Document:

December 17, 2020 8-K Exhibit 10.2

Exhibit 10.2

SECURITY AGREEMENT

      SECURITY AGREEMENT (this "Agreement"), dated as of December 11, 2020, by and between SEELOS THERAPEUTICS, INC.,
a Nevada corporation (the "Company") and LIND GLOBAL ASSET MANAGEMENT II, LLC (the "Secured Party").

      WHEREAS, the Company (a) and the Secured Party have entered into that certain Securities Purchase Agreement dated as of the date hereof (as
amended and in effect from time to time, the "SPA") and (b) issued to the Secured Party that certain Convertible Promissory Note dated as of the date hereof (as amended
and in effect from time to time, the "Note"); and

      WHEREAS, it is a condition precedent to the Secured Party agreeing to make loans or otherwise extend credit to the Company under the SPA and
the Note that the Company execute and deliver to the Secured Party a security agreement in substantially the form hereof; and

      WHEREAS, the Company wishes to grant security interests in favor of the Secured Party as herein provided;

      NOW, THEREFORE, in consideration of the promises contained herein and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows:

      1.    Definitions.  All capitalized terms used herein without definitions shall have the respective
meanings provided therefor in the SPA.  All terms defined in the Uniform Commercial Code of the State (as hereinafter defined) and used herein shall have the same definitions
herein as specified therein, however, if a term is defined in Article 9 of the Uniform Commercial Code of the State differently than in another Article of the Uniform Commercial Code
of the State, the term has the meaning specified in Article 9, and the following terms shall have the following meanings:

      "Event of Default" means the occurrence of any "Event of Default" under and as defined in each of the SPA and the Note, or the failure of the
Company to comply with any term or covenant of any Transaction Document (including this Agreement) to which it is a party.

      "Indebtedness" has the meaning set forth in the Note.

      "Lien" means any mortgage, charge, pledge, hypothecation, security interest, assignment by way of
security, lien (statutory or otherwise), encumbrance, conditional sale agreement, capital lease, financing lease, deposit arrangement, title retention agreement, and any other
agreement, trust or arrangement that in substance secures payment or performance of an obligation.  

      "Obligations" means, collectively, (a) all debts, liabilities and obligations, present or future, direct or indirect, absolute or contingent, matured or
unmatured, at any time or from time to time due or accruing due and owing by or otherwise payable by the Company to the Secured Party in any currency, under, in connection with
or pursuant to the any Transaction Document (including, without limitation, this Agreement), and whether incurred by the

Company alone or jointly with another or others and
whether as principal, guarantor or surety and in whatever name or style and (b) all expenses, costs and charges actually incurred by or on behalf of the Secured Party in connection
with any Transaction Document (including this Agreement) or the Collateral, including all legal fees, court costs, receiver's or agent's remuneration and other expenses of taking
possession of, repairing, protecting, insuring, preparing for disposition, realizing, collecting, selling, transferring, delivering or obtaining payment for the Collateral, and of taking,
defending or participating in any action or proceeding in connection with any of the foregoing matters or otherwise in connection with the Secured Party's interest in any Collateral,
provided, except with respect to any enforcement proceedings or the taking by the Secured Party of any remedial actions with respect to the Transaction Documents, such
expenses, costs and charges shall be reasonable and documented.

      "Permitted Lien" means any of the following:  (a) mechanics and materialman Liens and other statutory Liens (including Liens for taxes, fees,
assessments and other governmental charges or levies) in respect of any amount (i) which is not at the time overdue or (ii) which may be overdue but the validity of which is being
contested at the time in good faith by appropriate proceedings and for which the Company has maintained adequate reserves, in each case so long as the holder of such Lien has
not taken any action to foreclose or otherwise exercise any remedies with respect to such Lien; (b) Liens in favor of the Secured Party; (c) Liens existing on the Closing Date and
listed on Schedule 1 hereto and any renewals or extensions thereof, provided that (i) the property covered thereby is not changed, (ii) the amount secured or benefited thereby is not
increased, (iii) the direct or any contingent obligor with respect thereto is not changed and (iv) any renewal or extension of the obligation secured or benefited thereby is permitted to
be incurred under the Transaction Documents; (d) Liens securing judgments for the payment of money not constituting an Event of Default; (e) Liens securing Indebtedness or other
liabilities in respect of capital leases, synthetic lease obligations and purchase money obligations for fixed or capital assets, provided that (i) the aggregate amount of all such
Indebtedness or other liabilities at any time outstanding does not exceed $2,000,000, (ii) such Liens do not at any time encumber any property other than the property financed by
such Indebtedness and (ii) the Indebtedness secured thereby does not exceed the cost or fair market value, whichever is lower, of the property being acquired on the date of
acquisition; (f) leases, licenses, subleases or sublicenses granted to others in the ordinary course of business that do no (i) interfere in any material respect with the ordinary conduct
of the business of the Company and it subsidiaries, or (ii) secure any Indebtedness; (g) Liens in favor of customs and revenue authorities arising as a matter of law to secure
payment of customs duties in connection with the importation of goods in the ordinary course of business; (h) Liens (i) of a collecting bank arising under Section 4-210 of the Uniform
Commercial Code on items in the course of collection, and (ii) in favor of a banking institution arising as a matter of law encumbering deposits (including the right of setoff) that are
customary in the banking industry; (i) easements, rights-of-way, restrictions and similar encumbrances affecting real property that, in the aggregate, are not substantial in amount,
and that do not in any case materially detract from the value of the property subject thereto or materially interfere with the ordinary conduct of the business of the applicable Person,
and any zoning or similar law or right reserved to or vested in any governmental authority to control or regulate the use of any real property that does not materially interfere with the
ordinary conduct of the business of the Company and its subsidiaries; (j) deposits to secure the performance of bids, trade contracts and leases (other

than Indebtedness), statutory
obligations, surety and appeal bonds, performance bonds or other obligations of a like nature incurred in the ordinary course of business consistent with past practices; (k) Liens on
cash or cash equivalents pledged to secure or otherwise support obligations of the Company or any of its subsidiaries (other than obligations with respect to borrowed money)
arising in the ordinary course of business; (l) Liens on insurance proceeds securing the payment of financed insurance premiums that are promptly paid on or before the date they
become due (provided that such Liens extend only to such insurance proceeds and not to any other property or assets) arising in the ordinary course of business; and (m) Liens
which are permitted in writing by the Secured Party in its sole and absolute discretion. 

      "State" means the State of New York.  

      2.    Grant of Security Interest.  

          2.1.   
Grant; Collateral Description.  The Company hereby grants to the Secured Party, to secure the payment and performance in full of all
of the Obligations, a security interest in and pledges and collaterally assigns to the Secured Party the following properties, assets and rights of the Company, wherever located,
whether now owned or hereafter acquired or arising, and all proceeds and products thereof (all of the same being hereinafter called the "Collateral"): all personal and fixture
property of every kind and nature including all goods (including inventory, equipment and any accessions thereto), instruments (including promissory notes), documents (whether
tangible or electronic), accounts (including health-care-insurance receivables), chattel paper (whether tangible or electronic), deposit accounts, letter-of-credit rights (whether or not
the letter of credit is evidenced by a writing), commercial tort claims, securities and all other investment property, supporting obligations, any other contract rights or rights to the
payment of money, insurance claims and proceeds, and all general intangibles (including all payment intangibles).  

