Document:

Exhibit 4.2

 

Execution Version

 

 

ITC HOLDINGS CORP.

 

and

 

COMPUTERSHARE TRUST COMPANY, N.A.

 

(AS SUCCESSOR TO WELLS FARGO BANK, NATIONAL
ASSOCIATION)

 

as Trustee

 

________________________________

 

SIXTH
Supplemental Indenture

 

Dated as of September
22, 2022

 

Supplemental
to the Indenture

 

dated as of April 18,
2013

 

________________________________

 

Establishing
a series of Securities designated

 

4.950% Senior
Notes Due 2027

 

 

     

     

    

 

TABLE OF CONTENTS

 

Page

 

	Article One DEFINITIONS	1
	 	 
	Article Two TERMS AND ISSUANCE OF THE NOTES	5
	 	 
	Section 2.1.   	Issue of Notes	5
	Section 2.2.   	Form of Notes; Incorporation of Terms	5
	Section 2.3.   	Transfer and Exchange.	8
	Section 2.4.   	[Reserved].	19
	Section 2.5.   	Execution and Authentication	19
	Section 2.6.   	[Reserved].	19
	Section 2.7.   	Depositary for Global Notes	19
	Section 2.8.   	Place of Payment	19
	Section 2.9.   	Denominations	19
	Section 2.10.   	Book-Entry Provisions for the Global Notes	20
	Section 2.11.   	Restrictions on Liens	20
	Section 2.12.   	Restrictions on Sale and Leaseback Transactions	20
	 	 
	Article Three REDEMPTION	20
	 	 
	Article Four AMENDMENTS TO THE ORIGINAL INDENTURE	21
	 	 
	Section 4.1.   	Amendments to the Original Indenture	21
	 	 
	Article Five MISCELLANEOUS	24
	 	 
	Section 5.1.   	Execution as Supplemental Indenture	24
	Section 5.2.   	[Reserved].	24
	Section 5.3.   	Effect of Headings	24
	Section 5.4.   	Successors and Assigns	24
	Section 5.5.   	Separability Clause	24
	Section 5.6.   	Benefits of Sixth Supplemental Indenture	24
	Section 5.7.   	Execution and Counterparts	25
	Section 5.8.   	Governing Law	25
	Section 5.9.   	Ratification of Original Indenture	25
	Section 5.10.   	Trustee’s Disclaimer	25

 

	Exhibit A	Form of 4.950% Senior Notes due 2027
	Exhibit B	Form of Transfer Certificate

 

    i

     

    

 

SIXTH
SUPPLEMENTAL INDENTURE, dated as of September 22, 2022 (herein called the “Sixth Supplemental Indenture”), between
ITC Holdings Corp., a corporation duly organized and existing under the laws of the State of Michigan (hereinafter called the “Company”),
and Computershare Trust Company, N.A., as successor to Wells Fargo Bank, National Association, a national banking association, as Trustee
under the Original Indenture referred to below (hereinafter called the “Trustee”).

 

WITNESSETH:

 

WHEREAS, the Company has heretofore executed and
delivered to the Trustee an indenture dated as of April 18, 2013 (hereinafter called the “Original Indenture”
and, together with this Sixth Supplemental Indenture, the “Indenture”), to provide for the issuance from time to time
in one or more series of its debentures, notes, bonds or other evidences of indebtedness (herein called the “Securities”),
the form and terms of which are to be established as set forth in Sections 2.1, 2.2 and 3.1 of the Original Indenture;

 

WHEREAS, Section 9.1 of the Original Indenture
provides, among other things, that the Company and the Trustee may enter into indentures supplemental to the Original Indenture to, among
other things, establish the form and terms of the Securities of any series as permitted in Sections 2.1, 2.2 and 3.1 of the
Original Indenture;

 

WHEREAS, the Company desires to create a series
of the Securities in an aggregate principal amount of $600,000,000 to be designated the “4.950% Senior Notes due 2027”
(the “Notes”) and all action on the part of the Company necessary to authorize the issuance of the Notes under the
Original Indenture and this Sixth Supplemental Indenture has been duly taken; and

 

WHEREAS, all acts and things necessary to make
the Notes, when executed by the Company and completed, authenticated and delivered by the Trustee as provided in the Original Indenture
and this Sixth Supplemental Indenture, the valid and binding obligations of the Company and to constitute these presents a valid and binding
supplemental indenture and agreement according to its terms, have been done and performed;

 

NOW, THEREFORE, THIS SIXTH
SUPPLEMENTAL INDENTURE WITNESSETH:

 

That in consideration of the premises and of the
acceptance and purchase of the Notes by the holders thereof and of the acceptance of this trust by the Trustee, the Company covenants
and agrees with the Trustee, for the equal benefit of holders of the Notes, as follows:

 

Article
One

DEFINITIONS

 

Except to the extent such terms are otherwise defined
in this Sixth Supplemental Indenture or the context clearly requires otherwise, all terms used in this Sixth Supplemental Indenture which
are defined in the Original Indenture or the form of Notes attached hereto as Exhibit A, have the meanings assigned to them
therein.

 

    

     

    

 

In addition, as used in this Sixth Supplemental
Indenture, the following terms have the following meanings:

 

“144A Global Note” means, with
respect to the Notes, a Global Security substantially in the form of Exhibit A bearing the Global Note Legend and the Private
Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee, which shall be issued
in a denomination equal to the outstanding principal amount of the Notes sold in reliance on Rule 144A.

 

“Agent Members” has the meaning
specified in Section 2.2(iii).

 

“Applicable Procedures” means,
with respect to any transfer or exchange of beneficial ownership interests in a Global Note, the rules and procedures of the Depositary
that are applicable to such transfer or exchange.

 

“Certificated Security” means,
with respect to the Notes, a certificated Note registered in the name of the Holder thereof, substantially in the form of Exhibit A
hereto, that shall not bear the Global Note Legend and shall not have the “Schedule of Increases or Decreases in Global Security”
attached thereto.

 

“Clearstream” has the meaning
specified in Section 2.2(i).

 

“Company” has the meaning given
to such term in the recitals hereof.

 

“DTC” means The Depository Trust
Company, a New York corporation.

 

“Euroclear” has the meaning
specified in Section 2.2(i).

 

“Global Notes” has the meaning
given to such term in Section 2.10 hereof.

 

“Global Note Legend” means the
legend set forth in Section 2.3(v)(2), which is required to be placed on all Global Notes issued under this Sixth Supplemental Indenture.

 

“Indenture” has the meaning
given to such term in the recitals hereof.

 

“Indirect Participant” has the
meaning specified in Section 2.2(iv)(2).

 

“Non-U.S. Person” has the meaning
assigned to such term in Regulation S.

 

“Notes” has the meaning given
to such term in the recitals hereto.

 

“Original Indenture” has the
meaning given to such term in the recitals hereof.

 

“Par Call Date” means August
22, 2027 (the date that is one month prior to the maturity date of the Notes).

 

“Participant” has the meaning
specified in Section 2.2(iv)(2).

 

    2

     

    

 

“Purchase Agreement” means the
Purchase Agreement, dated as of September 8, 2022, among the Company, Barclays Capital Inc., J.P. Morgan Securities LLC, Scotia Capital
(USA) Inc. and TD Securities (USA) LLC, as representatives (collectively, the “Representatives”) of the initial purchasers
listed on Schedule A thereto.

 

“Private Placement Legend” means
the legend set forth in Section 2.3(v)(1) to be placed on all Notes issued under this Sixth Supplemental Indenture except where otherwise
permitted by the provisions of this Sixth Supplemental Indenture.

 

“QIB” has the meaning specified
in Section 2.2(i).

 

“Regulation S” means Regulation S
promulgated under the Securities Act.

 

“Regulation S Global Note”
means a Regulation S Temporary Global Note or Regulation S Permanent Global Note, as appropriate.

 

“Regulation S Permanent Global
Note” means, with respect to the Notes, a permanent Global Note in the form of Exhibit A hereto bearing the
Global Note Legend and the Private Placement Legend and deposited with or on behalf of, and registered in the name of, the
Depositary or its nominee, which shall be issued in a denomination equal to the outstanding principal amount of the applicable
Regulation S Temporary Global Note upon expiration of the applicable Restricted Period.

 

“Regulation S Temporary Global
Note” means, with respect to the Notes, a temporary Global Note in the form of Exhibit A hereto bearing the
Global Note Legend, the Private Placement Legend and the Regulation S Temporary Global Note Legend and deposited with or on
behalf of, and registered in the name of, the Depositary or its nominee, which shall be issued in a denomination equal to the
outstanding principal amount of the Notes initially sold in reliance on Rule 903 of Regulation S.

 

“Regulation S Temporary Global Note
Legend” means the legend set forth in Section 2.3(v)(3), which is required to be placed on all Global Notes issued under this
Sixth Supplemental Indenture.

 

“Restricted Certificated Security”
means a Certificated Security, which shall bear a Private Placement Legend.

 

“Restricted Global Note” means
a Global Note, which shall bear a Private Placement Legend and, if applicable, a Regulation S Temporary Global Note Legend.

 

“Restricted Period” means the
 “distribution compliance period” as defined in Regulation S.

 

“Rule 144” means Rule 144
under the Securities Act or any successor to such Rule.

 

“Rule 144A” means Rule
144A under the Securities Act or any successor to such Rule.

 

“Securities” has the meaning
given to such term in the recitals hereof.

 

    3

     

    

 

“Securities Custodian” has the
meaning specified in Section 2.2(i).

 

“series” has the meaning given
to such term in the recitals hereof.

 

“Sixth Supplemental Indenture”
has the meaning given to such term in the recitals hereof.

 

“Transfer Certificate” means
a written certification substantially in the form set forth in Exhibit B hereto.

 

“Treasury Rate” means, with
respect to any redemption date, the yield determined by the Company in accordance with the following two paragraphs:

 

(1)              
the Treasury Rate shall be determined by the Company after 4:15 p.m., New York City time (or after such time of day as yields on
U.S. government securities are posted daily by the Board of Governors of the Federal Reserve System), on the third Business Day preceding
the redemption date based upon the yield or yields for the most recent day that appear after such time on such day in the most recent
statistical release published by the Board of Governors of the Federal Reserve System designated as “Selected Interest Rates (Daily)
 — H.15” (or any successor designation or publication) (“H.15”) under the caption “U.S. government
securities — Treasury constant maturities — Nominal” (or any successor caption or heading) (“H.15 TCM”).
In determining the Treasury Rate, the Company shall select, as applicable: (1) the yield for the Treasury constant maturity on H.15 exactly
equal to the period from the redemption date to the Par Call Date (the “Remaining Life”); or (2) if there is
no such Treasury constant maturity on H.15 exactly equal to the Remaining Life, the two yields — one yield corresponding to the
Treasury constant maturity on H.15 immediately shorter than the Remaining Life and one yield corresponding to the Treasury constant maturity
on H.15 immediately longer than the Remaining Life — and will interpolate to the Par Call Date on a straight-line basis (using the
actual number of days) using such yields and rounding the result to three decimal places; or (3) if there is no such Treasury constant
maturity on H.15 shorter than or longer than the Remaining Life, the yield for the single Treasury constant maturity on H.15 closest to
the Remaining Life. For purposes of this paragraph, the applicable Treasury constant maturity or maturities on H.15 shall be deemed to
have a maturity date equal to the relevant number of months or years, as applicable, of such Treasury constant maturity from the redemption
date.

 

(2)               If
on the third Business Day preceding the redemption date H.15 TCM or any successor designation or publication is no longer published,
the Company shall calculate the Treasury Rate based on the rate per annum equal to the semi-annual equivalent yield to maturity at
11:00 a.m., New York City time, on the second business day preceding such redemption date of the United States Treasury security
maturing on, or with a maturity that is closest to, the Par Call Date, as applicable. If there is no United States Treasury security
maturing on the Par Call Date but there are two or more United States Treasury securities with a maturity date equally distant from
the Par Call Date, one with a maturity date preceding the Par Call Date and one with a maturity date following the Par Call Date,
the Company shall select the United States Treasury security with a maturity date preceding the Par Call Date. If there are two or
more United States Treasury securities maturing on the Par Call Date or two or more United States Treasury securities meeting the
criteria of the preceding sentence, the Company shall select from among these two or more United States Treasury securities the
United States Treasury security that is trading closest to par based upon the average of the bid and asked prices for such United
States Treasury securities at 11:00 a.m., New York City time. In determining the Treasury Rate in accordance with the terms of this
paragraph, the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average of
the bid and asked prices (expressed as a percentage of principal amount) at 11:00 a.m., New York City time, of such United States
Treasury security, and rounded to three decimal places.

 

    4

     

    

 

“Trustee” has the meaning given
to such term in the recitals hereof.

 

“Unrestricted Certificated Security”
means a Certificated Security which does not bear a Private Placement Legend or a Regulation S Temporary Global Note Legend.

 

“Unrestricted Global Note”
means, with respect to the Notes, a permanent Global Note substantially in the form of Exhibit A hereto that bears the
Global Note Legend and that has the “Schedule of Increases or Decreases in Global Security” attached thereto, and that
is deposited with or on behalf of and registered in the name of the Depositary or its nominee, representing the Notes, and that does
not bear the Private Placement Legend.

 

“U.S. Person” means a U.S. person
as defined in Rule 902(o) under the Securities Act.

 

Article
Two

TERMS AND ISSUANCE OF THE NOTES

 

Section
2.1.         
Issue of Notes. (a) A series of Securities which shall be designated the “4.950% Senior Notes due 2027”
shall be executed, authenticated and delivered in accordance with the provisions of, and shall in all respects be subject to, the terms,
conditions and covenants of, the Original Indenture and this Sixth Supplemental Indenture (including the form of Notes set forth hereto
as Exhibit A).

