Document:

Exhibit 10.1

 

FORM OF SUBSCRIPTION AGREEMENT

 

Kadmon Holdings, Inc.

450 East 29th Street

New York, NY 10016

 

Ladies and Gentlemen:

 

The undersigned (the “Investor”) hereby confirms
its agreement with you as follows:

 

1.       This
Subscription Agreement (this “Agreement”) is made as of the date set forth below between Kadmon Holdings, Inc.,
a Delaware corporation (the “Company”), and the Investor.

 

2.       The
Company has authorized the sale and issuance to certain investors of up to an aggregate of [•] shares (the “Shares”)
of its Common Stock, par value $0.001 per share (the “Common Stock”) for a purchase price of $3.30 per share
(the “Purchase Price”).

 

3.       The
offering and sale of the Shares (the “Offering”) is being made pursuant to (1) an effective Registration Statement
on Form S-3 (Registration No. 333-222364) (including the Prospectus contained therein (the “Base Prospectus”),
the “Registration Statement”) filed by the Company with the Securities and Exchange Commission (the “Commission”),
(2) if applicable, certain “free writing prospectuses” (as that term is defined in Rule 405 under the Securities Act
of 1933, as amended (the “Act”)), that have been or will be filed with the Commission and delivered to the Investor
on or prior to the date hereof and (3) a Prospectus Supplement (the “Prospectus Supplement” and together with
the Base Prospectus, the “Prospectus”) containing certain supplemental information regarding the Shares and
terms of the Offering that will be filed with the Commission and delivered to the Investor (or made available to the Investor by
the filing by the Company of an electronic version thereof with the Commission).

 

4.       The
Company and the Investor agree that the Investor will purchase from the Company and the Company will issue and sell to the Investor
the Shares of Common Stock set forth below at the aggregate purchase price set forth below. The Shares shall be purchased pursuant
to the Terms and Conditions for Purchase of Shares attached hereto as Annex I and incorporated herein by reference as if
fully set forth herein. The Investor acknowledges that the Offering is not being underwritten.

 

5.       The
Investor acknowledges that (i) there is no minimum offering amount and (ii) the Investor’s obligations under this Agreement,
including the obligation to purchase Shares are expressly not conditioned on the purchase by any or all of the Other Investors
(as defined in Annex I hereto) of the Shares that they have agreed to purchase from the Company or the sale by the Company of any
specified aggregate number of Shares.

 

6.       The
settlement of the Shares purchased by the Investor shall be by delivery by electronic book-entry at The Depository Trust Company
(“DTC”), registered in the Investor’s name and address as set forth below, and released by American Stock Transfer
& Trust Company, LLC, the Company’s transfer agent (the “Transfer Agent”), to the Investor at Closing (as
defined in Section 3.1 of Annex I hereto).

 

     

     

    

No
later than one (1) business day after the execution of this Agreement by the Investor and the Company, the Investor shall direct
the broker-dealer at which the account or accounts to be credited with the SHARES are maintained to set up a Deposit/Withdrawal
at Custodian (“DWAC”) instructing the Transfer Agent to credit such account or accounts with the SHARES.

 

after
the execution of this Agreement by the Investor and the Company, the Investor shall at Closing remit
by wire transfer the amount of funds equal to the aggregate purchase price for the SHARES being purchased by the Investor to the
following account:

 

	Bank:	 
	Bank Address:	 
	 	 
	Routing#:	 
	Acct#:	 
	Acct Name:	 

 

It
is the investor’s responsibility to (A) make the necessary wire transfer in a timely manner and (B) arrange for settlement
by way of DWAC in a timely manner. If the Investor does not deliver the aggregate purchase price for the SHARES or does not make
proper arrangements for settlement in a timely manner, the SHARES may not be delivered at Closing to the Investor or the Investor
may be excluded from the closing altogether.

