Document:

Exhibit 4.3

 

SUPPLEMENTAL INDENTURE

 

Supplemental
Indenture (this “Supplemental Indenture”)
dated as of July 9, 2020, among Rite Aid Corporation, a Delaware corporation (the “Company”), on behalf of itself
and the Subsidiary Guarantors (the “Subsidiary Guarantors”) under the indenture referred to below, and The Bank
of New York Mellon Trust Company, N. A., a banking association organized under the laws of the United States of America, as trustee
under the indenture referred to below (the “Trustee”).

 

W I T N E S S E T H

 

WHEREAS
the Company and the Subsidiary Guarantors have heretofore executed and delivered to the Trustee an Indenture dated as of April 2,
2015, as supplemented by a supplemental indenture dated as of August 23, 2018 and a supplemental indenture dated as of February
8, 2019 (as so supplemented, the “Indenture”), providing for the issuance of 6.125% Senior Notes due 2023 (the
“Securities”);

 

WHEREAS,
the Company has offered to exchange (the “Exchange Offer”) up to $750 million aggregate principal amount of
the outstanding Securities from Eligible Holders (as defined in that certain offering memorandum and consent solicitation
statement, dated June 25, 2020 (the “Offering Memorandum”)) for 8.000% Senior Secured Notes due 2026 (the “New
Notes”) and cash (the “Cash Consideration”) and, in conjunction with the Exchange Offer, has solicited
consents from registered holders (“Holders”) of the Securities to the amendments to the Indenture contained
herein (the “Consent Solicitation”), in each case, upon the terms and subject to the conditions as set forth
in the Offering Memorandum;

 

WHEREAS,
Section 9.02 of the Indenture provides that the Company, the Subsidiary Guarantors and the Trustee may amend or supplement
the Indenture with the consent of the Holders of at least a majority in aggregate principal amount of the outstanding Securities
(including consents obtained in connection with a tender offer or exchange offer for the Securities) (the “Requisite Consents”);

 

WHEREAS,
the Company has received the Requisite Consents to effect the amendments to the Indenture set forth in Article II hereof
based on reports provided by Global Bondholder Services Corporation, as information agent and exchange agent in the Exchange
Offer and Consent Solicitation, and have delivered such Requisite Consents to the Trustee;

 

WHEREAS, the execution and delivery of this
Supplemental Indenture has been duly authorized by the Company and the Subsidiary Guarantors and all conditions and requirements
necessary to make this instrument a valid and binding agreement have been duly performed and complied with;

 

WHEREAS, pursuant to Section 9.02 and Section
9.06 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture; and

 

WHEREAS, this Supplemental Indenture shall
be effective upon its signing by the parties hereto, but the provisions of Article II will become operative (the “Operative
Date”) upon the issuance of the New Notes and payment of the Cash Consideration in the Exchange Offer, and payment of
the Consent Payment (as defined in the Offering Memorandum) in the Consent Solicitation, on the settlement date of the Exchange
Offer (the “Settlement Date”).

 

     

     

    

 

NOW THEREFORE, in consideration of the foregoing
and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Company, the Subsidiary Guarantors
and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Securities as follows:

 

ARTICLE
I 

DEFINITIONS

 

All capitalized terms used but not defined
herein shall have the meanings ascribed to such terms in the Indenture. All definitions in the Indenture shall be read in a manner
consistent with the terms of this Supplemental Indenture.

 

ARTICLE
II 

Consented
Amendments

 

Section
2.01. Amendments to Certain Definitions of the Indenture. Subject
to Section 3.02 hereof, Section 1.01 of the Indenture is hereby amended as follows:

 

a)                 
clause (a) in the definition of “Permitted Liens” in Section 1.01 of the Indenture is hereby amended and restated
in its entirety as follows:

 

“(a)Liens
to secure Debt permitted to be Incurred under clause (b), (c), (d)(i), (g), (l), (s) (with respect to clause (d), (x)
or (y)), (x) or (y) of the second paragraph of Section 4.03;”

 

b)                 
Section 1.01 of the Indenture is hereby amended by adding the following definitions in their proper alphabetical order which,
in the event of a conflict with the definition of terms in the Indenture, shall supersede and replace the corresponding definitions
in the Indenture:

 

“Settlement
Date” means the settlement date of the Company’s offer to Eligible Holders (as defined in the offering memorandum
and consent solicitation statement, dated June 25, 2020) to exchange up to $750,000,000 aggregate principal amount of the Securities
for up to $600,000,000 aggregate principal amount of the 8.00% Notes due 2026 and cash.