          2.2.   
Commercial Tort Claims.  The Secured Party acknowledges that the attachment of its security interest in any commercial tort claim as
original collateral is subject to the Company's compliance with  §4.7.

          2.3.   
Excluded Collateral.  

              (a)  
The grant of the security interest contained in  §2.1 shall not extend to, and the term "Collateral" shall not include, (i) any directly held investment
property, or any general intangibles, now or hereafter held or owned by the Company, to the extent, in each case, that (1) a security interest may not be granted by the Company in
such directly held investment property or general intangibles as a matter of law, or under the terms of the governing document applicable thereto, without the consent of one or more
applicable parties thereto and (2) such consent has not been obtained; (ii) any intent-to-use trademark applications filed pursuant to Section 1(b) of the Lanham Act, 15 U.S.C.
§1051, to the extent that, and solely during the period in which, the grant of a security interest therein would otherwise invalidate the Company's right, title or interest therein; (iii) the
Excluded Accounts (as defined below); (iv) any asset with respect to which the costs of obtaining, perfecting or maintaining a security interest in that asset exceeds the

fair market value thereof or the benefit to the Secured Party afforded thereby (as determined by the Secured Party in consultation with the Company); and (v) any assets to the extent a security
interest in such assets would result in material adverse tax consequences as reasonably determined by the Secured Party.

              (b)  
The grant of the security interest contained in  §2.1 shall extend to, and the term "Collateral" shall include, (i) any and all proceeds of such directly held
investment property or general intangibles to the extent that the proceeds are not themselves directly held investment property or general intangibles subject to  §2.3(a) and (ii) upon
any such applicable party or parties' consent with respect to any otherwise excluded directly held investment property or general intangibles being obtained, thereafter such directly
held investment property or general intangibles.

              (c)  
The provisions of  §2.3(a)(i) shall not apply to (i) directly held investment property or general intangibles to the extent that the restriction on the
Company granting a security interest therein is not effective under applicable law or (ii) payment intangibles.

      3.    Authorization to File Financing Statements.  The Company hereby irrevocably authorizes the Secured Party at any time and from time
to time to file in any filing office in any Uniform Commercial Code jurisdiction any initial financing statements and amendments thereto that (a) indicate the Collateral (i) as all assets
of the Company or words of similar effect, regardless of whether any particular asset comprised in the Collateral falls within the scope of Article 9 of the Uniform Commercial Code of
the State or such jurisdiction, or (ii) as being of an equal or lesser scope or with greater detail, and (b) provide any other information required by part 5 of Article 9 of the Uniform
Commercial Code of the State or such other jurisdiction for the sufficiency or filing office acceptance of any financing statement or amendment, including whether the Company is an
organization, the type of organization and any organizational identification number issued to the Company.  The Company agrees to furnish any such information to the Secured
Party promptly upon the Secured Party's reasonable written request.  

      4.    Other Actions. Further to insure the attachment, perfection and first priority of, and the
ability of the Secured Party to enforce, the Secured Party's security interest in the Collateral, the Company agrees, in each case at the Company's own expense, to take the
following actions with respect to the following Collateral and without limitation on the Company's other obligations contained in this Agreement:

          4.1.   
 Promissory Notes and Tangible Chattel Paper.  If the Company shall, now or at any time hereafter, hold or acquire any
promissory notes or tangible chattel paper with an aggregate value for all such promissory notes and tangible chattel paper in excess of $50,000, the Company shall forthwith
endorse, assign and deliver the same to the Secured Party, accompanied by such instruments of transfer or assignment duly executed in blank as the Secured Party may from time to time specify.

          4.2.   
 Deposit Accounts.  For each deposit account that the Company, now or at any time hereafter, opens or maintains the Company shall,
at the Secured Party's written request and option, pursuant to an agreement in form and substance satisfactory

to the Secured Party, either (a) cause the depositary bank to agree to
comply without further consent of the Company, at any time with instructions from the Secured Party to such depositary bank directing the disposition of funds from time to time
credited to such deposit account, or (b) arrange for the Secured Party to become the customer of the depositary bank with respect to the deposit account, with the Company being
permitted, only with the consent of the Secured Party, to exercise rights to withdraw funds from such deposit account.  The Secured Party agrees with the Company that the Secured
Party shall not give any such instructions or withhold any withdrawal rights from the Company, unless an Event of Default has occurred and is continuing, or, if effect were given to
any withdrawal not otherwise permitted by the Transaction Documents, would occur.  The provisions of this paragraph shall not apply to any deposit accounts specially and
exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of the Company's salaried employees (collectively, the "Excluded
Accounts").

          4.3.   
 Investment Property.  If the Company shall, now or at any time hereafter, hold or acquire any certificated securities, the
Company shall forthwith endorse, assign and deliver the same to the Secured Party, accompanied by such instruments of transfer or assignment duly executed in blank as the
Secured Party may from time to time specify.  If any securities now or hereafter acquired by the Company are uncertificated and are issued to the Company or its nominee directly
by the issuer thereof, the Company shall promptly (but in any event within five (5) Business Days) notify the Secured Party thereof and, at the Secured Party's request and option,
pursuant to an agreement in form and substance satisfactory to the Secured Party, either (a) cause the issuer to agree to comply without further consent of the Company or such
nominee, at any time with instructions from the Secured Party as to such securities, or (b) arrange for the Secured Party to become the registered owner of the securities.  If any
securities, whether certificated or uncertificated, or other investment property now or hereafter acquired by the Company are held by the Company or its nominee through a
securities intermediary or commodity intermediary, the Company shall promptly (but in any event within five (5) Business Days) notify the Secured Party thereof and, at the Secured
Party's request and option, pursuant to an agreement in form and substance satisfactory to the Secured Party, either (i) cause such securities intermediary or (as the case may be)
commodity intermediary to agree to comply, in each case without further consent of the Company or such nominee, at any time with entitlement orders or other instructions from the
Secured Party to such securities intermediary as to such securities or other investment property, or (as the case may be) to apply any value distributed on account of any commodity
contract as directed by the Secured Party to such commodity intermediary, or (ii) in the case of financial assets or other investment property held through a securities intermediary,
arrange for the Secured Party to become the entitlement holder with respect to such investment property, with the Company being permitted, only with the consent of the Secured
Party, to exercise rights to withdraw or otherwise deal with such investment property.  The Secured Party agrees with the Company that the Secured Party shall not give any such
entitlement orders or instructions or directions to any such issuer, securities intermediary or commodity intermediary, and shall not withhold its consent to the exercise of any withdrawal or

dealing rights by the Company, unless an Event of Default has occurred and is continuing, or, after giving effect to any such investment and withdrawal rights not
otherwise permitted by the Transaction Documents, would occur.  The provisions of this paragraph shall not apply to any financial assets credited to a securities account for which
the Secured Party is the securities intermediary.