 

7.       The
Investor represents that, except as set forth below, (a) it has had no position, office or other material relationship within the
past three years with the Company or persons known to it to be affiliates of the Company, (b) it is not a FINRA member or an Associated
Person (as such term is defined under the FINRA Membership and Registration Rules Section 1011) as of the Closing, and (c) neither
the Investor nor any group of Investors (as identified in a public filing made with the Commission) of which the Investor is a
part in connection with the Offering of the Shares, acquired, or obtained the right to acquire, 15% or more of the Common Stock
(or securities convertible into or exercisable for Common Stock) or the voting power of the Company on a post-transaction basis.

 

8.       The
Investor represents that it has received (or otherwise had made available to it by the filing by the Company of an electronic version
thereof with the Commission) the Base Prospectus, dated January 12, 2018, which is a part of the Company’s Registration Statement,
the documents incorporated by reference therein and any free writing prospectus (collectively, the “Disclosure Package”),
prior to or in connection with the receipt of this Agreement. The Investor acknowledges that, prior to the delivery of this Agreement
to the Company, the Investor will receive certain additional information regarding the Offering, including pricing information
(the “Offering Information”). Such information may be provided to the Investor by any means permitted under
the Act, including the Prospectus Supplement, a free writing prospectus and oral communications.

 

    	- 2 - 

     

    

9.       No
offer by the Investor to buy Shares will be accepted and no part of the Purchase Price will be delivered to the Company until the
Investor has received the Offering Information and the Company has accepted such offer by countersigning a copy of this Agreement,
and any such offer may be withdrawn or revoked by the Investor, without obligation or commitment of any kind, at any time prior
to the Company sending (orally, in writing or by electronic mail) notice of its acceptance of such offer. An indication of interest
will involve no obligation or commitment of any kind until the Investor has been delivered the Offering Information and this Agreement
is accepted and countersigned by or on behalf of the Company.

 

[The remainder of this
page is intentionally left blank.]

 

 

 

    	- 3 - 

     

    

Number of Shares:                                                                                           

 

Purchase Price Per Share:                                                                               

 

Aggregate Purchase Price:                                                                             

 

Please confirm that the foregoing correctly
sets forth the agreement between us by signing in the space provided below for that purpose.

 

 

	 	Dated as of:

	 	 	 	 
	 	INVESTOR

	 	 	 	 
	 	 	 	 
	 	By:	 
	 	Print Name:	 
	 	Title:	 
	 	Address:	 
	 	 
	 	 
	 	Facsimile:	 

 

	Agreed and Accepted
	This    day of [•], [•]:
	 	 	 
	KADMON HOLDINGS, INC.
	 	 	 
	 	 	 
	By: 	 	 
	Name:
	Title:

 

    	- 4 - 

     

    

ANNEX I

 

TERMS AND CONDITIONS FOR PURCHASE OF
SHARES

 

1.            Authorization
and Sale of the Shares. Subject to the terms and conditions of this Agreement, the Company has authorized the sale of the Shares.

 

2.            Agreement
to Sell and Purchase the Shares.

 

2.1       At
the Closing (as defined in Section 3.1), the Company will sell to the Investor, and the Investor will purchase from the
Company, upon the terms and conditions set forth herein, the number of Shares set forth on the last page of the Agreement to which
these Terms and Conditions for Purchase of Shares are attached as Annex I (the “Signature Page”) for
the aggregate purchase price therefor set forth on the Signature Page.

 

2.2       The
Company proposes to enter into substantially this same form of Subscription Agreement with certain other investors (the “Other
Investors”) and expects to complete sales of Shares to them. The Investor and the Other Investors are hereinafter sometimes
collectively referred to as the “Investors,” and this Agreement and the Subscription Agreements executed by
the Other Investors are hereinafter sometimes collectively referred to as the “Agreements.”

 

3.            Closings
and Delivery of the Shares and Funds. 

 

3.1       Closing.
The completion of the purchase and sale of the Shares, or a portion thereof, (the “Closing”) shall occur
upon delivery of the Shares against payment therefor on or about [•], which is the [•] business day following the date
of pricing of the Shares, or at such earlier date as the Company and Investors shall agree (the “Closing Date”),
in accordance with Rule 15c6-1 promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).
At the Closing, (a) the Company shall cause the Transfer Agent to deliver to the Investor the number of Shares set forth on the
Signature Page registered in the name of the Investor or, if so indicated on the Investor Questionnaire attached hereto as Exhibit
A, in the name of a nominee designated by the Investor and (b) the aggregate purchase price for the Shares being purchased
by the Investor will be delivered by or on behalf of the Investor to the Company.