 

“Third
Operative Date” means the date upon which the provisions of Article II of the Third Supplemental Indenture become
operative.

 

“Third
Supplemental Indenture” means the Supplemental Indenture, dated as of July 9, 2020, among the Company, the Subsidiary
Guarantors and The Bank of New York Mellon Trust Company, N.A., as trustee, to this Indenture.

 

    2 

     

    

 

“7.50%
Notes due 2025” means the Company’s 7.50% Senior Notes due 2025 issued under the indenture, dated as of February
5, 2020, among the Company, the Subsidiary Guarantors and The Bank of New York Mellon Trust Company, N.A., as trustee, and outstanding
as of the Operative Date.

 

“8.00% Notes due 2026”
means the Company’s 8.00% Senior Secured Notes due 2026 issued under the indenture, dated as of the Settlement Date, among
the Company, the Subsidiary Guarantors and The Bank of New York Mellon Trust Company, N.A., as trustee, and outstanding as of the
Operative Date.

 

Section
2.02. Amendments to Certain Covenants of the Indenture. Subject
to Section 3.02 hereof, Section 4.03 of the Indenture is hereby amended as follows:

 

a)                 
Section 4.03(2)(s) of the Indenture is hereby amended and restated in its entirety as follows:

 

“(s)Permitted
Refinancing Debt Incurred in respect of Debt Incurred pursuant to clause (1) of the first paragraph of this Section 4.03
and clauses (a), (c), (d), (e), (k), (m) and (q) above, clauses (x) and (y) below and this clause (s);”

 

b)                 
Section 4.03(2)(v) of the Indenture is hereby amended to delete the word “and” at the end of the clause.

 

c)                 
Section 4.03(2)(w) of the Indenture is hereby amended to delete the period and insert a semi-colon at the end of the clause.

 

d)                 
Section 4.03(2) of the Indenture is hereby amended by adding the following provisions in their proper alphabetical order:

 

“(x)Debt
of the Company outstanding on the Third Operative Date consisting of the 7.50% Notes due 2025 and of Subsidiary Guarantors, including
any future Guarantor, consisting of guarantees relating to the 7.50% Notes due 2025; and”

 

“(y)Debt
of the Company outstanding on the Third Operative Date consisting of the 8.00% Notes due 2026 and of Subsidiary Guarantors, including
any future Guarantor, consisting of guarantees relating to the 8.00% Notes due 2026.”

 

ARTICLE
III 

MISCELLANEOUS
provisions

 

Section
3.01. Ratification of Indenture; Supplemental Indentures Part of Indenture. Except
as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions
thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes,
and every holder of Securities heretofore or hereafter authenticated and delivered shall be bound hereby.

 

    3 

     

    

 

Section
3.02. Effectiveness. This Supplemental Indenture shall become
effective and binding on the Company, the Subsidiary Guarantors, the Trustee and every Holder of the Securities heretofore or hereafter
authenticated and delivered under the Indenture, upon the execution and delivery by the parties to this Supplemental Indenture;
provided that the amendments to the Indenture set forth in Article II hereof shall not become operative until the Operative
Date. Prior to the Operative Date, the Company or the Subsidiary Guarantors may terminate this Supplemental Indenture upon written
notice to the Trustee. If the Exchange Offer has been terminated or withdrawn, or if upon the Settlement Date, the Company has
not issued the New Notes and paid the Cash Consideration and the Consent Payment, this Supplemental Indenture shall be automatically
terminated and the Indenture will remain in effect in its current form.

 

Section
3.03. Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED
BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK BUT WITHOUT REFERENCE TO APPLICABLE PRINCIPLES OF CONFLICTS
OF LAW.

 

Section
3.04. Trustee Makes No Representation. The Trustee makes no
representation as to the validity or sufficiency of this Supplemental Indenture and shall not be responsible for the recitals contained
herein, all which recitals are made solely by the other parties hereto.

 

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

 

Section
3.06. Effect of Headings. The Section headings herein are for
convenience only and shall not effect the construction thereof.