          4.4.   
 Collateral in the Possession of a Bailee.  If any goods constituting Collateral with an aggregate value in excess of $100,000 are
at any time in the possession of a bailee, the Company shall promptly notify the Secured Party thereof and, if requested by the Secured Party in writing, shall promptly obtain an
acknowledgement from the bailee, in form and substance satisfactory to the Secured Party, that the bailee holds such Collateral for the benefit of the Secured Party and shall act
upon the instructions of the Secured Party, without the further consent of the Company.

          4.5.   
 Electronic Chattel Paper, Electronic Documents and Transferable Records.  If the Company, now or at any time hereafter, holds or
acquires an interest in any Collateral that is electronic chattel paper, any electronic document or any "transferable record," as that term is defined in Section 201 of the federal
Electronic Signatures in Global and National Commerce Act, or in  §16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, the Company shall promptly
notify the Secured Party thereof and, at the request and option of the Secured Party, shall take such action as the Secured Party may reasonably request to vest in the Secured
Party control, under  §9-105 of the Uniform Commercial Code of the State or any other relevant jurisdiction, of such electronic chattel paper, control, under  §7-106 of the Uniform
Commercial Code of the State or any other relevant jurisdiction, of such electronic document or control, under Section 201 of the federal Electronic Signatures in Global and National
Commerce Act or, as the case may be,  §16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. The Secured Party agrees
with the Company that the Secured Party will arrange, pursuant to procedures satisfactory to the Secured Party and so long as such procedures will not result in the Secured Party's
loss of control, for the Company to make alterations to the electronic chattel paper, electronic document or transferable record permitted under UCC  §9-105, UCC  §7-106, or, as the
case may be, Section 201 of the federal Electronic Signatures in Global and National Commerce Act or  §16 of the Uniform Electronic Transactions Act for a party in control to make
without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by the Company with respect to such electronic
chattel paper, electronic document or transferable record.  The provisions of this  §4.5 relating to electronic documents and "control" under UCC  §7-106 apply in the
event that the 2003 revisions to Article 7, with amendments to Article 9, of the Uniform Commercial Code, in substantially the form approved by the American Law Institute and the
National Conference of Commissioners on Uniform State Laws, are now or hereafter adopted and become effective in the State or in any other relevant jurisdiction.

          4.6.   
 Letter-of-Credit Rights.  If the Company is now or at any time hereafter a beneficiary under a letter of credit with a drawing amount in
excess of $25,000, or if the Company is now or at any time hereafter a beneficiary under letters of credit not assigned to the Secured Party with an aggregate drawing amount in
excess of $50,000, the Company shall promptly notify the Secured Party thereof and, at the request and option of the Secured Party, the Company shall, pursuant to an agreement
in form and substance satisfactory to the Secured Party, either (a) arrange for the issuer and any confirmer of such letter of credit to consent to an assignment to the Secured Party
of the proceeds of the letter of credit or (b) arrange for the Secured Party to become the transferee beneficiary of the letter of credit.

          4.7.   
 Commercial Tort Claims.  If the Company shall at any time hold or acquire a commercial tort claim having a value in excess of
$50,000 individually or in the aggregate, the Company shall promptly (and in any event within five (5) Business Days) notify the Secured Party in a writing signed by the Company of
the particulars thereof and grant to the Secured Party in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to
be in form and substance satisfactory to the Secured Party.

          4.8.   
 Other Actions as to any and all Collateral.  The Company further agrees to take any and all other actions reasonably requested by the
Secured Party to ensure the  attachment, perfection and first priority of, and the ability of the Secured Party to enforce, the Secured Party's security interest in any and all of the
Collateral, including (a) executing, delivering and, where appropriate, filing financing statements and amendments relating thereto under the Uniform Commercial Code of any
relevant jurisdiction, to the extent, if any, that the Company's signature thereon is required therefor, (b) if requested by the Secured Party, causing the Secured Party's name to be
noted as secured party on any certificate of title for a titled good if such notation is a condition to attachment, perfection or priority of, or ability of the Secured Party to enforce, the
Secured Party's security interest in such Collateral, (c) complying with any provision of any statute, regulation or treaty of the United States as to any Collateral if compliance with
such provision is a condition to attachment, perfection or priority of, or ability of the Secured Party to enforce, the Secured Party's security interest in such Collateral, (d) obtaining
governmental and other third party waivers, consents and approvals, in form and substance satisfactory to the Secured Party, including any consent of any licensor, lessor or other
person obligated on Collateral, (e) obtaining waivers from mortgagees and landlords in form and substance satisfactory to the Secured Party and (f) taking all actions under any
earlier versions of the Uniform Commercial Code or under any other law, as reasonably determined by the Secured Party to be applicable in any relevant Uniform Commercial Code
or other jurisdiction, including any foreign jurisdiction.

          4.9.   
 Patent Assignments.  Concurrently herewith the Company is executing and delivering to the Secured Party the Patent Assignment
pursuant to which the Company is assigning to the Secured Party certain Collateral consisting of patents and patent rights, together with the goodwill appurtenant thereto. The
provisions of the Patent Assignment are supplemental to the provisions of this Agreement, and nothing contained in the Patent Assignment shall derogate from any of the rights or remedies of

the Secured Party hereunder. Nor shall anything contained in the Patent Assignment be deemed to prevent or extend the time of attachment or perfection of any
security interest in such Collateral created hereby.

      5.   
Representations and Warranties Concerning a Company's Legal Status.  The Company has, on
the date hereof, delivered to the Secured Party a certificate signed by the Company and entitled "Perfection Certificate" (the "Perfection Certificate").  The Company
represents and warrants to the Secured Party as follows:  as of the date hereof (a) the Company's exact legal name is that indicated on the Perfection Certificate and on the
signature page hereof, (b) the Company is an organization of the type, and is organized in the jurisdiction, set forth in the Perfection Certificate, (c) the Perfection Certificate
accurately sets forth the Company's organizational identification number or accurately states that the Company has none, (d) the Perfection Certificate accurately sets forth the
Company's place of business or, if more than one, its chief executive office, as well as the Company's mailing address, if different, (e) all other information set forth on the Perfection
Certificate pertaining to the Company is accurate and complete, and (f) there has been no change in any of such information since the date on which
the Perfection Certificate was signed and delivered to the Secured Party by the Company.

      6.   
Covenants Concerning Company's Legal Status.  The Company covenants with the Secured Party as follows: (a) without providing at
least ten (10) Business Days prior written notice  to the Secured Party, the Company will not change its name, its place of business or, if more than one, chief executive office, or its
mailing address or organizational identification number if it has one, (b) if the Company does not have an organizational identification number and later obtains one, the Company
will forthwith notify the Secured Party of such organizational identification number, and (c) the Company will not change its type of organization, jurisdiction of organization or other
legal structure.