 

3.2          Conditions
to the Company’s Obligations. (a) The Company’s obligation to issue and sell the Shares to the Investor shall be
subject to (i) the receipt by the Company of the purchase price for the Shares being purchased hereunder as set forth on the Signature
Page and (ii) the accuracy of the representations and warranties made by the Investor and the fulfillment of those undertakings
of the Investor to be fulfilled prior to the Closing Date.

 

(b)       Conditions
to the Investor’s Obligations. The Investor’s obligation to purchase the Shares as set forth on the Signature Page
will be subject to the completion of the Offering by the Company.

 

(c)       Disclaimer
Regarding Partial Settlement. The Investor’s obligations are expressly not conditioned on the purchase by any or all
of the Other Investors of the Shares that they have agreed to purchase from the Company or the sale by the Company of any specified
aggregate number of Shares to the Other Investors or in the concurrent registered public offering being conducted by the Company.

 

    	- 5 - 

     

    

3.3          Delivery
of Funds. Delivery by Electronic Book-Entry at The Depository Trust Company. After the execution of this Agreement
by the Investor and the Company, at Closing the Investor shall remit by wire transfer the amount of funds equal to the
aggregate purchase price for the Shares being purchased by the Investor to the following account designated by the Company:

 

	Bank:	 
	Bank Address:	 
	 	 
	Routing#:	 
	Acct#:	 
	Acct Name:	 

 

Investor shall also
furnish the Company a completed W-9 form (or, in the case of an Investor who is not a United States citizen or resident, a W-8
form).

 

3.4          Delivery
of Shares. Delivery by Electronic Book-Entry at The Depository Trust Company. No later than one (1) business day
after the execution of this Agreement by the Investor and the Company, the Investor shall direct the broker-dealer at which
the account or accounts to be credited with the Shares being purchased by such Investor are maintained, which broker/dealer shall
be a DTC participant, to set up a Deposit/Withdrawal at Custodian (“DWAC”) instructing American Stock Transfer
& Trust Company, LLC, the Company’s transfer agent, to credit such account or accounts with the Shares by means of an
electronic book-entry delivery. Such DWAC shall indicate the settlement date for the deposit of the Shares, which date shall be
the Closing. Simultaneously with the delivery to the Company by the Investor of the funds pursuant to Section 3.3 above,
the Company shall direct its transfer agent to credit the Investor’s account or accounts with the Shares pursuant to the
information contained in the DWAC.

 

4.            Representations,
Warranties and Covenants of the Investor.

 

The Investor acknowledges, represents and
warrants to, and agrees with, the Company that:

 

4.1       The
Investor (a) is knowledgeable, sophisticated and experienced in making, and is qualified to make decisions with respect to, investments
in shares presenting an investment decision like that involved in the purchase of the Shares, including investments in securities
issued by the Company and investments in comparable companies, (b) has answered all questions on the Signature Page and the Investor
Questionnaire and the answers thereto are true and correct as of the date hereof and will be true and correct as of the Closing
Date and (c) in connection with its decision to purchase the number of Shares set forth on the Signature Page, has received and
is relying solely upon (i) the Disclosure Package and the documents incorporated by reference therein and (ii) the Offering Information.

 

4.2       (a)
No action has been or will be taken in any jurisdiction outside the United States by the Company that would permit an offering
of the Shares, or possession or distribution of offering materials in connection with the issue of the Shares in any jurisdiction
outside the United States where action for that purpose is required and (b) if the Investor is outside the United States, it will
comply with all applicable laws and regulations in each foreign jurisdiction in which it purchases, offers, sells or delivers Shares
or has in its possession or distributes any offering material, in all cases

 

    	- 6 - 

     

    

at its own expense.

