Document:

EX-10.12

 Exhibit 10.12 

8000 JARVIS AVENUE BUILDING 

OFFICE LEASE AGREEMENT 

(MULTI-TENANT, FULL-SERVICE GROSS, CALIFORNIA) 

between 
 8000 JARVIS
EQUITIES LLC, 
 as Landlord 

and 
 Rain Therapeutics,
Inc. 
 as Tenant 

									
	 1.
	 	 PREMISES
	  	 	7	 
	 2.
	 	 COMMENCEMENT DATE; POSSESSION
	  	 	7	 
		 	 2.1
	  	 Commencement Date
	  	 	7	 
		 	 2.2
	  	 Early Occupancy
	  	 	7	 
	 3.
	 	 RENT
	  	 	7	 
		 	 3.1
	  	 Base Rent
	  	 	7	 
		 	 3.2
	  	 Additional Rent: Increases in Operating Costs, Taxes and Utilities
	  	 	7	 
		 	 3.3
	  	 Payment of Rent
	  	 	11	 
		 	 3.4
	  	 No “Key Money”
	  	 	11	 
	 4.
	 	 SECURITY DEPOSIT
	  	 	11	 
	 5.
	 	 USE AND COMPLIANCE WITH LAWS
	  	 	12	 
		 	 5.1
	  	 Use; Permitted Encumberances; Suitability of Premises
	  	 	12	 
		 	 5.2
	  	 Hazardous Materials
	  	 	13	 
	 6.
	 	 ALTERATIONS
	  	 	14	 
		 	 6.1
	  	 Alternations by Tenant
	  	 	14	 
		 	 6.2
	  	 Landlord’s Approval for Alterations
	  	 	15	 
		 	 6.3
	  	 Liens
	  	 	15	 
		 	 6.4
	  	 Trade Fixtures
	  	 	15	 
	 7.
	 	 MAINTENANCE AND REPAIRS
	  	 	15	 
		 	 7.1
	  	 Tenant’s Obligations
	  	 	15	 
		 	 7.2
	  	 Landlord’s Obligations
	  	 	15	 
		 	 7.3
	  	 Landlord’s Rights
	  	 	15	 
	 8.
	 	 TENANT’S TAXES
	  	 	16	 
	 9.
	 	 UTILITIES AND SERVICES
	  	 	16	 
		 	 9.1
	  	 Description of Services
	  	 	16	 
		 	 9.2
	  	 Payment for Additional Utilities and Services
	  	 	16	 
		 	 9.3
	  	 Interruption of Services
	  	 	17	 
		 	 9.4
	  	 Utilities and Services Furnished by Tenant
	  	 	17	 
		 	 9.5
	  	 Utility Providers
	  	 	17	 
	 10.
	 	 EXCULPATION AND INDEMNIFICATION
	  	 	18	 
		 	 10.1
	  	 Limitation on Liability
	  	 	18	 
		 	 10.2
	  	 Tenant’s and Landlord’s Indemnity
	  	 	18	 
		 	 10.3
	  	 Survival
	  	 	18	 
	 11.
	 	 INSURANCE
	  	 	19	 
		 	 11.1
	  	 Tenant’s Insurance
	  	 	19	 
		 	 11.2
	  	 Landlord’s Insurance
	  	 	20	 
		 	 11.3
	  	 Property Insurance - Waiver of Subrogation
	  	 	20	 
	 12.
	 	 DAMAGE OR DESTRUCTION
	  	 	20	 
		 	 12.1
	  	 Landlord’s Duty to Repair.
	  	 	20	 
		 	 12.2
	  	 Landlord’s Right to Terminate
	  	 	21	 
		 	 12.3
	  	 Tenant’s Right to Terminate
	  	 	21	 
		 	 12.4
	  	 Waiver
	  	 	21	 
	 13.
	 	 CONDEMNATION
	  	 	21	 
		 	 13.1
	  	 Definitions.
	  	 	21	 
		 	 13.2
	  	 Effect on Lease
	  	 	22	 
		 	 13.3
	  	 Restoration
	  	 	22	 
		 	 13.4
	  	 Abatement and Reduction of Rent
	  	 	22	 
		 	 13.5
	  	 Awards
	  	 	22	 
		 	 13.6
	  	 Waiver
	  	 	23	 
	 14.
	 	 ASSIGNMENT AND SUBLETTING
	  	 	23	 
		 	 14.1
	  	 Landlord’s Consent Required
	  	 	23	 
		 	 14.2
	  	 Reasonable Consent
	  	 	23	 
		 	 14.3
	  	 Excess Consideration
	  	 	24	 
		 	 14.4
	  	 No Release of Tenant
	  	 	24	 
		 	 14.5
	  	 Expenses and Attorneys’ Fees
	  	 	24	 
		 	 14.6
	  	 Effectiveness of Transfer
	  	 	24	 

  
 2 

									
		 	 14.7
	  	 INTENTIONALLY OMITTED
	  	 	24	 
		 	 14.8
	  	 Assignment of Sublease Rents
	  	 	25	 
		 	 14.9
	  	 Intentionally Omitted.
	  	 	25	 
		 	 14.10
	  	 Effect of Impermissible Transfer
	  	 	25	 
	 15.
	 	 DEFAULT AND REMEDIES
	  	 	25	 
		 	 15.1
	  	 Events of Default.
	  	 	25	 
		 	 15.2
	  	 Remedies
	  	 	26	 
		 	 15.3
	  	 Subleases of Tenant
	  	 	27	 
		 	 15.4
	  	 INTENTIONALLY OMITTED
	  	 	27	 
	 16.
	 	 LATE CHARGE AND INTEREST
	  	 	27	 
		 	 16.1
	  	 Late Charge
	  	 	27	 
		 	 16.2
	  	 Interest
	  	 	27	 
	 17.
	 	 WAIVER
	  	 	27	 
	 18.
	 	 ENTRY, INSPECTION AND CLOSURE
	  	 	28	 
	 19.
	 	 SURRENDER AND HOLDING OVER
	  	 	28	 
		 	 19.1
	  	 Surrender
	  	 	28	 
		 	 19.2
	  	 Holding Over
	  	 	28	 
	 20.
	 	 ENCUMBRANCES
	  	 	29	 
		 	 20.1
	  	 Subordination
	  	 	29	 
		 	 20.2
	  	 Attornment
	  	 	29	 
		 	 20.3
	  	 INTENTIONALLY OMITTED
	  	 	29	 
		 	 20.4
	  	 Self-Executive
	  	 	29	 
		 	 20.5
	  	 Mortgagee Protection
	  	 	29	 
	 21.
	 	 ESTOPPEL CERTIFICATES AND FINANCIAL STATEMENTS
	  	 	29	 
		 	 21.1
	  	 Estoppel Certificates
	  	 	29	 
		 	 21.2
	  	 Financial Statements
	  	 	30	 
	 22.
	 	 NOTICES
	  	 	30	 
		 	 22.1
	  	 Notices Generally
	  	 	30	 
		 	 22.2
	  	 Replacement of Statutory Notice Requirements
	  	 	30	 
	 23.
	 	 ATTORNEYS’ FEES
	  	 	30	 
		 	 23.1
	  	 Disputes between Landlord and Tenant
	  	 	30	 
		 	 23.2
	  	 Other Litigation
	  	 	30	 
	 24.
	 	 QUIET POSSESSION
	  	 	31	 
	 25.
	 	 SECURITY MEASURES
	  	 	31	 
	 26.
	 	 FORCE MAJEURE
	  	 	31	 
	 27.
	 	 RULES AND REGULATIONS
	  	 	31	 
	 28.
	 	 LANDLORD’S LIABILITY
	  	 	31	 
	 29.
	 	 CONSENTS AND APPROVALS
	  	 	31	 
		 	 29.1
	  	 Determination in Good Faith
	  	 	31	 
		 	 29.2
	  	 No Liability Imposed on Landlord
	  	 	32	 
	 30.
	 	 BROKERS
	  	 	32	 
	 31.
	 	 INTENTIONALLY OMITTED
	  	 	32	 
	 32.
	 	 ENTIRE AGREEMENT
	  	 	32	 
	 33.
	 	 INDEPENDENT COVENANTS
	  	 	32	 
	 34.
	 	 MUTUAL REPRESENTATION OF AUTHORITY
	  	 	32	 
	 35.
	 	 SIGNS
	  	 	32	 
		 	 35.1
	  	 Full Floors
	  	 	32	 
		 	 35.2
	  	 Multi-Tenant Floors
	  	 	32	 
		 	 35.3
	  	 Prohibited Signage and Other Items
	  	 	33	 
		 	 35.4
	  	 Building Directory
	  	 	33	 
		 	 35.5
	  	 Building Name: Landlord’s Signage Rights
	  	 	33	 
		 	 35.6
	  	 Pylon
	  	 	33	 
	 36.
	 	 TENANT PARKING
	  	 	33	 
	 37.
	 	 INTENTIONALL OMITTED
	  	 	33	 
	 38.
	 	 WAIVER OF JURY TRIAL
	  	 	33	 
	 39.
	 	 LIMITATION OF ACTIONS AGAINST LANDLORD
	  	 	33	 

  
 3 

									
	 40.
	 	 MISCELLANEOUS
	  	 	33	 
		 	 40.1
	  	 Amendments
	  	 	33	 
		 	 40.2
	  	 Successors and Assigns
	  	 	33	 
		 	 40.3
	  	 Governing Law
	  	 	33	 
		 	 40.4
	  	 Severability
	  	 	33	 
		 	 40.5
	  	 Interpretation
	  	 	34	 
		 	 40.6
	  	 Joint and Several
	  	 	34	 
		 	 40.7
	  	 Time of Essence
	  	 	34	 
		 	 40.8
	  	 Nondisclosure of Lease Terms
	  	 	34	 
		 	 40.9
	  	 Changes Requested By Lender
	  	 	34	 
		 	 40.10
	  	 Right To Lease
	  	 	34	 
		 	 40.11
	  	 No Air Rights
	  	 	34	 
		 	 40.12
	  	 Transportation Management
	  	 	34	 
		 	 40.13
	  	 Prior Drafts
	  	 	34	 
		 	 40.14
	  	 CC&R’s
	  	 	34	 
		 	 40.15
	  	 Counterparts
	  	 	35	 

  
 4 

 BASIC LEASE INFORMATION 

 

											
	Lease Date:	  	September 24, 2018 (for reference purposes only)	  

		
	Landlord:	  	8000 Jarvis Avenue Equities LLC, a California limited liability company	  

		
	Tenant:	  	Rain Therapeutics, Inc., a Delaware C-Corp	  

		
	Building:	  	8000 Jarvis Avenue, Newark, California	  

		
	Rentable Area of Building:	  	49,580 rentable square feet	  

		
	Premises:	  	Those premises located on the second floor of the Building, and commonly referred to as Suite 204.	  

		
	Approximate Rental Area of Premises:	  	3,857 rentable square feet	  

		
	Parking Spaces:	  	Unreserved parking spaces allocated to the Building based on 4/1000 square feet ratio	  

		
	Term:	  	61 months: The period of time commencing on the Commencement Date (as defined below), and ending on the date (the “Expiration Date”) that is the last day of the 61st full calendar month following the Commencement Date.	  

		
	Commencement Date:	  	Upon Substantial Completion of Tenant Improvements	  

				
	Base Rent	  	Months following the Commencement Date	  	Monthly Base Rent	 	  	 Monthly Rent per

Square Foot
	 
		  	Months 0 - 1 following the Commencement Date	  	$	N/A	 	  	$	N/A	 
		  	Months 2 - 13 following the Commencement Date	  	$	12,728.10	 	  	$	3.30	 
		  	Months 14 - 25 following the Commencement Date	  	$	13,113.8	 	  	$	3.40	 
		  	Months 26 - 37 following the Commencement Date	  	$	13,499.5	 	  	$	3.50	 
		  	Months 38 - 49 following the Commencement Date	  	$	13,923.77	 	  	$	3.61	 
		  	Months 50 - 61 following the Commencement Date	  	$	14,309.47	 	  	$	3.71	 
				
	 Base Year:
	  	The calendar year 2018	  				  			
				
	 Tenant’s Share:
	  	0.07778%	  				  			
				
	 Security Deposit:
	  	$75,000.00	  				  			

  
 5 

							
	Landlord’s Address for Rent:	  	See below address for Notices
		
	Business Hours of Building:	  	7:00 AM to 6:00 PM Monday-Friday, exclusive of generally recognized holidays
				
	Landlord’s Address for Notices:	  	 c/o Time Equities, Inc.
 55 Fifth Avenue, 15th
Floor
 New York, New York 10003
 Attention: Richard
Recny
	  		  	
			
	Tenant’s Address for Notices:	  		  	
		
	Broker:	  	Newmark Cornish & Carey (Landlord); Savillis Studley (Tenant)
				
	Guarator(s):	  	None	  		  	
		
	CC&Rs:	  	Property is subject to the Covenants, Conditions and Restrictions dated March 26 1999 and June 10, 1997.
			
	Exhibits:	  	Exhibit A:	  	The Premises
			
		  	Exhibit B:	  	Construction Rider
			
		  	Exhibit C:	  	Commencement Date Memorandum
			
		  	Exhibit D:	  	Building Rules

 The Basic Lease Information set forth above is part of the Lease and capitalized terms shall be defined terms
in the Lease. In the event of any conflict between any Basic Lease Information and the Lease, the Lease shall control. 

  
 6 

 OFFICE LEASE AGREEMENT 

This Office Lease Agreement (this “Lease”) is made as of the Lease Date set forth in the Basic Lease Information, by and
between the Landlord identified in the Basic Lease Information (“Landlord”), and the Tenant identified in the Basic Lease Information (“Tenant”). Landlord and Tenant hereby agree as follows: 

1. PREMISES. Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, upon the terms and subject to the conditions of this
Lease, the office space identified in the Basic Lease Information (the “Premises”), in the Building identified in the Basic Lease Information (the “Building”). The approximate configuration and location of the
Premises are shown on Exhibit A. The Building, the parking facilities serving the Building (the “Parking Facility”), and the parcel(s) of land on which the Building and the Parking Facility are situated (the
“Land”) are sometimes collectively referred to in this Lease as the “Property”. The Rental Area of the Premises as set forth in the Basic Lease Information is a measurement of the Premises in accordance with the
method for determining “rentable area” and “usable area” under the Building Owners and Managers Association International, Office Buildings: Standard Methods of Measurement (ANSI/BOMA Z65.1 — 2010). Following such
measurement, if the rentable square footage of the Premises differs from that set forth in the Basic Lease Information, Tenant and Landlord shall amend this Lease to revise the monthly Base Rent, the Tenant’s Share and to otherwise reflect such
revised rentable area of the Premises. 
 2. COMMENCEMENT DATE; POSSESSION. 

2.1 Commencement Date. The Commencement Date as set forth in the Basic Lease Information shall be upon Substantial Completion of the
Tenant Improvements as defined in Exhibit B, Construction Rider. When the actual Commencement Date has been established, and within five (5) business days after Landlord’s written request, Tenant shall confirm the Commencement Date and
Expiration Date in writing, using a Commencement Date Memorandum substantially in the form attached hereto as Exhibit C. “Substantially Complete” or “Substantial Completion” shall mean the date Tenant Improvements are
complete and the Demised Premises are in the condition required hereunder, excepting only minor Punch List (as defined below) items that are completed by Landlord within thirty (30) days and which do not interfere with Tenant’s ability to
occupy the Demised Premises. Landlord shall provide Tenant written notice two (2) business days prior to Substantial Completion of Landlord’s Work and Landlord’s proposed delivery of the Demised Premises. Upon delivery of the Demised
Premises to Tenant, Landlord and Tenant shall coordinate a walk-through of the Demised Premises and Tenant shall indicate any deficiencies then apparent (“Punch List”). Landlord shall promptly commence and diligently prosecute until
completed the items set forth in the Punch List no later than thirty (30) days after the compilation of the Punch List. 
 2.2
Early Occupancy. Provided that Tenant does not interfere with the completion of the Tenant Improvements (hereinafter defined), the Tenant shall have the right to access the Demised Premises thirty (30) days prior to the projected
Date of Substantial Completion. 
 3. RENT. 

3.1 Base Rent. Tenant agrees to pay to Landlord the Base Rent set forth in the Basic Lease Information, without prior notice or
demand, on the first day of each and every calendar month during the Term, except that Base Rent for the first full calendar month in which Base Rent is payable shall be paid upon execution of this Lease and Base Rent for any partial month at the
beginning of the Term shall be paid on the Commencement Date. Base Rent for any partial month at the beginning or end of the Term shall be prorated based on the actual number of days in the month. 

3.2 Additional Rent: Increases in Operating Costs, Taxes and Utilities. 

(a) Definitions. 

(1) “Base Operating Costs” means the Operating Costs for the calendar year specified as the Base Year in the
Basic Lease Information. 

  
 7 

 (2) “Base Taxes” means the Taxes for the calendar year
specified as the Base Year in the Basic Lease Information. 
 (3) “Base Utilities” means the total
Utilities for the total Rentable Area of the Building for the calendar year specified as the Base Year in the Basic Lease Information. 

(4) “Operating Costs” means all costs of managing, operating, maintaining, repairing, renewing and replacing
the Property, including, by way of illustration and not limitation, all costs, expenditures, fees and charges for: (A) operation, maintenance, repair and replacement of the Property (including, without limitation, maintenance, repair and
replacement of glass, the roof covering or membrane, and landscaping; provided, however, that to the extent that the cost of any such replacements are required to be capitalized for federal income tax purposes, the cost of such replacements,
together with interest on the unamortized balance at the rate paid by Landlord on funds borrowed to finance such replacements, shall be amortized over such useful life as Landlord shall reasonably determine); (B) utilities (Utilities as described in
Section 3.2(a)(7) below) and services (including telecommunications facilities and equipment, repairs to and replacements of telephone risers or intra-building network cabling, recycling programs and trash removal), and associated supplies and
materials; (C) compensation (including employment taxes and fringe benefits) for persons who perform duties in connection with the management, operation, maintenance and repair of the Building, such compensation to be appropriately allocated
for persons who also perform duties unrelated to the Building; all executive levels above the property manager level for persons servicing the Property only, shall be excluded; (D) property (including coverage for earthquake and flood if
carried by Landlord), liability, rental income and other insurance relating to the Property, and expenditures for deductible amounts paid under such insurance; (E) licenses, permits and inspections; (F) complying with the requirements of
any law, statute, ordinance or governmental rule or regulation or any orders pursuant thereto (collectively “Laws”); (G) amortization of capital improvements required to comply with Laws, or which are intended to and do reduce
Operating Costs or improve the utility, efficiency or capacity of any Building System, with interest on the unamortized balance at the rate paid by Landlord on funds borrowed to finance such capital improvements (or, if Landlord finances such
improvements out of Landlord’s funds without borrowing, the rate that Landlord would have paid to borrow such funds, as reasonably determined by Landlord), over such useful life as Landlord shall reasonably determine; (H) an office in the
Property for the management of the Property, including expenses of furnishing and equipping such office and the rental value of any space occupied for such purposes; (I) property management fees (which may be paid to an affiliate of Landlord),
or in lieu of such management fees, a reasonable administrative fee to compensate Landlord for managing the Property; (J) reasonable third party accounting, legal and other professional services incurred in connection with the operation of the
Property and the calculation of Operating Costs, Taxes and Utilities; (K) a reasonable allowance for depreciation on machinery and equipment used to maintain the Property and on other personal property owned by Landlord in the Property
(including window coverings and carpeting in common areas); (L) good faith contesting the validity or applicability of any Laws that may affect the Property; (M) the Property’s share of any shared or common area maintenance fees and
expenses; (N) complying with the requirements of the CC&R’s; and (O) any other expense or charge, whether or not hereinbefore described, which in accordance with generally accepted property management practices would be considered
an expense of managing, operating, maintaining, repairing and replacing the Property. Operating Costs for any year during which average occupancy of the Building is less than One Hundred percent (100%) shall be calculated based upon the Operating
Costs that would have been incurred if the Building had an average occupancy of One Hundred percent (100%) during the entire calendar year. If Landlord is not furnishing any particular work or service (the cost of which, if performed or provided by
Landlord, would be included in Operating Costs) to a tenant who has undertaken to perform such work or service in lieu of the performance thereof by Landlord, Operating Costs shall, at Landlord’s sole discretion, be deemed to be increased by an
amount equal to the additional Operating Costs which would reasonably have been incurred during such period by Landlord if it had at its own expense furnished such work or service to such tenant. Landlord shall have the right, at its reasonable
discretion, from time to time, to equitably allocate some or all of the Operating Costs among different tenants of the Building (the “Cost  

  
 8 

 
Pools”). Such Cost Pools may include, but shall not be limited to, the office tenants of the Building and any non-office tenants of the
Building. The above enumeration of services and facilities shall not be deemed to impose an obligation on Landlord to make available or provide such services or facilities except to the extent if any that Landlord has specifically agreed elsewhere
in this Lease to make the same available or provide the same. Without limiting the generality of the foregoing, Tenant acknowledges and agrees that it shall be responsible for providing adequate security for its use of the Premises, the Building and
the Property and that Landlord shall have no obligation or liability with respect thereto, except to the extent, if any, that Landlord has specifically agreed elsewhere in this Lease to provide the same. 

Notwithstanding any contrary terms in the Lease, Operating Costs shall not include (i) capital improvements (except as otherwise provided
above); (ii) costs of special services rendered to individual tenants (including Tenant) for which a special charge is made; (iii) interest, principal, depreciation, and other lender costs and closing costs on any mortgage or mortgages, ground
lease payments, or other debt instrument encumbering any portion of the Building. (iv) costs of leasehold improvements for Tenant or other tenants of the Building; (v) costs of services or other benefits of a type which are not available
to Tenant but which are available to other tenants or occupants, and costs for which Landlord is reimbursed by other tenants of the Building other than through payment of tenants’ shares of increases in Operating Costs, Taxes and Utilities;
(vi) leasing commissions, attorneys’ fees and other expenses incurred in connection with leasing space in the Building or enforcing such leases; (vii) depreciation or amortization, other than as specifically enumerated in the
definition of Operating Costs above; (viii) any costs, fines or penalties including those incurred due to Landlord’s violation of any Law; (ix) advertising and promotional expenses, (x) nonrecurring costs incurred to remedy
structural defects in the original construction of the Building; (xi) repairs or other work needed due to fire, windstorms, or other casualty or cause actually insured against by Landlord or to the extent the Landlord’s insurance required
under Section 11.2 - Landlord’s Insurance would have provided coverage, whichever is greater; and (xii) Additional Utilities and Services (as defined in Section 9.2 below). (xiii) Leasing commissions, accountants’,
consultants’, auditors or attorneys’ fees, costs and disbursements and other expenses incurred in connection with negotiations or disputes with other tenants or prospective tenants or other occupants, or associated with the enforcement of
any other leases or the defense of Landlord’s title to or interest in the real property or any part thereof; (xiv) Costs incurred by Landlord in connection with construction of the Building and related facilities, the correction of latent
defects in construction of the Building or the discharge of Tenant Improvements; (xv) Any bad debt loss, rent loss, or reserves for bad debt or rent loss; (xvi) Landlord’s general corporate or partnership overhead and general
administrative expenses, including the salaries of management personnel who are not directly related to the Building (including the Premises), collectively as the “Project” and primarily engaged in the operation, maintenance, and repair of
the Project, except to the extent that those costs and expenses are included in the management fees; ; (xvii) Fees paid to any affiliate or party related to Landlord to the extent such fees exceed the charges for comparable services rendered by
unaffiliated third parties of comparable skill, stature and reputation in the same market; (xviii) personal income, franchise, transfer taxes, change of ownership, estate, inheritance and capital stock taxes; (xix) The cost of testing for,
containing, removing or otherwise remediating any contamination of the property (including underlying ground water and land) by any toxic or Hazardous Material, including without limitation asbestos and PCBs, and any expenses incurred to comply with
any governmental regulation, ordinance, directive or other provision dealing with asbestos or any other Hazardous Material in the Project, unless such was caused by Tenant or Landlord has reasonable belief such was caused by Tenant; 

(5) “Taxes” means: all real property taxes and general, special or district assessments or other governmental
impositions, of whatever kind, nature or origin, imposed on or by reason of the ownership or use of the Property; governmental charges, fees or assessments for transit or traffic mitigation (including area-wide traffic improvement assessments and
transportation system management fees), housing, police, fire or other governmental service or purported benefits to the Property; personal property taxes assessed on the personal property of Landlord used in the operation of the Property; service
payments in lieu of taxes and taxes and assessments of every kind 

  
 9 

 
and nature whatsoever levied or assessed in addition to, in lieu of or in substitution for existing or additional real or personal property taxes on the Property or the personal property
described above; any increases in the foregoing caused by changes in assessed valuation, tax rate or other factors or circumstances; and the reasonable cost of contesting by appropriate proceedings the amount or validity of any taxes, assessments or
charges described above. Tenant’s share of Taxes shall not be deemed to include (i) any inheritance, succession, transfer, gift, franchise, margin, corporation, capital levy, general income or profit tax; (ii) penalties imposed for
late payment of any tax or assessment; or (iii) any bonds issued for the original construction or redevelopment of the Building. 

(6) “Tenant’s Share” means the Rentable Area of the Premises divided by the total Rentable Area of the
Building, as set forth in the Basic Lease Information. If the Rentable Area of the Building is changed or the Rentable Area of the Premises is changed by Tenant’s leasing of additional space hereunder, Tenant’s Share shall be adjusted
accordingly. 
 (7) “Utilities” means all actual charges for all utilities supplied to the Property,
including natural gas and electricity, water, heat and air-conditioning, and janitorial services as well as related fees, assessments and surcharges paid or incurred in connection with the Property. Utilities
for any year during which the average occupancy of the Building is less than ninety-five percent (95%) shall be calculated based upon the Utilities that would have been incurred if the Building had an average occupancy of ninety-five percent (95%)
during the entire calendar year. 
 (b) Additional Rent. 