      7.   
Representations and Warranties Concerning Collateral, Etc. The Company further represents and warrants to the
Secured Party as follows: (a) the Company is the owner of or has other rights in or power to transfer the Collateral, free from any right or claim of any person or any adverse lien,
except for the security interest created by this Agreement and the Permitted Liens, (b) none of the account debtors or other persons obligated on any of the Collateral is a
governmental authority covered by the Federal Assignment of Claims Act or like federal, state or local statute or rule in respect of such Collateral, (c) the Company holds no
commercial tort claim except as indicated on the Company's Perfection Certificate, (d) all other information set forth on the Company's Perfection Certificate pertaining to the
Collateral is accurate and complete, (e) the Company has at all times operated its business in compliance with all applicable provisions of the federal Fair Labor Standards Act, as
amended, and with all applicable provisions of federal, state and local statutes and ordinances dealing with the control, shipment, storage or disposal of hazardous materials or
substances and (f) there has been no change in any of such information since the date on which the Company's Perfection Certificate was signed and delivered to the Secured Party
by the Company.

      8.   
Covenants Concerning Collateral, Etc.  The Company further covenants with the Secured Party as follows: (a) other than inventory
sold in the ordinary course of business consistent with past practices, the Collateral, to the extent not delivered to the Secured Party pursuant to  §4, will be kept at those locations
listed on the Perfection Certificate and the Company will not remove the Collateral from such locations (other than Collateral in transit for repair or between such locations or removal
in connection with the sale, transfer or disposition of Collateral as permitted under the Transaction Documents), without providing at least ten (10) Business Days prior written notice
to the Secured Party, (b) except for the security interest herein granted, the Company shall be the owner of or have other rights in the Collateral free from any right or claim of any
other person or any Lien (other than Permitted Liens), and the Company shall defend the same against all claims and demands of all persons at any time claiming the same or any
interests therein adverse to the Secured Party, (c) other than in favor of the Secured Party, the Company shall not pledge, mortgage or create, or suffer to exist any right of any
person in or claim by any person to the Collateral, or any Lien in the Collateral in favor of any person, or become bound (as provided in Section 9-203(d) of the Uniform Commercial
Code of the State or any other relevant jurisdiction or otherwise) by a security agreement in favor of any person as secured party, (d) the Company will permit the Secured Party, or
its designee, to inspect the Collateral at any reasonable time, wherever located, and, so long as no Event of Default has occurred and is continuing, upon reasonable prior written
notice and during normal business hours; (e) the Company will pay promptly when due all taxes, assessments, governmental charges and levies upon the Collateral or incurred in
connection with the use or operation of the Collateral or incurred in connection with this Agreement, and (f) the Company will not sell or otherwise dispose, or offer to sell or
otherwise dispose, of the Collateral, or any interest therein except for, so long as no Event of Default has occurred and is continuing, dispositions of obsolete or worn-out property,
the granting of non-exclusive licenses in the ordinary course of business, and the sale of inventory in the ordinary course of business consistent with past practices.

      9.   
Collateral Protection Expenses; Preservation of Collateral.  

          9.1.   
 Expenses Incurred by Secured Party. In the Secured Party's discretion, the Secured
Party may discharge taxes and other encumbrances at any time levied or placed on any of the Collateral, and pay any necessary filing fees or insurance premiums, in each case if
the Company fails to do so.  The Company agrees to reimburse the Secured Party on written demand for all expenditures so made.  The Secured Party shall have no obligation to
the Company to make any such expenditures, nor shall the making thereof be construed as a waiver or cure of any default or Event of Default.

          9.2.   
 Secured Party's Obligations and Duties. Anything herein to the contrary notwithstanding,
the Company shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Company thereunder.  The
Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any
payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of the Company under or pursuant to any such
contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any
performance by any party under any such

contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts
which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times.  The Secured Party's sole duty with respect to the custody,
safe keeping and physical preservation of the Collateral in its possession, under  §9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such
Collateral in the same manner as the Secured Party deals with similar property for its own account, but with no duty to preserve rights against prior parties.

      10.   
Securities and Deposits. The Secured Party may at any time following and during the
continuance of a payment default or an Event of Default, at its option, transfer to itself or any nominee any securities constituting Collateral, receive any income thereon and
hold such income as additional Collateral or apply it to the Obligations.  Whether or not any Obligations are due, the Secured Party may, following and during the continuance of a
payment default or an Event of Default demand, sue for, collect, or make any settlement or compromise which it deems desirable with respect to the Collateral.  Regardless of the
adequacy of Collateral or any other security for the Obligations, any deposits or other sums at any time credited by or due from the Secured Party to the Company may at any time
be applied to or set off against any of the Obligations then due and owing.

      11.   
Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of
Default shall have occurred and be continuing:

(a)     the Company shall, at the request and option of the Secured Party, notify account debtors and other persons obligated on any of the Collateral of the
security interest of the Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Secured
Party or to any financial institution designated by the Secured Party as the Secured Party's agent therefor;

(b)      the Secured Party may itself, without notice to or demand upon the Company, so notify account debtors and other persons obligated on
Collateral;

(c)      after the making of such a request or the giving of any such notification, the Company shall hold any proceeds of collection of accounts, chattel
paper, general intangibles, instruments and other Collateral received by the Company as trustee for the Secured Party, for the benefit of the Secured Party, without commingling the
same with other funds of the Company and shall turn the same over to the Secured Party in the identical form received, together with any necessary endorsements or assignments;
and

(d)     the Secured Party shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral and received
by the Secured Party to the payment of the Obligations, such proceeds to be promptly credited after final payment in cash or other immediately available funds of the items giving
rise to them.

      12.   
 Power of Attorney.  

          12.1.   
Appointment and Powers of Secured Party. The Company hereby irrevocably constitutes
and appoints the Secured Party and any officer or agent thereof, with full power of substitution, as its true and lawful attorneys-in-fact with full irrevocable power and authority in the
place and stead of the Company or in the Secured Party's own name, for the purpose of carrying out the terms of this Agreement, to take any and all appropriate action and to
execute any and all documents and instruments that may be necessary or useful to accomplish the purposes of this Agreement and, without limiting the generality of the foregoing,
hereby gives said attorneys the power and right, on behalf of the Company, without notice to or assent by the Company, to do the following:

              (a)   
upon the occurrence and during the continuance of an Event of Default, generally to sell, transfer, pledge, make any agreement with respect to or
otherwise dispose of or deal with any of the Collateral in such manner as is consistent with the Uniform Commercial Code of the State or any other relevant jurisdiction and as fully
and completely as though the Secured Party were the absolute owner thereof for all purposes, and to do, at the Company's expense, at any time, or from time to time, all acts and
things which the Secured Party deems necessary or useful to protect, preserve or realize upon the Collateral and the Secured Party's security interest therein, in order to effect the
intent of this Agreement, all no less fully and effectively as the Company might do, including (i) upon written notice to the Company, the exercise of voting rights with respect to
voting securities, which rights may be exercised, if the Secured Party so elects, with a view to causing the liquidation of assets of the issuer of any such securities and (ii) the
execution, delivery and recording, in connection with any sale or other disposition of any Collateral, of the endorsements, assignments or other instruments of conveyance or transfer
with respect to such Collateral; and

              (b)   
to the extent that the Company's authorization given in  §3 is not sufficient, to file such financing statements with respect hereto, with or without the
Company's signature, or a photocopy of this Agreement in substitution for a financing statement, as the Secured Party may deem appropriate and to execute in the Company's
name such financing statements and amendments thereto and continuation statements which may require the Company's signature.