 

(b) The aggregate principal amount of the
Notes which may be authenticated and delivered under this Sixth Supplemental Indenture shall not, except as permitted by the provisions
of the Original Indenture, initially exceed $600,000,000; provided that the Company may from time to time or at any time, without the
consent of the Holders of the Notes, issue additional Notes having the same terms and conditions and the same CUSIP number as the Notes
in all respects, except for issue date, issue price and, if applicable, the first payment of interest thereon, which additional Notes
shall increase the aggregate principal amount of, and shall be consolidated and form a single series with, the Notes.

 

Section
2.2.         
Form of Notes; Incorporation of Terms. The Notes will be issuable in fully registered form as Global Securities, and
shall be substantially in the form of Exhibit A attached hereto. The Notes may have such notations, legends or endorsements
approved as to form by the Company and required, as applicable, by law, stock exchange or depository rule, agreements to which the Company
is subject and/or usage. The terms of the Notes set forth in Exhibits A are incorporated herein by reference and are part
of the terms of this Sixth Supplemental Indenture.

 

    5

     

    

 

(i)                
 Restricted Global Notes. The Notes are initially being offered and sold to qualified institutional buyers as defined in
Rule 144A (collectively, “QIBs” or individually a “QIB”) in reliance on Rule 144A under
the Securities Act or in offshore transactions in reliance on Regulation S under the Securities Act. The Notes shall be issued initially
in the form of one or more Restricted Global Notes, in fully registered form without interest coupons, which shall be deposited on behalf
of the purchasers of such Notes represented thereby with the Trustee, at its Corporate Trust Office, as Securities Custodian (the “Securities
Custodian”) for the Depositary, and registered in the name of its nominee, duly executed by the Company and authenticated by
the Trustee as hereinafter provided. With respect to the Notes, Notes initially offered and sold to QIBs in reliance on Rule 144A shall
be issued in the form of one or more 144A Global Notes, and Notes initially offered and sold in offshore transactions in reliance on Regulation
S under the Securities Act shall be issued in the form of one or more Regulation S Global Notes. Clearstream Banking S.A. (“Clearstream”)
and Euroclear Bank SA/NV (“Euroclear”) may hold beneficial interests in the Regulation S Global Notes on behalf of
their participants through their respective depositories. Beneficial interests in a Regulation S Global Note may also be held through
organizations other than Clearstream and Euroclear that are participants in DTC. The aggregate principal amount of each Restricted Global
Note may from time to time be increased or decreased by adjustments made on the records of the Securities Custodian as hereinafter provided,
subject in each case to compliance with the Applicable Procedures.

 

(ii)             
Regulation S Global Notes.

 

(1)               With
respect to the Notes, Notes offered and sold in reliance on Regulation S will be issued initially in the form of a
Regulation S Temporary Global Note, which will be deposited on behalf of the purchasers of the Notes represented thereby with
the Trustee, at its Corporate Trust Office, as Securities Custodian for the Depositary, and registered in the name of the nominee of
the Depositary for the accounts of designated agents holding on behalf of Euroclear or Clearstream, duly executed by the Company and
authenticated by the Trustee as hereinafter provided. Beneficial ownership interests in a Regulation S Temporary Global Note
shall not be exchangeable for interests in a 144A Global Note (except as set forth in Section 2.2(ii)(2)(b)), a
Regulation S Permanent Global Note (except as set forth in Section 2.2(ii)(2)(a)) or a Certificated Security prior to the
termination of the Restricted Period, and then only upon certification in accordance with Rule 903(b)(3)(ii)(B) of
Regulation S, in form reasonably satisfactory to the Trustee, to the effect that beneficial ownership interests in such
Regulation S Temporary Global Note are owned either by Non-U.S. Persons or U.S. Persons who purchased such interests in a
transaction that did not require registration under the Securities Act. With respect to the Notes, following the termination of the
Restricted Period, beneficial interests in the Regulation S Temporary Global Note will be exchanged for beneficial interests in
the Regulation S Permanent Global Note pursuant to the Applicable Procedures. Simultaneously with the authentication of the
Regulation S Permanent Global Note, the Trustee shall cancel the applicable Regulation S Temporary Global Note. The
aggregate principal amount of the Regulation S Temporary Global Note and the Regulation S Permanent Global Note may from
time to time be increased or decreased by adjustments made on the records of the Trustee and the Depositary or its nominee, as the
case may be, in connection with transfers of interests therein as hereinafter provided.

 

    6

     

    

 

(2)              
Prior to the expiration of the Restricted Period, beneficial interests in a Regulation S Temporary Global Note may only be
sold, pledged or transferred through Euroclear or Clearstream (as Indirect Participants (as defined below)) or Participants (as defined
below) or Indirect Participants acting for and on behalf of Euroclear and Clearstream, and only:

 

		a.	for interests in a Regulation S Permanent Global Note, and then only upon certification in form reasonably satisfactory to the
Trustee that interests in such Regulation S Temporary Global Note are owned either by Non-U.S. Persons or U.S. Persons who purchased
such interests in a transaction that did not require registration under the Securities Act; or

 

		b.	for beneficial interests in a 144A Global Note, and then only if the transferor first delivers to the Trustee a Transfer Certificate
to the effect that:

 

		i.	the transfer of the beneficial interests in the Regulation S Temporary Global Note is being made in accordance with Rule 144A;
and

 

		ii.	the beneficial interests in the Regulation S Temporary Global Note is being transferred to a Person:

 

		1)	whom the transferor reasonably believes to be a QIB within the meaning of Rule 144A purchasing for its own account or the account
of a QIB in a transaction meeting the requirements of Rule 144A; and

 

		2)	accordance with all applicable securities laws of the states of the United States; or

 

		c.	to the Company or its subsidiaries.

 

(3)              
Euroclear and Clearstream Procedures Applicable. The provisions of the “Operating Procedures of the Euroclear System”
and “Terms and Conditions Governing Use of Euroclear” published by Euroclear and the “General Terms and Conditions of
Clearstream Banking” and “Customer Handbook” published by Clearstream will be applicable to transfers of beneficial
interests in the Regulation S Temporary Global Note and the Regulation S Permanent Global Note that are held by participants
through Euroclear or Clearstream.

 

    7

     

    

 

(iii)           
 Global Notes in General. Each Global Note shall represent such of the Outstanding Notes as shall be specified therein and
each shall provide that it shall represent the aggregate principal amount of Outstanding Notes from time to time endorsed thereon and
that the aggregate principal amount of Outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate,
to reflect exchanges, redemptions or purchases of such Notes. Any endorsement of a Global Note to reflect the amount of any increase or
decrease in the principal amount of Outstanding Notes represented thereby shall be made by the Securities Custodian in accordance with
the standing instructions and procedures existing between the Depositary and the Securities Custodian. Neither any members of, or participants
in, the Depositary (“Agent Members”) nor any other Persons on whose behalf Agent Members may act shall have rights
under this Sixth Supplemental Indenture with respect to any Global Note held in the name of the Depositary or any nominees thereof, or
under the Global Note, and the Depositary (including, for this purpose, their nominees) may be treated by the Company, the Trustee and
any agent of the Company or the Trustee as the sole owner and Holder of such Global Note for all purposes whatsoever. Notwithstanding
the foregoing, nothing herein shall (A) prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect
to any written certification, proxy or other authorization furnished by the Depositary or (B) impair, as between the Depositary, its Agent
Members and any other Person on whose behalf an Agent Member may act, the operation of customary practices governing the exercise of the
rights of a Holder of any Note.

 

(iv)            
Certificated Securities. Certificated Securities shall be issued only under the limited circumstances provided in Section
2.3(i)(1) hereof.

 

Section
2.3.          Transfer
and Exchange.

 

(i)                
Transfer and Exchange of Global Notes.

 

(1)               Certificated
Securities shall be issued in exchange for interests in any Global Note only if (a) the Depositary notifies the Company that it
is unwilling or unable to continue as depository for such Global Note or if it at any time shall no longer be eligible or in good
standing under the Exchange Act or other applicable statute or regulation and no successor depository is appointed by the Company
within 90 days of such notice or the Company becomes aware of such ineligibility, (b) there has occurred and is continuing an
Event of Default with respect to the Notes entitling the Holders of Notes to accelerate the maturity of such Notes in accordance
with Section 5.2 of the Original Indenture or (c) at any time the Company determines, in its sole discretion, that the Notes or
portion thereof issued or issuable in the form of one or more Global Notes shall no longer be represented by such Global Notes. In
any of the foregoing cases, the Company shall execute, and the Trustee shall, upon receipt of a Company Order for the authentication
and delivery of Certificated Securities in exchange in whole or in part for such Global Note, authenticate and deliver Certificated
Securities, in definitive form in an aggregate principal amount equal to the principal amount of such Global Notes in exchange
therefor. Only Restricted Certificated Notes shall be issued in exchange for beneficial interests in Restricted Global Notes, and
only Unrestricted Certificated Notes shall be issued in exchange for beneficial interests in Unrestricted Global Notes. Certificated
Securities issued in exchange for beneficial interests in Global Notes shall be registered in such names and shall be in such
authorized denominations as the Depositary, pursuant to instructions from its direct or indirect participants or otherwise, shall
instruct the Trustee. Upon the exchange of the entire principal amount of a Global Note for Certificated Securities, such Global
Note shall be canceled by the Trustee or its agent. The Trustee shall deliver at its Corporate Trust Office such Certificated
Securities to the Persons in whose names such Securities are so registered. Such exchange shall be effected in accordance with the
Applicable Procedures. Nothing herein shall require the Trustee to communicate directly with beneficial owners, and the Trustee
shall in connection with any transfers hereunder be entitled to rely on instructions received through the registered Holder.

 

    8

     

    

 

In the event that Certificated Securities
are issued in exchange for beneficial interests in Global Notes in accordance with the foregoing paragraph and, thereafter, the events
or conditions specified in this Section 2.3(i)(1) which required such exchange shall have ceased to exist, the Company shall give notice
to the Trustee and to the Holders stating that Holders may exchange Certificated Securities for interests in Global Notes by complying
with the procedures set forth in this Sixth Supplemental Indenture and briefly describing such procedures and the events or circumstances
requiring that such notice be given.

 

(2)              
Notwithstanding any other provisions of this Sixth Supplemental Indenture other than the provisions set forth in Section 2.3(i)(1)
hereof, a Global Note 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 any such nominee to successor Depositary or
a nominee of such successor Depositary. Nothing in this Section 2.3(i)(2) shall prohibit or render ineffective any transfer of a beneficial
interest in a Global Note effected in accordance with the other provisions of this Section 2.3.

 

(ii)              Transfer
and Exchange. The Notes are issuable only in registered form. Subject to this Section 2.3(ii), a Holder may transfer a Note only
by written application to the Trustee stating the name of the proposed transferee and otherwise complying with the terms of this
Sixth Supplemental Indenture. No such transfer shall be effected until, and such transferee shall succeed to the rights of a Holder
only upon, final acceptance and registration of the transfer by the Trustee in the Security Register. Prior to the registration of
any transfer by a Holder as provided herein, the Company, the Trustee and any agent of the Company shall treat the person in whose
name the Note is registered as the owner thereof for all purposes whether or not the Note shall be overdue, and neither the Company,
the Trustee nor any such agent shall be affected by notice to the contrary. Furthermore, any Holder of a Global Note shall, by
acceptance of such Global Note, agree that transfers of beneficial interests in such Global Note may be effected only through a book
entry system maintained by the Holder of such Global Note (or its agent) in compliance with its normal procedures and that ownership
of a beneficial interest in the Note shall be required to be reflected in a book entry system. When Notes are presented to the
Trustee with a request to register the transfer or to exchange them for an equal principal amount of Notes of other authorized
denominations, the Trustee shall register the transfer or make the exchange as requested if its requirements for such transactions
are met (including that such Notes are duly endorsed or accompanied by a written instrument of transfer in form satisfactory to the
Trustee and the Company, duly executed by the Holder thereof or his attorney duly authorized in writing). To permit registrations of
transfers and exchanges, the Company shall execute and the Trustee shall authenticate and deliver such Notes.

 

    9

     

    

 

(iii)           
Transfer and Exchange of Certificated Securities. When Certificated Securities are presented by a Holder to the Trustee
with a request (x) to register the transfer of the Certificated Securities to a person who will take delivery thereof in the form
of Certificated Securities; or (y) to exchange such Certificated Securities for an equal principal amount of Certificated Securities
of Notes of other authorized denominations, the Trustee shall register the transfer or make the exchange as requested; provided, however,
that the Certificated Securities presented or surrendered for registration of transfer or exchange:

 

(1)              
shall be duly endorsed or accompanied by a written instrument of transfer meeting the requirements of the fifth paragraph of Section
3.5 of the Original Indenture; and

 

(2)              
in the case of a Restricted Certificated Note, such request shall be accompanied by the following additional information and documents,
as applicable:

 

		a.	if such Restricted Certificated Note is being delivered to the Trustee by a Holder for registration in the name of such Holder, without
transfer, or such Restricted Certificated Note is being transferred to the Company or a Subsidiary of the Company, a certification to
that effect from such Holder (in substantially the form set forth in the Transfer Certificate);

 

		b.	if such Restricted Certificated Note is being transferred to (i) a person the Holder reasonably believes is a QIB in accordance with
Rule 144A, (ii) outside the United States in compliance with Rule 904 under the Securities Act or (iii) pursuant to an effective registration
statement under the Securities Act, a certification to that effect from such Holder (in substantially the form set forth in the Transfer
Certificate); or

 

		c.	if such Restricted Certificated Note is being transferred pursuant to an exemption from the registration requirements of the Securities
Act in accordance with Rule 144, a certification to that effect from such Holder (in
substantially the form set forth in item 3 of the Transfer Certificate) and, if the Company, the Trustee or the Security Registrar so
requests, a customary opinion of counsel, certificates and other information reasonably acceptable to the Company and the Trustee to the
effect that such transfer is in compliance with the Securities Act, and

 

    10

     

    

 

In the case of a transfer pursuant to Section
2.3(iii)(2)(b)(iii) or Section 2.3(iii)(2)(c), the Notes delivered to the transferee shall be in the form of an Unrestricted Certificated
Security, and shall not bear any Private Placement Legend or Regulation S Temporary Global Note Legend.