(1) Tenant shall pay Landlord as “Additional Rent” for each calendar year or portion thereof during the Term
Tenant’s Share of the sum of (x) the amount (if any) by which Operating Costs for the period exceed Base Operating Costs, and (y) the amount (if any) by which Taxes for such period exceed Base Taxes, and (z) the amount (if any)
by which Utilities for such period exceed the Utilities for the Base Year (“Base Utilities”). It is the intention of Landlord and Tenant that the Base Rent paid to Landlord be absolutely net of all increases in Operating
Costs, Taxes and Utilities over, respectively, the Base Operating Costs, Base Taxes, and Base Utilities, and the provisions of this Section 3(b) are intended to so provide. Tenant agrees that any Taxes or Operating Costs that accrue or are
incurred during the Term of this Lease may be included in the calculation of Additional Rent, notwithstanding that such Taxes or Operating Costs may be payable by Landlord in arrears. Notwithstanding anything to the contrary contained heroin, Tenant
shall pay one hundred percent (100%) of the Taxes separately allocable to the Premises. Notwithstanding anything contained in this section 3(b) to the contrary, the Tenant shall have no obligation to pay Operating Costs, Taxes or Utilities for the
twelve (12) month period following the Commencement Date. 
 (2) Prior to the end of the Base Year and each calendar
year thereafter, Landlord shall notify Tenant of Landlord’s estimate of Operating Costs, Taxes, Utilities and Tenant’s Additional Rent for the following calendar year. Commencing on the first day of January of each calendar year and
continuing on the first day of every month thereafter in such year, Tenant shall pay to Landlord one-twelfth (1/12th) of the estimated Additional Rent. If
Landlord thereafter estimates that Operating Costs, Taxes or Utilities for such year will vary from Landlord’s prior estimate, Landlord may, by notice to Tenant, revise the estimate for such year (and Additional Rent shall thereafter be payable
based on the revised estimate). 
 (3) As soon as reasonably practicable after the end of the Base Year and each calendar
year thereafter, Landlord shall furnish Tenant a statement (the “Statement”) with respect to such year, showing Operating Costs, Taxes, Utilities and Additional Rent for the year, and the total payments made by Tenant with respect
thereto. The payment of any additional Rent by Tenant shall not preclude it from questioning the truth, correctness, or completeness of any statement outlining the Operating Expenses. Tenant and its authorized representatives shall have the right to
audit Landlord’s records with respect to the Operating Expenses once per year. In the 

  
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event Tenant’s audit discloses discrepancies, the appropriate adjustment shall be made, and if such discrepancies result in an overcharge to Tenant that is in excess of 10% of the annual
billing to Tenant for such item(s), Landlord shall also reimburse Lessee for its actual out-of-pocket costs of such audit. Unless Tenant raises any objections to the
Statement within one hundred twenty (120) days after receipt of the same, such Statement shall conclusively be deemed correct and Tenant shall have no right thereafter to dispute such Statement or any item therein or the computation of
Additional Rent based thereon. The accountant or auditor must be a member of a nationally recognized accounting firm and must not charge a fee based on the amount of Additional Rent that the account is able to save Tenant by the inspection. Tenant
must give reasonable notice to Landlord of the request for inspection or audit, and the inspection and audit must be conducted in Landlord’s offices at a reasonable time or times. Any objection of Tenant to the statement and resolution of any
dispute shall not postpone the time for payment of any amounts due Tenant or Landlord based on the Statement, nor shall any failure of Landlord to deliver the Statement in a timely manner relieve Tenant of Tenant’s obligation to pay any amounts
due Landlord based on the Statement. 
 (4) If Tenant’s Additional Rent as finally determined for the year exceeds the
total payments made by Tenant on account thereof; Tenant shall pay Landlord the deficiency within ten (10) business days of Tenant’s receipt of Landlord’s statement. If the total payments made by Tenant on account thereof exceed
Tenant’s Additional Rent as finally determined for the year, Tenant’s excess payment shall be credited toward the rent next due from Tenant under this Lease, unless such excess is more than. Ten Thousand and No/100ths Dollars ($10,000) and
Tenant is not then in default under this Lease, in which event such excess shall be refunded to Tenant. For any partial calendar year at the beginning or end of the Term, Additional Rent shall be prorated on the basis of a 365-day year by computing Tenant’s Share of the Operating Costs, Taxes and Utilities for the entire year and then prorating such amount for the number of days during such year included in the Term.
Notwithstanding a termination of this Lease, Landlord shall pay to Tenant or Tenant shall pay to Landlord, as the case may be, within ten (10) days after Tenant’s receipt of Landlord’s final statement for the calendar year in which
this Lease terminates, the difference between Tenant’s Additional Rent for that year, as finally determined by Landlord, and the total amount previously paid by Tenant on account thereof. 

3.3 Payment of Rent. All amounts payable or reimbursable by Tenant under this Lease, including late charges and interest, shall
constitute rent and shall be payable and recoverable as rent in the manner provided in this Lease. Unless otherwise specified in this Lease, all sums payable to Landlord on demand under the terms of this Lease shall be payable within ten
(10) business days after notice from Landlord of the amounts due. All rent shall be paid without offset, recoupment or deduction, in lawful money of the United States of America to Landlord at Landlord’s Address for Payment of Rent as set
forth in the Basic Lease Information, or to such other person or at such other place as Landlord may from time to time designate. All payments received by Landlord from Tenant shall be applied to the oldest payment obligation owed by Tenant to
Landlord. No designation by Tenant, either in a separate writing or on a check or money order, shall modify this clause or have any force or effect. If any non-cash payment made by Tenant is not paid by the
bank or other institution on which it is drawn, Landlord shall have the right, exercised by notice to Tenant, to require that Tenant make all future payments by certified funds or cashier’s check. 

3.4 No “Key Money”. Tenant agrees that Tenant’s obligation to pay all sums owing under this Lease (including,
without limitation, any sum payable prior to the Commencement Date, such as advance rent pursuant to Section 3.1, or any Security Deposit under Section 4, or any sum payable thereafter, such as Base Rent under Section 3.1, Additional
Rent under Section 3.2, or Landlord’s costs and expenses incurred in connection with any proposed Transfer pursuant to Section 14.1) are clearly stated and arc not in violation of California Civil Code section 1950.8, and Tenant
hereby waives the benefit of California Civil Code section 1950.8 and any similar or successor statute, judicial decision or other law that would allow Tenant to challenge Tenant’s obligation to pay such sums on the basis that such sums
constitute “key money” or other unlawful payments to Landlord. 
 4. SECURITY DEPOSIT. Concurrent with the execution of
this Lease, Tenant shall deposit with Landlord the sum set forth in the Basic Lease Information, in cash, as security for the performance of Tenant’s obligations under this Lease (“Security Deposit”). The Security Deposit shall
be held by Landlord as the last month 

  
 11 

 
of Base Rent. The Security Deposit shall not be mortgaged, assigned, transferred or encumbered by Tenant without the written consent of Landlord, and any such act on the part of Tenant shall be
without force and effect and shall not be binding upon Landlord. Landlord, and any such act on the part of Tenant shall be without force and effect and shall not be binding upon Landlord. Landlord shall have the immediate right to use any portion of
the Security Deposit without prior notice to Tenant, other than that required under the Lease, at any time if: (i) a default occurs under this Lease (beyond any applicable notice and cure period set forth in this lease), (ii) Tenant files a
voluntary petition against Tenant by an entity other than Landlord under any chapter of the Federal Bankruptcy Code, or Tenant executes and assignment for the benefit of creditors, or (iii) Tenant fails to restore or clean the Premises, fails
to remove any signs, or causes damages to the Premises. Following vacation thereof, then Landlord may, at its option and without prejudice to any other remedy which Landlord may have on account thereof, appropriate and apply said entire Security
Deposit or so much thereof as may be necessary to compensate Landlord toward the payment of rent or other sums due Landlord under this Lease, including any amounts payable by Tenant under this Lease that are not paid when due; against all losses and
damages that Landlord has suffered or may reasonable estimate that Landlord may suffer as a result of any default by Tenant under this Lease, including any damages arising under section 1951.2 of the California Civil Code for rent due following
termination of this Lease; against any cost incurred by Landlord in connection with this Lease (including reasonable attorneys’ fees); or other sums due Landlord for the loss of damage sustained by Landlord due to such breach on the part of
Tenant. Tenant shall within ten (10) days after demand therefor restore said Security Deposit to the original sum deposited. Landlord may retain such portion of the Security Deposit without obligation for repayment as it reasonably deems
necessary to restore or clean the Premises following vacation by Tenant, for damage to the Premises caused by the removal of Tenant’s property, fixtures, or equipment, for the cost to remove Tenant’s signs or to apply to estimated damages
arising under section 1952.2 of the California Civil Code. This Security Deposit is not to be characterized as “rent” unless and until so applied in respect of a default. Tenant hereby waives its right to the return of the Security Deposit
as set forth in Civil Code section 1950.7 and acknowledges that Landlord may apply the Security Deposit to any rent in default and any other loss or damage arising out of Tenant’s default under this Lease, including but not limited to, post
termination damages, damages under Bankruptcy Code section 502(b)(6), any amounts Landlord may spend or become obligated to spend, and attorney’s fees and costs. The Security Deposit shall not bear interest, nor shall Landlord be required to
keep such sum separate from its general funds. Should Tenant comply with all of said terms and promptly pay all rent and other sums payable by Tenant under this Lease when due, and restore and clean the Premises following cation thereof, said
Security Deposit, or such unused portion of said Security Deposit, shall be returned to Tenant (or, at Landlord’s option, to the last assignee of Tenant’s interest hereunder) at the expiration of the term of the Lease and Tenant’s
vacation of the Premises, subject to any expenses that Landlord may incur as a result of Tenant’s failure to comply with any provision of this Lease. In the event Tenant fails to occupy the Premises in accordance with the terms of this Lease,
Landlord remedies shall include, without limitation thereto, retention of all sums deposited herewith or otherwise paid pursuant to this Lease. In the event of bankruptcy or other debtor creditor proceedings against Tenant, Landlord may elect to
apply such Security Deposit first to all reasonable attorneys’ fees and costs incurred by Landlord and then either to (a) the payment of rent and other sums due Landlord under this Lease for all periods prior to the filing of bankruptcy
proceedings, or (b) the payment of rent and other sums due to Landlord under this Lease for all periods after the filings of bankruptcy proceedings. 

5. USE AND COMPLIANCE WITH LAWS. 

5.1 Use. The Premises shall be used for general business office and R&D purposes and for no other use or purpose. Tenant
shall comply with all present and future Laws relating to Tenant’s use or occupancy of the Premises. Tenant shall make any repairs, alterations or improvements as required to comply with all such Laws to the extent that such Laws relate to or
are triggered by (i) Tenant’s particular use of the Premises, (ii) any Alterations. Tenant shall observe the “Building Rules” (as defined in Section 27 - Rules and Regulations). Landlord shall enforce such
Rules and Regulations uniformly and in a non-discriminatory manner. Tenant shall not do, bring, keep or sell anything in or about the Premises that is prohibited by, or that will cause a cancellation of or an
increase in the existing premium for, any insurance policy covering the Property or any part thereof, Tenant shall not permit the Premises to be occupied or used in any manner that will constitute waste or a nuisance, or disturb the quiet enjoyment
of other tenants in the Building. Without limiting the foregoing, the Premises shall not be used for educational activities, practice of medicine or any of the healing arts, providing social services, or for any governmental use (including embassy
or consulate use). Tenant shall not, without the prior consent of Landlord, (i) bring into the Building or the Premises anything that may cause substantial noise, odor or vibration, overload the floors in the Premises or the Building or any of
the heating, ventilating and air-conditioning (the “HVAC”), mechanical, elevator (if applicable), 

  
 12 

 
plumbing, electrical, fire protection, life safety, security or other systems in the Building (the “Building Systems”), or jeopardize the structural integrity of the Building or
any part thereof; (ii) connect to the utility systems of the Building any apparatus, machinery or other equipment other than typical office equipment; or (iii) connect (directly, or indirectly through use of intermediate devices,
electrified strip molding, or otherwise) to any electrical circuit in the Premises any equipment or other load with aggregate connected load requirements in excess of 20 amps. 

(a) Permitted Encumbrances. Tenant acknowledges that this Lease is subordinate and subject to all liens, encumbrances,
deeds of trust, reservations, restrictions and other matters affecting the Property or the Premises (“Permitted Encumbrances”), and any law, regulation, rule, order or ordinance of any governmental entity applicable to the Premises
or the use or occupancy thereof; in effect on the execution of this Lease or thereafter promulgated. 
 (b) Suitability of
Premises. Tenant acknowledges that except as otherwise expressly set forth herein neither Landlord nor any of representatives has made any representation or warranty with respect to the Premises, the common area or the Property, or with respect
to the suitability or fitness of the same for the conduct of Tenant’s business or for any other purpose. Other than Tenant Improvements to be completed by Landlord, Tenant acknowledges that the Premises are being leased in their current As-Is condition. Other than Punch List items, latent defects and any items covered by warranty, the taking of possession of the Premises by Tenant shall conclusively establish that the Premises and the Property were
in satisfactory condition for Tenant to conduct business at such time. Notwithstanding the above, Landlord represents, that as of the Lease Commencement Date the Premises shall be in compliance with all applicable codes. 

5.2 Hazardous Materials. 
  

	 	1.	 Use of Hazardous Materials. Tenant shall not cause or permit any Hazardous Materials, as defined below,
to be generated, brought onto, used, stored, or disposed of in or about the Premises or the Property by Tenant or its agents, employees, contractors, subtenants, assignees, licensees, transferees or representatives (collectively,
“Representatives”) or its guests, customers, or visitors (collectively, “Visitors”) except for reasonable quantities of substances that are normally associated with general office duties (such as copier fluids and
cleaning supplies) or which are otherwise approved by Landlord. Tenant shall use, store, and dispose of all such Hazardous Materials in strict compliance with all Environmental Requirements (as defined below), and shall comply at all times during
the Lease Term with all Environmental Requirements. Tenant shall indemnify, defend and hold harmless Landlord and its members, officers, and directors, and its or their partners, members, directors, officers, shareholders, employees and agents from
all Environmental Losses and all other claims, actions, losses, damages, liabilities, costs and expenses of every kind, including reasonable attorneys’, experts’ and consultants’ fees and costs, incurred at any time and arising from
or in connection with Tenant’s, Tenant’s Representatives’ or its Visitors’ use, handling, storage, spilling, disposal or else of Hazardous Materials at or about the Premises or Tenant’s, Tenant’s Representatives’
or Visitors’ failure to comply in full with all Environmental Requirements with respect to the Premises. Landlord hereby represents and warrants to Tenant that as of the date of this Lease, no Hazardous Material are present in the Premises.

 (a) Definitions, “Hazardous Materials” shall mean any substance: (A) that
now or in the future is regulated or governed by, requires investigation or remediation under, or is defined as a hazardous waste, hazardous substance, pollutant or contaminant under any governmental statute, code, ordinance, regulation, rule or
order, and any amendment thereto, including for example only the Comprehensive Environmental Response Compensation and Liability Act, 42 U.S.C. §9601 et seq., and the Resource Conservation and Recovery Act, 42 U.S.C. §6901 et seq., or
(B) that is toxic, explosive, corrosive, flammable, radioactive, carcinogenic, dangerous or otherwise hazardous, including gasoline, diesel fuel, petroleum hydrocarbons, polychlorinated biphenyls (PCBs), asbestos, radon and urea formaldehyde
foam 

  
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insulation. “Environmental Requirements” shall mean all present and future Laws, orders, permits, licenses, approvals, authorizations and other requirements of any kind
applicable to Hazardous Materials. “Environmental Losses” shall mean all costs and expenses of any kind, damages, including foreseeable and unforeseeable consequential damages, fines and penalties incurred in connection with any
violation of and compliance with Environmental Requirements and all losses of any kind attributable to the diminution of value, loss of use or adverse effects on marketability or use of any portion of the Premises or Property. 

(b) Landlord warrants and represents that as of the date hereof the Premises and the Building are incompliance with all
Environmental Requirements and that as of the date hereof there are no Hazardous Materials in the Premises or in the Building. Landlord shall indemnify, defend and hold harmless Tenant and its members, officers, and directors, from all Environmental
Losses and all other claims, actions, losses, damages, liabilities, costs and expanses of every kind including reasonable attorneys’, experts’ consultants’ fees and costs, incurred at any time and arising from or in connection with
Landlord’s warrant and representation as set forth in this paragraph. 
 6. ALTERATIONS. 

6.1 Alternations by Tenant. Other than Tenant Improvements to be constructed by Landlord, Tenant shall not make any alterations,
improvements or changes to the Premises (including installation of any security system or telephone or data communication wiring or cabling) (the “Alterations”), without Landlord’s prior written consent which consent shall not
unreasonably withheld nor delayed. Landlord may withhold its consent to such Alterations in its sole discretion if the proposed Alterations would adversely affect the structure or safety of the Building or its electrical, plumbing, HVAC, mechanical
or safety systems, or if such proposed Alterations would create an obligation on Landlord’s part to make modifications to the Property (in order, for example, to comply with laws such as the ADA mandating Building accessibility for persons with
disabilities); in all other circumstances, Landlord agrees not to unreasonably withhold or delay its consent to proposed Alterations. Any such Alterations shall be completed by Tenant at Tenant’s sole cost and expense: (i) with due
diligence, in a good and workmanlike manner, using new materials; (ii) in compliance with plans and specifications approved by Landlord; (iii) in compliance with the construction rules and regulations promulgated by Landlord from time to
time; (iv) in accordance with all applicable Laws (including all work, whether structural or nonstructural, inside or outside the Premises, required to comply fully with all applicable Laws and necessitated by Tenant’s work); and
(v) subject to all conditions which Landlord may in Landlord’s reasonable discretion impose. Such conditions may include requirements for Tenant to: (i) provide additional insurance (from Tenant or Tenant’s contractors,
subcontractors or design professionals); (ii) use contractors or subcontractors designated by Landlord for electrical work and work on the fire alarm systems located within the Demised Premises; (iii) remove all or part of the Alterations prior
to or upon expiration or termination of the Term, as designated by Landlord at the time approval is given to the making of same; and (iv) have all work performed outside of Business Hours. If any work outside the Premises, or any work on or
adjustment to any of the Building Systems, is required in connection with or as a result of Tenant’s work, such work shall be performed at Tenant’s expense by contractors approved by Landlord. Landlord’s right to review and approve
(or withhold approval of) Tenant’s plans, drawings, specifications, contractor(s) and other aspects of construction work proposed by Tenant is intended solely to protect Landlord, the Property and Landlord’s interests. No approval or
consent by Landlord shall be deemed or construed to be a representation or warranty by Landlord as to the adequacy, sufficiency, fitness or suitability thereof or compliance thereof with applicable Laws or other requirements. Except as otherwise
provided in Landlord’s consent, all Alterations shall upon installation become part of the realty and be the property of Landlord. Notwithstanding the foregoing, in no event shall Tenant be required to obtain Landlord’s consent prior to
the making of any cosmetic or other non-structural Alterations, improvements or changes costing less than $25,000.00 provided that such cosmetic or other non-structural
Alterations, improvements or changes do not affect other tenants of the Building or the Building systems. Notwithstanding any contrary provisions herein, Tenant shall not have the obligation to restore the Tenant Improvements as shown in the
attached Exhibit A at the termination of the Lease. Additionally, Tenant may elect to add the additional private huddle rooms at Tenant’s sole expense in accordance with all applicable Laws. Should Tenant elect to add these additional private
huddle rooms, Landlord hereby grants approval for such improvements and Tenant shall not have the obligation to restore any form of these additional leasehold improvements at the termination of the Lease. At the expiration or early termination of
the Lease, he Landlord agrees to accept the Premises in broom-clean and in their original condition (other than the Tenant Improvements or the additional offices), except for reasonable wear and tear, damage from casualty or condemnation and any
changes resulting from approved Alterations. Notwithstanding the foregoing, at any time during the Term or upon expiry of the Term, Tenant shall have the right to remove any or all of its trade fixtures provided Tenant shall be responsible to repair
any damage caused by such removal, reasonable wear and tear excepted. 

  
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 6.2 Landlord’s Approval for Alterations. Before making any
Alterations for which approval is required, Tenant shall submit to Landlord for Landlord’s prior approval reasonably detailed final plans and specifications prepared by a licensed architect or engineer, a copy of the construction contract,
including the name of the contractor and all subcontractors proposed by Tenant to make the Alterations and a copy of the contractor’s license. Tenant shall reimburse Landlord upon demand for any third party expenses reasonably incurred
by Landlord in connection with any Alterations made by Tenant, including reasonable fees charged by Landlord’s contractors or consultants to review plans and specifications prepared by Tenant and to update the existing as-built plans and specifications of the Building to reflect the Alterations. Tenant shall obtain all applicable permits, authorizations and governmental approvals and deliver copies of the same to Landlord before
commencement of any such Alterations. 
 6.3 Liens. Tenant shall keep the Premises and the Property free and clear of all liens
arising out of any work performed, materials furnished or obligations incurred by Tenant. If any such lien attaches to the Premises or the Property, and Tenant does not cause the same to be released by payment, bonding or otherwise within ten
(10) business days after the attachment thereof, Landlord shall have the right but not the obligation to cause the same to be released, and any sums expended by Landlord in connection therewith shall be payable by Tenant on demand with interest
thereon from the date of expenditure by Landlord at the Interest Rate (as defined in Section 16.2—Interest). Tenant shall give Landlord at least ten (10) days’ notice prior to the commencement of any Alterations and
cooperate with Landlord in posting and maintaining notices of non-responsibility in connection therewith. 

6.4 Trade Fixtures. Subject to the provisions of Section 5—Use and Compliance with Laws and the foregoing provisions
of this Section, Tenant may install and maintain furnishings, equipment, movable partitions, business equipment and other trade fixtures (the “Trade Fixtures”) in the Premises, provided that the Trade Fixtures do not become an
integral part of the Premises or the Building. Tenant shall promptly repair any damage to the Premises or the Building caused by any installation or removal of such Trade Fixtures. 

7. MAINTENANCE AND REPAIRS. 

7.1 Tenant’s Obligations. By taking possession of the Premises Tenant agrees that the Premises are then in a good
and tenantable condition. During the Term, Tenant at Tenant’s expense but under the direction of Landlord, shall repair and maintain the Promises, including the interior walls, floor coverings, ceiling (ceiling tiles and grid), Landlord’s
Work, Alterations, fire extinguishers, outlets and fixtures, and any appliances (including dishwashers, hot water heaters, garbage disposals and any Dedicated HVAC Unit, as defined in Section 9 below) in the Premises, in a good working
condition, and keep the Premises in a clean, safe and orderly condition. 
 7.2 Landlord’s Obligations. Subject to
Section 9 below, Landlord shall maintain or cause to be maintained in reasonably good order, condition and repair, the structural portions of the roof, foundations, floors and exterior walls of the Building, the Building Systems, the HVAC unit
for the Building, and Premises, if applicable, and the public and common areas of the Property, such as elevators (if any), stairs, corridors and restrooms; provided, however, that Tenant shall pay the cost of repairs for damage occasioned by
Tenant’s use of the Premises or the Property or any act or omission of Tenant or Tenant’s Representatives or Visitors. Landlord shall be under no obligation to inspect the Premises. Tenant shall promptly report in writing to Landlord any
defective condition known to Tenant which Landlord is required to repair. As a material part of the consideration for this Lease, Tenant hereby waives any benefits of any applicable existing or future Law, including the provisions of California
Civil Code sections 1932 (1), 1941 and 1942, that allows a tenant to make repairs at its landlord’s expense. Landlord represents that as of the Commencement Date all structural elements and systems of the Building, including but not limited to
the HVAC, mechanical, electrical and plumbing systems are in good working order 
 7.3 Landlord’s Rights. Landlord
hereby reserves the right, at any time and from time to time, and without constituting an eviction, constructive or otherwise, or entitling Tenant to any abatement of’ rent or to terminate this Lease or otherwise releasing Tenant from any of
Tenant’s obligations under this Lease, provided, except in the case of emergency, that such actions by Landlord do not materially interfere with Tenant’s ability to operate and conduct its business on the Premises: 

  
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 (e) To make alterations, additions, repairs, improvements to or in or to
decrease the size of area of, all or any part of the Building, the fixtures and equipment therein, and the Building Systems; 

(f) To change the Building’s name; 

(g) To install and maintain any and all signs on the exterior and interior of the Building; 

(h) To reduce, increase, enclose or otherwise change at any time and from time to time the size, number, location, lay-out and nature of the common areas and other tenancies and premises in the Property and to create additional rentable areas through use or enclosure of common areas (in which event Tenant’s Share shall be
adjusted); and 
 7.4 If any governmental authority promulgates or revises any Law or imposes mandatory or voluntary controls or guidelines
on Landlord or the Property relating to the use or conservation of energy or utilities or the reduction of automobile or other emissions or reduction or management of traffic or parking on the Property (collectively “Controls”), to
comply with such Controls, whether mandatory or voluntary, or make any alterations to the Property related thereto. 
 8.
TENANT’S TAXES. “Tenant’s Taxes” shall mean (a) all taxes, assessments, license fees and other governmental charges or impositions levied or assessed against or with respect to
Tenant’s personal property or Trade Fixtures in the Premises, whether any such imposition is levied directly against Tenant or levied against Landlord or the Property, (b) all rental, excise, sales or transaction privilege taxes arising
out of this Lease (excluding, however, state and federal personal or corporate income taxes measured by the income of Landlord from all sources) imposed by any taxing authority upon Landlord or upon Landlord’s receipt of any rent payable by
Tenant pursuant to the terms of this Lease (the “Rental Tax”), (c) any Taxes attributable to the value or cost of Tenant’s (i) personal property, (ii) Trade Fixtures, and/or (iii) Alterations (to the extent that
the cost or value of such other Alterations made in or to the Premises or the Building by or for Tenant exceeds the cost or value of a building-standard build-out, as determined by Landlord, but regardless of
whether title to those improvements is vested in Tenant or Landlord), and (d) all Taxes separately allocable to the Premises. Tenant shall pay any Rental Tax to Landlord in addition to and at the same time as Base Rent is payable under this
Lease, and shall pay all other Tenant’s Taxes before delinquency (and, at Landlord’s request, shall furnish Landlord satisfactory evidence thereof). If Landlord pays Tenant’s Taxes or any portion thereof, Tenant shall reimburse
Landlord within ten (10) business days after notice for the amount of such payment, and if payment is not made within said ten (10) business day period then together with interest at the Interest Rate from the date of Landlord’s
notice to the date of Tenant’s reimbursement. 
 9. UTILITIES AND SERVICES. 

9.1 Description of Services. Subject to the Controls (as defined in Section 7.3(e) above), Landlord shall furnish to the Premises
reasonable amounts of electricity, water, HVAC, and janitorial service. Landlord shall also furnish normal fluorescent tube replacement, window washing, elevator service (if applicable), and common area toilet room supplies. Landlord shall furnish
HVAC during the Business Hours specified in the Basic Lease Information only (“Business Hours”). As used in this Lease, the term “Business Days” means weekdays except public holidays. Landlord shall provide trash
removal service based on standard and reasonable needs. Any additional utilities or services that Landlord may agree to provide (including lamp or tube replacement for other than building standard lighting fixtures and electricity for server room
,and HVAC related to server room shall be at Tenant’s sole expense. 
 9.2 Payment for Additional Utilities and Services.

 (a) Upon request by Tenant in accordance with the procedures established by Landlord from time to time for furnishing HVAC
service to any portion of the Premises not separately sub-metered at times other than Business Hours on Business Days, Landlord shall furnish such service to Tenant and Tenant shall pay for such services on an
hourly basis at the then prevailing rate established for the 

  
 16 

 
Building by Landlord (currently $60.00 per hour). If such extended service is not a continuation of that furnished during regular Business Hours as described above, Landlord may require that
Tenant pay for a minimum of three (3) hours of such service 
 (b) If the temperature otherwise maintained in any
portion of the Premises by the HVAC systems of the Building is affected as a result of (i) any lights, machines or equipment used by Tenant in the Premises, or (ii) the occupancy of the Premises by more than one person per 150 square feet
of rentable area, then Landlord shall have the right to install any machinery or equipment reasonably necessary to restore the temperature, including modifications to the standard air-conditioning equipment.
The cost of any such equipment and modifications, including the cost of installation and any additional cost of operation and maintenance of the same, shall be paid by Tenant to Landlord upon demand. 

(k) If Tenant’s usage of electricity exceeds the Building’s standard electrical usage for similar tenants (including
server rooms) Landlord may determine the amount of such excess use by any reasonable means (including the installation by Landlord but at Tenant’s expense of a separate meter or other measuring device) and charge Tenant for the cost of such
excess usage. In addition, Landlord may impose a reasonable charge for the use of any additional or unusual janitorial services or trash removal required by Tenant because of any unusual Tenant Improvements or Alterations, the carelessness of
Tenant, excessiveness of Tenant’s requirements, or the nature of Tenant’s business (including hours of operation). 

