Document:

Exhibit 10.1

 

[*]
Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would
be competitively harmful if publicly disclosed. 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sublicense
AGREEMENT

 

 

  

between

 

Hoth
Therapeutics, Inc.

 

and

 

ISOPRENE
PHARMACEUTICALS, INC.

 

 

 

 

 

 

 

 

 

 

 

 

    

     

    

 

 

TABLE
OF CONTENTS

 

 

 

	Background	1
	 	 
	Article I Definitions	1
	 	 
	Article II GRANT OF license	7
	 	 
	Article III Diligence Requirements	11
	 	 
	Article IV FINANCIAL PROVISIONS	12
	 	 
	Article V PATENT PROSECUTION	14
	 	 
	Article VI CONFIDENTIALITY	14
	 	 
	Article VII REPORTS, PAYMENTS, AND ACCOUNTING	16
	 	 
	Article VIII INFRINGEMENT	18
	 	 
	Article IX TERM AND TERMINATION	21
	 	 
	Article X Other agreements	23
	 	 
	Article XI REPRESENTATIONS AND WARRANTIES	24
	 	 
	Article XII INSURANCE and INDEMNIFICATION	26
	 	 
	Article XIII DISPUTE RESOLUTION	29
	 	 
	Article XIV NOTICES AND INVOICES	30
	 	 
	Article XV assignment	30
	 	 
	Article XVI	30
	 	 
	MISCELLANEOUS	30

 

Schedules

 

	A	INVENTIONS
	 	 
	B	PATENT RIGHTS
	 	 
	C	LICENSED MATERIALS
	 	 
	D	FIELD AND TERRITORY
	 	 
	E	CONSIDERATION AND DILIGENCE MILESTONES
	 	 
	F	PAYMENT INFORMATION
	 	 
	G	CONTACT INFORMATION FOR PAYMENTS AND REPORTING
	 	 
	H	DESIGNATED OFFICERS
	 	 
	I	NOTICES AND INVOICES
	 	 
	J	COVERED PRODUCT PATENT RIGHTS

 

    i

     

    

 

 

SUBLICENSE AGREEMENT

 

This Sublicense Agreement
(“Agreement”) is made as of July 30, 2020 (“Effective Date”), by and between Isoprene
Pharmaceuticals, Inc., a Delaware corporation (“Isoprene”) and Hoth Therapeutics, Inc., a Nevada
corporation (“Licensee”).

 

Background

 

WHEREAS,
Isoprene has exclusively licensed the Isoprene Intellectual Property (as defined below) in all fields of use from the University
of Maryland, Baltimore (“University”), pursuant to that certain Master License Agreement dated July 8, 2020
between Isoprene and University (the “University License Agreement”).

 

WHEREAS,
Licensee wishes to obtain, and Isoprene wishes to grant, an exclusive sublicense under the Isoprene Intellectual Property solely
for use in the Field, during the Term, and in the Territory (each, as defined below).

 

NOW, THEREFORE,
in consideration of the foregoing premises and the mutual promises, covenants, and conditions contained in this Agreement, and
for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending
to be legally bound, hereby agree as follows:

 

Article
I

Definitions

 

In this Agreement,
the following terms have the meanings set forth in this Article I.

 

“Abandoned
Patent Rights”: As defined in Section 5.1.3.

 

“Business
Day”: A day other than a Saturday, Sunday, federal holiday observed in the United States, or any day on which banking
institutions are open for business in New York, New York.

 

“Change of
Control”: With respect to a party, any one of the following: (a) a sale, lease, transfer, or other disposition of all
or substantially all of the assets or business ; (b) a merger, consolidation, reorganization, recapitalization, share exchange,
business combination, or similar form of transaction in which the equity holders immediately prior to such transaction cease to
own collectively fifty percent (50%) or more of the equity securities of the successor entity of Isoprene; or (c) the acquisition
of fifty percent (50%) or more of the equity securities by a person or group of persons acting in concert, in each case, whether
through a single transaction or a series of related transactions.

 

“Clinical
Trial”: A human clinical trial of a Licensed Product that satisfies the requirements of 21 C.F.R. §312.21, or its
foreign equivalent.

 

    1

     

    

 

“Combination
Product”: A product (a) with respect to which no royalty is payable by Licensee to a third party and (b) that contains
at least one Covered Component and a least one Non-Covered Component.

 

“Commercially
Reasonable Efforts”: With respect to the commercialization of a product, efforts that are consistent with those utilized
by companies of size and type similar to Licensee (or, if applicable, a Sublicensee), for products with similar commercial potential
at a similar stage, taking into consideration their safety and efficacy, their cost to develop, the competitiveness of alternative
products, the nature and extent of their market exclusivity, the likelihood of regulatory approval, their profitability, and all
other relevant factors.

 

“Confidential
Information”: Information (including without limitation documents, notes, drawings, models, designs, data, results, memoranda,
tapes, records, hardware, software, formulae, algorithms, standard operating procedures (“SOPs”), strategic business
plans, product forecasts, communications with government entities, financial information, pricing information, personnel information,
and other commercially sensitive or proprietary information or materials, in hard copy form or in electronic form) which is disclosed
by a party to the other party in connection with this Agreement, including without limitation information that is related to, results
from, or arises out of use of the Inventions, the Licensed Material, or practice of the Patent Rights.

 

“Covered Component”:
A component that is a Licensed Product or Covered Product, as applicable.

 

“Covered Product”:
A product the sale of which in a country would infringe an issued patent within the Covered Product Patent Rights listed in Schedule
J.

 

“Covered Product
Patent Rights”: (a) the issued patent listed in Schedule J; (b) all patents and patent applications, whether
filed before or after the Effective Date, which claim priority under 35 U.S.C. §119 or the benefit of the filing date under
35 U.S.C. §120 or §371 (but only to the extent of subject matter in a patent or patent application for which priority
or benefit is claimed); (c) any substitution, divisional, continuation, and continuation-in-part (but only to the extent a claim
in a patent or patent application described in clause (a) or (b) covers subject matter disclosed in the continuation-in-part or
a claim in the continuation-in-part is directed to subject matter contained in a patent or patent application described in clause
(a) or (b)); (d) any patent issuing from any patent or patent application described in clause (a), (b), or (c); (e) any reissue,
renewal, reexamination, supplementary protection certificate, or extension of any patent or patent application described in clause
(a), (b), (c), or (d); and (f) any foreign counterpart or equivalent of any patent or patent application described in clause (a),
(b), (c), (d), or (e).

 

“Designated
Officers”: As set forth on Schedule G.

 

“Diligence
Milestone”: As defined in Section 3.1.

 

“Discloser”:
As defined in Section 6.1.1.

 

“Dollar”
means a U.S. dollar, and “$” shall be interpreted accordingly.

 

“Effective
Date”: As defined in the Preamble.

 

    2

     

    

 

“Export Control
Laws”: The Arms Export Control Act; the Export Administration Act of 1979; the International Traffic in Arms Regulations;
the Export Administration Regulations; or any other rules or regulations pertaining to restrictions on use or disclosure of goods,
information, or technology, of any applicable governmental agency.

 

“FDA”:
The U.S. Food and Drug Administration, or any successor agency thereto.

 

“Federal IP
Policy”: U.S. law and regulations applicable to intellectual property funded in whole or in part by the U.S. Government,
including without limitation 35 U.S.C. §200 et seq., 15 U.S.C. §3710a, and 37 C.F.R. Part 401.

 

“Field”:
As set forth in Schedule D.

 

“HIPAA”:
The Health Insurance Portability and Accountability Act of 1996.

 

“Indemnitee”:
As defined in Section 12.2.3.

 

“Indemnitor”:
As defined in Section 12.2.3.

 

“Infringe,”
“infringe,” “infringement,” or any correlative term: Any infringement (whether direct, indirect,
contributory or otherwise) of the intellectual property rights of Isoprene (including without limitation under the doctrines of
claim construction or differentiation, literal overlap or equivalents); or any misuse, misappropriation, theft, or breach of confidence
related to the Inventions and/or the Patent Rights.

 

“Inventions”:
The inventions described in the invention disclosures and patent applications described on Schedule A.

 

“IP Policies”:
Collectively: (a) The University System of Maryland Policy on Intellectual Property, effective July 1, 2002, as amended, and any
predecessor or successor policy adopted by USM regarding intellectual property and applicable to the Inventions, Patent Rights,
and Licensed Material; and (b) the UMB Policy on Intellectual Property, and any successor policy adopted by University regarding
intellectual property and applicable to the Inventions, Patent Rights, and Licensed Material.

 

“Isoprene”:
As defined in the Preamble.

 

“Isoprene
Indemnitees” or “Isoprene Indemnitee”: As defined in Section 12.2.1.

 

“Isoprene
Intellectual Property”: Collectively, the Patent Rights, Licensed Material and Inventions.

 

“License Fees”:
As set forth in Schedule E.

 

“Licensee”:
As defined in the Preamble.

 

“Licensee
Affiliate”: Any Person which controls, is controlled by, or is under common control with Licensee. For purposes of this
definition only, “control” means (a) to possess, directly or indirectly (through one or more intermediaries), the power
to direct the management or policies of a Person, whether through ownership of voting securities or by contract relating to voting
rights or corporate governance, or (b) to own, directly or indirectly, more than fifty percent (50%) of the outstanding voting
securities or other ownership interest of a Person.

 

    3

     

    

 

“Licensee
Indemnitees” or “Licensee Indemnitee”: As defined in Section 12.2.2.

 

“Licensee
Personnel”: Officers, directors, employees of Licensee and any Licensee Affiliate. Licensee Personnel shall also include
independent contractors, agents, and representatives, when those individuals are acting in such capacity.

 

“Licensed
Material”: As set forth in Schedule C.

 

“Licensed
Product”: Any product, service, or process, the development, making, use, offer for sale, sale, importation, or providing
of which: (a) is covered by one or more claims of the Patent Rights; or (b) contains, comprises, utilizes, incorporates, or is
derived from the Inventions, any technology disclosed in the Patent Rights, Isoprene’s or University’s Confidential
Information, or any information provided to Licensee by University Personnel (including without limitation under a consulting agreement),
Licensed Material, or a Modification.

 

“Milestone
Payments”: As set forth in Schedule E.

 

“Modification”:
A substance created through the use of the Licensed Material: (a) which contains or incorporates the Licensed Material (but which
is not a Progeny or Unmodified Derivative); or (b) which would infringe one or more claims of the Patent Rights, or which is manufactured
using a process which would infringe one or more claims of the Patent Rights.

 

“Net Revenues”:
The gross revenues received from sales of Licensed Products or Covered Products, as applicable, less the following: (a) sales or
use taxes, value added taxes, excise taxes, customs duties, and other governmental charges; (b) amounts invoiced to the customer
for outbound transportation, shipping, handling, and insurance; and (c) amounts actually allowed or credited on returns or rejections
of Licensed Products or Covered Products, as applicable, or billing errors. With respect to sales of a Combination Product, then
the calculation of “Net Revenues” shall be adjusted as follows:

 

(1) The
gross amount received with respect to the Combination Product shall be multiplied by the fraction A/[A+B], where A is the
invoiced sales price of the Covered Component(s) if the Covered Component(s) is sold separately, and B is the total invoiced sales
price of any Non-Covered Component if the Non-Covered Component sold separately.

 

(2) If,
on a country by country basis, the Covered Component(s) in the Combination Product and the Non-Covered Component are not sold separately
in a country, the gross amount received with respect to the Combination Product shall be multiplied by the fraction C/[C+D],
where C is the actual total cost of the Covered Component(s) at the point of inclusion into the Combination Product, and D
is the actual total cost of the Non-Covered Component(s) at the point of inclusion into the Combination Product. If the Non-Covered
Component had been previously sold and later discontinued, then D is the average selling price of the Non-Covered Component over
the twelve (12) month period immediately preceding discontinuance.

 

    4

     

    

 

(3) If
on a country-by-country basis the Covered Component(s) and the Non-Covered Component(s) are not sold separately in finished form
in a country, Net Revenues shall be determined by the parties in good faith based on the relative actual total costs of goods for
each Covered Component and Non-Covered Component in the Combination Product.

 

(4) If
either party alleges in good faith that the foregoing formulae would not produce a reasonable determination of Net Revenues, the
matter shall be resolved pursuant to the dispute resolution procedures set forth in Article XIII.

 

“Non-Commercial
Organization”: As defined in Section 2.2.2.

 

“Non-Commercial
Uses”: As defined in Section 2.2.1.

 

“Non-Covered
Component”: A component: (a) that is a proprietary, clinically-active therapeutic ingredient or proprietary biological
material; and (b) that is not a Covered Component. For clarity, generic packaging components, buffers, or other nominal components
are not Non-Covered Components.

 

“Non-Paying
Party”: As defined in Section 7.1.

 

“Patent Challenge”:
Any action before a court or governmental authority which disputes the validity or enforceability of, or otherwise opposes or interferes
adversely with the prosecution of, any of the claims of the Patent Rights (including without limitation filing an action under
the Declaratory Judgment Act, 28 U.S.C. §2201(a)).

 

“Patent Expenses”:
All fees, charges, expenses, and costs incurred before and after the Effective Date in connection with the preparation, filing,
prosecution (including without limitation any issuance, reissuance, reexamination, interference, or opposition), and/or maintenance
of patents or patent applications relating to the Patent Rights, including without limitation all fees and charges of outside patent
counsel. Patent Expenses shall be considered to be incurred when the fee, charge, expense, or cost is actually incurred (rather
than when it is invoiced). For example, charges of outside patent counsel are considered to be incurred as of the date on which
the professional services are rendered.

 

“Patent Rights”:
(a) U.S. and foreign patents and patent applications listed in Schedule B, as it may be amended from time to time by
mutual agreement of the parties; (b) all patents and patent applications, whether filed before or after the Effective Date, which
claim priority under 35 U.S.C. §119 or the benefit of the filing date under 35 U.S.C. §120 or §371 (but only to
the extent of subject matter in a patent or patent application for which priority or benefit is claimed); (c) any substitution,
divisional, continuation, and continuation-in-part (but only to the extent a claim in a patent or patent application described
in clause (a) or (b) covers subject matter disclosed in the continuation-in-part or a claim in the continuation-in-part is directed
to subject matter contained in a patent or patent application described in clause (a) or (b)); (d) any patent issuing from any
patent or patent application described in clause (a), (b), or (c); (e) any reissue, renewal, reexamination, supplementary protection
certificate, or extension of any patent or patent application described in clause (a), (b), (c), or (d); and (f) any foreign counterpart
or equivalent of any patent or patent application described in clause (a), (b), (c), (d), or (e).