 

(iv)            
Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and exchange of beneficial interests in
the Global Notes shall be effected through the Depositary, in accordance with the provisions of this Sixth Supplemental Indenture and
the Applicable Procedures. Beneficial interests in the Restricted Global Notes shall be subject to restrictions on transfer comparable
to those set forth herein to the extent required by the Securities Act. Transfers of beneficial interests in the Global Notes also shall
require compliance with either subparagraph (1) or (2) below, as applicable, as well as one or more of the other following subparagraphs,
as applicable:

 

(1)              
Transfer of Beneficial Interests in the Same Global Note. Beneficial interests in any Restricted Global Notes may be transferred
to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in accordance with the transfer
restrictions set forth in the Private Placement Legend; provided, however, that prior to the expiration of the Restricted Period, transfers
of beneficial interests in a Regulation S Global Note may not be made to a U.S. Person or for the account or benefit of a U.S. Person
(other than an Initial Purchaser, as such term is defined in the Purchase Agreement) except in connection with a transfer pursuant to
Section 2.2(ii)(2). Beneficial interests in any Unrestricted Global Note may be transferred to Persons who take delivery thereof in the
form of a beneficial interest in an Unrestricted Global Note. Except as may be required by the Applicable Procedures, no written orders
or instructions shall be required to be delivered to the Trustee to effect the transfers described in this Section 2.3(iv)(1).

 

(2)               Transfers
and Exchanges of Beneficial Interests in Global Notes not subject to Section 2.3(iv)(1). In connection with all transfers and
exchanges of beneficial interests that are not subject to Section 2.3(iv)(1) above, the transferor of such beneficial interest must
deliver to the Trustee either (i) a written order from a participant of the Depositary (a “Participant”) or an
entity that clears through or maintains a custodial relationship with a Participant (an “Indirect Participant”)
given to the Depositary in accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a
beneficial interest in another Global Note in an amount equal to the beneficial interests to be transferred or exchanged and (ii)
instructions given in accordance with the Applicable Procedures containing information regarding the Participant account to be
credited with such increase. Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global
Notes contained in the Indenture, this Sixth Supplemental Indenture and the Notes or otherwise applicable under the Securities Act,
the Trustee shall adjust the principal amount of the relevant Global Notes.

 

    11

     

    

 

(3)              
Transfer of Beneficial Interests to Another Restricted Global Note. A beneficial interest in any Restricted Global Note
may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Note if the
transfer complies with the requirements of Section 2.3(iv)(2) above and the Registrar receives the following:

 

		a.	If the transferee is to take delivery in the form of a beneficial interest in the 144A Global Note, then the transferor must deliver
a Transfer Certificate, including the certifications in item (1) thereof; and

 

		b.	If the transferee is to take delivery in the form of a beneficial interest in a Regulation S Global Note, then the transferor must
deliver a Transfer Certificate, including the certifications in item (2) thereof.

 

(4)              
Transfer of a Beneficial Interest in a Restricted Global Note for a Beneficial Interest in an Unrestricted Global Note.
Any person having a beneficial interest in a Restricted Global Note may upon request, subject to the Applicable Procedures, transfer such
beneficial interest to a person who is required or permitted to take delivery thereof in the form of an Unrestricted Global Note. Upon
receipt by the Trustee of written instructions or such other form of instructions as is customary for the Depositary, from the Depositary
or its nominee on behalf of any person having a beneficial interest in a Restricted Global Note and the following additional information
and documents in such form as is customary for the Depositary from the Depositary or its nominee on behalf of the person having such beneficial
interest in the Restricted Global Note (all of which may be submitted by facsimile or electronically):

 

		a.	if such beneficial interest is being transferred pursuant to an effective registration statement under the Securities Act, a certification
to that effect from the transferor (in substantially the form set forth in the Transfer Certificate); or

 

		b.	if such beneficial interest is being transferred pursuant to an exemption from the registration requirements of the Securities Act
Rule 144, a certification to that effect from the transferor (in substantially the form set forth in the Transfer Certificate) and, if the Company or the Trustee
so requests, a customary opinion of counsel, certificates and other information reasonably acceptable to the Company and the Trustee to
the effect that such transfer is in compliance with the Securities Act,

 

    12

     

    

 

the Trustee, as registrar and Securities
Custodian, shall reduce or cause to be reduced the aggregate principal amount of the Restricted Global Note by the appropriate principal
amount and shall increase or cause to be increased the aggregate principal amount of the Unrestricted Global Note by a like principal
amount. Such transfer shall otherwise be effected in accordance with the Applicable Procedures. If no Unrestricted Global Note is then
outstanding, the Company shall execute and the Trustee shall, upon receipt of a Company Order (which the Company agrees to deliver promptly),
authenticate and deliver an Unrestricted Global Note.

 

(5)              
Transfers of Certificated Securities for Beneficial Interest in Global Notes. If Certificated Securities are presented by
a Holder to the Trustee with a request (x) to register the transfer of such Certificated Securities to a person who will take delivery
thereof in the form of a beneficial interest in a Global Note, which request shall specify whether such Global Note will be a Restricted
Global Note or an Unrestricted Global Note; or (y) to exchange such Certificated Securities for an equal principal amount of beneficial
interests in a Global Note, which beneficial interests will be owned by the Holder transferring such Certificated Securities (provided
that in the case of such an exchange, Restricted Certificated Securities may be exchanged only for Restricted Global Notes and Unrestricted
Certificated Securities may be exchanged only for Unrestricted Global Notes), the Trustee shall register the transfer or make the exchange
as requested by canceling such Certificated Security and causing the aggregate principal amount of the Global Note to be increased accordingly
and, if no such Global Note is then outstanding, the Company shall issue and the Trustee shall authenticate and deliver a new Global Note;
provided, however, that:

 

		a.	the Certificated Securities presented or surrendered for registration of transfer or exchange shall be duly endorsed or accompanied
by a written instrument of transfer meeting the requirements of the fifth paragraph of Section 3.5 of the Original Indenture;

 

		b.	in the case of a Restricted Certificated Security to be transferred for a beneficial interest in an Unrestricted Global Note, such
request shall be accompanied by the following additional information and documents, as applicable:

 

		i.	if such Restricted Certificated Security is being transferred pursuant to an effective registration statement under the Securities Act, a certification to that
effect from such Holder (in substantially the form set forth in the Transfer Certificate); or

 

    13

     

    

 

		ii.	if such Restricted Certificated Security is being transferred pursuant to an exemption from the registration requirements of the Securities
Act in accordance with Rule 144, a certification to that effect from such Holder (in substantially the form set forth in item 3 of the
Transfer Certificate) and, if the Company, the Trustee or the Security Registrar so requests, a customary opinion of counsel, certificates
and other information reasonably acceptable to the Company and the Trustee to the effect that such transfer is in compliance with the
Securities Act;

 

		c.	in the case of a Restricted Certificated Security to be transferred or exchanged for a beneficial interest in a Restricted Global
Note, such request shall be accompanied by a certification from such Holder (in substantially the form set forth in the Transfer Certificate)
to the effect that such Restricted Certificated Security is being transferred either (a) to a person the Holder reasonably believes is
a QIB (which, in the case of an exchange, shall be such Holder) in accordance with Rule 144A or (b) if such Restricted Security is being
transferred pursuant to and in accordance with Rule 903 or 904 under the Securities Act, a certification to that effect from such Holder
(in substantially the form set forth in item 2 of the Transfer Certificate); and

 

		d.	in the case of an Unrestricted Certificated Security to be transferred or exchanged for a beneficial interest in an Unrestricted Global
Note, such request need not be accompanied by any additional information or documents.

 

(v)              
Legends.

 

(1)              
Private Placement Legend. Except as permitted below, each Restricted Global Note and each Restricted Certificated Security
shall bear the legend in substantially the following form:

 

“THIS SECURITY (OR ITS
PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), AND THIS SECURITY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF
SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THIS SECURITY IS HEREBY NOTIFIED THAT THE SELLER OF THIS
SECURITY MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A
THEREUNDER.

 

    14

     

    

 

THE HOLDER OF THIS SECURITY AGREES FOR
THE BENEFIT OF THE COMPANY THAT (A) THIS SECURITY MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED, ONLY (I) TO THE COMPANY OR
ITS SUBSIDIARIES, (II) IN THE UNITED STATES TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED
IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (III) OUTSIDE THE UNITED STATES IN AN OFFSHORE
TRANSACTION IN ACCORDANCE WITH RULE 904 UNDER THE SECURITIES ACT, (IV) PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF
THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE), (V) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY, IF THE COMPANY SO REQUESTS) OR (VI) PURSUANT TO
AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, AND IN EACH OF CASES (I) THROUGH (VI) IN ACCORDANCE WITH ANY APPLICABLE
SECURITIES LAWS OF ANY STATE OF THE UNITED STATES, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER
OF THIS SECURITY FROM IT OF THE RESALE RESTRICTIONS REFERRED TO IN (A) ABOVE.”

 

Each Restricted Certificated Security shall
bear the following legend on the face thereof:

 

“In connection with any transfer,
the Holder will deliver to the Trustee and the Company such certificates and other information as such Trustee or Company may reasonably
require to confirm that the transfer complies with the foregoing restrictions.”

 

(2)              
Global Note Legend. Each Global Note shall bear the legend in substantially the following form:

 

“Unless this certificate is
presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the issuer
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 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.

 

    15

     

    

 

THIS SECURITY IS A GLOBAL SECURITY AS REFERRED
TO IN THE INDENTURE HEREINAFTER REFERENCED. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR THE INDIVIDUAL SECURITIES REPRESENTED
HEREBY, THIS GLOBAL SECURITY 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 ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY
OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.”

 

(3)              
Regulation S Temporary Global Note Legend. Each Regulation S Temporary Global Note shall bear a legend in substantially
the following form:

 

“EXCEPT AS SET FORTH BELOW, BENEFICIAL
OWNERSHIP INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL NOTE WILL NOT BE EXCHANGEABLE FOR INTERESTS IN THE PERMANENT REGULATION S
GLOBAL NOTE OR ANY OTHER SECURITY REPRESENTING AN INTEREST IN THE SECURITIES REPRESENTED HEREBY WHICH DO NOT CONTAIN A LEGEND CONTAINING
RESTRICTIONS ON TRANSFER, UNTIL THE EXPIRATION OF THE 40-DAY “DISTRIBUTION COMPLIANCE PERIOD” (WITHIN THE MEANING OF RULE
903(B)(3) OF REGULATION S UNDER THE SECURITIES ACT) AND THEN ONLY UPON CERTIFICATION IN FORM REASONABLY SATISFACTORY TO THE TRUSTEE
THAT SUCH BENEFICIAL INTERESTS ARE OWNED EITHER BY NON-U.S. PERSONS OR U.S. PERSONS WHO PURCHASED SUCH INTERESTS IN A TRANSACTION THAT
DID NOT REQUIRE REGISTRATION UNDER THE SECURITIES ACT. DURING SUCH 40-DAY DISTRIBUTION COMPLIANCE PERIOD, BENEFICIAL OWNERSHIP IN THIS
TEMPORARY REGULATION S GLOBAL Note MAY ONLY BE SOLD, PLEDGED OR TRANSFERRED THROUGH
EUROCLEAR BANK SA/NV OR CLEARSTREAM BANKING S.A. AND ONLY (1) TO THE COMPANY OR ITS SUBSIDIARIES, (2) WITHIN THE UNITED STATES
TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT)
IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (3) OUTSIDE THE UNITED STATES IN A TRANSACTION IN ACCORDANCE WITH RULE 904
UNDER THE SECURITIES ACT OR (4) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH OF CASES (1) THROUGH
(4) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES AND OTHER JURISDICTIONS.

 

    16

     

    

 

HOLDERS OF INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL
Note WILL NOTIFY ANY PURCHASER OF THIS Note
OF THE RESALE RESTRICTIONS REFERRED TO ABOVE, IF THEN APPLICABLE.

 

BENEFICIAL INTERESTS IN THIS TEMPORARY
REGULATION S GLOBAL Note MAY BE EXCHANGED FOR INTERESTS IN A RESTRICTED GLOBAL NOTE
ONLY IF (1) SUCH EXCHANGE OCCURS IN CONNECTION WITH A TRANSFER OF THE SECURITIES IN COMPLIANCE WITH RULE 144A, AND (2) THE TRANSFEROR
OF THE TEMPORARY REGULATION S GLOBAL Note FIRST DELIVERS TO THE TRUSTEE A WRITTEN
CERTIFICATE (IN THE FORM ATTACHED TO THIS CERTIFICATE) TO THE EFFECT THAT THE REGULATION S GLOBAL Note
IS BEING TRANSFERRED (A) TO A PERSON WHO THE TRANSFEROR REASONABLY BELIEVES TO BE A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING
OF RULE 144A, (B) TO A PERSON WHO IS PURCHASING FOR ITS OWN ACCOUNT OR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A AND (C) IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE STATES OF THE UNITED
STATES AND OTHER JURISDICTIONS.