(l) If there is any HVAC or other cooling system located in the Premises that is dedicated to Tenant’s computers or other
equipment (such dedicated system is referred to in this Lease as a “Dedicated HVAC Unit”), Landlord may determine the amount of gas, electricity or other utility costs attributable to such Dedicated HVAC Unit by any reasonable means
(including the installation by Landlord but at Tenant’s expense of a separate meter or other measuring devise) and charge Tenant for such costs. 

9.3 Interruption of Services. In the event of an interruption in or failure or inability to provide any services or utilities to the
Premises or Building for any reason (a “Service Failure”), such Service Failure shall not impose upon Landlord any liability whatsoever, constitute an eviction of Tenant, constructive or otherwise, entitle Tenant to an abatement of
rent except as otherwise provided below or to terminate this Lease or otherwise release Tenant from any of Tenant’s obligations under this Lease, provided that such Service Failure does not materially interfere with Tenant’s ability to
conduct its business on the Premises. “Materially interfere” shall mean for purposes herein shall mean Tenant is unable to conduct its business for forty five (45) or more consecutive calendar days at the Premises. Service
Failure as a result of Force Majeure, Casualty, and/or Tenant’s fault shall never constitute a Material Interference, In the event that Tenant is unable to conduct its business for forty five (45) or more consecutive calendar days
at the Premises and notwithstanding any contrary terms herein, Tenant shall be permitted to terminate this Lease without penalty or costs. Further, whenever Tenant is being prevented from the free, uninterrupted and unimpeded use, access and
enjoyment of the entire Premises and Tenant is unable to conduct business within the entire Premises, or the Common Areas which are adjacent to the Demised Premises and such interruption continues for more than
seventy-two (72) consecutive hours, as a result of (a) Landlord’s failure to observe or perform any obligation on Landlord’s part to be observed or performed under the Lease, (b) any
gross negligence or willful omission by Landlord, its agents, employees or contractors, (c) Landlord’s making any repairs in the Demised Premises or the Building, (d) Landlord’s entry into the Leased Premises, or
(e) any other cause within the control of Landlord, then and in each and all such cases, provided such cause is not due to the negligence of Tenant, its agents, employees, contractors, invitees, or principals, all Rent shall be equitably
abated, and shall continue until full use of the Leased Premises is restored to Tenant. 
 9.4 Utilities and Services Furnished by
Tenant. Except as provided in Sections 9.1 and 9.2 or in the Construction Rider (if any), Tenant shall be solely responsible for the furnishing and direct payment (including, without limitation, hook-up
and connection charges) of all other utilities which are separately metered or separately charged (including, and limited to telephone, cable television, satellite television, DSL, and any other interact access and any other special utility
requirements of Tenant if available), if any, to the Premises or to Tenant and shall make such payments to the respective utility companies prior to the delinquency. 

9.5 Utility Providers. Landlord may, in Landlord’s sole and absolute discretion, at any time and from time to time, contract, or
require Tenant to contract, for utility services (including generation, transmission, 

  
 17 

 
or delivery of the utility service) with a utility service provider of Landlord’s choosing. Tenant shall fully cooperate with Landlord and any utility service provider selected by Landlord.
Tenant shall permit Landlord and the utility service provider to have reasonable access to the Premises and the utility equipment serving the Premises, including lines, feeders, risers, wiring, pipes, and meters. Tenant shall either pay or reimburse
Landlord for all costs associated with any change of utility service, including the cost of any new utility equipment, within ten (10) days after Landlord’s written demand for payment or reimbursement. Under no circumstances shall Landlord
be responsible or liable for any loss, damage, or expense that Tenant may incur as a result of any change of utility service, including any change that makes the utility supplied less suitable for Tenant’s needs, or for any failure,
interference, or defect in any utility service. No such change, failure, interference, or defect shall constitute an actual or constructive eviction of Tenant, or entitle Tenant to any abatement of rent, or relieve Tenant from any of Tenant’s
obligations under this Lease. 
 9.6 The Landlord, at the sole cost and expense of Tenant, shall install a
sub-meter or sub-meters to measure the electricity used and consumed by the Tenant in the Tenant’s server room within the Premises, including the electricity
consumed and used by all air conditioning and ventilation systems, lighting and computer equipment serving or located within the server room. The cost of such electricity shall equal the KW and KWh rates charged to the Landlord by the utility
company (including the transport company and the supplying company) serving the Building as applied to the monthly sub-meter(s) reading (“Electricity Charge”). The Tenant shall pay to the Landlord
the cost of any charge incurred by the Landlord for the reading of the sub-meter(s) and for the calculation of the electricity charge. All of the charges set forth in this paragraph shall be deemed to be
Additional Rent. 
 10. EXCULPATION AND INDEMNIFICATION. 

10.1 Limitation on Liability. Landlord shall not be liable to Tenant for any loss, injury or other damage to any person or property
(including Tenant or Tenant’s property) in or about the Premises or the Property from any cause (including defects in the Property or in any equipment in the Property; fire, explosion or other casualty; bursting, rupture, leakage or overflow of
any plumbing or other pipes or lines, sprinklers, tanks, drains, drinking fountains or washstands in, above, or about the Premises or the Property; or acts of other tenants in the Property) other than Landlord’s negligent or willful acts or
omissions. Tenant hereby waives all claims against Landlord for such damage and the cost and expense of defending against claims relating to such damage, except that Landlord shall indemnify, defend (with counsel reasonably satisfactory to Tenant)
and hold Tenant harmless from and against any claims, actions, liabilities, damages, costs or expenses, including all attorneys’ fees and costs incurred in defending against the same (the “Claims”) for such damages, to the
extent the same are (x) caused by the willful or negligent acts or omissions of Landlord or its authorized representatives and (y) are not covered by insurance actually carried (or required to be carried) by Tenant. 

10.2 Tenant’s and Landlord’s Indemnity. Tenant shall indemnify, defend and hold Landlord and its
partners or members and its or their partners, members, directors, officers, shareholders, employees and agents harmless from and against Claims arising from (a) the acts or omissions of Tenant or Tenant’s Representatives or Visitors in or
about the Property, or (b) any construction or other work undertaken by Tenant on the Premises (including any design defects), or (c) any breach or default under this Lease by Tenant, or (d) any accident, injury or damage, howsoever
and by whomsoever caused, to any person or property, occurring in or about the Premises during the Term arising proximately from the actions, negligence and/or omissions of Tenant; excepting only such Claims for any accident, injury or damage to the
extent they are caused by the negligent or willful acts or omissions of Landlord or its authorized representatives. Landlord shall indemnify and save harmless Tenant from and against any and all liability, liens, claims, demands, damages, expenses,
fees, costs, fines, penalties, suits, proceedings, actions and causes of action of any and every kind and nature arising or growing out of or in any way connected with Landlord’s use, occupancy, management or control of the Common Areas or
Landlord’s operations, conduct or activities in the Building, unless due to the negligence or willful acts or omissions of Tenant, its agents or employees. 

10.3 Survival. The obligations of the parties under this Section 10 shall survive the expiration or termination of this Lease.

  
 18 

 11. INSURANCE. 

11.1 Tenant’s Insurance. 
  

	 	1.	 Tenant shall maintain in full force throughout the Term, commercial general liability insurance providing
coverage on an occurrence form basis with limits of not less than One Million and No/100ths Dollars ($1,000,000.00) each occurrence for bodily injury and property damage combined, Two Million and No/100ths Dollars ($2,000,000.00) annual general
aggregate, and Two Million and No/100ths Dollars ($2,000,000.00) products and completed operations annual aggregate. Tenant’s liability insurance policy or policies shall: (i) include premises and operations liability coverage, products
and completed operations liability coverage, broad form property damage coverage, blanket contractual liability coverage including, to the maximum extent possible, coverage for the indemnification obligations of Tenant under this Lease, and personal
and advertising injury coverage; (ii) provide that the insurance company has the duty to defend all insureds under the policy; (iii) provide that defense costs are paid in addition to and do not deplete any of the policy limits;
(iv) cover liabilities arising out of or incurred in connection with Tenant’s use or occupancy of the Premises or the Property; and (v) extend coverage to cover liability for the actions of Tenant’s Representatives and Visitors.

 (a) Tenant shall at all times maintain in effect with respect to any Alterations and Tenant’s Trade
Fixtures and personal property, commercial property insurance providing coverage, at a minimum, for “special form” perils, to the extent of one hundred percent (100%) of the full replacement cost of covered property, and for business
income coverage for a minimum of twelve (12) months. Tenant may carry such insurance under a blanket policy, provided that such policy provides equivalent coverage to a separate policy. During the Term, the proceeds from any such policies of
insurance shall be used for the repair or replacement of the Alterations, Trade Fixtures and personal property so insured. Landlord shall be provided coverage under such insurance to the extent of its insurable interest and, if requested by
Landlord, both Landlord and Tenant shall sign all documents reasonably necessary or proper in connection with the settlement of any claim or loss under such Insurance. Landlord will have no obligation to carry insurance on any Alterations or on
Tenant’s Trade Fixtures or personal property. 
 (b) Each policy of insurance required under this Section shall:
(i) be in a form, and written by an insurer, reasonably acceptable to Landlord, (ii) be maintained at Tenant’s sole cost and expense, and (iii) require at least thirty (30) days’ written notice to Landlord prior to any
cancellation or nonrenewal. Insurance companies issuing such policies shall have rating classifications of “A” or better and financial size category ratings of “X” or better according to the latest edition of the A.M. Best Key
Rating Guide. All insurance companies issuing such policies shall be licensed to do business in the state where the Property is located. Tenant shall provide to Landlord evidence that the insurance required to be carried by Tenant pursuant to this
Section, including any endorsement effecting the additional insured status, is in full force and effect and that premiums therefor have been paid. Such evidence shall, at Landlord’s discretion, be in either form of an ACORD Form 27 (Certificate
of Insurance) (or its equivalent) or a certified copy of the original policy, in either event providing that the insurer will provide Landlord with at least thirty (30) days prior written notice before any termination or amendment to the
policy. 
 (c) Tenant shall increase the amounts of insurance as may be reasonably required by any Mortgagee, and, not more
frequently than once every three (3) years, if such Mortgagee determines the amount of insurance then required under this Lease is not adequate. Any limits set forth in this Lease on the amount or type of coverage required by Tenant’s
insurance shall not limit the liability of Tenant under this Lease. 
 (d) Each policy of liability insurance required by
this Section shall: (i) contain a cross liability endorsement or separation of insureds clause; (ii) provide that any waiver of subrogation rights or release prior to a loss does not void coverage; (iii) provide that it is primary to
and not contributing with, 

  
 19 

 
any policy of insurance carried by Landlord covering the same loss; (iv) provide that any failure to comply with the reporting provisions shall not affect coverage provided to Landlord, its
partners, property managers and Mortgagees; and (v) name Landlord, its partners, Landlord, the property manager, and such other parties in interest as Landlord may from time to time reasonably designate to Tenant in writing, as additional
insureds. Such additional insureds shall be provided the same extent of coverage as provided to Tenant under such policies. All endorsements effecting such additional insured status shall be acceptable to Landlord and shall be at least as broad as
additional insured endorsement form number CG 20 26 11 85 promulgated by the Insurance Services Office. 
 (e)
Prior to occupancy of the Premises by Tenant, and not less than thirty (30) days prior to expiration of any policy thereafter, Tenant shall furnish to Landlord a certificate of insurance or certified policy of insurance reflecting that the
insurance required by this Section is in force, accompanied by an endorsement showing the required additional insureds satisfactory to Landlord in substance and form. Notwithstanding the requirements of this paragraph, Tenant shall at
Landlord’s request provide to Landlord a certified copy of each insurance policy required to be in force at any time pursuant to the requirements of this Lease or its Exhibits. 

11.2 Landlord’s Insurance. During the Term, Landlord shall maintain in effect insurance on the Building against
“special form” perils (to the extent such coverages are available), with responsible insurers, insuring the Building and the Tenant Improvements in an amount equal to one hundred percent (100%) of the replacement cost thereof, excluding
land, foundations, footings and underground installations. Landlord may, but shall not be obligated to, carry insurance against additional perils and/or in greater amounts. 

11.3 Property Insurance—Waiver of Subrogation. Landlord and Tenant each hereby waive any right of recovery against the other and
the partners, members, shareholders, officers, directors and authorized representatives of the other for any loss or damage that is covered by any policy of property insurance maintained by either party (or required by this Lease to be maintained)
with respect to the Premises or the Property or any operation therein. If any such policy of insurance relating to this Lease or to the Premises or the Property does not permit the foregoing waiver or if the coverage under any such policy would be
invalidated as a result of such waiver, the party maintaining such policy shall obtain from the insurer under such policy a waiver of all right of recovery by way of subrogation against either party in connection with any claim, loss or
damage covered by such policy. 
 12. DAMAGE OR DESTRUCTION. 

12.1 Landlord’s Duty to Repair. 
  

	 	1.	 If all or a substantial part of the Premises are rendered untenantable or inaccessible by damage to all or any
part of the Property from fire or other casualty then, unless either party is entitled to and elects to terminate this Lease pursuant to Sections 12.2 - Landlord’s Right to Terminate and 12.3—Tenant’s Right to Terminate,
Landlord shall, at its expense, use reasonable efforts to repair and restore the Premises and/or the Property, as the case may be, to substantially their former condition to the extent permitted by then applicable Laws; provided, however, that in no
event shall Landlord have any obligation for repair or restoration for any of Tenant’s personal property, Trade Fixtures or Alterations. 

(a) If Landlord is required or elects to repair damage to the Premises and/or the Property, this Lease shall continue in
effect, but Tenant’s Base Rent and additional Rent from the date of the casualty through the date of substantial completion of the repair shall be abated with regard to any portion of the Premises that Tenant is prevented from using by reason
of such damage or its repair. In no event shall Landlord be liable to Tenant by reason of any injury to or interference with Tenant’s business or property arising from fire or other casualty or by reason of any repairs to any part of the
Property necessitated by such casualty. 

  
 20 

 12.2 Landlord’s Right to Terminate. Landlord may elect to
terminate this Lease following damage by fire or other casualty under the following circumstances: 
  

	 	1.	 If, in the reasonable judgment of Landlord, the Premises and the Property cannot be substantially repaired and
restored under applicable Laws within one hundred twenty (120) days from the receipt of insurance proceeds; 

(g) If, in the reasonable judgment of Landlord, adequate proceeds are not, for any reason, made available to Landlord from
Landlord’s insurance policies (and/or from Landlord’s funds made available for such purpose, at Landlord’s sole option) to make the required repairs; 

(h) If the Building is damaged or destroyed to the extent that, in the reasonable judgment of Landlord, the cost to repair and
restore the Building would exceed twenty-five percent (25%) of the full replacement cost of the Building, whether or not the Premises are at all damaged or destroyed; or 

(i) If the fire or other casualty occurs during the last year of the Term. 

If any of the circumstances described in subparagraphs (a), (b), (c) or (d) of this Section 12.2 occur or arise, Landlord shall notify Tenant in
writing of that fact within one hundred and twenty (120) days after the date of the casualty and in such notice Landlord shall also advise Tenant whether Landlord has elected to terminate this Lease as provided above. 

12.3 Tenant’s Right to Terminate. If all or a substantial part of the Premises are rendered untenantable or
inaccessible by damage to all or any part of the Property from fire or other casualty, then Tenant may elect to terminate this Lease under the following circumstances: 
  

	 	1.	 Where Landlord fails to commence the required repair within sixty (60) days after the receipt of insurance
proceeds or fails to complete any repair within one hundred twenty (120) days after the receipt of insurance proceeds, in which event Tenant may elect to terminate this Lease upon notice to Landlord given within ten (10) days after such
sixty (60)-day period, or One Hundred Twenty (120) day period, as the case may be; or 

(a) In the circumstance described in Section 12.2(a) above; in which event Tenant may elect to terminate this Lease by
giving Landlord notice of such election to terminate within thirty (30) days after Landlord’s notice to Tenant pursuant to Section 12.2—Landlord’s Right to Terminate. 

Notwithstanding anything contained in this Section 12 of the Lease to the contrary, the Tenant shall have no right to terminate this Lease if the Tenant
or its agents caused the damage or destruction or if the Tenant is in default of any of the material terms and conditions of this Lease, beyond any applicable grace or cure period. 

12.4 Waiver. Landlord and Tenant each hereby waive the provisions of California Civil Code sections 1932(2), 1933(4) and any other
applicable existing or future Law permitting the termination of a lease agreement in the event of damage or destruction under any circumstances other than as provided in Sections 12.2—Landlord’s Right to Terminate and
12.3—Tenant’s Right to Terminate. 
 13. CONDEMNATION. 

13.1 Definitions. 
  

	 	1.	 “Award shall mean all compensation, sums, or anything of value awarded, paid or received on a total
or partial Condemnation. 

 (a) “Condemnation” shall mean (i) a permanent taking (or
a temporary taking for a period extending beyond the end of the Term) pursuant to the exercise of the power of condemnation 

  
 21 

 
or eminent domain by any public or quasi-public authority, private corporation or individual having such power (“Condemner”), whether by legal proceedings or otherwise, or
(ii) a voluntary sale or transfer by Landlord to any such authority, either under threat of condemnation or while legal proceedings for condemnation are pending. 

(b) “Date of Condemnation” shall mean the earlier of the date that title to the property taken
is vested in the Condemner or the date the Condemner has the right to possession of the property being condemned. 
 13.2 Effect on
Lease. 
  

	 	1.	 If the Premises are totally taken by Condemnation, this Lease shall terminate as of the Date of Condemnation.
If a portion but not all of the Premises is taken by Condemnation, this Lease shall remain in effect; provided, however, that if the portion of the Premises remaining after the Condemnation will be unsuitable for Tenant’s continued use, then
upon notice to Landlord within thirty (30) days after Landlord notifies Tenant of the Condemnation, Tenant may terminate this Lease effective as of the Date of Condemnation. 

(a) If twenty-five percent (25%) or more of the Land or of the Parking Facility or of the floor area in the Building is taken
by Condemnation, or if as a result of any Condemnation the Building is no longer reasonably suitable for use as an office building, whether or not any portion of the Premises is taken, Landlord may elect to terminate this Lease, effective as of the
Date of Condemnation, by notice to Tenant within thirty (30) days after the Date of Condemnation. 
 (b) If all or a
portion of the Premises is temporarily taken by a Condemner for a period not extending beyond the end of the Term, this Lease shall remain in full force and effect. 

13.3 Restoration. If this Lease is not terminated as provided in Section 13.2—Effect on Lease, Landlord, at its
expense, shall diligently proceed to repair and restore the Premises to substantially its former condition (to the extent permitted by then applicable Laws) and/or repair and restore the Building to an architecturally complete office building;
provided, however, that Landlord’s obligations to so repair and restore shall be limited to the amount of any Award received by Landlord and not required to be paid to any Mortgagee (as defined in Section 20.5 below). In no event shall
Landlord have any obligation to repair or replace any improvements in the Premises beyond the amount of any Award received by Landlord for such repair or to repair or replace any of Tenant’s personal property, Trade Fixtures, or Alterations.

 13.4 Abatement and Reduction of Rent. If any portion of the Premises is taken in a Condemnation or is rendered permanently
untenantable by repairs necessitated by the Condemnation, and this Lease is not terminated, the Base Rent and Additional Rent payable under this Lease shall be proportionally reduced as of the Date of Condemnation based upon the percentage of
rentable square feet in the Premises so taken or rendered permanently untenantable. In addition, if this Lease remains in effect following a Condemnation and Landlord proceeds to repair and restore the Premises, the Base Rent and Additional Rent
payable under this Lease shall be abated during the period of such repair or restoration to the extent such repairs prevent Tenant’s use of the Premises. 

13.5 Awards. Any Award made shall be paid to Landlord, and Tenant hereby assigns to Landlord, and waives all interest in or claim to,
any such Award, including any claim for the value of the unexpired Term; provided, however, that Tenant shall be entitled to receive, or to prosecute a separate claim for, an Award for a temporary taking of the Premises or a portion thereof by a
Condemner where this Lease is not terminated (to the extent such Award relates to the unexpired Term), or an Award or portion thereof separately designated for relocation expenses or the interruption of or damage to Tenant’s business or as
compensation for Tenant’s personal property, Trade Fixtures or Alterations. 

  
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 13.6 Waiver. Landlord and Tenant each hereby waive the provisions of California Code
of Civil Procedure section 1265.130 and any other applicable existing or future Law allowing either party to petition for a termination of this Lease upon a partial taking of the Premises and/or the Property. 

14. ASSIGNMENT AND SUBLETTING. 

14.1 Landlord’s Consent Required. Tenant shall not assign, mortgage, pledge, hypothecate or encumber this Lease or
any interest therein, or sublet or license or permit the use or occupancy of the Premises or any part thereof by or for the benefit of anyone other than Tenant, or in any other manner transfer all or any part of Tenant’s interests under this
Lease (each and all a “Transfer”), without the prior written consent of Landlord, which (subject to the other provisions of this Section 14) shall not be unreasonably withheld nor delayed. Notwithstanding any provision in this
Lease to the contrary, Tenant shall not mortgage, pledge, hypothecate or otherwise encumber all or any portion of Tenant’s interest under this Lease. For purposes of this Section 14, “Transfer” also includes: (a) if
Tenant is a partnership or limited liability company: (1) a change in ownership effected voluntarily, involuntarily, or by operation of law, within a twelve-month (12-month) period of fifty percent (50%)
or more of the partners or members or fifty (50%) percent (50%) or more of the partnership or membership interests; or (2) the dissolution of the partnership or limited liability company without its immediate reconstitution; or (b) if
Tenant is a closely held corporation (i.e., one whose stock is not publicly held and not Traded through an exchange or over the counter): (1) the sale or other transfer, within a twelve-month (12-month) period
of more than an aggregate of fifty percent (50%) of the voting shares of Tenant (other than to immediate family members by reason of gift or death); (2) the sale, mortgage, hypothecation, or pledge, within a twelve-month (12-month) period of more than an aggregate of fifty percent (50%) of the value of Tenant’s unencumbered assets; or (3) the dissolution, merger, consolidation, or other reorganization of Tenant. 

Notwithstanding anything to the contrary contained in this Lease and for the avoidance of doubt, (i) an assignment to a transferee or
purchaser of all or substantially all of the assets of or a majority of stock or membership interests of Tenant through a purchase, merger, consolidation or reorganization of Tenant by or with another entity (whether such acquisition takes the form
of an asset sale, a stock sale or a combination thereof), (ii) an assignment of the Premises to a transferee which is the resulting entity of a merger or consolidation of Tenant with another entity, or (iii) an assignment or subletting of all
or a portion of the Premises to an affiliate of Tenant (an entity which is controlled by, controls, or is under common control with, Tenant) (each, an “Affiliate”), shall not be deemed an “Assignment” or a transfer under
this Section 14. 
 14.2 Reasonable Consent. If Tenant complies with the following conditions, Landlord shall not unreasonably
withhold nor delay its consent to the subletting of the Premises or any portion thereof or the assignment of this Lease. Prior to any proposed Transfer, Tenant shall submit in writing to Landlord (i) the name and legal composition of the
proposed assignee, subtenant, user or other transferee (each a “Transferee”); (ii) the nature of the business proposed to be carried on in the Premises; (iii) a current balance sheet, income statements for the last two years
and such other reasonable financial and other information concerning the proposed Transferee as Landlord may request; and (iv) a copy of the proposed assignment, sublease or other agreement governing the proposed Transfer. Within fifteen
(15) Business Days after Landlord receives all such information it shall notify Tenant whether it approves or disapproves such Transfer. 

(a) The parties hereto agree and acknowledge that, among other circumstances for which Landlord could reasonably withhold
consent to a proposed Transfer, it shall be reasonable for Landlord to withhold consent where (i) the proposed Transferee does not intend itself to occupy the entire portion of the Premises assigned or sublet, (ii) Landlord reasonably
disapproves of the Transferee’s business operating ability or history or creditworthiness, (iii) the Transferee is a governmental agency or unit, (iv) the Transferee is an existing tenant in the Building (or another building owned or
controlled by Landlord or an affiliate of Landlord; such other buildings and the Building are hereinafter collectively referred to in this Section 14 as the “Project”) or a party with whom Landlord has negotiated to lease space
in the Project within the preceding six (6) months, (v) the proposed Transfer would violate any “exclusive” rights of any tenants in the Project, (vi) the rental and other consideration payable by the Transferee is less than that
currently being paid by tenants under new leases of comparable space in the Project, (vii) Tenant is in default under this Lease, (viii) such Transferee’s proposed use is not permitted under Section 5 — Use and Compliance
with Laws, (ix) such Transferee’s proposed use would increase the density of occupation in the Premises or use 

  
 23 

 
of the Building’s parking facilities beyond those levels permitted by law, or (x) Landlord otherwise determines that the proposed Transfer would have the effect of decreasing the value
of the Building or increasing the expenses associated with operating, maintaining and repairing the Building. 
 (b) Tenant
may assign this Lease or sublease the Leased Premises, in whole or in part, without the express written consent of Landlord, to: (i) any corporation or other entity into which or with which Tenant has merged or consolidated; (ii) any
parent, subsidiary, successor, or affiliated corporation of Tenant or (iii) any person or entity that acquires all or substantially all of the assets or operations of Tenant within the State in which the Leased Premises is located; or
(iv) any partnership of Tenant, provided Tenant or such parent corporation is a general partner. No such assignment or sublease pursuant to this subparagraph shall relieve Tenant of any liability hereunder. Any assignment or subletting which
does not satisfy the aforesaid conditions of this subparagraph shall constitute a transfer subject to the other provisions of this Article. 

Notwithstanding anything in this Lease to the contrary, provided Tenant provides written notice to the Landlord, (i) any sale or issuance
of Tenant’s stock or other ownership interest in connection with a public offering, (ii) any transfer of Tenant’s stock or other ownership among Tenant’s shareholders, members, partners, etc., or to employees of Tenant or its
affiliates, (iii) any transfer of Tenant’s stock or other ownership interest by shareholders, members, partners, etc., to family members, (iv) any trust for the benefit of family members, or any transfer of Tenant’s stock or
other ownership interest upon the death of any shareholder, member, partners, etc;, or (v) any transfer of Tenant’s stock or other ownership interest to a person or entity that acquires all or substantially all of the ownership interest of
Tenant shall in no event be deemed an assignment of this Lease, require Landlord’s consent or permit Landlord to terminate this Lease, notwithstanding that any such sale, issuance or transfer may result in a change of voting control of Tenant.