 

    4 

     

    

 

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

 

	 	RITE AID CORPORATION, on behalf
    of 

itself and the subsidiary guarantors
	 	 
	 	By:	      /s/ Matt Schroeder
	 	 	Name: Matt Schroeder
	 	 	Title: Chief Financial Officer

 

[Signature Page to Supplemental Indenture]

     

     

    

 

	 	THE BANK OF NEW YORK MELLON
    

TRUST COMPANY, N.A., as Trustee
	 	 
	 	By:	     /s/ Julie Hoffman-Ramos 
	 	 	Name: Julie Hoffman-Ramos
	 	 	Title: Vice President

 

[Signature Page to Supplemental Indenture]EXHIBIT
4.4

 

Description
of the Company’s Securities Registered Pursuant to Section 12 of the Securities Act of 1934

 

We
are a Florida corporation. The rights of our stockholders are governed by the Florida Business Corporation Act, or the FBCA, our
amended and restated articles of incorporation and our amended and restated bylaws. The following summary of the material terms,
rights and preferences of our capital stock is not complete. You should read our amended and restated articles of incorporation,
which we refer to as our charter, and our bylaws, for more complete information. You should read these documents, copies of which
are filed as exhibits to our annual report on Form 10-K.

 

Authorized
Capitalization

 

Our
authorized capital stock consists of:

 

	 	●	5,000,000
    shares of common stock, par value $.01 per share; and
	 	 	 
	 	●	6,000,000
    shares of preferred stock, without par value.

 

Common
Stock

 

As
of June 30, 2020, we had 2,951,352 outstanding shares of common stock.

 

Voting
Rights. Each holder of our common stock is entitled to one vote per share on each matter submitted to a vote of stockholders.
Our bylaws provide that the presence of holders of shares representing a majority of the voting power of our outstanding capital
stock entitled to vote at a stockholders’ meeting shall constitute a quorum. When a quorum is present, the affirmative vote
of a majority of the votes cast is required to take action, unless otherwise specified by law, the NASDAQ listing rules or our
articles of incorporation. There are no cumulative voting rights.

 

Dividends.
Each holder of our common stock is entitled to such dividends as the board of directors may declare from time to time out
of funds legally available therefor. Our ability to pay dividends depends upon the receipt of distributions from the Bank because
we have no other source of income. The rights of common shareholders to receive dividends are subject to the preferential rights
of any preferred stock that we may issue in the future.

 

Preferred
Stock

 

Our
board of directors is authorized, without further action of the stockholders, to issue from time to time shares of preferred stock
in one or more series and with such relative rights, powers, preferences, and limitations as the board of directors may determine
at the time of issuance. Such shares may be convertible into common stock and may be senior to the common stock in the payment
of dividends, liquidation, voting and other rights, preferences and privileges. The issuance of shares of preferred stock could
adversely affect the holders of common stock. For example, the issuance of preferred stock could be used in certain circumstances
to render more difficult or discourage a merger, tender offer, proxy contest or removal of incumbent management. Preferred stock
may be issued with voting and conversion rights that could adversely affect the voting power and other rights of the holders of
common stock.

 

Series
B Preferred

 

The
Board has authorized a new class of preferred stock to be entitled “Series B Preferred Stock.” The Company will be
authorized to issue 100 shares of Series B Preferred. As of June 30, 2020, we had 100 outstanding shares of Series B preferred
stock.

 

Rank.
Except as otherwise expressly set forth in the Certificate of Designation for the Series B Preferred Stock, all Shares of the
Series B Preferred Stock rank senior to all Junior Securities, with respect to payment or distribution of assets upon liquidation,
dissolution, or winding up of the Company, whether voluntary or involuntary. “Junior Securities” means, collectively,
the Common Stock and any other class of securities that is specifically designated as junior to the Series B Preferred Stock.

 

    	 		 

     

    

 

Participating
Dividends. Except in the case of liquidation, if the Company declares or pays a dividend or distribution on the Common Stock,
the Company shall simultaneously declare and pay a dividend on the Series B Preferred Stock on a pro rata basis with the Common
Stock determined on an as-converted basis assuming all Shares of Series B Preferred Stock had been converted immediately prior
to the record date of the applicable dividend.