 

4.3       The
Investor has full right, power, authority and capacity to enter into this Agreement and to consummate the transactions contemplated
hereby and has taken all necessary action to authorize the execution, delivery and performance of this Agreement, and (b) this
Agreement constitutes a valid and binding obligation of the Investor enforceable against the Investor in accordance with its terms,
except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
creditors’ and contracting parties’ rights generally and except as enforceability may be subject to general principles
of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law) and except as to the enforceability
of any rights to indemnification or contribution that may be violative of the public policy underlying any law, rule or regulation
(including any federal or state securities law, rule or regulation).

 

4.4       The
Investor understands that nothing in this Agreement, the Prospectus or any other materials presented to the Investor in connection
with the purchase and sale of the Shares constitutes legal, tax or investment advice. The Investor has consulted such legal, tax
and investment advisors as it, in its sole discretion, has deemed necessary or appropriate in connection with its purchase of Shares.

 

4.5       Since
the date on which the Company first contacted such Investor about the Offering, the Investor has not engaged in any transactions
in the securities of the Company (including, without limitation, any Short Sales (as defined below) involving the Company’s
securities) and has not violated its obligations of confidentiality. Each Investor covenants that it will not engage in any transactions
in the securities of the Company (including Short Sales) or disclose any information about the contemplated offering (other than
to its advisors that are under a legal obligation of confidentiality) prior to the time that the transactions contemplated by this
Agreement are publicly disclosed. Each Investor agrees that it will not use any of the Shares acquired pursuant to this Agreement
to cover any short position in the Common Stock if doing so would be in violation of applicable securities laws. For purposes hereof,
“Short Sales” include, without limitation, all “short sales” as defined in Rule 200 promulgated
under Regulation SHO under the Exchange Act, whether or not against the box, and all types of direct and indirect stock pledges,
forward sales contracts, options, puts, calls, short sales, swaps, “put equivalent positions” (as defined in Rule 16a-1(h)
under the Exchange Act) and similar arrangements (including on a total return basis), and sales and other transactions through
non-US broker dealers or foreign regulated brokers.

 

5.            Survival
of Representations, Warranties and Agreements. Notwithstanding any investigation made by any party to this Agreement, all covenants,
agreements, representations and warranties made by the Company and the Investor herein will survive the execution of this Agreement,
the delivery to the Investor of the Shares being purchased and the payment therefor.

 

6.            Notices.
All notices, requests, consents and other communications hereunder will be in writing, will be mailed (a) if within the domestic
United States by first-class registered or certified airmail, or nationally recognized overnight express courier, postage prepaid,
or by facsimile or (b) if delivered from outside the United States, by International Federal Express or facsimile, and will be
deemed given (i) if delivered by first-class registered or certified mail domestic, three business days after so mailed, (ii) if
delivered by nationally recognized overnight carrier, one business day after so mailed, (iii) if delivered by International Federal
Express, two business days after so mailed and (iv) if delivered by facsimile, upon electric confirmation of receipt and will be
delivered and addressed as follows:

 

    	- 7 - 

     

    

		(a)	if to the Company, to:

 

Kadmon Holdings, Inc. 

450 East 29th Street 

New York, NY 10016 

Attention: General Counsel 

Email: steve@kadmon.com

 

with copies
to:

 

Sophia Hudson 

Davis Polk & Wardwell LLP 

450 Lexington Avenue 

New York, New York 10017 

Facsimile:
212-701-5800

 

(b)       if
to the Investor, at its address on the Signature Page hereto, or at such other address or addresses as may have been furnished
to the Company in writing.

 

7.            Changes.
This Agreement may not be modified or amended except pursuant to an instrument in writing signed by the Company and the Investor.

 

8.            Headings.
The headings of the various sections of this Agreement have been inserted for convenience of reference only and will not be
deemed to be part of this Agreement.

 

9.            Severability.
In case any provision contained in this Agreement should be invalid, illegal or unenforceable in any respect, the validity,
legality and enforceability of the remaining provisions contained herein will not in any way be affected or impaired thereby.

 

10.         Governing
Law. This Agreement will be governed by, and construed in accordance with, the internal laws of the State of New York, without
giving effect to the principles of conflicts of law that would require the application of the laws of any other jurisdiction.