 

    5

     

    

 

“Paying Party”:
As defined in Section 7.1

 

“Person”:
An individual, sole proprietorship, partnership, limited partnership, limited liability partnership, corporation, limited liability
company, business trust, joint stock company, trust, incorporated association, joint venture or similar entity or organization,
including a government or political subdivision, department or agency of a government.

 

“Progeny”:
An unmodified descendant from the Licensed Material, such as virus from virus, cell from cell, or organism from organism.

 

“Public Information
Act”: As defined in Section 6.5.

 

“Recipient”:
As defined in Section 6.1.1.

 

“Required
Third Party License”: As defined in Section 4.6.1.

 

“Sale,”
“sale,” “sell,” or any correlative term: The sale, lease, license, transfer, or other disposition
of a Licensed Product or Covered Product, as applicable, in return for any type of consideration. Licensed Products or Covered
Products, as applicable, shall be considered sold when shipped or invoiced, whichever is first.

 

“Sublicense”:
A license, grant of rights to, or other similar permission to use all or some of the rights licensed under this Agreement.

 

“Sublicense
Income”: Consideration in any form received from a Sublicensee for use of the Inventions, Patent Rights, Licensed Material,
or otherwise in consideration of its rights as a Sublicensee, including without limitation option fees, up-front fees, license
signing fees, license maintenance fees, milestone payments, success fees, and any other consideration paid by or on behalf of the
Sublicensee. “Sublicense Income” shall not include any payment or consideration received from a Sublicensee
in consideration for anything other than a Sublicense, including without limitation: any royalties based on sales of Licensed Products
by any Sublicensee; amounts paid for equity of Licensee by a Sublicensee (up to fair market value); loans or extensions of credit
by a Sublicensee to Licensee; consideration for a license granted under technology other than the Inventions, Patent Rights, or
Licensed Material; or consideration designated specifically and solely for research and development by Licensee of a Licensed Product.

 

“Sublicensee”:
A Person which receives a Sublicense.

 

“Term”:
As defined in Section 9.1.

 

“Territory”:
As set forth on Schedule D.

 

“University
License Agreement”: As defined in the Recitals.

 

“University
Related Organizations”: USM, any constituent institution of USM, University of Maryland Medical System Corporation, faculty
practice organizations of University, and the Baltimore Veterans Administration Medical Center.

 

    6

     

    

 

“Unmodified
Derivative”: A substance which constitutes an unmodified functional subunit or product expressed by the Licensed Material
(including without limitation subclones of unmodified cell lines, purified or fractionated subsets of biological material, proteins
expressed by DNA/RNA supplied by University, or monoclonal antibodies secreted by a hybridoma cell line).

 

“Unreimbursed
Litigation Costs”: As defined in Section 8.2.2(a).

 

“USM”:
The University System of Maryland, a public corporation and an instrumentality of the State of Maryland.

 

“USPTO”:
The U.S. Patent and Trademark Office.

 

Article
II

GRANT OF license

 

Section
2.1Grant.

 

2.1.1 Subject
to the terms and conditions of this Agreement, in consideration for the payments set forth herein, Isoprene hereby grants to Licensee
an exclusive right and sublicense, but only during the Term, within the Field, and in the Territory, under the Isoprene Intellectual
Property, (a) to make, have made, use, sell, offer to sell and import the Licensed Products; (b) in connection therewith, to use
the Inventions and Licensed Material; and (c) to practice the Patent Rights.

 

2.1.2 Licensee
acknowledges and agrees that (a) the sublicense is granted under the rights of Isoprene under the University License Agreement
and is subject to the retention of rights by Isoprene to take any action or necessary or advisable to comply with its obligations
under the University License Agreement, (b) the sublicense is subject to the rights of the U.S. Government under grants to the
University and Federal IP Policy, and (c) Isoprene has or may sublicense or otherwise assign or transfer the Isoprene Intellectual
Property to Third Parties outside the Field.

 

2.1.3 Licensee
acknowledges and agrees that if the University License Agreement is terminated or expires: (a) upon the request of University,
Licensee’s duties and obligations under this Agreement shall be transferred from Isoprene to University or University’s
designee, and (b) if Licensee is not in default of this Agreement, Licensee may request a license from University to the rights
sublicensed to the Licensee under this Agreement (it being understood that otherwise no rights shall become directly licensed from
University to Licensee).

 

2.1.4 Licensed
Material.

 

(a) Promptly
after signing this Agreement, Isoprene shall make available to Licensee a mutually agreed quantity of Licensed Material at the
sole cost of Licensee. Licensee may use such Licensed Material to develop and commercialize Licensed Products solely in the Field,
but may not use it for any other purpose.

 

(b) Licensee
acknowledges that University retains ownership of the Licensed Material, including any Licensed Material contained or incorporated
in Modifications.

 

    7

     

    

 

(c) Isoprene
retains ownership of: (1) Modifications and (2) those substances created through the use of the Licensed Material or Modifications.

 

(d)The Licensed
Material has not been approved for use in humans.

 

(e) Licensee
agrees that its use of the Licensed Material will comply with all applicable statutes, regulations, and guidelines, including U.S.
Public Health Service and National Institutes of Health regulations and guidelines.

 

Section
2.2Reservation of Rights. Notwithstanding anything contained in this Agreement
to the contrary, Licensee acknowledges that the Inventions and the Patent Rights are licensed from the University and, the University
has retained for itself and for University Related Organizations the following rights:

 

2.2.1 To
use the Inventions, to practice under the Patent Rights, and to make and use Licensed Products and Licensed Material on a royalty-free
basis for research, scholarly use, teaching, education, patient care incidental to the foregoing, and other similar uses, including
without limitation sponsored research and collaborations (“Non-Commercial Uses”);

 

2.2.2 To
license government agencies, universities or other educational institutions, organizations of the type described in §501(c)(3)
of the Internal Revenue Code, scientific or educational organizations qualified under a state nonprofit organization statute (or
foreign equivalents of the foregoing) (“Non-Commercial Organizations”) to use the Inventions, and to practice
under the Patent Rights, and to make and use Licensed Products and Licensed Material on a royalty-free basis solely for Non-Commercial
Uses; and to provide material and information (excluding Confidential Information of Licensee) to Non-Commercial Organizations
solely for Non-Commercial Uses;

 

2.2.3 Subject
to Article 7 (Confidentiality) of the University License Agreement, to disseminate and publish scientific findings from
research related to the Inventions, Patent Rights, Licensed Material, and/or Licensed Products, and to permit University Personnel
to do the same.

 

Accordingly, the rights and licenses granted
by Isoprene to Licensee hereunder are subject in all cases to the retained rights set forth in this Section 2.2.

 

Section
2.3Sublicenses.

 

2.3.1 Generally.

 

(a) Licensee
may grant sublicenses of some or all of the rights granted by this Agreement; provided that Licensee has obtained the prior
written consent of Isoprene and University, and the grant complies with the terms and conditions of this Section 2.3. Licensee
shall be and remain responsible for the performance by each Sublicensee of the Licensee’s obligations under this Agreement.

 

(b) Prior
to entering into any sublicense, Licensee shall provide Isoprene and University a draft of the proposed sublicense in substantially
final form. Isoprene and University shall each have fifteen (15) Business Days after receipt of the draft agreement to provide
Licensee with comments. Licensee shall make reasonable revisions to accommodate any Isoprene and University comments. If Licensee
disputes any Isoprene or University comment, it shall advise Isoprene and University prior to finalizing the Sublicense, and the
parties shall negotiate in good faith to resolve any disagreement. Licensee shall promptly provide to Isoprene and University true
and complete copy of each executed Sublicense and any amendments. Any documents provided under this Section 2.3 shall be
subject to Article VI (Confidentiality).

 

    8

     

    

 

(c) Any
purported Sublicense entered into by Licensee in violation of the requirements of this Section 2.3 shall be voidable in
whole or in part by Isoprene and University.

 

(d) 
Licensee shall be responsible to ascertain, compute, audit, and collect all consideration that is payable by the Sublicensee, and
to enforce the performance by the Sublicensee of its obligations under the sublicense.

 

(e) Licensee
shall be required to pay Sublicense Income to Isoprene, pursuant to Section 4.5.

 

2.3.2 Required
Terms of Sublicenses. Any Sublicense shall be consistent with and subject to the terms and conditions of this Agreement, and
shall incorporate terms and conditions sufficient to enable Licensee to comply with this Agreement. In addition, any Sublicense
shall:

 

(a) expressly
include provisions for the benefit of Isoprene and University substantially similar to this Section 2.3 (Sublicenses),
Section 2.6 (Patent Challenges), Section 4.6 (Royalty Stacking), Article VI (Confidentiality),
Article VII (Reports, Payments, and Accounting), Article X (Other Agreements), and Section 11.2
(Disclaimer of Warranties by University);

 

(b) require
the Sublicensee to maintain insurance consistent with the requirements of Section 12.1, and to defend, indemnify, and hold
harmless Isoprene, the State of Maryland, the University System of Maryland, University, University Related Organizations, and
each of their respective current and future regents, directors, trustees, officers, faculty, medical and professional staff, employees,
students, trainees, and agents, and their respective successors, heirs, and assigns consistent with Section 12.2;

 

(c) prohibit
further sublicensing by Sublicensee without the prior written consent of Isoprene and University (which consent shall not be unreasonably
withheld), and require that any permitted Sublicense from a Sublicensee to a downstream Sublicensee satisfy the requirements of
this Section 2.3 and Licensee shall notify Isoprene and University of the identity of any such further Sublicensees;

 

(d) require
that any dispute between Sublicensee and Isoprene which may arise upon termination or expiration of the Sublicense shall be subject
to dispute resolution on the terms and conditions set forth in Article XIII (Dispute Resolution) of this Agreement;
and

 

    9

     

    

 

(e) provide
that if this Agreement is terminated or expires: (1) if requested by Isoprene, all of Sublicensee’s duties and obligations
under the Sublicense shall be transferred from Licensee to Isoprene or its designee; and (2) any Sublicensee not in default may
request a license from Isoprene to the rights sublicensed to the Sublicensee under the Sublicense (it being understood that otherwise
no rights shall become directly licensed from Isoprene to any Sublicensee).

 

2.3.3 Limitations.
Notwithstanding anything contained in this Agreement to the contrary, Isoprene shall not be bound by any of the following with
respect to a Sublicense: (a) duties or obligations of Licensee that exceed the obligations of Isoprene under this Agreement; and/or
(b) duties or obligations of Licensee contained in any Sublicense that are not contained in this Agreement, or which extend beyond
the Term.

 

Section
2.4No Implied Rights. This Agreement confers no license or rights by implication,
estoppel, or otherwise in any intellectual property, except as explicitly set forth in this Agreement. Any rights not expressly
granted to Licensee under this Agreement are expressly reserved by Isoprene.

 

Section
2.5Government Rights and Regulations.

 

2.5.1 The
U.S. Government retains certain rights in the Inventions under Federal IP Policy. This Agreement is subject in all respects to
Federal IP Policy.

 

2.5.2 As
a condition of the sublicense granted under this Agreement, Licensee acknowledges and agrees to comply with all aspects of Federal
IP Policy which are applicable to the Inventions and Patent Rights (unless duly waived or exempted by the U.S. Government). This
includes without limitation the obligation that Licensed Products used or sold in the U.S. be manufactured substantially in the
U.S., unless the U.S. Government determines that reasonable attempts to do so have been unsuccessful or domestic manufacture is
not commercially feasible.

 

2.5.3 The
use and disclosure of Confidential Information acquired pursuant to this Agreement and the exercise of the sublicense granted by
this Agreement are subject to the Export Control Laws, assets, and financial control regulations of the U.S., including without
limitation restrictions under regulations of the U.S. that may be applicable to direct or indirect re-exportation of Confidential
Information or of equipment, products, or services directly produced by use of Confidential Information. Licensee is responsible
for complying with those regulations, in addition to the obligations set forth in Section 6.6.

 

2.5.4 The
U.S. Government retains the right in certain circumstances set forth in Federal IP Policy to require University to grant to a responsible
applicant a nonexclusive, partially exclusive, or exclusive license to use the Inventions or Patent Rights in the applicant’s
field of use on terms that are reasonable under the circumstances; or, if University fails to do so, to grant a license itself.
The U.S. Government also retains the nonexclusive, nontransferable, irrevocable, royalty-free, paid-up right to practice or have
practiced the Inventions or Patent Rights throughout the world by or on behalf of the U.S. Government and on behalf of any foreign
government or international organization pursuant to any existing or future treaty or agreement to which the U.S. Government is
a signatory.

 

    10

     

    

 

Section 2.6Patent Challenges.

 

2.6.1 Prior
to taking or causing the taking of any Patent Challenge concerning the Patent Rights in any forum outside of the USPTO, Licensee
agrees to first pursue an appropriate proceeding, filing, or other action in the USPTO in the form of an Inter Partes Review
or Post Grant Review. Licensee agrees to await a final determination of any Inter Partes Review or Post Grant Review pursuant
to this Section 2.6.1 by the tribunal of last resort having jurisdiction prior to taking or causing the taking of the Patent
Challenge in a forum outside of the USPTO. Licensee and Isoprene agree that this Section 2.6.1 does not prohibit or limit
Licensee’s ability to take or cause the taking of any Patent Challenge, but merely dictates procedurally a Patent Challenge
falling under the scope and kind that the USPTO is authorized to adjudicate.

 

2.6.2 If
Licensee takes or causes the taking of any Patent Challenge, Licensee agrees to pay directly to Isoprene (and not into any escrow
or other account) all royalties, milestone payments, Sublicense Income, and any other payment due under this Agreement during the
period of challenge. If a Patent Challenge brought by Licensee is successful, Licensee shall have no right to recoup any amounts
paid before or during the period of the Patent Challenge.

 

2.6.3 The
provisions of this Section 2.6 shall apply in all events jointly and severally to Licensee and all Licensee Affiliates.

 

Article
III

Diligence Requirements

 

Section 3.1Milestones.
Licensee shall timely achieve the diligence milestones (each, a “Diligence Milestone”) set forth on Schedule
E, as it may be duly extended pursuant to Section 3.2.