          12.2.   
Ratification by Company. To the extent permitted by law, the Company hereby ratifies all
that said attorneys shall lawfully do or cause to be done by virtue hereof.  This power of attorney is a power coupled with an interest and is irrevocable.

          12.3.   
No Duty on Secured Party. The powers conferred on the Secured Party hereunder are
solely to protect the interests of the Secured Party in the Collateral and shall not impose any duty upon the Secured Party to exercise any such powers. The Secured Party shall be
accountable only for the amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees or agents shall be
responsible to the Company for any act or failure to act, except for the Secured Party's own gross negligence, bad faith or willful misconduct.

      13.   
Rights and Remedies.   If an Event of Default shall have occurred and be continuing, the
Secured Party, without any other notice to or demand upon the Company, shall have in any jurisdiction in which enforcement hereof is sought, in addition to all other rights and
remedies, the rights and remedies of a secured party under the Uniform Commercial Code of the State or any other relevant jurisdiction and any additional rights and remedies as
may be provided to a secured party in any jurisdiction in which Collateral is located, including the right to take possession of the Collateral, and for that purpose the Secured Party
may, so far as the Company can give authority therefor, enter upon any premises on which the Collateral may be situated and remove the same therefrom.  The Secured Party may
in its discretion require the Company to assemble all or any part of the Collateral at such location or locations within the jurisdiction(s) of the Company's principal office(s) or at such
other locations as the Secured Party may reasonably designate.  Unless the Collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a
recognized market, the Secured Party shall give to the Company at least ten (10) Business Days prior written notice of the time and place of any public sale of Collateral or of the
time after which any private sale or any other intended disposition is to be made.  The Company hereby acknowledges that ten (10) Business Days prior written notice of such sale
or sales shall be reasonable notice.  In addition, the Company waives any and all rights that it may have to a judicial hearing in advance of the enforcement of any of the Secured
Party's rights and remedies hereunder, including its right following an Event of Default to take immediate possession of the Collateral and to exercise its rights and remedies with
respect thereto.

      14.   
Standards for Exercising Rights and Remedies. To the extent that applicable law imposes duties on the Secured Party
to exercise remedies in a commercially reasonable manner, the Company acknowledges and agrees that it is not commercially unreasonable for the Secured Party (a) to fail to incur
expenses reasonably deemed significant by the Secured Party to prepare Collateral for disposition or otherwise to fail to complete raw material or work in process into finished
goods or other finished products for disposition, (b) to fail to obtain third party consents for access to Collateral to be disposed of, or to obtain or, if not required by other law, to fail to
obtain governmental or third party consents for the collection or disposition of Collateral to be collected or disposed of, (c) to fail to exercise collection remedies against account
debtors or other persons obligated on Collateral or to fail to remove Liens on or any adverse claims against Collateral, (d) to exercise collection remedies against account debtors
and other persons obligated on the Collateral directly or through the use of collection agencies and other collection specialists, (e) to advertise dispositions of the Collateral through
publications or media of general circulation, whether or not the Collateral is of a specialized nature, (f) to contact other persons, whether or not in the same business as the
Company, for expressions of interest in acquiring all or any portion of the Collateral, (g) to hire one or more professional auctioneers to assist in the disposition of the Collateral,
whether or not the collateral is of a specialized nature, (h) to dispose of the Collateral by utilizing Internet sites that provide for the auction of assets of the types included in the
Collateral or that have the reasonable capability of doing so, or that match buyers and sellers of assets, (i) to dispose of assets in wholesale rather than retail markets, (j) to disclaim
disposition warranties, (k) to purchase insurance or credit enhancements to insure the Secured Party against risks of loss, collection or disposition of the Collateral or to provide to
the Secured Party a guaranteed return from the collection or disposition of such Collateral, or (l) to the extent deemed appropriate by

the Secured Party, to obtain the services of
brokers, investment bankers, consultants and other professionals to assist the Secured Party in the collection or disposition of any of the Collateral.  The Company acknowledges
that the purpose of this §14 is to provide non-exhaustive indications of what actions or omissions by the Secured Party would fulfill the Secured Party's duties under the Uniform
Commercial Code of the State or any other relevant jurisdiction in the Secured Party's exercise of remedies against the Collateral and that other actions or omissions by the Secured
Party shall not be deemed to fail to fulfill such duties solely on account of not being indicated in this §14.  Without limitation upon the foregoing, nothing contained in this §14 shall be
construed to grant any rights to the Company or to impose any duties on the Secured Party that would not have been granted or imposed by this Agreement or by applicable law in
the absence of this §14.  

      15.   
No Waiver by Secured Party, etc.  The Secured Party shall not be deemed to have waived any of its rights and remedies in respect of
the Obligations or the Collateral unless such waiver shall be in writing and signed by the Secured Party.  No delay or omission on the part of the Secured Party in exercising any
right or remedy shall operate as a waiver of such right or remedy or any other right or remedy.  A waiver on any one occasion shall not be construed as a bar to or waiver of any right
or remedy on any future occasion.  All rights and remedies of the Secured Party with respect to the Obligations or the Collateral, whether evidenced hereby or by any other
instrument or papers, shall be cumulative and may be exercised singularly, alternatively, successively or concurrently at such time or at such times as the Secured Party deems
expedient.

      16.   
Suretyship Waivers by Company. The Company waives demand, notice, protest, notice
of acceptance of this Agreement, notice of loans made, credit extended, Collateral received or delivered or other action taken in reliance hereon and all other demands and notices
of any description.  With respect to both the Obligations and the Collateral, the Company assents to any extension or postponement of the time of payment or any other indulgence,
to any substitution, exchange or release of or failure to perfect any security interest in any such Collateral, to the addition or release of any party or person primarily or secondarily
liable, to the acceptance of partial payment thereon and the settlement, compromising or adjusting of any thereof, all in such manner and at such time or times as the Secured Party
may deem advisable.  The Secured Party shall have no duty as to the collection or protection of the Collateral or any income therefrom, the preservation of rights against prior
parties, or the preservation of any rights pertaining thereto beyond the safe custody thereof as set forth in  §9.2.  The Company further waives any and all other suretyship
defenses.