 14.3 Excess Consideration. If Landlord consents to the sublease, Landlord shall be entitled to receive as additional Rent
hereunder an amount equal to fifty percent (50%) of the amount (if any) by which the total value of (x) any consideration paid by the Transferee the excess of the rent and other consideration payable by the subtenant over the amount of Base
Rent and Additional Rent payable hereunder applicable to the subleased space, exceeds (y) the reasonable direct, out-of-pocket costs (such as, but not necessarily
limited to, reasonable brokerage commissions, tenant improvement costs, attorneys’ fees, and other cash concessions as may be typical, reasonable and appropriate under then prevailing market conditions) actually and necessarily paid by Tenant
to third parties not affiliated with Tenant to procure the assignment or sublease. 
 14.4 No Release of Tenant. No consent by
Landlord to any Transfer shall relieve Tenant of any obligation to be performed by Tenant under this Lease, whether occurring before or after such consent, assignment, subletting or other Transfer. Each Transferee shall be jointly and severally
liable with Tenant (and Tenant shall be jointly and severally liable with each Transferee) for the payment of rent (or, in the case of a sublease, rent in the amount set forth in the sublease) and for the performance of all other terms and
provisions of this Lease. The consent by Landlord to any Transfer shall not relieve Tenant or any such Transferee from the obligation to obtain Landlord’s express prior written consent to any subsequent Transfer by Tenant or any Transferee. The
acceptance of rent by Landlord from any other person shall not be deemed to be a waiver by Landlord of any provision of this Lease or to be a consent to any Transfer. 

14.5 Expenses and Attorneys’ Fees. Tenant shall pay to Landlord on demand all third party costs and expenses
(including reasonable attorneys’ fees) incurred by Landlord in connection with reviewing or consenting to any proposed Transfer (including any request for consent to, or any waiver of Landlord’s rights in connection with, any security
interest in any of Tenant’s property at the Premises), however this amount shall not exceed five hundred dollars ($500). 
 14.6
Effectiveness of Transfer. Prior to the date on which any permitted Transfer (whether or not requiring Landlord’s consent) becomes effective, Tenant shall deliver to Landlord a counterpart of the fully executed Transfer document and
Landlord’s standard form of consent to assignment or consent to sublease executed by Tenant and the Transferee in which each of Tenant and the Transferee confirms its obligations pursuant to this Lease. Failure or refusal of a Transferee to
execute any such instrument shall not release or discharge the Transferee from liability as provided herein. The voluntary, involuntary or other surrender of this Lease by Tenant, or a mutual 

  
 24 

 
cancellation by Landlord and Tenant, shall not work a merger, and any such surrender or cancellation shall, at the option of Landlord, either terminate all or any existing subleases or operate as
an assignment to Landlord of any or all of such subleases. 
 14.7 INTENTIONALLY OMITTED 

14.8 Assignment of Sublease Rents. Tenant hereby absolutely and irrevocably assigns to Landlord any and all rights to receive rent and
other consideration from any sublease and agrees that Landlord, as assignee or as attorney-in-fact for Tenant for purposes hereof, or a receiver for Tenant appointed on
Landlord’s application may (but shall not be obligated to) collect such rents and other consideration and apply the same toward Tenant’s obligations to Landlord under this Lease; provided, however, that Landlord grants to Tenant at all
times prior to an Event of Default by Tenant a revocable license to collect such rents (which license shall automatically and without notice be and be deemed to have been revoked and terminated immediately upon any Event of Default). 

14.9 Intentionally omitted. 

14.10 Effect of Impermissible Transfer. Any Transfer effected without Landlord’s consent in violation of this
Section 14 shall, at Landlord’s option, be an incurable Event of Default under Section 15.1 without the necessity of any notice and grace period. If Landlord elects to treat such unapproved Transfer as an incurable Event of Default
(hereinafter defined), Landlord may, in addition to all other remedies provided for in Section 15.2 below, increase the monthly Base Rent to one hundred ten percent (110%) of the Base Rent then in effect. 

15. DEFAULT AND REMEDIES. 
 15.1
Events of Default. The occurrence of any of the following shall constitute an “Event of Default” by Tenant. 
  

	 	1.	 Tenant fails to make any payment of rent when due, or any amount required to replenish the Security Deposit as
provided in Section 4 above, if payment in full is not received by Landlord within five (5) days after written notice that it is due; 

(a) Tenant abandons the Premises; 

(b) Tenant fails to deliver any estoppel certificate requested by Landlord within the period described in
Section 21.1—Estoppel Certificates; 
 (c) Tenant violates the restrictions on Transfer set forth in
Section 14—Assignment and Subletting; 
 (d) Tenant fails to timely deliver any documents within the period
described under Section 20 – Encumbrances; 
 (e) (f) Tenant ceases doing business as a going concern;
makes an assignment for the benefit of creditors; is adjudicated an insolvent, files a petition (or files an answer admitting the material allegations of a petition) seeking relief under any under any state or federal bankruptcy or other statute,
law or regulation affecting creditors’ rights; all or substantially all of Tenant’s assets are subject to judicial seizure or attachment and are not released within thirty (30) days, or Tenant consents to or acquiesces in the
appointment of a trustee, receiver or liquidator for Tenant or for all or any substantial part of Tenant’s assets; 

(f) Tenant fails, within ninety (90) days after the commencement of any proceedings against Tenant seeking relief under
any state or federal bankruptcy or other statute, law or regulation affecting creditors’ rights, to have such proceedings dismissed, or Tenant fails, within ninety (90) days after an appointment, without Tenant’s consent or
acquiescence, of any trustee, receiver or liquidator for Tenant or for all or any substantial part of Tenant’s assets, to have such appointment vacated; or 

  
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 (g) Tenant fails to perform or comply with any provision of this Lease other
than those described in (a) through (g) above, and does not fully cure such failure within thirty (30) days after notice to Tenant or, if such failure cannot be cured within such thirty (30)-day
period, Tenant fails within such fifteen (15)-day period to commence, and thereafter diligently proceed with, all actions necessary to cure such failure as soon as reasonably possible but in all events within
ninety (90) days of such notice; provided, however, that if Landlord in Landlord’s reasonable judgment determines that such failure cannot or will not be cured by Tenant within such ninety (90) days, then such failure shall constitute
an Event of Default immediately upon such notice to Tenant. 
 15.2 Remedies. Upon the occurrence of an Event of Default, Landlord
shall have the following remedies, which shall not be exclusive but shall be cumulative and shall be in addition to any other remedies now or hereafter allowed by law: 
  

	 	1.	 Landlord may terminate Tenant’s right to possession of the Premises at any time by written notice to
Tenant. Tenant expressly acknowledges that in the absence of such written notice from Landlord, no other act of Landlord, including re-entry into the Premises, efforts to relet the Premises, reletting of the
Premises for Tenant’s account, storage of Tenant’s personal property and Trade Fixtures, acceptance of keys to the Premises from Tenant or exercise of any other rights and remedies under this Section, shall constitute an acceptance of
Tenant’s surrender of the Premises or constitute a termination of this Lease or of Tenant’s right to possession of the Premises. Upon such termination in writing of Tenant’s right to possession of the Premises, as herein provided,
this Lease shall terminate and Landlord shall be entitled to recover damages from Tenant as provided in California Civil Code section 1951.2 and any other applicable existing or future Law providing for recovery of damages for such breach,
including: 

 (1) The worth at the time of the award of any unpaid rent that had been earned at the time
of the termination, to be computed by allowing interest at the Interest Rate set forth in Section 16.2 but in no case greater than the maximum amount of interest permitted by law; 

(2) The worth at the time of the award of the amount by which the unpaid rent that would have been earned between the time of
the termination and the time of the award exceeds the amount of unpaid Rent that Tenant proves could reasonably have been avoided, to be computed by allowing interest at the Interest Rate set forth in Section 16.2 but in no case greater
than the maximum amount of interest permitted by law; 
 (3) The worth at the time of the award of the amount by which the
unpaid rent for the balance of the Lease term after the time of the award exceeds the amount of unpaid rent that Tenant proves could reasonably have been avoided, to be computed by discounting that amount at the discount rate of the Federal Reserve
Bank of San Francisco at the time of the award plus one percent (1%); 
 (4) Any other amount necessary to compensate
Landlord for all the detriment proximately caused by Tenant’s failure to perform obligations under this Lease, including brokerage commissions and advertising expenses, expenses of remodeling the Premises for a new tenant (whether for the same
or a different use), and any special concessions made to obtain a new tenant; and 
 (5) Any other amounts, in addition to
or in lieu of those listed above, that may be permitted by applicable law. 
 (a) Landlord shall have the remedy described in
California Civil Code section 1951.4 (Landlord may continue this Lease in effect after Tenant’s breach and abandonment and recover rent as it becomes due, if Tenant has the right to sublet or assign, subject only to reasonable limitations).

  
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 (b) Landlord may cure the Event of Default at Tenant’s expense. If
Landlord pays any sum or incurs any expense in curing the Event of Default, Tenant shall reimburse Landlord upon demand for the amount of such payment or expense with interest at the Interest Rate from the date the sum is paid or the expense is
incurred until Landlord is reimbursed by Tenant. 
 (c) Landlord may remove all Tenant’s property from the Premises, and
such property may be stored by Landlord in a public warehouse or elsewhere at the sole cost and for the account of Tenant. If Landlord does not elect to store any or all of Tenant’s property left in the Premises, Landlord may consider such
property to be abandoned by Tenant, and Landlord may thereupon dispose of such property in any manner deemed appropriate by Landlord. Any proceeds realized by Landlord on the disposal of any such property shall be applied first to offset all
expenses of storage and sale, then credited against Tenant’s outstanding obligations to Landlord under this Lease, and any balance remaining after satisfaction of all obligations of Tenant under this Lease shall be delivered to Tenant. 

15.3 Subleases of Tenant. Whether or not Landlord elects to terminate this Lease on account of any default by Tenant, as set forth in
this Section 15 Landlord shall have the right to terminate any and all Transfers entered into by Tenant and affecting the Premises or may, in Landlord’s sole discretion, succeed to Tenant’s interest in such Transfers. In the event of
Landlord’s election to succeed to Tenant’s interest in any such Transfers, Tenant shall, as of the date of notice by Landlord of such election, have no further right to or interest in the rent or other consideration receivable thereunder.

 15.4 Intentionally Omitted. 

16. LATE CHARGE AND INTEREST. 

16.1 Late Charge. If any payment of rent is not received by Landlord within ten (10) business days after its due date (and whether
or not Landlord has notified Tenant of such delinquency), Tenant shall pay to Landlord on demand as a late charge an additional amount equal to five percent (5%) of the overdue payment as liquidated damages in lieu of actual damages (other than
interest under Section 16.2 and attorneys’ fees and costs under Sections 23.1 and 23.2). The parties agree that this late charge represents a reasonable estimate of the expenses that Landlord will incur because of any late payments of rent
(other than interest and attorneys’ fees and costs). Landlord’s acceptance of any liquidated damages shall not constitute a waiver of Tenant’s default with respect to the overdue amount or prevent Landlord from exercising any of the
rights and remedies available to Landlord under this Lease. A late charge shall not be imposed more than once on any particular installment not paid when due, but imposition of a late charge on any payment not made when due does not eliminate or
supersede late charges imposed on other (prior) payments not made when due or preclude imposition of a late charge on other installments or payments not made when due. 

16.2 Interest. In addition to the late charges referred to above, which are intended to defray Landlord’s costs resulting from
late payments, any payment from Tenant to Landlord not paid within thirty (30) days from the date when due shall at Landlord’s option bear interest from the date due until paid to Landlord by Tenant at the lesser rate of ten percent (10%)
per annum or the maximum lawful rate that Landlord may charge to Tenant under applicable laws, whichever is less (the “Interest Rate”). Acceptance of any late charge and/or interest shall not constitute a waiver of Tenant’s
default with respect to the overdue sum or prevent Landlord from exercising any of its other rights and remedies under this Lease. 
 17.
WAIVER. No provisions of this Lease shall be deemed waived by Landlord or Tenant unless such waiver is in a writing signed by the waiving party. The waiver by Landlord or Tenant of any breach of any provision of this Lease shall not be deemed
a waiver of such provision or of any subsequent breach of the same or any other provision of this Lease. No delay or omission in the exercise of any right or remedy of Landlord upon any default by Tenant, or of Tenant upon any default of Landlord,
shall impair such right or remedy or be construed as a waiver. Landlord’s acceptance of any payments of rent due under this Lease shall not be deemed a waiver of any default by Tenant under this Lease (including Tenant’s recurrent failure
to timely pay rent) other than Tenant’s nonpayment of the accepted sums, and no endorsement or statement on any check or accompanying any check or payment shall be deemed an accord and satisfaction. Landlord’s or Tenant’s consent to
or approval of any act by Tenant requiring Landlord’s or Tenant’s consent or approval shall not be deemed to waive or render unnecessary Landlord’s or Tenant’s consent to or approval of any subsequent act. 

  
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 18. ENTRY, INSPECTION AND CLOSURE. Upon reasonable oral or written notice to Tenant
(and without notice in emergencies), Landlord and its authorized representatives may enter the Premises at all reasonable times to determine whether the Premises are in good condition, to determine whether Tenant is complying with its obligations
under this Lease, to perform any maintenance or repair of the Premises or the Building that Landlord has the right or obligation to perform, to install or repair improvements for other tenants where access to the Premises is required for such
installation or repair, to serve, post or keep posted any notices required or allowed under the provisions of this Lease, to show the Premises to prospective brokers, agents, buyers, transferees, Mortgagees or tenants (but only during last 6 months
of the Term), or to do any other act or thing necessary for the safety or preservation of the Premises or the Building. When reasonably necessary, Landlord may temporarily close entrances, doors, corridors, elevators (if applicable) or other
facilities in the Building without liability to Tenant by reason of such closure. Landlord shall conduct its activities under this Section in a manner that will minimize inconvenience to Tenant without incurring material additional expense to
Landlord. In no event shall Tenant be entitled to an abatement of rent on account of any entry by Landlord, and Landlord shall not be liable in any manner for any inconvenience, loss of business or other damage to Tenant or other persons arising out
of Landlord’s entry on the Premises in accordance with this Section except if caused by Landlord’s gross negligence. No action by Landlord pursuant to this paragraph shall constitute an eviction of Tenant, constructive or otherwise,
entitle Tenant to an abatement of rent or to terminate this Lease or otherwise release Tenant from any of Tenant’s obligations under this Lease except as expressly provided herein. 

19. SURRENDER AND HOLDING OVER. 

19.1 Surrender. Upon the expiration or termination of this Lease, Tenant shall surrender the Premises and all Tenant Improvements and
Alterations to Landlord broom-clean and in their original condition, except for reasonable wear and tear, damage from casualty or condemnation and any changes resulting from approved Alterations; provided, however, that prior to the expiration or
termination of this Lease Tenant shall remove all telephone and other cabling installed in the Building by Tenant and remove from the Premises all Tenant’s personal property, Trade Fixtures and Alterations that Tenant has the right or is
required by Landlord to remove under the provisions of this Lease (except as expressly provided for otherwise in Section 6.1), and repair any damage caused by such removal. If such removal is not completed before the expiration or termination
of the Term, Landlord shall have the right (but no obligation) to remove the same, and Tenant shall pay Landlord on demand for all costs of removal and storage thereof and for the rental value of the Premises for the period from the end of the Term
through the end of the time reasonably required for such removal. Landlord shall also have the right to retain or dispose of all or any portion of such property if Tenant does not pay all such costs and retrieve the property within ten
(10) days after notice from Landlord (in which event title to all such property described in Landlord’s notice shall be transferred to and vest in Landlord). Tenant waives all Claims against Landlord for any damage or loss to Tenant
resulting from Landlord’s removal, storage, retention, or disposition of any such property. Upon expiration or termination of this Lease or of Tenant’s possession, whichever is earliest, Tenant shall surrender all keys to the Premises or
any other part of the Building and shall deliver to Landlord all keys for or make known to Landlord the combination of locks on all safes, cabinets and vaults that may be located in the Premises. Tenant’s obligations under this Section shall
survive the expiration or termination of this Lease. 
 19.2 Holding Over. If Tenant (directly or through any transferee or other successor-in-interest of Tenant) remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s continued possession shall be on the
basis of a tenancy at the sufferance of Landlord. In such event, Tenant shall continue to comply with or perform all the terms and obligations of Tenant under this Lease, except that the monthly Base Rent during Tenant’s holding over shall be
equal to: one hundred twenty five percent (125%) of the Base Rent and Additional Rent payable in the last full month prior to such holding over. Acceptance by Landlord of rent after such termination shall not constitute a renewal of this Lease; and
nothing contained in this provision shall be deemed to waive Landlord’s right of re-entry or any other right hereunder or at law. Tenant shall indemnify, defend and hold Landlord harmless from and against
all claims arising or resulting directly or indirectly from Tenant’s failure to timely surrender the Premises, including (i) any rent payable by or any loss, cost, or damages claimed by any prospective tenant of the Premises, and
(ii) Landlord’s damages as a result of such prospective tenant rescinding or refusing to enter into the prospective lease of the Premises by reason of such failure to timely surrender the Premises. 

  
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 20. ENCUMBRANCES. 

20.1 Subordination. This Lease and any rights of Tenant granted hereby shall be subject and subordinate to any ground lease, mortgage,
deed of trust, or other hypothecation or security device (collectively, “Encumbrance”), now or hereafter placed upon the Premises, to any and all advances made on the security thereof, and to all renewals, modifications, and extensions
thereof. Tenant agrees that the holders of any such Encumbrance (in this Lease together referred to as “Mortgagee”) shall have no liability or obligation to perform any of the obligations of Landlord under this Lease. Any Mortgagee may
elect to have this Lease and/or rights of Tenant granted hereby superior to the lien of its Encumbrance by giving written notice thereof to Tenant, whereupon this Lease and such rights of Tenant shall be deemed prior to such Encumbrance,
notwithstanding the relative dates of the documentation or recordation thereof. Tenant shall execute and deliver to Landlord, within twenty (20) business days after written request therefor by Landlord and in a form reasonably requested by
Landlord, any additional documents evidencing the subordination of this Lease with respect to any such Encumbrance and the nondisturbance agreement of the holder of any such Encumbrance. If Tenant falls to deliver such executed documents within
twenty (20) business days after Landlord’s second written request therefor, Tenant shall be in default of this Lease. 
 20.2
Attornment. In the event that Landlord transfers title to the Premises, or the Premises are acquired by another upon the foreclosure or termination of an Encumbrance to which this Lease is subordinated (i) Tenant shall, attorn to such
new owner, and upon request, enter into a new lease, containing all of the terms and provisions of this Lease, with such new owner for the remainder of the term hereof, or, at the election of such new owner, this Lease shall automatically become a
new Lease between Tenant and such new owner, upon all of the terms and conditions hereof, for the remainder of the term hereof; and (ii) Landlord shall thereafter be relieved of any further obligations hereunder and such new owner shall assume
all of Landlord’s obligations hereunder, except that such new owner shall not: (a) be liable for any act or omission of any prior landlord or with respect to events occurring prior to acquisition of ownership; (b) be subject to any
offsets or defenses which tenant might have against any prior landlord; (c) be bound by prepayment of more than one month’s rent, or (d) be liable for the return of any security deposit paid to any prior landlord and not delivered to
new owner. Tenant waives its right under any current or future law which gives or purports to give Tenant any right to terminate or otherwise adversely affect this Lease as a result of any sale of the Premises or the foreclosure or termination of
any Encumbrance. 
 20.3 INTENTIONALLY OMITTED 

20.4 Self-Executing. The agreements contained in this Section 20 shall be effective without the execution of any further
documents; provided, however, that, upon written request from Landlord or a Mortgagee in connection with a sale, financing or refinancing of the Premises, Tenant shall, within thirty (30) days after receipt of a written request, execute such
further writings as may be reasonably required to separately document any subordination and/or attornment provided for herein. 
 20.5
Mortgagee Protection. Tenant agrees to give any Mortgagee, by registered mail, a copy of any notice of default served upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of notice of assignment of
rents and leases, or otherwise) of the address of such Mortgagee. If Landlord shall have failed to cure such default within thirty (30) days from the effective date of such notice of default, then the Mortgagee shall have an additional thirty
(30) days within which to cure such default or if such default cannot be cured within that time, then such additional time as may be necessary to cure such default (including the time necessary to foreclose or otherwise terminate its
Encumbrance, if necessary to effect such cure), and this Lease shall not be terminated so long as such remedies are being diligently pursued. 

21. ESTOPPEL CERTIFICATES AND FINANCIAL STATEMENTS. 

21.1 Estoppel Certificates. Within fifteen (15) business days after written request therefor, Tenant shall execute and deliver to
Landlord, in a form provided by or satisfactory to Landlord, a certificate stating that this Lease is in full force and effect, describing any amendments or modifications hereto, acknowledging that this Lease is subordinate or prior, as the case may
be, to any Encumbrance and stating any other information Landlord may reasonably request, including the Term, the monthly Base Rent, the date to which Rent has been paid, the amount of any Security Deposit or prepaid rent, whether either party
hereto is in default under the terms of the Lease, and whether Landlord has completed its construction obligations hereunder (if any), and providing such other information 

  
 29 

 
concerning this Lease or the Premises as Landlord may reasonably request. Any person or entity purchasing, acquiring an interest in or extending financing with respect to the Property shall be
entitled to rely upon any such certificate. If Tenant falls to deliver such certificate within fifteen (15) business days after Landlord’s second written request therefor, Tenant shall in default of this Lease. No more than two
(2) requests for an estoppel certificate in any twelve month period. 
 21.2 Financial Statements. Throughout the Term of this
Lease, upon request by Landlord, not more than once a year, Tenant shall deliver to Landlord a copy of the financial statements for Tenant and any Guarantor (including at least a year end balance sheet and a statement of profit and loss) for each of
the three most recently completed years, prepared in accordance with generally accepted accounting principles (and, if such is Tenant’s and/or Guarantor’s normal practice, audited by an independent certified public accountant), all then
available subsequent interim statements, and such other financial information as may reasonably be requested by Landlord or required by any Mortgagee. 

22. NOTICES. 

22.1 Notices Generally. Any notice, demand, request, consent or approval that either party desires or is required to give to the other
party under this Lease shall be in writing and shall be served personally, delivered by messenger or courier service, or sent by U.S. certified mail, return receipt requested, postage prepaid, addressed to the other party at the party’s address
for notices set forth in the Basic Lease Information. Notices delivered personally or by certified mail, return receipt requested, will be effective immediately upon receipt (or refusal of delivery or receipt); notices sent by independent messenger
or courier service will be effective one (1) Business Day after acceptance by the independent service for delivery. Either party may change its address for notices hereunder by a notice to the other party complying with this Section. If Tenant
sublets the Premises, notices from Landlord shall be effective on the subtenant when given to Tenant pursuant to this Section. Notwithstanding any provision of this Lease to the contrary, if this Lease (or any rider, addendum or subsequent amendment
hereto) grants Tenant any option to extend or renew the Term, or to expand the Premises, the exercise of such option shall be valid only if Landlord actually receives written notice thereof from Tenant by the date that such option expires. 

22.2 Replacement of Statutory Notice Requirements. When this Lease requires service of a notice, that notice shall replace rather than
supplement any equivalent or similar statutory notice, including any notices required by Code of Civil Procedure section 1161 or any similar or successor statute. When a statute requires service of a notice in a particular manner, service of that
notice (or a similar notice required by this Lease) in the manner required by Section 22.1 shall replace and satisfy the statutory service-of-notice procedures,
including those required by Code of Civil Procedure section 1162 or any similar or successor statute. 
 23. ATTORNEYS’ FEES. 

23.1 Disputes between Landlord and Tenant. In the event of any litigation or arbitration regarding any rights and obligations under
this Lease, the prevailing party shall be entitled to recover reasonable attorneys’ fees and court costs in addition to any other relief which may be granted. The “Prevailing Party” shall mean the party receiving substantially the
relief desired, whether by settlement, dismissal, summary judgment, judgment, or otherwise. 
 23.2 Other Litigation. If Landlord,
without fault on Landlord’s part, is made a party to any litigation instituted by Tenant or by any third party against Tenant, or by or against any Transferee or other occupant of the Premises or otherwise arising out of or resulting from any
act or transaction of Tenant or of any such Transferee or occupant, Tenant shall hold Landlord harmless from any judgment rendered against Landlord or the Premises or any part thereof, and reimburse Landlord upon demand for all costs and expenses,
including reasonable attorneys’ fees, incurred by Landlord in or in connection with such litigation. . If Tenant, without fault on Tenant’s part, is made a party to any litigation instituted by Landlord or by any third party against
Landlord, or by or against any other occupant of the Building or otherwise arising out of or resulting from any act or transaction of Landlord or of any such occupant, Landlord shall hold Tenant harmless from any judgment rendered against Tenant or
the Premises or any part thereof, and reimburse Tenant upon demand for all costs and expenses, including reasonable attorneys’ fees, incurred by Tenant in or in connection with such litigation. 

  
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 24. QUIET POSSESSION. Subject to Tenant’s full and timely performance of all of
Tenant’s obligations under this Lease and subject to the terms of this Lease, including Section 20—Encumbrances, Tenant shall have the quiet possession of the Premises throughout the Term as against any persons or entities
lawfully claiming by, through or under Landlord. 
 25. SECURITY MEASURES. Landlord may, but shall be under no obligation to,
implement security measures for the Property, such as the registration or search of all persons entering or leaving the Building, requiring identification for access to the Building, evacuation of the Building for cause, suspected cause, or for
drill purposes, the issuance of magnetic pass cards or keys for Building or elevator access (if applicable) and other actions that Landlord deems necessary or appropriate to prevent any threat of property loss or damage, bodily injury or business
interruption; provided, however, that such measures shall be implemented in a way as not to inconvenience tenants of the Building unreasonably. Landlord shall at all times have the right to change, alter or reduce any such security services or
measures. Tenant shall cooperate and comply with, and cause Tenant’s Representatives and Visitors to cooperate and comply with, such security measures. Landlord, its agents and employees shall have no liability to Tenant or its Representatives
or Visitors for the implementation or exercise of, or the failure to implement or exercise, any such security measures or for any resulting disturbance of Tenant’s use or enjoyment of the Premises. 

26. FORCE MAJEURE. If either Tenant or Landlord is delayed, interrupted or prevented from performing any of its obligations under this
Lease, including its obligations under the Construction Rider, and such delay, interruption or prevention is due to fire, act of God, governmental act or failure to act, labor dispute, unavailability of materials or any cause outside the reasonable
control of Landlord or Tenant, as the case may be, then the time for performance of the affected obligations of Landlord shall be extended for a period equivalent to the period of such delay, interruption or prevention. 

27. RULES AND REGULATIONS. Tenant shall be bound by and shall comply with the rules and regulations attached to and made a part of this
Lease as Exhibit D to the extent those rules and regulations are not in conflict with the terms of this Lease, as well as any reasonable rules and regulations hereafter adopted by Landlord for all tenants of the Building, upon notice to
Tenant thereof (collectively, the “Building Rules”). Landlord shall not be responsible to Tenant or to any other person for any violation of, or failure to observe, the Building Rules by any other tenant or other person. 

28. LANDLORD’S LIABILITY. The term “Landlord,” as used in this Lease, shall mean only the owner or owners
of the Building at the time in question. In the event of any conveyance of title to the Building, then from and after the date of such conveyance, the transferor Landlord shall be relieved of all liability with respect to Landlord’s obligations
to be performed under this Lease after the date of such conveyance. Notwithstanding any other term or provision of this Lease, the liability of Landlord for its obligations under this Lease is limited solely to Landlord’s interest in the
Building as the same may from time to time be encumbered, and no personal liability shall at any time be asserted or enforceable against any other assets of Landlord or against Landlord’s partners or members or its or their respective partners,
trustees, shareholders, members, directors, officers or managers on account of any of Landlord’s obligations or actions under this Lease. 