 

Section 3.2Extension of Diligence
Milestones. Licensee may request, in writing, an extension of the
due date for achieving a Diligence Milestone set forth on Schedule E, by up to six months. Isoprene will grant the requested
extension provided Licensee (a) requests such extension no later than sixty (60) days prior to the due date, (b) provides Isoprene
a business plan and timeline for achievement of such Diligence Milestone and (c) has used Commercially Reasonable Efforts to achieve
such Diligence Milestone by the due date. The extension of a Diligence Milestone shall automatically extend the deadline for subsequent
Milestones set forth in Schedule E with respect to the same subject matter by the same extension period.

 

Section 3.3Diligence Reports.
Licensee shall notify Isoprene of the achievement of each Diligence Milestone within thirty (30) days of achieving them. In addition,
Licensee shall provide semi-annual written reports for the first two (2) years after the Effective Date, and annual written reports
thereafter, to Isoprene on progress against the Diligence Milestones. The reports shall be due within thirty (30) days following
the expiration of each reporting period. However, no progress reports under this Section 3.3 shall be due during the period
in which sales of Licensed Products are made. Any information or reports provided under this Section 3.3 shall be treated
as Confidential Information subject to Article VI (Confidentiality).

 

    11

     

    

 

Article
IV

FINANCIAL PROVISIONS

 

Section 4.1License Fee.
In partial consideration of the rights granted pursuant to Section 2.1, Licensee agrees to pay the License Fee as set forth
on Schedule E within thirty (30) days of the Effective Date. Such License Fee shall neither be refundable nor credited against
any other payment obligations.

 

Section 4.2Investment.

 

4.2.1 Promissory
Note. Within thirty (30) days of the Effective Date, Licensee agrees to make an investment of fifty thousand dollars ($50,000)
in Isoprene in the form of a convertible promissory note issued by Isoprene (the “Promissory Note”). The Promissory
Note shall bear annual interest at a rate of six percent (6%) and be convertible upon a qualified financing at a price equal to
ninety percent (90%) of the price per share paid by the other investors in such qualified financing, and shall otherwise be on
commercially reasonable terms mutually agreed by the parties.

 

4.2.2 Revenue
Interest. In consideration for Licensee’s investment described in Section 4.2.1, effective upon receipt by Isoprene
of such investment, Isoprene agrees to pay Licensee a revenue interest in the amount of [*] percent ([*]%) of Net Revenues of Covered
Products sold by Isoprene during the Term, in accordance with Section 7.3; provided that, at the time of any sale of any
Covered Product, this Agreement is in full force and effect and Licensee is in compliance with the terms of this Agreement.

 

Section 4.3Milestone Payments.
In partial consideration of the rights granted pursuant to Section 2.1, Licensee agrees to pay the Milestone Payments as
set forth on Schedule E within thirty (30) days of the achievement of the applicable milestones. Such Milestone Payments
shall neither be refundable nor credited against any other payment obligations.

 

Section 4.4Royalties.

 

4.4.1 Running
Royalties.

 

(a) In
addition to the consideration paid pursuant to Section 4.1 and Section 4.3, Licensee agrees to pay Isoprene royalties
at the Royalty Rate as set forth on Schedule E, based on Net Revenues on sales of Licensed Products by Licensee and/or Sublicensees,
in accordance with Section 7.3.

 

(b) Notwithstanding
anything herein to the contrary, if Licensee sells a Combination Product and Section 4.6 (Royalty Stacking) applies
to such Combination Product, the royalties payable to Isoprene for sales of such Combination Product shall not be reduced by a
total of more than [*] percent ([*]%) of the royalties that would have been payable to Isoprene absent the effects of the
formula for determining Net Revenues of Combination Products.

 

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Section 4.5Sublicense Income.

 

4.5.1 Licensee
shall pay Isoprene the following payments on Sublicense Income:

 

(a) [*]
percent ([*]%) of all Sublicense Income which is received by Licensee or Licensee Affiliates with respect to any Sublicense that
is executed prior to the first dosing of the first patient in a Phase 2 Clinical Trial of a Licensed Product;

 

(b) [*]percent
([*]%) of all Sublicense Income which is received by Licensee or Licensee Affiliates with respect to any Sublicense that is executed
after the first dosing of the first patient in a Phase 2 Clinical Trial of a Licensed Product.

 

4.5.2 Any
cash payment due to Isoprene under this Section 4.5 shall be paid in accordance with Section 7.3.

 

4.5.3 Isoprene
shall have the option, in its sole discretion, to have any non-cash Sublicense Income (including without limitation securities)
either: (a) paid in kind by Licensee transferring and delivering to Isoprene the required percentage of Sublicense Income; or (b)
paid by the Licensee in the cash equivalent of the fair market value of the Sublicense Income. If paid to Isoprene within fifteen
(15) days following Licensee’s receipt, the Sublicense Income shall be valued at the fair market value as of the date of
payment to Licensee If Licensee cannot transfer and deliver the Sublicense Income within fifteen (15) days of Licensee’s
receipt without violating an applicable law, regulation, or other legal requirement, or the terms of any agreement or other arrangement
with a third party (including the Sublicensee), then Licensee shall transfer and deliver the portion of the Sublicense Income payable
to Isoprene pursuant to Section 4.5.1 as soon as the transfer is permitted. As to form of Sublicense Income that cannot
be valued as contemplated by this Section 4.5.3, the parties shall negotiate in good faith to arrive at a mutually agreeable
solution under which Isoprene shall receive its required Sublicense Income payment. Any dispute as to the proper valuation of the
portion of Sublicense Income payable to Isoprene shall be resolved pursuant to the dispute resolution procedures set forth in Article
XIII.

 

Section 4.6Royalty Stacking.

 

4.6.1 This
Section 4.6 shall apply with respect to the sales of Licensed Product(s), if the Licensee was required to obtain a license
from a third party in order to avoid infringing such third party’s patent(s) in the sale of the Licensed Product(s) (a “Required
Third Party License”).

 

4.6.2 Licensee
may deduct up to [*] percent ([*]%) of any royalties due under Required Third Party Licenses for sales of a Licensed
Product from any royalties due to Isoprene under this Agreement; provided, however:

 

(a) the
royalties due to Isoprene shall not be reduced by more than [*] ([*]%) of the royalties that would have been payable to Isoprene
absent the effects of this Section 4.6; and

 

(b) any
such deduction shall only apply if all Required Third Party Licenses contain similar royalty stacking provisions so that the royalty
rates payable under this Agreement and all Required Third Party Licenses are reduced on a similar or pro rata basis.

 

4.6.3 
Licensee shall provide prompt written notice to Isoprene upon entering into any Required Third Party License. Such notice shall
contain a calculation of the percentage by which royalties payable to Isoprene will be reduced as a result.

 

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4.6.4 Licensee
shall not permit any Sublicensee to deduct from any amount due to Licensee more than [*] percent ([*]%) of royalties or Sublicense
Income due as a result of any licenses from one or more third parties to that Sublicensee.

 

Article
V

PATENT PROSECUTION

 

Section 5.1Patent Prosecution and
Maintenance.

 

5.1.1 The
patent applications filed by University and set forth on Schedule B are the only Patent Rights that are licensed hereunder.

 

5.1.2 Pursuant
to Section 6.1 of the University License Agreement, University is solely responsible for preparing, filing, prosecuting and maintaining
the Patent Rights. Accordingly, neither Licensee nor Isoprene is responsible for, nor does Licensee have any authority to prepare,
file, prosecute, or maintain the Patent Rights.

 

5.1.3 Isoprene
shall not, without the prior written consent of Licensee, directly or through University cease prosecution or maintenance of any
Patent Right (any such Patent Right, an “Abandoned Patent Right”). Licensee acknowledges that Isoprene shall
lose any license rights to such an Abandoned Patent Right under the University License Agreement.

 

5.1.4 Isoprene
shall advise Licensee reasonably promptly as to material developments with respect to the Patent Rights. Isoprene shall promptly
provide Licensee with copies of all communications relating to the Patent Rights within the Field from the USPTO and any foreign
patent office.

 

5.1.5 Neither
party shall be liable for any loss, as a whole or in part, of a patent or patent term extension granted by the USPTO (or any foreign
patent office) on a patent included in the Patent Rights or Abandoned Patent Rights, including without limitation if the loss results
from acts or omissions of outside patent counsel retained by a party that are outside such party’s control.

 

Section 5.2Patent Expenses.
Licensee will pay for [*] percent ([*]%) of all Patent Expenses incurred after the Effective Date and during the Term. Licensee
shall pay each undisputed invoice for Patent Expenses in full to Isoprene within thirty (30) days after the date of the invoice.

 

Article
VI

CONFIDENTIALITY

 

Section 6.1General Restrictions
on Use and Disclosure.

 

6.1.1 A
party (in its capacity as the “Discloser”) may disclose Confidential Information to the other party (the “Recipient”).
For a period of five (5) years following its disclosure, Recipient shall hold the Confidential Information in confidence, and may
disclose or use the Discloser’s Confidential Information only as permitted by this Agreement. Recipient shall not use the
Confidential Information for any other purpose without the prior written consent of Discloser. Recipient shall notify Discloser
immediately, and shall cooperate fully, at Discloser’s reasonable request, upon Recipient’s discovery of any loss or
compromise of the Confidential Information.

 

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6.1.2 Recipient
may give access to or disclose the Discloser’s Confidential Information only to its Personnel who (a) have a need to know
the Confidential Information for the purposes permitted by this Agreement, and (b) are required to comply with the obligations
of confidentiality and restricted use contained within this Agreement.

 

6.1.3 Any
Confidential Information that would identify human research subjects or patients shall be maintained confidentially in accordance
with applicable law.

 

Section 6.2Permitted Use and Disclosure.

 

6.2.1 The
confidentiality obligations created by this Agreement shall not apply if and to the extent that: (a) the information is or becomes
generally available to the public (other than through Recipient’s breach of this Agreement or any other agreement, including
the University License Agreement, violation of applicable law, or unauthorized act); (b) the information was already in the possession
of Recipient at the time of the disclosure (other than pursuant to a confidential disclosure agreement or Recipient’s unauthorized
act); (c) the information is or was developed by Recipient independent of and with no reliance upon Confidential Information of
Discloser; (d) the information was disclosed to Recipient by a third party which did not acquire the information under an obligation
of confidentiality to Discloser; (e) the disclosure or use is reasonably necessary to fulfill or comply with requirements of governmental
authorities having jurisdiction, including without limitation the U.S. Securities and Exchange Commission, National Institutes
of Health, FDA, and USPTO, and foreign equivalents of the foregoing; (f) disclosure is required by applicable law; (g) disclosure
of the information is necessary or advisable for Isoprene to comply with its obligations under the University License Agreement;
or (h) disclosure of the information to University is necessary or advisable for either party to comply with its obligations under
this Agreement.

 

6.2.2 In
the event of disclosure required by applicable law, Recipient shall (to the extent legally permissible) use reasonable efforts
to give Discloser prior written notice of disclosure. Recipient, consistent with its counsel’s advice, shall take reasonable
and lawful actions to obtain confidential treatment for the Confidential Information and to minimize the extent of the disclosure,
or allow Discloser the opportunity to take those actions.

 

Section 6.3Markings and Legends.
Discloser shall use reasonable efforts to mark all Confidential Information disclosed to Recipient as “Confidential.”
If the Confidential Information is not in written or tangible form and marked “Confidential” when disclosed, Discloser
shall use reasonable efforts to summarize the information in writing, mark the summary “Confidential,” and provide
the summary to Recipient within thirty (30) days after disclosure of the Confidential Information to Recipient. Failure to meet
the marking requirements shall not affect Recipient’s confidentiality obligations under this Agreement to the extent that:
(a) Recipient has actual knowledge that the information is Confidential Information; (b) the information by its nature would reasonably
be considered to be confidential; or (c) the information is disclosed or otherwise made available under circumstances that reasonably
indicate that it is confidential or proprietary. 

 

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Section 6.4 Confidentiality Standards.
Recipient shall only be required to use reasonable efforts to protect the confidentiality of the Discloser’s Confidential
Information in a manner consistent with the efforts used by Recipient to protect its own Confidential Information.

 

Section 6.5Public Information Act.
Any Confidential Information provided to University by Isoprene or Licensee is a public record when in the possession of University,
which may be subject to inspection pursuant to §4-101 et seq., General Provisions Article, Annotated Code of Maryland
(the “Public Information Act”). Any Confidential Information which is a trade secret, confidential financial
information, or confidential commercial information is exempt from disclosure under §4-335 of the Public Information Act.

 

Section 6.6Export Control Laws.
Each party shall comply with applicable export control laws and regulations of the United States and other relevant countries as
such laws currently exist and as they may be amended from time to time, with respect to any export of Confidential Information
and any immediate products and services based thereupon.

 

Section 6.7Title.
As between Discloser and Recipient, title to the Confidential Information remains exclusively with Discloser.

 

Section 6.8Return or Destruction
of Confidential Information.

 

6.8.1 Upon
expiration or termination of this Agreement for any reason, Recipient shall either return or destroy the Discloser’s Confidential
Information, together with all copies and descriptions of the Confidential Information made by Recipient, and shall provide written
certification of the same to Discloser upon request.

 

6.8.2 Recipient
may retain one (1) copy of the Confidential Information for the sole purpose of being able to determine the scope of its obligations
of confidentiality under this Agreement. Recipient shall not be required to return or destroy Discloser’s Confidential Information
(a) created or maintained as electronic files automatically saved pursuant to standard archiving or back-up procedures, or (b)
required to be retained in accordance with applicable law. Recipient may not otherwise use or disclose any of such retained Confidential
Information.

 

6.8.3 If
and to the extent any regulatory agency requests access to Recipient’s files after the return of Confidential Information
to Discloser, Recipient may either refer that agency to Discloser, or Discloser shall grant Recipient limited access again to that
Confidential Information to allow compliance with the request.

 

Article
VII

REPORTS, PAYMENTS, AND ACCOUNTING

 

Section 7.1Records; Audits.
During the Term and for five (5) years after its expiration or termination, each party (the “Paying Party”)
shall keep (and Licensee shall require each Sublicensee to keep) complete, true, and accurate records containing all the particulars
that may be necessary to determine all amounts payable to the other party (the “Non-Paying Party”). The records
shall be subject to inspection at any time during regular business hours upon reasonable notice by an independent auditor appointed
by the Non-Paying Party for this purpose and reasonably acceptable to the Paying Party, but not more than once per twelve (12)-month
period. This audit shall be at the Non-Paying Party’s expense; provided, however, if the audit determines that the
Paying Party underpaid by an amount which is greater than the cost of the audit, the audit expense shall be payable by the Paying
Party.

