Document:

Exhibit 10.1

 

EXECUTION VERSION

 

REGISTRATION RIGHTS AGREEMENT

 

THIS REGISTRATION RIGHTS AGREEMENT
(this “Agreement”), dated as of November 4, 2021, by and between Blue Apron Holdings, Inc., a Delaware corporation
(the “Company”), RJB Partners LLC, a Delaware limited liability company (the “RJB Purchaser”), and
Matthew B. Salzberg (the “Salzberg Purchaser” and, collectively with the RJB Purchaser, the “Purchasers”).
Capitalized terms used and not otherwise defined herein shall have the respective meanings assigned to them in the Purchase Agreement
(as defined below).

 

W I T N E S S E T H:

 

WHEREAS, the Company has conducted
the Rights Offering pursuant to the Rights Offering Registration Statement (File No. 333-259677), which became effective on September 30,
2021;

 

WHEREAS, as an inducement
and condition to the Company’s willingness to conduct the Rights Offering, the Company and the Purchasers entered into that certain
Purchase Agreement, dated as of September 15, 2021 (the “Purchase Agreement”);

 

WHEREAS, pursuant to the Purchase
Agreement, the Company agreed to sell (i) to the RJB Purchaser, the Backstopped Shares, the Backstopped Warrants, the Subsequent
PIPE Shares and the Subsequent PIPE Warrants and (ii) to the Salzberg Purchaser, the September PIPE Shares and September PIPE
Warrants; and

 

WHEREAS, pursuant to the Purchase
Agreement, the Company agreed to grant certain registration rights to (i) each of the Purchasers (including any of their Permitted
Transferees), with respect to (x) shares of Class A Common Stock held by such Purchaser or certain of its Affiliates as of the
date of the Purchase Agreement, (y) the PIPE Shares purchased by such Purchaser, and (z) the PIPE Warrant Shares issued or issuable
upon exercise of the PIPE Warrants by such Purchaser and (ii) the RJB Purchaser (including any of its Permitted Transferees), with
respect to (x) the Backstopped Shares and (y) the Backstopped Warrant Shares issued upon exercise of the Backstopped Warrants
by the RJB Purchaser; and

 

WHEREAS, in connection with
the consummation of the transactions contemplated by the Purchase Agreement, the parties desire to enter into this Agreement in order
to establish certain registration rights for the Purchasers as set forth below.

 

NOW, THEREFORE, in consideration
of the mutual covenants and agreements herein contained and other good and valid consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties to this Agreement hereby agree as follows:

 

Section 1. Certain Definitions.

 

In addition to the terms defined
elsewhere in this Agreement, the following terms shall have the following meanings:

 

“Affiliate”
of a Person shall mean any Person that directly, or indirectly through one or more intermediaries, Controls, or is Controlled by, or is
under common Control with, such other Person; for the purposes of this Agreement, the Company or its subsidiaries shall not be deemed
to be an Affiliate of any Purchaser.

 

“Agreement”
means this Registration Rights Agreement, including all amendments, modifications and supplements and any exhibits or schedules to any
of the foregoing, and shall refer to this Registration Rights Agreement as the same may be in effect at the time such reference becomes
operative.

 

“Business Day”
means any day that is not a Saturday, a Sunday or a day on which banks are required or permitted to be closed in the State of New York.

 

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

 

     

     

    

 

“Financing Agreement”
shall mean that certain Financing Agreement, dated as of October 16, 2020, by and among the LLC Subsidiary, the Company, certain
other subsidiaries of the Company party thereto as subsidiary guarantors, the lenders party thereto from time to time, and Blue Torch,
as administrative agent and collateral agent for such lenders, as amended by that certain Amendment No. 1 to Financing Agreement,
dated as of November 19, 2020, by and among the parties thereto, and that certain Amendment No. 2 to Financing Agreement, dated
as of May 5, 2021, by and among the parties thereto, as the same may be amended and/or restated from time to time.

 

“Holders”
means the RJB Holders and the Salzberg Holders.

 

“Lender Registration”
means a Registration Statement filed by the Company to register securities issued or issuable by the Company in connection with the Financing
Agreement.

 

“Permitted Transfer”
means with respect to any Registrable Securities any transfer of Registrable Securities in the manner permitted for such Registrable Securities
under clause (i), clause (1) or clause (2) of Section 8(a) of the Purchase Agreement.

 

“Permitted Transferee”
means any Person who receives Registrable Securities pursuant to a Permitted Transfer and executes a joinder to this Agreement in the
form attached hereto as Exhibit A.

 

“Person”
means an individual, corporation, partnership, association, joint stock company, limited liability company, joint venture, trust, governmental
entity, unincorporated organization or other legal entity.

 

“Prospectus”
means the prospectus or prospectuses (whether preliminary or final) included in any Registration Statement and relating to Registrable
Securities, as amended or supplemented and including all material incorporated by reference in such prospectus or prospectuses.

 

“Purchasers”
means the Persons named as such in the first paragraph of this Agreement.

 

“Registrable Securities”
means Class A Common Stock of the Company owned as of the date of the Purchase Agreement by the Holders, PIPE Shares, PIPE Warrant
Shares, Backstopped Shares and Backstopped Warrant Shares, and any other securities that may be acquired or issued upon exercise of the
PIPE Warrants or Backstopped Warrants or any other common equity securities of the Company issued as a dividend or distribution with respect
to, or in exchange for or in replacement of, such Class A Common Stock, the PIPE Shares, the PIPE Warrant Shares, the Backstopped
Shares and the Backstopped Warrant Shares, in each case held by the Holders. Equity securities will cease being Registrable Securities
when they are (i) sold by the holder thereof pursuant to Rule 144, (ii) eligible to be sold by the holder thereof pursuant
to Rule 144 and such sale can be made without restriction as to volume or manner of sale under Rule 144 unless the applicable
Holder has determined in good faith that the inclusion of such securities as “Registrable Securities” is reasonably necessary
or advisable to implement the Holders’ strategy with respect to selling such securities (for the avoidance of doubt, including the
price, quantum and time at which such securities may be sold) or (iii) sold pursuant to any offering registered under the Securities
Act (including, for the avoidance of doubt, under the Shelf Registration Statement).

 

“Registration Statement”
means any registration statement of the Company which covers any of the Registrable Securities pursuant to the provisions of this Agreement,
including the Prospectus, amendments and supplements to such Registration Statement, including post-effective amendments, all exhibits
and all documents incorporated by reference in such Registration Statement.

 

“RJB Holders”
means the RJB Purchaser, Joseph N. Sanberg and their Permitted Transferees.

 

“Salzberg Holders”
means the Salzberg Purchaser and his Permitted Transferees.

 

“SEC” means
the Securities and Exchange Commission or any successor agency.

 

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

 

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“Shares”
means any shares of Class A Common Stock and any other securities that may be issued after the date hereof in respect of, or in exchange
for such Class A Common Stock.

 

“Shelf Registration
Statement” means a “shelf” registration statement of the Company relating to a “shelf” offering in accordance
with Rule 415 of the Securities Act, or any similar rule that may be adopted by the SEC, pursuant to the provisions of Section 2(a) hereof
which covers all of the Registrable Securities held by the Holders, on an appropriate form under the Securities Act, and all amendments
and supplements to such registration statement, including post-effective amendments, in each case including the prospectus contained therein,
all exhibits thereto and all material incorporated by reference therein.

 

“Termination Date”
means the first date on which there are no Registrable Securities or there are no Holders.

 

“underwritten offering”
means a registered offering in which securities of the Company are sold to one or more underwriters pursuant to an underwriting agreement.

 

Section 2. Shelf Registration.

 

(a)            Required
Registration. The Company shall (i) cause a Shelf Registration Statement to be filed with the SEC within thirty (30) days after
the Backstop Closing Date and (ii) use commercially reasonable efforts to cause such Shelf Registration Statement to be declared
effective by the SEC as promptly as possible but in any event no later than ninety (90) days after the Backstop Closing Date (the “Shelf
Registration”). Each Holder agrees, severally but not jointly, to furnish to the Company (i) in writing, all information
with respect to such Holder that the Company reasonably deems required or advisable to be included in the Shelf Registration Statement
and any other information necessary to make any such information previously furnished to the Company by such Holder not misleading and
(ii) completed and executed selling shareholder questionnaires, powers of attorney, indemnities and other documents reasonably required
by the Company at least five (5) days prior to the anticipated filing date. Prior to filing the Shelf Registration Statement and
any amendments thereto with the SEC, the Company shall provide drafts thereof to each Purchaser and its respective counsel and each Purchaser
and its respective counsel shall be given a reasonable opportunity to review and comment upon such Shelf Registration Statement. The Shelf
Registration Statement, in the form in which it becomes effective, will conform in all material respects with the requirements of the
Securities Act and the rules and regulations of the SEC thereunder and will not contain an untrue statement of a material fact or
omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading. The Company agrees to use its commercially reasonable efforts to keep the Shelf Registration
Statement continuously effective for as long as the Holders hold any Registrable Securities. The Company further agrees, if necessary,
to promptly supplement or amend the Shelf Registration Statement, if required by the rules, regulations or instructions applicable to
the registration form used by the Company for such Shelf Registration Statement or by the Securities Act or by any other rules and
regulations thereunder for shelf registrations, and the Company agrees to furnish to the Holders copies of any such supplement or amendment
promptly after its being used or filed with the SEC.

 

(b)            Right
to Request Registration. Subject to the provisions hereof, at any time the Shelf Registration Statement covering all Registrable Securities
is not effective, other than as permitted in accordance with Section 4 hereof, and until the Termination Date, a Holder may at any
time request registration under the Securities Act for resale of Registrable Securities reasonably expected, in good faith, to have an
aggregate offering price of more than $15,000,000, net of selling expenses, or a lesser amount if such Registrable Securities constitute
all of the Registrable Securities then-held by the applicable Holder(s) (a “Demand Registration” and each Holder
who properly initiates such request shall be referred to individually as an “Initiating Holder” and collectively as
the “Initiating Holders”). Subject to Section 2(f) and Sections 4 and 5 below, the Company
shall (i) file a Registration Statement registering for resale such number of Registrable Securities as requested to be so registered
pursuant to this Section 2(b) (a “Demand Registration Statement”) within forty-five (45) days after
the Initiating Holders’ request therefor and (ii) use commercially reasonable efforts to cause such Demand Registration Statement
to be declared effective by the SEC as soon as practical thereafter. To the extent requested by the Initiating Holders, the Demand Registration
Statement shall allow the offer and sale of the Registrable Securities on a continuous basis pursuant to Rule 415 under the Securities
Act, unless the Company is not eligible to use a form which allows such offer and sale in which case the Demand Registration Statement
shall allow such offer and resale for so long a period as permitted by the Securities Act and the rules thereunder.

 

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(c)            Number
of and Restrictions on Demand Registrations. Subject to the limitations of Sections 2(b) and 4(a), the RJB Holders
collectively shall be entitled to effect up to four (4) Demand Registrations in the aggregate provided that no more than two
(2) Demand Registrations relating to Registrable Securities held by the RJB Holders in any 12-month period may be effected by any
RJB Holder, and the Salzberg Holders collectively shall be entitled to effect up to four (4) Demand Registrations relating to Registrable
Securities held by the Salzberg Holders in the aggregate, provided that no more than two (2) Demand Registrations in any 12-month
period may be effected by any Salzberg Holder. A Registration Statement shall not count as a permitted Demand Registration unless and
until it has become effective. Subject to Section 2(e), no Holder shall be entitled to request a Demand Registration (i) if
the Shelf Registration Statement is effective and not subject to suspension permitted under Section 4 hereof or (ii) if there
is an effective Demand Registration Statement which permits the offer and sale of the Registrable Securities on a continuous basis under
Rule 415. Further, no Holder shall be entitled to request a Demand Registration at any time when the Company is diligently pursuing
a primary or secondary underwritten offering.

 

(d)            Priority
on Demand Registrations. The Company may include securities other than Registrable Securities in a Demand Registration for any accounts
(including for the account of the Company) on the terms provided below; and if such Demand Registration is an underwritten offering, such
securities may be included only with the consent of the managing underwriters of such offering. If the managing underwriters of the requested
Demand Registration advise the Company and the Initiating Holder that in their opinion the number of securities proposed to be included
in the Demand Registration exceeds the number of securities which can be sold in such underwritten offering without materially delaying
or jeopardizing the success of the offering (including the price per share of any Shares proposed to be sold in such underwritten offering),
the Company shall include in such Demand Registration (i) first, the number of Registrable Securities that the Initiating Holder
proposes to sell, and (ii) second, the number of securities proposed to be included therein by any other Persons (including securities
to be sold for the account of the Company) allocated among such Persons in such manner as the Company may determine. If the number of
securities which can be sold is less than the number of securities proposed to be registered pursuant to clause (i) above by the
Initiating Holder, the number of securities to be sold shall be allocated to the Initiating Holder in their entirety.

 

(e)            Underwritten
Offerings. The Holders shall be entitled to request an underwritten offering or a block trade (i) in connection with a Demand
Registration, subject to the terms and conditions of this Section 2 or (ii) at any time that a Shelf Registration Statement
covering Registrable Securities is effective (a “Shelf Underwritten Offering”). The Company shall as promptly as reasonably
practicable (and in any event within twenty (20) days) amend or supplement any Shelf Registration Statement as may be necessary in order
to enable such Registrable Securities to be distributed pursuant to the Shelf Underwritten Offering and otherwise use its commercially
reasonable efforts to facilitate such Shelf Underwritten Offering, provided that, in the case of any Shelf Underwritten Offering,
the Holders agree to consult in good faith with the chief executive officer and/or chief financial officer of the Company regarding the
Company’s involvement in such Shelf Underwritten Offering and agree to consider in good faith any reasonable suggestions or comments
provided on a timely basis by such officer(s) with regard to the Company’s involvement in such Shelf Underwritten Offering
to such Holders, the managing underwriters, or their respective counsel. For the avoidance of doubt, a Shelf Underwritten Offering constitutes
a Demand Registration with respect to the applicable Holder. If any of the Registrable Securities are to be sold in an underwritten offering,
the Holders of a majority of the securities to be included in such offering shall select the managing underwriter or underwriters (which
shall be reasonably acceptable to the board of directors of the Company) to administer any such offering.

 

(f)            Effective
Period of Demand Registrations. Upon the date of effectiveness of any Demand Registration for an underwritten offering and if such
offering is priced promptly on or after such date, the Company shall use commercially reasonable efforts to keep such Demand Registration
Statement effective for sale on a continuous basis under Rule 415, or if such rule is unavailable to the Company, for a period
equal to one hundred eighty (180) days from such date (or such longer period as in the opinion of counsel for the underwriters a Prospectus
is required by law to be delivered in connection with sale of Registrable Securities by an underwriter or dealer) or such shorter period
which shall terminate when all of the Registrable Securities covered by such Demand Registration have been sold by the Initiating Holder.
If the Company shall withdraw any Demand Registration pursuant to Section 5 before the end of such period, the Initiating
Holder shall be entitled to a replacement Demand Registration which shall be subject to all of the provisions of this Agreement. A Demand
Registration shall not count against the limit on the number of such registrations set forth in Section 2(c) if (i) after
the applicable Registration Statement has become effective, such Registration Statement or the related offer, sale or distribution of
Registrable Securities thereunder becomes the subject of any stop order, injunction or other order or restriction imposed by the SEC or
any other governmental agency or court for any reason not attributable to the Initiating Holder or its Affiliates and such interference
is not thereafter eliminated so as to permit the completion of the contemplated distribution of Registrable Securities or (ii) in
the case of an underwritten offering, the conditions specified in the related underwriting agreement, if any, are not satisfied or waived
for any reason not attributable to the Initiating Holder or its Affiliates, and as a result of any such circumstances described in clause
(i) or (ii), less than seventy five percent (75%) of the Registrable Securities covered by the Registration Statement are sold by
the Initiating Holder pursuant to such Registration Statement.

 

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(g)            Prior
Agreements. The parties hereto agree that no demand registrations shall be requested or effected pursuant to Section 2.1 of that
certain Third Amended and Restated Investors’ Rights Agreement, by and among the Company and each of the parties listed on Schedule
A thereto (as the same may be amended and/or restated from time to time, the “Pre-IPO IRA”), while this Agreement remains
in effect.

 

Section 3. Piggyback Registrations.

 

(a)            Right
to Piggyback. Prior to the Termination Date, in the event the Shelf Registration Statement is not effective, whenever the Company
proposes to register any Shares under the Securities Act (other than on a registration statement on Form S-8, F-8, S-4 or F-4 or
pursuant to a Lender Registration), whether for its own account or for the account of one or more holders of securities, and the form
of registration statement to be used may be used for any registration of Registrable Securities (a “Piggyback Registration”),
the Company shall give written notice to the Holders of its intention to effect such a registration and, subject to Sections 3(b) and
3(c), shall include in such registration statement and in any offering of Shares to be made pursuant to that registration statement
all Registrable Securities with respect to which the Company has received a written request for inclusion therein from a Holder within
ten (10) days after such Holder’s receipt of the Company’s notice or, in the case of a primary offering, such shorter
time as is reasonably specified by the Company in light of the circumstances. The Company shall have no obligation to proceed with any
Piggyback Registration and may abandon, terminate and/or withdraw such registration for any reason at any time prior to the pricing thereof.
Any Holder may elect to withdraw its request for inclusion of Registrable Securities in any Piggyback Registration by giving written notice
to the Company of such request to withdraw at least five (5) days prior to the effectiveness of such Registration Statement or prior
to the pricing of the applicable offering. No registration effected under this Section 3 shall relieve the Company of its
obligations to effect any registration of the sale of Registrable Securities under Section 2(a) and no registration effected
pursuant to this Section 3 shall be deemed to have been effected pursuant to Section 2(b).

 

(b)            Priority
on Primary Piggyback Registrations. If a Piggyback Registration is initiated as a primary underwritten offering on behalf of the Company
and the managing underwriters advise the Company and the Holders (if any Holders have elected to include Registrable Securities in such
Piggyback Registration) that in their good faith opinion the number of securities proposed to be included in such offering exceeds the
number of securities which can be sold in such offering without materially delaying or jeopardizing the success of the offering (including
the price per security proposed to be sold in such offering), the Company shall include in such registration and offering (i) first,
the number of Shares that the Company proposes to sell, and (ii) second, the number of securities requested to be included therein
by holders of securities, including the Holders (if any Holders have elected to include Registrable Securities in such Piggyback Registration),
pro rata (as nearly as practicable) among all participating holders on the basis of the number of securities requested to be included
therein by all such holders or as such holders and the Company may otherwise agree.