29. CONSENTS AND APPROVALS. 

29.1 Determination in Good Faith. Wherever the consent, approval, judgment or determination of Landlord is required or permitted under
this Lease and no express standard is specified (e.g., “reasonableness”), Landlord shall exercise Landlord’s business judgment in good faith in granting or withholding such consent or approval or in making such judgment or
determination. If it is determined that Landlord failed to give its consent where it was required to do so under this Lease, Tenant shall be entitled to injunctive relief but shall not to be entitled to monetary damages or to terminate this Lease
for such failure. Without limiting the generality of the foregoing, if Tenant claims that Landlord has unreasonably withheld or delayed its consent under Section 14 of this Lease with respect to any proposed Transfer, Tenant’s sole remedy
shall be an injunction for the relief sought, and Tenant waives the benefit of the remedies provided under Civil Code section 1995.310, and any similar or successor statute, judicial decision or other law that purports to allow Tenant to terminate
this Lease or to seek damages under such circumstances. 

  
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 29.2 No Liability Imposed on Landlord. The review and/or approval by Landlord of any
item or matter to be reviewed or approved by Landlord under the terms of this Lease or any Exhibits or Addenda hereto shall not impose upon Landlord any liability for the accuracy or sufficiency of any such item or matter or the quality or
suitability of such item for its intended use. Any such review or approval is for the sole purpose of protecting Landlord’s interest in the Property, and no third parties, including Tenant or the Representatives or Visitors of Tenant or any
person or entity claiming by, through or under Tenant, shall have any rights as a consequence thereof. 
 30. BROKERS.
Landlord shall pay the fee or commission of the broker or brokers identified in the Basic Lease Information (the “Broker”) in accordance with Landlord’s separate written agreement with the Broker, if any. Each of Landlord and Tenant
warrants and represents to the other that in the negotiating or making of this Lease such representing party nor anyone acting on its behalf has dealt with any broker or finder who might be entitled to a fee or commission for this Lease other than
the Broker. Each of Landlord and Tenant shall indemnify and hold the other harmless from any claim or claims, including costs, expenses and attorneys’ fees incurred by the other asserted by any other broker or finder for a fee or commission
based upon any dealings with or statements made the representing party or its Representatives. 
 31. INTENTIONALLY OMITTED

 32. ENTIRE AGREEMENT. This Lease, including the Exhibits and any Addenda attached hereto, and the documents referred to
herein, if any, constitute the entire agreement between Landlord and Tenant with respect to the leasing of space by Tenant in the Building, and supersede all prior or contemporaneous agreements, understandings, proposals and other representations by
or between Landlord and Tenant, whether written or oral. Neither Landlord nor Landlord’s agents have made any representations or warranties with respect to the Premises, the Building, the Property or this Lease except as expressly set forth
herein, and no rights, easements or licenses shall be acquired by Tenant by implication or otherwise unless expressly set forth herein. The submission of this Lease for examination does not constitute an option for the Premises and this Lease shall
become effective as a binding agreement only upon execution and delivery thereof by Landlord to Tenant. 
 33. INDEPENDENT COVENANTS.
This Lease shall be construed as though the covenants of Tenant are independent and not dependent and Tenant hereby expressly waives the benefit of any statute to the contrary and agrees that if Landlord fails to perform its obligations set forth
herein, Tenant shall not be entitled to make any repairs or perform any acts hereunder at Landlord’s expense or to any setoff of the rent or other amounts owing hereunder against Landlord; provided, however, that the foregoing shall in
no way impair the right of Tenant to commence a separate action against Landlord for any violation by Landlord of the provisions hereof. 

34. MUTUAL REPRESENTATION OF AUTHORITY. Landlord and Tenant represent and warrant to each other that they have full right, power and
authority to enter into this Lease without the consent or approval of any other entity or person and make these representations knowing that the other party will rely thereon. The signatory on behalf of Landlord and Tenant further represent and
warrant that they have full right, power and authority to act for and on behalf of Landlord and Tenant in entering into this Lease. 
 35.
SIGNS. 
 35.1 Full Floors. Subject to Landlord’s prior written approval, in its solo discretion, and provided all
signs are in keeping with the quality, design and style of the Building, Tenant, if the Premises comprise an entire floor of the Building, at its sole cost and expense, may install identification signage anywhere in the Premises including in the
lobby (if applicable) of the Premises, provided that such signs must not be visible from the exterior of the Building. 
 35.2
Multi-Tenant Floors. If other tenants occupy space on the floor on which the Premises are located, Tenant’s identifying signage shall be provided by Landlord, at Landlord’s cost, and such signage shall be comparable to that used by
Landlord for other similar floors in the Building and shall comply with Landlord’s then-current Building standard signage program. 

  
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 35.3 Prohibited Signage and Other Items. Any signs, notices, logos, pictures, names
or advertisements which are installed and that have not been separately approved by Landlord may be removed without notice by Landlord at the sole expense of Tenant. Any signs, window coverings, or blinds (even if the same are located behind the
Landlord-approved window coverings for the Building), or other items visible from the exterior of the Premises or Building, shall be subject to the prior approval of Landlord, in its sole discretion. All signs shall comply with the CC&Rs and all
applicable laws and regulations. 
 35.4 Building Directory. A building directory will be located in the lobby of the Building.
Tenant shall have the right, at Landlord’s sole cost and expense, to designate name strips to be displayed under Tenant’s entry in such directory, provided that in no event shall Tenant be entitled to use a percentage of such directory
that exceeds Tenant’s Share. 
 35.5 Building Name: Landlord’s Signage Rights. Landlord may at any time
change the name of the Building and install, affix, and maintain all signs on the exterior and interior of the Building, and any monuments, as Landlord may, in Landlord’s sole discretion, desire. Tenant shall not have or acquire any property
right or interest in the name of the Building. 
 35.6 (a) Pylon, Tenant shall have the right to place signage on any existing or
future pylon or monument signs at no additional cost. In no event shall Tenant’s signage on any existing or future pylon signs interfere with any other tenants of the Shopping Centers signs. 

(b) Maintenance and Removal. Tenant agrees to maintain its signs in good states of repair and save Landlord harmless from any loss,
cost, or damage resulting from the signs’ condition and shall repair any damage which may have been caused by the erection, existence, maintenance, or removal of such signs. 

36. TENANT PARKING. Subject to the requirements and limitations set forth in the CC&R’s, and any other provision therein
applicable to the parking of vehicles, Tenant shall have the right, at no additional cost (except as provided in Section 3.2(4) of this Lease) to Tenant during the Term, as the same may be extended, to use the parking spaces designated as such
in the Common Areas based upon a 4/1000 square feet ratio. 
 37. INTENTIONALLY OMITTED. 

38. WAIVER OF JURY TRIAL. In the event of a dispute, Landlord and Tenant agree to waive the right to jury trial. 

39. LIMITATION OF ACTIONS AGAINST LANDLORD. Any claim, demand or right of any kind by Tenant which is based upon or arises in
connection with this Lease shall be barred unless Tenant commences an action thereon within six (6) months after the date that the act, omission, event or default upon which the claim, demand or right arises, has occurred. 

40. MISCELLANEOUS. 
 40.1
Amendments. This Lease may not be amended or modified except by a writing signed by Landlord and Tenant. 
 40.2 Successors and
Assigns. Subject to Section 14—Assignment and Subletting and Section 28 - Landlord’s Liability, this Lease shall be binding on and shall inure to the benefit of the parties and their respective
successors, assigns and legal representatives. 
 40.3 Governing Law. This Lease shall be construed and interpreted in accordance
with the laws (excluding conflict of laws principles) of the State in which the Building is located. 
 40.4 Severability. The
determination that any provisions hereof may be void, invalid, illegal or unenforceable shall not impair any other provisions hereof and all such other provisions of this Lease shall remain in full force and effect. The unenforceability, invalidity
or illegality of any provision of this Lease under particular circumstances shall not render unenforceable, invalid or illegal other provisions of this Lease, or the same provisions under other circumstances. 

  
 33 

 40.5 Interpretation. The provisions of this Lease shall be construed in accordance
with the fair meaning of the language used and shall not be strictly construed against either party. When required by the context of this Lease, the singular includes the plural. Wherever the term “including” is used in this Lease, it
shall be interpreted as meaning “including, but not limited to” the matter or matters thereafter enumerated. The captions contained in this Lease are for purposes of convenience only and are not to be used to interpret or construe this
Lease. 
 40.6 Joint and Several. If more than one person or entity is identified as Tenant hereunder, the obligations of each and
all of them under this Lease shall be joint and several. 
 40.7 Time of Essence. Time is of the essence with respect to this Lease,
except as to the conditions relating to the delivery of possession of the Premises to Tenant. 
 40.8 Nondisclosure of Lease Terms.
Tenant acknowledges and agrees that the terms of this Lease are confidential and constitute proprietary information of Landlord. Disclosure of the terms could adversely affect the ability of Landlord to negotiate other leases and impair
Landlord’s relationship with other tenants. Accordingly, Tenant agrees that it, and its partners, officers, directors, employees and attorneys, shall not intentionally and voluntarily disclose the terms and conditions of this Lease to any other
tenant or apparent prospective tenant of the Building or Property, either directly or indirectly, without the prior written consent of Landlord, provided, however, that Tenant may disclose the terms to prospective subtenants or assignees under this
Lease. Neither Landlord nor Tenant shall record this Lease. 
 40.9 Changes Requested By Lender. If, in connection with obtaining
financing for the Property, the lender shall request reasonable modifications in this Lease as a condition to the financing, Tenant will not unreasonably withhold or delay its consent, provided that the modifications do not materially increase the
obligations of Tenant or materially and adversely affect the leasehold interest created by this Lease. 
 40.10 Right to Lease.
Landlord reserves the absolute right to contract with any other person or entity to be a tenant in the Property as Landlord, in Landlord’s sole business judgment, determines best to promote the interests of the Property. Tenant does not rely on
the expectation, and Landlord does not represent, that any specific tenant or type or number of tenants will, during the Lease term, occupy any space in the Property. 

40.11 No Air Rights. No rights to any view from the Premises or to exterior light or air to the Premises are created under this Lease.

 40.12 Transportation Management. Tenant shall fully comply with all current or future compulsory programs imposed by any public
authority, intended to manage parking, transportation, or traffic in and around the Building. In connection with this compliance, Tenant shall take responsible action for the transportation planning and management of all employees located at the
Premises by working directly with Landlord, any government transportation management organizations, or other transportation-related committees or entities. This provision includes programs such as the following: (a) restrictions on the number
of peak-hour vehicle trips generated by Tenant; (b) encouragement of increased vehicle occupancy through employer-sponsored financial or in-kind incentives; (c) implementation of an in-house or area-wide ridesharing program and appointment of an employee transportation coordinator, and (d) flexible work shifts for employees. 

40.13 Prior Drafts. If the parties delete any provision appearing in the original draft of this Lease, this Lease shall be interpreted
as if the deleted language were never part of this Lease. 
 40.14 CC&R’s. This Lease is subject to the terms
and conditions of the CC&R’s, and in the event of a conflict between the terms of this Lease and the terms of the CC&R’s, the terms of the CC&R’s shall control. 

  
 34 

 40.15 Counterparts. This Lease may be executed in multiple counterparts, each of
which shall be deemed an original, but all of which, together, shall constitute one and the same instrument. 
 IN WITNESS WHEREOF, the
parties have executed this Lease as of the dates set forth below. 
  

									
	LANDLORD:	 		 		 	TENANT
				
	 8000 JARVIS AVENUE EQUITIES, LLC, a

California limited liability company
	 		 		 	 RAIN THERAPEUTICS, INC.

A Delaware C-Corp

	By:	 	Time Equities Inc., as Agent	 		 		 	
					
	By:	 	 /s/ Richard Recny
	 		 	By:	 	 /s/ Avanish Vellanki

					
	Name:	 	 Richard Recny
	 		 	Name:	 	 Avanish Vellanki

					
	Title:	 	 Director of Asset Management
	 		 	Title:	 	 CEO

					
	Date:	 	 9-24-18
	 		 	Date:	 	 9/21/2018

  
 35 

 COMMENCEMENT DATE MEMORANDUM 

 

			
	 LANDLORD:
	  	8000 JARVIS AVENUE EQUITIES, LLC
		
	 TENANT:
	  	Rain Therapeutics, Inc.
		
	 BUILDING ADDRESS:
	  	8000 Jarvis Avenue, Newark, California
		
	 LOCATION:
	  	8000 Jarvis Avenue, Newark, California Suite No. 204, Newark, California.

 For the Lease dated September 25, 2018 (“Lease”) 

This is to certify: 
 1. That the undersigned
Tenant occupies the Premises commonly known and designated as 8000 Jarvis Avenue, Suite No 204, Newark, California. 
 2. That Landlord
delivered possession of the Premises to the undersigned Tenant on January 11, 2019. 
 3. That the Lease Term commenced on
January 21, 2019. 
 4. The Expiration Date shall be March 31, 2024 

5. Base Rent for March 2024 shall be $14,738.75. 

6. That the Base Rent of Twelve Thousand Seven Hundred Twenty Eight and 10/100 Dollars ($12,728.10) has been paid to and including
February 20, 2019. The Tenant owes Base Rent in the amount of $17,244.52 through March 31, 2019. 
 7. That a security deposit of
$75,000.00 has been paid by Tenant to Landlord. 
 8. That as of the date hereof, the undersigned Tenant is entitled to no credit, offset or
deduction in Base Rent or other rent. 
 9. That all construction to be performed by Landlord as set forth in the Lease is complete and has
been accepted by Tenant. 
 10. That the undersigned Tenant claims no right, title or interest in the above-described premises, or right to
the possession of said Premises other than under the terms of said Lease, and that there are no written or oral agreements affecting tenancy other than the Lease. 

11. Landlord is not in default or breach of any of Landlord’s obligations under the Lease. 

 

									
	LANDLORD:	 		 	TENANT:
			
	 8000 JARVIS AVENUE EQUITIES, LLC, a

California limited liability company
	 		 	RAIN THERAPEUTICS, INC.
					
	By:	 	Time Equities, Inc., As Agent	 		 		  	
					
	By:	 	 /s/ Richard Recny
	 		 	By:	  	 /s/ Avanish Vellanki

					
	Name:	 	 Richard Recny
	 		 	Name:	  	 Avanish Vellanki

					
	Title:	 	 Director of Asset Management
	 		 	Title:	  	 CEO

					
	Date:	 	 3/29/2019
	 		 	Date:	  	 3/29/2019

 TENANT NOTICE LETTER 

December 18, 2019 
  

	To:	 BSP Senita 8000 Jarvis, LLC 

c/o Buchanan Street Partners 

3501 Jamboree Road, Suite 4200 

Newport Beach, CA 95660 
  

	 	Re:	 Notice of Lease Assignment 

 

	 	Premises:	 8000 Jarvis Avenue 

Newark, California 94560 
 Ladies and Gentlemen:

 Please be advised that as of the date hereof the Premises have been acquired by, and the Lessor’s interest in your lease and your
security (if any) have been assigned to BSP Senita 8000 Jarvis, LLC, a Delaware limited liability company (“New Owner”). 

All future rental and other payments under your lease shall be paid to New Owner, in accordance with the terms of your lease, to the following
address: 
  

					
		 	 Provided under separate communication
	 	
		 	  
	 	
		 	  
	 	
		 	  
	 	
		 	  
	 	

  

							
		 		 	Very truly yours,
			
	Prior Owner:	 		 	8000 Jarvis Avenue Equities LLC
				
		 		 	By:	 	/s/ Robert Kantor
		 		 		 	Robert Kantor
		 		 		 	Manager

 [SIGNATURES CONTINUE ON NEXT PAGE] 

											
	 New Owner:
	 		 	BSP Senita 8000 Jarvis, LLC,
		 		 	a Delaware limited liability company
				
		 		 	By:	 	BSP Senita Realty Investors, LLC,
		 		 		 	a Delaware limited liability company
		 		 		 	its Sole Member
					
		 		 		 	By:	 	BSP Senita Manager, LLC
		 		 		 		 	a Delaware limited liability company
		 		 		 		 	its Manager
						
		 		 		 		 	By:	 	 /s/ Robert J. Dougherty

		 		 		 		 	Name:	 	Robert J. Dougherty
		 		 		 		 	Title:	 	Vice President

 FIRST AMENDMENT TO OFFICE LEASE AGREEMENT 

THIS FIRST AMENDMENT TO OFFICE LEASE AGREEMENT (this “Amendment”) is made effective as of June 3, 2020 (the “Effective Date”), by and between BSP SENITA 8000 JARVIS, LLC, a Delaware limited liability company (“Landlord”), and RAIN THERAPEUTICS
INC., a Delaware corporation (“Tenant”). 
 RECITALS 

A. Landlord (as successor-in-interest to 8000 Jarvis Avenue
Equities LLC, a California limited liability company) and Tenant are parties to that certain lease entitled “Office Lease Agreement” dated September 25, 2018 (the “Lease”), pursuant to which Tenant leases from Landlord the
premises consisting of approximately 3,857 rentable square feet referred to as Suite 204, all as more particularly described in the Lease (the “Premises”) situated in the building located at 8000 Jarvis Avenue, Newark, California (the
“Building”). 
 B. The parties acknowledge the existence of State of California Executive Order No.
N-3320 (“Executive Order”) and the COVID-19 crisis and the challenges that many businesses are suffering due to the Executive Order and the
crisis. Landlord and Tenant desire to amend the Lease to provide for rent relief with respect to Base Rent for the months of July, August and September, 2020 and to confirm Tenant’s continued obligation to pay rent as and when due pursuant to
the terms of the Lease on the terms and conditions as more particularly set forth herein. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the mutual covenants contained herein, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, Landlord and Tenant agree that the Lease is amended as follows: 
 1.
DEFINED TERMS. Capitalized terms used and not otherwise defined herein shall have the same meanings ascribed to them in the Lease. From and after the date hereof,
unless the context otherwise clearly requires, the use of the term “Lease” herein shall mean the Lease, as amended by this Amendment. 

2. RENT RELIEF. Provided that no Event of Default by Tenant
beyond any applicable notice and cure periods under the Lease has occurred under the Lease, the Base Rent amounts for the period of July 1, 2020 through September 30, 2020 (the “Rent Relief Period”) shall be Zero
Dollars ($0.00) and, in consideration for such Base Rent relief, the Term of the Lease shall hereby be extended for a period of six (6) months (the “Extension Period”). For clarification, the Expiration Date of the Lease, which
is currently scheduled to occur on March 31, 2024 is hereby extended until September 30, 2024 and the Base Rent payable during the remaining Term (as extended herein) shall be paid in accordance with the following chart: 

 

					
	 Time Period
	  	Monthly Base Rent	 
	 July 1, 2020 — September 30, 2020
	  	$	0.00	 
	 October 1, 2020 —January 31, 2021
	  	$	13,113.80	 
	 February 1, 2021 — January 31, 2022
	  	$	13,499.50	 
	 February 1, 2022 — January 31, 2023
	  	$	13,923.77	 
	 February 1, 2023 — September 30, 2024
	  	$	14,309.47	 

 3. CONFIRMATION OF TENANT’S
RENT OBLIGATIONS. Except as otherwise provided herein, nothing contained herein shall be construed as relieving Tenant of the duty to pay all other sums due in accordance with the

  
 1 

 
Lease, including the payment of Tenant’s Share of Operating Costs, Taxes, Utilities and any Additional Rent during the Rent Relief Period (i.e., for the months of July, August and September
2020). Immediately upon the expiration of the Rent Relief Period (i.e., commencing on October 1, 2020), Tenant shall resume paying monthly installments of Base Rent (in addition to all other charges payable pursuant to the Lease, including, but
not limited to the payment of Tenant’s Share of Operating Costs, Taxes and Utilities), in accordance with Section 2 above. In the event that, from and after the Effective Date, an Event of Default occurs and Tenant
fails to cure such Event of Default within the applicable cure period, then the amount of the Base Rent abated during the Rent Relief Period shall become immediately due and payable to Landlord as Additional Rent. 

4. ADDITIONAL RENT DURING RENT RELIEF
PERIOD. Notwithstanding anything in this Amendment to the contrary, during the Rent Relief Period, Tenant shall continue to remain obligated to pay Tenant’s Share of Operating Costs, Taxes,
Utilities, Additional Rent and all other sums payable by Tenant under the Lease to Landlord in advance, without offset, deduction or deferral, in accordance with Section 3 of the Original Lease. 

5. CONDITION OF THE PREMISES.
Landlord shall have no obligation to construct leasehold improvements for Tenant or to repair or refurbish any portion of the Premises in connection with this Amendment, except as may be provided otherwise under the Lease. 

6. BROKERS. Tenant represents and warrants to Landlord that it has not
engaged any broker, finder or other person who would be entitled to any commission or fees in respect of the negotiation, execution or delivery of this Amendment and shall indemnify, defend and hold harmless Landlord against any loss, cost,
liability or expense incurred by Landlord as a result of any claim asserted by any such broker, finder or other person on the basis of any arrangements or agreements made or alleged to have been made by or on behalf of Tenant. The provisions of this
section shall not apply to brokers with whom Landlord has an express written broker agreement. 
 7.
NOTICES. All notices to Landlord shall be sent in accordance with Section 22 of the Original Lease to the following addresses: 

 

			
	 If to Landlord:
	  	 BSP SENITA 8000 JARVIS, LLC

		  	 c/o Buchanan Street Partners

		  	 3501 Jamboree Road, Suite 4200

		  	 Newport Beach, California 92660

		  	 Attention: Timothy Ballard and Garrison Weaver

		
	 With a copy to:
	  	 BSP SENITA 8000 JARVIS, LLC

		  	 c/o Buchanan Street Partners

		  	 1755 S. Naperville Road, Suite 100

	 	  	Wheaton, IL 60189
		  	 Attention: Mark S. Oddo

 8. SPECIFIC REPRESENTATIONS BY
TENANT. Tenant represents and warrants to Landlord that, as of the date hereof: (i) Tenant is not in breach or default of any of its obligations under the Lease; (ii) Landlord is not in
breach or default of any of its obligations under the Lease; (iii) the Lease is in full force and effect and constitutes the only agreement between Landlord and Tenant regarding the leasing of the Premises; (iv) Tenant is not entitled to
any credits, offsets, concessions or abatements under the Lease, or otherwise against the payment of Base Rent, Additional Rent or other charges under the Lease, except as listed herein; (v) Tenant is not currently a party to any bankruptcy or
similar proceeding; and (vi) Tenant holds the entire interest of the “Tenant” under the Lease, and has not assigned or sublet any interest therein. 

9. CONTINUING EFFECTIVENESS. The Lease, except as amended hereby,
remains unamended, and, as amended hereby, remains in full force and effect. 
 10.
COUNTERPARTS. This Amendment may be executed in counterparts, each of which shall constitute an original, and all of which, together, shall constitute one document. 

  
 2 

 11. ENTIRE
AGREEMENT. This Amendment embodies the entire understanding between Landlord and Tenant with respect to its subject matter and can be changed only by an instrument in writing signed by Landlord
and Tenant. 
 12. CORPORATE AND PARTNERSHIP
AUTHORITY. If Tenant is a corporation or partnership, or is comprised of either or both of them, each individual executing this Amendment for the corporation or partnership represents that he or
she is duly authorized to execute and deliver this Amendment for the corporation or partnership and that this Amendment is binding upon the corporation or partnership in accordance with its terms. 

13. ACCESSIBILITY. To Landlord’s actual knowledge, the property being leased
or rented pursuant to this Amendment has not undergone inspection by a Certified Access Specialist (CASp). A CASp can inspect the Premises and determine whether the Premises comply with all of the applicable construction-related accessibility
standards under State law. Although State law does not require a CASp inspection of the Premises, the Landlord may not prohibit Tenant from obtaining a CASp inspection of the Premises for the occupancy or potential occupancy of Tenant, if requested
by Tenant. The parties shall mutually agree on the arrangements for the time and manner of a CASp inspection requested by Tenant, the payment of the fee for such a Tenant requested CASp inspection, and the cost of making any repairs necessary to
correct violations of construction-related accessibility standards within the Premises. This Section 13 is included in this Amendment solely for the purpose of complying with California Civil Code Section 1938 and
shall not in any manner affect Landlord’s and Tenant’s respective responsibilities for compliance with construction-related accessibility standards as provided under the Lease. 

14. ATTORNEYS’ FEES. The provisions of Section 23 of the
Original Lease respecting attorneys’ fees shall apply to this Amendment. 
 15. EXECUTION BY
BOTH PARTIES. Submission of this instrument for examination or signature by Tenant does not constitute a reservation of or option to amend the Lease, and it is not effective as an
amendment to lease or otherwise until execution by and delivery to both Landlord and Tenant, and execution and delivery hereof. 

16. CONFIDENTIALITY. Tenant agrees to keep the terms of this Amendment
confidential and shall not disclose same to any other person not a party hereto without the prior written consent of the other, provided that Tenant may disclose the terms hereof to such accountants, attorneys, managing employees, and others in
privity with Tenant to the extent reasonably necessary for Tenant’s business purposes. 
 17. ELECTRONIC
SIGNATURES. Each party hereto, and their respective successors and assigns shall be authorized to rely upon the signatures of all of the parties hereto on this Amendment which are delivered by
facsimile, telecopier or electronic mail transmission (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) as constituting a duly authorized, irrevocable, actual, current
delivery of this Amendment with original ink signatures of each person and entity. 