 

Liquidation.
In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company (a “Liquidation”),
the holders of Shares of Series B Preferred Stock then outstanding shall be entitled to be paid out of the assets of the Company
available for distribution to its stockholders, before any payment shall be made to the holders of Junior Securities by reason
of their ownership thereof, an amount per Share equal to the greater of (i) the Series B Original Issue Price of $25,0000, or
(ii) such amount per Share as would have been payable had all shares of Series B Preferred Stock been converted into Common Stock
immediately prior to such Liquidation (the amount payable pursuant to this sentence is hereinafter referred to as the “Series
B Liquidation Amount”).

 

Voting.
Except as provided below and otherwise provided by law, the holders of the Series B Preferred Stock will have no voting rights.

 

Supermajority
Voting Rights—Amendments. The affirmative vote or consent of the holders of at least 66-2/3% of all of the Shares of
the Series B Preferred Stock at the time outstanding, voting separately as a class (a “Supermajority Interest”), shall
be required to amend the provisions of the Articles of Incorporation so as to materially and adversely affect the rights, preferences
or privileges of the Series B Preferred Stock, taken as a whole.

 

Supermajority
Voting Rights—Priority. The affirmative vote or consent of a Supermajority Interest of the Series B Preferred Stock
shall be required to issue, authorize or increase the authorized amount of, or to issue or authorize any obligation or security
convertible into or evidencing the right to purchase, any class or series of stock ranking senior to the shares of the Series
B Preferred Stock with respect to payment of dividends or the distribution of assets upon any Liquidation of the Company.

 

Right
to Convert. Subject to the provisions of described below, at any time and from time to time on or after issuance, the Company
shall have the right to convert all or any portion of the outstanding Shares of Series B Preferred Stock into an aggregate number
of shares of Common Stock as is determined by (i) multiplying the number of Shares (including any fraction of a Share) to be converted
by the Series B Original Issue Price thereof, and then (ii) dividing the result by the Conversion Price in effect immediately
prior to such conversion. The initial conversion price per Share (the “Conversion Price”) shall be $2.50 per Share,
subject to certain adjustments. No fractional shares of Common Stock shall be issued upon conversion of the Series B Preferred
Stock. In lieu of any fractional shares to which the holder would otherwise be entitled, the Company shall pay cash equal to such
fraction multiplied by the fair market value of a share of Common Stock as determined in good faith by the Board of Directors
of the Company.

 

Limitations
on Conversion. The right of the Company to convert any of the Shares of the Series B Preferred Stock shall be subject to the
prior fulfillment of the following conditions:

 

(a)
Such conversion shall have been by approved by the holders of a majority of the outstanding Common Stock of the Company;
and

 

(b)
Such conversion shall not result in any holder of the Series B Preferred Stock and any Persons with whom the holder may be
acting in concert, becoming Beneficial Owners of more than 9.9% of the outstanding shares of the Common Stock. For purposes
of this subsection, the term “Beneficial Owner” shall have the meaning given to such term in SEC Rule
13d-3.

 

Reservation
of Stock. The Company shall at all times when any Shares of Series B Preferred Stock is outstanding reserve and keep available
out of its authorized but unissued shares of capital stock, solely for the purpose of issuance upon the conversion of the Series
B Preferred Stock, such number of shares of Common Stock issuable upon the conversion of all outstanding Series B Preferred Stock.

 

    	 		 

     

    

 

Adjustment
to Conversion Price and Number of Conversion Shares. The Conversion Price and the number of Conversion Shares issuable on
conversion of the Shares of Series B Preferred Stock shall be subject to customary adjustments upon dividend, subdivision, or
combination of common stock, and upon any reorganization, reclassification, consolidation or merger.

 

Preemptive
Rights. The holders of shares of Series B Preferred Stock shall have no preemptive rights with respect to any shares of the
Company’s capital stock or any of its other securities convertible into or carrying rights or options to purchase any such
capital stock.

 

Anti-Takeover
Effects of Certain Provisions of Florida Law

 

Section
607.0902 of the FBCA prohibits the voting of shares in a publicly-held Florida corporation that are acquired in a “control
share acquisition” unless the holders of a majority of the corporation’s voting shares (exclusive of shares held by
officers of the corporation, inside directors or the acquiring party) approve the granting of voting rights as to the shares acquired
in the control share acquisition or unless the acquisition is approved by the corporation’s Board of Directors. A “control
share acquisition” is defined as an acquisition that immediately thereafter entitles the acquiring party to vote in the
election of directors within each of the following ranges of voting power: (i) one-fifth or more but less than one-third of all
voting power; (ii) one-third or more but less than a majority of all voting power; and (iii) more than a majority of all voting
power.