 

(c)            Priority
on Secondary Piggyback Registrations. If a Piggyback Registration is initiated as an underwritten registration on behalf of (i) in
the case of an RJB Holder, a holder of securities other than an RJB Holder and (ii) in the case of a Salzberg Holder, a holder of
securities other than a Salzberg Holder, and in each case the managing underwriters advise the Company that in their good faith opinion
the number of securities proposed to be included in such registration exceeds the number of securities which can be sold in such offering
without materially delaying or jeopardizing the success of the offering (including the price per security proposed to be sold in such
offering), then the Company shall include in such registration (i) first, the number of securities requested to be included therein
by the holder(s) requesting such registration (including any Initiating Holders), (ii) second, the number of securities requested
to be included therein by other holders of securities including any other Holders (if any other Holders have elected to include Registrable
Securities in such Piggyback Registration), pro rata (as nearly as practicable) among participating holders on the basis of the number
of securities requested to be included therein by such holders or as such holders and the Company may otherwise agree and (iii) third,
the number of securities that the Company proposes to sell. For the avoidance of doubt, if a Piggyback Registration is effected pursuant
to this Section 3 by certain Holders with regard to a Demand Registration Statement resulting from a Demand Registration initiated
by one or more other Holders that are parties hereto, the underlying Demand Registration would still be deemed to have been effected for
the Initiating Holders.

 

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(d)            Selection
of Underwriters. If any Piggyback Registration is a primary or secondary underwritten offering, subject to the terms and conditions
of Section 2 hereof, the Company shall have the sole right to select the managing underwriter or underwriters to administer
any such offering.

 

(e)            Basis
of Participation. The Holders may not sell Registrable Securities in any offering pursuant to a Piggyback Registration unless it (i) agrees
to sell such Registrable Securities on the same basis provided in the underwriting or other distribution arrangements approved by the
Company and that apply to the Company and/or any other holders involved in such Piggyback Registration and (ii) completes and executes
all questionnaires, powers of attorney, indemnities, underwriting agreements, lockups and other documents required under the terms of
such arrangements.

 

(f)            Prior
Agreements. In the event that the Company has satisfied the registration, notice and/or similar requirements pertaining to a piggyback
or incidental registration in accordance with this Section 3, the parties hereto agree that any registration, notice and/or
similar requirements pertaining to such piggyback or incidental registration pursuant to the Pre-IPO IRA shall also be deemed to have
been satisfied.

 

Section 4. Suspension Periods.

 

(a)            Suspension
Periods. The Company may (i) delay the filing or effectiveness of a Registration Statement in conjunction with a Shelf Registration
or Demand Registration or (ii) prior to the pricing of any underwritten offering or other offering of Registrable Securities pursuant
to a Shelf Registration or Demand Registration, delay such underwritten or other offering (and, if it so chooses, withdraw any registration
statement that has been filed), but in each case described in clauses (i) and (ii) above, only if (A) the Company, by decision
of either its chief executive officer or its board of directors or similar governing body, determines in her or its reasonable and good
faith judgement (x) that proceeding with such an offering would require the Company to disclose material non-public information that
would not otherwise be required to be disclosed at that time and that the Company has, in the reasonable business judgment of its chief
executive officer, a valid business purpose to continue to retain as confidential or (y) that the registration or offering to be
delayed could, if not delayed, materially adversely affect any bona fide pending or proposed transaction that would be material to the
Company and its subsidiaries taken as a whole, including any debt or equity financing, any acquisition or disposition, any recapitalization
or reorganization or any other material transaction, whether due to commercial reasons, a desire to avoid premature disclosure of information
or any other reason or (B) the registration or offering to be delayed would, if not delayed, render the Company unable to comply
with requirements under the Securities Act or Exchange Act, the rules and regulations of the SEC, FINRA, or state securities authority,
or other applicable laws or the requirements of any securities exchange on which the Company’s securities are listed. Any period
during which the Company has delayed a filing, an effective date or an offering pursuant to this Section 4 is herein called
a “Suspension Period.” If pursuant to this Section 4 the Company delays or withdraws a Demand Registration
requested by the Holders, the Initiating Holders making the request shall be entitled to withdraw such request and, if they do so, such
request shall not count against the limitation on the number of such registrations set forth in Section 2. The Company shall
provide prompt written notice to participating Holders of the commencement and termination of any Suspension Period (and any withdrawal
of a registration statement pursuant to this Section 4), but shall not be obligated under this Agreement to disclose the reasons
therefor. Holders shall keep the existence of each Suspension Period confidential and refrain from making offers and sales of Registrable
Securities (and direct any other Persons making such offers and sales to refrain from doing so) during each Suspension Period under the
applicable Registration Statement. The Company may not commence a Suspension Period more than two (2) times during any twelve (12)
month-period. Each Suspension Period shall be in effect for no more than ninety (90) days and, in the aggregate, Suspension Periods may
not be in effect for more than one hundred and twenty (120) days in any twelve (12)-month period.

 

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(b)            Other
Lockups. Notwithstanding any other provision of this Agreement, the Company shall not be obligated to take any action hereunder that
would violate any lockup or similar restriction binding on the Company in connection with a prior or pending registration or underwritten
offering.

 

Section 5. Holdback Agreements.

 

The restrictions in this Section 5
shall apply to a Holder for as long as such Holder is the beneficial owner of any Registrable Securities, as determined pursuant to Rule 13d-3
and Rule 13d-5 of the Exchange Act. If the Company proposes to sell Shares or other securities convertible into or exchangeable for
(or otherwise representing a right to acquire) Shares in a primary underwritten offering pursuant to any registration statement under
the Securities Act, or if any other Person proposes to sell securities in a secondary underwritten offering, in each case in which the
Holders have been provided piggyback rights in accordance with Section 3 hereof, and if the managing underwriters for such
offering advise the Company (in which case the Company promptly shall notify the Holders) that a public sale or distribution of securities
outside such offering would materially adversely affect such offering, then, if requested by the Company, each Holder shall agree, severally
and not jointly, as contemplated in this Section 5, not to (and to cause Affiliates controlled by such Holder or under common
control with such Holder, not to) sell, transfer, pledge, issue, grant or otherwise dispose of, directly or indirectly (including by means
of any short sale), or request the registration of, any Registrable Securities (or any securities of any Person that are convertible into
or exchangeable for, or otherwise represent a right to acquire, any Registrable Securities) for a period (each such period, a “Holdback
Period”) beginning on the tenth day before the pricing date for the underwritten offering and extending through the earlier
of (i) the ninetieth day after such pricing date (subject to customary automatic extension in the event of the release of earnings
results of or material news relating to the Company) and (ii) such earlier day (if any) as may be designated for this purpose by
the managing underwriters for such offering (each such agreement of the Holders, a “Holdback Agreement”). Each Holdback
Agreement shall be in writing in form and substance satisfactory to the Company and the managing underwriters. Notwithstanding the foregoing,
(i) the Holders shall not be obligated to enter a Holdback Agreement unless the Company and each selling shareholder in such offering,
if any, also execute agreements substantially similar to such Holdback Agreement, (ii) the Holdback Period applicable to the Holders
shall not be longer than that which is applicable to any other holder of Shares and (iii) any agreement with the underwriters with
respect to a Holdback Period shall provide that the underwriters may not waive the holdback period for any other holder of Shares unless
it is similarly waived for the Holders. A Holdback Agreement shall not apply to (i) the exercise of any warrants or options to purchase
securities of the Company (provided that such restrictions shall apply with respect to the securities issuable upon such exercise),
(ii) any securities included in the underwritten offering giving rise to the application of this Section 5 or (iii) any
Permitted Transfer.

 

Section 6. Registration Procedures.

 

(a)            Whenever
a Holder requests that any Registrable Securities be registered pursuant to this Agreement or requests a Shelf Underwritten Offering,
the Company shall use commercially reasonable efforts to effect, as soon as practical as provided herein, the registration and the sale
of such Registrable Securities in accordance with the intended methods of disposition thereof, and, pursuant thereto, the Company shall,
as soon as practical as provided herein, use its commercially reasonable efforts to:

 

(i)            subject
to the other provisions of this Agreement, in accordance with the Securities Act and all applicable rules and regulations promulgated
thereunder, prepare and file with the SEC a Registration Statement with respect to such Registrable Securities and cause such Registration
Statement to become effective (unless it is automatically effective upon filing); provided, that before filing a Registration Statement
pursuant to this Agreement, the Company will furnish to counsel of the Holders in such offering copies of the registration statement,
any prospectus, and prospectus supplement, and such other documents proposed to be filed with the SEC as such Holders may reasonably request,
and the Company shall give the Holders and their counsel a reasonable opportunity to comment on such documents and keep such Holders reasonably
informed as to the registration process (and the Holders of the Registrable Securities covered by such Registration Statement shall have
the right to request that the Company modify any information contained in such Registration Statement pertaining to the Holders and the
Company will use its commercially reasonable efforts to address requests such Holders may reasonably propose);

 

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(ii)            prepare
and file with the SEC such amendments and supplements to such Registration Statement and the Prospectus used in connection therewith as
may be necessary to comply with the applicable requirements of the Securities Act and keep such Registration Statement effective for the
relevant period required hereunder, but no longer than is necessary to complete the distribution of the securities covered by such Registration
Statement, and to comply with the applicable requirements of the Securities Act with respect to the disposition of all the securities
covered by such Registration Statement during such period in accordance with the intended methods of disposition set forth in such Registration
Statement; provided, that before filing any amendments or supplements or any free writing prospectuses related thereto, the Company will
furnish to counsel of the Holders in such offering copies of the registration statement, any prospectus, and prospectus supplement, and
such other documents proposed to be filed with the SEC as such Holders may reasonably request, and the Company shall give the Holders
and their counsel a reasonable opportunity to comment on such documents and keep such Holders reasonably informed as to the registration
process (and the Holders of the Registrable Securities covered by such Registration Statement shall have the right to request that the
Company modify any information contained in such Registration Statement, amendment or supplement thereto pertaining to the Holders and
the Company will use its commercially reasonable efforts to address requests such Holders may reasonably propose);

 

(iii)            if
requested by the managing underwriters (if any) or the holders of a majority of the then outstanding Registrable Securities included in
such Registration Statement, promptly include in a prospectus supplement or post-effective amendment such information as the managing
underwriters (if any) or such holders may reasonably request in order to permit the intended method of distribution of such securities
and to make all required filings of such prospectus supplement or such post-effective amendment as soon as practicable after the Company
has received such request;

 

(iv)            obtain
the withdrawal of any order suspending the effectiveness of any Registration Statement, or the lifting of any suspension of the qualification
or exemption from qualification of any Registrable Securities for sale in any jurisdiction in the United States;

 

(v)            deliver,
without charge, such number of copies of the Registration Statement, preliminary and final Prospectus and any supplement or exhibit thereto
or documents incorporated therein as the Holders may reasonably request in order to facilitate the disposition of the Registrable Securities
of Holders covered by such Registration Statement in conformity with the requirements of the Securities Act, and the Company hereby consents
to the use of such Registration Statement, Prospectus and each amendment or supplement thereto by each of the selling Holders of Registrable
Securities and the underwriters or agents, if any, in connection with the offering and sale of the Registrable Securities covered thereby;

 

(vi)            register
or qualify such Registrable Securities under such other securities or blue sky laws as the Holders or underwriters reasonably request
and continue such registration or qualification in effect in such jurisdictions for as long as the applicable Registration Statement may
be required to be kept effective under this Agreement (provided that the Company will not be required to (A) qualify generally
to do business in any jurisdiction where it would not otherwise be required to qualify but for this subparagraph (v), (B) subject
itself to taxation in any such jurisdiction or (C) consent to general service of process in any such jurisdiction);

 

(vii)            notify
the Holders and each distributor of such Registrable Securities identified by the Holders, at any time when a Prospectus relating thereto
would be required under the Securities Act to be delivered by such distributor, of the occurrence of any event as a result of which the
Prospectus included in such Registration Statement contains an untrue statement of a material fact or omits a material fact necessary
to make the statements therein, in light of the circumstances under which they were made, not misleading, and, at the reasonable request
of the Holders, prepare, as soon as practical, a supplement or amendment to such Prospectus so that, as thereafter delivered to any prospective
purchasers of such Registrable Securities, such Prospectus shall not contain an untrue statement of a material fact or omit to state any
material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading;

 

(viii)            in
the case of an underwritten offering in which the Holders participate pursuant to a Demand Registration or a Piggyback Registration, enter
into an underwriting agreement, containing customary provisions (including provisions for indemnification, lockups, opinions of counsel
and comfort letters), and take all such other customary and reasonable actions as the managing underwriters of such offering may request
in order to facilitate the disposition of such Registrable Securities (including, making appropriate personnel of the Company available
at reasonable times and places to assist in customary road-shows that the managing underwriters determine are necessary or advisable to
effect the offering);

 

    	 	- 8 -	 

     

    

 

(ix)            in
the case of an underwritten offering in which the Holders participate pursuant to a Demand Registration or a Piggyback Registration, and
to the extent not prohibited by applicable law, (A) make reasonably available, for inspection by the managing underwriters of such
offering and one attorney and accountant acting for such managing underwriters, pertinent corporate documents and financial and other
records of the Company and its subsidiaries and controlled Affiliates (but excluding any documents incorporated by reference in such Registration
Statement, amendments or supplements that are available on the SEC’s Electronic Data Gathering, Analysis, and Retrieval system (or
any successor system)), (B) cause the Company’s officers and employees to supply information reasonably requested by such managing
underwriters or attorney in connection with such offering, (C) make the Company’s independent accountants available for any
such underwriters’ due diligence and have them provide customary comfort letters to such underwriters in connection therewith; and
(D) cause the Company’s counsel to furnish customary legal opinions to such underwriters in connection therewith; provided,
however, that such records and other information shall be subject to such confidential treatment as is customary for underwriters’
due diligence reviews;

 

(x)            cause
all such Registrable Securities to be listed on the New York Stock Exchange or such other national securities exchange (if any) on which
securities of the same class issued by the Company are then listed;

 

(xi)            provide
a transfer agent, registrar and CUSIP number (if applicable) for all such Registrable Securities not later than the effective date of
such Registration Statement and, at a reasonable time before any proposed sale of Registrable Securities pursuant to a Registration Statement,
provide the transfer agent with printed certificates or book entry statements for, or other indicia acceptable to the transfer agent of,
the Registrable Securities to be sold;

 

(xii)            make
generally available to its shareholders, as soon as reasonably practicable, a consolidated earnings statement (which need not be audited)
for a period of twelve (12) months beginning after the effective date of the Registration Statement as soon as reasonably practicable
after the end of such period, which earnings statement shall satisfy the requirements of an earning statement under Section 11(a) of
the Securities Act and Rule 158 thereunder;

 

(xiii)            promptly
notify each Holder and the managing underwriters of any underwritten offering, if any:

 

(A)            when
the Registration Statement, any pre-effective amendment, the Prospectus or any Prospectus supplement or any post-effective amendment to
the Registration Statement has been filed and, with respect to the Registration Statement or any post-effective amendment, when the same
has become effective;

 

(B)            of
any request by the SEC for amendments or supplements to the Registration Statement or the Prospectus or for any additional information
regarding the Holders;

 

(C)            of
the notification to the Company by the SEC of its initiation of any proceeding with respect to the issuance by the SEC of any stop order
suspending the effectiveness of the Registration Statement; and

 

(D)            of
the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale
under the applicable securities or blue sky laws of any jurisdiction.

 

(xiv)            cooperate
and assist in any filings required to be made with FINRA;

 

    	 	- 9 -	 

     

    

 

(xv)            if
the Shelf Registration Statement covering Registrable Securities has been outstanding for at least three years and any Registrable Securities
remain outstanding, at the end of the third year, file a new Shelf Registration Statement covering the Registrable Securities; and

 

(xvi)            take
such other actions and deliver such other documents and instruments as may be reasonably requested and are necessary to facilitate the
registration and disposition of Registrable Securities as contemplated hereby.

 

For the avoidance of doubt,
the provisions of clauses (viii) and (ix) of this Section 6(a) shall apply only in respect of an underwritten
offering.

 

(b)            No
Registration Statement (including any amendments thereto) shall contain any untrue statement of a material fact or omit to state a material
fact required to be stated therein, or necessary to make the statements therein not misleading, and no Prospectus (including any supplements
thereto) shall contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading, in each case, except for any untrue statement or alleged untrue
statement of a material fact or omission or alleged omission of a material fact made in reliance on and in conformity with written information
furnished to the Company by or on behalf of the Holders or any underwriter or other distributor specifically for use therein.

 

(c)            At
all times after the Company has filed a Registration Statement with the SEC pursuant to the requirements of the Securities Act and until
the Termination Date, the Company shall use commercially reasonable efforts to continuously maintain in effect the Registration Statement
of Class A Common Stock under Section 12 of the Exchange Act and to use commercially reasonable efforts to file all reports
required to be filed by it under the Securities Act and the Exchange Act and the rules and regulations adopted by the SEC thereunder,
all to the extent required to enable the Holders to be eligible to sell Registrable Securities (if any) pursuant to Rule 144 under
the Securities Act.

 

(d)            The
Company may require each Holder and each distributor of Registrable Securities as to which any registration is being effected to, and
each Holder severally and not jointly agrees to, and to cause any distributor to, furnish to the Company information regarding such Person
and the distribution of such securities as the Company may from time to time reasonably request in connection with such registration.

 

(e)            The
Holders agree that, upon being advised in writing by the Company of the occurrence of an event pursuant to Section 6(a)(vii),
such Holders will immediately discontinue (and direct any other Persons making offers and sales of Registrable Securities to immediately
discontinue) offers and sales of Registrable Securities pursuant to any Registration Statement (other than those pursuant to a plan that
is in effect prior to such time and that complies with Rule 10b5-1 of the Exchange Act) until it is advised in writing by the Company
that the use of the Prospectus may be resumed and is furnished with a supplemented or amended Prospectus as contemplated by Section 6(a)(vii),
and, if so directed by the Company, each such Holder will deliver to the Company all copies, other than permanent file copies then in
the Holders’ possession, of the Prospectus covering such Registrable Securities current at the time of receipt of such notice.

 

(f)            The
Company may prepare and deliver an issuer free-writing prospectus (as such term is defined in Rule 405 under the Securities Act)
in lieu of any supplement to a prospectus, and references herein to any “supplement” to a Prospectus shall include any such
issuer free-writing prospectus. Neither the Holders nor any other seller of Registrable Securities may use a free-writing prospectus to
offer or sell any such shares without the Company’s prior written consent.

 

(g)            It
is understood and agreed that any failure of the Company to file a Registration Statement or any amendment or supplement thereto or to
cause any such document to become or remain effective or usable within or for any particular period of time as provided in Sections
2, 4 or 6 or otherwise in this Agreement, due to reasons that are not reasonably within its control (including, for
the avoidance of doubt, bona fide delays related to the services to be provided by third parties including the Company’s auditors
or advisors), or due to any refusal of the SEC to permit a registration statement or prospectus to become or remain effective or to be
used because of unresolved SEC comments thereon (or on any documents incorporated therein by reference) despite the Company’s good
faith and commercially reasonable efforts to resolve those comments, shall not be a breach of this Agreement.