  
 3 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date
first above written. 
 TENANT: 
  

			
	 Rain Therapeutics, Inc.,
 a
Delaware corporation

		
	By:	 	 /s/ Avanish Vellanki

	Name:	 	Avanish Vellanki
	Title:	 	CEO

  

							
	 LANDLORD:
	 	
	
	 BSP SENITA 8000 JARVIS, LLC,

a Delaware limited liability company

		
	By:	 	BSP Senita Realty Investors, LLC,
		 	a Delaware limited liability company
		 	its Sole Member
			
		 	By:	 	 BSP Senita Manager, LLC,
 a Delaware
limited liability
 its Manager

				
		 		 	By:	 	 /s/ Mark S. Oddo

		 		 	Name:	 	Mark S. Oddo
		 		 	Its:	 	Authorized Signatory

  
 4Exhibit 4.1

 

HEPION PHARMACEUTICALS, INC.,

 ISSUER

AND

[TRUSTEE],

TRUSTEE

INDENTURE

DATED AS OF , 20__

SENIOR DEBT SECURITIES

 

    	 	 -1-	 

    

    

 

TABLE OF CONTENTS

 

	 	Page
	ARTICLE I DEFINITIONS	5
	Section 1.1 Definitions of Terms	5
	ARTICLE II ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES	8
	Section 2.1 Designation and Terms of Securities	8
	Section 2.2 Form of Securities and Trustee's Certificate	9
	Section 2.3 Denominations: Provisions for Payment	9
	Section 2.4 Execution and Authentications	10
	Section 2.5 Registration of Transfer and Exchange	11
	Section 2.6 Temporary Securities	12
	Section 2.7 Mutilated, Destroyed, Lost or Stolen Securities	12
	Section 2.8 Cancellation	12
	Section 2.9 Benefits of Indenture	13
	Section 2.10 Authenticating Agent	13
	Section 2.11 Global Securities	13
	ARTICLE III REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS	14
	Section 3.1 Redemption	14
	Section 3.2 Notice of Redemption	14
	Section 3.3 Payment Upon Redemption	15
	Section 3.4 Sinking Fund	15
	Section 3.5 Satisfaction of Sinking Fund Payments
    with Securities	15
	Section 3.6 Redemption of Securities for Sinking Fund	15
	ARTICLE IV COVENANTS	16
	Section 4.1 Payment of Principal, Premium and Interest	16
	Section 4.2 Maintenance of Office or Agency	16
	Section 4.3 Paying Agents	16
	Section 4.4 Appointment to Fill Vacancy in Office
    of Trustee	17
	Section 4.5 Compliance with Consolidation Provisions	17
	ARTICLE V SECURITYHOLDERS' LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE	17
	Section 5.1 Company to Furnish Trustee Names and Addresses
    of Securityholders	17
	Section 5.2 Preservation Of Information; Communications
    With Securityholders	17
	Section 5.3 Reports by the Company	18
	Section 5.4 Reports by the Trustee	18
	ARTICLE VI REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT	19
	Section 6.1 Events of Default	19
	Section 6.2 Collection of Indebtedness and Suits for
    Enforcement by Trustee	20
	Section 6.3 Application of Moneys Collected	21
	Section 6.4 Limitation on Suits	21
	Section 6.5 Rights and Remedies Cumulative; Delay
    or Omission Not Waiver	22
	Section 6.6 Control by Securityholders	22
	Section 6.7 Undertaking to Pay Costs	22
	ARTICLE VII CONCERNING THE TRUSTEE	23
	Section 7.1 Certain Duties and Responsibilities of
    Trustee	23
	Section 7.2 Certain Rights of Trustee	23
	Section 7.3 Trustee Not Responsible for Recitals or
    Issuance or Securities	24
	Section 7.4 May Hold Securities	24
	Section 7.5 Moneys Held in Trust	24
	Section 7.6 Compensation and Reimbursement	25
	Section 7.7 Reliance on Officer's Certificate	25
	Section 7.8 Disqualification; Conflicting Interests	25
	Section 7.9 Corporate Trustee Required; Eligibility	25
	Section 7.10 Resignation and Removal; Appointment
    of Successor	25
	Section 7.11 Acceptance of Appointment By Successor	26

 

    	 	 -2-	 

    

    

 

	Section 7.12 Merger, Conversion, Consolidation or Succession to Business	27
	Section 7.13 Preferential Collection of Claims Against
    the Company	27
	Section 7.14 Notice of Default	27
	ARTICLE VIII CONCERNING THE SECURITYHOLDERS	28
	Section 8.1 Evidence of Action by Securityholders	28
	Section 8.2 Proof of Execution by Securityholders	28
	Section 8.3 Who May be Deemed Owners	28
	Section 8.4 Certain Securities Owned by Company Disregarded	28
	Section 8.5 Actions Binding on Future Securityholders	29
	ARTICLE IX SUPPLEMENTAL INDENTURES	30
	Section 9.1 Supplemental Indentures Without the Consent
    of Securityholders	30
	Section 9.2 Supplemental Indentures With Consent of
    Securityholders	30
	Section 9.3 Effect of Supplemental Indentures	31
	Section 9.4 Securities Affected by Supplemental Indentures	31
	Section 9.5 Execution of Supplemental Indentures	31
	ARTICLE X SUCCESSOR ENTITY	32
	Section 10.1 Company May Consolidate, Etc	32
	Section 10.2 Successor Entity Substituted	32
	Section 10.3 Evidence of Consolidation, Etc	32
	ARTICLE XI SATISFACTION AND DISCHARGE	33
	Section 11.1 Satisfaction and Discharge of Indenture	33
	Section 11.2 Discharge of Obligations	33
	Section 11.3 Deposited Moneys to be Held in Trust	33
	Section 11.4 Payment of Moneys Held by Paying Agents	33
	Section 11.5 Repayment to Company	33
	ARTICLE XII IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS	34
	Section 12.1 No Recourse	34
	ARTICLE XIII MISCELLANEOUS PROVISIONS	35
	Section 13.1 Effect on Successors and Assigns	35
	Section 13.2 Actions by Successor	35
	Section 13.3 Surrender of Company Powers	35
	Section 13.4 Notices	35
	Section 13.5 Governing Law	35
	Section 13.6 Treatment of Securities as Debt	35
	Section 13.7 Certificates and Opinions as to Conditions
    Precedent	35
	Section 13.8 Payments on Business Days	35
	Section 13.9 Conflict with Trust Indenture Act	36
	Section 13.10 Counterparts	36
	Section 13.11 Separability	36
	Section 13.12 Compliance Certificates	36

 

    	 	 -3-	 

    

    

 

INDENTURE

 

INDENTURE, dated as of [ ·
], among Hepion Pharmaceuticals, Inc., a Delaware corporation (the "Company"), and [TRUSTEE], as trustee (the "Trustee"):

 

WHEREAS, for its lawful corporate purposes,
the Company has duly authorized the execution and delivery of this Indenture to provide for the issuance of debt securities (hereinafter
referred to as the "Securities"), in an unlimited aggregate principal amount to be issued from time to time in one or
more series as in this Indenture provided, as registered Securities without coupons, to be authenticated by the certificate of
the Trustee;

 

WHEREAS, to provide the terms and conditions
upon which the Securities are to be authenticated, issued and delivered, the Company has duly authorized the execution of this
Indenture; and

 

WHEREAS, all things necessary to make this
Indenture a valid agreement of the Company, in accordance with its terms, have been done.

 

NOW, THEREFORE, in consideration of the
premises and the purchase of the Securities by the holders thereof, it is mutually covenanted and agreed as follows for the equal
and ratable benefit of the holders of Securities:

 

    	 	 -4-	 

    

    

 

ARTICLE I

 

DEFINITIONS

 

Section 1.1 Definitions of Terms
..

 

The terms defined in this Section (except
as in this Indenture or any indenture supplemental hereto otherwise expressly provided or unless the context otherwise requires)
for all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this
Section and shall include the plural as well as the singular. All other terms used in this Indenture that are defined in the Trust
Indenture Act of 1939, as amended, or that are by reference in such Act defined in the Securities Act of 1933, as amended (except
as herein or any indenture supplemental hereto otherwise expressly provided or unless the context otherwise requires), shall have
the meanings assigned to such terms in said Trust Indenture Act and in said Securities Act as in force at the date of the execution
of this instrument.

 

"Authenticating Agent" means
an authenticating agent with respect to all or any of the series of Securities appointed by the Trustee pursuant to Section 2.10.

 

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

 

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

 

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

 

"Business Day" means, with respect
to any series of Securities, any day other than a day on which federal or state banking institutions in the Borough of Manhattan,
the City of New York, or in the city of the Corporate Trust Office of the Trustee, are authorized or obligated by law, executive
order or regulation to close.

 

"Certificate" means a certificate
signed by any Officer. The Certificate need not comply with the provisions of Section 13.07.

 

"Company" means Hepion Pharmaceuticals,
Inc., a corporation duly organized and existing under the laws of the State of Delaware, and, subject to the provisions of Article
Ten, shall also include its successors and assigns.

 

"Corporate Trust Office" means
the office of the Trustee at which, at any particular time, its corporate trust business shall be principally administered, which
office at the date hereof is located at.

 

"Custodian" means any receiver,
trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

    	 	 -5-	 

    

    

 

"Default" means any event, act
or condition that with notice or lapse of time, or both, would constitute an Event of Default.

 

"Defaulted Interest" has the
meaning set forth in Section 2.03.

 

"Depositary" means, with respect
to Securities of any series for which the Company shall determine that such Securities will be issued as a Global Security, The
Depository Trust Company, another clearing agency, or any successor registered as a clearing agency under the Exchange Act, or
other applicable statute or regulation, which, in each case, shall be designated by the Company pursuant to either Section 2.01
or 2.11.

 

"Event of Default" means, with
respect to Securities of a particular series, any event specified in Section 6.01, continued for the period of time, if any, therein
designated.

 

"Exchange Act" means the Securities
and Exchange Act of 1934, as amended.

 

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

 

"Governmental Obligations" means
securities that are (a) direct obligations of the United States of America for the payment of which its full faith and credit is
pledged or (b) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States
of America, the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America
that, in either case, are not callable or redeemable at the option of the issuer thereof at any time prior to the stated maturity
of the Securities, and shall also include a depositary receipt issued by a bank or trust company as custodian with respect to any
such Governmental Obligation or a specific payment of principal of or interest on any such Governmental Obligation held by such
custodian for the account of the holder of such depositary receipt; provided, however, that (except as required by law) such custodian
is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received
by the custodian in respect of the Governmental Obligation or the specific payment of principal of or interest on the Governmental
Obligation evidenced by such depositary receipt.

 

"herein", "hereof"
and "hereunder", and other words of similar import, refer to this Indenture as a whole and not to any particular Article,
Section or other subdivision.

 

"Indenture" means this instrument
as originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto
entered into in accordance with the terms hereof.

 

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

 

"Officer" means, with respect
to the Company, the chairman of the Board of Directors, a chief executive officer, a president, a chief financial officer, a chief
operating officer, any executive vice president, any senior vice president, any vice president, the treasurer or any assistant
treasurer, the controller or any assistant controller or the secretary or any assistant secretary.

 

"Officer's Certificate" means
a certificate signed by any Officer. Each such certificate shall include the statements provided for in Section 13.07, if and to
the extent required by the provisions thereof.

 

"Opinion of Counsel" means an
opinion in writing subject to customary exceptions of legal counsel, who may be an employee of or counsel for the Company, that
is delivered to the Trustee in accordance with the terms hereof. Each such opinion shall include the statements provided for in
Section 13.07, if and to the extent required by the provisions thereof.

 

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

 

    	 	 -6-	 

    

    

 

"Person" means any individual,
corporation, partnership, joint venture, joint-stock company, limited liability company, association, trust, unincorporated organization,
any other entity or organization, including a government or political subdivision or an agency or instrumentality thereof.

 

"Predecessor Security" of any
particular Security means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular
Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 2.07 in lieu of a lost,
destroyed or stolen Security shall be deemed to evidence the same debt as the lost, destroyed or stolen Security.

 

"Responsible Officer" when used
with respect to the Trustee means the chairman of its board of directors, the chief executive officer, the president, any vice
president, the secretary, the treasurer, any trust officer, any corporate trust officer or any other officer or assistant officer
of the Trustee customarily performing functions similar to those performed by the Persons who at the time shall be such officers,
respectively, or to whom any corporate trust matter is referred because of his or her knowledge of and familiarity with the particular
subject.

 

"Securities" means the debt Securities
authenticated and delivered under this Indenture.

 

"Securityholder", "holder
of Securities", "registered holder", or other similar term, means the Person or Persons in whose name or names a
particular Security shall be registered on the books of the Company kept for that purpose in accordance with the terms of this
Indenture.

 

"Security Register" and "Security
Registrar" shall have the meanings as set forth in Section 2.05.

 

"Subsidiary" means, with respect
to any Person, (i) any corporation at least a majority of whose outstanding Voting Stock shall at the time be owned, directly or
indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries, (ii) any
general partnership, joint venture or similar entity, at least a majority of whose outstanding partnership or similar interests
shall at the time be owned by such Person, or by one or more of its Subsidiaries, or by such Person and one or more of its Subsidiaries
and (iii) any limited partnership of which such Person or any of its Subsidiaries is a general partner.

 

"Trustee" means , and, subject
to the provisions of Article Seven, shall also include its successors and assigns, and, if at any time there is more than one Person
acting in such capacity hereunder, "Trustee" shall mean each such Person. The term "Trustee" as used with respect
to a particular series of the Securities shall mean the trustee with respect to that series.

 

"Trust Indenture Act" means the
Trust Indenture Act of 1939, as amended.

 

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

 

    	 	 -7-	 

    

    

 

ARTICLE II

 

ISSUE, DESCRIPTION, TERMS, EXECUTION,
REGISTRATION AND EXCHANGE OF SECURITIES

 

Section 2.1 Designation and Terms of Securities.

 

(a) The aggregate principal amount of Securities
that may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more series up
to the aggregate principal amount of Securities of that series from time to time authorized by or pursuant to a Board Resolution
or pursuant to one or more indentures supplemental hereto. Prior to the initial issuance of Securities of any series, there shall
be established in or pursuant to a Board Resolution, and set forth in an Officer's Certificate, or established in one or more indentures
supplemental hereto:

 

(i) the title of the Securities of the series
(which shall distinguish the Securities of that series from all other Securities);

 

(ii) any limit upon the aggregate principal
amount of the Securities of that series that may be authenticated and delivered under this Indenture (except for Securities authenticated
and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of that series);

 

(iii) the date or dates on which the principal
of the Securities of the series is payable, any original issue discount that may apply to the Securities of that series upon their
issuance, the principal amount due at maturity, and the place(s) of payment;

 

(iv) the rate or rates at which the Securities
of the series shall bear interest or the manner of calculation of such rate or rates, if any;

 

(v) the date or dates from which such interest
shall accrue, the Interest Payment Dates on which such interest will be payable or the manner of determination of such Interest
Payment Dates, the place(s) of payment, and the record date for the determination of holders to whom interest is payable on any
such Interest Payment Dates or the manner of determination of such record dates;

 

(vi) the right, if any, to extend the interest
payment periods and the duration of such extension;

 

(vii) the period or periods within which,
the price or prices at which and the terms and conditions upon which Securities of the series may be redeemed, in whole or in part,
at the option of the Company;

 

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

 

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

 

(x) if other than denominations of one thousand
U.S. dollars ($1,000) or any integral multiple thereof, the denominations in which the Securities of the series shall be issuable;

 

(xi) any and all other terms (including terms,
to the extent applicable, relating to any auction or remarketing of the Securities of that series and any security for the obligations
of the Company with respect to such Securities) with respect to such series (which terms shall not be inconsistent with the terms
of this Indenture, as amended by any supplemental indenture) including any terms which may be required by or advisable under United
States laws or regulations or advisable in connection with the marketing of Securities of that series;

 

(xii) whether the Securities are issuable
as a Global Security and, in such case, the terms and the identity of the Depositary for such series;

 

    	 	 -8-	 

    

    

 

(xiii) whether the Securities will be convertible
into or exchangeable for shares of common stock, preferred stock or other securities of the Company or any other Person and, if
so, the terms and conditions upon which such Securities will be so convertible or exchangeable, including the conversion or exchange
price, as applicable, or how it will be calculated and may be adjusted, any mandatory or optional (at the Company's option or the
holders' option) conversion or exchange features, and the applicable conversion or exchange period;

 

(xiv) if other than the principal amount
thereof, the portion of the principal amount of Securities of the series which shall be payable upon declaration of acceleration
of the maturity thereof pursuant to Section 6.01;

 

(xv) any additional or different Events of
Default or restrictive covenants (which may include, among other restrictions, restrictions on the Company's ability or the ability
of the Company's Subsidiaries to: incur additional indebtedness; issue additional securities; create liens; pay dividends or make
distributions in respect of the capital stock of the Company or the Company's Subsidiaries; redeem capital stock; place restrictions
on the Company's Subsidiaries' ability to pay dividends, make distributions or transfer assets; make investments or other restricted
payments; sell or otherwise dispose of assets; enter into sale- leaseback transactions; engage in transactions with stockholders
or affiliates; issue or sell stock of the Company's Subsidiaries; or effect a consolidation or merger) or financial covenants (which
may include, among other financial covenants, financial covenants that require the Company and its Subsidiaries to maintain specified
interest coverage, fixed charge, cash flow-based, asset-based or other financial ratios) provided for with respect to the Securities
of the series;

 

(xvi) if other than dollars, the coin or
currency in which the Securities of the series are denominated (including, but not limited to, foreign currency);

 

(xvii) the terms and conditions, if any,
upon which the Company shall pay amounts in addition to the stated interest, premium, if any and principal amounts of the Securities
of the series to any Securityholder that is not a "United States person" for federal tax purposes; and

 

(xviii) any restrictions on transfer, sale
or assignment of the Securities of the series.

 

All Securities of any one series shall
be substantially identical except as may otherwise be provided in or pursuant to any such Board Resolution or in any indentures
supplemental hereto.

 

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

 

Securities of any particular series may
be issued at various times, with different dates on which the principal or any installment of principal is payable, with different
rates of interest, if any, or different methods by which rates of interest may be determined, with different dates on which such
interest may be payable and with different redemption dates.

 

Section 2.2 Form of Securities and Trustee's
Certificate.

 

The Securities of any series and the Trustee's
certificate of authentication to be borne by such Securities shall be substantially of the tenor and purport as set forth in one
or more indentures supplemental hereto or as provided in a Board Resolution, and set forth in an Officer's Certificate, and they
may have such letters, numbers or other marks of identification or designation and such legends or endorsements printed, lithographed
or engraved thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this Indenture, or as
may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any
securities exchange on which Securities of that series may be listed, or to conform to usage.

 

Section 2.3 Denominations: Provisions
for Payment.

 

The Securities shall be issuable as registered
Securities and in the denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, subject to Section
2.01(a)(10).

 

The Securities of a particular series shall
bear interest payable on the dates and at the rate specified with respect to that series. Subject to Section 2.01(a)(16), the principal
of and the interest on the Securities of any series, as well as any premium thereon in case of redemption thereof prior to maturity,
shall be payable in the coin or currency of the United States of America that at the time is legal tender for public and private
debt, at the office or agency of the Company maintained for that purpose.

 

    	 	 -9-	 

    

    

 

Each Security shall be dated the date of its authentication.
Interest on the Securities shall be computed on the basis of a 360-day year composed of twelve 30-day months.

 

The interest installment on any Security
that is payable, and is punctually paid or duly provided for, on any Interest Payment Date for Securities of that series shall
be paid to the Person in whose name said Security (or one or more Predecessor Securities) is registered at the close of business
on the regular record date for such interest installment. In the event that any Security of a particular series or portion thereof
is called for redemption and the redemption date is subsequent to a regular record date with respect to any Interest Payment Date
and prior to such Interest Payment Date, interest on such Security will be paid upon presentation and surrender of such Security
as provided in Section 3.03.

 

Any interest on any Security that is payable,
but is not punctually paid or duly provided for, on any Interest Payment Date for Securities of the same series (herein called
 "Defaulted Interest") shall forthwith cease to be payable to the registered holder on the relevant regular record date
by virtue of having been such holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided in
clause (1) or clause (2) below:

 

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

 

(ii) The Company may make payment of any
Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange
on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the
Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the
Trustee.

 

Unless otherwise set forth in a Board Resolution
or one or more indentures supplemental hereto establishing the terms of any series of Securities pursuant to Section 2.01 hereof,
the term "regular record date" as used in this Section with respect to a series of Securities and any Interest Payment
Date for such series shall mean either the fifteenth day of the month immediately preceding the month in which an Interest Payment
Date established for such series pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date is the first day of
a month, or the first day of the month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof
shall occur, if such Interest Payment Date is the fifteenth day of a month, whether or not such date is a Business Day.

 

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

 

Section 2.4 Execution and Authentications
..

 

The Securities shall be signed on behalf
of the Company by one of its Officers. Signatures may be in the form of a manual or facsimile signature.

 

The Company may use the facsimile signature
of any Person who shall have been an Officer, notwithstanding the fact that at the time the Securities shall be authenticated and
delivered or disposed of such Person shall have ceased to be such an officer of the Company. The Securities may contain such notations,
legends or endorsements required by law, stock exchange rule or usage. Each Security shall be dated the date of its authentication
by the Trustee.

 

    	 	 -10-	 

    

    

 

A Security shall not be valid until authenticated
manually by an authorized signatory of the Trustee, or by an Authenticating Agent. Such signature shall be conclusive evidence
that the Security so authenticated has been duly authenticated and delivered hereunder and that the holder is entitled to the benefits
of this Indenture. At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver
Securities of any series executed by the Company to the Trustee for authentication, together with a written order of the Company
for the authentication and delivery of such Securities, signed by an Officer, and the Trustee in accordance with such written order
shall authenticate and deliver such Securities.

 

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

 

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

 

Section 2.5 Registration of Transfer and Exchange.

 

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

 

(b) The Company shall keep, or cause to
be kept, at its office or agency designated for such purpose a register or registers (herein referred to as the "Security
Register") in which, subject to such reasonable regulations as it may prescribe, the Company shall register the Securities
and the transfers of Securities as in this Article provided and which at all reasonable times shall be open for inspection by the
Trustee. The registrar for the purpose of registering Securities and transfer of Securities as herein provided shall be appointed
as authorized by Board Resolution (the "Security Registrar").

 

Upon surrender for transfer of any Security
at the office or agency of the Company designated for such purpose, the Company shall execute, the Trustee shall authenticate and
such office or agency shall deliver in the name of the transferee or transferees a new Security or Securities of the same series
as the Security presented for a like aggregate principal amount.

 

All Securities presented or surrendered
for exchange or registration of transfer, as provided in this Section, shall be accompanied (if so required by the Company or the
Security Registrar) by a written instrument or instruments of transfer, in form satisfactory to the Company or the Security Registrar,
duly executed by the registered holder or by such holder's duly authorized attorney in writing.

 

(c) Except as provided pursuant to Section
2.01 pursuant to a Board Resolution, and set forth in an Officer's Certificate, or established in one or more indentures supplemental
to this Indenture, no service charge shall be made for any exchange or registration of transfer of Securities, or issue of new
Securities in case of partial redemption of any series, but the Company may require payment of a sum sufficient to cover any tax
or other governmental charge in relation thereto, other than exchanges pursuant to Section 2.06, Section 3.03(b) and Section 9.04
not involving any transfer.

 

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

 

    	 	 -11-	 

    

    

 

Section 2.6 Temporary Securities.

 

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

 

Section 2.7 Mutilated, Destroyed, Lost
or Stolen Securities.

 

In case any temporary or definitive Security
shall become mutilated or be destroyed, lost or stolen, the Company (subject to the next succeeding sentence) shall execute, and
upon the Company's request the Trustee (subject as aforesaid) shall authenticate and deliver, a new Security of the same series,
bearing a number not contemporaneously outstanding, in exchange and substitution for the mutilated Security, or in lieu of and
in substitution for the Security so destroyed, lost or stolen. In every case the applicant for a substituted Security shall furnish
to the Company and the Trustee such security or indemnity as may be required by them to save each of them harmless, and, in every
case of destruction, loss or theft, the applicant shall also furnish to the Company and the Trustee evidence to their satisfaction
of the destruction, loss or theft of the applicant's Security and of the ownership thereof. The Trustee may authenticate any such
substituted Security and deliver the same upon the written request or authorization of any officer of the Company. Upon the issuance
of any substituted Security, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge
that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith.

 

In case any Security that has matured or
is about to mature shall become mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a substitute Security,
pay or authorize the payment of the same (without surrender thereof except in the case of a mutilated Security) if the applicant
for such payment shall furnish to the Company and the Trustee such security or indemnity as they may require to save them harmless,
and, in case of destruction, loss or theft, evidence to the satisfaction of the Company and the Trustee of the destruction, loss
or theft of such Security and of the ownership thereof.

 

Every replacement Security issued pursuant
to the provisions of this Section shall constitute an additional contractual obligation of the Company whether or not the mutilated,
destroyed, lost or stolen Security shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits
of this Indenture equally and proportionately with any and all other Securities of the same series duly issued hereunder. All Securities
shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement
or payment of mutilated, destroyed, lost or stolen Securities, and shall preclude (to the extent lawful) any and all other rights
or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or
payment of negotiable instruments or other securities without their surrender.

 

Section 2.8 Cancellation.

 

All Securities surrendered for the purpose
of payment, redemption, exchange or registration of transfer shall, if surrendered to the Company or any paying agent, be delivered
to the Trustee for cancellation, or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued
in lieu thereof except as expressly required or permitted by any of the provisions of this Indenture. On request of the Company
at the time of such surrender, the Trustee shall deliver to the Company canceled Securities held by the Trustee. In the absence
of such request the Trustee may dispose of canceled Securities in accordance with its standard procedures and deliver a certificate
of disposition to the Company. If the Company shall otherwise acquire any of the Securities, however, such acquisition shall not
operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered
to the Trustee for cancellation.

 

    	 	 -12-	 

    

    

 

Section 2.9 Benefits of Indenture.

 

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

 

Section 2.10 Authenticating Agent.

 

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

 

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

 

Section 2.11 Global Securities.

 

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

 

(b) Notwithstanding the provisions of Section
2.05, the Global Security of a series may be transferred, in whole but not in part and in the manner provided in Section 2.05,
only to another nominee of the Depositary for such series, or to a successor Depositary for such series selected or approved by
the Company or to a nominee of such successor Depositary.

 

(c) If at any time the Depositary for a
series of the Securities notifies the Company that it is unwilling or unable to continue as Depositary for such series or if at
any time the Depositary for such series shall no longer be registered or in good standing under the Exchange Act, or other applicable
statute or regulation, and a successor Depositary for such series is not appointed by the Company within 90 days after the Company
receives such notice or becomes aware of such condition, as the case may be, or if an Event of Default has occurred and is continuing
and the Company has received a request from the Depositary or from the Trustee, this Section 2.11 shall no longer be applicable
to the Securities of such series and the Company will execute, and subject to Section 2.04, the Trustee will authenticate and deliver
the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate principal
amount equal to the principal amount of the Global Security of such series in exchange for such Global Security. In addition, the
Company may at any time determine that the Securities of any series shall no longer be represented by a Global Security and that
the provisions of this Section 2.11 shall no longer apply to the Securities of such series. In such event the Company will execute
and, subject to Section 2.04, the Trustee, upon receipt of an Officer's Certificate evidencing such determination by the Company,
will authenticate and deliver the Securities of such series in definitive registered form without coupons, in authorized denominations,
and in an aggregate principal amount equal to the principal amount of the Global Security of such series in exchange for such Global
Security. Upon the exchange of the Global Security for such Securities in definitive registered form without coupons, in authorized
denominations, the Global Security shall be canceled by the Trustee. Such Securities in definitive registered form issued in exchange
for the Global Security pursuant to this Section 2.11(c) shall be registered in such names and in such authorized denominations
as the Depositary, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee.
The Trustee shall deliver such Securities to the Depositary for delivery to the Persons in whose names such Securities are so registered.

 

    	 	 -13-	 

    

    

 

ARTICLE III

 

REDEMPTION OF SECURITIES AND SINKING
FUND PROVISIONS

 

Section 3.1 Redemption.

 

The Company may redeem the Securities of
any series issued hereunder on and after the dates and in accordance with the terms established for such series pursuant to Section
2.01 hereof.

 

Section 3.2 Notice of Redemption
..

 

(a) In case the Company shall desire to
exercise such right to redeem all or, as the case may be, a portion of the Securities of any series in accordance with any right
the Company reserved for itself to do so pursuant to Section 2.01 hereof, the Company shall, or shall cause the Trustee to, give
notice of such redemption to holders of the Securities of such series to be redeemed by mailing, first class postage prepaid, a
notice of such redemption not less than 30 days and not more than 90 days before the date fixed for redemption of that series to
such holders at their last addresses as they shall appear upon the Security Register, unless a shorter period is specified in the
Securities to be redeemed. Any notice that is mailed in the manner herein provided shall be conclusively presumed to have been
duly given, whether or not the registered holder receives the notice. In any case, failure duly to give such notice to the holder
of any Security of any series designated for redemption in whole or in part, or any defect in the notice, shall not affect the
validity of the proceedings for the redemption of any other Securities of such series or any other series. In the case of any redemption
of Securities prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere
in this Indenture, the Company shall furnish the Trustee with an Officer's Certificate evidencing compliance with any such restriction.