      17.   
Marshaling. The Secured Party shall not be required to marshal any present or future
collateral security (including but not limited to the Collateral) for, or other assurances of payment of, the Obligations or any of them or to resort to such collateral security or other
assurances of payment in any particular order, and all of the rights and remedies of the Secured Party hereunder and of the Secured Party in respect of such collateral security and
other assurances of payment shall be cumulative and in addition to all other rights and remedies, however existing or arising.  To the extent that it lawfully may, the Company hereby
agrees that it will not invoke any law relating to the marshaling of collateral which might cause delay in or impede the enforcement of the Secured Party's rights and remedies under
this Agreement or under any other instrument creating or evidencing any of the Obligations or under which any of the Obligations is outstanding or by which any of the Obligations is
secured or payment thereof is otherwise assured, and, to the extent that it lawfully may, the Company hereby irrevocably waives the benefits of all such laws.

      18.   
Proceeds of Dispositions; Expenses. The Company shall pay to the Secured Party on
written demand any and all reasonable and documented expenses, including attorneys' fees and disbursements, actually incurred or paid by the Secured Party in protecting or
preserving the Secured Party's rights and remedies under or in respect of any of the Obligations or any of the Collateral and any such expenses incurred in releasing any security
interest granted hereunder and, in addition, the Company shall pay to the Secured Party on written demand any and all expenses, including attorneys' fees and disbursements,
actually incurred or paid by the Secured Party in enforcing the Secured Party's rights and remedies under or in respect of any of the Obligations or any of the Collateral.  After
deducting all of said expenses, the residue of any proceeds of collection or sale or other disposition of Collateral shall, to the extent actually received in cash, be applied to the
payment of the Obligations in such order or preference as is provided in the SPA, proper allowance and provision being made for any Obligations not then due.  Upon the final
payment and satisfaction in full of all of the Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the
State, any excess shall be returned to the Company.  In the absence of final payment and satisfaction in full of all of the Obligations, the Company shall remain liable for any
deficiency.

      19.   
Overdue Amounts. Until paid, all amounts due and payable by the Company hereunder
shall be a debt secured by the Collateral and shall bear, whether before or after judgment, interest at the rate of interest for overdue principal set forth in the Transaction
Documents.

      20.    Governing Law; Consent to Jurisdiction.
THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO PRINCIPLES OF CONFLICT OF LAWS OR CHOICE OF LAWS. ANY ACTION, PROCEEDING OR
CLAIM ARISING OUT OF, OR RELATING IN ANY WAY TO THIS AGREEMENT SHALL BE BROUGHT AND ENFORCED IN THE NEW YORK SUPREME
COURT, COUNTY OF NEW YORK, OR IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK.  THE COMPANY AND THE SECURED PARTY IRREVOCABLY SUBMIT TO THE
JURISDICTION OF SUCH COURTS, WHICH JURISDICTION SHALL BE EXCLUSIVE, AND HEREBY WAIVE ANY OBJECTION TO SUCH EXCLUSIVE JURISDICTION OR THAT SUCH COURTS REPRESENT AN INCONVENIENT FORUM.
THE PREVAILING PARTY IN ANY SUCH ACTION SHALL BE ENTITLED TO RECOVER ITS REASONABLE AND DOCUMENTED ATTORNEYS' FEES AND OUT-OF-POCKET EXPENSES RELATING TO SUCH ACTION OR PROCEEDING.

      21.   
Waiver of Jury Trial. THE COMPANY AND THE SECURED PARTY
HEREBY IRREVOCABLY WAIVE, 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 OTHER TRANSACTION DOCUMENTS.  Except as
prohibited by law, the Company waives any right which it may have to claim or recover in any litigation referred to in the preceding sentence any special, exemplary, punitive or
consequential damages or any damages other than, or in addition to, actual damages.  The Company (a) certifies that neither the Secured Party nor any representative, agent or
attorney of the Secured Party has represented, expressly or otherwise, that the Secured Party would not, in the event of litigation, seek to enforce the foregoing waivers or other
waivers contained in this Agreement and (b) acknowledges that, in entering into this Agreement and any other Transaction Document to which the Secured Party is a party, the
Secured Party is relying upon, among other things, the waivers and certifications contained in this §21.

      22.   
Notices. All notices, requests and other communications hereunder shall be made in the manner set forth in the
SPA.

      23.   
Miscellaneous. The headings of each section of this Agreement are for convenience only and shall not define or limit the
provisions thereof.  This Agreement and all rights and obligations hereunder shall be binding upon the Company and its successors and assigns, and shall inure to the benefit of the
Secured Party and its successors and assigns.  If any term of this Agreement shall be held to be invalid, illegal or unenforceable, the validity of all other terms hereof shall in no way
be affected thereby, and this Agreement shall be construed and be enforceable as if such invalid, illegal or unenforceable term had not been included herein.  Each of the Secured
Party and the Company acknowledges receipt of a copy of this Agreement.

 

[Signature pages to follow]
 

      IN WITNESS WHEREOF, intending to be legally bound, the Company has caused this Agreement to be duly executed as of the date first above
written.

SEELOS THERAPEUTICS, INC. 

 

 

By: /s/ Raj Mehra, Ph.D.      

        Name:  Raj Mehra, Ph.D.

           Title:    President and Chief Executive Officer

 

Accepted:

LIND GLOBAL ASSET MANAGEMENT II, LLC

 By: /s/ Jeff Easton

           Name:  Jeff Easton

           Title:      Authorized Signatory

   

   

   

   

CERTIFICATE OF ACKNOWLEDGMENT

COMMONWEALTH OR STATE OF  __________________________________________)   

                                         
                                         
                                         
                        )  ss.

  COUNTY OF ______________________________________________________________)

 

      Before me, the undersigned, a Notary Public in and for the county aforesaid, on this __ day of December, 2020, personally appeared __________________
to me known personally, and who, being by me duly sworn, deposes and says that he/she is the _____________ of Seelos Therapeutics, Inc. and that said instrument was signed
and sealed on behalf of said corporation by authority of its Board of Directors, and said ______________ acknowledged said instrument to be the free act and deed of said corporation.

 

______________________________

(official signature and seal of notary)

 

My commission expires:EX-4.1

 Exhibit 4.1 

EXECUTION VERSION 

TIFFANY & CO., 

as the Company, 
 and

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

as the Trustee 
  

 
 SUPPLEMENTAL
INDENTURE NO. 3 
 Dated as of December 17, 2020 

to 
 Indenture Dated as
of September 25, 2014 
 relating to the 

$250,000,000 3.800% Senior Notes due 2024 

and the 
 $300,000,000
4.900% Senior Notes due 2044 

 SUPPLEMENTAL INDENTURE NO. 3 

SUPPLEMENTAL INDENTURE NO. 3, dated as of December 17, 2020 (the “Supplemental Indenture”), among
Tiffany & Co. (the “Company”), a Delaware corporation and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”), to the Indenture (as defined below). 