 

BENEFICIAL INTERESTS IN A RESTRICTED GLOBAL
Note MAY BE TRANSFERRED TO A PERSON WHO TAKES DELIVERY IN THE FORM OF AN INTEREST IN THE
REGULATION S GLOBAL Note, WHETHER BEFORE OR AFTER THE EXPIRATION OF THE 40-DAY DISTRIBUTION
COMPLIANCE PERIOD, ONLY IF THE TRANSFEROR FIRST DELIVERS TO THE TRUSTEE A WRITTEN CERTIFICATE (IN THE FORM ATTACHED TO THIS CERTIFICATE)
TO THE EFFECT THAT IF SUCH TRANSFER IS BEING MADE IN ACCORDANCE WITH RULE 903 OR 904 OF REGULATION S OR RULE 144 (IF AVAILABLE)
AND THAT, IF SUCH TRANSFER OCCURS PRIOR TO THE EXPIRATION OF THE 40-DAY DISTRIBUTION COMPLIANCE PERIOD, THE INTEREST TRANSFERRED WILL
BE HELD IMMEDIATELY THEREAFTER THROUGH EUROCLEAR BANK SA/NV OR CLEARSTREAM BANKING S.A.

 

THE FOREGOING LEGEND MAY BE REMOVED FROM
THIS SECURITY AFTER 40 DAYS BEGINNING ON AND INCLUDING THE LATER OF (A) THE DATE OF WHICH THE SECURITIES ARE OFFERED TO PERSONS OTHER
THAN DISTRIBUTORS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT) AND (B) THE ORIGINAL ISSUE DATE OF THE SECURITIES.”

 

(4)              
ERISA Legend. Each Note will bear a legend in substantially the following form:

 

“EACH HOLDER OF THIS SECURITY
OR ANY INTEREST HEREIN WILL BE DEEMED TO HAVE REPRESENTED AND WARRANTED AS FOLLOWS THAT EITHER: (A) NO PORTION OF THE ASSETS USED BY
SUCH HOLDER TO ACQUIRE OR HOLD THIS SECURITY OR ANY INTEREST HEREIN CONSTITUTES THE ASSETS OF ANY (I) “EMPLOYEE BENEFIT PLAN
 ” (WITHIN THE MEANING OF SECTION 3(3) OF THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
(“ERISA”)) THAT IS SUBJECT TO TITLE I OF ERISA, (II) PLAN, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER ARRANGEMENT THAT IS
SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR PROVISIONS UNDER ANY OTHER
U.S. OR NON-U.S. FEDERAL, STATE, LOCAL OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE
(COLLECTIVELY, “SIMILAR LAWS”), OR (III) ENTITIES WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE THE ASSETS OF ANY OF
THE FOREGOING DESCRIBED IN CLAUSES (I) AND (II), PURSUANT TO ERISA OR OTHERWISE; OR (B) THE ACQUISITION AND HOLDING OF THIS
SECURITY, OR ANY INTEREST HEREIN BY SUCH HOLDER, WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA
OR SECTION 4975 OF THE CODE OR A SIMILAR VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS.”

 

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(vi)            
Upon any sale or transfer of a Restricted Global Note or Restricted Certificated Security (x) pursuant to Rule 144, or (y) pursuant
to an effective registration statement under the Securities Act, as a result of which, in the case of a Security transferred pursuant
to clause (x), such Security shall cease to be a “restricted security” within the meaning of Rule 144:

 

(1)              
in the case of any Restricted Certificated Security, the Trustee shall permit the Holder thereof to exchange such Restricted Certificated
Security for an Unrestricted Certificated Security, or (under the circumstances described in Section 2.3(iv)(5) hereof) to transfer such
Restricted Certificated Security to a transferee who shall take such Security in the form of a beneficial interest in an Unrestricted
Global Note, and in each case shall rescind any restriction on the transfer of such Security; provided, however, that the Holder of such
Restricted Certificated Security shall, in connection with such exchange or transfer, comply with the other applicable provisions of this
Article Two;

 

(2)              
in the case of any beneficial interest in a Restricted Global Note, the Trustee shall permit the beneficial owner thereof to transfer
such beneficial interest to a transferee who shall take such interest in the form of a beneficial interest in an Unrestricted Global Note
and shall rescind any restriction on transfer of such beneficial interest; provided, however, that such Unrestricted Global Note shall
continue to be subject to the provisions of Section 2.3(i)(2) hereof, and provided further, however, that the owner of such beneficial
interest shall, in connection with such transfer, comply with the other applicable provisions of this Article Two; and

    18

     

    

 

 

(3)              
 Upon the exchange, registration of transfer or replacement of Notes not bearing the Private Placement Legend or the Regulation S
Temporary Global Note Legend, the Company shall execute, and the Trustee shall authenticate and deliver in certificated or global form,
as applicable, in authorized denominations, Notes that do not bear such legends and which do not have a Transfer Certificate attached
thereto.

 

(vii)         
Upon a sale or transfer after the expiration of the Restricted Period of any Notes acquired pursuant to Regulation S, all
requirements that such Notes bear the Regulation S Temporary Global Note Legend shall cease to apply (but requirements requiring
such Notes to be in global form and bear the Global Note Legend and the Private Placement Legend, to the extent applicable, shall apply).

 

(viii)       
In connection with any proposed exchange of an interest in a Global Note for a Certificated Security, the Holder shall provide
or cause to be provided to the Trustee all information necessary to allow the Trustee to comply with any applicable tax reporting obligations,
including without limitation any cost basis reporting obligations under Internal Revenue Code Section 6045. The Trustee may rely on information
provided to it and shall have no responsibility to verify or ensure the accuracy of such information.

 

Section
2.4.          [Reserved].

 

Section
2.5.         
Execution and Authentication. The Trustee, upon a Company Order and pursuant to the terms of the Original Indenture
and this Sixth Supplemental Indenture, shall authenticate and deliver the Notes for original issue in an initial aggregate principal
amount of $600,000,000. Such Company Order shall specify the amount of Notes to be authenticated, the date on which the original issue
of Notes is to be authenticated and the aggregate principal amount of Notes outstanding on the date of authentication. All of the Notes
issued under this Sixth Supplemental Indenture shall be treated as a single series for all purposes under the Original Indenture and
this Sixth Supplemental Indenture, including, without limitation, waivers, amendments and offers to purchase.

 

Section
2.6.          [Reserved].

 

Section
2.7.         
Depositary for Global Notes. The Depositary for the Notes issued under this Sixth Supplemental Indenture shall be DTC
or any person succeeding thereto by merger, consolidation or acquisition of all or substantially all of its assets, including substantially
all of its securities payment and transfer operations.

 

Section
2.8.         
Place of Payment. The Place of Payment in respect of the Notes will be at the principal office or agency of the Company
in The City of New York, State of New York or at the office or agency of the Trustee which, at the date hereof, is located at 600
South Forth Street, 7th Floor, Minneapolis, MN 55415.

 

Section
2.9.         
Denominations. The Notes shall be issued in denominations of $2,000 and higher multiples of $1,000.

 

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Section
2.10.      Book-Entry
Provisions for the Global Notes. The Notes will be represented by Global Securities in fully registered
form without coupons that will be deposited with and registered in the name of DTC or its nominee (the “Global Notes”),
which, for the avoidance of doubt, shall mean, with respect to Notes issued as Global Securities, individually and collectively, the
Restricted Global Notes and the Unrestricted Global Notes, substantially in the form of Exhibit A hereto. Beneficial interests
in the Global Notes may be exchanged for Notes in definitive form to the extent provided under the Original Indenture.

 

Section
2.11.      Restrictions
on Liens. The covenant provided by Section 10.7 of the Original Indenture shall be applicable to the Notes.

 

Section
2.12.      Restrictions
on Sale and Leaseback Transactions. The covenant provided by Section 10.8 of the Original Indenture shall be applicable to the
Notes.

 

Article
Three

REDEMPTION

 

The Notes may be redeemed, in accordance with the
procedures set forth in the Original Indenture, and as further amended and specified below in this Article Three.

 

Notice of any redemption shall be mailed or electronically
delivered (or otherwise transmitted in accordance with the Applicable Procedures) at least 10 days but not more than 60 days before the
redemption date to each Holder of Notes to be redeemed. Any notice of redemption shall include a brief summary of the manner of calculation
of the redemption price but need not include the redemption price itself; provided however, that a supplemental notice will be mailed
or electronically delivered (or otherwise transmitted in accordance with the Applicable Procedures) at least two Business Days prior to
the redemption date including the redemption price.

 

Any such notice of redemption may, in the Company’s
discretion, be subject to one or more conditions precedent and, at the Company’s discretion, the redemption date may be delayed
until such time as any or all such conditions shall be satisfied (or waived by the Company in its sole discretion) or the redemption date
may not occur at all and such notice may be rescinded if all such conditions shall not have been satisfied (or waived by the Company in
its sole discretion).

 

Prior to the Par Call Date, the Notes may be redeemed
as a whole or in part, at any time and from time to time, at the option of the Company, at a redemption price (expressed as a percentage
of principal amount and rounded to three decimal places) equal to the greater of: (i) (a) the sum of the present values of the remaining
scheduled payments of principal and interest thereon discounted to the redemption date (assuming the Notes matured on the Par Call Date)
on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 25 basis points less (b)
interest accrued but unpaid to the date of redemption, and (ii) 100% of the principal amount of the Notes to be redeemed, plus, in either
case, accrued and unpaid interest thereon to the redemption date. The Trustee shall have no responsibility or obligation to calculate
the redemption price.

 

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On or after the Par Call Date, the Notes may be
redeemed in whole or in part, at any time and from time to time, at the Company’s option, at a redemption price equal to 100%
of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon to the redemption date.

 

In the case of a partial redemption, selection
of the Notes for redemption will be made pro rata, by lot or by such other method as the Trustee in its sole discretion deems appropriate
and fair. The Trustee may select for redemption Notes and portions of such Notes in amounts of $2,000 or any integral multiple of $1,000
in excess thereof. If any Note is to be redeemed in part only, the notice of redemption that relates to the Note will state the portion
of the principal amount of the Note to be redeemed. A new Note in a principal amount equal to the unredeemed portion of the Note will
be issued in the name of the Holder of the Note upon surrender for cancellation of the original note. For so long as the Notes are held
by DTC and its participants, including Euroclear and Clearstream, the redemption of the Notes shall be done in accordance with the Applicable
Procedures.

 

Unless the Company defaults in payment of the redemption
price, on and after the redemption date interest will cease to accrue on the Notes or portions thereof called for redemption.

 

Article
Four

AMENDMENTS TO THE ORIGINAL INDENTURE

 

Section
4.1.         
Amendments to the Original Indenture. Subject to Article Five hereof:

 

(i)           Section 1.1
of the Original Indenture is hereby amended with respect to the Notes by deleting the following definition in its entirety:

 

“Credit Agreements” means,
collectively, (i) the Revolving Credit Agreement, dated as of May 17, 2011, among the Company, as the borrower, various financial
institutions and other persons from time to time parties thereto, as the lenders, JPMorgan Chase Bank, N.A., as the administrative
agent, J.P. Morgan Securities LLC and Barclays Capital, as joint lead arrangers and joint bookrunners, and Barclays Capital, as
syndication agent, (ii) the Term Loan Credit Agreement, dated as of August 23, 2012, among the Company, as the borrower, the various
financial institutions and other persons from time to time party thereto, as the lenders, JPMorgan Chase Bank, N.A., as the
administration agent, J.P. Morgan Securities LLC, Barclays Bank PLC, Deutsche Bank Securities, Inc. and Wells Fargo Securities, LLC,
as joint lead arrangers and joint bookrunners, Barclays Bank PLC and Deutsche Bank Securities, Inc., as co-syndication agents and
Wells Fargo Bank, National Association, as documentation agent and (iii) the Term Loan Credit Agreement, dated as of February 15,
2013, among the Company, as the borrower, the various financial institutions and other persons from time to time party thereto, as
the lenders, Wells Fargo Bank, National Association, as the administrative agent, Deutsche Bank Securities, Inc. and Morgan Stanley
Senior Funding, Inc., as co-syndication agents, Bank of American, N.A. as documentation agent, and Wells Fargo Securities, LLC,
Deutsche Bank Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley Senior Funding, Inc., as
joint lead arrangers and joint bookrunners, in the case of each of (i) through (iii), as the same may be further amended,
supplemented, refinanced, refunded, replaced or otherwise modified and in effect from time to time including any successor or
replacement agreement whether by the same or any other agent, lender or group of lenders.

 

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(ii)             
Section 1.1 of the Original Indenture is hereby amended with respect to the Notes by amending and restating the following
definition in its entirety to read as follows:

 

“First Mortgage Indentures”
means, collectively, (i) the First Mortgage and Deed of Trust, dated as of July 15, 2003, between International Transmission Company and
BNY Midwest Trust Company (succeeded by The Bank of New York Mellon Trust Company, N.A.), as trustee, (ii) the First Mortgage Indenture,
dated as of December 10, 2003, between Michigan Electric Transmission Company, LLC and JPMorgan Chase Bank (succeeded by The Bank of New
York Mellon Trust Company, N.A.), as trustee, (iii) the First Mortgage and Deed of Trust, dated as of January 14, 2008, between ITC Midwest
LLC and The Bank of New York Trust Company, N.A. (succeeded by The Bank of New York Mellon Trust Company, N.A.), as trustee, (iv) the
First Mortgage and Deed of Trust, dated November 12, 2014, between ITC Great Plains, LLC and Wells Fargo Bank, National Association, as
trustee, and (v) any mortgage bond indenture or other document similar to (i) through (iv) above that secures indebtedness of any Subsidiary
by creating Liens on the assets of such Subsidiary similar to those created by (i) through (iv) above, and in the case of each of (i)
through (v) above, as the same may be amended, supplemented or otherwise modified and in effect from time to time.