 

Each such notice of redemption shall specify
the date fixed for redemption and the redemption price at which Securities of that series are to be redeemed, and shall state that
payment of the redemption price of such Securities to be redeemed will be made at the office or agency of the Company, upon presentation
and surrender of such Securities, that interest accrued to the date fixed for redemption will be paid as specified in said notice,
that from and after said date interest will cease to accrue and that the redemption is from a sinking fund, if such is the case.
If less than all the Securities of a series are to be redeemed, the notice to the holders of Securities of that series to be redeemed
in part shall specify the particular Securities to be so redeemed.

 

In case any Security is to be redeemed
in part only, the notice that relates to such Security shall state the portion of the principal amount thereof to be redeemed,
and shall state that on and after the redemption date, upon surrender of such Security, a new Security or Securities of such series
in principal amount equal to the unredeemed portion thereof will be issued.

 

(b) If less than all the Securities of
a series are to be redeemed, the Company shall give the Trustee at least 45 days' notice (unless a shorter notice shall be satisfactory
to the Trustee) in advance of the date fixed for redemption as to the aggregate principal amount of Securities of the series to
be redeemed, and thereupon the Trustee shall select, by lot or in such other manner as it shall deem appropriate and fair in its
discretion and that may provide for the selection of a portion or portions (equal to one thousand U.S. dollars ($1,000) or any
integral multiple thereof) of the principal amount of such Securities of a denomination larger than $1,000, the Securities to be
redeemed and shall thereafter promptly notify the Company in writing of the numbers of the Securities to be redeemed, in whole
or in part. The Company may, if and whenever it shall so elect, by delivery of instructions signed on its behalf by an Officer,
instruct the Trustee or any paying agent to call all or any part of the Securities of a particular series for redemption and to
give notice of redemption in the manner set forth in this Section, such notice to be in the name of the Company or its own name
as the Trustee or such paying agent may deem advisable. In any case in which notice of redemption is to be given by the Trustee
or any such paying agent, the Company shall deliver or cause to be delivered to, or permit to remain with, the Trustee or such
paying agent, as the case may be, such Security Register, transfer books or other records, or suitable copies or extracts therefrom,
sufficient to enable the Trustee or such paying agent to give any notice by mail that may be required under the provisions of this
Section.

 

    	 	 -14-	 

    

    

 

Section 3.3 Payment Upon Redemption.

 

(a) If the giving of notice of redemption
shall have been completed as above provided, the Securities or portions of Securities of the series to be redeemed specified in
such notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price,
together with interest accrued to the date fixed for redemption and interest on such Securities or portions of Securities shall
cease to accrue on and after the date fixed for redemption, unless the Company shall default in the payment of such redemption
price and accrued interest with respect to any such Security or portion thereof. On presentation and surrender of such Securities
on or after the date fixed for redemption at the place of payment specified in the notice, said Securities shall be paid and redeemed
at the applicable redemption price for such series, together with interest accrued thereon to the date fixed for redemption (but
if the date fixed for redemption is an interest payment date, the interest installment payable on such date shall be payable to
the registered holder at the close of business on the applicable record date pursuant to Section 2.03).

 

(b) Upon presentation of any Security of
such series that is to be redeemed in part only, the Company shall execute and the Trustee shall authenticate and the office or
agency where the Security is presented shall deliver to the holder thereof, at the expense of the Company, a new Security of the
same series of authorized denominations in principal amount equal to the unredeemed portion of the Security so presented.

 

Section 3.4 Sinking Fund.

 

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

 

The minimum amount of any sinking fund
payment provided for by the terms of Securities of any series is herein referred to as a "mandatory sinking fund payment,"
and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as
an "optional sinking fund payment". If provided for by the terms of Securities of any series, the cash amount of any
sinking fund payment may be subject to reduction as provided in Section 3.05. Each sinking fund payment shall be applied to the
redemption of Securities of any series as provided for by the terms of Securities of such series.

 

Section 3.5 Satisfaction of Sinking Fund Payments
with Securities.

 

The Company (i) may deliver Outstanding
Securities of a series and (ii) may apply as a credit Securities of a series that have been redeemed either at the election of
the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant
to the terms of such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to the
Securities of such series required to be made pursuant to the terms of such Securities as provided for by the terms of such series,
provided that such Securities have not been previously so credited. Such Securities shall be received and credited for such purpose
by the Trustee at the redemption price specified in such Securities for redemption through operation of the sinking fund and the
amount of such sinking fund payment shall be reduced accordingly.

 

Section 3.6 Redemption of Securities for Sinking
Fund.

 

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

 

    	 	 -15-	 

    

    

 

ARTICLE IV

 

COVENANTS

 

Section 4.1 Payment of Principal, Premium and Interest.

 

The Company will duly and punctually pay
or cause to be paid the principal of (and premium, if any) and interest on the Securities of that series at the time and place
and in the manner provided herein and established with respect to such Securities. Payments of principal on the Securities may
be made at the time provided herein and established with respect to such Securities by U.S. dollar check drawn on and mailed to
the address of the Securityholder entitled thereto as such address shall appear in the Security Register, or U.S. dollar wire transfer
to, a U.S. dollar account (such wire transfer to be made only to a Securityholder of an aggregate principal amount of Securities
of the applicable series in excess of U.S. $2,000,000 and only if such Securityholder shall have furnished wire instructions to
the Trustee no later than 15 days prior to the relevant payment date). Payments of interest on the Securities may be made at the
time provided herein and established with respect to such Securities by U.S. dollar check mailed to the address of the Securityholder
entitled thereto as such address shall appear in the Security Register, or U.S. dollar wire transfer to, a U.S. dollar account
(such a wire transfer to be made only to a Securityholder of an aggregate principal amount of Securities of the applicable series
in excess of U.S. $2,000,000 and only if such Securityholder shall have furnished wire instructions in writing to the Security
Registrar and the Trustee no later than 15 days prior to the relevant payment date.

 

Section 4.2 Maintenance of Office or Agency.

 

So long as any series of the Securities
remain Outstanding, the Company agrees to maintain an office or agency with respect to each such series and at such other location
or locations as may be designated as provided in this Section 4.02, where (i) Securities of that series may be presented for payment,
(ii) Securities of that series may be presented as herein above authorized for registration of transfer and exchange, and (iii)
notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be given or served,
such designation to continue with respect to such office or agency until the Company shall, by written notice signed by any officer
authorized to sign an Officer's Certificate and delivered to the Trustee, designate some other office or agency for such purposes
or any of them. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the
Trustee with the address thereof, such presentations, notices and demands may be made or served at the Corporate Trust Office of
the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations, notices and demands. The
Company initially appoints the Corporate Trust Office of the Trustee as its paying agent with respect to the Securities.

 

Section 4.3 Paying Agents.

 

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

 

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

 

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

 

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

 

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

 

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

 

    	 	 -16-	 

    

    

 

(c) Notwithstanding anything in this Section
to the contrary, (i) the agreement to hold sums in trust as provided in this Section is subject to the provisions of Section 11.05,
and (ii) the Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any
other purpose, pay, or direct any paying agent to pay, to the Trustee all sums held in trust by the Company or such paying agent,
such sums to be held by the Trustee upon the same terms and conditions as those upon which such sums were held by the Company or
such paying agent; and, upon such payment by the Company or any paying agent to the Trustee, the Company or such paying agent shall
be released from all further liability with respect to such money.

 

Section 4.4 Appointment to Fill Vacancy in Office
of Trustee.

 

The Company, whenever necessary to avoid
or fill a vacancy in the office of Trustee, will appoint, in the manner provided in Section 7.10, a Trustee, so that there shall
at all times be a Trustee hereunder.

 

Section 4.5 Compliance with Consolidation Provisions.

 

The Company will not, while any of the
Securities remain Outstanding, consolidate with or merge into any other Person, in either case where the Company is not the survivor
of such transaction, or sell or convey all or substantially all of its property to any other Person unless the provisions of Article
Ten hereof are complied with.

 

ARTICLE V

 

SECURITYHOLDERS' LISTS AND REPORTS BY
THE COMPANY AND THE TRUSTEE

 

Section 5.1 Company to Furnish Trustee Names and
Addresses of Securityholders.

 

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

 

Section 5.2 Preservation Of Information;
Communications With Securityholders.

 

(a) The Trustee shall preserve, in as current
a form as is reasonably practicable, all information as to the names and addresses of the holders of Securities contained in the
most recent list furnished to it as provided in Section 5.01 and as to the names and addresses of holders of Securities received
by the Trustee in its capacity as Security Registrar (if acting in such capacity).

 

(b) The Trustee may destroy any list furnished
to it as provided in Section 5.01 upon receipt of a new list so furnished.

 

(c) Securityholders may communicate as
provided in Section 312(b) of the Trust Indenture Act with other Securityholders with respect to their rights under this Indenture
or under the Securities, and, in connection with any such communications, the Trustee shall satisfy its obligations under Section
312(b) of the Trust Indenture Act in accordance with the provisions of Section 312(b) of the Trust Indenture Act.

 

    	 	 -17-	 

    

    

 

Section 5.3 Reports by the Company.

 

The Company covenants and agrees to provide
(which delivery may be via electronic mail) to the Trustee, after the Company files the same with the Securities and Exchange Commission,
copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing
as the Securities and Exchange Commission may from time to time by rules and regulations prescribe) that the Company files with
the Securities and Exchange Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; provided, however, the Company
shall not be required to deliver to the Trustee any materials for which the Company has sought and received confidential treatment
by the Securities and Exchange Commission; and provided further, so long as such filings by the Company are available on the Securities
and Exchange Commission's Electronic Data Gathering, Analysis and Retrieval System (EDGAR), such filings shall be deemed to have
been filed with the Trustee for purposes of this Section 5.03 without any further action required by the Company.

 

Section 5.4 Reports by the Trustee.

 

(a) If required by Section 313(a) of the
Trust Indenture Act, the Trustee, within sixty (60) days after each May 1, shall transmit by mail, first class postage prepaid,
to the Securityholders, as their names and addresses appear upon the Security Register, a brief report dated as of such May 1,
which complies with Section 313(a) of the Trust Indenture Act.

 

(b) The Trustee shall comply with Section
313(b) and 313(c) of the Trust Indenture Act.

 

(c) A copy of each such report shall, at
the time of such transmission to Securityholders, be filed by the Trustee with the Company, with each securities exchange upon
which any Securities are listed (if so listed) and also with the Securities and Exchange Commission. The Company agrees to notify
the Trustee when any Securities become listed on any securities exchange.

 

    	 	 -18-	 

    

    

 

ARTICLE VI

 

REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS
ON EVENT OF DEFAULT

 

Section 6.1 Events of Default.

 

(a) Whenever used herein with respect to
Securities of a particular series, "Event of Default" means any one or more of the following events that has occurred
and is continuing:

 

(i) the Company defaults in the payment of
any installment of interest upon any of the Securities of that series, as and when the same shall become due and payable, and such
default continues for a period of 90 days; provided, however, that a valid extension of an interest payment period by the Company
in accordance with the terms of any indenture supplemental hereto shall not constitute a default in the payment of interest for
this purpose;

 

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

 

(iii) the Company fails to observe or perform
any other of its covenants or agreements with respect to that series contained in this Indenture or otherwise established with
respect to that series of Securities pursuant to Section 2.01 hereof (other than a covenant or agreement that has been expressly
included in this Indenture solely for the benefit of one or more series of Securities other than such series) for a period of 90
days after the date on which written notice of such failure, requiring the same to be remedied and stating that such notice is
a "Notice of Default" hereunder, shall have been given to the Company by the Trustee, by registered or certified mail,
or to the Company and the Trustee by the holders of at least 25% in principal amount of the Securities of that series at the time
Outstanding;

 

(iv) the Company pursuant to or within the
meaning of any Bankruptcy Law (i) commences a voluntary case, (ii) consents to the entry of an order for relief against it in an
involuntary case, (iii) consents to the appointment of a Custodian of it or for all or substantially all of its property or (iv)
makes a general assignment for the benefit of its creditors; or

 

(v) a court of competent jurisdiction enters
an order under any Bankruptcy Law that (i) is for relief against the Company in an involuntary case, (ii) appoints a Custodian
of the Company for all or substantially all of its property or (iii) orders the liquidation of the Company, and the order or decree
remains unstayed and in effect for 90 days.

 

    	 	 -19-	 

    

    

 

(b) In each and every such case (other
than an Event of Default specified in clause (4) or clause (5) above), unless the principal of all the Securities of that series
shall have already become due and payable, either the Trustee or the holders of not less than 25% in aggregate principal amount
of the Securities of that series then Outstanding hereunder, by notice in writing to the Company (and to the Trustee if given by
such Securityholders), may declare the principal of (and premium, if any, on) and accrued and unpaid interest on all the Securities
of that series to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately
due and payable. If an Event of Default specified in clause (4) or clause (5) above occurs, the principal of and accrued and unpaid
interest on all the Securities of that series shall automatically be immediately due and payable without any declaration or other
act on the part of the Trustee or the holders of the Securities.

 

(c) At any time after the principal of
(and premium, if any, on) and accrued and unpaid interest on the Securities of that series shall have been so declared due and
payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter
provided, the holders of a majority in aggregate principal amount of the Securities of that series then Outstanding hereunder,
by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if: (i) the Company
has paid or deposited with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of
that series and the principal of (and premium, if any, on) any and all Securities of that series that shall have become due otherwise
than by acceleration (with interest upon such principal and premium, if any, and, to the extent that such payment is enforceable
under applicable law, upon overdue installments of interest, at the rate per annum expressed in the Securities of that series to
the date of such payment or deposit) and the amount payable to the Trustee under Section 7.06, and (ii) any and all Events of Default
under the Indenture with respect to such series, other than the nonpayment of principal on (and premium, if any, on) and accrued
and unpaid interest on Securities of that series that shall not have become due by their terms, shall have been remedied or waived
as provided in Section 6.06.

 

No such rescission and annulment shall
extend to or shall affect any subsequent default or impair any right consequent thereon.

 

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

 

Section 6.2 Collection of Indebtedness and Suits
for Enforcement by Trustee.

 

(a) The Company covenants that (i) in case
it shall default in the payment of any installment of interest on any of the Securities of a series, or in any payment required
by any sinking or analogous fund established with respect to that series as and when the same shall have become due and payable,
and such default shall have continued for a period of 90 days, or (ii) in case it shall default in the payment of the principal
of (or premium, if any, on) any of the Securities of a series when the same shall have become due and payable, whether upon maturity
of the Securities of a series or upon redemption or upon declaration or otherwise then, upon demand of the Trustee, the Company
will pay to the Trustee, for the benefit of the holders of the Securities of that series, the whole amount that then shall have
been become due and payable on all such Securities for principal (and premium, if any) or interest, or both, as the case may be,
with interest upon the overdue principal (and premium, if any) and (to the extent that payment of such interest is enforceable
under applicable law) upon overdue installments of interest at the rate per annum expressed in the Securities of that series; and,
in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, and the amount payable
to the Trustee under Section 7.06.

 

(b) If the Company shall fail to pay such
amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, shall be entitled and empowered
to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute
any such action or proceeding to judgment or final decree, and may enforce any such judgment or final decree against the Company
or other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided
by law or equity out of the property of the Company or other obligor upon the Securities of that series, wherever situated.

 

    	 	 -20-	 

    

    

 

(c) In case of any receivership, insolvency,
liquidation, bankruptcy, reorganization, readjustment, arrangement, composition or judicial proceedings affecting the Company,
or its creditors or property, the Trustee shall have power to intervene in such proceedings and take any action therein that may
be permitted by the court and shall (except as may be otherwise provided by law) be entitled to file such proofs of claim and other
papers and documents as may be necessary or advisable in order to have the claims of the Trustee and of the holders of Securities
of such series allowed for the entire amount due and payable by the Company under the Indenture at the date of institution of such
proceedings and for any additional amount that may become due and payable by the Company after such date, and to collect and receive
any moneys or other property payable or deliverable on any such claim, and to distribute the same after the deduction of the amount
payable to the Trustee under Section 7.06; and any receiver, assignee or trustee in bankruptcy or reorganization is hereby authorized
by each of the holders of Securities of such series to make such payments to the Trustee, and, in the event that the Trustee shall
consent to the making of such payments directly to such Securityholders, to pay to the Trustee any amount due it under Section
7.06.

 

(d) All rights of action and of asserting
claims under this Indenture, or under any of the terms established with respect to Securities of that series, may be enforced by
the Trustee without the possession of any of such Securities, or the production thereof at any trial or other proceeding relative
thereto, and any such suit or proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust,
and any recovery of judgment shall, after provision for payment to the Trustee of any amounts due under Section 7.06, be for the
ratable benefit of the holders of the Securities of such series.

 

In case of an Event of Default hereunder,
the Trustee may in its discretion proceed to protect and enforce the rights vested in it by this Indenture by such appropriate
judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in equity
or in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in the Indenture or
in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee
by this Indenture or by law.

 

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

 

Section 6.3 Application of Moneys Collected.

 

Any moneys collected by the Trustee pursuant
to this Article with respect to a particular series of Securities shall be applied in the following order, at the date or dates
fixed by the Trustee and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest,
upon presentation of the Securities of that series, and notation thereon of the payment, if only partially paid, and upon surrender
thereof if fully paid:

 

FIRST: To the payment of reasonable costs
and expenses of collection and of all amounts payable to the Trustee under Section 7.06;

 

SECOND: To the payment of the amounts then
due and unpaid upon Securities of such series for principal (and premium, if any) and interest, in respect of which or for the
benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due
and payable on such Securities for principal (and premium, if any) and interest, respectively; and

 

THIRD: To the payment of the remainder,
if any, to the Company or any other Person lawfully entitled thereto.

 

Section 6.4 Limitation on Suits.

 

No holder of any Security of any series
shall have any right by virtue or by availing of any provision of this Indenture to institute any suit, action or proceeding in
equity or at law upon or under or with respect to this Indenture or for the appointment of a receiver or trustee, or for any other
remedy hereunder, unless (i) such holder previously shall have given to the Trustee written notice of an Event of Default and of
the continuance thereof with respect to the Securities of such series specifying such Event of Default, as hereinbefore provided;
(ii) the holders of not less than 25% in aggregate principal amount of the Securities of such series then Outstanding shall have
made written request upon the Trustee to institute such action, suit or proceeding in its own name as Trustee hereunder; (iii)
such holder or holders shall have offered to the Trustee such reasonable indemnity as it may require against the costs, expenses
and liabilities to be incurred therein or thereby; (iv) the Trustee for 90 days after its receipt of such notice, request and offer
of indemnity, shall have failed to institute any such action, suit or proceeding and (v) during such 90 day period, the holders
of a majority in principal amount of the Securities of that series do not give the Trustee a direction inconsistent with the request.

 

Notwithstanding anything contained herein
to the contrary or any other provisions of this Indenture, the right of any holder of any Security to receive payment of the principal
of (and premium, if any) and interest on such Security, as therein provided, on or after the respective due dates expressed in
such Security (or in the case of redemption, on the redemption date), or to institute suit for the enforcement of any such payment
on or after such respective dates or redemption date, shall not be impaired or affected without the consent of such holder and
by accepting a Security hereunder it is expressly understood, intended and covenanted by the taker and holder of every Security
of such series with every other such taker and holder and the Trustee, that no one or more holders of Securities of such series
shall have any right in any manner whatsoever by virtue or by availing of any provision of this Indenture to affect, disturb or
prejudice the rights of the holders of any other of such Securities, or to obtain or seek to obtain priority over or preference
to any other such holder, or to enforce any right under this Indenture, except in the manner herein provided and for the equal,
ratable and common benefit of all holders of Securities of such series. For the protection and enforcement of the provisions of
this Section, each and every Securityholder and the Trustee shall be entitled to such relief as can be given either at law or in
equity.

 

    	 	 -21-	 

    

    

 

Section 6.5 Rights and Remedies Cumulative; Delay
or Omission Not Waiver.

 

(a) Except as otherwise provided in Section
2.07, all powers and remedies given by this Article to the Trustee or to the Securityholders shall, to the extent permitted by
law, be deemed cumulative and not exclusive of any other powers and remedies available to the Trustee or the holders of the Securities,
by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this
Indenture or otherwise established with respect to such Securities.

 

(b) No delay or omission of the Trustee
or of any holder of any of the Securities to exercise any right or power accruing upon any Event of Default occurring and continuing
as aforesaid shall impair any such right or power, or shall be construed to be a waiver of any such default or an acquiescence
therein; and, subject to the provisions of Section 6.04, every power and remedy given by this Article or by law to the Trustee
or the Securityholders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the
Securityholders.

 

Section 6.6 Control by Securityholders.

 

The holders of a majority in aggregate
principal amount of the Securities of any series at the time Outstanding, determined in accordance with Section 8.04, shall have
the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising
any trust or power conferred on the Trustee with respect to such series; provided, however, that such direction shall not be in
conflict with any rule of law or with this Indenture. Subject to the provisions of Section 7.01, the Trustee shall have the right
to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer or officers of the Trustee,
determine that the proceeding so directed, subject to the Trustee's duties under the Trust Indenture Act, would involve the Trustee
in personal liability or might be unduly prejudicial to the Securityholders not involved in the proceeding. The holders of a majority
in aggregate principal amount of the Securities of any series at the time Outstanding affected thereby, determined in accordance
with Section 8.04, may on behalf of the holders of all of the Securities of such series waive any past default in the performance
of any of the covenants contained herein or established pursuant to Section 2.01 with respect to such series and its consequences,
except a default in the payment of the principal of, or premium, if any, or interest on, any of the Securities of that series as
and when the same shall become due by the terms of such Securities otherwise than by acceleration (unless such default has been
cured and a sum sufficient to pay all matured installments of interest and principal and any premium has been deposited with the
Trustee (in accordance with Section 6.01(c)). Upon any such waiver, the default covered thereby shall be deemed to be cured for
all purposes of this Indenture and the Company, the Trustee and the holders of the Securities of such series shall be restored
to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other default
or impair any right consequent thereon.

 

Section 6.7 Undertaking to Pay Costs.

 

All parties to this Indenture agree, and
each holder of any Securities by such holder's acceptance thereof shall be deemed to have agreed, that any court may in its discretion
require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any
action taken or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such
suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys' fees, against any party
litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but
the provisions of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder,
or group of Securityholders, holding more than 10% in aggregate principal amount of the Outstanding Securities of any series, or
to any suit instituted by any Securityholder for the enforcement of the payment of the principal of (or premium, if any) or interest
on any Security of such series, on or after the respective due dates expressed in such Security or established pursuant to this
Indenture.

 

    	 	 -22-	 

    

    

 

ARTICLE VII

 

CONCERNING THE TRUSTEE

 

Section 7.1 Certain Duties and Responsibilities
of Trustee.

 

(a) The Trustee, prior to the occurrence
of an Event of Default with respect to the Securities of a series and after the curing of all Events of Default with respect to
the Securities of that series that may have occurred, shall undertake to perform with respect to the Securities of such series
such duties and only such duties as are specifically set forth in this Indenture, and no implied covenants shall be read into this
Indenture against the Trustee. In case an Event of Default with respect to the Securities of a series has occurred (that has not
been cured or waived), the Trustee shall exercise with respect to Securities of that series such of the rights and powers vested
in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent man would exercise or use under
the circumstances in the conduct of his own affairs.

 

(b) No provision of this Indenture shall
be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful
misconduct, except that:

 

(1) prior to the occurrence of an Event of
Default with respect to the Securities of a series and after the curing or waiving of all such Events of Default with respect to
that series that may have occurred: (A) the duties and obligations of the Trustee shall with respect to the Securities of such
series be determined solely by the express provisions of this Indenture, and the Trustee shall not be liable with respect to the
Securities of such series except for the performance of such duties and obligations as are specifically set forth in this Indenture,
and no implied covenants or obligations shall be read into this Indenture against the Trustee; and (B) in the absence of bad faith
on the part of the Trustee, the Trustee may with respect to the Securities of such series conclusively rely, as to the truth of
the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee
and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions that by any provision
hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine
whether or not they conform to the requirements of this Indenture;

 

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

 

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

 

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

 

Section 7.2 Certain Rights of Trustee.

 

Except as otherwise provided in Section
7.01:

 

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

 

(b) Any request, direction, order or demand
of the Company mentioned herein shall be sufficiently evidenced by a Board Resolution or an instrument signed in the name of the
Company by any authorized officer of the Company (unless other evidence in respect thereof is specifically prescribed herein);

 

(c) The Trustee may consult with counsel
and the written advice of such counsel or, if requested, any Opinion of Counsel shall be full and complete authorization and protection
in respect of any action taken or suffered or omitted hereunder in good faith and in reliance thereon;

 

    	 	 -23-	 

    

    

 

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

 

(e) The Trustee shall not be liable for
any action taken or omitted to be taken by it in good faith and believed by it to be authorized or within the discretion or rights
or powers conferred upon it by this Indenture;

 

(f) The Trustee shall not be bound to make
any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice,
request, consent, order, approval, bond, security, or other papers or documents, unless requested in writing so to do by the holders
of not less than a majority in principal amount of the Outstanding Securities of the particular series affected thereby (determined
as provided in Section 8.04); provided, however, that if the payment within a reasonable time to the Trustee of the costs, expenses
or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably
assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require reasonable indemnity
against such costs, expenses or liabilities as a condition to so proceeding. The reasonable expense of every such examination shall
be paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon demand; and

 

(g) The Trustee may execute any of the
trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee
shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder.

 

In addition, the Trustee shall not be deemed
to have knowledge of any Default or Event of Default except (1) any Event of Default occurring pursuant to Sections 6.01(a)(1)
and 6.01(a)(2) or (2) any Default or Event of Default of which the Trustee shall have received written notification in the manner
set forth in this Indenture or a Responsible Officer of the Trustee shall have obtained actual knowledge. Delivery of reports,
information and documents to the Trustee under Section 5.03 is for informational purposes only and the information and the Trustee's
receipt of the foregoing shall not constitute constructive notice of any information contained therein, or determinable from information
contained therein including the Company's compliance with any of their covenants thereunder (as to which the Trustee is entitled
to rely exclusively on an Officer's Certificate).

 

Section 7.3 Trustee Not Responsible
for Recitals or Issuance or Securities.

 

(a) The recitals contained herein and in
the Securities shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of
the same.

 

(b) The Trustee makes no representations
as to the validity or sufficiency of this Indenture or of the Securities.

 

(c) The Trustee shall not be accountable
for the use or application by the Company of any of the Securities or of the proceeds of such Securities, or for the use or application
of any moneys paid over by the Trustee in accordance with any provision of this Indenture or established pursuant to Section 2.01,
or for the use or application of any moneys received by any paying agent other than the Trustee.

 

Section 7.4 May Hold Securities.

 

The Trustee or any paying agent or Security
Registrar, in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would
have if it were not Trustee, paying agent or Security Registrar.

 

Section 7.5 Moneys Held in
Trust.

 

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

 

    	 	 -24-	 

    

    

 

Section 7.6 Compensation and
Reimbursement.