RECITALS: 

WHEREAS, the Company has executed and delivered to the Trustee an Indenture, dated as of September 25, 2014 (the “Base
Indenture”), providing for the issuance from time to time of its senior debt securities, to be issued in one or more series as therein provided (the “Securities”); 

WHEREAS, the Base Indenture was supplemented by (i) Supplemental Indenture No. 1 dated as of September 25, 2014 (
“Supplemental Indenture No. 1”) relating to the issuance of a series of Securities designated as the “3.800% Senior Notes due 2024” in aggregate principal amount of $250,000,000 (the “2024
Notes”) and (ii) Supplemental Indenture No. 2 dated as of September 25, 2014 (“Supplemental Indenture No. 2”) relating to the issuance of a series of Securities designated as the
“4.900% Senior Notes due 2044” in aggregate principal amount of $300,000,000 (the “2044 Notes” and, together with the 2024 Notes, the “Affected Notes”) (the Base Indenture, as supplemented by Supplemental
Indenture No. 1 and Supplemental Indenture No. 2, being referred to collectively as the “Indenture”); 

WHEREAS, with respect to the amendments set forth in Article II hereof, pursuant to Section 9.2 of the Base Indenture, the Company
may amend the Indenture or the Securities of a Series with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Securities of such Series voting as a single class; 

WHEREAS, upon the terms and subject to the conditions set forth in its consent solicitation statement, dated December 8, 2020, the
Company has obtained with respect to each Series of Affected Notes such Consents from the Holders of at least a majority in aggregate principal amount of the outstanding Affected Notes of each Series, and accordingly this Supplemental Indenture, the
amendments set forth herein and the Trustee’s execution of this Supplemental Indenture are authorized pursuant to Sections 9.2 and 9.4 of the Base Indenture; 

WHEREAS, all things necessary to make this Supplemental Indenture a valid and legally binding agreement of the Company and the Trustee,
enforceable in accordance with its terms, and a valid amendment of, and supplement to, the Indenture have been done; 
 WITNESSETH:

 NOW, THEREFORE, for and in consideration of the premises herein, each party agrees for the benefit of each other party and for
the equal and ratable benefit of the Holders of the Affected Notes, as follows: 

 ARTICLE ONE 

DEFINITIONS 
 SECTION 1.1.
Generally. 
 (a) Capitalized terms used herein and not otherwise defined herein shall have the respective meanings ascribed thereto in the
Indenture. 
 (b) The rules of interpretation set forth in the Indenture shall be applied hereto as if set forth in full herein. 

ARTICLE TWO 
 AMENDMENTS

 SECTION 2.1. Amendments to the Indenture. 

Pursuant to Section 9.2 of the Base Indenture, each of the Company and the Trustee (pursuant to the consent of the Holders of at least a
majority in aggregate principal amount of the then outstanding Affected Notes of each Series voting as one class pursuant to Section 9.2 of the Base Indenture) hereby agrees to amend the Indenture as follows: 

(a) The definition of “GAAP” set forth in Section 1.1. (Definitions) of the Base Indenture is hereby deleted in its entirely
and replaced with the following: 
 ““GAAP” means (i) accounting principles generally accepted in
the United States of America set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or
in such other statements by such other entity as have been approved by a significant segment of the accounting profession, which are in effect from time to time, or (ii) for as long as the LVMH Guarantee (as defined in Section 11.1 hereof)
is in effect, International Financial Reporting Standards as published by the IASB (International Accounting Standards Board) and as adopted by the European Union.” 

(b) A new Section 4.6 of the Base Indenture is hereby added as follows: 

“SECTION 4.6. Guarantor Reports. 

Anything in this Indenture to the contrary notwithstanding, if LVMH (as defined in Section 11.1 hereof) has executed a counterpart of this
Indenture or an indenture supplemental hereto in order to provide the LVMH Guarantee (as defined in Section 11.1 hereof), then, effective from and after the time of such execution, and for as long as the LVMH Guarantee is in effect,
Section 4.5 (Reports) of the Indenture shall not apply and the Company shall not be required to comply with Section 4.5 (Reports) of the Indenture; however, LVMH shall post on its website English language translations of all annual
reports, semi-annual reports and other reports and financial and business information that constitute regulated information (information réglementée) that it is required to publish under EU regulations, the rules of the French
Financial Markets Authority (Autorité des marchés financiers) or the French Commercial Code (Code de commerce) pursuant to the public reporting obligations of companies whose securities are listed on the regulated market
of the Euronext Paris stock exchange, and such translations shall be so posted (i) within the time periods specified by such rules for the publication of such annual reports, semi-annual reports and other reports and information and
(ii) simultaneously with or promptly after such annual reports, semi-annual reports or other reports or financial and business information are so published.” 

  
 - 2 - 

 (c) Paragraph (d) of Section 6.1 (Events of Default) of the Base Indenture is
hereby deleted in its entirety and replaced with the following: 
 “(d) failure to comply with (or obtain a waiver with respect to) any
of the Company’s covenants or agreements or LVMH’s covenants or agreements, in each case in the Securities of such Series or this Indenture (other than an agreement or covenant that has been expressly included in this Indenture solely for
the benefit of another Series of Securities) for 90 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company by the Holders of at least 25% in principal amount of all outstanding Securities
affected by that failure a written notice specifying such failure and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder;” 

(d) A new Article XI of the Base Indenture is hereby added as follows: 

“ARTICLE XI 

GUARANTEES OF SECURITIES 

Section 11.1. LVMH Guarantee 

(a) Subject to this Section 11.1, upon the execution by LVMH Moët Hennessy-Louis Vuitton SE (“LVMH”)
of a counterpart of this Indenture or an indenture supplemental hereto in order to provide a guarantee in accordance with the terms hereof (the “LVMH Guarantee”), LVMH hereby unconditionally guarantees, on a senior unsecured basis,
to each Holder of a Security authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this Indenture, the Securities held thereby and the obligations of the
Company hereunder and thereunder, that: (i) the principal of, premium, if any, and interest on the Securities shall be promptly paid in full when due, subject to any applicable grace period, whether at the Stated Maturity, by acceleration, upon
repurchase or redemption or otherwise, and interest on the overdue principal of and premium, if any, and (to the extent permitted by law) interest on the Securities, and all other payment obligations of the Company to the Holders or the Trustee
hereunder or thereunder shall be promptly paid in full and performed, all in accordance with the terms hereof and thereof; and (ii) in case of any extension of time of payment or renewal of any Securities or any of such other obligations, the
same shall be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, subject to any applicable grace period, whether at the Stated Maturity, by acceleration, upon repurchase or redemption or otherwise.
Failing payment when so due by the Company, subject to any applicable grace period, of any amount so guaranteed for whatever reason, LVMH will be obligated to pay the same immediately. 

LVMH hereby agrees that its obligations hereunder shall be unconditional, irrespective of the validity, regularity or
enforceability of the Securities or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder with respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any action to
enforce the same or any other circumstance (other than complete performance) which might otherwise constitute a legal or equitable discharge or defense of LVMH. LVMH further, to the extent permitted by law, hereby waives diligence, presentment,
demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever and covenants that this LVMH Guarantee
will not be discharged except by complete performance of the obligations contained in the Securities and this Indenture. 

