton, INC., an Alabama corporation
	 	Breathe
    Grace Medical Supply, LLC, a Maryland limited liability company
	 	Vitacare,
    L.L.C. an Oklahoma limited liability company
	 	ABC Medical,
    LLC, a South Carolina limited liability company
	 	MedHome
    Specialty Services, LLC, a Mississippi limited liability company
	 	Ours CORPORATION,
    an Illinois corporation
	 	IV Care,
    LLC, a Missouri corporation
	 	Rocky Mountain
    Medical Equipment Inc., a Colorado corporation
	 	Rocky Mountain
    Medical Equipment, LLC, a Colorado corporation
	 	Major Medical
    Supply, LLC, a Colorado limited liability company
	 	Major Medical
    Supply of Denver, LLC, a Colorado limited liability company
	 	 
	 	By:	/s/
    Christopher J. Joyce
	 	Name: Christopher J. Joyce
	 	Title: Vice President and Secretary

 

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	Guarantors
    (Continued):	Major Medical
    Supply of Fort Collins, LLC, a Colorado limited liability company
	 	Major Medical
    Supply of Brighton LLC, a Colorado limited liability company
	 	Major Medical
    Supply of Colorado Springs LLC, a Colorado limited liability company
	 	Major Medical
    Supply of Greeley LLC, a Colorado limited liability company
	 	PVHS Home
    Medical Supply, LLC, a Colorado limited liability company
	 	Community
    Medical Supply, Inc., an Iowa corporation
	 	Oxygen
    One, INC., a Wisconsin corporation
	 	Quality
    Medical Services, INC., an Iowa corporation
	 	Manor Respiratory
    Care, INC., a Tennessee corporation
	 	Specialized
    Medical Devices, INC., an Alabama corporation
	 	Desert
    Ridge Rehabilitation & Health Center LLC, an Arizona limited liability company
	 	THH Acquisition
    LLC I, a Delaware limited liability company 
	 	Airway
    Oxygen, INC., a Michigan corporation 
	 	BHS, INC., a Kentucky corporation
	 	Hub’s
    Home Oxygen & Medical Supplies, INC., a Pennsylvania corporation
	 	CressCare
    Medical, INC., a Pennsylvania corporation
	 	Bluegrass
    Oxygen, INC., a Kentucky corporation
	 	New England
    Home Medical Equipment, LLC, a Massachusetts limited liability company
	 	 
	 	By:	/s/
    Christopher J. Joyce
	 	Name: Christopher J. Joyce
	 	Title: Vice President and Secretary

 

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	Guarantors
    (Continued):	Diabetes
    Supply Center of the Midlands, LLC, a Nebraska limited liability company
	 	Legacy
    HomeMedical LLC, a Utah limited liability company
	 	Pinnacle
    Medical Solutions, LLC, a Mississippi limited liability company
	 	Pinnacle
    Medical Solutions, INC., a Delaware corporation
	 	Diabetes
    Management and Supplies, L.L.C., a Louisiana limited liability company
	 	Diabetes
    Management Pharmacy, L.L.C., a Louisiana limited liability company
	 	 
	 	By:	/s/
    Christopher J. Joyce
	 	Name: Christopher J. Joyce
	 	Title: Vice President and Secretary

 

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ADAPTHEALTH LLC SECOND

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ADMINISTRATIVE
AGENT

 

	AND COLLATERAL AGENT:	REGIONS BANK
	 	 
	 	By: 	/s/ Ned Spitzer
	 	Name:	Ned Spitzer
	 	Title:	Managing Director

 

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ADAPTHEALTH LLC

SECOND AMENDMENT
TO CREDIT AGREEMENT

 

    

     

    

 

	LENDERS:	REGIONS BANK
	 	 
	 	By: 	/s/ Ned Spitzer
	 	Name:	Ned Spitzer
	 	Title:	Managing Director
	 	 	 
	 	CITIZENS
    BANK, N.A.
	 	 
	 	By:	/s/
    James Harbeson
	 	Name:	James Harbeson
	 	Title:	Director
	 	 
	 	fifth third
    bank, national association
	 	 
	 	By:	/s/ John McChesney
	 	Name:	John McChesney
	 	Title:	Director, VP
	 	 
	 	JPMorgan
    Chase Bank, N.A.
	 	 