 

    	 	- 10 -	 

     

    

 

(h)            It
is further understood and agreed that the Company shall not have any obligations under this Section 6 at any time on or after
the Termination Date, unless an underwritten offering in which the Holders have participated has been priced but not completed prior to
the Termination Date, in which event the Company’s obligations under this Section 6 shall continue with respect to such
offering until it is so completed (but not more than sixty (60) days after the commencement of the offering).

 

(i)            Notwithstanding
anything to the contrary in this Agreement, the Company shall not be required to file a Registration Statement or include Registrable
Securities in a Registration Statement unless it has received from participating Holders, at least five (5) days prior to the anticipated
filing date of the Registration Statement, requested information required to be provided by such Holders for inclusion therein.

 

Section 7. Registration Expenses.

 

(a)            All
fees and expenses incurred by the Company incident to the Company’s performance of or compliance with this Agreement, including
all registration and filing fees, fees and expenses of compliance with securities or blue sky laws, FINRA fees, listing application fees,
printing expenses, transfer agent’s and registrar’s fees, cost of distributing Prospectuses in preliminary and final form
as well as any supplements thereto, and fees and disbursements of counsel for the Company and all independent certified public accountants,
custodians and other Persons retained by the Company, internal expenses of the Company (including all salaries and expenses of its officers
and employees performing legal or accounting duties) and expenses in connection with participation in any road show, and the reasonable
and documented fees and disbursements of one (1) counsel for the RJB Holders, collectively, and one (1) counsel for the Salzberg
Holders, collectively (which reimbursement for the counsel of the RJB Holders and for the counsel of the Salzberg Holders shall be limited
to, in each case, an amount not to exceed $150,000 in the aggregate during the term of this Agreement), shall be borne by the Company.
Subject to the preceding sentence, the applicable Holder shall bear the cost of all underwriting discounts and commissions associated
with any sale of Registrable Securities by such Holder and shall pay all fees and expenses of any selling brokers, dealer managers or
similar securities industry professionals or any other advisers representing such Holder and any related stock transfer taxes.

 

(b)            The
obligation of the Company to bear the expenses described in Section 7(a) shall apply irrespective of whether a registration,
once properly demanded or requested becomes effective or is withdrawn or suspended.

 

Section 8. Indemnification.

 

(a)            The
Company shall indemnify, to the fullest extent permitted by law, each Holder, its respective officers, directors, members, employees,
agents, Affiliates, and Representatives, and each Person who controls such Holder (within the meaning of the Securities Act) (collectively,
the “Holder Indemnified Persons”) against all losses, claims, damages, liabilities, judgments, costs (including reasonable
costs of investigation) and expenses (including reasonable attorneys’ fees) arising out of or based upon (i) any untrue or
alleged untrue statement of a material fact contained or incorporated by reference in any Registration Statement or Prospectus, free writing
prospectus or any amendment thereof or supplement thereto, in the information conveyed by the Company or its representatives to a purchaser
at the time of sale to such purchaser or arising out of or based upon any omission or alleged omission of a material fact required to
be stated therein or necessary to make the statements therein not misleading or (ii) any violation or alleged violation by the Company
of the Securities Act or any other similar foreign, federal or state securities laws or any rule or regulation promulgated thereunder
applicable to the Company and relating to action or inaction required of the Company in connection with any such registration, qualification
or compliance, provided, however, that the Company will not be liable in any such case if and to the extent that any such loss,
claim, damage or liability arises out of or is based upon (i) an untrue statement or alleged untrue statement or omission or alleged
omission so made in reliance and in conformity with information furnished in writing to the Company by or on behalf of the applicable
Holder expressly for use therein; (ii) use by the applicable Holder of an outdated or defective Prospectus after the Company has
notified such Holder in writing that such Prospectus is outdated or defective; (iii) an applicable Holder’s failure to send
or give a copy of the Prospectus or supplement (as then amended or supplemented), if required (and not exempted) to the Persons asserting
an untrue statement or omission or alleged untrue statement or omission at or prior to the written confirmation of the sale of Registrable
Securities (except to the extent caused by the Company’s breach of its obligations under this Agreement); (iv) the disposition
of any Registrable Securities pursuant to any Registration Statement or Prospectus covering such Registrable Securities by an applicable
Holder during a Suspension Period; (v) any breach or failure to comply with any of the Holder’s covenants or agreements contained
herein or (vi) any violations by such Holder Indemnified Person of state or federal securities laws. In connection with an underwritten
offering, in which any Holder participates, conducted pursuant to a registration effected hereunder, the Company shall indemnify each
participating underwriter and each Person who controls such underwriter (within the meaning of the Securities Act) to the same extent
as provided above with respect to the indemnification of any participating Holder.

 

    	 	- 11 -	 

     

    

 

(b)            In
connection with any Registration Statement in which a Holder is participating, such Holder shall furnish to the Company in writing such
information as the Company reasonably requests for use in connection with any such Registration Statement or Prospectus, or amendment
or supplement thereto, and shall indemnify, severally and not jointly, to the fullest extent permitted by law, the Company, its officers,
directors, members, employees, agents, Affiliates, and Representatives and each Person who controls the Company (within the meaning of
the Securities Act) (collectively, the “Company Indemnified Persons”) against all losses, claims, damages, liabilities,
judgments, costs (including reasonable costs of investigation) and expenses (including reasonable attorneys’ fees) arising out of
or based upon any untrue or alleged untrue statement of material fact contained in the Registration Statement or Prospectus, or any amendment
or supplement thereto, or arising out of or based upon any omission or alleged omission of a material fact required to be stated therein
or necessary to make the statements therein not misleading, but only to the extent that the same are made in reliance and in conformity
with information furnished in writing to the Company by or on behalf of such participating Holder expressly for use therein; provided,
however, that such Holder will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises
out of or is based upon (i) any breach or failure to comply with any of the Company’s covenants or agreements contained herein
or (ii) any violations by such Company Indemnified Person of state or federal securities laws. No Holder of Registrable Securities
shall be liable in respect of indemnity amounts for more than the net proceeds actually received by such Holder in connection with such
Registrable Securities.

 

(c)            Any
Person entitled to indemnification hereunder shall (i) give prompt written notice to the indemnifying Person of any claim with respect
to which it seeks indemnification and (ii) permit such indemnifying Person to assume the defense of such claim with counsel reasonably
satisfactory to the indemnified Person. Failure to notify the indemnifying Person shall not relieve it from any liability that it may
have to an indemnified Person except to the extent that the indemnifying Person is materially and adversely prejudiced thereby. An indemnifying
Person who is entitled to, and elects to, assume the defense of a claim shall not be subject to any liability for any settlement made
by the indemnified Person without its consent (but such consent will not be unreasonably withheld). An indemnifying Person who is entitled
to, and elects to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel (in addition
to one local counsel) for all Persons indemnified (hereunder or otherwise) by such indemnifying Person with respect to such claim (and
all other claims arising out of the same circumstances), unless in the reasonable judgment of any indemnified Person there may be one
or more legal or equitable defenses available to such indemnified Person which are in addition to or may conflict with those available
to another indemnified Person with respect to such claim). If an indemnifying Person is entitled to, and elects to, assume the defense
of a claim, the indemnified Person shall continue to be entitled to participate in the defense thereof, with counsel of its own choice,
but, except as set forth above, the indemnifying Person shall not be obligated to reimburse the indemnified Person for the costs thereof.
The indemnifying Person shall not consent to the entry of any judgment or enter into or agree to any settlement relating to a claim or
action for which any indemnified Person would be entitled to indemnification by any indemnified Person hereunder unless such judgment
or settlement imposes no ongoing obligations or imposition of equitable remedies on any such indemnified Person and includes as an unconditional
term the giving, by all relevant claimants and plaintiffs to such indemnified Person, a release, satisfactory in form and substance to
such indemnified Person, from all liabilities in respect of such claim or action for which such indemnified Person would be entitled to
with regard to such indemnification. The indemnifying Person shall not be liable hereunder for any amount paid or payable or incurred
pursuant to or in connection with any judgment entered or settlement effected with the consent of an indemnified Person unless the indemnifying
Person has also consented to such judgment or settlement (but such consent will not be unreasonably withheld).

 

    	 	- 12 -	 

     

    

 

(d)            The
indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by or on
behalf of the indemnified Person or any officer, director or controlling Person of such indemnified Person and shall survive the transfer
of securities and the Termination Date but only with respect to offers and sales of Registrable Securities made before the Termination
Date or during the period following the Termination Date referred to in Section 6(h).

 

(e)            If
the indemnification provided for in or pursuant to this Section 8 is due in accordance with the terms hereof, but is held
by a court to be unavailable or unenforceable in respect of any losses, claims, damages, liabilities or expenses referred to herein, then
each applicable indemnifying Person, in lieu of indemnifying such indemnified Person, shall contribute to the amount paid or payable by
such indemnified Person as a result of such losses, claims, damages, liabilities or expenses in such proportion as is appropriate to reflect
the relative fault of the indemnifying Person on the one hand and of the indemnified Person on the other in connection with the statements
or omissions which result in such losses, claims, damages, liabilities or expenses as well as any other relevant equitable considerations.
The relative fault of the indemnifying Person on the one hand and of the indemnified Person on the other shall be determined by reference
to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state
a material fact relates to information supplied by the indemnifying Person or by the indemnified Person, and by such Person’s relative
intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. In no event shall the liability
of the indemnifying Person be greater in amount than the amount for which such indemnifying Person would have been obligated to pay by
way of indemnification if the indemnification provided for under Section 8(a) or 8(b) hereof had been available
under the circumstances.

 

Section 9. Securities Act Restrictions.

 

Subject to the terms and conditions
of the Purchase Agreement, to the extent the Registrable Securities are restricted securities under the Securities Act, they may not be
offered or sold except pursuant to an effective Registration Statement or an available exemption from registration under the Securities
Act. Accordingly, the Holders shall not, directly or through others, offer or sell any Registrable Securities except pursuant to a Registration
Statement as contemplated herein or pursuant to Rule 144 or another exemption from registration under the Securities Act, if available.
Prior to any transfer of Registrable Securities, other than pursuant to an effective registration statement or in accordance with Section 8(a) of
the Purchase Agreement, each Holder shall notify the Company of such transfer and the Company may require such Holder to provide, prior
to such transfer, such evidence that the transfer will comply with the Securities Act (including written representations or an opinion
of counsel) as the Company may reasonably request. The Company may impose stop-transfer instructions with respect to any Registrable Securities
that are to be transferred in contravention of this Agreement or, if applicable, the Purchase Agreement. Any certificates representing
the Registrable Securities may bear a legend (and the Company’s share registry may bear a notation) referencing the restrictions
on transfer contained in this Agreement (and the Purchase Agreement, if any), until such time as such securities have ceased to be (or
are to be transferred in a manner that results in their ceasing to be) Registrable Securities. Subject to the provisions of this Section 9,
the Company will replace any such legended certificates with unlegended certificates promptly upon surrender of the legended certificates
to the Company or its designee and cause shares that cease to be Registrable Securities to bear a general unrestricted CUSIP number, in
order to facilitate a lawful transfer or at any time after such shares cease to be Registrable Securities.

 

    	 	- 13 -	 

     

    

 

Section 10. Miscellaneous.

 

(a)            Notices.
All notices, communications and deliveries required or permitted by this Agreement shall be made in writing signed by the party making
the same, shall specify the Section of this Agreement pursuant to which it is given or being made and shall be deemed given or made
(i) on the date delivered if delivered in person, (ii) on the third (3rd) Business Day after it is mailed if mailed by registered
or certified mail (return receipt requested) (with postage and other fees prepaid); (iii) on the date of confirmation of receipt
(or the first Business Day following such receipt if the date of such receipt is not a Business Day) of transmission by email; or (iv) on
the day after it is delivered, prepaid, to an overnight express delivery service that confirms to the sender delivery on such day, as
follows:

 

(i)            if
to the RJB Purchaser, at:

 

RJB Partners LLC

[***]

 

with a copy (which shall not constitute notice) to:

 

Sullivan and Cromwell LLP

1888 Century Park East, Suite 2100

Los Angeles, CA 90067

Attention: Alison S. Ressler

Email: resslera@sullcrom.com

 

(ii)             if
to the Salzberg Purchaser, at:

 

Matthew B. Salzberg

[***]

 

with a copy (which shall not constitute notice) to:

 

Covington & Burling LLP

One CityCenter

850 Tenth Street, NW

Washington, DC 20001

Attention: Matthew C. Franker

Email: mfranker@cov.com

 

(iii)            if
to the Company, at:

 

Blue Apron Holdings, Inc.

28 Liberty Street

New York, NY 10005

Attention: General Counsel

Email: legalnotices@blueapron.com

 

With copies (which shall not constitute notice) to:

 

Wilmer Cutler Pickering Hale and Dorr LLP

60 State Street

Boston, MA 02109

Attention: David A. Westenberg, Esq.

Email: David.Westenberg@wilmerhale.com

 

and

 

Wilmer Cutler Pickering Hale and Dorr LLP

7 World Trade Center

250 Greenwich Street

New York, NY 10007

Attention: Christopher Barnstable-Brown, Esq.

Email: Chris.Barnstable-Brown@wilmerhale.com

 

or to such other representative or at such other
address of a party as such party hereto may furnish to the other parties in writing in accordance with this Section 10. If
notice is given pursuant to this Section 10 of any assignment to a Permitted Transferee, permitted successor or assign of
a party hereto, the notice shall be given as set forth above to such Permitted Transferee, successor or permitted assign of such party.

 

    	 	- 14 -	 

     

    

 

(b)            No
Waivers. No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof
nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power
or privilege. No waiver hereunder shall be effective unless it is in writing and signed by the party against whom the waiver is to be
enforced. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law.

 

(c)            Assignment.
Except in connection with any Permitted Transfer by a Holder, this Agreement may not be assigned by any Holder without the prior written
consent of the Company and this Agreement may not be assigned by the Company without the prior written consent of the Holders. This Agreement
will be binding upon, and will inure to the benefit of and be enforceable by, the parties hereto and their respective successors and assigns.

 

(d)            No
Third-Party Beneficiaries. Nothing contained in this Agreement, expressed or implied, is intended to confer upon any person or entity
other than the Company and the Holders, any benefits, rights, or remedies (except as specified in Section 9 hereof).

 

(e)            Governing
Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of New York (other than its
rules of conflict of laws to the extent the application of the laws of another jurisdiction would be required thereby).

 

(f)            Waiver
of Jury Trial; Consent to Jurisdiction. EACH PARTY 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 AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.
EACH PARTY HEREBY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE COURT OF CHANCERY OF THE STATE OF DELAWARE FOR THE ADJUDICATION
OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH ANY TRANSACTION CONTEMPLATED HEREBY, AND HEREBY IRREVOCABLY WAIVES, AND AGREES NOT TO ASSERT
IN ANY SUIT, ACTION OR PROCEEDING, ANY CLAIM THAT IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF ANY SUCH COURT, THAT SUCH SUIT,
ACTION OR PROCEEDING IS BROUGHT IN AN INCONVENIENT FORUM OR THAT THE VENUE OF SUCH SUIT, ACTION OR PROCEEDING IS IMPROPER. EACH PARTY
HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS AND CONSENTS TO PROCESS BEING SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING BY MAILING
A COPY THEREOF (CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED) TO SUCH PARTY AT THE ADDRESS IN EFFECT FOR NOTICES TO IT UNDER
THIS AGREEMENT AND AGREES THAT SUCH SERVICE SHALL CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS AND NOTICE THEREOF. NOTHING CONTAINED
HEREIN SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO SERVE PROCESS IN ANY MANNER PERMITTED BY LAW.

 

(g)            Entire
Agreement. This Agreement, the Purchase Agreement, the PIPE Warrants and the Backstopped Warrants embody the entire agreement and
understanding between the parties hereto in respect of the subject matter contained herein and therein. There are no restrictions, promises,
warranties, or undertakings, other than those set forth or referred to herein or therein, with respect to the registration rights granted
by the Company with respect to the PIPE Securities, the PIPE Warrant Shares, the Backstopped Securities, and the Backstopped Warrant Shares.
This Agreement supersedes all prior agreements and understandings between the parties with respect to the subject matter of this Agreement.

 

(h)            Severability.
If any provision of this Agreement or the application thereof to any person or circumstances is determined by a court of competent jurisdiction
to be invalid, void or unenforceable, the remaining provisions hereof, or the application of such provision to persons or circumstances
other than those as to which it has been held invalid or unenforceable, shall remain in full force and effect and shall in no way be affected,
impaired or invalidated thereby. Upon such determination, the parties shall negotiate in good faith in an effort to agree upon a suitable
and equitable substitute provision to effect the original intent of the parties.

 

(i)            Restriction
on Third-Party Registration Rights. The Company agrees that it shall not grant any registration rights to any third party (i) unless
such rights are expressly made subject to the rights of the Holders in a manner consistent with this Agreement or (ii) if such registration
rights are senior to, or take priority over, the registration rights granted to the Holders under this Agreement, and in the event such
registration rights are granted to a third party, the Company will so notify the Holders.

 

    	 	- 15 -	 

     

    

 

(j)            Amendment.
No amendment of any provision of this Agreement will be effective unless made in writing and signed by an officer of a duly authorized
representative of the Company and the Holder against whom such amendment is to be effective.

 

(k)            Specific
Performance. Each party acknowledges and agrees that each party hereto will be irreparably damaged in the event any of the provisions
of this Agreement are not performed by the parties in accordance with their specific terms or are otherwise breached. Accordingly, it
is agreed that each of the Company and each Holder, to the extent entitled to the benefit of the provisions hereof, shall be entitled
to an injunction or injunctions to prevent breaches of this Agreement, and to enforce specifically this Agreement and its terms and provisions
in any action instituted in any court of the United States or any state having subject matter jurisdiction. Each party agrees that it
will not oppose the granting of such injunction, specific performance and other equitable relief on the basis that the other party has
an adequate remedy at law.

 

(l)            Miscellaneous.

 

(i)            The
headings in this Agreement are for purposes of reference only and shall not limit or otherwise affect the meaning of this Agreement.

 

(ii)            Whenever
the words “include”, “includes” or “including” are used in this Agreement, they shall be deemed to
be followed by the words “without limitation.”

 

(iii)            The
parties have participated jointly in negotiating and drafting this Agreement. In the event that an ambiguity or a question of intent or
interpretation arises, this Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall
arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement.

 

(iv)            This
Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which, when taken
together, shall constitute one and the same instrument.

 

[Signature page follows]

 

    	 	- 16 -	 

     

    

 

IN WITNESS WHEREOF, the parties
have caused this Agreement to be duly executed and delivered as of the date first above written.

 

	 	BLUE APRON HOLDINGS, INC.
	 	 
