Document:

neo-ex101_22.htm

 EXHIBIT 10.1

 

Aspen Capital Advisors, LLC

1740 Persimmon Drive, Suite 100

Naples, FL 34109

(239) 325-2001

 

 

November 11, 2015

 

NeoGenomics, Inc.

Mr. Douglas M. VanOort

Chief Executive Officer

12701 Commonwealth Drive, Suite 5

Fort Myers, FL  33913

 

PERSONAL & CONFIDENTIAL

 

Dear Doug:

 

Thank you for your interest in securing the services of Aspen Capital Advisors, LLC (“Aspen”) to act as a strategic and financial advisor to NeoGenomics, Inc. and its affiliates  (“NeoGenomics” or the “Company”). Aspen is pleased to be retained on the terms and conditions set forth in this letter of engagement ("Engagement Letter" or “Agreement”) as a consultant to the Company in connection with securing the bank financing for and closing the pending acquisition of Clarient, Inc. (the "Engagement"). 

 

1.Services of Aspen.

 

For the Term of Engagement (as hereinafter defined), and with your general knowledge and consent, Aspen agrees to provide to the Company a range of consultative and related services which may include, but not necessarily be limited, to the following: (i) negotiating and finalizing the transaction documentation associated with the Company’s pending acquisition of Clarient (the “Acquisition”), (ii) negotiating and finalizing bank credit agreements with AB Private Credit Investors, Well Fargo Capital Finance, and any other lenders that may be identified in the future in connection with securing the bank financing for the Acquisition (the “Financing”), (iii) updating financial models which can be used in connection with finalizing the Financing and establishing appropriate and responsible levels for the covenants that will be part of the bank credit agreements.  (iv) updating the Company’s investor materials to inform the investment community about the benefit of the Acquisition, (v) assist the Company in soliciting the shareholder approval required to consummate the Acquisition, and (vi) such other matters as may be mutually agreed upon from time to time.     

 

2.Term of Engagement.  

 

The Engagement shall be effective for a period, commencing on the date of this letter and will end on the date the Acquisition is terminated (the "Term of Engagement").  

 

3.Compensation.

 

In consideration for the services rendered by Aspen to the Company pursuant to the Engagement (and in addition to the expenses provided for in Paragraph 4 hereof), and throughout the Term of Engagement, the Company shall compensate Aspen in connection with the Acquisition and the Financing as follows (collectively referred to as “Compensable Events”):

 

1

 

 

 

3.1Acquisition Assistance.  The Company agrees that Aspen shall be paid  $250,000 in cash as compensation for assisting with all matters other than the Financing that are related to closing the Acquisition ("Acquisition Compensation") within twenty (20) business days of the date on which the Company consummates the Acquisition, or such other mutually agreed upon timeframe.   

 

3.2Financing Assistance.  The Company agrees that Aspen shall be paid $250,000 in cash as compensation for all matters relating to the Financing pursuant to this Agreement (“Financing Compensation”) within twenty (20) business days of the date on which the Company consummates the Acquisition, or such other mutually agreed upon timeframe.    

 

4.Expenses.

 

In addition to any compensation payable hereunder, and without regard to whether any Compensable Events have occurred, the Company shall reimburse Aspen, promptly upon submission of documentation evidencing such expenses, for all fees and disbursements of Aspen’s travel and out-of-pocket expenses reasonably incurred in connection with the services performed by Aspen pursuant to this Engagement Letter, including without limitation, airfare, hotel, food and associated expenses and long-distance telephone calls.  Said expenses shall not exceed $5,000 in any 30-day period of the term unless approved in writing by an officer, director or other authorized designee of the Company.

 

5.Termination.

 

After a period of nine months has lapsed from the date hereof, the Company and/or Aspen shall have the right to terminate the Engagement by giving written notice to the other party ("Termination").  

 

6.Non-Exclusivity of Aspen Services.

 

It is understood and acknowledged by the Company that Aspen presently has, and anticipates having throughout the Engagement Term, other clients for which it performs the same or similar services to those to be performed in accordance herewith, and that Aspen shall be under no obligation under this Engagement to restrict its ability in any way to perform services for any other clients.  It is further acknowledged that, by virtue of the nature of the services to be performed by Aspen hereunder, the value of such services bear no relation necessarily to the amount of time invested on the part of Aspen to the performance of such services, and Aspen, therefore, shall be under a continuing obligation hereunder to devote only as much time to the performance of its services hereunder as deemed appropriate in the exclusive discretion of its principal(s).  Notwithstanding the foregoing, it is the general understanding of the parties that Mr. Steven Jones, Managing Director of Aspen, will be the primary person within Aspen providing services to the Company throughout the life of this Engagement.