 

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Section 7.2Reports.

 

7.2.1 Within
fifteen (15) days after the close of each calendar quarter, Licensee shall deliver to Isoprene a complete, true, and accurate report,
giving particulars of the business conducted by Licensee and Sublicensees, if any, in the preceding period that are pertinent to
any accounting for amounts payable under Article IV (Financial Provisions) and Article VIII (Infringement).
These reports shall be certified complete, true, and accurate by an authorized officer of Licensee, and shall include at least
the following information for the period:

 

(a) any
Milestone Payment due for such calendar quarter;

 

(b) accounting
for all Licensed Products that were sold and Net Revenues received, including without limitation number of units of Licensed Products
that were sold, total billings for Licensed Products that were sold, and deductions applied in determining Net Revenues, and similar
data used to calculate Net Revenues for sales of Combination Products;

 

(c) the
aggregate Sublicense Income received by Licensee;

 

(d) names
and addresses of all Sublicensees (including without limitation downstream Sublicensees); and

 

(e) accounting
for all expenses and all recoveries pursuant to Section 8.4, as applicable.

 

7.2.2 Within
fifteen (15) days after the close of each calendar quarter following the first sale of a Covered Product, Isoprene shall deliver
to Licensee a complete, true, and accurate report, giving particulars of the business conducted by Isoprene in the preceding period
that are pertinent to any accounting for amounts payable under Section 4.2.2 (Revenue Interest). These reports shall
be certified complete, true, and accurate by an authorized officer of Licensee, and shall include accounting for all Covered Products
that were sold and Net Revenues received, including without limitation number of units of Covered Products that were sold, total
billings for Covered Products that were sold, and deductions applied in determining Net Revenues, and similar data used to calculate
Net Revenues for sales of Combination Products incorporating a Covered Product.

 

Section 7.3Payment.
Within five (5) Business Days of submission of a report in accordance with Section 7.2, the Paying Party must pay to the
Non-Paying Party the applicable payments (including Milestone Payments, royalties and Sublicense Income payments) due and payable
under this Agreement for the period covered by the report. If no royalties, fees or other payments are due, the Paying Party shall
so report. Payments shall be made in U.S. Dollars by check(s) drawn to the order of the Non-Paying Party or by wire transfer of
immediately available funds to an account designated by Paying Party in writing; provided that, if Licensee and Isoprene each owe
payments in any particular calendar quarter, the parties may set-off payments owed by one party to the other such that only one
payment is made by either party in such calendar quarter. For example, if Isoprene owes $100,000 in a given calendar quarter and
Licensee owes $500,000 in such calendar quarter, Licensee may deduct $100,000 from the payment to be made to Isoprene and pay Isoprene
$400,000 in such calendar quarter. Payment shall be made in accordance with the instructions set forth on Schedule F, as
it may be changed from time to time by the Paying Party.

 

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Section 7.4Interest on Late Payments.
Interest is due on any payment to the Non-Paying Party required under this Agreement that is more than thirty (30) days late and
on any underpayment of royalties or other amounts payable under this Agreement. The interest rate is one and one half percent (1.5%)
simple interest per month accruing from the due date.

 

Section 7.5Payments in Foreign Countries.

 

7.5.1 Royalties,
Sublicense Income, and other payments under this Agreement are payable from the country in which they are earned and are subject
to foreign exchange regulations then prevailing in the country. Payments must be paid to the Non-Paying Party in Dollars by check(s)
drawn to the order of the Non-Paying Party. To the extent payments are due on amounts earned in a foreign country, those payments
shall be determined first in the currency of the country in which they are earned, and then converted to their equivalent in Dollars.
The buying rates of exchange for converting the currencies involved into the currency of the U.S. quoted by the Wall Street
Journal (or any successor), averaged on the last Business Day of each of three (3) consecutive calendar months constituting
the period in which the royalties were earned, shall be used to determine any conversion. The Paying Party shall bear any loss
of exchange or value or pay any expenses incurred in the transfer or conversion to U.S. dollars.

 

7.5.2 If
any applicable law or regulation (including without limitation currency exchange regulations) prevents or limits payments in any
country, the Paying Party shall render to the Non-Paying Party annual reports of sales, Sublicense Income (if applicable), or other
applicable activities in that country. All monies due and owing to the Non-Paying Party as provided in the annual reports shall,
at the Non-Paying Party’s option: (a) be deposited promptly in a local bank in that country in an account to be designated
by the Non-Paying Party in writing; or (b) be paid promptly to the Non-Paying Party or deposited in its account, as directed in
writing by the Non-Paying Party in any other country where the payment or deposit is lawful.

 

Section 7.6Contact Information for
Payments and Reports.
Each party’s contact information for payments and reports is set forth on Schedule G. Each party shall promptly notify
the other party of any change of such information.

 

Article
VIII

INFRINGEMENT 

 

Section 8.1Notification.
Any party which becomes aware of substantial, credible evidence that a third party is infringing any Isoprene Intellectual Property
in the Field shall promptly deliver to the other party written notice of that infringement together with all such evidence available
to such party.

 

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Section 8.2Right to Sue Infringers.

 

8.2.1 Subject
to Section 8.5, if any Isoprene Intellectual Property licensed to Licensee are infringed by a third party, Isoprene shall
have the first and primary right, but not the obligation, to institute, prosecute, and control any action or proceeding with respect
to such infringement (including without limitation any declaratory judgment action arising from such infringement), by counsel
of its choice and at its own expense.

 

8.2.2 Any
amount recovered as a result of an action taken under Section 8.2.1 (including without limitation pursuant to any settlement)
shall be allocated between University, Isoprene, and Licensee as follows:

 

(a) Isoprene
(and University, if applicable) shall be entitled to reimbursement for reasonable, documented out-of-pocket costs incurred in obtaining
or negotiating such recovery (including without limitation reasonable attorneys’ fees, expert witness fees, court costs and
other costs and expenses of litigation at trial and appellate levels), to the extent that such costs are not otherwise reimbursed
(including without limitation by Licensee or other third party) (“Unreimbursed Litigation Costs”).

 

(b) Any
recovery in excess of the Unreimbursed Litigation costs shall be distributed as follows:

 

(i) University
shall receive any recovery due under the University License Agreement

 

(ii) The
remainder shall be divided equally between Isoprene and Licensee without reference to the relative monetary injury suffered by
Licensee by reason of the Infringement for which such amounts are recovered.

 

Section 8.3Defense of Third Party
Infringement Claims

 

8.3.1 If
a third party claims patent infringement against Licensee as a result of Licensee’s use of the Isoprene Intellectual Property
in the Field in the Territory, Licensee shall promptly notify Isoprene and University thereof in writing, setting forth the facts
of that claim in reasonable detail. Subject to Section 8.5, Licensee shall have the primary right, but not the obligation,
to defend and control the defense of any such claim against Licensee, by counsel of its own choice and at its own expense.

 

8.3.2 Subject
to applicable law, Isoprene agrees to cooperate reasonably with Licensee’s defense of any such action; provided, however,
Isoprene shall not be required to incur any out-of-pocket expenses.

 

8.3.3 Any
amounts paid by Licensee to any third party as damages or other compensation with respect to infringement of a third party’s
rights shall be treated as third party royalties that Licensee shall be entitled to deduct from royalties due Isoprene in accordance
with Section 4.6 (Royalty Stacking).

 

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Section 8.4Conduct of Suit by Licensee.

 

8.4.1 Licensee
shall diligently pursue any suit or action under Section 8.2 or Section 8.3. Licensee shall keep University and Isoprene
reasonably apprised of all material developments. Licensee shall seek the input and approval of Isoprene and University on any
substantive submissions or positions taken regarding the scope, validity, and/or enforceability of the Patent Rights, such approval
not to be unreasonably withheld. Licensee shall not prosecute or defend any suit in a manner that is reasonably expected to materially
adversely affect the interests of Isoprene, University, or any University Related Organization.

 

8.4.2 Licensee
may enter into a settlement, consent judgment, or other voluntary disposition of any suit or action under Section 8.2 or
Section 8.3; provided, however, Isoprene and University shall have the right of prior approval (such approval not
to be unreasonably withheld) regarding any settlement, consent judgment, or other voluntary disposition of any such claim. Licensee’s
request for such approval shall include complete copies of final settlement documents, a detailed summary of such settlement, and
any other information material to such settlement. Isoprene and University shall provide Licensee notice of its approval or denial
within fifteen (15) Business Days of receipt of any request for such approval by Licensee. 

 

8.4.3 Upon
request stating that Licensee has determined that it is necessary for Isoprene to join in order to prosecute or defend any suit
or action under Section 8.2 or Section 8.3, Isoprene may be joined in the suit or action as a nominal party. Isoprene
may be named as a party only if: (a) Licensee’s and Isoprene’s respective counsel recommend that such action is necessary
in their reasonable opinion to achieve standing or to avoid dismissal; (b) Isoprene is not the first named party in the action;
(c) the pleadings and any public statements about the action state that Licensee is pursuing the action and that Licensee has the
right to join Isoprene as a nominal party; (d) Isoprene shall otherwise have no obligations in connection with the suit or action,
other than as specifically set forth in this Agreement; and (e) Licensee reimburses, indemnifies, and holds harmless Isoprene from
any costs, expenses, or fees (including without limitation reasonable attorneys’ fees and litigation costs) which University
incurs as a result of such joinder.

 

Section 8.5Rights to Sue or Intervene.

 

8.5.1 If
Licensee fails to notify Isoprene of its intent to respond in opposition to a legal action under Section 8.3 within five
(5) Business Days after Licensee’s receipt of notice of the filing of the action, or if Licensee notifies Isoprene that it
does not intend to oppose the action, Isoprene shall have the right, but not the obligation, in its sole discretion, to take any
action it deems appropriate, including without limitation responding to the action.

 

8.5.2 Licensee
acknowledges that University shall have a continuing right, but not the obligation, in its sole discretion, to join in any legal
action involving the Inventions and Patent Rights, and to participate through counsel of its own choosing, if University reasonably
determines that the failure to join would have a materially adverse effect upon the University.

 

8.5.3 Notwithstanding
anything in this Agreement to the contrary, if University files suit, responds to, or otherwise joins in any legal action, University
shall be entitled to settle any action on terms to be established by University in its sole but reasonable discretion.

 

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Section 8.6General.

 

8.6.1 Each
party shall cooperate at its own expense (except as set forth in Section 8.3.2) with the other party in connection with
any action under this Article VIII. Each party shall provide prompt access to all necessary documents and shall render reasonable
assistance in response to requests by the other party.

 

8.6.2 Any
party which commences a suit and then wants to abandon it shall give written notice to the other party reasonably in advance of
the next material deadline in the suit (but in no event less than thirty (30) days). The other party may continue prosecution of
the suit, in which event the parties shall negotiate in good faith regarding the sharing of expenses and any recovery in the suit.

 

8.6.3 NEITHER
PARTY SHALL BE LIABLE FOR ANY LOSSES INCURRED AS A RESULT OF AN ACTION FOR INFRINGEMENT BROUGHT AGAINST THE OTHER PARTY AS A RESULT
OF THE OTHER PARTY’S ACTIONS OR OMISSIONS, INCLUDING WITHOUT LIMITATION ITS EXERCISE OF ANY RIGHT GRANTED UNDER THIS AGREEMENT.

 

Article
IX

TERM AND TERMINATION

 

Section 9.1Term and Expiration.
This Agreement shall commence as of the Effective Date, and unless earlier terminated in accordance with this Article IX,
shall remain in full force and effect on a country-by-country basis until the expiration of the last to expire of the Patent Rights
in such country (the “Term”).

 

Section 9.2Termination by Isoprene.

 

9.2.1 Failure
to Pay. If Licensee or a Licensee Affiliate fails to pay any sum due and payable under this Agreement, Isoprene may terminate
this Agreement and the license(s) granted under this Agreement, if the failure is not cured within thirty (30) days of receiving
written notice thereof from Isoprene.

 

9.2.2 Other
Failure to Perform. In the event of any non-payment breach, default, or other failure by Licensee to perform any material provision
of this Agreement (other than those covered by another subsection of this Section 9.2), Isoprene may terminate this Agreement
and the license(s) granted under this Agreement, if the breach, default, or other failure is not cured within the time period set
forth in a relevant Section of this Agreement, or if none is so stated, within sixty (60) days of written notice thereof.

 

9.2.3 Bankruptcy.
Isoprene may terminate this Agreement and the sublicense granted under this Agreement upon Licensee’s making of an assignment
for the benefit of creditors or being adjudicated bankrupt; the placing of all or substantially all of Licensee’s assets
in the control of a receiver or trustee for the benefit of creditors and the receivership or trusteeship continues for a period
of at least ninety (90) days; Licensee’s instituting proceedings under the federal bankruptcy laws relating to insolvency
of debtors, in which Licensee seeks to be adjudicated bankrupt or to be discharged of its debts, or to affect a plan of liquidation
or reorganization; or the instituting by others of those proceedings against Licensee, and Licensee consents or acquiesces by pleading
or default, or those proceedings are not contested and discharged within ninety (90) days.

 

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9.2.4 Patent
Challenge. If Licensee takes or causes the taking of any Patent Challenge (but excluding a request for Inter Partes
Review or Post Grant Review under Section 2.6.1), Isoprene shall have the right to terminate this Agreement.

 

Section 9.3Termination by Licensee.
Licensee may terminate this Agreement with ninety (90) days advance written notice of termination, and shall pay to Isoprene all
payments due through the effective date of the termination, including without limitation royalties, Sublicense Income, fees and
Patent Expenses. 

 

Section 9.4Termination of University
License. This Agreement shall automatically terminate upon termination
or expiration of the University License; provided that if requested by University, all of Licensee’s duties and obligations
under this Agreement shall be transferred from Isoprene to University or its designee, and Licensee may request a direct license
from University to the rights granted under this Agreement unless Licensee is in default of this Agreement at the time of its request.