	 	By:	/s/ Linda Findley Kozlowski
	 	Name:	Linda Findley Kozlowski
	 	Title:	President and Chief Executive Officer
	 	 
	 	 
	 	RJB PARTNERS LLC
	 	 
	 	By:	/s/ Joseph Sanberg
	 	Name:	Joseph Sanberg
	 	Title:	Managing Member

 

	 	MATTHEW B. SALZBERG
	 	 
	 	By:	/s/ Matthew B. Salzberg
	 	Name:	Matthew B. Salzberg

 

[Signature Page to Registration Rights Agreement]

 

     

     

    

 

Exhibit A

 

FORM OF JOINDER TO

REGISTRATION RIGHTS AGREEMENT

 

THIS JOINDER to the Registration Rights Agreement,
dated as of November 4, 2021, by and among Blue Apron Holdings, Inc., a Delaware corporation, RJB Partners LLC, a Delaware limited
liability company and Matthew B. Salzberg (the “Registration Rights Agreement”), is made and entered into as of [●],
by and between the Company and [●] (“New Holder”). Capitalized terms used herein but not otherwise defined
shall have the meanings set forth in the Registration Rights Agreement.

 

WHEREAS, New Holder has acquired certain Registrable
Securities from [●].

 

NOW, THEREFORE, in consideration of the mutual
covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties to this Joinder hereby agree as follows:

 

1.            Agreement
to be Bound. New Holder hereby agrees that upon execution of this Joinder, it shall become a party to the Registration Rights Agreement
and shall be fully bound by, and subject to, all of the covenants, terms and conditions of the Registration Rights Agreement as though
an original party thereto and shall be deemed a Holder for all purposes thereof.

 

2.            Successors
and Assigns. This Joinder shall bind and inure to the benefit of and be enforceable by the Company, the Holders and their respective
successors, heirs and assigns and Holder and its successors, heirs and assigns.

 

3.            Counterparts.
This Joinder may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which, when taken
together, shall constitute one and the same instrument.

 

4.            Notices.
For purposes of Section 10(a) of the Registration Rights Agreement, all notices, demands or other communications to the
New Holder shall be directed to:

 

[Name]

[Address]

[Email Address]

 

5.            Governing
Law. This Joinder shall be governed by and construed in accordance with the internal laws of the State of New York (other than its
rules of conflict of laws to the extent the application of the laws of another jurisdiction would be required thereby).EX-4.5

 Exhibit 4.5 

CODIAK BIOSCIENCES, INC. 
 Issuer

 AND 
 [•] 

Trustee 
 INDENTURE 

Dated as of [•] 
 Senior Debt
Securities 

 CROSS-REFERENCE TABLE (1) 

 

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

Indenture

	310(a).	  	7.09
	310(b).	  	7.08
		  	7.10
	310(c).	  	Inapplicable
	311(a).	  	7.13(a)
	311(b).	  	7.13(b)
	311(c).	  	Inapplicable
	312(a)	  	5.02(a)
	312(b).	  	5.02(b)
	312(c).	  	5.02(c)
	313(a).	  	5.04(a)
	313(b).	  	5.04(a)
	313(c).	  	5.04(a)
		  	5.04(b)
	313(d).	  	5.04(b)
	314(a).	  	5.03
	314(b).	  	Inapplicable
	314(c).	  	13.06
	314(d).	  	Inapplicable
	314(e).	  	13.06
	314(f).	  	Inapplicable
	315(a).	  	7.01(a)
		  	7.02
	315(b).	  	6.07
	315(c).	  	7.01
	315(d).	  	7.01(b)
		  	7.01(c)
	315(e).	  	6.07
	316(a).	  	6.06
		  	8.04
	316(b).	  	6.04
	316(c).	  	8.01
	317(a).	  	6.02
	317(b).	  	4.03
	318(a).	  	13.08

  
  

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

  
 i 

 TABLE OF CONTENTS (2) 

 

							
	 	 	 	  	Page	 
	 ARTICLE I
	 	DEFINITIONS	  	 	6	 
			
	 SECTION 1.01
	 	Definitions of Terms	  	 	6	 
			
	 ARTICLE II
	 	ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES	  	 	10	 
			
	 SECTION 2.01
	 	Designation and Terms of Securities	  	 	10	 
	 SECTION 2.02
	 	Form of Securities and Trustee’s Certificate	  	 	12	 
	 SECTION 2.03
	 	Denominations: Provisions for Payment	  	 	12	 
	 SECTION 2.04
	 	Execution and Authentications	  	 	13	 
	 SECTION 2.05
	 	Registration of Transfer and Exchange	  	 	14	 
	 SECTION 2.06
	 	Temporary Securities	  	 	15	 
	 SECTION 2.07
	 	Mutilated, Destroyed, Lost or Stolen Securities	  	 	16	 
	 SECTION 2.08
	 	Cancellation	  	 	16	 
	 SECTION 2.09
	 	Benefits of Indenture	  	 	17	 
	 SECTION 2.10
	 	Authenticating Agent	  	 	17	 
	 SECTION 2.11
	 	Global Securities	  	 	17	 
			
	 ARTICLE III
	 	REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS	  	 	18	 
			
	 SECTION 3.01
	 	Redemption	  	 	18	 
	 SECTION 3.02
	 	Notice of Redemption	  	 	18	 
	 SECTION 3.03
	 	Payment Upon Redemption	  	 	20	 
	 SECTION 3.04
	 	Sinking Fund	  	 	20	 
	 SECTION 3.05
	 	Satisfaction of Sinking Fund Payments with Securities	  	 	20	 
	 SECTION 3.06
	 	Redemption of Securities for Sinking Fund	  	 	20	 
			
	 ARTICLE IV
	 	COVENANTS	  	 	21	 
			
	 SECTION 4.01
	 	Payment of Principal, Premium and Interest	  	 	21	 
	 SECTION 4.02
	 	Maintenance of Office or Agency	  	 	21	 
	 SECTION 4.03
	 	Paying Agents	  	 	21	 
	 SECTION 4.04
	 	Appointment to Fill Vacancy in Office of Trustee	  	 	22	 
	 SECTION 4.05
	 	Compliance with Consolidation Provisions	  	 	22	 

  
 ii 

							
		 		  			
	 ARTICLE V
	 	SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE	  	 	23	 
			
	 SECTION 5.01
	 	Company to Furnish Trustee Names and Addresses of Securityholders	  	 	23	 
	 SECTION 5.02
	 	Preservation of Information; Communications with Securityholders	  	 	23	 
	 SECTION 5.03
	 	Reports by the Company	  	 	23	 
	 SECTION 5.04
	 	Reports by the Trustee	  	 	24	 
			
	 ARTICLE VI
	 	REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT	  	 	24	 
			
	 SECTION 6.01
	 	Events of Default	  	 	24	 
	 SECTION 6.02
	 	Collection of Indebtedness and Suits for Enforcement by Trustee	  	 	26	 
	 SECTION 6.03
	 	Application of Moneys Collected	  	 	27	 
	 SECTION 6.04
	 	Limitation on Suits	  	 	27	 
	 SECTION 6.05
	 	Rights and Remedies Cumulative; Delay or Omission Not Waiver	  	 	28	 
	 SECTION 6.06
	 	Control by Securityholders	  	 	29	 
	 SECTION 6.07
	 	Undertaking to Pay Costs	  	 	29	 
			
	 ARTICLE VII
	 	CONCERNING THE TRUSTEE	  	 	30	 
			
	 SECTION 7.01
	 	Certain Duties and Responsibilities of Trustee	  	 	30	 
	 SECTION 7.02
	 	Certain Rights of Trustee	  	 	31	 
	 SECTION 7.03
	 	Trustee Not Responsible for Recitals or Issuance of Securities	  	 	32	 
	 SECTION 7.04
	 	May Hold Securities	  	 	32	 
	 SECTION 7.05
	 	Moneys Held in Trust	  	 	32	 
	 SECTION 7.06
	 	Compensation and Reimbursement	  	 	32	 
	 SECTION 7.07
	 	Reliance on Officers’ Certificate	  	 	33	 
	 SECTION 7.08
	 	Disqualification; Conflicting Interests	  	 	33	 
	 SECTION 7.09
	 	Corporate Trustee Required; Eligibility	  	 	33	 
	 SECTION 7.10
	 	Resignation and Removal; Appointment of Successor	  	 	34	 
	 SECTION 7.11
	 	Acceptance of Appointment By Successor	  	 	35	 
	 SECTION 7.12
	 	Merger, Conversion, Consolidation or Succession to Business	  	 	36	 
	 SECTION 7.13
	 	Preferential Collection of Claims Against the Company	  	 	36	 
			
	 ARTICLE VIII
	 	CONCERNING THE SECURITYHOLDERS	  	 	36	 
			
	 SECTION 8.01
	 	Evidence of Action by Securityholders	  	 	36	 
	 SECTION 8.02
	 	Proof of Execution by Securityholders	  	 	37	 

  
 iii 

							
	 SECTION 8.03
	 	Who May be Deemed Owners	  	 	37	 
	 SECTION 8.04
	 	Certain Securities Owned by Company Disregarded	  	 	38	 
	 SECTION 8.05
	 	Actions Binding on Future Securityholders	  	 	38	 
	 SECTION 8.06
	 	Purposes for Which Meetings May Be Called	  	 	38	 
	 SECTION 8.07
	 	Call Notice and Place of Meetings	  	 	38	 
	 SECTION 8.08
	 	Persons Entitled To Vote at Meetings	  	 	39	 
	 SECTION 8.09
	 	Quorum; Action	  	 	39	 
	 SECTION 8.10
	 	Determination of Voting Rights; Conduct and Adjournment of Meetings	  	 	40	 
	 SECTION 8.11
	 	Counting Votes and Recording Action of Meetings	  	 	40	 
		
	 ARTICLE IX SUPPLEMENTAL INDENTURES
	  	 	41	 
			
	 SECTION 9.01
	 	Supplemental Indentures Without the Consent of Securityholders	  	 	41	 
	 SECTION 9.02
	 	Supplemental Indentures With Consent of Securityholders	  	 	42	 
	 SECTION 9.03
	 	Effect of Supplemental Indentures	  	 	42	 
	 SECTION 9.04
	 	Securities Affected by Supplemental Indentures	  	 	42	 
	 SECTION 9.05
	 	Execution of Supplemental Indentures	  	 	43	 
		
	 ARTICLE X SUCCESSOR ENTITY
	  	 	43	 
			
	 SECTION 10.01
	 	Company May Consolidate, Etc	  	 	43	 
	 SECTION 10.02
	 	Successor Entity Substituted	  	 	44	 
	 SECTION 10.03
	 	Evidence of Consolidation, Etc. to Trustee	  	 	44	 
		
	 ARTICLE XI SATISFACTION AND DISCHARGE
	  	 	44	 
			
	 SECTION 11.01
	 	Satisfaction and Discharge of Indenture	  	 	44	 
	 SECTION 11.02
	 	Discharge of Obligations	  	 	45	 
	 SECTION 11.03
	 	Deposited Moneys to be Held in Trust	  	 	45	 
	 SECTION 11.04
	 	Payment of Moneys Held by Paying Agents	  	 	45	 
	 SECTION 11.05
	 	Repayment to Company	  	 	45	 
		
	 ARTICLE XII IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND
DIRECTORS
	  	 	46	 
			
	 SECTION 12.01
	 	No Recourse	  	 	46	 
		
	 ARTICLE XIII MISCELLANEOUS PROVISIONS
	  	 	46	 
			
	 SECTION 13.01
	 	Effect on Successors and Assigns	  	 	46	 
	 SECTION 13.02
	 	Actions by Successor	  	 	46	 

  
 iv 

							
	 SECTION 13.03
	 	Surrender of Company Powers	  	 	46	 
	 SECTION 13.04
	 	Notices	  	 	47	 
	 SECTION 13.05
	 	Governing Law	  	 	47	 
	 SECTION 13.06
	 	Treatment of Securities as Debt	  	 	47	 
	 SECTION 13.07
	 	Compliance Certificates and Opinions	  	 	47	 
	 SECTION 13.08
	 	Payments on Business Days	  	 	48	 
	 SECTION 13.09
	 	Conflict with Trust Indenture Act	  	 	48	 
	 SECTION 13.10
	 	Counterparts	  	 	48	 
	 SECTION 13.11
	 	Separability	  	 	48	 
	 SECTION 13.12
	 	Assignment	  	 	48	 

  
  

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

  
 v 

 INDENTURE, dated as of [•], by and between Codiak BioSciences, Inc., a Delaware
corporation (the “Company”), and [•], as trustee (the “Trustee”): 
 WHEREAS, for its lawful corporate purposes,
the Company has duly authorized the execution and delivery of this Indenture to provide for the issuance of debt securities (hereinafter referred to as the “Securities”), in an unlimited aggregate principal amount to be issued from time to
time in one or more series as in this Indenture provided, as registered Securities without coupons, to be authenticated by the certificate of the Trustee; 

WHEREAS, to provide the terms and conditions upon which the Securities are to be authenticated, issued and delivered, the Company has duly
authorized the execution of this Indenture; and 
 WHEREAS, all things necessary to make this Indenture a valid agreement of the Company, in
accordance with its terms, have been done. 
 NOW, THEREFORE, in consideration of the premises and the purchase of the Securities by the
holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable benefit of the holders of Securities: 
 ARTICLE I

 DEFINITIONS 
 
SECTION 1.01 Definitions of Terms. The terms defined in this Section (except as in this Indenture otherwise expressly provided or unless the context otherwise requires) for all purposes of this Indenture and of any indenture supplemental
hereto shall have the respective meanings specified in this Section and shall include the plural as well as the singular. All other terms used in this Indenture that are defined in the Trust Indenture Act of 1939, as amended, or that are by
reference in such Act defined in the Securities Act of 1933, as amended (except as herein otherwise expressly provided or unless the context otherwise requires), shall have the meanings assigned to such terms in said Trust Indenture Act and in said
Securities Act as in force at the date of the execution of this instrument. 
 “Authenticating Agent” means an authenticating
agent with respect to all or any of the series of Securities appointed with respect to all or any series of the Securities by the Trustee pursuant to Section 2.10. 

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

“Board of Directors” means the Board of Directors of the Company or any duly authorized committee of such Board. 

“Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been
duly adopted by the Board of Directors and to be in full force and effect on the date of such certification. 

 “Business Day” means, with respect to any series of Securities, any day other than
a day on which Federal or State banking institutions in the Borough of Manhattan, the City and State of New York, are authorized or obligated by law, executive order or regulation to close. 

“Certificate” means a certificate signed by the principal executive officer, the principal financial officer or the principal
accounting officer of the Company. The Certificate need not comply with the provisions of Section 13.07. 
 “Commission”
means the U.S. Securities and Exchange Commission. 
 “Company” means the corporation named as the “Company” in the
first paragraph of this instrument until a successor corporation shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor corporation. 

“Corporate Trust Office” means the office of the Trustee at which, at any particular time, its corporate trust business shall be
principally administered, which office at the date hereof is located at [•], except that whenever a provision herein refers to an office or agency of the Trustee in the Borough of Manhattan, the City and State of New York, such office is
located, at the date hereof, at [•]. 
 “Custodian” means any receiver, trustee, assignee, liquidator, or similar official
under any Bankruptcy Law. 
 “Default” means an event which is, or after notice or lapse of time, or both, would constitute an
Event of Default. 
 “Depositary” means, with respect to Securities of any series, for which the Company shall determine that such
Securities will be issued as a Global Security, The Depository Trust Company, New York, New York, another clearing agency, or any successor registered as a clearing agency under the Exchange Act, or other applicable statute or regulation, which, in
each case, shall be designated by the Company pursuant to either Section 2.01 or Section 2.11. 
 “Event of Default”
means, with respect to Securities of a particular series, any event specified in Section 6.01, continued for the period of time, if any, therein designated. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

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

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

  
 7 

 
Section 3(a)(2) of the Securities Act of 1933, as amended) as custodian with respect to any such Governmental Obligation or a specific payment of principal of or interest on any such
Governmental Obligation held by such custodian for the account of the holder of such depositary receipt; provided, however, that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder
of such depositary receipt from any amount received by the custodian in respect of the Governmental Obligation or the specific payment of principal of or interest on the Governmental Obligation evidenced by such depositary receipt. 

“herein,” “hereof” and “hereunder,” and other words of similar import, refer to this Indenture as a whole and
not to any particular Article, Section or other subdivision. 
 “Indenture” means this instrument as originally executed or as it
may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into in accordance with the terms hereof. 

“Interest Payment Date,” when used with respect to any installment of interest on a Security of a particular series, means the date
specified in such Security or in a Board Resolution or in an indenture supplemental hereto with respect to such series as the fixed date on which an installment of interest with respect to Securities of that series is due and payable. 

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

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

“Outstanding”, when used with reference to Securities of any series, means, subject to the provisions of Section 8.04, as of
any particular time, all Securities of that series theretofore authenticated and delivered by the Trustee under this Indenture, except (a) Securities theretofore canceled by the Trustee or any paying agent, or delivered to the Trustee or any
paying agent for cancellation or that have previously been canceled; (b) Securities or portions thereof for the payment or redemption of which moneys or Governmental Obligations in the necessary amount shall have been deposited in trust with
the Trustee or with any paying agent (other than the Company) or shall have been set aside and segregated in trust by the Company (if the Company shall act as its own paying agent); provided, however, that if such Securities or portions of such
Securities are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as in Article III provided, or provision satisfactory to the Trustee shall have been made for giving such notice; and (c) Securities in
lieu of or in substitution for which other Securities shall have been authenticated and delivered pursuant to the terms of Section 2.07. 

  
 8 

 “Person” means any individual, corporation, limited liability company,
partnership, joint-venture, association, joint-stock company, trust, estate, unincorporated organization or government or any agency or political subdivision thereof. 

“Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as that
evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 2.07 in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as
the mutilated, destroyed, lost or stolen Security. 
 “Responsible Officer,” when used with respect to the Trustee, means any
officer of the Trustee, including any vice president, assistant vice president, secretary, assistant secretary, the treasurer, any assistant treasurer, the managing director or any other officer of the Trustee customarily performing functions
similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity
with the particular subject. 
 “Securities” means the debt Securities authenticated and delivered under this Indenture. 

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

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

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

“Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument until a successor Trustee
shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean such successor Trustee. The term “Trustee” as used with respect to a particular series of the Securities shall
mean the trustee with respect to that series. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, subject
to the provisions of Sections 9.01, 9.02, and 10.01, as in effect at the date of execution of this instrument; provided, however, that in the event the Trust Indenture Act is amended after such date, Trust Indenture Act means, to the extent required
by such amendment, the Trust Indenture Act of 1939, as so amended, or any successor statute. 