 

7.Cooperation by Company.

 

In order to enable Aspen to provide the services requested, the Company agrees to provide to Aspen, among other things, all information reasonably requested or required by Aspen including, without limitation, information concerning historical and projected financial results of the Company and its subsidiaries.  The Company also agrees to make available to Aspen such representatives of the Company, including, among others, directors, officers, employees, outside counsel and independent certified public accountants, as Aspen may reasonably request. 

 

2

 

 

 

8.Limitation on Use of Certain Information.   

 

The Company acknowledges that all services and advice (written or oral) provided by Aspen to the Company in connection with the Engagement are intended solely for the benefit and use of the Company in considering the subject matter to which they relate, and the Company agrees that no person or entity (including any shareholders of the company) other than the Company shall be entitled or advised to make use of or rely upon the advice of Aspen provided pursuant hereto, and no such opinion or advice shall (i) be used for any other purpose or reproduced, disseminated, quoted or referred to at any time, in any manner or for any purpose, or (ii) filed with, included in or referred to in whole or in part in any registration statement, proxy statement or any other document, in either case without Aspen's prior written consent.  In any event, neither the Company nor any other parties may use the Aspen name in any public references, press releases or public filings in connection with the Company without Aspen’s prior written consent.

 

9.  Indemnification.

In consideration of Aspen signing this Engagement Letter and agreeing to perform services pursuant hereto, the Company agrees to indemnify and hold harmless Aspen and each of its directors, officers, agents, employees and controlling persons (within the meaning of the Securities Act of 1933, as amended) to the extent and as provided in Addendum A attached hereto and incorporated herein by reference.  The provisions of this Section 9 and Addendum A shall survive any expiration or termination of this Engagement Letter and shall be binding upon any successors or assigns of the Company.

 

10.Miscellaneous.

 

(a)This Engagement Letter constitutes the entire agreement and understanding of the parties hereto, and supersedes any and all previous agreements and understandings, whether oral or written, between the parties with respect to the matters set forth herein.

 

(b)Any notice or communication permitted or required hereunder shall be in writing and shall be deemed sufficiently given if hand-delivered or sent (i) postage prepaid by registered mail, return receipt requested, or (ii) by facsimile, to the respective parties as set forth below, or to such other address as either party may notify the other of in writing:

 

	
If to the Company, to:
	
NeoGenomics, Inc.

	
 
	
12701 Commonwealth Drive, Suite 5

	
 
	
Fort Myers, FL 33913

	
 
	
Attn: Chief Financial Officer

	
 
	
 

	
If to Aspen, to:
	
Aspen Capital Advisors, LLC

	
 
	
1740 Persimmon Drive, Suite 100

	
 
	
Naples, FL  34109

	
 
	
Attn: Steven C. Jones

	
 
	
 

 

(c)This Engagement Letter shall be binding upon and inure to the benefit of each of the parties hereto and their respective successors, legal representatives and assigns.

(d)The Company represents that it has the power to enter into this Engagement Letter and to carry out its obligations hereunder.  This Engagement Letter constitutes the valid and binding obligation of the Company and is enforceable in accordance with its terms.  The Company further 

3

 

 

 

represents that this Engagement Letter does not conflict with or breach any agreement to which it is subject or by which it is bound.   

(e)This Engagement Letter may be executed in any number of counterparts, each of which together shall constitute one and the same original document.

(f)No provision of this Engagement Letter may be amended, modified or waived, except in a writing signed by all of the parties hereto. 

(g)All claims arising out of the interpretation, application or enforcement of this Engagement Letter including, without limitation, any breach hereof, shall be settled by final and binding arbitration in Fort Myers, Florida in accordance with the commercial rules then prevailing of the American Arbitration Association by a panel of one (1) arbitrator appointed by the American Arbitration Association.  The decision of the arbitrator shall be binding on Aspen and the Company and may be entered and enforced in any court of competent jurisdiction by either party.  The arbitration shall be pursued and brought to conclusion as rapidly as is possible.  In no event shall any claims decided in the favor of the Company exceed the amount of any compensation paid to Aspen.  Each of Aspen and the Company waives all right to trial by jury in any action, proceeding or counterclaim (whether based upon contract, tort or otherwise) related to or arising out of the engagement of Aspen pursuant to, or the performance by Aspen of, the services contemplated by this Agreement.