 

(iii)           
Sections 7.4(a)and (b) of the Original Indenture are each hereby amended and restated in its entirety with respect to the
Notes to read as follows:

 

“(a) Whether or not required by the
Commission, so long as any Securities are outstanding, the Company shall file with the Trustee and deliver to the Holders of Securities:

 

(i) all quarterly and annual financial information
that would be required to be contained in a filing with the Commission on Forms 10-Q and 10-K if the Company were required to file such
Forms (including a “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and, with
respect to the annual information only, a report on the annual financial statements by the Company’s certified independent auditors),
each within 15 days after the time periods specified in the Commission’s rules and regulations that would have been applicable if
the Company were subject to the periodic reporting requirements under Section 13 or Section 15(d) of the Exchange Act;

 

(ii) all current reports that would have
been required to be filed with the Commission on Form 8-K if the Company were required to file such reports, within five days after the
time periods specified in the Commission’s rules and regulations that would have been applicable if the Company were subject to
the periodic reporting requirements under Section 13 or Section 15(d) of the Exchange Act; and

 

    22

     

    

 

(iii) such additional information, documents
and reports with respect to compliance by the Company with the conditions and covenants provided for in this Indenture, which the Company
would have been required to file with the Commission if the Company were subject to Section 13 or 15(d) of the Exchange Act, within five
days after the time periods specified in the Commission’s rules and regulations that would have been applicable if the Company were
subject to the periodic reporting requirements under Section 13 or Section 15(d) of the Exchange Act,

 

provided, that any such information, documents
or reports filed electronically with the Commission for public availability shall be deemed filed with, and delivered to, the Trustee
and the Holders of the Securities. All such reports shall be prepared in all material respects in accordance with all of the rules and
regulations of the Commission applicable to such reports. The Company shall notify the Trustee if the Company fails to so file any such
information, documents or reports with the Commission or if the Commission does not permit such filings, in which event the Company shall
not be so obligated to file such reports with the Commission, and shall instead make such information available to the Trustee and Holders
of Securities by posting the same, within the time periods required above, on a publicly available website, including the Company’s
website, or on a non-public website to which Holders of Securities, prospective investors and securities analysts are given access (whether
a commercial, third-party website or whether sponsored by the Company).

 

(b) So long as the Securities remain outstanding,
the Company shall furnish to the Holders and to prospective investors, upon request, the information required to be delivered pursuant
to Rule 144A(d)(4) under the Securities Act.”

 

(iv)            
Sections 10.7(b) of the Original Indenture is hereby amended and restated in its entirety with respect to the Notes to read as
follows:

 

“[Reserved];”

 

(v)              
The last paragraph in Section 10.7 of the Original Indenture is hereby amended and restated in its entirety with respect to the
Notes to read as follows:

 

“Notwithstanding
the foregoing, the Company and its Subsidiaries, or any of them, may incur, issue, assume, guarantee or permit to exist indebtedness
secured by Liens without equally and ratably securing the Securities of each series then Outstanding, provided, that at the time of
such incurrence, issuance, assumption or guarantee of indebtedness, after giving effect thereto and to the retirement of any
indebtedness of the Company or of any Subsidiary which is concurrently being retired, the sum of (i) the aggregate amount of
all outstanding indebtedness of the Company and all the Subsidiaries secured by Liens which could not have been incurred, issued,
assumed or guaranteed by the Company or a Subsidiary without equally or ratably securing the Securities of each series then
Outstanding, except for the provisions of this paragraph, plus (ii) the Attributable Value of Sale and Leaseback Transactions
entered into pursuant to the penultimate paragraph of Section 10.8, does not at such time exceed the greater of 15% of
Net Tangible Assets or 10% of the Consolidated Capitalization of the Company.”

 

    23

     

    

 

(vi)            
The penultimate paragraph in Section 10.8 of the Original Indenture is hereby amended and restated in its entirety with respect
to the Notes to read as follows:

 

“Notwithstanding the foregoing, the Company
and its Subsidiaries, or any of them, may enter into a Sale and Leaseback Transaction which would otherwise be prohibited by this Section 10.8,
provided, that at the time of such transaction, after giving effect thereto, the sum of (i) the aggregate amount of the Attributable
Value in respect of all Sale and Leaseback Transactions existing at such time which could not have been entered into except for the provisions
of this paragraph plus (ii) the aggregate amount of outstanding indebtedness secured by Liens in reliance on the last paragraph of
Section 10.7 does not at such time exceed the greater of 15% of Net Tangible Assets or 10% of the Consolidated Capitalization of
the Company.”

 

(vii)         
Section 11.4 of the Original Indenture is hereby amended with respect to the Notes by amending and restating the first sentence
in its entirety to read as follows:

 

“Notice of redemption shall be given by first-class
mail, postage prepaid, mailed not less than 10 nor more than 60 days prior to the Redemption Date, to each Holder of Securities to be
redeemed, at the Holder’s address appearing in the Security Register.”

 

Article
Five

MISCELLANEOUS

 

Section
5.1.         
Execution as Supplemental Indenture. This Sixth Supplemental Indenture is executed and shall be construed as an indenture
supplemental to the Original Indenture and, as provided in the Original Indenture, this Sixth Supplemental Indenture forms a part thereof.

 

Section
5.2.         
[Reserved].

 

Section
5.3.         
Effect of Headings. The Article and Section headings herein are for convenience only and shall not affect the construction
hereof.

 

Section
5.4.         
Successors and Assigns. All covenants and agreements by the Company and the Trustee in this Sixth Supplemental Indenture
shall bind its successors and assigns, whether so expressed or not.

 

Section
5.5.         
Separability Clause. In case any provision in this Sixth Supplemental Indenture or in the Notes shall be invalid, illegal
or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired
thereby.

 

Section
5.6.         
Benefits of Sixth Supplemental Indenture. Nothing in this Sixth Supplemental Indenture or in the Notes, express or
implied, shall give to any Person, other than the parties hereto and their successors hereunder and the Holders, any benefit or any legal
or equitable right, remedy or claim under this Sixth Supplemental Indenture.

 

    24

     

    

 

Section
5.7.         
Execution and Counterparts. This Sixth Supplemental Indenture
may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together
constitute but one and the same instrument. The exchange of copies of this Sixth Supplemental Indenture and of signature pages by facsimile
or portable document format (PDF) transmission shall constitute effective execution and delivery of this Indenture as to the parties
hereto and may be used in lieu of the Original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile
or PDF shall be deemed to be their original signatures for all purposes. The words “execution,” “signed,” “signature,”
 “delivery,” and words of like import in or relating to this Sixth Supplemental Indenture or any document to be signed in
connection with this Sixth Supplemental Indenture shall be deemed to include electronic signatures, deliveries or the keeping of records
in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical
delivery thereof or the use of a paper-based recordkeeping system, as the case may be, and the parties hereto consent to conduct the
transactions contemplated hereunder by electronic means.

 

Section
5.8.         
Governing Law. This Sixth Supplemental Indenture and the Notes shall be governed by and construed in accordance with
the laws of the State of New York.

 

Section
5.9.         
Ratification of Original Indenture. The Original Indenture, as supplemented by this Sixth Supplemental Indenture, is
in all respects ratified and confirmed, and this Sixth Supplemental Indenture shall be deemed part of the Original Indenture in the manner
and to the extent herein provided. For the avoidance of doubt, each of the Company and each Holder of the Notes, by its acceptance of
such Notes, acknowledges and agrees that all of the rights, privileges, protections, immunities and benefits afforded to the Trustee
under the Original Indenture, including without limitation the right to indemnification, are deemed to be incorporated herein, and shall
be enforceable by the Trustee hereunder, in each of its capacities hereunder as if set forth herein in full.

 

Section
5.10.      Trustee’s
Disclaimer. The Trustee shall not be responsible in any manner whatsoever for or with respect to any of the recitals or statements
contained herein, all of which recitals or statements are made solely by the Company, or for or with respect to (i) the validity
or sufficiency of this Sixth Supplemental Indenture or any of the terms or provisions hereof, (ii) the proper authorization hereof
by the Company by action or otherwise, (iii) the due execution hereof by the Company or (iv) the consequences of any amendment
herein provided for, and the Trustee makes no representation with respect to any such matters.

 

    25

     

    

 

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

 

	 	ITC HOLDINGS CORP.
	 	 
	 	By	/s/ Gretchen Holloway
	 	 	Name: Gretchen L. Holloway
	 	 	Title: Senior Vice President and Chief Financial Officer

 

[ITC Holdings Corp. —
Signature Page to Sixth Supplemental Indenture]

 

    

     

    

 

	 	COMPUTERSHARE TRUST COMPANY, N.A., as
    Trustee
	 	 
	 	By	/s/ Niki Austin
	 	 	Name: Niki Austin
	 	 	Title: Assistant Vice President

 

[ITC Holdings Corp. —
Signature Page to Sixth Supplemental Indenture]

 

    

     

    

 

EXHIBIT A

 

[FORM OF
FACE OF 4.950% SENIOR NOTES DUE 2027]

 

[Applicable legends to be included]

 

    A-1

     

    

 

ITC HOLDINGS CORP.

4.950% SENIOR NOTES DUE 2027

 

	September 22, 2022	$___________1

 

	No. ________	CUSIP:  [  ]2

ISIN:  [  ]3

 

ITC HOLDINGS CORP., a corporation duly organized
and existing under the laws of The State of Michigan (herein called the “Company,” which term includes any successor
under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co. or registered assigns, the
principal sum of $________1 on September 22, 2027, and to pay interest thereon from September 22, 2022, or from the most recent
Interest Payment Date to which interest has been paid or duly provided for. Interest will be payable semi-annually in arrears on March
22 and September 22 in each year, commencing March 22, 2023. Interest will be payable at the rate per annum provided in the title hereof,
until the principal hereof is paid or made available for payment, and, subject to the terms of the Indenture, at the rate per annum provided
in the title hereof on any overdue principal and premium and (to the extent that the payment of such interest shall be legally enforceable)
on any overdue installment of interest 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 Regular Record Date for such interest, which shall be March 7 or September 7 (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 Regular Record Date and may either be paid to the Person in whose name 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. Interest will be computed on the basis of a 360-day year of twelve 30-day months.

 

Payment of the principal of (and premium, if
any) and interest on the Securities of this series will be made at the office or agency of the Company maintained for that purpose
in the City of New York, State of New York or at the office or agency of the Trustee, in such coin or currency of the United States
of America as at the time of payment is legal tender for the payment of public and private debts. Holders must surrender Securities
to a Paying Agent to collect principal payments.

 

 

	1	For Global Securities, insert: “(as revised by the Schedule
of Increases and Decreases attached hereto).”

	2	Initial 144A Global Note CUSIP: 465685 AR6

	 	Initial Reg S Global Note CUSIP: U4501W AJ1

	3	Initial 144A Global Note ISIN: US465685AR63

	 	Initial Reg S Global Note ISIN: USU4501WAJ19

 

    A-2

     

    

 

Reference is hereby made to the further provisions
of the Securities of this series 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, this Security shall not be entitled to any benefits under
the Indenture, or be valid or obligatory for any purpose.

 

    A-3

     

    

 

IN WITNESS WHEREOF, ITC HOLDINGS CORP. has caused
this Security to be duly executed on the date first written above.

 

	 	ITC HOLDINGS CORP.
	 	 
	 	By	 
	 	 	Name:
	 	 	Title:

 

    A-4

     

    

 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

 

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

 

Date: __________, ____

 

	 	COMPUTERSHARE TRUST COMPANY, N.A.,
    as Trustee
	 	 
	 	By	 
	 	 	Authorized Signatory

 

    A-5

     

    

 

[FORM OF
REVERSE OF NOTE]

 

This Security is one of the duly authorized issue
of debentures, notes, bonds or other evidences of indebtedness of the Company (hereinafter called the “Securities”),
of the series hereinafter specified, all issued or to be issued under and pursuant to the Original Indenture dated as of April 18,
2013, as supplemented by the Sixth Supplemental Indenture, dated as of September 22, 2022 (as so supplemented, the “Indenture”),
duly executed and delivered by the Company and Computershare Trust Company, N.A., as Trustee (herein called the “Trustee,”
which term includes any successor trustee under the Indenture), to which Indenture and any other indentures supplemental thereto reference
is hereby made for a statement of the respective rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee
and any agent of the Trustee, any Paying Agent, the Company and the Holders of the Securities of this series and of the terms upon which
the Securities of this series are issued and are to be authenticated and delivered. This Security is one of the series designated on the
face hereof, which series is initially limited in aggregate principal amount to $600,000,000, provided that the Company may from time
to time or at any time, without the consent of the Holders of Securities of this series, issue additional Securities of this series having
the same terms and conditions and the same CUSIP number as the Securities of this series in all respects, except for issue date, issue
price and, if applicable, the first payment of interest thereon, which Securities shall increase the aggregate principal amount of, and
shall be consolidated and form a single series with, the previous outstanding Securities of this series. By the terms of the Indenture,
additional Securities of other separate series, which may vary as to date, amount, Stated Maturity, interest rate or method of calculating
the interest rate and in other respects as therein provided, may be issued in an unlimited amount.

 

Prior to the Par Call Date, the Securities of this
series are subject to redemption upon not less than 10 nor more than 60 days’ notice given as provided in the Indenture,
as a whole at any time or in part from time to time, at the option of the Company, at a redemption price (expressed as a percentage of
principal amount and rounded to three decimal places) equal to the greater of: (i) (a) the sum of the present values of the remaining
scheduled payments of principal and interest thereon discounted to the redemption date (assuming the Securities of this series matured
on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 25
basis points less (b) interest accrued to the date of redemption, and (ii) 100% of the principal amount of the Securities of this series
to be redeemed, plus, in either case, accrued and unpaid interest thereon to the redemption date.

 

On or after the Par Call Date, the Securities of
this series may be redeemed in whole at any time or in part from time to time, at the Company’s option, in each case, at a redemption
price equal to 100% of the principal amount of the Securities of this series to be redeemed, plus accrued and unpaid interest thereon
to the redemption date.

 

In the event of a redemption of this Global Security
in part only, a new Global Security of this series for the unredeemed portion hereof will be issued in the name of the Holder hereof upon
the cancellation hereof.