  
 9 

 “Voting Stock,” as applied to any Person, means shares, interests, participations
or other equivalents in the equity interest (however designated) in such Person having ordinary voting power for the election of a majority of the directors (or the equivalent) of such Person, other than shares, interests, participations or other
equivalents having such power only by reason of the occurrence of a contingency. 
 ARTICLE II 

ISSUE, DESCRIPTION, TERMS, EXECUTION, 

REGISTRATION AND EXCHANGE OF SECURITIES 

SECTION 2.01 Designation and Terms of Securities. 

(a) The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may
be issued in one or more series up to the aggregate principal amount of Securities of that series from time to time authorized by or pursuant to a Board Resolution of the Company or pursuant to one or more indentures supplemental hereto. Prior to
the initial issuance of Securities of a given series, there shall be established in or pursuant to a Board Resolution of the Company, and set forth in an Officers’ Certificate of the Company, or established in one or more indentures
supplemental hereto: 
 (1) the title of the Security of the series (which shall distinguish the Securities of the series from all other
Securities); 
 (2) the aggregate principal amount of the Securities of such series initially to be issued and any limit upon the aggregate
principal amount of the Securities of that series that may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities
of that series); 
 (3) the currency or units based on or relating to currencies in which debt securities of such series are denominated
and the currency or units in which principal or interest or both will or may be payable; 
 (4) the date or dates on which the principal of
the Securities of the series is payable and the place(s) of payment; 
 (5) the rate or rates at which the Securities of the series shall
bear interest or the manner of calculation of such rate or rates, if any; 
 (6) the date or dates from which such interest shall accrue,
the Interest Payment Dates on which such interest will be payable or the manner of determination of such Interest Payment Dates, the place(s) of payment, and the record date for the determination of holders to whom interest is payable on any such
Interest Payment Dates or the method for determining such dates; 
 (7) the right, if any, to extend the interest payment periods or to
defer the payment of interest and the duration of such extension; 

  
 10 

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

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

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

(12) if other than denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, the denominations in which the
Securities of the series shall be issuable; 
 (13) any and all other terms with respect to such series (which terms shall not be
inconsistent with the terms of this Indenture, as amended by any supplemental indenture) including any terms which may be required by or advisable under United States laws or regulations or advisable in connection with the marketing of Securities of
that series; 
 (14) whether the Securities are issuable as a Global Security and, in such case, the identity of the Depositary for such
series; 
 (15) whether the Securities will be convertible into shares of common stock or other securities of the Company and, if so, the
terms and conditions upon which such Securities will be so convertible, including the conversion price and the conversion period; 
 (16)
if other than the principal amount thereof, the portion of the principal amount of Securities of the series which shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.01; and 

(17) any additional or different Events of Default or restrictive covenants provided for with respect to the Securities of the series. All
Securities of any one series shall be substantially identical except as to denomination and except as may otherwise be provided in or pursuant to any such Board Resolution or in any indentures supplemental hereto. 

If any of the terms of the series are established by action taken pursuant to a Board Resolution of the Company, a copy of an appropriate record of such
action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate of the Company setting forth the terms of the series. 

  
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 Securities of any particular series may be issued at various times, with different dates on which the
principal or any installment of principal is payable, with different rates of interest, if any, or different methods by which rates of interest may be determined, with different dates on which such interest may be payable and with different
redemption dates. 
 SECTION 2.02 Form of Securities and Trustee’s Certificate. The
Securities of any series and the Trustee’s certificate of authentication to be borne by such Securities shall be substantially of the tenor and purport as set forth in one or more indentures supplemental hereto or as provided in a Board
Resolution of the Company and as set forth in an Officers’ Certificate of the Company and may have such letters, numbers or other marks of identification or designation and such legends or endorsements printed, lithographed or engraved thereon
as the Company may deem appropriate and as are not inconsistent with the provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any stock
exchange on which Securities of that series may be listed, or to conform to usage. 
 SECTION 2.03
Denominations: Provisions for Payment. The Securities shall be issuable as registered Securities and in the denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, subject to Section 2.01(a)(12). The
Securities of a particular series shall bear interest payable on the dates and at the rate specified with respect to that series. The principal of and the interest on the Securities of any series, as well as any premium thereon in case of redemption
thereof prior to maturity, shall be payable in the coin or currency of the United States of America that at the time is legal tender for public and private debt, at the office or agency of the Company maintained for that purpose in the Borough of
Manhattan, the City and State of New York. Each Security shall be dated the date of its authentication. Interest on the Securities shall be computed on the basis of a 360-day year composed of twelve 30-day months. 
 The interest installment on any Security that is payable, and is punctually paid or duly provided for,
on any Interest Payment Date for Securities of that series shall be paid to the Person in whose name said Security (or one or more Predecessor Securities) is registered at the close of business on the regular record date for such interest
installment. In the event that any Security of a particular series or portion thereof is called for redemption and the redemption date is subsequent to a regular record date with respect to any Interest Payment Date and prior to such Interest
Payment Date, interest on such Security will be paid upon presentation and surrender of such Security as provided in Section 3.03. 
 Any interest on
any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date for Securities of the same series (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered holder
on the relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (1) or clause (2) below: 

(1) The Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective
Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company shall notify the

  
 12 

 
Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the
Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when
deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall not be more
than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and,
in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder at his or her address as it
appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall
be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered on such special record date. 

(2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the
requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such
manner of payment shall be deemed practicable by the Trustee. Unless otherwise set forth in a Board Resolution of the Company or one or more indentures supplemental hereto establishing the terms of any series of Securities pursuant to
Section 2.01 hereof, the term “regular record date” as used in this Section with respect to a series of Securities with respect to any Interest Payment Date for such series shall mean either the fifteenth day of the month immediately
preceding the month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date is the first day of a month, or the last day of the month immediately preceding the
month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date is the fifteenth day of a month, whether or not such date is a Business Day. 

Subject to the foregoing provisions of this Section, each Security of a series delivered under this Indenture upon transfer of or in exchange for or in lieu
of any other Security of such series shall carry the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security. 

SECTION 2.04 Execution and Authentications. The Securities shall be signed on behalf of the Company by
its President, or one of its Vice Presidents, or its Treasurer, or one of its Assistant Treasurers, or its Secretary, or one of its Assistant Secretaries, under its corporate seal attested by its Secretary or one of its Assistant Secretaries.
Signatures may be in the form of a manual or facsimile signature. The Company may use the facsimile signature of any Person who shall have been a President or Vice President thereof, or of any Person who shall have been a Treasurer or Assistant
Treasurer thereof, or of any Person who shall have been a Secretary or Assistant Secretary thereof, notwithstanding the fact that at the time the Securities shall be 

  
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authenticated and delivered or disposed of such Person shall have ceased to be the President or a Vice President, the Treasurer or an Assistant Treasurer or the Secretary or an Assistant
Secretary, of the Company. The seal of the Company may be in the form of a facsimile of such seal and may be impressed, affixed, imprinted or otherwise reproduced on the Securities. The Securities may contain such notations, legends or endorsements
required by law, stock exchange rule or usage. Each Security shall be dated the date of its authentication. 
 A Security shall not be valid or obligatory
for any purpose and shall not be entitled to any benefit under this Indenture, in each case, until authenticated with a certificate of authentication manually signed by an authorized signatory of the Trustee, or by an Authenticating Agent. Such
certificate shall be conclusive evidence, and the only evidence, that the Security so authenticated has been duly authenticated and delivered hereunder and that the Security is entitled to the benefits of this Indenture. At any time and from time to
time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication, together with a written order of the Company for the authentication and delivery of
such Securities, signed by its President or any Vice President and its Secretary or any Assistant Secretary, and the Trustee in accordance with such written order shall authenticate and deliver such Securities. 

In authenticating such Securities and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be
entitled to receive, and (subject to Section 7.01) shall be fully protected in relying upon, an Opinion of Counsel stating that the form and terms thereof have been established in conformity with the provisions of this Indenture. 

The Trustee shall not be required to authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s
own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner that is not reasonably acceptable to the Trustee. 

SECTION 2.05 Registration of Transfer and Exchange. 

(a) Securities of any series may be exchanged upon presentation thereof at the office or agency of the Company designated for such purpose in
the Borough of Manhattan, the City and State of New York, for other Securities of such series of authorized denominations, and for a like aggregate principal amount, upon payment of a sum sufficient to cover any tax or other governmental charge in
relation thereto, all as provided in this Section. In respect of any Securities so surrendered for exchange, the Company shall execute, the Trustee shall authenticate and such office or agency shall deliver in exchange therefor the Security or
Securities of the same series that the Securityholder making the exchange shall be entitled to receive, bearing numbers not contemporaneously outstanding. 

(b) The Company shall keep, or cause to be kept, at its office or agency designated for such purpose in the Borough of Manhattan, the City and
State of New York, or such other location designated by the Company a register or registers (herein referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall register
the Securities and the transfers of Securities as in this Article provided and which at all reasonable times shall be open for inspection by the Trustee. The registrar for 

  
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the purpose of registering Securities and transfer of Securities as herein provided shall be appointed as authorized by Board Resolution (the “Security Registrar”). Upon surrender for
transfer of any Security at the office or agency of the Company designated for such purpose, the Company shall execute, the Trustee shall authenticate and such office or agency shall deliver in the name of the transferee or transferees a new
Security or Securities of the same series as the Security presented for a like aggregate principal amount. 
 All Securities presented or
surrendered for exchange or registration of transfer, as provided in this Section, shall be accompanied (if so required by the Company or the Security Registrar) by a written instrument or instruments of transfer, in form satisfactory to the Company
or the Security Registrar, duly executed by the registered holder or by such holder’s duly authorized attorney in writing. 
 (c) No
service charge shall be made for any exchange or registration of transfer of Securities, or issue of new Securities in case of partial redemption of any series, but the Company may require payment of a sum sufficient to cover any tax or other
governmental charge in relation thereto, other than exchanges pursuant to Section 2.06, Section 3.03(b) and Section 9.04 not involving any transfer. 

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

SECTION 2.06 Temporary Securities. Pending the preparation of definitive Securities of any series, the Company may execute, and the
Trustee shall authenticate and deliver, temporary Securities (printed, lithographed or typewritten) of any authorized denomination. Such temporary Securities shall be substantially in the form of the definitive Securities in lieu of which they are
issued, but with such omissions, insertions and variations as may be appropriate for temporary Securities, all as may be determined by the Company. Every temporary Security of any series shall be executed by the Company and be authenticated by the
Trustee upon the same conditions and in substantially the same manner, and with like effect, as the definitive Securities of such series. Without unnecessary delay the Company will execute and will furnish definitive Securities of such series and
thereupon any or all temporary Securities of such series may be surrendered in exchange therefor (without charge to the holders), at the office or agency of the Company designated for the purpose in the Borough of Manhattan, the City and State of
New York, and the Trustee shall authenticate and such office or agency shall deliver in exchange for such temporary Securities an equal aggregate principal amount of definitive Securities of such series, unless the Company advises the Trustee to the
effect that definitive Securities need not be executed and furnished until further notice from the Company. Until so exchanged, the temporary Securities of such series shall be entitled to the same benefits under this Indenture as definitive
Securities of such series authenticated and delivered hereunder. 

  
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 SECTION 2.07 Mutilated, Destroyed, Lost or Stolen Securities. In case any temporary
or definitive Security shall become mutilated or be destroyed, lost or stolen, the Company (subject to the next succeeding sentence) shall execute, and upon the Company’s request the Trustee (subject as aforesaid) shall authenticate and
deliver, a new Security of the same series, bearing a number not contemporaneously outstanding, in exchange and substitution for the mutilated Security, or in lieu of and in substitution for the Security so destroyed, lost or stolen. In every case
the applicant for a substituted Security shall furnish to the Company and the Trustee such security or indemnity as may be required by them to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also
furnish to the Company and the Trustee evidence to their satisfaction of the destruction, loss or theft of the applicant’s Security and of the ownership thereof. The Trustee may authenticate any such substituted Security and deliver the same
upon the written request or authorization of any officer of the Company. Upon the issuance of any substituted Security, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in
relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. In case any Security that has matured or is about to mature shall become mutilated or be destroyed, lost or stolen, the Company may,
instead of issuing a substitute Security, pay or authorize the payment of the same (without surrender thereof except in the case of a mutilated Security) if the applicant for such payment shall furnish to the Company and the Trustee such security or
indemnity as they may require to save them harmless, and, in case of destruction, loss or theft, evidence to the satisfaction of the Company and the Trustee of the destruction, loss or theft of such Security and of the ownership thereof. 

Every replacement Security issued pursuant to the provisions of this Section shall constitute an additional contractual obligation of the Company whether or
not the mutilated, destroyed, lost or stolen Security shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of the same
series duly issued hereunder. All Securities shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities, and shall
preclude (to the extent lawful) any and all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments or other securities without
their surrender. 
 SECTION 2.08 Cancellation. All Securities surrendered for the purpose of payment, redemption, exchange or
registration of transfer shall, if surrendered to the Company or any paying agent, be delivered to the Trustee for cancellation, or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except as
expressly required or permitted by any of the provisions of this Indenture. On request of the Company at the time of such surrender, the Trustee shall deliver to the Company canceled Securities held by the Trustee. In the absence of such request the
Trustee may dispose of canceled Securities in accordance with its standard procedures and deliver a certificate of disposition to the Company. If the Company shall otherwise acquire any of the Securities, however, such acquisition shall not operate
as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation. 

  
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 SECTION 2.09 Benefits of Indenture. Nothing in this
Indenture or in the Securities, express or implied, shall give or be construed to give to any Person, other than the parties hereto and the holders of the Securities any legal or equitable right, remedy or claim under or in respect of this
Indenture, or under any covenant, condition or provision herein contained; all such covenants, conditions and provisions being for the sole benefit of the parties hereto and of the holders of the Securities. 

SECTION 2.10 Authenticating Agent. So long as any of the Securities of any series remain Outstanding there may be an Authenticating
Agent for any or all such series of Securities which the Trustee shall have the right to appoint. Said Authenticating Agent shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon exchange, transfer
or partial redemption thereof, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. All references in this Indenture to
the authentication of Securities by the Trustee shall be deemed to include authentication by an Authenticating Agent for such series. Each Authenticating Agent shall be acceptable to the Company and shall be a corporation that has a combined capital
and surplus, as most recently reported or determined by it, sufficient under the laws of any jurisdiction under which it is organized or in which it is doing business to conduct a trust business, and that is otherwise authorized under such laws to
conduct such business and is subject to supervision or examination by Federal or State authorities. If at any time any Authenticating Agent shall cease to be eligible in accordance with these provisions, it shall resign immediately. 

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

SECTION 2.11 Global Securities. 

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

  
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 (b) Notwithstanding the provisions of Section 2.05, the Global Security of a series may
be transferred, in whole but not in part and in the manner provided in Section 2.05, only to another nominee of the Depositary for such series, or to a successor Depositary for such series selected or approved by the Company or to a nominee of
such successor Depositary. 
 (c) If at any time the Depositary for a series of the Securities notifies the Company that it is unwilling or
unable to continue as Depositary for such series or if at any time the Depositary for such series shall no longer be registered or in good standing under the Exchange Act, or other applicable statute or regulation, and a successor Depositary for
such series is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such condition, as the case may be, this Section 2.11 shall no longer be applicable to the Securities of such series and the
Company will execute, and subject to Section 2.05, the Trustee will authenticate and deliver the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to
the principal amount of the Global Security of such series in exchange for such Global Security. In addition, the Company may at any time determine that the Securities of any series shall no longer be represented by a Global Security and that the
provisions of this Section 2.11 shall no longer apply to the Securities of such series. In such event the Company will execute and subject to Section 2.05, the Trustee, upon receipt of an Officers’ Certificate evidencing such
determination by the Company, will authenticate and deliver the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global
Security of such series in exchange for such Global Security. Upon the exchange of the Global Security for such Securities in definitive registered form without coupons, in authorized denominations, the Global Security shall be canceled by the
Trustee. Such Securities in definitive registered form issued in exchange for the Global Security pursuant to this Section 2.11(c) shall be registered in such names and in such authorized denominations as the Depositary, pursuant to
instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. The Trustee shall deliver such Securities to the Depositary for delivery to the Persons in whose names such Securities are so registered. 

ARTICLE III 
 REDEMPTION OF
SECURITIES AND SINKING 
 FUND PROVISIONS 

SECTION 3.01 Redemption. The Company may redeem the Securities of any series issued hereunder on and
after the dates and in accordance with the terms established for such series pursuant to Section 2.01 hereof. 
 SECTION 3.02 Notice
of Redemption. 
 (a) In case the Company shall desire to exercise such right to redeem all or, as the case may be, a portion of the
Securities of any series in accordance with the right reserved so to do, the Company shall, or shall cause the Trustee to, give notice of such redemption to holders of the Securities of such series to be redeemed by mailing, first class postage
prepaid, a notice of such redemption not less than 30 days and not more than 90 days before the date fixed for redemption of that series to such holders at their last addresses as they shall appear upon the

  
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Security Register unless a shorter period is specified in the Securities to be redeemed. Any notice that is mailed in the manner herein provided shall be conclusively presumed to have been duly
given, whether or not the registered holder receives the notice. In any case, failure duly to give such notice to the holder of any Security of any series designated for redemption in whole or in part, or any defect in the notice, shall not affect
the validity of the proceedings for the redemption of any other Securities of such series or any other series. In the case of any redemption of Securities prior to the expiration of any restriction on such redemption provided in the terms of such
Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officers’ Certificate evidencing compliance with any such restriction. Each such notice of redemption shall specify the date fixed for redemption and the
redemption price at which Securities of that series are to be redeemed, and shall state that payment of the redemption price of such Securities to be redeemed will be made at the office or agency of the Company in the Borough of Manhattan, the City
and State of New York, upon presentation and surrender of such Securities, that interest accrued to the date fixed for redemption will be paid as specified in said notice, that from and after said date interest will cease to accrue and that the
redemption is for a sinking fund, if such is the case. If less than all the Securities of a series are to be redeemed, the notice to the holders of Securities of that series to be redeemed in whole or in part shall specify the particular Securities
to be so redeemed. In case any Security is to be redeemed in part only, the notice that relates to such Security shall state the portion of the principal amount thereof to be redeemed, and shall state that on and after the redemption date, upon
surrender of such Security, a new Security or Securities of such series in principal amount equal to the unredeemed portion thereof will be issued. 