(h)This Agreement shall be governed by, and construed in accordance with the provisions of the law of the State of Florida, without reference to provisions that refer a matter to the law of any other jurisdiction.  Each party hereto hereby irrevocably submits itself to the non‐exclusive personal jurisdiction of the federal and state courts sitting in Florida; accordingly, subject to the provisions for arbitration provided in Section 10(g), any justiciable matters involving the Company and Aspen with respect to this Agreement may be adjudicated only in a federal or state court sitting in Florida.

(i)If either party knowingly or intentionally breaches or proposes to breach this Agreement as determined by a court of competent jurisdiction or a panel of arbitrators, then such party shall pay the other all costs and expenses, including attorneys' fees, reasonably incurred by the damaged party in enforcing this Agreement.

(j)No Presumption and Opportunity to Review.  The fact that this Agreement was drafted by one party shall create no presumptions and specifically shall not cause this Agreement or any part hereof to be construed against any party as the drafter.  The Company hereby represents that it has had a full and fair opportunity to have this Agreement, and all related documents referred to herein, reviewed by counsel of its own choice.

	
 
	

	
 

[Signatures Appear on the Following Page]

4

 

 

 

If the foregoing correctly sets forth the understanding between Aspen and the Company with respect to the foregoing, please so indicate by signing in the place provided below, at which time this Engagement Letter shall become a binding agreement.

 

ASPEN CAPITAL ADVISORS, LLC

 

 

By: /s/ Steven C. Jones_____________

Steven C. Jones

Managing Director

 

 

Accepted and Agreed:

 

NEOGENOMICS, inc.

 

 

By:  /s/ Douglas M. VanOort_________

Douglas M. VanOort

Chairman & Chief Executive Officer

5

 

 

 

ADDENDUM A

 

Pursuant to the foregoing letter dated November 11, 2015 (the “Agreement”), NeoGenomics, Inc, a Nevada company,  (the “Company”) agrees to indemnify and hold harmless Aspen Capital Advisors, LLC, a Florida Company (“Aspen”), together with its respective officers, directors, shareholders, employees and agents, and each person, if any, who controls Aspen and any of its affiliates within the meaning of the Securities Act of 1933 or the Securities Exchange Act of 1934 (all of the foregoing are referred to collectively as “Indemnified Parties” and individually as an “Indemnified Party”), from any and all losses, suits, actions, judgments, penalties, fines, costs, damages, liabilities or claims of any kind or nature, whether joint or several, (including, without limitation, any legal or any other expenses as they are incurred by an Indemnified Party in connection with the preparation for or defense of any action, claim or proceeding, whether or not resulting in any liability) (all of the foregoing being collectively defined as the “Indemnified Claims”) to which such Indemnified Party may become subject or liable or which may be incurred by or assessed against any Indemnified Party under any statute, common law, contract or otherwise, relating to or arising out of any of:  (a) any actions or omissions of the Company or anyone acting on the Company’s behalf, including its employees, officers, advisors, directors and agents; (b) the Agreement or the services to be performed pursuant to the Agreement; (c) any securities, tax, corporate, or other filings of the Company; or (d) any transactions referred to in the Agreement or any transactions arising out of the transactions contemplated by the Agreement; provided, however, that the Company shall not be liable to an Indemnified Party in any such case solely to the extent that any such Indemnified Claim is found, in a final judgment by a court of competent jurisdiction, to have  resulted  as a direct and proximate cause from said Indemnified Party’s willful misconduct or gross negligence in the performance of their duties on behalf of the Company.  No Indemnified Party shall have any liability to the Company or any other person in connection with the services rendered pursuant to this Agreement except for any liability for losses, claims, damages or liabilities finally judicially determined to have resulted solely and exclusively from actions taken or omitted to be taken as a direct result of such Indemnified Party’s gross negligence or willful misconduct.  Promptly after receipt by an Indemnified Party of notice of the occurrence of an Indemnified Claim, or any claim or the commencement of any action or proceeding in respect of which indemnity may be sought against the Company, such Indemnified Party will notify the Company in writing of the commencement thereof or of such Indemnified Claim, and the Company shall immediately assume the full defense thereof (including the employment of counsel reasonably satisfactory to the Indemnified Party and the payment of the fees and expenses of such counsel).  Notwithstanding the preceding sentence, the Indemnified Party will be entitled to employ its own counsel in such circumstance if the Indemnified Party is advised in a written opinion of counsel that a conflict of interest exists which makes representation by counsel chosen by the Company not advisable.  In such event, the reasonable fees and disbursements of such separate counsel will be paid by the Company. 