 

    A-6

     

    

 

In the case of a partial redemption, selection
of the Securities of this series for redemption will be made pro rata, by lot or by such other method as the Trustee in its sole discretion
deems appropriate and fair.

 

Any redemption notice may, at the Company’s
discretion, be subject to one or more conditions precedent and, at the Company’s discretion, the redemption date may be delayed
until such time as any or all such conditions shall be satisfied (or waived by the Company in its sole discretion) or the redemption date
may not occur at all and such notice may be rescinded if all such conditions shall not have been satisfied (or waived by the Company in
its sole discretion).

 

Unless the Company defaults in payment of the redemption
price, on and after the redemption date interest will cease to accrue on the Securities of this series or portions thereof called for
redemption.

 

The Securities of this series are subject to further
redemption provisions and procedures set forth in the Indenture.

 

The Indenture contains provisions for defeasance
of (a) the entire indebtedness of the Securities of this series and (b) certain restrictive covenants upon compliance by the
Company with certain conditions set forth therein.

 

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 to be affected under the Indenture at any time by the Company and the Trustee with the consent of the
Holders of a majority in aggregate principal amount of the Securities at the time Outstanding of all series to be affected (voting together
as a class). The Indenture also contains provisions permitting the Holders of specified percentages 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 the Securities of this series shall be conclusive and binding upon such Holder and upon all future Holders of the Securities
of this series and of any Securities of this series 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 the Securities of this series.

 

No reference herein to the Indenture and no provision
of the Securities of this series 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) and interest on the Securities of this series at the times, place and rate, and in the coin
or currency, herein prescribed.

 

As provided in the Indenture and subject to
certain limitations therein set forth, the transfer of the Securities of this series is registrable in the Security Register, upon
surrender of the Securities of this series for registration of transfer at the office or agency of the Company in any place where
the principal of (and premium, if any) and interest on the Securities of this series are payable, duly endorsed by, or accompanied
by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder
hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series and of like tenor, of
authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or
transferees.

 

    A-7

     

    

 

The Securities of this series are issuable only
in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 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 and of like tenor 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 the Securities of this
series for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose
name the Securities of this series are registered as the owner hereof for all purposes, whether or not the Securities of this series be
overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

 

The Securities of this series are not subject to
any sinking fund.

 

Each Holder, by accepting a Security, agrees to
be bound by all the terms and provisions of the Indenture, as the same may be amended from time to time in accordance with its terms.

 

The Securities of this series shall be governed
by and construed in accordance with the laws of the State of New York.

 

All terms used in this Security which are defined
in the Indenture shall have the meanings assigned to them in the Indenture.

 

    A-8

     

    

 

[TO BE ATTACHED
TO GLOBAL SECURITIES]

 

SCHEDULE OF INCREASES
OR DECREASES IN GLOBAL SECURITY 

 

The following
increases or decreases in this Global Security have been made:

 

	
    Date of increase
    

or decrease
	 	
    Amount of

    decrease in 

principal 

amount of this

 Global Security
	 	
    Amount of
    

increase in 

principal

 amount of this 

Global Security
	 	
    Principal
    

amount of this 

Global Security

 following such

 decrease or 

increase
	 	
    Signature
    of 

authorized

 officer of 

Trustee

	 	 	 	 	 	 	 	 	 

 

    A-9

     

    

 

EXHIBIT B

 

FORM OF CERTIFICATE OF TRANSFER 

 

ITC
Holdings Corp.

 

Computershare Trust Company, N.A.,

Attn: DAPS Reorg

600 South 4th Street, 7th Street

Minneapolis, MN 55415

Phone: (800) 344-5128

Facsimile: (866) 969-1290

Email: dapsreorg@wellsfargo.com

 

4.950% Senior Notes due 2027 (“Notes”)

 

Reference is hereby made to the Indenture dated as of April 18, 2013 (the “Original Indenture”), as supplemented
by the Sixth Supplemental Indenture dated as of September 22, 2022 (the “Sixth Supplemental Indenture” and, together
with the Original Indenture, the “Indenture”), among ITC Holdings Corp. and Computershare Trust Company, N.A., as
successor to Wells Fargo Bank, National Association, as trustee, relating to the Notes issued by the Company. Capitalized terms used
but not defined herein shall have the meanings given to them in the Indenture or the Sixth Supplemental Indenture.

 

[________] (the “Transferor”) owns and proposes
to transfer the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of $[________] in such Note[s]
or interests (the “Transfer”), to [________] (the “Transferee”), as further specified in Annex A
hereto. In connection with the Transfer, the Transferor hereby certifies that:

 

[CHECK ALL THAT APPLY]

 

 ̈ 1. Check if Transferee
will take delivery of a beneficial interest in the 144A Global Note or a Certificated Security. The Transfer is being effected pursuant
to and in accordance with Rule 144A under the United States Securities Act of 1933, as amended (the “Securities Act”),
and, accordingly, the Transferor hereby further certifies that the beneficial interest or Certificated Security is being transferred to
a Person that the Transferor reasonably believed and believes is purchasing the beneficial interest or Certificated Security for its own
account, or for one or more accounts with respect to which such Person each such account is a “qualified institutional buyer”
within the meaning of Rule 144A in a transaction meeting the requirements of Rule 144A and such Transfer is in compliance with any applicable
securities laws of any state of the United States. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture,
the transferred beneficial interest or Certificated Security will be subject to the restrictions on transfer enumerated in the Private
Placement Legend.

 

    B-1

     

    

 

 ̈ 2. Check if
Transferee will take delivery of a beneficial interest in a Regulation S Global Note or a Certificated Security pursuant to
Regulation S. The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act
and, accordingly, the Transferor hereby further certifies that (i) the Transfer is not being made to a person in the United States
and (x) at the time the buy order was originated, the Transferee was outside the United States or such Transferor and any Person
acting on its behalf reasonably believed and believes that the Transferee was outside the United States or (y) the transaction was
executed in, on or through the facilities of a designated offshore securities market and neither such Transferor nor any Person
acting on its behalf knows that the transaction was prearranged with a buyer in the United States, (ii) no directed selling efforts
have been made in contravention of the requirements of Rule 903(b) or Rule 904(b) of Regulation S under the Securities Act, (iii)
the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act and (iv) the transfer
is not being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser, as such term is
defined in the Purchase Agreement). Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Certificated Security will be subject to the restrictions on transfer enumerated in the Private
Placement Legend and, if applicable, the Regulation S Temporary Global Note Legend.

 

 ̈ 3. Check if Transferee
will take delivery of a beneficial interest in an Unrestricted Global Note or of an Unrestricted Certificated Security pursuant to Rule
144. (i) The Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with
the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States and
(ii) the restrictions on transfer contained in the Indenture, the Private Placement Legend and the Regulation S Temporary Global
Note Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance
with the terms of the Indenture, the transferred beneficial interest or Certificated Security will no longer be subject to the restrictions
on transfer enumerated in the Private Placement Legend or the Regulation S Temporary Global Note Legend.

 

 ̈ 4. Check if Transferee
is the Company or a Subsidiary of the Company. The Transferee is the Company or a Subsidiary of the Company.

 

 ̈ 5. Check if Transfer
is Pursuant to an Effective Registration Statement. The transfer is being effected pursuant to an effective registration statement
under the Securities Act (file no. [________]). Upon consummation of the proposed Transfer in accordance with the terms of the Indenture,
the transferred beneficial interest or Certificated Security will no longer be subject to the restrictions on transfer enumerated in the
Private Placement Legend or the Regulation S Temporary Global Note Legend.

 

    B-2

     

    

 

This certificate and the statements contained herein are made for your
benefit and the benefit of the Company.

 

	 	Dated:	 
	 	 	 
	 	 	 
	 	 	[Insert Name of Transferor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	Tax ID:	

 

 

    B-3

     

    

 

ANNEX A TO CERTIFICATE OF TRANSFER 

 

1. The Transferor owns and proposes to transfer the following: 

 

[CHECK ONE]

	 	 	 	 	 	 
	 	 ̈	 	(A) 	 	a beneficial interest in the:
	 	 	 	 	 	 
	 	 	 	(i) 	 	144A Global Note (CUSIP [________]); or
	 	 	 	 	 	 
	 	 	 	(ii) 	 	Regulation S Global Note (CUSIP [________]); or
	 	 	 	 	 	 
	 	 ̈	 	(B) 	 	a Restricted Certificated Security.

 

2. After the Transfer the Transferee will hold: 

[CHECK ONE]

	 	 	 	 	 	 
	 	 ̈	 	(A) 	 	a beneficial interest in the:
	 	 	 	 	 	 
	 	 	 	(i) 	 	144A Global Note (CUSIP [________]); or
	 	 	 	 	 	 
	 	 	 	(ii) 	 	Regulation S Global Note (CUSIP [________]); or
	 	 	 	 	 	 
	 	 	 	(iii) 	 	Unrestricted Global Note (CUSIP [________]).
	 	 	 	 	 	 
	 	 ̈	 	(B) 	 	a Restricted Certificated Security; or
	 	 	 	 	 	 
	 	 ̈	 	(C) 	 	an Unrestricted Certificated Security.

 

in accordance with the terms of the Indenture. 

 

    B-4Exhibit
10.1

LICENSE
AGREEMENT

 

THIS
LICENSE AGREEMENT (this “Agreement”) is made and entered into as of September 16, 2022 (the “Effective Date”),
by and between ReJoy (“ReJoy”), a California corporation and Jupiter Wellness, Inc., a Delaware corporation (“Jupiter”).

 

WHEREAS,
ReJoy has developed certain proprietary technology and related intellectual property for the treatment of female nipple neuropathy and
sexual dysfunction.

 

WHEREAS,
ReJoy and Jupiter desire to enter into a license agreement whereby Jupiter has the right to be the exclusive licensee to develop, manufacture
and sell prescription drugs (“Products”) exploiting such ReJoy technology worldwide.

 

NOW,
THEREFORE, ReJoy and Jupiter hereby agree as follows:

 

ARTICLE
I

DEFINITIONS

 

The
defined terms set forth herein shall have the meanings as indicated below, except where the context otherwise requires, and shall be
equally applicable in the singular or the plural form.

 

1.1
“Agreement Payments” shall mean as defined in Section 4.4.

 

1.2
“Audit” shall mean as defined Section 4.5.

 

1.3
“Business Day” shall mean days between and including Monday to Friday, and shall not include public holidays in USA
or weekends (Saturday and Sunday).

 

1.4
“Inventions” shall mean discoveries, improvements, processes, formulas, data, inventions, know-how and trade secrets,
patentable or otherwise, developed or invented in connection with the Products, including all intellectual property rights therein.

 

1.5
“Infringement” shall mean as defined Section 7.5.

 

1.6
“Know-How” shall mean any and all proprietary or confidential information and materials (including samples of products,
and active pharmaceutical ingredients and drug substances), now existing or hereafter arising, which are necessary or useful in connection
with, the research, development, marketing, manufacture and having manufactured, advertising, promotion, distribution, import, or sale
of the Products, whether patentable or not, including: (i) trade secrets and know-how; (ii) specifications, discoveries, inventions methods,
procedures, formulas, processes, tests, assays, techniques; (iii) test data, including pharmacological, toxicological, clinical and non-clinical
test data; (iv) safety and quality control data and information; and (v) technical and non-technical data and other information related
to the foregoing.

 

1.7
“Liabilities” shall mean as defined in Section 9.1.

 

1.8
“Net Sales” shall mean total gross revenues invoiced by Jupiter for sales of the Products less shipping and sales
taxes not ultimately recovered by Jupiter.

 

1.9
“Net Proceeds” shall mean gross proceeds generated from sale of ReJoy IP less all transactions costs and expenses,
all ReJoy development costs for the ReJoy IP, and all direct costs incurred by Jupiter in the development of the Products.

 

    	ReJoy CONFIDENTIAL
	 

     

    

 

1.10
“Patents” shall mean ReJoy patents US10064816 and US10357452, including any continuations, continuations-in-part,
or divisional applications, reissues, renewals, reexaminations, extensions, corrections, or modifications related thereto.

 

1.11
“Products” shall mean prescription drug products developed by Jupiter exploiting the Rejoy IP and regulated by US
FDA and approved under US FDA 505(b)(2) (i.e., accelerated pathway for approval).

 

1.12
“ReJoy IP” shall mean the inventions, proprietary technology, copyrights, Patents, Know-How, trade-secrets and any
other intellectual property (excluding trademarks) of ReJoy solely with respect to the Products.

 

1.13
“Territory” shall mean worldwide.

 

ARTICLE
II

TERM

 

2.1
The term of this Agreement shall commence on the Effective Date and shall continue until terminated according to the terms herein (the
“Term”).

 

ARTICLE
III

LICENSE;
OBLIGATIONS

 

3.1
Subject to all the terms and conditions of this Agreement, ReJoy hereby grants to Jupiter an exclusive, non-transferable, non-sublicensable
(except with ReJoy written consent) license to use the ReJoy IP to (i) have the Products approved for use by the US FDA, and (ii) upon
US FDA approval of the Products, to develop, market, manufacture and have manufactured, sell, advertise, promote and distribute the Products
in the Territory.

 

3.2
Jupiter acknowledges that ReJoy retains rights to ReJoy IP for all purposes (manufacture, sale, etc.) for any products other than the
Products.

 

3.3
ReJoy shall have the sole responsibility for, and pay all costs for, maintaining, defending and prosecuting any ReJoy IP in its discretion.

 

3.4
Jupiter represents and warrants that it will use its commercially reasonable efforts in marketing and selling the Products.

 

3.5
Within sixty (60) days of the execution of this Agreement, ReJoy shall provide Jupiter with the ReJoy IP. ReJoy IP shall be provided
on an “as is” basis and ReJoy shall bear the costs of such transfer. ReJoy shall remain at all times the sole owner of the
ReJoy IP, and Jupiter may not disclose it to any third party nor use for any reason other than for the purposes of this Agreement, without
ReJoy’s prior written consent.