 

Section 9.5Survival.
Expiration or termination of this Agreement does not relieve either party of any obligation which arises before expiration or termination,
including without limitation obligations for payment and reporting. Any provision of this Agreement which contemplates performance
or observance subsequent to any termination or expiration of this Agreement shall survive any termination or expiration of this
Agreement and continue in full force and effect, including without limitation Article VI (Confidentiality), Article
VII (Reports, Payments, and Accounting), Section 12.1.6 (Insurance), Section 12.2 (Indemnification),
and Article XIII (Dispute Resolution). 

 

Section 9.6Effect of Termination.
Upon expiration or termination of this Agreement in whole or in part for any reason:

 

9.6.1 Licensee
shall not thereafter have any license or other rights to the Isoprene Intellectual Property;

 

9.6.2 Licensee
shall be obligated to pay the portion of Patent Expenses set forth in Section 5.2 incurred during the following period after
the effective date of termination or expiration: (a) sixty (60) days in the event of expiration or termination by Isoprene pursuant
to Section 9.2; or (b) until the effective date of termination in the event of a termination by Licensee pursuant to Section
9.3;

 

9.6.3 Licensee
shall not thereafter grant to any Sublicensee, or third party any rights in the Isoprene Intellectual Property;

 

9.6.4 Each
party shall comply with the requirements of Section 6.8 (Return or Destruction of Confidential Information);

 

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9.6.5 Licensee
shall immediately either deliver to Isoprene, or destroy and certify to Isoprene in writing the destruction of, the following which
it received from or on behalf of Isoprene: Licensed Material and other and other physical embodiments or manifestations of the
Inventions and/or the Patent Rights;

 

9.6.6 Each
party shall execute and deliver any agreements, instruments, and documents as are reasonably necessary or appropriate to carry
out the terms and conditions of this Agreement, including without limitation in connection with prosecuting any patent application(s)
or otherwise obtaining Patent Rights; and

 

9.6.7 Isoprene
shall not thereafter have any obligation to pay Licensee any revenue interest on Covered Products.

 

Article
X

Other agreements

 

Section 10.1Use of Names, Endorsements,
and Publicity. 

 

10.1.1 Neither
party shall use the name, seal, logo, trademark, or service mark of the other party, any affiliate, University or any University
Related Organization, or any of their respective Personnel, or any adaptation thereof, in any advertising, publicity, or other
public statements without prior written consent obtained from such other party, affiliate, University, University Related Organization,
or individual, as the case may be, except where required by applicable law or regulation.

 

10.1.2 Either
party may publicize the fact that the parties have entered into this Agreement. However, press releases or other public releases
of information shall be agreed upon by the parties prior to release.

 

10.1.3 Licensee
acknowledges that University does not directly or indirectly endorse any product or service provided or to be provided by Isoprene,
Licensee, a Sublicensee, or their successors and assigns. Licensee shall not in any way advertise, publicize, or imply that University
endorses any of those products or services

 

Section 10.2Patent Marking.
Licensee shall cause “Patent Pending,” the Patent Rights patent number, or other patent markings to appear on all Licensed
Products, their labels or their packaging to the extent required by and in accordance with the law in each country where Licensed
Products are sold or offered for sale. 

 

Section 10.3Inspection.
Licensee shall allow Isoprene to inspect, at any time during regular business hours and upon reasonable notice, all Licensee correspondence
regarding the Patent Rights and/or Licensed Products to and from the FDA and any other applicable U.S. regulatory agency, and any
foreign equivalent.

 

Section 10.4Non-Disparagement.
Each party acknowledges, agrees, and covenants that it will not make any public statement, comment, or communication that could
constitute disparagement of, or that may be considered to be derogatory or detrimental to the name or reputation of, the other
party, University or any of its personnel. Both parties further agree that they will not in any way solicit any such statements,
comments, or communications. This non-disparagement covenant applies to any public or private statements, comments, or communications
in any form, whether oral, non-verbal, written, or electronic. Notwithstanding the forgoing, each party may disclose information
to its attorneys or in response to a lawful subpoena or court order requiring disclosure of information.

 

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Section 10.5Compliance with Applicable
Law.
Licensee shall comply with all applicable laws, rules, and regulations in connection with this Agreement.

 

Article
XI

REPRESENTATIONS AND WARRANTIES

 

Section 11.1By Isoprene.
Isoprene represents and warrants to Licensee as of the Effective Date: 

 

11.1.1 to
the actual knowledge of Isoprene, the Patent Rights are not the subject matter of any currently pending litigation; and

 

11.1.2 to
the actual knowledge of Isoprene, no Person disputes ownership of Patent Rights as described in this Agreement.

 

Section 11.2DISCLAIMER OF WARRANTIES.11.2.1LICENSEE
ACKNOWLEDGES THAT, EXCEPT AS SET FORTH IN Section 11.1, THE INVENTIONS, THE PATENT RIGHTS, LICENSED PRODUCTS, LICENSED MATERIAL,
AND ISOPRENE’S CONFIDENTIAL INFORMATION ARE PROVIDED “AS IS.” LICENSEE ACKNOWLEDGES THAT, EXCEPT AS SET FORTH
IN Section 11.1, ALL EXPRESS OR IMPLIED REPRESENTATIONS OR WARRANTIES REGARDING THE INVENTIONS, THE PATENT RIGHTS, PATENT
APPLICATIONS, LICENSED PRODUCTS, LICENSED MATERIAL, OR ISOPRENE’S CONFIDENTIAL INFORMATION ARE DISCLAIMED BY ISOPRENE, INCLUDING
WITHOUT LIMITATION AS TO: SCOPE, VALIDITY OR ENFORCEABILITY; WHETHER A PATENT APPLICATION WILL BE APPROVED OR THAT A PATENT WILL
ISSUE; RELIABILITY, COMPLETENESS, OR ACCURACY OF UNIVERSITY’S CONFIDENTIAL INFORMATION; INFRINGEMENT OR NON-INFRINGEMENT;
THE PERFORMANCE OF LICENSED PRODUCTS OR LICENSED MATERIAL, INCLUDING WITHOUT LIMITATION AS TO THEIR SAFETY, EFFECTIVENESS, OR COMMERCIAL
VIABILITY; AND THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, COURSE OF DEALING, USAGE OF TRADE,
OR NON-INFRINGEMENT. LICENSEE ACKNOWLEDGES THAT ISOPRENE MADE NO INVESTIGATION AND MAKES NO REPRESENTATION THAT THE INVENTIONS,
THE PATENT RIGHTS, THE LICENSED PRODUCTS, LICENSED MATERIAL, ISOPRENE’S CONFIDENTIAL INFORMATION, OR THE METHODS USED IN
MAKING OR USING THE LICENSED PRODUCTS OR LICENSED MATERIAL IS OR WILL BE FREE FROM INFRINGEMENT OF PATENTS, COPYRIGHTS, TRADEMARKS,
OR OTHER INTELLECTUAL PROPERTY RIGHTS OF ANY THIRD PARTY.

 

11.2.2 LICENSEE
ACKNOWLEDGES THAT ISOPRENE SHALL NOT BE LIABLE FOR ANY DAMAGES OF ANY NATURE WHATSOEVER RESULTING FROM RECEIPT OR USE BY LICENSEE
OF ISOPRENE’S CONFIDENTIAL INFORMATION OR IN CONNECTION WITH ANY CLAIM BY LICENSEE OR A THIRD PARTY AGAINST ISOPRENE. ANY
ACTIONS TAKEN BY LICENSEE IN RESPONSE TO THE DISCLOSURE OF ISOPRENE’S CONFIDENTIAL INFORMATION SHALL BE SOLELY AT THE RISK
OF LICENSEE.

 

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Section 11.3By the Parties.
Each party represents and warrants to the other party as of the Effective Date that: 

 

11.3.1 it
is a corporation duly organized, validly existing, and in good standing under the laws of its state of incorporation. It has all
requisite corporate power and authority to own, operate, and lease its properties, to carry on its business as now being conducted
and as contemplated by this Agreement, to enter into this Agreement, and to carry out the transactions contemplated under this
Agreement;

 

11.3.2 the
execution, delivery and performance of this Agreement and the transactions contemplated under this Agreement have been duly approved;
this Agreement has been properly executed and attested by the duly authorized officer(s) of such party; and this Agreement is the
valid and binding obligation of that party and is enforceable in accordance with its terms, except as the enforceability may be
limited by applicable bankruptcy, reorganization, insolvency, and similar laws affecting the rights of creditors generally, and
general principles of equity;

 

11.3.3 the
execution, delivery, and performance of this Agreement do not violate the terms of such party’s organizational documents,
any agreement to which such party (or, to its knowledge, any of its Personnel) is a party, or any order, judgment, or decree applicable
to it (or, to its knowledge, any of its Personnel);

 

11.3.4 no
consent, approval, or authorization of or designation, declaration, or filing with any governmental authority or other Person is
required on the part of such party in connection with the execution, delivery, or performance of this Agreement, except as specifically
set forth in this Agreement;

 

11.3.5 such
party (and to its knowledge, any of its Personnel) is not a party to any agreement or instrument or subject to any charter or other
corporate restriction or any judgment, order, writ, injunction, or, to its knowledge, any rule or regulation which materially adversely
affects the operations, prospects, properties, assets, or condition (financial or otherwise) of such party;

 

11.3.6 no
suit, action, litigation, administrative proceeding, arbitration proceeding, governmental proceeding, investigation, inquiry, or
other proceeding is pending or, to such party’s knowledge, threatened against it (or, to its knowledge, any of its personnel)
which would materially adversely affect the operations, prospects, properties, assets, or condition (financial or otherwise) of
such party;

 

11.3.7 such
party has not received, and does not have reason to believe that it shall receive, oral or written notice of any claim or violation
under any inquiry law, ordinance, requirement, regulation, or order as it relates to its performance under this Agreement; and

 

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11.3.8 to
such party’s knowledge, it has substantially complied with all federal, state, and local laws, rules, regulations, and administrative
directives where the failure to do so has, or would be reasonably expected to have, a materially adversely effect upon the conduct
and operation of its business.

 

Article
XII

INSURANCE and INDEMNIFICATION 

 

Section 12.1Licensee’s Insurance.

 

12.1.1 When
Licensee commences research, contract, preclinical, or development activities and/or acquires laboratory or office space, Licensee
shall procure and thereafter maintain during the Term insurance that is reasonably sufficient to fulfill its obligations under
this Agreement for itself, Licensee Affiliates, and their personnel, including without limitation the following:

 

(a) Commercial
General Liability insurance with coverage of not less than $1,000,000 for any single occurrence and $3,000,000 in the aggregate;

 

(b) Umbrella
coverage that is reasonably sufficient to fulfill Licensee’s obligations under this Agreement, but not less than $5,000,000
in the aggregate;

 

(c) During
any period that the one or more Clinical Trials is being conducted by or on behalf of Licensee: Clinical trial insurance (or professional
liability insurance/errors and omissions) that is reasonably sufficient to fulfill Licensee’s obligations under this Agreement,
but not less than $1,000,000 for any single occurrence and $3,000,000 in the aggregate; and

 

(d) Upon
commencing testing or sales of Licensed Products, product liability insurance that is reasonably sufficient to fulfill Licensee’s
obligations under this Agreement, but not less than $1,000,000 for any single occurrence and $2,000,000 in the aggregate.

 

12.1.2 All
of such insurance shall have reasonable deductibles. Beginning on the third (3rd) anniversary of the Effective Date
of this Agreement, and every three (3) years thereafter, Isoprene may require that the types or the amount of the insurance to
be maintained on behalf of Licensee under this Section 12.1 be modified so that Isoprene and University’s interests
are adequately protected (as determined in Isoprene’s reasonable discretion). However, unless Licensee otherwise agrees:
(a) Isoprene may not require that the amount of such insurance be increased to an amount equal to more than the then current amounts
plus five percent (5%); and (b) any such increase shall be required to be effected only upon the expected renewal date of the relevant
policy. Isoprene may modify or waive any of the requirements in this Section 12.1 in its reasonable discretion.

 

12.1.3 Licensee
will deposit with Isoprene copies of such policies, satisfactory in form and substance to Isoprene: (a) upon issuance of the policy;
(b) each time there is a material change in Isoprene’s insurance coverage; and (c) each time Isoprene’s insurance coverage
is renewed. Failure to deposit those policies shall not relieve Isoprene of its obligations to obtain and keep in force insurance
coverage required by this Agreement. The insurance required under this Agreement may be maintained by means of a policy or policies
of blanket insurance so long as the provisions of this Agreement are fully satisfied.

 

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12.1.4 All
policies of insurance required to be carried by Licensee by this Section 12.1 shall provide that the policy shall not be
subject to cancellation, termination, or reduction in coverage, except after thirty (30) days’ prior written notice to Isoprene
and University. All of those policies shall name Isoprene and University as an additional insured as its interest may appear. All
policies shall be endorsed to indicate that they provide primary coverage without right of contribution by any insurance carrier
or self-insured by the Isoprene and University. A waiver of subrogation in favor of the Indemnitees shall also be endorsed to the
policies. 

 

12.1.5 All
such policies shall be issued by duly licensed companies having claims paying ability and financial strength ratings from S&P
of not less than “A” and a financial size category rating from A.M. Best of not less than “X”, or their
then equivalents, and have sufficient surplus that the amount of coverage does not represent more than ten percent (10%) of the
policyholders’ surplus.

 

12.1.6 If
Licensee’s liability insurance is written on a claims-made basis (rather than on an occurrence basis), Licensee shall maintain
such insurance coverage during the term of this Agreement and for five (5) years thereafter.

 

Section 12.2Indemnification.