 

11.         Counterparts.
This Agreement may be executed in two or more counterparts, each of which will constitute an original, but all of which, when
taken together, will constitute but one instrument, and will become effective when one or more counterparts have been signed by
each party hereto and delivered to the other parties. The Company and the Investor acknowledge and agree that the Company shall
deliver its counterpart to the Investor along with the Prospectus Supplement (or the filing by the Company of an electronic version
thereof with the Commission).

 

12.         Confirmation
of Sale. The Investor acknowledges and agrees that such Investor’s receipt of the Company’s counterpart to this
Agreement, together with the Prospectus Supplement (or the filing by the Company of an electronic version thereof with the Commission),
shall constitute written confirmation of the Company’s sale of Shares to such Investor.

 

13.         Press
Release. The Company and the Investor agree that the Company shall issue a press release announcing the Offering and disclosing
all material terms and conditions of the Offering prior to the opening of the financial markets in New York City on the business
day after the date hereof at the latest.

 

    	- 8 - 

     

    

[The remainder of this page is intentionally
left blank.]

 

 

 

    	- 9 - 

     

    

Exhibit
A

 

INVESTOR
QUESTIONNAIRE

 

Pursuant to Section 3 of Annex
I to the Agreement, please provide us with the following information:

 

	1.	The exact name that your Shares are to be registered in (attach additional sheets, if necessary). You may use a nominee name if appropriate:	 	 	 
	 	 	 	 	 
	2.	The relationship between the Investor and the registered holder listed in response to item 1 above:	 	 	 
	 	 	 	 	 
	3.	The mailing address of the registered holder listed in response to item 1 above:	 	 	 
	 	 	 	 	 
	4.	The Social Security Number or Tax Identification Number of the registered holder listed in the response to item 1 above:	 	 	 
	 	 	 	 	 
	5.	Name of DTC Participant (broker-dealer at which the account or accounts to be credited with the Shares are maintained):	 	 	 
	 	 	 	 	 
	6.	DTC Participant Number:	 	 	 
	 	 	 	 	 
	7.	Name of Account at DTC Participant being credited with the Shares **:	 	 	 
	 	 	 	 	 
	8.	Account Number at DTC Participant being credited with the Shares:	 	 	 

 

 

** In order to ensure timely settlement,
please cause your broker or custodian to include the name of the ultimate beneficial holder or sub-account to which the Shares
shall be credited in the DWAC authorization request.

 

SK
26596 0004 1365390EX-4.4

 Exhibit 4.4 

FORM OF DEBT SECURITY 
 [Face of
Security] 
 SIERRA ONCOLOGY, INC. 

[If applicable, insert—FOR PURPOSES OF THE ORIGINAL ISSUE DISCOUNT PROVISIONS OF THE INTERNAL REVENUE CODE OF 1986, THE ISSUE PRICE OF
THIS SECURITY IS     % OF ITS PRINCIPAL AMOUNT AT STATED MATURITY SET FORTH BELOW (ITS “PRINCIPAL AMOUNT”), THE AMOUNT OF ORIGINAL ISSUE DISCOUNT IS     % OF ITS PRINCIPAL AMOUNT, THE YIELD TO
MATURITY IS     % AND THE ISSUE DATE IS            ] 
 [IF
THE SECURITY IS A GLOBAL SECURITY, INSERT—THIS NOTE IS A GLOBAL SECURITY. IT IS EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY (AS HEREINAFTER DEFINED) OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES
HEREINAFTER DESCRIBED AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE 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 A NOMINEE OF
THE DEPOSITARY TO A SUCCESSOR OF THE DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.] 
  

			
	 No.
	  	$                
		  	CUSIP No.    