 

 

6EX-4.1

 Exhibit 4.1 

[FORM OF FACE OF 2044 NOTE] 
 THIS NOTE IS A
GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY, WHICH MAY BE TREATED BY THE COMPANY, THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF
THIS NOTE FOR ALL PURPOSES. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW
YORK, NEW YORK) (“DTC”) TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS
IN WHOLE, BUT NOT IN PART, BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY, OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF
SUCH SUCCESSOR DEPOSITARY. 

 CUSIP No. 615369AE5 

MOODY’S CORPORATION 

5.250% SENIOR NOTES DUE 2044 
  

			
	No. R-2	  	$300,000,000

 Principal and Interest. Moody’s Corporation, a corporation duly organized and existing under the
laws of the State of Delaware (herein called the “Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co. or
registered assigns, the principal sum of three hundred million dollars ($300,000,000) on July 15, 2044 and to pay interest thereon from July 15, 2015 or from the most recent Interest Payment Date to which interest has been paid or duly
provided for, semiannually in arrears on January 15 and July 15 in each year, commencing January 15, 2016 at the rate of 5.250% per annum, until the principal hereof is paid or made available for payment. 

Method of Payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date shall, as provided
in such Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest, which shall be January 1 or July 1, as the case may be,
next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Record Date and may either be paid to the Person in whose name this Note (or one or
more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice thereof having been given to Holders of Notes not less than 10 days prior to
such Special Record Date, all as more fully provided in said Indenture. Payment of the principal of (and premium, if any) and any such interest on this Note shall be made at the Corporate Trust Office in U.S. Dollars. 

Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place. 
 Authentication. Unless the certificate of authentication hereon has
been executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal. 
 Dated: November 17, 2015 

 

			
	MOODY’S CORPORATION
		
	By:	 	  

		 	Name: John J. Goggins
		 	Title: Executive Vice President and
		 	  General Counsel

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

Dated: November 17, 2015 
 WELLS FARGO BANK, NATIONAL
ASSOCIATION 
 as Trustee, certifies 
 that this is one of 

the Securities referred 

to in the Indenture. 
  

			
	By:	 	  

		 	Authorized Signatory

 [FORM OF REVERSE OF 2044 NOTE] 

Indenture. This Note is one of a duly authorized issue of Securities of the Company (herein called the
“Note” or collectively, the “Notes”), issued and to be issued under an Indenture, dated as of August 19, 2010, as supplemented by a Fourth Supplemental Indenture dated July 16,
2014 (as so supplemented, herein called the “Indenture”), between the Company and Wells Fargo Bank, National Association, as Trustee (herein called the “Trustee,” which term includes any
successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee
and the Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, limited as of the date hereof in aggregate principal amount to
$600,000,000. 
 Optional Redemption. The Notes are subject to redemption at the Company’s option, in whole or in part,
at any time at a redemption price equal to the greater of (i) 100% of the principal amount to be redeemed plus accrued and unpaid interest thereon to, but excluding, the Redemption Date, and (ii) the sum, as determined by an Independent
Investment Banker, of the present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on a semiannual basis
(assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 30 basis points plus accrued and unpaid interest on the principal amount being redeemed to, but excluding, the Redemption Date. 

For purposes of determining the optional redemption price, the following definitions are applicable: 

“Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a
maturity comparable to the remaining term (“Remaining Life”) of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of the Notes. 
 “Comparable Treasury Price” means, with respect to any
redemption date, (1) the average of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains
fewer than four such Reference Treasury Dealer Quotations, the average of all such Quotations or, if only one such Quotation is obtained, such Quotation. 

“Independent Investment Banker” means an independent investment banking institution of national standing appointed by the Company,
which may be one of the Reference Treasury Dealers. 

 “Reference Treasury Dealer” means (1) J.P. Morgan Securities LLC and Merrill
Lynch, Pierce, Fenner & Smith Incorporated, and their respective successors, and (2) any other primary U.S. government securities dealer in New York City that the Company selects (each, a “Reference Treasury Dealer”). 