(b) If less than all the Securities of a series are to be redeemed, the Company shall give the Trustee at least 30 days’ notice in
advance of the date fixed for redemption as to the aggregate principal amount of Securities of the series to be redeemed, and thereupon the Trustee shall select, by lot or in such other manner as it shall deem appropriate and fair in its discretion
and that may provide for the selection of a portion or portions (equal to one thousand U.S. dollars ($1,000) or any integral multiple thereof) of the principal amount of such Securities of a denomination larger than $1,000, the Securities to be
redeemed and shall thereafter promptly notify the Company in writing of the numbers of the Securities to be redeemed, in whole or in part. The Company may, if and whenever it shall so elect, by delivery of instructions signed on its behalf by its
President or any Vice President, instruct the Trustee or any paying agent to call all or any part of the Securities of a particular series for redemption and to give notice of redemption in the manner set forth in this Section, such notice to be in
the name of the Company or its own name as the Trustee or such paying agent may deem advisable. In any case in which notice of redemption is to be given by the Trustee or any such paying agent, the Company shall deliver or cause to be delivered to,
or permit to remain with, the Trustee or such paying agent, as the case may be, such Security Register, transfer books or other records, or suitable copies or extracts therefrom, sufficient to enable the Trustee or such paying agent to give any
notice by mail that may be required under the provisions of this Section. 

  
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 SECTION 3.03 Payment Upon Redemption. 

(a) If the giving of notice of redemption shall have been completed as above provided, the Securities or portions of Securities of the series
to be redeemed specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with interest accrued to the date fixed for redemption and interest on such
Securities or portions of Securities shall cease to accrue on and after the date fixed for redemption, unless the Company shall default in the payment of such redemption price and accrued interest with respect to any such Security or portion
thereof. On presentation and surrender of such Securities on or after the date fixed for redemption at the place of payment specified in the notice, said Securities shall be paid and redeemed at the applicable redemption price for such series,
together with interest accrued thereon to the date fixed for redemption (but if the date fixed for redemption is an interest payment date, the interest installment payable on such date shall be payable to the registered holder at the close of
business on the applicable record date pursuant to Section 2.03). 
 (b) Upon presentation of any Security of such series that is to be
redeemed in part only, the Company shall execute and the Trustee shall authenticate and the office or agency where the Security is presented shall deliver to the holder thereof, at the expense of the Company, a new Security of the same series of
authorized denominations in principal amount equal to the unredeemed portion of the Security so presented. 

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

The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a “mandatory sinking fund
payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an “optional sinking fund payment.” If provided for by the terms of Securities of any series,
the cash amount of any sinking fund payment may be subject to reduction as provided in Section 3.05. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such
series. 
 SECTION 3.05 Satisfaction of Sinking Fund Payments with Securities. The Company (i) may deliver Outstanding
Securities of a series (other than any Securities previously called for redemption) and (ii) may apply as a credit Securities of a series that have been redeemed either at the election of the Company pursuant to the terms of such Securities or
through the application of permitted optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series required to be
made pursuant to the terms of such Securities as provided for by the terms of such series, provided that such Securities have not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the
redemption price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. 

SECTION 3.06 Redemption of Securities for Sinking Fund. Not less than 45 days prior to each sinking
fund payment date for any series of Securities, the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of the series, the portion
thereof, if any, that is to be satisfied by delivering and crediting Securities of that series pursuant to Section 3.05 and the basis for such credit and will, together with such Officers’ Certificate, deliver to the Trustee any Securities
to be so delivered. Not less than 30 days before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 3.02 and cause notice of the
redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 3.02. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated
in Section 3.03. 

  
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 ARTICLE IV 

COVENANTS 
 
SECTION 4.01 Payment of Principal, Premium and Interest. The Company will duly and punctually pay or cause to be paid the principal of (and premium, if any) and interest on the Securities of that series at the time and place and in the
manner provided herein and established with respect to such Securities. 
 SECTION 4.02 Maintenance of Office or Agency. So long as
any series of the Securities remain Outstanding, the Company agrees to maintain an office or agency in the Borough of Manhattan, the City and State of New York, with respect to each such series and at such other location or locations as may be
designated as provided in this Section 4.02, where (i) Securities of that series may be presented or surrendered for payment, (ii) Securities of that series may be presented as herein above authorized for registration of transfer and
exchange, and (iii) notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be given or served, such designation to continue with respect to such office or agency until the Company shall, by
written notice signed by its President or a Vice President and delivered to the trustee, designate some other office or agency for such purposes or any of them. If at any time the Company shall fail to maintain any such required office or agency or
shall fail to furnish the Trustee with the address thereof, such presentations, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such
presentations, notices and demands. 
 SECTION 4.03 Paying Agents. 

(a) If the Company shall appoint one or more paying agents for all or any series of the Securities, other than the Trustee, the Company will
cause each such paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section: 

(1) that it will hold all sums held by it as such agent for the payment of the principal of (and premium, if any) or interest on the
Securities of that series (whether such sums have been paid to it by the Company or by any other obligor of such Securities) in trust for the benefit of the Persons entitled thereto; 

(2) that it will give the Trustee notice of any failure by the Company (or by any other obligor of such Securities) to make any payment of
the principal of (and premium, if any) or interest on the Securities of that series when the same shall be due and payable; 

  
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 (3) that it will, at any time during the continuance of any failure referred to in the
preceding paragraph (a)(2) above, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such paying agent; and 

(4) that it will perform all other duties of paying agent as set forth in this Indenture. 

(b) If the Company shall act as its own paying agent with respect to any series of the Securities, it will on or before each due date of the
principal of (and premium, if any) or interest on Securities of that series, set aside, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient with monies held by all other paying agents to pay such principal
(and premium, if any) or interest so becoming due on Securities of that series until such sums shall be paid to such 
 Persons or otherwise
disposed of as herein provided and will promptly notify the Trustee of such action, or any failure (by it or any other obligor on such Securities) to take such action. Whenever the Company shall have one or more paying agents for any series of
Securities, it will, prior to each due date of the principal of (and premium, if any) or interest on any Securities of that series, deposit with the paying agent a sum sufficient to pay the principal (an premium, if any) or interest so becoming due,
such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such paying agent is the Trustee) the Company will promptly notify the Trustee of this action or failure so to act. 

(c) Notwithstanding anything in this Section to the contrary, (i) the agreement to hold sums in trust as provided in this Section is
subject to the provisions of Section 11.05, and (ii) the Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or direct any paying agent to pay, to the
Trustee all sums held in trust by the Company or such paying agent, such sums to be held by the Trustee upon the same terms and conditions as those upon which such sums were held by the Company or such paying agent; and, upon such payment by any
paying agent to the Trustee, such paying agent shall be released from all further liability with respect to such money. 
 SECTION 4.04
Appointment to Fill Vacancy in Office of Trustee. The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in Section 7.10, a Trustee, so that there shall at all times be a
Trustee hereunder. 
 SECTION 4.05 Compliance with Consolidation Provisions. The Company will not, while any of the Securities remain
Outstanding, consolidate with or merge into any other Person, in either case where the Company is not the survivor of such transaction, or sell or convey all or substantially all of its property to any other company unless the provisions of Article
X hereof are complied with. 

  
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 ARTICLE V 

SECURITYHOLDERS’ LISTS AND REPORTS 

BY THE COMPANY AND THE TRUSTEE 

SECTION 5.01 Company to Furnish Trustee Names and Addresses of Securityholders. If the Company is not the Security Register, the
Company will furnish or use reasonable efforts to cause to be furnished to the Trustee (a) on each regular record date (as defined in Section 2.03) a list, in such form as the Trustee may reasonably require, of the names and addresses of
the holders of each series of Securities as of such regular record date, provided that the Company shall not be obligated to furnish or cause to furnish such list at any time that the list shall not differ in any respect from the most recent list
furnished to the Trustee by the Company and (b) at such other times as the Trustee may request in writing within 30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days
prior to the time such list is furnished; provided, however, that, in either case, no such list need be furnished for any series for which the Trustee shall be the Security Registrar. 

SECTION 5.02 Preservation of Information; Communications with Securityholders. 

(a) The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the
holders of Securities contained in the most recent list furnished to it as provided in Section 5.01 and as to the names and addresses of holders of Securities received by the Trustee in its capacity as Security Registrar (if acting in such
capacity) and shall otherwise comply with Section 312(a) of the Trust Indenture Act. 
 (b) The Trustee may destroy any list furnished
to it as provided in Section 5.01 upon receipt of a new list so furnished. 
 (c) Securityholders may communicate as provided in
Section 312(b) of the Trust Indenture Act with other Securityholders with respect to their rights under this Indenture or under the Securities. 

SECTION 5.03 Reports by the Company. 

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

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

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

SECTION 5.04 Reports by the Trustee. 

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

(b) A copy of each such report shall, at the time of such transmission to Securityholders, be filed by the Trustee with the Company, with each
stock exchange upon which any Securities are listed (if so listed) and, if required by Section 313 of the Trust Indenture Act, also with the Commission. The Company agrees to notify the Trustee when any Securities become listed on any stock
exchange. 
 ARTICLE VI 

REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS 

ON EVENT OF DEFAULT 
 SECTION 6.01
Events of Default. 
 (a) Whenever used herein with respect to Securities of a particular series, “Event of Default” means
any one or more of the following events that has occurred and is continuing: 
 (1) the Company defaults in the payment of any installment
of interest upon any of the Securities of that series, as and when the same shall become due and payable, and continuance of such default for a period of 90 days; provided, however, that a valid extension of an interest payment period by the Company
in accordance with the terms of any indenture supplemental hereto shall not constitute a default in the payment of interest for this purpose; 

(2) the Company defaults in the payment of the principal of (or premium, if any, on) any of the Securities of that series as and when the
same shall become due and payable whether at maturity, upon redemption, by declaration or otherwise, or in any payment required by any sinking or analogous fund established with respect to that series; provided, however, that a valid extension of
the maturity of such Securities in accordance with the terms of any indenture supplemental hereto shall not constitute a default in the payment of principal or premium, if any; 

  
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 (3) the Company fails to observe or perform any other of its covenants or agreements with
respect to that series contained in this Indenture or otherwise established with respect to that series of Securities pursuant to Section 2.01 hereof (other than a covenant or agreement that has been expressly included in this Indenture solely
for the benefit of one or more series of Securities other than such series) for a period of 90 days after the date on which written notice of such failure, requiring the same to be remedied and stating that such notice is a “Notice of
Default” hereunder, shall have been given to the Company by the Trustee, by registered or certified mail, or to the Company and the Trustee by the holders of not less than a majority in principal amount of the Securities of that series at the
time Outstanding; 
 (4) the Company pursuant to or within the meaning of any Bankruptcy Law (i) commences a voluntary case,
(ii) consents to the entry of an order for relief against it in an involuntary case, (iii) consents to the appointment of a Custodian of it or for all or substantially all of its property or (iv) makes a general assignment for the
benefit of its creditors; or 
 (5) a court of competent jurisdiction enters an order under any Bankruptcy Law that (i) is for relief
against the Company in an involuntary case, (ii) appoints a Custodian of the Company for all or substantially all of its property, or (iii) orders the liquidation of the Company, and the order or decree remains unstayed and in effect for
90 consecutive days. 
 (b) In each and every such case, unless the principal of all the Securities of that series shall have already become
due and payable, either the Trustee or the holders of not less than a majority in aggregate principal amount of the Securities of that series then Outstanding hereunder, by notice in writing to the Company (and to the Trustee if given by such
Securityholders), may declare the principal (or, if any Securities of that series are discount securities, that portion of the principal amount as may be specified in the terms of that series pursuant to Section 2.01(a)(16)) of (and premium, if
any, on) and accrued and unpaid interest, if any, on all the Securities of that series to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable. 

(c) At any time after the principal of the Securities of that series shall have been so declared due and payable, and before a judgment or
decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the holders of a majority in aggregate principal amount of the Securities of that series then Outstanding hereunder (or, by action at a meeting of
holders of the Securities of such series in accordance with Section 8.09, the holders of a majority in aggregate principal amount of the Securities of such series then Outstanding represented at such meeting), by written notice to the Company
and the Trustee, may rescind and annul such declaration and its consequences if: (i) the Company has paid or deposited with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of that series and the
principal of (and premium, if any, on) any and all Securities of that series that shall have become due otherwise than by acceleration and (ii) any and all Events of Default under this Indenture with respect to such series, other than the
nonpayment of principal of (and premium, if any, on) and accrued and unpaid interest, if any, on Securities of that series that shall have become due solely because of such acceleration, shall have been remedied, cured or waived as provided in
Section 6.06. No such rescission and annulment shall extend to or shall affect any subsequent default or impair any right consequent thereon. 

  
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 (d) In case the Trustee shall have proceeded to enforce any right with respect to Securities
of that series under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission or annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case,
subject to any determination in such proceedings, the Company, and the Trustee shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company and the Trustee shall continue as though
no such proceedings had been taken. 
 SECTION 6.02 Collection of Indebtedness and Suits for Enforcement by Trustee. 

(a) The Company covenants that (1) in case it shall default in the payment of any installment of interest on any of the Securities of a
series, or any payment required by any sinking or analogous fund established with respect to that series as and when the same shall have become due and payable, and such default shall have continued for a period of 90 Business Days, or (2) in
case it shall default in the payment of the principal of (or premium, if any, on) any of the Securities of a series when the same shall have become due and payable, whether upon maturity of the Securities of a series or upon redemption or upon
declaration or otherwise, then, upon demand of the Trustee, the Company will pay to the Trustee, for the benefit of the holders of the Securities of that series, the whole amount that then shall have been become due and payable on all such
Securities for principal (and premium, if any) or interest, or both, as the case may be, with interest upon the overdue principal (and premium, if any) and (to the extent that payment of such interest is enforceable under applicable law) upon
overdue installments of interest at the rate per annum expressed in the Securities of that series; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, and the amount payable to the
Trustee under Section 7.06. 
 (b) If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own
name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceeding to judgment or
final decree, and may enforce any such judgment or final decree against the Company or other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the
Company or other obligor upon the Securities of that series, wherever situated. 
 (c) In case of any receivership, insolvency, liquidation,
bankruptcy, reorganization, readjustment, arrangement, composition or judicial proceedings affected the Company, or its creditors or property, the Trustee shall have power to intervene in such proceedings and take any action therein that may be
permitted by the court and shall (except as may be otherwise provided by law) be entitled to file such proofs of claim and other papers and documents as may be necessary or advisable in order to have the claims of the Trustee and of the holders of
Securities of such series allowed for the entire amount due and payable by the Company under this Indenture at the date of institution of such proceedings and for any additional amount that may become due and payable by the Company after such date,
and to collect and receive any moneys or other property payable or deliverable on any such claim, and to distribute the same after the deduction of the amount payable to the Trustee under Section 7.06; and any receiver, assignee or trustee in
bankruptcy or reorganization is hereby authorized by each of the holders of Securities of such series to make such payments to the Trustee, and, in the event that the Trustee shall consent to the making of such payments directly to such
Securityholders, to pay to the Trustee any amount due it under Section 7.06. 

  
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 (d) All rights of action and of asserting claims under this Indenture, or under any of the
terms established with respect to Securities of that series, may be enforced by the Trustee without the possession of any of such Securities, or the production thereof at any trial or other proceeding relative thereto, and any such suit or
proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for payment to the Trustee of any amounts due under Section 7.06, be for the ratable
benefit of the holders of the Securities of such series. 
 In case of an Event of Default hereunder, the Trustee may in its discretion proceed to protect
and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise, whether for
the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.

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

SECTION 6.03 Application of Moneys Collected. Any moneys collected by the Trustee pursuant to this Article with respect to a particular
series of Securities shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation of the Securities of
that series, and notation thereon the payment, if only partially paid, and upon surrender thereof if fully paid: 
 FIRST: To the payment of costs and
expenses of collection and of all amounts payable to the Trustee under Section 7.06; and 
 SECOND: To the payment of the amounts then due and unpaid
upon Securities of such series for principal (and premium, if any) and interest, in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and
payable on such Securities for principal (and premium, if any) and interest, respectively. 
 SECTION 6.04 Limitation on Suits. No
holder of any Security of any series shall have any right by virtue or by availing of any provision of this Indenture to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Indenture or for the
appointment of a receiver or trustee, or for any other remedy hereunder, unless (i) such holder previously shall have given to the Trustee written notice of an Event of Default and of the 

  
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continuance thereof with respect to the Securities of such series specifying such Event of Default, as hereinbefore provided; (ii) the holders of not less than a majority in aggregate
principal amount of the Securities of such series then Outstanding shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as trustee hereunder; (iii) such holder or holders shall have
offered to the Trustee such reasonable indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby; and (iv) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity,
shall have failed to institute any such action, suit or proceeding and (v) during such 60 day period, the holders of a majority in principal amount of the Securities of that series (or such amount as shall have acted at a meeting of the holders
of Securities of such series pursuant to the provisions of this Indenture) do not give the Trustee a direction inconsistent with the request; provided, however, that no one or more of such holders may use this Indenture to prejudice the rights of
another holder or to obtain preference or priority over another holder. 
 Notwithstanding anything contained herein to the contrary, any other provisions
of this Indenture, the right of any holder of any Security to receive payment of the principal of (and premium, if any) and interest on such Security, as therein provided, on or after the respective due dates expressed in such Security (or in the
case of redemption, on the redemption date), or to institute suit for the enforcement of any such payment on or after such respective dates or redemption date, shall not be impaired or affected without the consent of such holder and by accepting a
Security hereunder it is expressly understood, intended and covenanted by the taker and holder of every Security of such series with every other such taker and holder and the Trustee, that no one or more holders of Securities of such series shall
have any right in any manner whatsoever by virtue or by availing of any provision of this Indenture to affect, disturb or prejudice the rights of the holders of any other of such Securities, or to obtain or seek to obtain priority over or preference
to any other such holder, or to enforce any right under this Indenture, except in the manner herein provided and for the equal, ratable and common benefit of all holders of Securities of such series. For the protection and enforcement of the
provisions of this Section, each and every Securityholder and the Trustee shall be entitled to such relief as can be given either at law or in equity. 