 

12.2.1 Indemnification
by Licensee. Licensee agrees to defend, indemnify, and hold harmless Isoprene, its affiliates and their respective directors,
officers, employees and agents and the successors and assigns of any of the foregoing, and the State of Maryland, USM, University,
University Related Organizations, and each of their respective current and future regents, directors, trustees, officers, faculty,
medical and professional staff, employees, students, trainees, and agents, and their respective successors, heirs, and assigns
(each individually an “Isoprene Indemnitee” and all, collectively “Isoprene Indemnitees”)
against any claim, liability, cost, damage, deficiency, loss, expense or obligation of any kind or nature (including without limitation
reasonable attorneys’ fees, expert witness fees, court costs and other costs and expenses of litigation at trial and appellate
levels) (collectively, “Losses”) incurred by or imposed upon any Isoprene Indemnitee in connection with any
third party claims, suits, actions, demands or other causes of action (collectively, “Claims”) arising out of
or relating to:

 

(a) the
actions or omissions, failure to comply with applicable laws or regulations, or non-performance or breach of this Agreement of
or by Licensee (or any Licensee Affiliate; Licensee Personnel; Sublicensee; or any other Person acting on behalf of or under authorization
from Licensee, a Licensee Affiliate, or a Sublicensee);

 

(b) the
Inventions, or Patent Rights by Licensee (or any Licensee Affiliate; Licensee Personnel; Sublicensee; or any other Person acting
on behalf of or under authorization from Licensee, a Licensee Affiliate, or a Sublicensee);

 

(c) any
claim that any Licensed Product, or use thereof, infringes upon the intellectual property rights of any third party;

 

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(d) any
theory of product liability (including without limitation actions in the form of tort, warranty, or strict liability) concerning
any Licensed Product or any other product, process or service made, used, or sold pursuant to any right or license granted under
this Agreement; or

 

(e) use
by an Indemnitee of a product, process, service, or protocol developed using Patent Rights by Licensee (or any Licensee Affiliate;
Licensee Personnel; Sublicensee; or any other Person acting on behalf of or under authorization from Licensee, a Licensee Affiliate,
or a Sublicensee), provided the use was consistent with any instructions, protocols, or supervision provided or approved by Licensee,
the Licensee Affiliate, or the Sublicensee,

 

except to the extent any such Claims result
from or arise out of the gross negligence or willful misconduct by the Isoprene Indemnitees or any matter for which Isoprene is
required to indemnify the Licensee Indemnitees pursuant to Section 12.2.2.

 

12.2.2 Indemnification
by Isoprene. Isoprene agrees to defend, indemnify, and hold harmless Licensee, Licensee Affiliates and their respective directors,
officers, employees and agents and the successors and assigns of any of the foregoing (each individually a “Licensee Indemnitee”
and all, collectively “Licensee Indemnitees”) against any Losses incurred by or imposed upon any Licensee Indemnitee
in connection with any Claims arising out of or relating to:

 

(a) any
material breach of any of the representations, warranties or covenants of Isoprene under this Agreement; or

 

(b) the
gross negligence or willful misconduct of Isoprene, its affiliates and their respective directors, officers or employees and agents,

 

except to the extent any such Claims result
from or arise out of the gross negligence or willful misconduct by the Licensee Indemnitees or any matter for which Licensee is
required to indemnify the Isoprene Indemnitees pursuant to Section 12.2.1.

 

12.2.3 Indemnification
Procedure. The agreement to defend, indemnify and hold harmless an indemnitee pursuant to Section 12.2.1 or Section
12.2.2 is conditioned upon: (a) an party seeing indemnification (each, an “Indemnitee”) promptly notifying
the other party (the “Indemnitor”) in writing after the Indemnitee receives notice of any claim; provided,
however, the failure to so notify the Indemnitor will not relieve the Indemnitor of any obligation which it may have to an
Indemnitee under this Agreement or otherwise to the extent that such failure or delay does not actually and materially prejudice
the Indemnitor; and (b) the Indemnitee cooperating with the Indemnitor in the defense of the claim (but at the Indemnitor’s
expense). The agreement to defend, indemnify, and hold harmless an Indemnitee shall not apply if the claim, cost, or liability
was solely caused by the gross negligence, willful misconduct, or breach of this Agreement of or by that Indemnitee. Notwithstanding
the foregoing, each Indemnitee shall have the right to participate at its own expense in the defense of any claims through counsel
of its own choosing. The Indemnitor shall not settle any indemnified claim without the prior written consent of, which consent
shall not be unreasonably withheld.

 

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Section 12.3Limitation on Liability.
EXCEPT WITH RESPECT TO (A) A PARTY’S OBLIGATIONS UNDER Section 12.2 (INDEMNIFICATION), (B) ANY BREACH BY A PARTY OF
Article VI OR (C) A PARTY’S GROSS NEGLIGENCE, FRAUD OR WILLFUL MISCONDUCT, NEITHER PARTY WILL BE LIABLE FOR ANY LOST
PROFITS, COSTS OF PROCURING SUBSTITUTE GOODS OR SERVICES, LOST BUSINESS, ENHANCED DAMAGES FOR INTELLECTUAL PROPERTY INFRINGEMENT
OR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR OTHER SPECIAL DAMAGES SUFFERED BY THE OTHER PARTY OR ITS SUBLICENSEES OR
AFFILIATES ARISING OUT OF OR RELATED TO THIS AGREEMENT.

 

Article
XIII

DISPUTE RESOLUTION

 

Section 13.1Negotiation.
If there is a dispute between the parties related to this Agreement, either party, by notice to the other party, may have the dispute
referred to the parties’ respective officers, or their successors, as set forth on Schedule G (the “Designated
Officers”), for attempted resolution by good faith negotiations within thirty (30) days after the notice is received.

 

Section 13.2Mediation.
If the Designated Officers are not able to resolve the dispute within this thirty (30) day period, or any agreed extension, they
shall confer in good faith with respect to the possibility of resolving the matter through mediation with a mutually acceptable
third party or a nationally recognized U.S. mediation organization. If the parties agree to attempt to resolve the matter through
mediation, they shall participate in any mediation sessions in good faith in an effort to resolve the dispute in an informal and
inexpensive manner. All expenses of the mediator shall be shared equally by the parties. 

 

Section 13.3Disputes Regarding Payment
Calculation or Royalty Rate.
Any dispute regarding the calculation of payments due from Licensee to Isoprene, which is not timely resolved through the dispute
resolution procedures of Section 13.1 and Section 13.2, shall be submitted to a national independent certified public
accounting firm or other independent expert, to be appointed by agreement of Licensee and Isoprene, whose decision shall be final
and binding upon the parties. The costs and expenses of the consultant shall be paid by the non-prevailing party.

 

Section 13.4Statute of Limitations;
Admissibility of Evidence. Any applicable statute of limitations shall
be tolled during the pendency of a dispute resolution procedure initiated under this Agreement. Evidence of anything said or any
admission made in the course of any dispute resolution procedure shall not be admissible in evidence in any civil action between
the parties. In addition, no document prepared for the purpose of, or in the course of, or pursuant to, the dispute resolution
procedure, or copy thereof, shall be admissible in evidence in any civil action between the parties. However, the admissibility
of evidence shall not be limited if both parties consent to disclosure of the evidence.

 

Section 13.5Jurisdiction; Waiver
of Trial by Jury.
With respect to any dispute that is not resolved pursuant to other provisions of this Article XIII, each party consents
to the jurisdiction of the Circuit Court of Baltimore City or Anne Arundel County, Maryland for any suit against the other party
relating to this Agreement, and agrees to file any such suit in one of those courts. ISOPRENE AND LICENSEE WAIVE THEIR RIGHTS TO
TRIAL BY JURY IN ANY LITIGATION ARISING FROM THIS AGREEMENT.

 

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Article
XIV

NOTICES AND INVOICES

 

Section 14.1Notices.
Notices under this Agreement shall be in writing and shall be delivered personally as proven by a signed receipt, sent by a reputable,
recognized national overnight delivery service, charges prepaid, or sent by certified mail return receipt requested. Notices shall
be addressed to a party at the address specified on Schedule I, or at those other place or places as shall from time to
time be specified in a notice similarly given. All notices shall be effective upon receipt. Each party shall promptly notify the
other party of any change of address for the delivery of notices or invoices.

 

Section 14.2Invoices.
Invoices under this Agreement may be sent to the addresses specified on Schedule I or at those other place or places as
shall from time to time be specified in a notice similarly given.

 

Article
XV

assignment

 

Section 15.1General.
This Agreement shall be binding upon and inure to the benefit of the parties and their respective legal representatives, successors,
and permitted assigns. Any reference in this Agreement to a party shall be construed to include that party’s successors and
permitted assigns. Any purported assignment in violation of this Article XV shall be null and void.

 

Section 15.2Assignment by Licensee.
This Agreement (or any rights or obligations under this Agreement) may not be assigned or transferred (by operation of law, in
connection with a Change of Control or otherwise) by Licensee without the prior written consent of Isoprene, which consent shall
not be unreasonably withheld, conditioned or delayed. For clarity, a Change of Control (no matter how the transaction is structured)
constitutes an assignment or transfer. In the event of a permitted assignment or transfer, any permitted assignee will expressly
assume, in writing, all obligations imposed on the assigning Party by this Agreement. 

 

Section 15.3Assignment by IsopreneSection
15.4. This Agreement (or any rights or obligations under this Agreement) may not be assigned or transferred by Isoprene without
the prior written consent of Licensee, which consent shall not be unreasonably withheld, conditioned or delayed; provided, that
Isoprene may assign or otherwise transfer this Agreement without the prior written consent of Licensee to an affiliate or in connection
with the transfer of all or substantially all of the stock, assets or business of Isoprene to which this Agreement relates (including
a Change of Control). 

 

Article
XVI

MISCELLANEOUS

 

Section 16.1Governing Law.
This Agreement shall be governed by and construed in accordance with the laws of the State of Maryland (without reference to any
conflicts of laws principles that would require the application of the laws of any other jurisdiction). 

 

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Section 16.2Entire Agreement.
This Agreement embodies the entire understanding between the parties with respect to the subject matter of this Agreement. There
are no contracts, understandings, conditions, warranties or representations, oral or written, express or implied, with reference
to the subject matter of this Agreement that are not merged in this Agreement. No oral statements or prior written material not
specifically incorporated in this Agreement shall be of any force and effect. The parties acknowledge that in entering into this
Agreement, the parties relied solely upon the representations and agreements contained in this Agreement and no others. All prior
representations or agreements with respect to the subject matter of this Agreement, whether written or oral, not incorporated in
this Agreement are superseded.

 

Section 16.3Severability.
If any clause or provision of this Agreement shall be determined by any court or governmental body to be illegal, invalid, or unenforceable
under present or future laws effective during the Term: (a) the remainder of this Agreement shall not be affected by such illegality,
invalidity, or unenforceability; and (b) in lieu of each clause or provision that is illegal, invalid, or unenforceable, there
shall be added as a part of this Agreement a clause or provision as similar in terms to such illegal, invalid, or unenforceable
clause or provision as may be possible and be legal, valid and enforceable.

 

Section 16.4Force Majeure.
Neither party shall be liable for any failure to perform its obligations where that failure is as a result of any of the following
occurrences, if beyond the reasonable control and without the fault or negligence of the party in question: (a) strike, lock-out
or other labor troubles, (b) city, county, State or other governmental restrictions, injunctions or limitations, including the
nonissuance of any required permit(s), (c) failure or shortage of raw materials, electrical power, water, fuel, oil, or other utility
or service, (d) riot, war, insurrection, terrorism, or other national or local emergency, (e) accident, flood, fire, earthquake,
or other casualty, (f) adverse weather conditions, or (g) other act of God. Any party asserting force majeure as an excuse shall
have the burden of proving that reasonable steps were taken to minimize delay or damages caused by foreseeable events, that all
non-excused obligations were substantially fulfilled, and that the other party was timely notified of the likelihood or actual
occurrence that would justify such an assertion.

 

Section 16.5Amendments; Waivers;
Cumulative Remedies. This Agreement may not be amended unless the
amendment is in writing and signed by a duly authorized representative of each party. No right or remedy of either party may be
waived, unless the waiver is in writing and signed by a duly authorized representative of the party granting the waiver. A failure
or delay by a party in exercising any of its rights or remedies under this Agreement does not constitute a waiver of the rights
or remedies, nor does any single or partial exercise of any right or remedy preclude any other or further exercise thereof or the
exercise of any other right or remedy. The rights and remedies of the parties provided in this Agreement are cumulative and not
exclusive of any rights or remedies provided by law.

 

Section 16.6Relationship Between
the Parties. Isoprene and Licensee are not (and nothing in this Agreement
may be construed to constitute them as) partners, joint venturers, agents, representatives or employees of the other. Neither party
has any responsibility nor liability for the actions of the other party except as specifically provided in this Agreement. No party
has any right or authority to bind or obligate the other party in any manner or make any representation or warranty on behalf of
the other party. 

 

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Section 16.7Expenses.
Except as otherwise specifically set forth in this Agreement, all costs and expenses incurred in connection with this Agreement
shall be paid by the party which incurs the cost or expense, and the other party has no liability for the cost or expense.

 

Section 16.8No Third Party Beneficiaries.
Except with respect to University, which is an intended third party beneficiary of this Agreement, this Agreement is not intended
to create, and does not create, enforceable legal rights for any third party as a third party beneficiary or through any other
legal theory, except as otherwise provided by Section 12.2 (Indemnification by Licensee).

 

Section 16.9Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be an original, and all of which shall together
constitute one agreement. This Agreement may be signed and delivered, or a signature may be transmitted or communicated, by means
of electronic transmission (such as a Portable Document Format (PDF) copy of an original signature). In that event, this Agreement
shall be treated for all purposes as an original agreement, and shall be considered to have the same binding legal effect as if
it were the original signed version delivered in person.

 

Section 16.10Interpretation.
Each party to this Agreement participated in the drafting of this Agreement. Each party was represented by counsel, or had the
opportunity to be represented by counsel. Therefore, no party shall be considered to be the “draftsman,” and ambiguities
shall not be construed against any particular party. The section and subsection headings have been included for convenience only,
are not part of this Agreement, and shall not be taken as an interpretation thereof. The singular includes the plural and the plural
includes the singular. The use of any gender, tense, or conjugation includes all genders, tenses, and conjugations. The words “including,”
“inclusive,” or words of similar import shall be construed to mean “including without limitation,” unless
the context clearly indicates otherwise. References to “writing” or “written” include printing, typing,
lithography, and other means of reproduction in a visible form. References to agreements and other contractual instruments include
all subsequent amendments thereto or changes entered into in accordance with their respective terms and which are not prohibited
by this Agreement. References to “days” shall mean calendar days, unless the context clearly indicates that it should
be construed to mean “Business Days.” All Schedules and Exhibits attached to this Agreement are hereby incorporated
in this Agreement.

 

Section 16.11Further Assurances.
The parties shall execute and deliver and cause to be executed and delivered further agreements, instruments, and documents and
shall take further actions as may reasonably be required or appropriate to carry out the terms and conditions of this Agreement.

 

[SIGNATURES ON FOLLOWING PAGE]

 

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	SIGNATURE PAGE TO SUBLICENSE AGREEMENT

 

IN
WITNESS WHEREOF, each party has caused this Sublicense Agreement to be executed under seal by its duly authorized representative.