  
 - 3 - 

 If any Holder or the Trustee is required by any court or otherwise to return
to the Company, LVMH, or any Custodian, Trustee or other similar official acting in relation to either of the Company or LVMH, any amount paid by the Company or LVMH to the Trustee or such Holder, the LVMH Guarantee, to the extent theretofore
discharged, shall be reinstated in full force and effect. 
 LVMH further agrees that, as between LVMH, on the one hand, and
the Holders and the Trustee, on the other hand, (i) the maturity of the obligations guaranteed hereby may be accelerated as provided in Section 6.2 hereof for the purposes of this LVMH Guarantee, notwithstanding any stay, injunction or
other prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (ii) in the event of any declaration of acceleration of such obligations as provided in Section 6.2 hereof, such obligations shall
forthwith become due and payable by LVMH for the purpose of this LVMH Guarantee. 
 LVMH shall be subrogated to all rights of
the Holders of the Securities against the Company in respect of any amount paid by LVMH on account of such Securities pursuant to the provisions of this LVMH Guarantee or this Indenture; provided, however, that LVMH shall not be entitled to
enforce or to receive any payments arising out of, or based upon, such right of subrogation until the principal of, and any premium and interest on, all Securities issued hereunder shall have been paid in full. 

(b) To evidence the LVMH Guarantee set forth in this Section 11.1, LVMH hereby agrees that a notation of such LVMH
Guarantee substantially in the form set forth in paragraph (d) of this Section 11.1 will be endorsed by manual or facsimile signature by an authorized signatory of LVMH on each Security authenticated and delivered by the Trustee. 

Subject to paragraph (c) below, LVMH hereby agrees that the LVMH Guarantee set forth in this Section 11.1 will remain
in full force and effect notwithstanding any failure to endorse on each Security a notation of such LVMH Guarantee. If an authorized signatory whose signature is on the notation of the LVMH Guarantee no longer holds that office at the time the
Trustee authenticates the Security on which a notation of the LVMH Guarantee is endorsed, the LVMH Guarantee will be valid nevertheless. 

The delivery of any Security by the Trustee, after the authentication thereof hereunder, will constitute due delivery of the
LVMH Guarantee set forth in this Indenture on behalf of LVMH. 
 (c) This Section 11.1, and the LVMH Guarantee, shall
become effective upon the execution of a counterpart of this Indenture or an indenture supplemental hereto by LVMH in order to provide such LVMH Guarantee and, subject to the Company remaining a Subsidiary of LVMH until such date, will remain in
full force and effect until repayment in full of all amounts (in principal, premium, if any, and interest) due to the Holders of the Securities in accordance with the terms and conditions of this Indenture. The Guarantee will automatically terminate
and be released on the date on which all amounts will have been paid in full to the Holders of the Securities in accordance with the terms of this Indenture or the date on which the Company ceases to be a Subsidiary of LVMH, whichever is earlier.

 The Trustee will execute any documents reasonably requested of it in order to evidence or effect the release, discharge
and termination in respect of such LVMH Guarantee as provided for above. Neither the Company nor LVMH will be required to make a notation on the Securities to reflect any such release, termination or discharge. 

(d) Form of notation of LVMH Guarantee: 

“Subject to the limitations set forth in the Indenture referred to in the Security upon which this notation is endorsed,
LVMH has unconditionally guaranteed: (a) the due and punctual payment of the principal of, premium, if any, and interest on the Securities, whether 

  
 - 4 - 

 
at the Stated Maturity, by acceleration, upon repurchase or redemption or otherwise, (b) the due and punctual payment of interest on the overdue principal of, premium, if any, and interest
if lawful, on the Securities, (c) the due and punctual payment or performance of all other payment obligations of the Company to the Holders or the Trustee, all in accordance with the terms set forth in the Indenture, and (d) in case of
any extension of time of payment or renewal of any Securities or any of such other obligations, the prompt payment in full thereof when due or performance thereof in accordance with the terms of the extension or renewal, whether at the Stated
Maturity, by acceleration, upon repurchase or redemption or otherwise. This LVMH Guarantee is subject to the limitations set forth in the Indenture, including Section 11.1 thereof. 

 

			
	LVMH Moët Hennessy-Louis Vuitton SE
		
	By:	 	
	Name:	 	
	Title:”	 	

  
 - 5 - 

 ARTICLE THREE 

MISCELLANEOUS 
 SECTION
3.1. Application of Supplemental Indenture. 
 This Supplemental Indenture shall be deemed part of the Indenture in the manner and to the
extent herein and therein provided. 
 SECTION 3.2. Trust Indenture Act Controls. 

If any provision hereof limits, qualifies or conflicts with the duties imposed by Sections 310 through 317 of the Trust Indenture Act, the
imposed duties shall control. 
 SECTION 3.3. Conflict with Indenture. 

To the extent not expressly amended or modified by this Supplemental Indenture, the Indenture shall remain in full force and effect. If any
provision of this Supplemental Indenture is inconsistent with any provision of the Indenture, the provision of this Supplemental Indenture shall control. 

SECTION 3.4. Notices. 
 Any
request, direction, instruction, demand, document, notice or communication by a party to the other parties will be made in the manner and be effective as set forth in Section 10.1 of the Base Indenture. 

SECTION 3.5. Governing Law. 

THIS SUPPLEMENTAL INDENTURE, INCLUDING ANY CLAIM OR CONTROVERSY ARISING OUT OF OR RELATING TO THIS SUPPLEMENTAL INDENTURE, SHALL BE GOVERNED
BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK. 

SECTION 3.6. Successors. 
 All
agreements of the Company in the Indenture and this Supplemental Indenture shall bind its successors. All agreements of the Trustee in the Indenture and this Supplemental Indenture shall bind its successors. 

SECTION 3.7. Waiver of Jury Trial. 

EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL
BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED HEREBY. 
 SECTION
3.8. Counterparts. 
 This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an
original, but all such counterparts shall together constitute but one and the same instrument. 
 SECTION 3.9. Trustee Disclaimer. 

  
 - 6 - 

 The Trustee makes no representation as to the validity or sufficiency of this Supplemental
Indenture. The recitals and statements herein are deemed to be those of the Company and not the Trustee. 
 [Signature Pages Follow]

  
 - 7 - 

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

			
	TIFFANY & CO., as Company
		
	By:	 	/s/ Mark J. Erceg
	Name: Mark J. Erceg
	Title: EVP, CFO

 [Company Signature Page to Supplemental Indenture No. 3] 

 
			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., not in its individual capacity but solely as Trustee
		
	By:	 	/s/ Lawrence M. Kusch
	Name: Lawrence M. Kusch
	Title: Vice President

 [Trustee Signature Page to Supplemental Indenture No. 3]

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