 

3.6
Within twelve (12) months of the Effective Date, Jupiter shall hold a Pre-IND meeting with US FDA for the Products under 505(b)(2).

 

3.7
Within twenty-four (24) months of the Pre-IND meeting, Jupiter shall have initiated a US FDA approved Phase 1 trial for the Products.

 

    	 

     

    

 

3.8
Within twelve (12) months of completion of Phase 1 trials, Jupiter shall have initiated a US FDA approved Phase 2 clinical trial for
the Products (s).

 

ARTICLE
IV

ROYALTY;
AUDIT; ASSET SALE

 

4.1
In consideration for the license grant herein, Jupiter shall pay ReJoy five percent (5%) royalty of Net Sales paid within thirty (30)
days after the end of each calendar quarter.

 

4.2
From and after the Effective Date, within thirty (30) days following the end of each calendar quarter, Jupiter shall furnish to ReJoy
a written report for the Products sold by Jupiter during such quarter, showing the following: (i) gross sales of each Drug; and (ii)
Net Sales of each Drug, including a reconciliation of the gross sales to Net Sales calculation for each element of the Net Sales calculation.
ReJoy shall furnish invoice within five (5) days from the receipt of report.

 

4.3
All payments to be made by Jupiter to ReJoy under this Agreement shall be paid by bank wire transfer in immediately available funds to
such bank account as is designated by ReJoy as may be changed from time to time upon at least sixty (60) days’ prior written notice.
All payments shall be made in US dollars. If, due to restrictions or prohibitions imposed by national or international authority, payments
cannot be made as aforesaid, the parties shall consult with a view to finding a prompt and acceptable solution, and Jupiter shall make
such payments in any manner as ReJoy may reasonably and lawfully direct.

 

4.4
The amount of royalty payment in Section 4.1 shall not include any taxes. Except as otherwise expressly provided in this Agreement, each
party is responsible for its own taxes based on its own income, gross receipts, capital, right or ability to do business in a jurisdiction,
property, payroll or otherwise; ReJoy shall be responsible for paying any and all taxes levied by the regulatory authorities of the jurisdiction(s)
where ReJoy is incorporated or conducts business, on account of, or measured in whole or in part by reference to any amounts payable
by Jupiter to ReJoy pursuant to this Agreement (the “Agreement Payments”). If applicable laws require the withholding
of taxes, Jupiter shall make such withholding payments in a timely manner and shall make the Agreement Payments with deduction of such
withholding payments. For the avoidance of doubt, the Agreement Payments shall be made after deduction or withholding of taxes that is
required by the applicable laws from the amounts.

 

4.5
Jupiter shall maintain all records necessary to calculate the royalty stipulated in Section 4.1 during the Term of this Agreement and
for a period of three (3) years thereafter. Upon ReJoy’s request, Jupiter shall permit an accounting firm designated by ReJoy reasonably
acceptable to Jupiter to audit such records, for the purpose of determining compliance with the royalty payment in Section 4.1 (the “Audit”).
The Audit shall be conducted at ReJoy’s sole cost and expense and not more than once per calendar year. ReJoy shall provide reasonable
advance notice of an Audit at least prior to thirty (30) days of such Audit. ReJoy shall and shall cause said accounting firm to treat
such records as the Proprietary Information of Jupiter. Further, both parties acknowledge that the accounting firm shall disclose to
ReJoy in the written report only whether the Net Sales Reports are correct or incorrect and the amount of any underpayment. In the event
the Audit discloses that Jupiter underpaid ReJoy, Jupiter shall immediately correct any underpaid amounts, and in the event the Audit
discloses that Jupiter underpaid ReJoy in excess of five percent (5%), Jupiter shall additionally reimburse ReJoy for its reasonable
costs and expenses associated with such Audit.

 

    	 

     

    

 

4.6
If during the Term, if ReJoy receives a bona fide offer to purchase the ReJoy IP, Jupiter shall have a 15 day Right of First Refusal
(“ROFR”) to purchase the ReJoy IP on the same terms as such offer. If Jupiter does not agree to exercise its ROFR, and ReJoy
sells the Rejoy IP (or sells the Rejoy IP as part of a larger asset portfolio), (i) this Agreement shall automatically terminate, and
(ii) ReJoy shall pay Jupiter fifty percent (50%) of that portion of the Net Proceeds from such transaction attributed to the value of
the ReJoy IP for the Products, as determined in ReJoy’s reasonable discretion. Notwithstanding the foregoing, if ReJoy sells the
ReJoy IP for the Products, but is licensed such ReJoy IP back from purchaser with a right to sublicense, then this Agreement shall not
terminate but shall continue, and ReJoy shall remain licensor herein, and all references to ReJoy owning the ReJoy IP herein shall be
construed as ReJoy having the rights to license the ReJoy IP, and no payments shall be due to Jupiter under this Section 4.6.

 

ARTICLE
V

COMPLIANCE

 

5.1
Authorization. Each party hereby represents and warrants to the other that: (a) it has the requisite power and authority to execute,
deliver and perform this Agreement and to consummate the transactions contemplated hereby; (b) this Agreement has been duly authorized,
executed and delivered by such party, constitutes legal, valid and binding obligation of such party and is enforceable against such party
in accordance with its terms; and (c) the execution of this Agreement by such party, and the performance by such party of its obligations
and duties hereunder, do not and will not violate any agreement to which such party is a party or by which it is otherwise bound.

 

5.2
Compliance with Applicable Laws. Jupiter shall comply with all laws and regulations applicable to Jupiter in marketing, selling
and manufacturing the Products. Without limiting the generality of the foregoing, Jupiter shall, at its own expense, make, obtain, and
maintain in force at all times during the term of this Agreement, all required filings, registrations, licenses, permits and authorizations
to exercise its license rights hereunder.

 

5.3
Status as Independent Contractor. The relationship established between ReJoy and Jupiter by this Agreement is that of a licensor
to its licensee and nothing herein contained shall be deemed to establish or otherwise create a relationship of principal and agent between
ReJoy and Jupiter. Jupiter represents that it is an independent contractor who will not be deemed an agent of ReJoy for any purpose whatsoever
and neither the Jupiter nor any of its agents or employees will have any right or authority to assume or create any obligation of any
kind, whether express or implied, on behalf of ReJoy.

 

5.4
Taxes. Jupiter shall bear the cost of any taxes, levies, duties and fees of any kind, nature or description whatsoever applicable
to selling or importing the Products.

 

    	 

     

    

 

ARTICLE
VI

ASSIGNMENT
AND COMPETITION

 

6.1
Assignment. Jupiter may not, without prior written consent of ReJoy, assign or sublicense this Agreement to any third party. In
the event of any permitted sublicense or assignment of the Agreement in accordance with the terms hereof, Jupiter or ReJoy shall ensure
that any assignee agrees to and complies with the terms and conditions of this Agreement.

 

ARTICLE
VII

INTELLECTUAL
PROPERTY RIGHTS

 

7.1
Retention of Intellectual Property Rights. Jupiter acknowledges that ReJoy is the owner of all ReJoy IP. ReJoy shall retain all
right, title and interest in and to ReJoy IP.

 

7.2
Use of ReJoy IP. During the Term and in accordance with the terms of this Agreement, Jupiter shall have the right to use the ReJoy
IP solely in connection with Jupiter’s developing, marketing, manufacture, selling, advertising, promotion and distribution of
the Products. Jupiter hereby covenants and agrees that its use of ReJoy IP will not dilute ReJoy IP.

 

7.3
New Technology. The entire right, title and interest in any new technology (and related intellectual property) developed by Jupiter,
or jointly by Jupiter and ReJoy, in connection with the Products or the ReJoy IP, shall be owned by ReJoy and shall be considered ReJoy
IP for purposes of this Agreement. Jupiter shall promptly (but no less often than quarterly) disclose to ReJoy any such new technology
made, created, discovered or conceived by its employees and/or third party contractors during the Term.

 

7.4
Prosecution of Patents.

 

(a)
Responsibility and Control. ReJoy shall be responsible for the filing, prosecution and maintenance of the ReJoy IP at ReJoy’s expense.
ReJoy shall have sole control over such filings, prosecution and maintenance.

 

(b)
Option to Prosecute. In the event that ReJoy desires to abandon or cease prosecution or maintenance of any ReJoy IP for which Jupiter
then has a license under this Agreement, ReJoy shall provide reasonable prior written notice to Jupiter of such intention to abandon
(which notice shall be given no later than ninety (90) days prior to the next deadline for any action that must be taken with respect
to any such ReJoy IP in the relevant patent office). In such case, ReJoy shall permit Jupiter at Jupiter’s sole discretion, to
continue prosecution and maintenance of such ReJoy IP, at Jupiter’s own expense and Jupiter shall promptly provide to ReJoy the
latest information for such efforts.

 

(c)
Cooperation. The non-prosecuting party shall reasonably assist and cooperate with the prosecuting party, at the prosecuting party’s
expense, as the prosecuting party may reasonably request from time to time, in the prosecution of the ReJoy IP, as applicable, including
that the non- prosecuting party shall provide access to relevant documents and other evidence and make inventors and employees available
at reasonable business hours (provided, however, that neither party shall be required to provide legally privileged information with
respect to such intellectual property unless and until procedures reasonably acceptable to such party are in place to protect such privilege).

 

    	 

     

    

 

7.5
Enforcement of ReJoy IP.

 

(a)
Notification. In the event that either Jupiter or ReJoy becomes aware of (i) any alleged or threatened infringement by a third party
of any Patent with respect to a Product that is sold or used by Jupiter or (ii) any declaratory judgment action or other similar challenge
by a third party with respect to the same (in each case (i) and (ii), referred to for purposes of this Agreement as “Infringement”),
it shall notify the other party in writing to that effect.

 

(b)
Jupiter Rights.

 

(i)
Subject to Section 7.5(c), Jupiter shall have the first right, but not the obligation, to seek to obtain a discontinuance of such Infringement
or bring and prosecute an action against any third-party infringer under the ReJoy IP as applicable using counsel Jupiter chooses. For
clarity, the foregoing includes the rights to defend the validity or enforceability of the ReJoy IP from any challenge. Jupiter shall
bear the expenses of any action brought by it, except as otherwise expressly provided in this Section 7.5. ReJoy shall have the right
to participate in any such action, at its own expense using counsel of its choice. In the event that ReJoy has elected to so participate,
Jupiter shall consult with ReJoy regarding any settlement, consent judgment or other voluntary final disposition of the action. Notwithstanding
the foregoing, unless otherwise set forth herein, and subject to Section7.5(c), Jupiter shall have the right to settle any action brought
or being defended in accordance with this Section 7.5(b)(i); provided, however, that Jupiter may not settle any such suit or action under
this Section 7.5(b)(i) in a manner that imposes any costs or liability on or involves any admission by ReJoy or otherwise adversely affects
ReJoy’s rights under this Agreement, the ReJoy IP or other ReJoy business, without ReJoy’s express written consent, such
consent not to be unreasonably withheld, conditioned or delayed.

 

(ii)
Any recovery obtained by either or both Jupiter and ReJoy in connection with or as a result of any action contemplated by this section,
whether by settlement or otherwise, shall be shared in order as follows:

 

		(1)	the
                                            party which initiated and prosecuted the action shall recoup all of its costs and expenses
                                            incurred in connection with the action;
		(2)	the
                                            other party shall then, to the extent possible, recover its costs and expenses incurred in
                                            connection with the action; and
	 	(3)	any
     remaining amount of such recovery actually collected shall be equally distributed to Jupiter and ReJoy.

 

    	 

     

    

 

(c)
ReJoy Rights.

 

(i)
Jupiter shall promptly inform ReJoy if it elects not to exercise its first rights in the Territory of any ReJoy IP as set forth in Section
7.5(b)(i). ReJoy shall notify Jupiter if it intends to seek to obtain a discontinuance of such Infringement or bring and prosecute an
action against the third party with respect to the ReJoy IP. Prior to ReJoy seeking discontinuance or initiating an action against such
third party, the parties shall, promptly after Jupiter’s informing to ReJoy above, meet and confer regarding Jupiter’s decision
not to exercise its first right and ReJoy shall consider Jupiter’s decision and the underlying reasons. Within thirty (30) Business
Days of such meeting, Jupiter shall inform ReJoy whether it instead elects to enforce itself any of its rights. If Jupiter so elects,
it shall do so in accordance with Section 7.5(b). Otherwise, ReJoy shall thereafter have the right but not the obligation to, within
one hundred and twenty (120) days of Jupiter’s failure to elect, seek to obtain a discontinuance of such Infringement or bring
and prosecute an action against the third party with respect to the ReJoy IP. ReJoy shall bear the expenses of any action brought by
it. ReJoy shall not be obligated to consult with Jupiter regarding any settlement, consent judgment or other voluntary final disposition
of the suit or action. Notwithstanding the foregoing, unless otherwise set forth herein, ReJoy shall have the right to settle any suit
or action brought or being defended in accordance with this Section 7.5(c)(i); provided, however, that ReJoy may not settle any such
suit or action under this Section 7.5(c)(i) in a manner that imposes any costs or liability on or involves any admission by Jupiter or
otherwise adversely affects Jupiter’s rights under this Agreement or Jupiter business, without Jupiter’s express written
consent (which consent shall not be unreasonably conditioned, withheld or delayed).

 

(ii)
Any recovery obtained by either or both Jupiter and ReJoy in connection with or as a result of any action contemplated by this section,
whether by settlement or otherwise, shall be shared in order as follows:

 

		(1)	the
                                            party which initiated and prosecuted the action shall recoup all of its costs and expenses
                                            incurred in connection with the action;
		(2)	the
                                            other party shall then, to the extent possible, recover its costs and expenses incurred in
                                            connection with the action; and
	 	(3)	any
                                            remaining amount of such recovery actually collected shall be distributed to ReJoy.