 SIERRA ONCOLOGY, Inc., a Delaware Corporation (herein called the “Company”, which term includes
any successor corporation under the Indenture referred to on the reverse hereof), for value received, hereby promises to pay to, or registered assigns, the principal sum
of                     Dollars
on                     [if Security is to bear interest prior to maturity, insert—, and to pay interest thereon
from                     or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually
on                     and                   
  in each year, commencing                 , at the rate of     % per annum, until the principal hereof is paid or made available for
payment [if applicable, insert—, provided that any principal and premium, and any such installment of interest, which is overdue shall bear interest at the rate of     % per annum (to the extent that the payment of such
interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand]. The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest, which shall be
the                     or                   
  (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Record Date and may
either be paid to the Person this Security (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 whereof shall be given
to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this
series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. [If the Security is not to bear interest prior to maturity, insert—The principal of this Security shall not bear
interest except in the case of a default in payment of principal upon acceleration, upon redemption or at Stated Maturity and in such case the overdue principal and any overdue premium shall bear interest at the rate of % per annum (to the extent
that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment. Interest on any overdue principal or premium shall be payable on demand. [Any such interest on
overdue principal or premium which is not paid on demand shall bear interest at the rate of % per annum (to the extent that the payment of such interest on interest shall be legally enforceable), from the date of such demand until the amount so
demanded is paid or made available for payment. Interest on any overdue interest shall be payable on demand.]]. 
 Payment of the principal
of (and premium, if any, on) and [any such] interest on this Security will be made at the office or agency of the Company maintained for that purpose in
                    in such coin or currency of [the United States of America] as at the time of payment is legal tender for payment of public and
private debts[; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Register]. 

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

  
 II-1 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal. 
  

							
	Dated:	 		 	SIERRA ONCOLOGY, Inc.
				
		 		 	By	 	  

		 		 		 	[Title]
				
	Attest and Countersign	 		 		 	
				
	  
	 		 		 	
	Secretary	 		 		 	

  
 II-2 

 [Reverse of Security.] 

SIERRA ONCOLOGY, INC. 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an Indenture dated as of                     , (herein called the “Indenture,” which term shall
have the meaning assigned to it in such instrument), between the Company and                     , 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 or rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof [,
limited in aggregate principal amount to $                     ]. 

[If the Security is to be subordinated, insert—The indebtedness evidenced by this Security is, to the extent and in the manner set forth
in the Indenture, expressly subordinated and subject in right of payment to the prior payment in full of all Senior Indebtedness (as defined in the Indenture) of the Company. This Security is issued subject to such provisions of the Indenture, and
each Holder of this Security, by accepting the same, agrees to and shall be bound by such provisions and authorizes and directs the Trustee on the Holder’s behalf to take such action as may be necessary or appropriate to acknowledge or
effectuate such subordination as provided in the Indenture and appoints the Trustee such Holder’s attorney-in-fact for any and all such purposes.] 

The Securities of this series are subject to redemption upon not less than 30 days’, and no more than 60 days, notice provided in the
manner set forth in the Indenture, [(1) on in any year commencing with the year and ending with the year at the Redemption Price equal to 100% of the principal amount, and (2)] at any time [on or after], as a whole or in part, at the election
of the principal the following Redemption Prices (expressed as percentages of the principal amount): If redeemed [on or before ,     %, and if redeemed] during the 12-month period beginning of the years indicated, 

 

													
	 Year
	  	
Redemption Price
	 	  	
Year
	 	  	
Redemption Price
	 
		  				  				  			
		  				  				  			
		  				  				  			

 and thereafter at a Redemption Price equal to % of the principal amount together in the case of any such redemption with
accrued interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to such Redemption Date will be payable to the Holders of such Securities of record at the close of business on the relevant record dates
referred to on the face hereof, all as provided in the Indenture. 
 [If the Security is to be redeemable in part, insert—In the event
of redemption of this Security in part only, a new Security or Securities of this series for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof.] 

[If the Security is to be subject to repayment at the option of the Holder, insert—To be repaid at the option of the Holder, the Company
must receive this Security, with the form of “Option to Elect Repayment” hereon duly completed, at an office or agency of the Company maintained for that purpose in (or at such other place of which the Company shall from time to time
notify the Holder of this Security) not less than nor more than days prior to the Repayment Date. The exercise of the repayment option by the Holder shall be irrevocable.] 

[If the Security is not to be subject to redemption at the option of the Company, insert—The Securities are not redeemable at the option
of the Company prior to Maturity.] 
 [If the Security is not to be an Original Issue Discount Security, insert—If an Event of Default
with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture.] 