“Reference Treasury Dealer Quotation” means, with respect to each Reference Treasury Dealer and any Redemption Date for the Notes,
the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue for the Notes (expressed in each case as a percentage of its principal amount) quoted in writing to the Independent
Investment Banker by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third business day preceding such Redemption Date. 

“Treasury Rate” means, with respect to any Redemption Date, (1) the yield, under the heading which represents the average for
the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which
establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is
within three months before or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Treasury Rate shall be interpolated or extrapolated from such
yields on a straight line basis, rounding to the nearest month), (2) if the period from the Redemption Date to the maturity date of the notes to be redeemed is less than one year, the weekly average yield on actually traded United States
Treasury securities adjusted to a constant maturity of one year will be used, or (3) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per annum
equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such
Redemption Date. The Treasury Rate shall be calculated on the third business day preceding the redemption date. 
 Notice of any redemption
shall be mailed at least 30 days but not more than 60 days before the Redemption Date to each registered Holder of the Notes to be redeemed. If money sufficient to pay the redemption price of all of the Notes (or portions thereof) to be redeemed on
the Redemption Date is deposited with the Trustee or Paying Agent on or before the Redemption Date, and unless the Company defaults in payment of the redemption price, on and after the Redemption Date, interest shall cease to accrue on the Notes or
portions of the Notes called for redemption. If fewer than all of the Notes are to be redeemed, and such Notes are at the time represented by a Global Security, the Depositary shall select by lot the particular interests to be redeemed. If the
Company elects to redeem fewer than all of the Notes, and any of such Notes are not represented by a Global Security, then the Trustee shall select the particular Notes to be redeemed in a manner it deems appropriate and fair (and the Depositary
shall select by lot the particular interests in any Global Security to be redeemed). 
 The Company may at any time, and from time to time,
purchase the Notes at any price or prices in the open market or otherwise. 

 Defaults and Remedies. If an Event of Default with respect to Notes shall occur and be
continuing, the principal of the Notes may be declared due and payable in the manner and with the effect provided in the Indenture. 

Amendment, Modification and Waiver. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the
modification of the rights and obligations of the Company and the rights of the Holders of the Notes at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Notes at the time
Outstanding. The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of the Notes at the time Outstanding, on behalf of the Holders of all Notes, to waive compliance by the Company with certain
provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of
any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. 

Restrictive Covenants. The Indenture does not limit the incurrence of additional debt by the Company or any of its Subsidiaries;
however, it does limit the creation of certain Liens and the entry into sale and leaseback transactions by the Company or any of its Restricted Subsidiaries. The limitations are subject to a number of important qualifications and exceptions. Once a
year, the Company must report to the Trustee on its compliance with these limitations. 
 Denominations, Transfer and
Exchange. The Notes are issuable only in registered form without coupons in minimum denominations of $2,000 and in integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth,
Notes are exchangeable for a like aggregate principal amount of Notes of any different authorized denomination or denominations, as requested by the Holder surrendering the same. 

As provided in the Indenture and subject to certain limitations therein set forth, including Section 3.06 of the Base Indenture,
the transfer of this Note is registerable in the Register, upon surrender of this Note for registration of transfer at the Registrar accompanied by a written request for transfer in form satisfactory to the Company and the Registrar duly executed by
the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of any different authorized denomination or denominations and for the same aggregate principal amount, shall be issued to the designated transferee or
transferees. 
 No service charge shall be made for any such registration of transfer or exchange, but the Company or the Trustee may
require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Persons Deemed
Owners. Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for the purpose of
receiving payment of principal of and premium, if any, and (subject to Section 3.08 of the Base Indenture) interest, if any, on such Note and for all other purposes whatsoever, whether or not this Note be overdue, and neither the Company, the
Trustee nor any agent shall of the Company or the Trustee shall be affected by notice to the contrary. 

 Defined Terms. All terms used in this Note and not defined herein shall have the meanings
assigned to them in the Indenture. 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Company pursuant to the provisions hereof, check the box:   ̈ 
 If you want to elect to have only part of the Note purchased by the Company pursuant to the
provisions hereof, state the amount you elect to have purchased: $                     

Date:                         

  

					
		 	Your	  	
		 	Signature:	  	  

		 		  	(Sign exactly as your name appears on the face of this Note)
			
		 	Tax	  	
		 	Identification	  	
		 	No.:	  	

  

	
	 Signature

	
Guarantee*:                       
                                     

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee).

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