 

(a) The Company covenants and agrees to
pay to the Trustee, and the Trustee shall be entitled to, such reasonable compensation (which shall not be limited by any provision
of law in regard to the compensation of a trustee of an express trust) as the Company and the Trustee may from time to time agree
in writing, for all services rendered by it in the execution of the trusts hereby created and in the exercise and performance of
any of the powers and duties hereunder of the Trustee, and, except as otherwise expressly provided herein, the Company will pay
or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee
in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses and disbursements
of its counsel and of all Persons not regularly in its employ), except any such expense, disbursement or advance as may arise from
its negligence or bad faith and except as the Company and Trustee may from time to time agree in writing. The Company also covenants
to indemnify the Trustee (and its officers, agents, directors and employees) for, and to hold it harmless against, any loss, liability
or expense incurred without negligence or bad faith on the part of the Trustee and arising out of or in connection with the acceptance
or administration of this trust, including the reasonable costs and expenses of defending itself against any claim of liability
in the premises.

 

(b) The obligations of the Company under
this Section to compensate and indemnify the Trustee and to pay or reimburse the Trustee for reasonable expenses, disbursements
and advances shall constitute additional indebtedness hereunder. Such additional indebtedness shall be secured by a lien prior
to that of the Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust for
the benefit of the holders of particular Securities.

 

Section 7.7 Reliance on Officer's
Certificate.

 

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

 

Section 7.8 Disqualification; Conflicting Interests.

 

If the Trustee has or shall acquire any
 "conflicting interest" within the meaning of Section 310(b) of the Trust Indenture Act, the Trustee and the Company shall
in all respects comply with the provisions of Section 310(b) of the Trust Indenture Act.

 

Section 7.9 Corporate Trustee
Required; Eligibility.

 

There shall at all times be a Trustee with
respect to the Securities issued hereunder which shall at all times be a corporation organized and doing business under the laws
of the United States of America or any state or territory thereof or of the District of Columbia, or a corporation or other Person
permitted to act as trustee by the Securities and Exchange Commission, authorized under such laws to exercise corporate trust powers,
having a combined capital and surplus of at least fifty million U.S. dollars ($50,000,000), and subject to supervision or examination
by federal, state, territorial, or District of Columbia authority.

 

If such corporation or other Person publishes
reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority,
then for the purposes of this Section, the combined capital and surplus of such corporation or other Person shall be deemed to
be its combined capital and surplus as set forth in its most recent report of condition so published. The Company may not, nor
may any Person directly or indirectly controlling, controlled by, or under common control with the Company, serve as Trustee. In
case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign
immediately in the manner and with the effect specified in Section 7.10.

 

Section 7.10 Resignation and Removal;
Appointment of Successor.

 

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

 

    	 	 -25-	 

    

    

 

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

 

(1) the Trustee shall fail to comply with
the provisions of Section 7.08 after written request therefor by the Company or by any Securityholder who has been a bona fide
holder of a Security or Securities for at least six months; or

 

(2) the Trustee shall cease to be eligible
in accordance with the provisions of Section 7.09 and shall fail to resign after written request therefor by the Company or by
any such Securityholder; or

 

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

 

(c) The holders of a majority in aggregate
principal amount of the Securities of any series at the time Outstanding may at any time remove the Trustee with respect to such
series by so notifying the Trustee and the Company and may appoint a successor Trustee for such series with the consent of the
Company.

 

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

 

(e) Any successor trustee appointed pursuant
to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there
shall be only one Trustee with respect to the Securities of any particular series.

 

Section 7.11 Acceptance of Appointment By Successor.

 

(a) In case of the appointment hereunder
of a successor trustee with respect to all Securities, every such successor trustee so appointed shall execute, acknowledge and
deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal
of the retiring Trustee shall become effective and such successor trustee, without any further act, deed or conveyance, shall become
vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor
trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor
trustee all the rights, powers, and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor
trustee all property and money held by such retiring Trustee hereunder.

 

(b) In case of the appointment hereunder
of a successor trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and
each successor trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental
hereto wherein each successor trustee shall accept such appointment and which (i) shall contain such provisions as shall be necessary
or desirable to transfer and confirm to, and to vest in, each successor trustee all the rights, powers, trusts and duties of the
retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee relates,
(ii) shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and
duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring
shall continue to be vested in the retiring Trustee, and (iii) shall add to or change any of the provisions of this Indenture as
shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood
that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust, that each such
Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any
other such Trustee and that no Trustee shall be responsible for any act or failure to act on the part of any other Trustee hereunder;
and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become
effective to the extent provided therein, such retiring Trustee shall with respect to the Securities of that or those series to
which the appointment of such successor trustee relates have no further responsibility for the exercise of rights and powers or
for the performance of the duties and obligations vested in the Trustee under this Indenture, and each such successor trustee,
without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee relates; but,
on request of the Company or any successor trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor
trustee, to the extent contemplated by such supplemental indenture, the property and money held by such retiring Trustee hereunder
with respect to the Securities of that or those series to which the appointment of such successor trustee relates.

 

    	 	 -26-	 

    

    

 

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

 

(d) No successor trustee shall accept its
appointment unless at the time of such acceptance such successor trustee shall be qualified and eligible under this Article.

 

(e) Upon acceptance of appointment by a
successor trustee as provided in this Section, the Company shall transmit notice of the succession of such trustee hereunder by
mail, first class postage prepaid, to the Securityholders, as their names and addresses appear upon the Security Register. If the
Company fails to transmit such notice within ten days after acceptance of appointment by the successor trustee, the successor trustee
shall cause such notice to be transmitted at the expense of the Company.

 

Section 7.12 Merger, Conversion, Consolidation
or Succession to Business.

 

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

 

Section 7.13 Preferential Collection of Claims
Against the Company.

 

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

 

Section 7.14 Notice of Default

 

If any Default or any Event of Default
occurs and is continuing and if such Default or Event of Default is known to a Responsible Officer of the Trustee, the Trustee
shall mail to each Securityholder in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act notice
of the Default or Event of Default within the earlier of 90 days after it occurs and 30 days after it is known to a Responsible
Officer of the Trustee or written notice of it is received by the Trustee, unless such Default or Event of Default has been cured;
provided, however, that, except in the case of a default in the payment of the principal of (or premium, if any) or interest on
any Security, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive
committee or a trust committee of directors and/or Responsible Officers of the Trustee in good faith determine that the withholding
of such notice is in the interest of the Securityholders.

 

    	 	 -27-	 

    

    

 

ARTICLE VIII

 

CONCERNING THE SECURITYHOLDERS

 

Section 8.1 Evidence of Action by Securityholders
..

 

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

 

If the Company shall solicit from the Securityholders
of any series any request, demand, authorization, direction, notice, consent, waiver or other action, the Company may, at its option,
as evidenced by an Officer's Certificate, fix in advance a record date for such series for the determination of Securityholders
entitled to give such request, demand, authorization, direction, notice, consent, waiver or other action, but the Company shall
have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver
or other action may be given before or after the record date, but only the Securityholders of record at the close of business on
the record date shall be deemed to be Securityholders for the purposes of determining whether Securityholders of the requisite
proportion of Outstanding Securities of that series have authorized or agreed or consented to such request, demand, authorization,
direction, notice, consent, waiver or other action, and for that purpose the Outstanding Securities of that series shall be computed
as of the record date; provided, however, that no such authorization, agreement or consent by such Securityholders on the record
date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later than six
months after the record date.

 

Section 8.2 Proof of Execution by Securityholders.

 

Subject to the provisions of Section 7.01,
proof of the execution of any instrument by a Securityholder (such proof will not require notarization) or his agent or proxy and
proof of the holding by any Person of any of the Securities shall be sufficient if made in the following manner:

 

(a) The fact and date of the execution
by any such Person of any instrument may be proved in any reasonable manner acceptable to the Trustee.

 

(b) The ownership of Securities shall be
proved by the Security Register of such Securities or by a certificate of the Security Registrar thereof.

 

The Trustee may require such additional
proof of any matter referred to in this Section as it shall deem necessary.

 

Section 8.3 Who May be Deemed Owners.

 

Prior to the due presentment for registration
of transfer of any Security, the Company, the Trustee, any paying agent and any Security Registrar may deem and treat the Person
in whose name such Security shall be registered upon the books of the Company as the absolute owner of such Security (whether or
not such Security shall be overdue and notwithstanding any notice of ownership or writing thereon made by anyone other than the
Security Registrar) for the purpose of receiving payment of or on account of the principal of, premium, if any, and (subject to
Section 2.03) interest on such Security and for all other purposes; and neither the Company nor the Trustee nor any paying agent
nor any Security Registrar shall be affected by any notice to the contrary.

 

Section 8.4 Certain Securities Owned by Company
Disregarded.

 

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

 

    	 	 -28-	 

    

    

 

Section 8.5 Actions Binding
on Future Securityholders.

 

At any time prior to (but not after) the
evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the holders of the majority or percentage
in aggregate principal amount of the Securities of a particular series specified in this Indenture in connection with such action,
any holder of a Security of that series that is shown by the evidence to be included in the Securities the holders of which have
consented to such action may, by filing written notice with the Trustee, and upon proof of holding as provided in Section 8.02,
revoke such action so far as concerns such Security. Except as aforesaid any such action taken by the holder of any Security shall
be conclusive and binding upon such holder and upon all future holders and owners of such Security, and of any Security issued
in exchange therefor, on registration of transfer thereof or in place thereof, irrespective of whether or not any notation in regard
thereto is made upon such Security. Any action taken by the holders of the majority or percentage in aggregate principal amount
of the Securities of a particular series specified in this Indenture in connection with such action shall be conclusively binding
upon the Company, the Trustee and the holders of all the Securities of that series.

 

    	 	 -29-	 

    

    

 

ARTICLE IX

 

SUPPLEMENTAL INDENTURES

 

Section 9.1 Supplemental Indentures
Without the Consent of Securityholders.

 

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

 

(a) to cure any ambiguity, defect, or inconsistency
herein or in the Securities of any series;

 

(b) to comply with Article Ten;

 

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

 

(d) to add to the covenants, restrictions,
conditions or provisions relating to the Company for the benefit of the holders of all or any series of Securities (and if such
covenants, restrictions, conditions or provisions are to be for the benefit of less than all series of Securities, stating that
such covenants, restrictions, conditions or provisions are expressly being included solely for the benefit of such series), to
make the occurrence, or the occurrence and the continuance, of a default in any such additional covenants, restrictions, conditions
or provisions an Event of Default, or to surrender any right or power herein conferred upon the Company;

 

(e) to add to, delete from, or revise the
conditions, limitations, and restrictions on the authorized amount, terms, or purposes of issue, authentication, and delivery of
Securities, as herein set forth;

 

(f) to make any change that does not adversely
affect the rights of any Securityholder in any material respect;

 

(g) to provide for the issuance of and
establish the form and terms and conditions of the Securities of any series as provided in Section 2.01, to establish the form
of any certifications required to be furnished pursuant to the terms of this Indenture or any series of Securities, or to add to
the rights of the holders of any series of Securities;

 

(h) to evidence and provide for the acceptance
of appointment hereunder by a successor trustee; or

 

(i) to comply with any requirements of
the Securities and Exchange Commission or any successor in connection with the qualification of this Indenture under the Trust
Indenture Act.

 

The Trustee is hereby authorized to join
with the Company in the execution of any such supplemental indenture, and to make any further appropriate agreements and stipulations
that may be therein contained, but the Trustee shall not be obligated to enter into any such supplemental indenture that affects
the Trustee's own rights, duties or immunities under this Indenture or otherwise.

 

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

 

Section 9.2 Supplemental Indentures With Consent
of Securityholders.

 

With the consent (evidenced as provided
in Section 8.01) of the holders of not less than a majority in aggregate principal amount of the Securities of each series affected
by such supplemental indenture or indentures at the time Outstanding, the Company, when authorized by a Board Resolution, and the
Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto (which shall conform to
the provisions of the Trust Indenture Act as then in effect) for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner not covered
by Section 9.01 the rights of the holders of the Securities of such series under this Indenture; provided, however, that no such
supplemental indenture shall, without the consent of the holders of each Security then Outstanding and affected thereby, (a) extend
the fixed maturity of any Securities of any series, or reduce the principal amount thereof, or reduce the rate or extend the time
of payment of interest thereon, or reduce any premium payable upon the redemption thereof or (b) reduce the aforesaid percentage
of Securities, the holders of which are required to consent to any such supplemental indenture.

 

It shall not be necessary for the consent
of the Securityholders of any series affected thereby under this Section to approve the particular form of any proposed supplemental
indenture, but it shall be sufficient if such consent shall approve the substance thereof.

 

    	 	 -30-	 

    

    

 

Section 9.3 Effect of Supplemental Indentures.

 

Upon the execution of any supplemental
indenture pursuant to the provisions of this Article or of Section 10.01, this Indenture shall, with respect to such series, be
and be deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations,
duties and immunities under this Indenture of the Trustee, the Company and the holders of Securities of the series affected thereby
shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments,
and all the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions
of this Indenture for any and all purposes.

 

Section 9.4 Securities Affected by Supplemental
Indentures.

 

Securities of any series affected by a
supplemental indenture, authenticated and delivered after the execution of such supplemental indenture pursuant to the provisions
of this Article or of Section 10.01, may bear a notation in form approved by the Company, provided such form meets the requirements
of any securities exchange upon which such series may be listed, as to any matter provided for in such supplemental indenture.
If the Company shall so determine, new Securities of that series so modified as to conform, in the opinion of the Board of Directors,
to any modification of this Indenture contained in any such supplemental indenture may be prepared by the Company, authenticated
by the Trustee and delivered in exchange for the Securities of that series then Outstanding.

 

Section 9.5 Execution of Supplemental Indentures.

 

Upon the request of the Company, accompanied
by its Board Resolutions authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of
evidence of the consent of Securityholders required to consent thereto as aforesaid, the Trustee shall join with the Company in
the execution of such supplemental indenture unless such supplemental indenture affects the Trustee's own rights, duties or immunities
under this Indenture or otherwise, in which case the Trustee may in its discretion but shall not be obligated to enter into such
supplemental indenture. The Trustee, subject to the provisions of Section 7.01, may receive an Officer's Certificate or, if requested,
an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant to this Article is authorized or
permitted by, and conforms to, the terms of this Article and that it is proper for the Trustee under the provisions of this Article
to join in the execution thereof; provided, however, that such Officer's Certificate or Opinion of Counsel need not be provided
in connection with the execution of a supplemental indenture that establishes the terms of a series of Securities pursuant to Section
2.01 hereof. Promptly after the execution by the Company and the Trustee of any supplemental indenture pursuant to the provisions
of this Section, the Trustee shall transmit by mail, first class postage prepaid, a notice, setting forth in general terms the
substance of such supplemental indenture, to the Securityholders of all series affected thereby as their names and addresses appear
upon the Security Register. Any failure of the Trustee to mail such notice, or any defect therein, shall not, however, in any way
impair or affect the validity of any such supplemental indenture.

 

    	 	 -31-	 

    

    

 

ARTICLE X

 

SUCCESSOR ENTITY

 

Section 10.1 Company May Consolidate,
Etc.

 

Except as provided pursuant to Section
2.01 pursuant to a Board Resolution, and set forth in an Officer's Certificate, or established in one or more indentures supplemental
to this Indenture, nothing contained in this Indenture shall prevent any consolidation or merger of the Company with or into any
other Person (whether or not affiliated with the Company) or successive consolidations or mergers in which the Company or its successor
or successors shall be a party or parties, or shall prevent any sale, conveyance, transfer or other disposition of the property
of the Company or its successor or successors as an entirety, or substantially as an entirety, to any other corporation (whether
or not affiliated with the Company or its successor or successors) authorized to acquire and operate the same; provided, however,
(a) the Company hereby covenants and agrees that, upon any such consolidation or merger (in each case, if the Company is not the
survivor of such transaction), sale, conveyance, transfer or other disposition, the due and punctual payment of the principal of
(premium, if any) and interest on all of the Securities of all series in accordance with the terms of each series, according to
their tenor, and the due and punctual performance and observance of all the covenants and conditions of this Indenture with respect
to each series or established with respect to such series pursuant to Section 2.01 to be kept or performed by the Company shall
be expressly assumed, by supplemental indenture (which shall conform to the provisions of the Trust Indenture Act, as then in effect)
reasonably satisfactory in form to the Trustee executed and delivered to the Trustee by the entity formed by such consolidation,
or into which the Company shall have been merged, or by the entity which shall have acquired such property and (b) in the event
that the Securities of any series then Outstanding are convertible into or exchangeable for shares of common stock or other securities
of the Company, such entity shall, by such supplemental indenture, make provision so that the Securityholders of Securities of
that series shall thereafter be entitled to receive upon conversion or exchange of such Securities the number of securities or
property to which a holder of the number of shares of common stock or other securities of the Company deliverable upon conversion
or exchange of those Securities would have been entitled had such conversion or exchange occurred immediately prior to such consolidation,
merger, sale, conveyance, transfer or other disposition.

 

Section 10.2 Successor Entity Substituted.

 

(a) In case of any such consolidation,
merger, sale, conveyance, transfer or other disposition and upon the assumption by the successor entity by supplemental indenture,
executed and delivered to the Trustee and satisfactory in form to the Trustee, of the obligations set forth under Section 10.01
on all of the Securities of all series Outstanding, such successor entity shall succeed to and be substituted for the Company with
the same effect as if it had been named as the Company herein, and thereupon the predecessor corporation shall be relieved of all
obligations and covenants under this Indenture and the Securities.

 

(b) In case of any such consolidation,
merger, sale, conveyance, transfer or other disposition, such changes in phraseology and form (but not in substance) may be made
in the Securities thereafter to be issued as may be appropriate.

 

(c) Nothing contained in this Article shall
require any action by the Company in the case of a consolidation or merger of any Person into the Company where the Company is
the survivor of such transaction, or the acquisition by the Company, by purchase or otherwise, of all or any part of the property
of any other Person (whether or not affiliated with the Company).

 

Section 10.3 Evidence of Consolidation, Etc. to
Trustee.

 

The Trustee, subject to the provisions
of Section 7.01, may receive an Officer's Certificate and, if requested, an Opinion of Counsel as conclusive evidence that any
such consolidation, merger, sale, conveyance, transfer or other disposition, and any such assumption, comply with the provisions
of this Article.

 

    	 	 -32-	 

    

    

 

ARTICLE XI

 

SATISFACTION AND DISCHARGE

 

Section 11.1 Satisfaction and Discharge
of Indenture.

 

If at any time: (a) the Company shall have
delivered to the Trustee for cancellation all Securities of a series theretofore authenticated and not delivered to the Trustee
for cancellation (other than any Securities that shall have been destroyed, lost or stolen and that shall have been replaced or
paid as provided in Section 2.07 and Securities for whose payment money or Governmental Obligations have theretofore been deposited
in trust or segregated and held in trust by the Company and thereupon repaid to the Company or discharged from such trust, as provided
in Section 11.05); or (b) all such Securities of a particular series not theretofore delivered to the Trustee for cancellation
shall have become due and payable, or are by their terms to become due and payable within one year or are to be called for redemption
within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption, and the Company shall deposit
or cause to be deposited with the Trustee as trust funds the entire amount in moneys or Governmental Obligations or a combination
thereof, sufficient in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification
thereof delivered to the Trustee, to pay at maturity or upon redemption all Securities of that series not theretofore delivered
to the Trustee for cancellation, including principal (and premium, if any) and interest due or to become due to such date of maturity
or date fixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums payable
hereunder with respect to such series by the Company then this Indenture shall thereupon cease to be of further effect with respect
to such series except for the provisions of Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03 and 7.10, that shall survive until the
date of maturity or redemption date, as the case may be, and Sections 7.06 and 11.05, that shall survive to such date and thereafter,
and the Trustee, on demand of the Company and at the cost and expense of the Company shall execute proper instruments acknowledging
satisfaction of and discharging this Indenture with respect to such series.

 

Section 11.2 Discharge of Obligations.

 

If at any time all such Securities of a
particular series not heretofore delivered to the Trustee for cancellation or that have not become due and payable as described
in Section 11.01 shall have been paid by the Company by depositing irrevocably with the Trustee as trust funds moneys or an amount
of Governmental Obligations sufficient to pay at maturity or upon redemption all such Securities of that series not theretofore
delivered to the Trustee for cancellation, including principal (and premium, if any) and interest due or to become due to such
date of maturity or date fixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other
sums payable hereunder by the Company with respect to such series, then after the date such moneys or Governmental Obligations,
as the case may be, are deposited with the Trustee the obligations of the Company under this Indenture with respect to such series
shall cease to be of further effect except for the provisions of Sections 2.03, 2.05, 2.07, 4,01, 4.02, 4,03, 7.06, 7.10 and 11.05
hereof that shall survive until such Securities shall mature and be paid.

 

Thereafter, Sections 7.06 and 11.05 shall
survive.

 

Section 11.3 Deposited Moneys to be Held in Trust.

 

All moneys or Governmental Obligations
deposited with the Trustee pursuant to Sections 11.01 or 11.02 shall be held in trust and shall be available for payment as due,
either directly or through any paying agent (including the Company acting as its own paying agent), to the holders of the particular
series of Securities for the payment or redemption of which such moneys or Governmental Obligations have been deposited with the
Trustee.

 

Section 11.4 Payment of Moneys Held by Paying Agents.

 

In connection with the satisfaction and
discharge of this Indenture all moneys or Governmental Obligations then held by any paying agent under the provisions of this Indenture
shall, upon demand of the Company, be paid to the Trustee and thereupon such paying agent shall be released from all further liability
with respect to such moneys or Governmental Obligations.

 

Section 11.5 Repayment to Company.

 

Any moneys or Governmental Obligations
deposited with any paying agent or the Trustee, or then held by the Company, in trust for payment of principal of or premium, if
any, or interest on the Securities of a particular series that are not applied but remain unclaimed by the holders of such Securities
for at least two years after the date upon which the principal of (and premium, if any) or interest on such Securities shall have
respectively become due and payable, or such other shorter period set forth in applicable escheat or abandoned or unclaimed property
law, shall be repaid to the Company on May 31 of each year or upon the Company's request or (if then held by the Company) shall
be discharged from such trust; and thereupon the paying agent and the Trustee shall be released from all further liability with
respect to such moneys or Governmental Obligations, and the holder of any of the Securities entitled to receive such payment shall
thereafter, as a general creditor, look only to the Company for the payment thereof.

 

    	 	 -33-	 

    

    

 

ARTICLE XII

 

IMMUNITY OF INCORPORATORS, STOCKHOLDERS,
OFFICERS AND DIRECTORS

 

Section 12.1 No Recourse.

 

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

 

    	 	 -34-	 

    

    

 

ARTICLE XIII

 

MISCELLANEOUS PROVISIONS

 

Section 13.1 Effect on Successors and
Assigns.

 

All the covenants, stipulations, promises
and agreements in this Indenture made by or on behalf of the Company shall bind its successors and assigns, whether so expressed
or not.

 

Section 13.2 Actions by Successor
..

 

Any act or proceeding by any provision
of this Indenture authorized or required to be done or performed by any board, committee or officer of the Company shall and may
be done and performed with like force and effect by the corresponding board, committee or officer of any corporation that shall
at the time be the lawful successor of the Company.

 

Section 13.3 Surrender of Company Powers.

 

The Company by instrument in writing executed
by authority of its Board of Directors and delivered to the Trustee may surrender any of the powers reserved to the Company, and
thereupon such power so surrendered shall terminate both as to the Company and as to any successor corporation.

 

Section 13.4 Notices.

 

Except as otherwise expressly provided
herein, any notice, request or demand that by any provision of this Indenture is required or permitted to be given, made or served
by the Trustee or by the holders of Securities or by any other Person pursuant to this Indenture to or on the Company may be given
or served by being deposited in first class mail, postage prepaid, addressed (until another address is filed in writing by the
Company with the Trustee), as follows:

 

Any notice, election, request or demand
by the Company or any Securityholder or by any other Person pursuant to this Indenture to or upon the Trustee shall be deemed to
have been sufficiently given or made, for all purposes, if given or made in writing at the Corporate Trust Office of the Trustee.

 

Section 13.5 Governing Law.

 

This Indenture and each Security shall
be deemed to be a contract made under the internal laws of the State of New York, and for all purposes shall be construed in accordance
with the laws of said State, except to the extent that the Trust Indenture Act is applicable.

 

Section 13.6 Treatment of Securities as Debt.

 

It is intended that the Securities will
be treated as indebtedness and not as equity for federal income tax purposes. The provisions of this Indenture shall be interpreted
to further this intention.

 

Section 13.7 Certificates and Opinions as to Conditions
Precedent.

 

(a) Upon any application or demand by the
Company to the Trustee to take any action under any of the provisions of this Indenture, the Company shall furnish to the Trustee
an Officer's Certificate stating that all conditions precedent provided for in this Indenture (other than the certificate to be
delivered pursuant to Section 13.12) relating to the proposed action have been complied with and, if requested, an Opinion of Counsel
stating that in the opinion of such counsel all such conditions precedent have been complied with, except that in the case of any
such application or demand as to which the furnishing of such documents is specifically required by any provision of this Indenture
relating to such particular application or demand, no additional certificate or opinion need be furnished.

 

(b) Each certificate or opinion provided
for in this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant in this Indenture shall
include (i) a statement that the Person making such certificate or opinion has read such covenant or condition; (ii) a brief statement
as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate
or opinion are based; (iii) a statement that, in the opinion of such Person, he has made such examination or investigation as is
reasonably necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied
with; and (iv) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with.

 

Section 13.8 Payments on Business Days.

 

Except as provided pursuant to Section
2.01 pursuant to a Board Resolution, and set forth in an Officer's Certificate, or established in one or more indentures supplemental
to this Indenture, in any case where the date of maturity of interest or principal of any Security or the date of redemption of
any Security shall not be a Business Day, then payment of interest or principal (and premium, if any) may be made on the next succeeding
Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue
for the period after such nominal date.

 

    	 	 -35-	 

    

    

 

Section 13.9 Conflict with Trust Indenture Act.

 

If and to the extent that any provision
of this Indenture limits, qualifies or conflicts with the duties imposed by Sections 310 to 317, inclusive, of the Trust Indenture
Act, such imposed duties shall control.

 

Section 13.10 Counterparts.

 

This Indenture may be executed in any number
of counterparts, each of which shall be an original, but such counterparts shall together constitute but one and the same instrument.

 

Section 13.11 Separability.

 

In case any one or more of the provisions
contained in this Indenture or in the Securities of any series shall for any reason be held to be invalid, illegal or unenforceable
in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Indenture or of such
Securities, but this Indenture and such Securities shall be construed as if such invalid or illegal or unenforceable provision
had never been contained herein or therein.

 

Section 13.12 Compliance Certificates.

 

The Company shall deliver to the Trustee,
within 120 days after the end of each fiscal year during which any Securities of any series were outstanding, an officer's certificate
stating whether or not the signers know of any Default or Event of Default that occurred during such fiscal year. Such certificate
shall contain a certification from the principal executive officer, principal financial officer or principal accounting officer
of the Company that a review has been conducted of the activities of the Company and the Company's performance under this Indenture
and that the Company has complied with all conditions and covenants under this Indenture. For purposes of this Section 13.12, such
compliance shall be determined without regard to any period of grace or requirement of notice provided under this Indenture. If
the officer of the Company signing such certificate has knowledge of such a Default or Event of Default, the certificate shall
describe any such Default or Event of Default and its status.

 

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

 

	 	HEPION PHARMACEUTICALS, INC.
	 	 
	                                                                                                                            	By:	                                                                     
	 	Name: 	 
	 	Title:	 
	 	[TRUSTEE], as Trustee
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	 	 -36-

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