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

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

  
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 SECTION 6.06 Control by Securityholders. The holders of a majority in aggregate
principal amount of the Securities of any series at the time Outstanding, determined in accordance with Section 8.01, shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the
Trustee, or exercising any trust or power conferred on the Trustee with respect to such series; provided, however, that such direction shall not be in conflict with any rule of law or with this Indenture or be unduly prejudicial to the rights of
holders of Securities of any other series at the time Outstanding determined in accordance with Section 8.01. Subject to the provisions of Section 7.01, the Trustee shall have the right to decline to follow any such direction if the
Trustee in good faith shall, by a Responsible Officer or Officers of the Trustee, determine that the proceeding so directed would involve the Trustee in personal liability. The holders either (a) through the written consent of not less than a
majority in aggregate principal amount of the Securities of any series at the time Outstanding or (b) by action at a meeting of holders of the Securities of such series in accordance with Section 8.09, by the holders of a majority in
aggregate principal amount of the Securities of such series then Outstanding represented at such meeting, may on behalf of the holders of all of the Securities of such series waive any past default in the performance of any of the covenants
contained herein or established pursuant to Section 2.01 with respect to such series and its consequences, except a default in the payment of the principal of, or premium, if any, or interest on, any of the Securities of that series as and when
the same shall become due by the terms of such Securities otherwise than by acceleration (unless such default has been cured and a sum sufficient to pay all matured installments of interest and principal and any premium has been deposited with the
Trustee (in accordance with Section 6.01(c)) and except in respect a provision hereof which, under Section 9.02, cannot be modified or amended without the consent of the holders of each Outstanding Security affected; provided however that
this Section shall not limit the right of holders of Securities of a series to rescind and annul any acceleration as set forth in Section 6.01. Upon any such waiver, the default covered thereby shall be deemed to be cured for all purposes of
this Indenture and the Company, the Trustee and the holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other default or impair
any right consequent thereon. The provisions which otherwise would be automatically deemed to be contained in this Indenture pursuant to Section (316)(a)(1) of the Trust Indenture Act are hereby expressly excluded from this Indenture, except to the
extent such provisions are expressly included herein. 
 SECTION 6.07 Undertaking to Pay Costs. All parties to this Indenture agree,
and each holder of any Securities by such holder’s acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit
against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including
reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted
by the Trustee, to any suit instituted by any Securityholder, or group of Securityholders, holding more than 10% in aggregate principal amount of the Outstanding Securities of any series, or to any suit instituted by any Securityholder for the
enforcement of the payment of the principal of (or premium, if any) or interest on any Security of such series, on or after the respective due dates expressed in such Security or established pursuant to this Indenture. 

  
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 ARTICLE VII 

CONCERNING THE TRUSTEE 
 SECTION
7.01 Certain Duties and Responsibilities of Trustee. 
 (a) The Trustee, prior to the occurrence of an Event of Default with respect
to the Securities of a series and after the curing of all Events of Default with respect to the Securities of that series that may have occurred, shall undertake to perform with respect to the Securities of such series such duties and only such
duties as are specifically set forth in this Indenture, and no implied covenants shall be read into this Indenture against the Trustee. In case an Event of Default with respect to the Securities of a series has occurred (that has not been cured or
waived), the Trustee shall exercise with respect to Securities of that series such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the
circumstances in the conduct of his own affairs. 
 (b) No provision of this Indenture shall be construed to relieve the Trustee from
liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that: 
 (1) prior to the
occurrence of an Event of Default with respect to the Securities of a series and after the curing or waiving of all such Events of Default with respect to that series that may have occurred: 

(i) the duties and obligations of the Trustee shall with respect to the Securities of such series be determined solely by the express
provisions of this Indenture, and the Trustee shall not be liable with respect to the Securities of such series except for the performance of such duties and obligations as are specifically set forth in this Indenture, and no implied covenants or
obligations shall be read into this Indenture against the Trustee; and 
 (ii) in the absence of bad faith on the part of the Trustee, the
Trustee may with respect to the Securities of such series conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the
requirements of this Indenture; but in the case of any such certificates or opinions that by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or
not they conform to the requirement of this Indenture; 
 (2) the Trustee shall not be liable for any error of judgment made in good faith
by a Responsible Officer or Responsible Officers of the Trustee, unless it shall be proved that the Trustee, was negligent in ascertaining the pertinent facts; 

(3) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the
direction of the holders of not less than a majority in principal amount of the Securities of any series at the time Outstanding relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred upon the Trustee under this Indenture with respect to the Securities of that series; and 

  
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 (4) None of the provisions contained in this Indenture shall require the Trustee to expend
or risk its own funds or otherwise incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if there is reasonable ground for believing that the repayment of such funds or
liability is not reasonably assured to it under the terms of this Indenture or adequate indemnity against such risk is not reasonably assured to it. 

SECTION 7.02 Certain Rights of Trustee. Except as otherwise provided in Section 7.01: 

(a) The Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument,
opinion, report, notice, request, consent, order, approval, bond, security or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; 

(b) Any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by a Board Resolution or an
instrument signed in the name of the Company, by the President or any Vice President and by the Secretary or an Assistant Secretary or the Treasurer or an Assistant Treasurer thereof (unless other evidence in respect thereof is specifically
prescribed herein); 
 (c) The Trustee may consult with counsel and the written advice of such counsel or any Opinion of Counsel shall be
full and complete authorization and protection in respect of any action taken or suffered or omitted hereunder in good faith and in reliance thereon; 

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

 (e) The Trustee shall not be liable for any action taken or omitted to be taken by it in good faith and believed by it to be authorized
or within the discretion or rights or powers conferred upon it by this Indenture; 
 (f) The Trustee shall not be bound to make any
investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, security, or other papers or documents, unless requested in writing so to do by
the holders of not less than a majority in principal amount of the 

  
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Outstanding Securities of the particular series affected thereby (determined as provided in Section 8.04); provided, however, that if the payment within a reasonable time to the Trustee of
the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee
may require reasonable indemnity against such costs, expenses or liabilities as a condition to so proceeding. The reasonable expense of every such examination shall be paid by the Company or, if paid by the Trustee, shall be repaid by the Company
upon demand; and 
 (g) The Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by
or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder. 

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

(a) The recitals contained herein and in the Securities shall be taken as the statements of the Company, and the Trustee assumes no
responsibility for the correctness of the same. 
 (b) The Trustee makes no representations as to the validity or sufficiency of this
Indenture or of the Securities. 
 (c) The Trustee shall not be accountable for the use or application by the Company of any of the
Securities or of the proceeds of such Securities, or for the use or application of any moneys paid over by the Trustee in accordance with any provision of this Indenture or established pursuant to Section 2.01, or for the use or application of
any moneys received by any paying agent other than the Trustee. 
 SECTION 7.04 May Hold Securities. The Trustee or any paying agent
or Security Registrar, in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not Trustee, paying agent or Security Registrar. 

SECTION 7.05 Moneys Held in Trust. Subject to the provisions of Section 11.05, all moneys received by the Trustee shall, until
used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any moneys
received by it hereunder except such as it may agree with the Company to pay thereon. 
 SECTION 7.06 Compensation and Reimbursement.

 (a) The Company covenants and agrees to pay to the Trustee, and the Trustee shall be entitled to, such reasonable compensation (which
shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust), as the Company, and the Trustee may from time to time agree in writing, for all services rendered by it in the execution of the trusts
hereby created and in the exercise and performance of any of the powers and duties hereunder of the Trustee, and, except as otherwise expressly provided herein, the Company will pay or reimburse the Trustee upon its request for all reasonable
expenses, disbursements and 

  
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advances incurred or made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses and disbursements of its counsel and of
all Persons not regularly in its employ) except any such expense, disbursement or advance as may arise from its negligence or bad faith. The Company also covenants to indemnify the Trustee (and its officers, agents, directors and employees) for, and
to hold it harmless against, any loss, liability or expense incurred without negligence or bad faith on the part of the Trustee and arising out of or in connection with the acceptance or administration of this trust, including the costs and expenses
of defending itself against any claim of liability in the premises. 
 (b) The obligations of the Company under this Section to compensate
and indemnify the Trustee and to pay or reimburse the Trustee for expenses, disbursements and advances shall constitute additional indebtedness hereunder. Such additional indebtedness shall be secured by a lien prior to that of the Securities upon
all property and funds held or collected by the Trustee as such, except funds held in trust for the benefit of the holders of particular Securities. 

SECTION 7.07 Reliance on Officers’ Certificate. Except as otherwise provided in Section 7.01, whenever in the
administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering or omitting to take any action hereunder, such matter (unless other evidence in
respect thereof be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and established by an Officers’ Certificate delivered to the Trustee and such
certificate, in the absence of negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted to be taken by it under the provisions of this Indenture upon the faith thereof. 

SECTION 7.08 Disqualification; Conflicting Interests. If the Trustee has or shall acquire any “conflicting interest” within
the meaning of Section 310(b) of the Trust Indenture Act, the Trustee and the Company shall in all respects comply with the provisions of Section 310(b) of the Trust Indenture Act. 

SECTION 7.09 Corporate Trustee Required; Eligibility. There shall at all times be a Trustee with respect to the Securities issued
hereunder which shall at all times be a corporation organized and doing business under the laws of the United States of America or any State or Territory thereof or of the District of Columbia, or a corporation or other Person permitted to act as
trustee by the Commission, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least 50 million U.S. dollars ($50,000,000), and subject to supervision or examination by Federal, State,
Territorial, or District of Columbia authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section,
the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Company may not, nor may any Person directly or indirectly controlling,
controlled by, or under common control with the Company, serve as Trustee. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the
effect specified in Section 7.10. 

  
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 SECTION 7.10 Resignation and Removal; Appointment of Successor. 

(a) The Trustee or any successor hereafter appointed, may at any time resign with respect to the Securities of one or more series by giving
written notice thereof to the Company and by transmitting notice of resignation by mail, first class postage prepaid, to the Securityholders of such series, as their names and addresses appear upon the Security Register. Upon receiving such notice
of resignation, the Company shall promptly appoint a successor trustee with respect to Securities of such series by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the
resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court
of competent jurisdiction for the appointment of a successor trustee with respect to Securities of such series, or any Securityholder of that series who has been a bona fide holder of a Security or Securities for at least six months may on behalf of
himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee. 

(b) In case at any time any one of the following shall occur: 

(1) the Trustee shall fail to comply with the provisions of Section 7.08 after written request therefor by the Company or by any
Securityholder who has been a bona fide holder of a Security or Securities for at least six months; or 
 (2) the Trustee shall cease to be
eligible in accordance with the provisions of Section 7.09 and shall fail to resign after written request therefor by the Company or by any such Securityholder; or 

(3) the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or commence a voluntary bankruptcy
proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or
liquidation, then, in any such case, the Company may remove the Trustee with respect to all Securities and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument
shall be delivered to the Trustee so removed and one copy to the successor trustee, or, unless the Trustee’s duty to resign is stayed as provided herein, any Securityholder who has been a bona fide holder of a Security or Securities for at
least six months may, on behalf of that holder and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon after such notice, if
any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. 
 (c) The holders of a majority in aggregate
principal amount of the Securities of any series at the time Outstanding may at any time remove the Trustee with respect to such series by so notifying the Trustee and the Company and may appoint a successor Trustee for such series with the consent
of the Company. 

  
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 (d) Any resignation or removal of the Trustee and appointment of a successor trustee with
respect to the Securities of a series pursuant to any of the provisions of this Section shall become effective upon acceptance of appointment by the successor trustee as provided in Section 7.11. 

(e) Any successor trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of
such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series. 
 
SECTION 7.11 Acceptance of Appointment By Successor. 
 (a) In case of the appointment hereunder of a successor trustee with
respect to all Securities, every such successor trustee so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring
Trustee shall become effective and such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor
trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor trustee all the rights, powers, and trusts of the retiring Trustee and shall duly assign, transfer and deliver to
such successor trustee all property and money held by such retiring Trustee hereunder. 
 (b) In case of the appointment hereunder of a
successor trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor trustee with respect to the Securities of one or more series shall execute and deliver an indenture
supplemental hereto wherein each successor trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor trustee all the rights,
powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee relates, (2) shall contain such provisions as shall be deemed necessary or desirable to
confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and
(3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such
supplemental indenture shall constitute such Trustees co-trustees of the same trust, that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder
administered by any other such Trustee and that no Trustee shall be responsible for any act or failure to act on the part of any other Trustee hereunder; and upon the execution and delivery of such supplemental indenture the resignation or removal
of the retiring Trustee shall become effective to the extent provided therein, such retiring Trustee shall with respect to the Securities of that or those series to which the appointment of such successor trustee relates have no further
responsibility for the exercise of rights and powers or for the performance of the duties and obligations vested in the Trustee under this Indenture, and each such successor trustee, without any further act, deed or conveyance, shall become vested
with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee relates; but, on request of the Company or any successor trustee, such
retiring Trustee shall duly assign, transfer and deliver to such successor trustee, to the extent contemplated by such supplemental indenture, the property and money held by such retiring Trustee hereunder with respect to the Securities of that or
those series to which the appointment of such successor trustee relates. 

  
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 (c) Upon request of any such successor trustee, the Company shall execute any and all
instruments for more fully and certainly vesting in and confirming to such successor trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case may be. 

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

SECTION 7.12 Merger, Conversion, Consolidation or Succession to Business. Any corporation into which
the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to the corporate trust
business of the Trustee, shall be the successor of the Trustee hereunder, provided that such corporation shall be qualified under the provisions of Section 7.08 and eligible under the provisions of Section 7.09, without the execution or
filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor
by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities. 

SECTION 7.13 Preferential Collection of Claims Against the Company. The Trustee shall comply with
Section 311(a) of the Trust Indenture Act, excluding any creditor relationship described in Section 311(b) of the Trust Indenture Act. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the Trust
Indenture Act to the extent included therein. 
 ARTICLE VIII 

CONCERNING THE SECURITYHOLDERS 
 
SECTION 8.01 Evidence of Action by Securityholders. Whenever in this Indenture it is provided that the holders of a majority or specified percentage in aggregate principal amount of the Securities of a particular series may take any
action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at the time of taking any such action the holders of such majority or specified percentage of that
series have joined therein may be evidenced by any instrument or any number of instruments of similar tenor executed by such holders of Securities of that series in Person or by agent or proxy appointed in writing. 

  
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 If the Company shall solicit from the Securityholders of any series any request, demand, authorization,
direction, notice, consent, waiver or other action, the Company may, at its option, as evidenced by an Officers’ Certificate, fix in advance a record date for such series for the determination of Securityholders entitled to give such request,
demand, authorization, direction, notice, consent, waiver or other action, but the Company shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other action may
be given before or after the record date, but only the Securityholders of record at the close of business on the record date shall be deemed to be Securityholders for the purposes of determining whether Securityholders of the requisite proportion of
Outstanding Securities of that series have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other action, and for that purpose the Outstanding Securities of that series shall be computed
as of the record date; provided, however, that no such authorization, agreement or consent by such Securityholders on the record date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later
than six months after the record date. 
 SECTION 8.02 Proof of Execution by Securityholders. Subject
to the provisions of Section 7.01, proof of the execution of any instrument by a Securityholder (such proof will not require notarization) or his agent or proxy and proof of the holding by any Person of any of the Securities shall be sufficient
if made in the following manner: 
 (a) The fact and date of the execution by any such Person of any instrument may be proved in any
reasonable manner acceptable to the Trustee. 
 (b) The ownership of Securities shall be proved by the Security Register of such Securities
or by a certificate of the Security Registrar thereof. 
 (c) The Trustee may require such additional proof of any matter referred to in
this Section as it shall deem necessary. 
 SECTION 8.03 Who May be Deemed Owners. Prior to the due
presentment for registration of transfer of any Security, the Company, the Trustee, any paying agent and any Security Registrar may deem and treat the Person in whose name such Security shall be registered upon the books of the Company as the
absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notice of ownership or writing thereon made by anyone other than the Security Registrar) for the purpose of receiving payment of or on account of
the principal of, premium, if any, and (subject to Section 2.03) interest on such Security and for all other purposes; and neither the Company nor the Trustee nor any paying agent nor any Security Registrar shall be affected by any notice to
the contrary. 

  
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 SECTION 8.04 Certain Securities Owned by Company Disregarded. In determining whether
the holders of the requisite aggregate principal amount of Securities of a particular series have concurred in any direction, consent of waiver under this Indenture, the Securities of that series that are owned by the Company or any other obligor on
the Securities of that series or by any Person directly or indirectly controlling or controlled by or under common control with the Company or any other obligor on the Securities of that series shall be disregarded and deemed not to be Outstanding
for the purpose of any such determination, except that for the purpose of determining whether the Trustee shall be protected in relying on any such direction, consent or waiver, only Securities of such series that the Trustee actually knows are so
owned shall be so disregarded. The Securities so owned that have been pledged in good faith may be regarded as Outstanding for the purposes of this Section, if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right
so to act with respect to such Securities and that the pledgee is not a Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any such other obligor. In case of a dispute as to such
right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the Trustee. 

SECTION 8.05 Actions Binding on Future Securityholders. At any time prior to (but not after) the
evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the holders of the majority or percentage in aggregate principal amount of the Securities of a particular series specified in this Indenture in connection
with such action, any holder of a Security of that series that is shown by the evidence to be included in the Securities the holders of which have consented to such action may, by filing written notice with the Trustee, and upon proof of holding as
provided in Section 8.02, revoke such action so far as concerns such Security. Except as aforesaid any such action taken by the holder of any Security shall be conclusive and binding upon such holder and upon all future holders and owners of
such Security, and of any Security issued in exchange therefor, on registration of transfer thereof or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Security. Any action taken by the holders of the
majority or percentage in aggregate principal amount of the Securities of a particular series specified in this Indenture in connection with such action shall be conclusively binding upon the Company, the Trustee and the holders of all the
Securities of that series. 
 SECTION 8.06 Purposes for Which Meetings May Be Called. A meeting of
holders of any series of Securities may be called at any time and from time to time pursuant to this Article to make, give or take any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to
be made, given or taken by holders of such series of Securities. 
 Notwithstanding anything contained in this Article VIII, the Trustee may, during the
pendency of a Default or an Event of Default, call a meeting of holders of any series of Securities in accordance with its standard practices. 

SECTION 8.07 Call Notice and Place of Meetings. 

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

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

SECTION 8.08 Persons Entitled To Vote at Meetings. To be entitled to vote at any meeting of holders of Securities of a given series, a
Person shall be (a) a holder of one or more Outstanding Securities of such series or (b) a Person appointed by an instrument in writing as proxy for a holder or holders of one or more Outstanding Securities of such series by such holder or
holders. The only Persons who shall be entitled to be present or to speak at any meeting of holders shall be the Persons entitled to vote at such meeting and their counsel, any representatives of the Trustee and its counsel and any representatives
of the Company and its counsel. 
 SECTION 8.09 Quorum; Action. The Persons entitled to vote a
majority in aggregate principal amount of the Outstanding Securities of a given series shall constitute a quorum with respect to a meeting of holders of Outstanding Securities of such series. In the absence of a quorum within 30 minutes of the time
appointed for any such meeting, the meeting shall, if convened at the request of holders of Securities of such series, be dissolved. In any other case, the meeting may be adjourned for a period of not less than 10 days as determined by the chairman
of the meeting prior to the adjournment of such meeting. In the absence of a quorum at any such adjourned meeting, such adjourned meeting may be further adjourned for a period of not less than 10 days as determined by the chairman of the meeting
prior to the adjournment of such adjourned meeting. Notice of the reconvening of any adjourned meeting shall be given as provided in Section 8.07(a) hereof, except that such notice need be given only once and not less than five days prior to
the date on which the meeting is scheduled to be reconvened. 
 At a meeting or an adjourned meeting duly reconvened and at which a quorum is present as
aforesaid, any resolution and all matters (except as limited by the proviso to the first paragraph of Section 9.02 hereof) shall be effectively passed and decided if passed or decided by the Persons entitled to vote not less than a majority in
aggregate principal amount of Outstanding Securities of a series represented and voting at such meeting with respect to a meeting of holders of Outstanding Securities of such series. 