 

Sections
607.0901 of the FBCA contains an “affiliated transaction” provision that prohibits a publicly-held Florida corporation
from engaging in a broad range of business combinations or other extraordinary corporate transactions with an “interested
shareholder” unless, among others: (i) the transaction is approved by a majority of disinterested directors before the person
becomes an interested shareholder; (ii) the interested shareholder has owned at least 80% of the corporation’s outstanding
voting shares for at least five years; or (iii) the transaction is approved by the holders of two-thirds of the corporation’s
voting shares other than those owned by the interested shareholder. An interested shareholder is defined as a person who together
with affiliates and associates beneficially owns more than 10% of the corporation’s outstanding voting shares.

 

Authorized
but Unissued Shares

 

The
FCBA provides that the authorized but unissued shares of common stock and preferred stock of a Florida corporation are available
for future issuance without stockholder approval; however, such issuances by the Company are subject to various limitations imposed
by the NASDAQ Capital Market. These additional shares may be utilized for a variety of corporate purposes, including future public
offerings to raise additional capital, corporate acquisitions and employee benefit plans. The existence of authorized but unissued
shares of common stock and preferred stock could make it more difficult or discourage an attempt to obtain control of us by means
of a proxy contest, tender offer, merger or otherwise.

 

Election
and Removal of Directors

 

Our
bylaws require a minimum of three directors with the number of directors at any time to be fixed by board resolution. Directors
are elected by a plurality of the votes cast at each annual meeting of our stockholders when a quorum is present. The FBCA provides
that stockholders may remove directors with or without cause by the affirmative vote of a majority of the votes cast at a meeting
of stockholders called for the purpose of removing the director when a quorum is present.

 

Board
Meetings

 

Our
bylaws provide that the chairman of the board, president or the board of directors may call special meetings of the board of directors.

 

    	 		 

     

    

 

Special
Shareholder Meetings

 

Our
bylaws provide that a special meeting may be called by the chairman of the board, the president, or a majority of the board, and
must be called by the secretary upon a request in writing of stockholders owning at least ten percent of all our capital stock
then issued, outstanding and entitled to vote.

 

Modification
of Rights of Common Shareholders

 

Under
the FCBA, the rights of the holders of common shares authorized in a corporation such as the Company may be modified by a majority
vote of shares present at a shareholders’ meeting called for such purpose, except for most business combinations, including
mergers, consolidations and sales of substantially all of the assets of a corporation, which must be approved by the vote of the
holders of at least a majority of the outstanding shares of common stock and any other affected class of stock of a Florida corporation.

 

Indemnification
of Officers and Directors

 

Under
the FBCA, a corporation may indemnify its directors and officers against liability if the director or officer acted in good faith
and with a reasonable belief that his actions were in the best interests of the corporation, or at least not adverse to the corporation’s
best interests, and, in a criminal proceeding, if the individual had no reasonable cause to believe that the conduct in question
was unlawful. Under the FBCA, a corporation may not indemnify an officer or director against liability in connection with a claim
by or in the right of the corporation in which such officer or director was adjudged liable to the corporation or in connection
with any other proceeding in which the officer or director was adjudged liable for receiving an improper personal benefit. However,
a corporation may indemnify against the reasonable expenses associated with such proceeding. A corporation may not indemnify against
breaches of the duty of loyalty. The FBCA provides for mandatory indemnification against all reasonable expenses incurred in the
successful defense of any claim made or threatened, regardless of whether such claim was by or in the right of the corporation,
unless limited by the corporation’s articles of incorporation. A court may order indemnification if it determines that the
director or officer is fairly and reasonably entitled to indemnification in view of all the relevant circumstances, regardless
of whether the director or officer met the good faith and reasonable belief standards of conduct set out in the statute. Unless
otherwise stated in the articles of incorporation, officers of the corporation are also entitled to the benefit of the above statutory
provisions.

 

Consistent
with Florida law, our bylaws provide for the indemnification of our directors or officers to the fullest extent permitted by applicable
law.

 

Transfer
Agent and Registrar

 

The
transfer agent and registrar for our common stock is Continental Stock Transfer and Trust Company.

 

Listing

 

Our
common stock is listed on the NASDAQ Capital Market under the symbol “OPHC.”

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00312-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00312-of-00352.parquet"}]]