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 Securities of each series under the Indenture to be affected at any time by the Company with the consent of the Holders of not less than a majority in aggregate principal amount of the Securities
at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all
Securities of such series, 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 Security shall be
conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent of waiver is
made upon this Security. 

 As provided in and subject to the provisions of the indenture, the Holder of this Security
shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a
continuing Event of Default with respect to the Securities of this series , the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the trustee to institute
proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series at
the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted
by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of (and premium, if any, on) and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 

[If the Security is to be in registered form, insert—As provided in the Indenture and subject to certain limitations therein set forth,
the transfer of this Security is registrable in the Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of (and premium, if any, on) and interest on this
Security are payable, duly endorsed by, or accompanied by a written instrument of 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 Securities of this series, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.] 

[The Securities of this series are issuable only in registered form in denominations of $ [and any integral multiple] [or increments of
$ in excess] thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series of a different authorized
denomination, as requested by the Holder surrendering the same.] 
 [No service charge shall be made for any such registration of transfer
or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.] 

[Prior to due presentment of this Security 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 Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.] 

[If the Security is a Global Security, insert—“Global Security” and “Global Securities” means a Security or
Securities evidencing all or a part of a series of Securities, issued to the Depositary (as hereinafter defined) for such Series or its nominee, and registered in the name of such Depositary or its nominee. “Depositary” means, with
respect to the Securities of any series issuable or issued in whole or in part in the form of one or more Global Securities, the person designated as the Depositary by the Company. 

No holder of any beneficial interest in this Security held on its behalf by a Depositary or a nominee of such Depositary shall have any rights
under the Indenture with respect to such Global Security, and such Depositary or nominee may be treated by the Company, the Trustee, and any agent of the Company or the Trustee as the owner of such Global Security for all purposes whatsoever.
Notwithstanding the foregoing, nothing herein shall impair, as between a Depositary and such holders of beneficial interests, the operation of customary practices governing the exercise of the rights of the Depositary as Holder of any Security. 

This Security is exchangeable, in whole but not in part, for Securities registered in the names of Persons other than the Depositary or its
nominee or in the name of a successor to the Depositary or a nominee of such successor depositary only if (i) the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for this Note or if at any time such
Depositary ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, and, in either case, a successor depositary is not appointed by the Company within 90 days, (ii) the Company in its discretion at any
time determines not to have all of the Securities of this series represented by one or more Global Security or Securities and notifies the Trustee thereof, or (iii) an Event of Default has occurred and is continuing with respect to the
Securities of this series. If this Security is exchangeable pursuant to the preceding sentence, it shall be exchangeable for Securities issuable in authorized denominations and registered in such names as the Depositary holding this Security shall
direct. Subject to the foregoing, this Security is not exchangeable, except for a Security or Securities of the same aggregate denominations to be registered in the name of such Depositary or its nominee or in the name of a successor to the
Depositary or a nominee of such successor depositary.] 
 [The Indenture entitles Holders to receive annual reports with respect to the
Trustee’s eligibility and qualifications to serve as Trustee by filing their names and addresses with the Trustee for that purpose within two years preceding and mailing of any such annual report.] 

 No recourse shall be had for the payment of the principal of (and premium, if any, on) or
interest on this Security, or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture of any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past,
present or future, of the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof
and as part of the consideration for the issue hereof, expressly waived and released. 
 All terms used in this Security which are defined
in the Indenture shall have the meanings assigned to them in the Indenture. 
 This Security, including without limitation the obligation of
the Company contained herein to pay the principal of (and premium, if any, on) and interest on this Security in accordance with the terms hereof and of the Indenture, shall be construed in accordance with and governed by the laws of the State of New
York. 
 [Trustee’s Certificate of Authentication.] 

This is one of the Securities of the series designated herein referred to in the within-mentioned Indenture. 

                     
                   , as 
  

			
	[Authenticating Agent for] the Trustee
		
	By	 	  

		 	Authorized Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00284-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00284-of-00352.parquet"}]]