 

	 	HOTH THERAPEUTICS, INC.
	 	 
	 	By:	/s/ Robb Knie
	 	Name:	Robb Knie
	 	Title:	CEO
	 	Date: 	July 30, 2020

 

	 	ISOPRENE PHARMACEUTICALS, INC.
	 	 
	 	By:	/s/ Vincent C.O. Njar
	 	Name:	Vincent C.O. Njar
	 	Title:	President
	 	Date:	July 30, 2020

 

    33

     

    

 

SCHEDULE A

Inventions

 

 

 

The “Inventions” are
as follows:

 

	UMB Docket #	 	Name of Invention	 	University Inventors
	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]

 

Inventions [*] and [*] were made with U.S.
government support under National Institutes of Health Grant No. [*] and [*] and Department of Defense Grant No. [*]. Invention
[*] was made with U.S. government support under National Institutes of Health Grant No. [*].

 

    

     

    

 

SCHEDULE B

Patent
Rights

 

 

 

[*]

 

 

 

[*]

 

 

 

[*]

 

    

     

    

 

SCHEDULE C

Licensed
Materials

 

 

 

 

“Licensed Material”:
[*]

 

    

     

    

 

SCHEDULE
D

Field
and Territory

 

 

 

“Field”:
topical uses for the treatment of dermatological conditions or diseases, but excluding any oncology conditions or diseases, including
dermatological oncology conditions or diseases.

 

“Territory”:
Worldwide.

 

    

     

    

 

SCHEDULE E

Consideration
and Diligence Milestones

 

 

 

“License Fee”:
$[*] payable in cash.

 

“Royalty Rate”:
[*]%

 

“Milestone
Payments”

 

	Milestone Event	 	Milestone
    Payment	 
	Upon dosing of the first patient in a Clinical Trial for a Licensed Product:	 	$	[*]	 
	Upon receipt of approval of the FDA (or foreign equivalent) for the marketing of the first Licensed Product:	 	$	[*]	 

 

“Diligence Milestones”

 

	Diligence Milestone	 	Milestone Due Date
	Preclinical study to examine the efficacy of RAMBA in blocking acne pathogenic gene expression and carcinogenesis in mice	 	12/31/2020
	Confirmation study of 2020 Weil Cornell preclinical	 	12/31/2021
	FDA pre-IND for VNLG152 indications for dermatological use	 	12/31/2022
	Start of Phase 1 for safety	 	12/31/2023
	Phase 2 efficacy	 	12/31/2024

 

    

     

    

 

SCHEDULE F

Payment
Information

 

 

 

If to Isoprene:

 

ACH Payment Information:

 

Bank of America

80 Mountain Road

Glen Burnie, MD 21061

 

Bank Account Number:

ACH Routing Number:

Beneficiary’s Account Name: ISOPRENE
PHARMACEUTICALS INC.

Reference/Notes: Payments and Invoices

 

Wire Transfers or International Payments:

 

Bank of America

80 Mountain Road

Glen Burnie, MD 21061

 

Bank Account Number:

ACH Routing Number:

Beneficiary’s Account Name: ISOPRENE
PHARMACEUTICALS INC.

Reference/Notes: Payments and Invoices

 

If to Licensee:

 

ACH Payment Information:

 

JP Morgan Chase Bank New York, NY

 

Bank Account Number:

ACH Routing Number:

Beneficiary’s Account Name: Hoth Therapeutics
Inc

 

Wire Transfers or International Payments:

 

JP Morgan Chase Bank New York, NY

 

Bank Account Number:

Bank Routing Number:

Beneficiary’s Account Name: Hoth Therapeutics
Inc

 

    

     

    

 

SCHEDULE G

Contact
Information for Payments and Reporting

 

 

 

	Isoprene Contact Information
	Payments:
	Name:	Vincent Njar, Co-Founder and President
	Street Address:	875 Hollins Street, Suite 102D
	City/State/Zip:	Baltimore, MD 21201
	Reports:
	Name:	Rana Quraishi, Chief Business Officer
	Street Address:	875 Hollins Street, Suite 102D
	City/State/Zip:	Baltimore, MD 21201
	Email Address:	rquraishi@umaryland.edu
	Telephone:	646-599-6663

 

	Licensee Contact Information
	Payments:
	Name:	Hayley Springer
	Street Address:	One Rockefeller Plaza Suite 1039
	City/State/Zip:	New York, NY 10020
	Email Address:	hayley@hoththerapeutics.com
	Telephone:	646-756-2997
	Reports:
	Name:	Hayley Springer
	Street Address:	One Rockefeller Plaza Suite 1039
	City/State/Zip:	New York, NY 10020
	Email Address:	hayley@hoththerapeutics.com
	Telephone:	646-756-2997

 

    

     

    

 

SCHEDULE H

Designated
Officers

 

 

 

For Isoprene:   Chief Executive
Officer or President

 

For Licensee:   Chief
Executive Officer 

 

    

     

    

 

SCHEDULE I

Notices
and Invoices

 

 

 

	If to Licensee:	 	If to Isoprene:
	
        Hoth Therapeutics, Inc.

        One Rockefeller Plaza Suite 1039

        New York, NY 10020

        Attn: VP of Operations
	 	
        Isoprene Pharmaceuticals, Inc.

        P.O. Box #7

        875 Hollins Street

        Baltimore, Maryland 21201

        Attn: Chief Executive Officer

	 	 	 
	
        Copy (which shall not constitute notice)
        to:

        Sheppard Mullin

        30 Rockefeller Plaza

        New York, NY 10112

        Attn: Richard Friedman
		
        Copy (which shall not constitute notice)
        to:

        Hogan Lovells US LLP

        100 International Drive, Suite 2000

        Baltimore, MD 21202

        Attn: Asher Rubin

 

    

     

    

 

SCHEDULE J

Covered
Product Patent Rights

 

 

 

[*]Exhibit 4.2

    

    

      

      

      CARPARTS.COM, INC.,

      Issuer

      

      

      AND

      

      

      [TRUSTEE],

      Trustee

      

      

      
        
          

      

      

      

      

      

      INDENTURE

      

      

      Dated as of _______, 20__

      

      

      

      

      
        

        

      

      
        

      

      

      Senior Debt Securities

      

      

      
        

      

      

      
        

        

      

      

      

      
        
          

      

      
      Table of Contents

      

      

       

      

      	 	 	
              Page

            
	 	 	 
	
              
                ARTICLE 1

              

            	
              
                DEFINITIONS

              

            	
              
                1

              

            
	 	 	 
	
              
                Section 1.01

              

            	
              
                Definitions of Terms

              

            	
              
                1

              

            
	 	 	 
	
              
                ARTICLE 2

              

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

              

            	
              
                4

              

            
	 	 	 
	
              
                Section 2.01

              

            	
              
                Designation and Terms of Securities

              

            	
              
                4

              

            
	 	 	 
	
              
                Section 2.02

              

            	
              
                Form of Securities and Trustee’s Certificate

              

            	
              
                6

              

            
	 	 	 
	
              
                Section 2.03

              

            	
              
                Denominations: Provisions for Payment

              

            	
              
                6

              

            
	 	 	 
	
              
                Section 2.04

              

            	
              
                Execution and Authentications

              

            	
              
                7

              

            
	 	 	 
	
              
                Section 2.05

              

            	
              
                Registration of Transfer and Exchange

              

            	
              
                8

              

            
	 	 	 
	
              
                Section 2.06

              

            	
              
                Temporary Securities

              

            	
              
                9

              

            
	 	 	 
	
              
                Section 2.07

              

            	
              
                Mutilated, Destroyed, Lost or Stolen Securities

              

            	
              
                9

              

            
	 	 	 
	
              
                Section 2.08

              

            	
              
                Cancellation

              

            	
              
                10

              

            
	 	 	 
	
              
                Section 2.09

              

            	
              
                Benefits of Indenture

              

            	
              
                10

              

            
	 	 	 
	
              
                Section 2.10

              

            	
              
                Authenticating Agent

              

            	
              
                10

              

            
	 	 	 
	
              
                Section 2.11

              

            	
              
                Global Securities

              

            	
              
                10

              

            
	 	 	 
	
              
                Section 2.12

              

            	
              
                CUSIP Numbers

              

            	
              
                11

              

            
	 	 	 
	
              
                ARTICLE 3

              

            	
              
                REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS

              

            	
              
                11

              

            
	 	 	 
	
              
                Section 3.01

              

            	
              
                Redemption

              

            	
              
                11

              

            
	 	 	 
	
              
                Section 3.02

              

            	
              
                Notice of Redemption

              

            	
              
                11

              

            
	 	 	 
	
              
                Section 3.03

              

            	
              
                Payment Upon Redemption

              

            	
              
                12

              

            
	 	 	 
	
              
                Section 3.04

              

            	
              
                Sinking Fund

              

            	
              
                13

              

            
	 	 	 
	
              
                Section 3.05

              

            	
              
                Satisfaction of Sinking Fund Payments with Securities

              

            	
              
                13

              

            
	 	 	 
	
              
                Section 3.06

              

            	
              
                Redemption of Securities for Sinking Fund

              

            	
              
                13

              

            
	 	 	 
	
              
                ARTICLE 4

              

            	
              
                COVENANTS

              

            	
              
                13

              

            
	 	 	 
	
              
                Section 4.01

              

            	
              
                Payment of Principal, Premium and Interest

              

            	
              
                13

              

            
	 	 	 
	
              
                Section 4.02

              

            	
              
                Maintenance of Office or Agency

              

            	
              
                13

              

            

      

      

      
        i

        
          

      

      

      

      	
              
                Section 4.03

              

            	
              
                Paying Agents

              

            	
              
                14

              

            
	 	 	 
	
              
                Section 4.04

              

            	
              
                Appointment to Fill Vacancy in Office of Trustee

              

            	
              
                14

              

            
	 	 	 
	
              
                ARTICLE 5

              

            	
              
                SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE

              

            	
              
                15

              

            
	 	 	 
	
              
                Section 5.01

              

            	
              
                Company to Furnish Trustee Names and Addresses of Securityholders

              

            	
              
                15

              

            
	 	 	 
	
              
                Section 5.02

              

            	
              
                Preservation of Information; Communications With Securityholders

              

            	
              
                15

              

            
	 	 	 
	
              
                Section 5.03

              

            	
              
                Reports by the Company

              

            	
              
                15

              

            
	 	 	 
	
              
                Section 5.04

              

            	
              
                Reports by the Trustee

              

            	
              
                16

              

            
	 	 	 
	
              
                ARTICLE 6

              

            	
              
                REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT

              

            	
              
                16

              

            
	 	 	 
	
              
                Section 6.01

              

            	
              
                Events of Default

              

            	
              
                16

              

            
	 	 	 
	
              
                Section 6.02

              

            	
              
                Collection of Indebtedness and Suits for Enforcement by Trustee

              

            	
              
                17

              

            
	 	 	 
	
              
                Section 6.03

              

            	
              
                Application of Moneys Collected

              

            	
              
                18

              

            
	 	 	 
	
              
                Section 6.04

              

            	
              
                Limitation on Suits

              

            	
              
                19

              

            
	 	 	 
	
              
                Section 6.05

              

            	
              
                Rights and Remedies Cumulative; Delay or Omission Not Waiver

              

            	
              
                19

              

            
	 	 	 
	
              
                Section 6.06

              

            	
              
                Control by Securityholders

              

            	
              
                19

              

            
	 	 	 
	
              
                Section 6.07

              

            	
              
                Undertaking to Pay Costs

              

            	
              
                20

                

              

            
	 	 	 
	
              
                ARTICLE 7

              

            	
              
                CONCERNING THE TRUSTEE

              

            	
              
                20

              

            
	 	 	 
	
              
                Section 7.01

              

            	
              
                Certain Duties and Responsibilities of Trustee

              

            	
              
                20

              

            
	 	 	 
	
              
                Section 7.02

              

            	
              
                Certain Rights of Trustee

              

            	
              
                21

              

            
	 	 	 
	
              
                Section 7.03

              

            	
              
                Trustee Not Responsible for Recitals or Issuance or Securities

              

            	
              
                22

              

            
	 	 	 
	
              
                Section 7.04

              

            	
              
                May Hold Securities

              

            	
              
                23

              

            
	 	 	 
	
              
                Section 7.05

              

            	
              
                Moneys Held in Trust

              

            	
              
                23

              

            
	 	 	 
	
              
                Section 7.06

              

            	
              
                Compensation and Reimbursement

              

            	
              
                23

              

            
	 	 	 
	
              
                Section 7.07

              

            	
              
                Reliance on Officer’s Certificate

              

            	
              
                24

              

            
	 	 	 
	
              
                Section 7.08

              

            	
              
                Disqualification; Conflicting Interests

              

            	
              
                24

              

            
	 	 	 
	
              
                Section 7.09

              

            	
              
                Corporate Trustee Required; Eligibility

              

            	
              
                24

              

            
	 	 	 
	
              
                Section 7.10

              

            	
              
                Resignation and Removal; Appointment of Successor

              

            	
              
                24

              

            
	 	 	 
	
              
                Section 7.11

              

            	
              
                Acceptance of Appointment By Successor

              

            	
              
                25

              

            
	 	 	 

      

      

      

      

      
        ii

        
          

      

      

      

      	
              
                Section 7.12

              

            	
              
                Merger, Conversion, Consolidation or Succession to Business

              

            	
              
                26

              

            
	 	 	 
	
              
                Section 7.13

              

            	
              
                Preferential Collection of Claims Against the Company

              

            	
              
                26

              

            
	 	 	 
	
              
                Section 7.14

              

            	
              
                Notice of Default.