	 	By:	/s/ Kristina Harbison
	 	Name:	Kristina Harbison
	 	Title:	Authorized Signer
	 	 
	 	KeyBank
    National Association
	 	 
	 	By:	/s/ Scott Klingbeil
	 	Name:	Scott Klingbeil
	 	Title:	Vice President
	 	 
	 	TRUIST
    BANK
	 	 
	 	By:	/s/ James W. Ford
	 	Name:	James W. Ford
	 	Title:	Managing Director
	 	 
	 	cit BANK,
    N.A.
	 	 
	 	By:	/s/ William Backus
	 	Name:	William Backus
	 	Title:	Director
	 	 
	 	Deutsche
    Bank AG New York Branch
	 	 
	 	By:	/s/ Joseph Devine
	 	Name:	Joseph Devine
	 	Title:	Managing Director
	 	 
	 	By:	/s/ Michael Busam
	 	Name:	Michael Busam 
	 	Title:	Managing Director

 

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	LENDERS (CONTINUED):	Hancock
    Whitney Bank
	 	 
	 	By:	/s/
    Megan Brearey
	 	Name:	Megan Brearey
	 	Title:	Senior Vice President
	 	 
	 	Royal Bank
    of Canada
	 	 
	 	By:	/s/ Mustafa Topiwalla 
	 	Name:	Mustafa Topiwalla
	 	Title:	Authorized Signatory
	 	 
	 	People’s
    United Bank, N.A.
	 	 
	 	By:	/s/ Donna J. Emhart
	 	Name:	Donna J. Emhart
	 	Title:	Senior Vice President
	 	 
	 	BancAlliance
    Inc
	 	 
	 	By:	Alliance Partners LLC, its Attorney-in Fact
	 	 	 
	 	By:	/s/ John Gray
	 	Name:	John Gray
	 	Title:	Executive Vice President
	 	 
	 	BankUnited,
    N.A.
	 	 
	 	By:	/s/ Craig Kincade
	 	Name:	Craig Kincade
	 	Title:	Senior Vice President
	 	 
	 	First Midwest
    Bank
	 	 
	 	By:	/s/ James A. Goody
	 	Name:	James A. Goody
	 	Title:	Senior Vice President
	 	 
	 	WEBSTER BANK, NATIONAL ASSOCIATION
	 	 
	 	By:	/s/ Josh Tang
	 	Name:	Josh Tang
	 	Title:	Vice President
	 	 
	 	Bank of
    America, N.A.
	 	 
	 	By:	/s/ Linda E.C.
    Alto
	 	Name:	Linda E.C. Alto
	 	Title:	Senior Vice President

 

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	LENDERS (CONTINUED):	Capital
    One, National Association
	 	 
	 	By:	/s/ Karen M. Dahlquist
	 	Name:	Karen M. Dahlquist
	 	Title:	Duly Authorized Signatory
	 	 
	 	First Horizon
    Bank
	 	 
	 	By:	/s/ Sameer Gupta
	 	Name:	Sameer Gupta
	 	Title:	Managing Director
	 	 
	 	Renasant
    Bank
	 	 
	 	By:	/s/ Alex Falgiano
	 	Name:	Alex Falgiano
	 	Title:	Managing Director
	 	 
	 	Synovus
    Bank
	 	 
	 	By:	/s/ Tejas Patel
	 	Name:	Tejas Patel
	 	Title:	Senior Manager
	 	 
	 	UBS AG,
    Stamford Branch
	 	 
	 	By:	/s/ Santiago Adrian
	 	Name:	Santiago Adrian
	 	Title:	Associate Director
	 	 
	 	By:	/s/ Dionne Robinson
	 	Name:	Dionne Robinson
	 	Title:	Associate Director
	 	 
	 	BANK OF
    THE WEST
	 	 
	 	By:	/s/ Michael Weinert
	 	Name:	Michael Weinert
	 	Title:	Director

 

ADAPTHEALTH LLC SECOND

AMENDMENT TO CREDIT AGREEMENT

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