 

7.6
Cooperation. Where a party controls any Infringement action or other activities pursuant to Section 7.5 or Section 7.7, the other
party shall assist and cooperate with the controlling party, as such controlling party may reasonably request from time to time and at
such controlling party’s expense, in connection with its activities set forth in this Section 7.6, including where necessary, providing
access to relevant documents and other evidence and making its employees available at reasonable business hours.

 

7.7
Patent Term Extension. The parties shall cooperate fully with each other in their efforts of obtaining patent term extension or
supplemental protection certificates or their equivalents to the ReJoy IP. The parties shall discuss in good faith election as to the
patent term extension of which ReJoy IP shall be pursued, and if the parties do not agree thereon, ReJoy shall have the right to make
the election of the ReJoy IP to be extended. Provided that, in case ReJoy does not desire to obtain such extension but Jupiter desires
the extension, ReJoy shall obtain such extension at Jupiter’s out-of-pocket expenses and Jupiter shall use commercially reasonable
efforts to support ReJoy to obtain such extensions to ReJoy IP.

 

    	 

     

    

 

7.8
Third Party Intellectual Property Rights. On a Drug-by-Drug basis, in the event that a court or a governmental agency of competent
jurisdiction determines that the ReJoy IP infringes the patent rights or other intellectual property rights of a third party, or if Jupiter,
following consultation with outside counsel from a reputable law firm, reasonably determines in good faith that it is necessary to obtain
a license from a third party under such third party’s patents in order for Jupiter to use, research develop market, manufacture,
import, sell, advertise, promote and/or distribute such Drug, Jupiter shall promptly notify ReJoy. If Jupiter obtains such a license
from a third party to enable itself to use, develop, market, manufacture, import, sell, advertise, promote and/or distribute any Drug,
Jupiter may, in addition to any other remedy under or in connection with this Agreement, deduct an aggregate of the amounts actually
paid to such third party pursuant to such license (license fees, milestones and royalty payments) from the payment to ReJoy under this
Agreement. Jupiter will keep ReJoy reasonably informed of the decision to in-license third party’s patents and in connection with
the negotiations with such third party.

 

7.9
Trademarks. Jupiter shall not have the right to use ReJoy trademarks.

 

ARTICLE
VIII

REPRESENTATION,
WARRANTY AND COVENANTS

 

ReJoy
hereby represents and warrants to Jupiter as of the Effective Date and covenants, as follows:

 

		(i)	it
                                            has sufficient legal and/or beneficial rights under the ReJoy IP to grant the exclusive licenses
                                            and any other rights granted to Jupiter hereunder, and it will not grant any licenses or
                                            rights to any other person or entity that would conflict with the exclusive licenses and
                                            any other rights granted to Jupiter hereunder.
		(ii)	ReJoy
                                            is the sole and exclusive owner of the entire right, title and interest in the ReJoy IP existing
                                            as of the Effective Date, free and clear of any lien, or claim of ownership of any third
                                            party.
		(iii)	(A)
                                            all issued Patents are in full force and effect and subsisting; (B) none of the issued Patents
                                            are currently involved in any interference, reissue, reexamination, or opposition proceeding;
                                            and (C) ReJoy has not received any written notice from any person, or has knowledge, of such
                                            actual or threatened proceeding.
		(iv)	ReJoy
                                            has not previously entered into any agreement, whether written or oral, with respect to the
                                            assignment, transfer, license, conveyance or encumbrance of, or otherwise assigned, transferred,
                                            licensed, conveyed or encumbered its right, title, or interest in or to, any ReJoy IP to
                                            develop, market, manufacture and have manufactured, sell, advertise, promote and distribute
                                            the Products, including by granting any covenant not to sue with respect thereto.
		(v)	there
                                            are no legal proceedings pending, ReJoy has not received written notice, and to the best
                                            of ReJoy’s knowledge, there are no claims;

 

(A)
that is challenging the ownership, validity or enforceability of the ReJoy IP,

 

(B)
that the use or practice of the ReJoy IP in the development, manufacture or commercialization of the Products does or would infringe,
violate or misappropriate the intellectual property rights of a third Party; or

 

(C)
that is otherwise involving any ReJoy IP.

 

		(vi)	to
                                            the best of ReJoy’s knowledge, there exists no patents of third parties that would
                                            be infringed by the parties to perform their obligations hereunder;

 

    	 

     

    

 

		(vii)	to
                                            the best of ReJoy’s knowledge, no third party is infringing or misappropriating any
                                            existing ReJoy IP;
		(viii)	to
                                            the best of ReJoy’s knowledge, all information and data related to the Products provided
                                            in writing or any other tangible form by or on behalf of ReJoy to Jupiter on or before the
                                            Effective Date (including the information made available by or on behalf of ReJoy to Jupiter
                                            for the purpose of the due diligence performed by Jupiter) is true and accurate and not misleading
                                            in any material respects, and ReJoy has disclosed or made available to Jupiter any such information
                                            or data which would reasonably interpreted as material in the pharmaceutical business to
                                            Jupiter’s decision to enter into this Agreement; and
	 	(ix)	all
                                            information and data related to the Products provided by or on behalf of ReJoy to Jupiter
                                            before, on or after the Effective Date, to be incorporated into regulatory document is accurate.

 

ARTICLE
IX

INDEMNIFICATION
AND LIMITATION ON LIABILITY

 

9.1
ReJoy Indemnity. ReJoy shall indemnify, defend and hold harmless Jupiter, its affiliates, officers, directors, agents and employees
against, any and all loss, liability, third party liability, claims, allegations, losses, damages, suits, demands, actions, proceedings,
judgements, costs or expenses (including attorneys’ fees and expenses as reasonably incurred) (collectively, the “Liability”)
arising out of or relating to (i) any breach by ReJoy of any of its representations warranties or obligations under this Agreement, (ii)
the gross negligence or willful misconduct of ReJoy or its employees, officers, directors or agents in performing any activities or obligations
hereunder, or (iii) the infringement of the patent, copyright, trademark, trade secret or other intellectual property rights of any third
party arising out of Jupiter’s activities conducted in compliance with this Agreement. Provided that in the case of any third-party
claim, Jupiter shall (a) promptly notify ReJoy of the claim (in any event, within twenty (20) days after Jupiter becomes aware of the
claim), (b) authorize and allow ReJoy to have sole control of the defense and settlement of the claim, and (c) provide all information
and cooperation reasonably requested by ReJoy at ReJoy’s expense.

 

9.2
Jupiter Indemnity. Jupiter shall indemnify and hold harmless ReJoy, its affiliates, officers, directors, agents and employees
against the Liability arising out of or relating to (i) any breach by Jupiter of any of its representations warranties or obligations
under this Agreement, (ii) the gross negligence or willful misconduct of Jupiter or its employees, officers, directors or agents in performing
any activities or obligations hereunder, or (iii) the infringement of the patent, copyright, trademark, trade secret or other intellectual
property rights of any third party arising out of Jupiter’s activities not conducted in compliance with this Agreement. Provided
that in the case of any third-party claim, ReJoy shall (a) promptly notify Jupiter of the claim (in any event, within twenty (20) days
after ReJoy becomes aware of the claim) (b) authorize and allow Jupiter to have sole control of the defense and settlement of the claim,
and (c) provide all information and cooperation reasonably requested by Jupiter at Jupiter’s reasonable expense.

 

    	 

     

    

 

9.3
Disclaimers. EXCEPT AS EXPRESSLY SET FORTH HEREIN, NEITHER PARTY MAKES NO WARRANTIES, EXPRESS OR IMPLIED, TO THE OTHER PARTY
UNDER THIS AGREEMENT AND HEREBY DISCLAIMS ALL IMPLIED AND EXPRESSED WARRANTIES, INCLUDING ANY WARRANTIES OF MERCHANTABILITY, FITNESS
FOR A PARTICULAR PURPOSE, AND ANY IMPLIED WARRANTIES ARISING OUT OF A COURSE OF PERFORMANCE OR DEALING.

 

9.4
Limitation on Liability. REJOY AND JUPITER WILL NOT BE LIABLE FOR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING
OUT OF OR IN CONNECTION WITH THIS AGREEMENT, THE PRODUCTS OR REJOY IP.

 

ARTICLE
X

TERMINATION

 

10.1
Termination for Breach. In the event of a material breach by a party to this Agreement, the non-breaching party has a right to
terminate this Agreement with a thirty (30) days prior written notice; provided, the breaching party had failed to cure the breach within
fifteen (15) days from the date of receiving the notice. If the breach is cured within this window, the termination notice shall automatically
be deemed to have been withdrawn.

 

10.2
Termination for Failure to Meet Benchmarks. In the event Jupiter fails to meet its obligations in Sections 3.6, 3.7 or 3.8, ReJoy
may terminate this Agreement immediately.

 

10.3
Termination upon Asset Sale. This Agreement shall terminate according to the terms of Section 4.6.

 

10.4
Effect of Insolvency. This Agreement shall automatically terminate (i) if either party files a petition in bankruptcy, or is adjudicated
bankrupt, or a petition in bankruptcy filed against either party is not dismissed or stayed within One Hundred and Eighty (180) days;
or (ii) if either party makes an assignment for the benefit of its creditors; or (iii) if a receiver, custodian, trustee or liquidator
is appointed for the party or its business. In the event that a party who falls under any of above items shall immediately notify the
other party in writing.

 

10.5
Upon Termination. In the event this Agreement is terminated, the licenses herein shall terminate, Jupiter shall pay ReJoy any
owed Agreement Payments, Jupiter shall transfer ownership of any Drug data to ReJoy, and if the termination is under Section 4.6, ReJoy
shall make the payments to Jupiter as described therein.

 

ARTICLE
XI

PROPRIETARY
INFORMATION

 

11.1
ReJoy and Jupiter each acknowledges that it may, in the course of performing its obligations under this Agreement, have access to the
confidential, proprietary and commercially valuable information disclosed by the other party including, but not limited to, non-public
information concerning the other party’s products, business partners and employees, customers and future plans.

 

    	 

     

    

 

11.2
Neither party shall use or disclose any such information except for use under the terms of this Agreement.

 

11.3
Neither party shall issue a press release or make a public statement of any type, including but not limited to advertisement, that mentions
the other party, unless the other party provides prior written approval of such press release or public statement.

 

ARTICLE
XII

MISCELLANEOUS

 

12.1
Governing Law; Jurisdiction. This Agreement shall be governed by and construed in accordance with the law of the State of California
without regard to conflict of law provisions. Any disputes arising out of or in relation to this Agreement shall be settled by arbitration
under the American Arbitration Association held in Irvine, CA. The proceeding of arbitration shall be conducted in English and one (1)
arbitrator shall be appointed for the proceeding in accordance with the said rule. The result of the arbitration shall be final and binding
the Parties.

 

12.2
Notices. All notices which are required or permitted hereunder shall be in writing and sufficient if delivered personally, sent
by nationally-recognized overnight courier or sent by registered or certified mail, postage prepaid, return receipt requested, addressed
as follows or as subsequently modified by written notice given in accordance with this Section 12.2.

 

if
to ReJoy, to:

 

Address:17780
Fitch, Suite 192, Irvine, CA 92614

 

Attn:
John McCoy

 

if
to Jupiter, to:

 

Address:
1061 E Indiantown Road, Jupiter, FL 33477

 

Attn:
Glynn Wilson

 

All
notices given or made pursuant to this Agreement shall be deemed effectively given upon the earlier of actual receipt or (a) personal
delivery to the party to be notified, (b) one (1) business day after deposit with a nationally - recognized overnight courier, freight
prepaid, specifying next business day delivery, with written verification of receipt, (c) five (5) days after having been sent by registered
or certified mail, return receipt requested, postage prepaid, or (d) by email with receipt acknowledged.

 

12.3
Severability. If any term or provision of this Agreement shall to any extent be held to be invalid or unenforceable, the remainder
of this Agreement shall not be affected thereby, and each remaining term and provision of this Agreement shall be valid and enforced
to the fullest extent permitted by law.

 

    	 

     

    

 

12.4
Reservation of Rights. Neither party shall receive any rights under this Agreement except for those rights expressly and unambiguously
set forth herein.

 

12.5
Entire Agreement. This Agreement represents the complete agreement and understanding between ReJoy and Jupiter with respect to
the subject matter herein and supersedes any other prior written or oral agreement with respect to the subject matter herein. The terms
and conditions of this Agreement may only be modified in a writing signed by both parties.

 

12.6
Recovery of Costs. In any action to enforce rights under this Agreement, the prevailing party shall be entitled to recover costs
and attorneys’ fees.

 

12.7
No Implied Waiver. Any failure by either party to enforce any of the terms and provisions of this Agreement shall not be considered
a continuing waiver of that party’s right thereafter to enforce such terms and provisions. No provision of this Agreement shall
be deemed waived unless such waiver is in writing signed by both parties.

 

12.8
Survival. Notwithstanding any termination or expiration of this Agreement, Articles VI (ASSIGNMENT, SOLICITATION AND COMPETITION),
VII (INTELLECTUAL PROPERTY RIGHTS), IX (INDEMNIFICATION AND LIMITATION ON LIABILITY), X (TERMINATION), XII (MISCELLANEOUS) XI (PROPRIETARY
INFORMATION) shall survive such termination or expiration. Unless otherwise specified herein, any obligations of the parties under this
Agreement which by their nature will continue beyond the termination of this Agreement shall survive.

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be executed in duplicate by their duly authorized representatives.

 

	Jupiter
    Wellness, Inc.	ReJoy
	 	 	 	 
	By:
    	 	By:	 
	Name:	Glynn
    Wilson	Name:	 
	Title:	Chairman	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}]]