Any resolution passed or decisions taken at any meeting of holders of Securities duly held in accordance with this Section shall be binding on all the holders
of Securities of such series, whether or not present or represented at the meeting. 

  
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 SECTION 8.10 Determination of Voting Rights; Conduct and Adjournment of Meetings.

 (a) Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for
any meeting of holders of Securities in regard to proof of the holding of Securities and of the appointment of proxies and in regard to the appointment and duties of inspectors of votes, the submission and examination of proxies, certificates and
other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall deem appropriate. 
 (b) The
Trustee shall, by an instrument in writing, appoint a temporary chairman (which may be the Trustee) of the meeting, unless the meeting shall have been called by the Company or by holders of Securities of a given series as provided in
Section 8.07(b) hereof, in which case the Company or the holders of Securities of such series calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent chairman and a permanent secretary of the
meeting shall be elected by vote of the Persons entitled to vote a majority in principal amount of the Outstanding Securities of such series represented at the meeting. 

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

(d) Any meeting of holders of Securities duly called pursuant to Section 8.07 hereof at which a quorum is present may be adjourned from
time to time by Persons entitled to vote a majority in principal amount of the Outstanding Securities of the series in respect of which such meeting is being held represented at the meeting, and the meeting may be held as so adjourned without
further notice. 
 SECTION 8.11 Counting Votes and Recording Action of Meetings. The vote upon any
resolution submitted to any meeting of holders of Securities of a given series shall be by written ballots on which shall be subscribed the signatures of the holders of Securities of such series or of their representatives by proxy and the principal
amounts and serial numbers of the Outstanding Securities of such series held or represented by them. The permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any
resolution and who shall make and file with the secretary of the meeting their verified written reports in duplicate of all votes cast at the meeting. A record, at least in duplicate, of the proceedings of each meeting of holders of Securities of
such series shall be prepared by the secretary of the meeting and there shall be attached to said record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more Persons having knowledge of
the facts setting forth a copy of the notice of the meeting and showing that said notice was given as provided in Section 8.07 hereof and, if applicable, Section 8.09 hereof. Each copy shall be signed and verified by the affidavits of the
permanent chairman and secretary of the meeting and one such copy shall be delivered to the Company and another to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. Any record so signed
and verified shall be conclusive evidence of the matters therein stated. 

  
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 ARTICLE IX 

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

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

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

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

(e) to add to, delete from, or revise the conditions, limitations, and restrictions on the authorized amount, terms, or purposes of issue,
authentication, and delivery of Securities, as herein set forth; 
 (f) to make any change that does not adversely affect the rights of any
Securityholder in any material respect; 
 (g) to provide for the issuance of and establish the form and terms and conditions of the
Securities of any series as provided in Section 2.01, to establish the form of any certifications required to be furnished pursuant to the terms of this Indenture or any series of Securities, or to add to the rights of the holders of any series
of Securities; or 
 (h) comply with the requirements of the Commission in order to effect or maintain the qualification of this Indenture
under the Trust Indenture Act. 
 The Trustee is hereby authorized to join with the Company in the execution of any such supplemental indenture, and to make
any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to enter into any such supplemental indenture that affects the Trustee’s own rights, duties or immunities under this
Indenture or otherwise. 

  
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 Any supplemental indenture authorized by the provisions of this Section may be executed by the Company and
the Trustee without the consent of the holders of any of the Securities at the time Outstanding, notwithstanding any of the provisions of Section 9.02. 

SECTION 9.02 Supplemental Indentures With Consent of Securityholders. With the written consent of the holders of at least a majority in
aggregate principal amount of the Outstanding Securities of any series or by action at a meeting of holders of the Securities of such series in accordance with Section 8.09, by the holders of a majority in aggregate principal amount of the
Securities of such series then Outstanding represented at such meeting, the Company, when authorized by Board Resolutions, and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto (which shall
conform to the provisions of the Trust Indenture Act as then in effect) for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in
any manner not covered by Section 9.01 the rights of the holders of the Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the holders of each Security then
Outstanding and affected thereby, (i) extend the fixed maturity of any Securities of any series, or reduce the principal amount thereof, or reduce the rate or extend the time of payment of interest thereon, or reduce any premium payable upon
the redemption thereof, (ii) reduce the aforesaid percentage of Securities, the holders of which are required to consent to any such supplemental indenture, or any consent or waiver, (iii) reduce the principal amount of discount securities
payable upon acceleration of the maturity of any Securities of any series or (iv) make the principal of or premium or interest on any Security of a series payable in currency or currency units other than that stated in the Securities of such
series. 
 It shall not be necessary for the consent of the Securityholders of any series affected thereby under this Section to approve the particular form
of any proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof. 
 SECTION 9.03
Effect of Supplemental Indentures. Upon the execution of any supplemental indenture pursuant to the provisions of this Article or of Section 10.01, this Indenture shall, with respect to such series, be and be deemed to be modified and
amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture of the Trustee, the Company and the holders of Securities of the series affected thereby shall thereafter be
determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this
Indenture for any and all purposes. 
 SECTION 9.04 Securities Affected by Supplemental Indentures. Securities of any series affected
by a supplemental indenture, authenticated and delivered after the execution of such supplemental indenture pursuant to the provisions of this Article or of Section 10.01, may bear a notation in form approved by the Company, provided such form
meets the requirements of any exchange upon which such series may be listed, as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of that series so modified as to conform, in the opinion of
the Board of Directors of the Company, to any modification of this Indenture contained in any such supplemental indenture may be prepared by the Company, authenticated by the Trustee and delivered in exchange for the Securities of that series then
Outstanding. 

  
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 SECTION 9.05 Execution of Supplemental Indentures.
Upon the request of the Company, accompanied by its Board Resolutions authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent of Securityholders required to consent thereto as
aforesaid, the Trustee shall join with the Company in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the
Trustee may in its discretion but shall not be obligated to enter into such supplemental indenture. The Trustee, subject to the provisions of Section 7.01, may receive an Opinion of Counsel as conclusive evidence that any supplemental indenture
executed pursuant to this Article is authorized or permitted by, and conforms to, the terms of this Article and that it is proper for the Trustee under the provisions of this Article to join in the execution thereof; provided, however, that such
Opinion of Counsel need not be provided in connection with the execution of a supplemental indenture that establishes the terms of a series of Securities pursuant to Section 2.01 hereof. 

Promptly after the execution by the Company and the Trustee of any supplemental indenture pursuant to the provisions of this Section, the Trustee shall
transmit by mail, first class postage prepaid, a notice, setting forth in general terms the substance of such supplemental indenture, to the Securityholders of all series affected thereby as their names and addresses appear upon the Security
Register. Any failure of the Trustee to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture. 

ARTICLE X 
 SUCCESSOR ENTITY 

SECTION 10.01 Company May Consolidate, Etc. Nothing contained in this Indenture or in any of the
Securities shall prevent any consolidation or merger of the Company with or into any other Person (whether or not affiliated with the Company) or successive consolidations or mergers in which the Company or its successor or successors shall be a
party or parties, or shall prevent any sale, conveyance, transfer or other disposition of the property of the Company or its successor or successors as an entirety, or substantially as an entirety, to any other corporation (whether or not affiliated
with the Company or its successor or successors) authorized to acquire and operate the same; provided, however, the Company hereby covenants and agrees that, upon any such consolidation or merger (in each case, if the Company is not the survivor of
such transaction), sale, conveyance, transfer or other disposition, the due and punctual payment of the principal of (premium, if any) and interest on all of the Securities of all series in accordance with the terms of each series, according to
their tenor and the due and punctual performance and observance of all the covenants and conditions of this Indenture with respect to each series or established with respect to such series pursuant to Section 2.01 to be kept or performed by the
Company shall be expressly assumed, by supplemental indenture (which shall conform to the provisions of the Trust Indenture Act, as then in effect) satisfactory in form to the Trustee executed and delivered to the Trustee by the entity formed by
such consolidation, or into which the Company shall have been merged, or by the entity which shall have acquired such property. 

  
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 SECTION 10.02 Successor Entity Substituted. 

(a) In case of any such consolidation, merger, sale, conveyance, transfer or other disposition and upon the assumption by the successor entity
by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the due and punctual payment of the principal of, premium, if any, and interest on all of the Securities of all series Outstanding and the
due and punctual performance of all of the covenants and conditions of this Indenture or established with respect to each series of the Securities pursuant to Section 2.01 to be performed by the Company with respect to each series, such
successor entity shall succeed to and be substituted for the Company with the same effect as if it had been named as the Company herein, and thereupon the predecessor corporation shall be relieved of all obligations and covenants under this
Indenture and the Securities. 
 (b) In case of any such consolidation, merger, sale, conveyance, transfer or other disposition such changes
in phraseology and form (but not in substance) may be made in the Securities thereafter to be issued as may be appropriate. 
 (c) Nothing
contained in this Article shall require any action by the Company in the case of a consolidation or merger of any Person into the Company where the Company is the survivor of such transaction, or the acquisition by the Company, by purchase or
otherwise, of all or any part of the property of any other Person (whether or not affiliated with the Company). 
 SECTION 10.03 Evidence
of Consolidation, Etc. to Trustee. The Trustee, subject to the provisions of Section 7.01, may receive an Opinion of Counsel as conclusive evidence that any such consolidation, merger, sale, conveyance, transfer or other disposition, and
any such assumption, comply with the provisions of this Article. 
 ARTICLE XI 

SATISFACTION AND DISCHARGE 
 
SECTION 11.01 Satisfaction and Discharge of Indenture. If at any time: (a) the Company shall have delivered to the Trustee for cancellation all Securities of a series theretofore authenticated (other than any Securities that shall
have been destroyed, lost or stolen and that shall have been replaced or paid as provided in Section 2.07) and Securities for whose payment money or Governmental Obligations have theretofore been deposited in trust or segregated and held in
trust by the Company (and thereupon repaid to the Company or discharged from such trust, as provided in Section 11.05); or (b) all such Securities of a particular series not theretofore delivered to the Trustee for cancellation shall have
become due and payable, or are by their terms to become due and payable within one year or are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption, and the Company shall
deposit or cause to be deposited with the Trustee as trust funds the entire amount in moneys or Governmental Obligations sufficient or a combination thereof, sufficient (assuming that no tax liability will be imposed on the Trustee) in the opinion
of a nationally recognized firm 

  
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of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay at maturity or upon redemption all Securities of that series not theretofore
delivered to the Trustee for cancellation, including principal (and premium, if any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid
all other sums payable hereunder with respect to such series by the Company then this Indenture shall thereupon cease to be of further effect with respect to such series except for the provisions of Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03 and
7.10, that shall survive until the date of maturity or redemption date, as the case may be, and Sections 7.06 and 11.05, that shall survive to such date and thereafter, and the Trustee, on demand of the Company and at the cost and expense of the
Company shall execute proper instruments acknowledging satisfaction of and discharging this Indenture with respect to such series. 

SECTION 11.02 Discharge of Obligations. If at any time all such Securities of a particular series not heretofore delivered to the
Trustee for cancellation or that have not become due and payable as described in Section 11.01 shall have been paid by the Company by depositing irrevocably with the Trustee as trust funds moneys or an amount of Governmental Obligations
sufficient to pay at maturity or upon redemption all such Securities of that series not theretofore delivered to the Trustee for cancellation, including principal (and premium, if any) and interest due or to become due to such date of maturity or
date fixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums payable hereunder by the Company with respect to such series, then after the date such moneys or Governmental Obligations, as the
case may be, are deposited with the Trustee the obligations of the Company under this Indenture with respect to such series shall cease to be of further effect except for the provisions of Sections 2.03, 2.05, 2.07, 4,01, 4.02, 4.03, 7.06, 7.10 and
11.05 hereof that shall survive until such Securities shall mature and be paid thereafter, Sections 7.06 and 11.05 shall survive. 
 
SECTION 11.03 Deposited Moneys to be Held in Trust. Subject to Section 11.05, all moneys or Governmental Obligations deposited with the Trustee pursuant to Sections 11.01 or 11.02 shall be held in trust and shall be available for
payment as due, either directly or through any paying agent (including the Company acting as its own paying agent), to the holders of the particular series of Securities for the payment or redemption of which such moneys or Governmental Obligations
have been deposited with the Trustee. 
 SECTION 11.04 Payment of Moneys Held by Paying Agents. In
connection with the satisfaction and discharge of this Indenture all moneys or Governmental Obligations then held by any paying agent under the provisions of this Indenture shall, upon demand of the Company, be paid to the Trustee and thereupon such
paying agent shall be released from all further liability with respect to such moneys or Governmental Obligations. 
 
SECTION 11.05 Repayment to Company. Any moneys or Governmental Obligations deposited with any paying agent or the Trustee, or then held by the Company, in trust for payment of principal of or premium or interest on the Securities of a
particular series that are not applied but remain unclaimed by the holders of such Securities for two years after the date upon which the principal of (and premium, if any) or interest on such Securities shall have respectively become due and
payable, shall be repaid to the Company or (if then held by the 

  
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Company) shall be discharged from such trust in each case, promptly after the end of any such two-year period or, at the request of the Company, on a later
date specified by the Company; and thereupon the paying agent and the Trustee shall be released from all further liability with respect to such moneys or Governmental Obligations, and the holder of any of the Securities entitled to receive such
payment shall thereafter, as an unsecured general creditor, look only to the Company for the payment thereof. 
 ARTICLE XII 

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS 

SECTION 12.01 No Recourse. No recourse under or upon any obligation, covenant or agreement of this
Indenture, or of any Security, or for any claim based thereon or otherwise in respect thereof, shall be had against any incorporator, stockholder, officer or director, past, present or future as such, of the Company or of any predecessor or
successor corporation, either directly or through the Company or any such predecessor or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being
expressly understood that this Indenture and the obligations issued hereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers or
directors as such, of the Company or of any predecessor or successor corporation, or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this
Indenture or in any of the Securities or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against,
every such incorporator, stockholder, officer or director as such, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the
Securities or implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issuance of such Securities. 

ARTICLE XIII 
 MISCELLANEOUS
PROVISIONS 
 SECTION 13.01 Effect on Successors and Assigns. All the covenants, stipulations,
promises and agreements in this Indenture contained by or on behalf of the Company shall bind its successors and assigns, whether so expressed or not. 

SECTION 13.02 Actions by Successor. Any act or proceeding by any provision of this Indenture authorized
or required to be done or performed by any board, committee or officer of the Company shall and may be done and performed with like force and effect by the corresponding board, committee or officer of any corporation that shall at the time be the
lawful successor of the Company. 
 SECTION 13.03 Surrender of Company Powers. The Company by
instrument in writing executed by authority of its Board of Directors and delivered to the Trustee may surrender any of the powers reserved to the Company, and thereupon such power so surrendered shall terminate both as to the Company and as to any
successor corporation. 

  
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 SECTION 13.04 Notices. Except as otherwise expressly
provided herein any notice or demand that by any provision of this Indenture is required or permitted to be given or served by the Trustee or by the holders of Securities to or on the Company may be given or served by being deposited first class
postage prepaid in a post-office letterbox addressed (until another address is filed in writing by the Company with the Trustee), as follows: Codiak BioSciences, Inc., Attn: Chief Financial Officer, 35 CambridgePark Drive, Suite 500, Cambridge, MA
02140. Any notice, election, request or demand by the Company or any Securityholder to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or made in writing at the Corporate Trust Office of the
Trustee. Any notice or communication to a holder shall be mailed by first-class mail to his address shown on the Security Register kept by the Security Registrar. 

Failure to mail a notice or communication to a holder or any defect in such notice or communication shall not affect its sufficiency with respect to other
holders. If a notice or communication is mailed or sent in the manner provided above within the time prescribed, it is duly given as of the date it is mailed, whether or not the addressee receives it, except that notice to the Trustee or the Company
shall only be effective upon receipt thereof by the Trustee or the Company, respectively. If the Company mails a notice or communication to holders of Securities, it shall mail a copy to the Trustee at the same time. 

SECTION 13.05 Governing Law. This Indenture and each Security shall be deemed to be a contract made
under the internal laws of the State of New York, and for all purposes shall be construed in accordance with the laws of said State. 
 
SECTION 13.06 Treatment of Securities as Debt. It is intended that the Securities will be treated as indebtedness and not as equity for federal income tax purposes. The provisions of this Indenture shall be interpreted to further this
intention. 
 SECTION 13.07 Compliance Certificates and Opinions. 

(a) Upon any application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture, the
Company, shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of
such counsel all such conditions precedent have been complied with, except that in the case of any such application or demand as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such
particular application or demand, no additional certificate or opinion need be furnished. 
 (b) Each certificate or opinion provided for in
this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant in this Indenture shall include (1) a statement that the Person making such certificate or opinion has read such covenant or condition;
(2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; (3) a statement that, in the opinion of such Person, he has made
such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and (4) a statement as to whether or not, in the opinion of such Person, such
condition or covenant has been complied with. 

  
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 SECTION 13.08 Payments on Business Days. Except as
provided pursuant to Section 2.01 pursuant to a Board Resolution, and as set forth in an Officers’ Certificate, or established in one or more indentures supplemental to this Indenture, in any case where the date of maturity of interest or
principal of any Security or the date of redemption of any Security shall not be a Business Day, then payment of interest or principal (and premium, if any) may be made on the next succeeding Business Day with the same force and effect as if made on
the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date. 
 
SECTION 13.09 Conflict with Trust Indenture Act. If and to the extent that any provision of this Indenture limits, qualifies or conflicts with the duties imposed by Sections 310 to 317, inclusive, of the Trust Indenture Act, such imposed
duties shall control. 
 SECTION 13.10 Counterparts. This Indenture may be executed in any number of
counterparts, each of which shall be an original, but such counterparts shall together constitute but one and the same instrument. 
 
SECTION 13.11 Separability. In case any one or more of the provisions contained in this Indenture or in the Securities of any series shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability shall not affect any other provisions of this Indenture or of such Securities, but this Indenture and such Securities shall be construed as if such invalid or illegal or unenforceable provision had never been contained
herein or therein. 
 SECTION 13.12 Assignment. The Company will have the right at all times to
assign any of its rights or obligations under this Indenture to a direct or indirect wholly-owned Subsidiary of the Company, provided that, in the event of any such assignment, the Company, will remain liable for all such obligations. Subject to the
foregoing, this Indenture is binding upon and inures to the benefit of the parties thereto and their respective successors and assigns. This Indenture may not otherwise be assigned by the parties thereto. 

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

 

			
	CODIAK BIOSCIENCES, INC.
		
	By:	 	 
		 	Name:
		 	Title:

  
 48 

 
			
	 [•],
 As Trustee

		
	By:	 	 
		 	Name:
		 	Title:

  
 49

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