              

            	
              
                26

              

            
	 	 	 
	
              
                ARTICLE 8

              

            	
              
                CONCERNING THE SECURITYHOLDERS

              

            	
              
                26

              

            
	 	 	 
	
              
                Section 8.01

              

            	
              
                Evidence of Action by Securityholders

              

            	
              
                26

              

            
	 	 	 
	
              
                Section 8.02

              

            	
              
                Proof of Execution by Securityholders

              

            	
              
                27

              

            
	 	 	 
	
              
                Section 8.03

              

            	
              
                Who May be Deemed Owners

              

            	
              
                27

              

            
	 	 	 
	
              
                Section 8.04

              

            	
              
                Certain Securities Owned by Company Disregarded

              

            	
              
                27

              

            
	 	 	 
	
              
                Section 8.05

              

            	
              
                Actions Binding on Future Securityholders

              

            	
              
                28

              

            
	 	 	 
	
              
                ARTICLE 9

              

            	
              
                SUPPLEMENTAL INDENTURES

              

            	
              
                28

              

            
	 	 	 
	
              
                Section 9.01

              

            	
              
                Supplemental Indentures Without the Consent of Securityholders

              

            	
              
                28

              

            
	 	 	 
	
              
                Section 9.02

              

            	
              
                Supplemental Indentures With Consent of Securityholders

              

            	
              
                29

              

            
	 	 	 
	
              
                Section 9.03

              

            	
              
                Effect of Supplemental Indentures

              

            	
              
                29

              

            
	 	 	 
	
              
                Section 9.04

              

            	
              
                Securities Affected by Supplemental Indentures

              

            	
              
                29

                

              

            
	 	 	 
	
              
                Section 9.05

              

            	
              
                Execution of Supplemental Indentures

              

            	
              
                29

                

              

            
	 	 	 
	
              
                ARTICLE 10

              

            	
              
                SUCCESSOR ENTITY

              

            	
              
                30

              

            
	 	 	 
	
              
                Section 10.01

              

            	
              
                Company May Consolidate, Etc.

              

            	
              
                30

              

            
	 	 	 
	
              
                Section 10.02

              

            	
              
                Successor Entity Substituted

              

            	
              
                30

              

            
	 	 	 
	
              
                ARTICLE 11

              

            	
              
                SATISFACTION AND DISCHARGE

              

            	
              
                31

              

            
	 	 	 
	
              
                Section 11.01

              

            	
              
                Satisfaction and Discharge of Indenture

              

            	
              
                31

              

            
	 	 	 
	
              
                Section 11.02

              

            	
              
                Discharge of Obligations

              

            	
              
                31

              

            
	 	 	 
	
              
                Section 11.03

              

            	
              
                Deposited Moneys to be Held in Trust

              

            	
              
                31

              

            
	 	 	 
	
              
                Section 11.04

              

            	
              
                Payment of Moneys Held by Paying Agents

              

            	
              
                31

              

            
	 	 	 
	
              
                Section 11.05

              

            	
              
                Repayment to Company

              

            	
              
                32

              

            
	 	 	 
	
              
                ARTICLE 12

              

            	
              
                IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

              

            	
              
                32

              

            
	 	 	 
	
              
                Section 12.01

              

            	
              
                No Recourse

              

            	
              
                32

              

            
	 	 	 
	
              
                ARTICLE 13

              

            	
              
                MISCELLANEOUS PROVISIONS

              

            	
              
                32

              

            
	 	 	 
	
              
                Section 13.01

              

            	
              
                Effect on Successors and Assigns

              

            	
              
                32

              

            
	 	 	 
	
              
                Section 13.02

              

            	
              
                Actions by Successor

              

            	
              
                32

              

            

      

      

      

      

      
        iii

        
          

      

      

      

      	
              
                Section 13.03

              

            	
              
                Surrender of Company Powers

              

            	
              
                32

              

            
	 	 	 
	
              
                Section 13.04

              

            	
              
                Notices

              

            	
              
                33

              

            
	 	 	 
	
              
                Section 13.05

              

            	
              
                Governing Law; Jury Trial Waiver

              

            	
              
                33

              

            
	 	 	 
	
              
                Section 13.06

              

            	
              
                Treatment of Securities as Debt

              

            	
              
                33

              

            
	 	 	 
	
              
                Section 13.07

              

            	
              
                Certificates and Opinions as to Conditions Precedent

              

            	
              
                33

              

            
	 	 	 
	
              
                Section 13.08

              

            	
              
                Payments on Business Days

              

            	
              
                33

              

            
	 	 	 
	
              
                Section 13.09

              

            	
              
                Conflict with Trust Indenture Act

              

            	
              
                33

              

            
	 	 	 
	
              
                Section 13.10

              

            	
              
                Counterparts

              

            	
              
                34

              

            
	 	 	 
	
              
                Section 13.11

              

            	
              
                Separability

              

            	
              
                34

              

            
	 	 	 
	
              
                Section 13.12

              

            	
              
                Compliance Certificates

              

            	
              
                34

              

            
	 	 	 
	
              
                Section 13.13

              

            	
              
                U.S.A Patriot Act

              

            	
              
                34

              

            
	 	 	 
	
              
                Section 13.14

              

            	
              
                Force Majeure

              

            	
              
                34

              

            
	 	 	 
	
              
                Section 13.15

              

            	
              
                Table of Contents; Headings

              

            	
              
                34

              

            
	 	 	 

      

      

      

      

      
        iv

        
          

      

      
      
        INDENTURE

        

        

        Indenture, dated as of _______, 20__, among CarParts.com, Inc., a Delaware corporation (the “Company”), and [Trustee], as trustee (the “Trustee”):

      

      

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

      

      

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

      

      

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

      

      

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

      

      

      ARTICLE 1

      

      

      DEFINITIONS

      

      

      Section 1.01         Definitions of Terms.

      

      

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

      

      

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

      

      

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

      

      

      “Board of Directors” means the Board of Directors (or the functional equivalent thereof) of the Company or any duly authorized committee
        of such Board.

      

      

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

      

      

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

      

      

      “Commission” means the Securities and Exchange Commission, as from time to time constituted, created under the Exchange Act, or, if at
        any time after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time.

      

      

      
        1

        
          

      

      “Company” means CarParts.com, Inc., a corporation duly organized and existing under the laws of the State of Delaware, and, subject to
        the provisions of Article 10, shall also include its successors and assigns.

      

      

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

      

      

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

      

      

      “Defaulted Interest” has the meaning set forth in Section 2.03.

      

      

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

      

      

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

      

      

      “Exchange Act” means the United States Securities and Exchange Act of 1934, as amended, and the rules and regulations promulgated by the
        Commission thereunder.

      

      

      “Global Security” means a Security issued to evidence all or a part of any series of Securities which is executed by the Company and
        authenticated and delivered by the Trustee to the Depositary or pursuant to the Depositary’s instruction, all in accordance with the Indenture, which shall be registered in the name of the Depositary or its nominee.

      

      

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

      

      

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

      

      

      “Indenture” means this instrument as originally executed or as it may from time to time be supplemented or amended by one or more
        indentures supplemental hereto entered into in accordance with the terms hereof and shall include the terms of particular series of Securities established as contemplated by Section 2.01.

      

      

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

      

      

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

      

      

      
        2

        
          

      

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

      

      

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

      

      

      “Outstanding”, when used with reference to Securities of any series, means, subject to the provisions of Section 8.04, as of any
        particular time, all Securities of that series theretofore authenticated and delivered by the Trustee under this Indenture, except (a) Securities theretofore canceled by the Trustee or any paying agent, or delivered to the Trustee or any paying
        agent for cancellation or that have previously been canceled; (b) Securities or portions thereof for the payment or redemption of which moneys or Governmental Obligations in the necessary amount shall have been deposited in trust with the Trustee
        or with any paying agent (other than the Company) or shall have been set aside and segregated in trust by the Company (if the Company shall act as its own paying agent); provided, however, that if such Securities or portions of such Securities are
        to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article 3, or provision satisfactory to the Trustee shall have been made for giving such notice; and (c) Securities in lieu of or in
        substitution for which other Securities shall have been authenticated and delivered pursuant to the terms of Section 2.07.

      

      

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

      

      

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

      

      

      “Responsible Officer” when used with respect to the Trustee means any officer within the Corporate Trust Office of the Trustee (or any
        successor group of the Trustee) or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other
        officer to whom such matter is referred because of his or her knowledge of and familiarity with the particular subject and in each case who shall have direct responsibility for the administration of this Indenture.

      

      

      “Securities” has the meaning stated in the first recital of this Indenture and more particularly means any Securities authenticated and
        delivered under this Indenture.

      

      

      “Securities Act” means the Securities Act of 1933, as amended.

      

      

      “Securityholder”, “holder of Securities”, “registered holder”, or other similar term, means the Person or Persons in whose name or names a particular Security is registered on the Security Register kept for that purpose in accordance with the terms of this
        Indenture.

      

      

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

      

      

      “Subsidiary” means, with respect to any Person, any corporation, association, partnership or other business entity of which more than 50%
        of the total voting power of shares of capital stock or other interests (including partnership interests) entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers, general partners or trustees
        thereof is at the time owned or controlled, directly or indirectly, by (i) such Person; (ii) such Person and one or more Subsidiaries of such Person; or (iii) one or more Subsidiaries of such Person.

      

      

      “Trustee” means _________________________, and, subject to the provisions of Article 7, shall also include its successors and assigns,
        and, if at any time there is more than one Person acting in such capacity hereunder, “Trustee” shall mean each such Person. The term “Trustee” as used with respect to a particular series of the Securities shall mean the trustee with respect to that
        series.

      

      

      
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      “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended.

      

      

      “U.S.A. Patriot Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct
        Terrorism Act of 2001, Pub. L. 107-56, as amended and signed into law October 26, 2001.

      

      

      ARTICLE 2

      

      

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

      

      

      Section 2.01        Designation and Terms of Securities.

      

      

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

      

      

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

      

      

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

      

      

      (3)         the maturity date or dates on which the principal of the Securities of the series is payable;

      

      

      (4)         the form of the Securities of the series including the form of the certificate of authentication for such series;

      

      

      (5)         the applicability of any guarantees;

      

      

      (6)         whether or not the Securities will be secured or unsecured, and the terms of any secured debt;

      

      

      (7)         whether the Securities rank as senior debt, senior subordinated debt, or subordinated debt;

      

      

      (8)         if the price (expressed as a percentage of the aggregate principal amount thereof) at which such Securities will be issued is a price other
        than the principal amount thereof, the portion of the principal amount thereof payable upon declaration of acceleration of the maturity thereof, or if applicable, the portion of the principal amount of such Securities that is convertible into
        another security or the method by which any such portion shall be determined;

      

      

      (9)         the interest rate or rates, which may be fixed or variable, or the method for determining the rate and the date interest will begin to accrue,
        the dates interest will be payable and the regular record dates for interest payment dates or the method for determining such dates;

      

      

      (10)        the Company’s right, if any, to defer the payment of interest and the maximum length of any such deferral period;

      

      

      
        4

        
          

      

      (11)        if applicable, the date or dates after which, or the period or periods during which, and the price or prices at which, the Company may at its
        option, redeem the series of Securities pursuant to any optional or provisional redemption provisions and the terms of those redemption provisions;

      

      

      (12)        the date or dates, if any, on which, and the price or prices at which the Company is obligated, pursuant to any mandatory sinking fund,
        mandatory redemption or analogous provisions or otherwise, to repurchase, at the Securityholder’s option, the series of Securities;

      

      

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

      

      

      (14)        any and all terms, if applicable, relating to any auction or remarketing of the Securities of that series and any security for the obligations
        of the Company with respect to such Securities and any other terms which may be advisable in connection with the marketing of Securities of that series;

      

      

      (15)        whether the Securities of the series shall be issued in whole or in part in the form of a Global Security or Securities; the terms and
        conditions, if any, upon which such Global Security or Securities may be exchanged in whole or in part for other individual Securities; and the Depositary for such Global Security or Securities;

      

      

      (16)        if applicable, the provisions relating to conversion or exchange of any Securities of the series and the terms and conditions upon which such
        Securities will be so convertible or exchangeable, including the conversion or exchange price, as applicable, or how it will be calculated and may be adjusted, any mandatory or optional (at the Company’s option or the holders’ option) conversion or
        exchange features, the applicable conversion or exchange period and the manner of settlement for any conversion or exchange, which may, without limitation, include the payment of cash as well as the delivery of securities;

      

      

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

      

      

      (18)        additions to or changes in the covenants applicable to the series of Securities being issued, including, among others, the consolidation,
        merger or sale covenant;

      

      

      (19)        additions to or changes in the Events of Default with respect to the Securities and any change in the right of the Trustee or the
        Securityholders to declare the principal, premium, if any, and interest, if any, with respect to such Securities to be due and payable;

      

      

      (20)        additions to or changes in or deletions of the provisions relating to covenant defeasance and legal defeasance;

      

      

      (21)        additions to or changes in the provisions relating to satisfaction and discharge of this Indenture;

      

      

      (22)        additions to or changes in the provisions relating to the modification of this Indenture both with and without the consent of Securityholders
        of Securities issued under this Indenture;

      

      

      (23)        the currency or currencies, including composite currencies, in which payment of Securities if other than U.S. dollars and the manner of
        determining the equivalent amount in U.S. dollars;

      

      

      (24)        whether interest will be payable in cash or additional Securities at the Company’s or the Securityholders’ option and the terms and conditions
        upon which the election may be made;

      

      

      
        5

        
          

      

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

      

      

      (26)        any restrictions on transfer, sale or assignment of the Securities of the series; and

      

      

      (27)        any other specific terms, preferences, rights or limitations of, or restrictions on, the Securities, any other additions or changes in the
        provisions of this Indenture, and any terms that may be required by us or advisable under applicable laws or regulations.

      

      

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

      

      

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

      

      

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

      

      

      Section 2.02         Form of Securities and Trustee’s Certificate.

      

      

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

      

      

      Section 2.03         Denominations: Provisions for Payment.

      

      

      The Securities shall be issuable as registered Securities and in the denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, subject to Section 2.01(a)(13). The
        Securities of a particular series shall bear interest payable on the dates and at the rate specified with respect to that series. Subject to Section 2.01(a)(23), the principal of and the interest on the Securities of any series, as well as any
        premium thereon in case of redemption or repurchase thereof prior to maturity, and any cash amount due upon conversion or exchange thereof, shall be payable in the coin or currency of the United States of America that at the time is legal tender
        for public and private debt, at the office or agency of the Company maintained for that purpose. Each Security shall be dated the date of its authentication. Interest on the Securities shall be computed on the basis of a 360-day year composed of
        twelve 30-day months.

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

      Section 2.04         Execution and Authentications.

      

      

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

      

      

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

      

      

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

      

      

      
        7

        
          

      

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

      

      

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

      

      

      Section 2.05         Registration of Transfer and Exchange.

      

      

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

      

      

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

      

      

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

      

      

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

      

      

      The Company initially appoints the Trustee as initial Security Registrar for each series of Securities.

      

      

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

      

      

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

      

      

      
        8

        
          

      

      The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to
        any transfer of any interest in any Security (including any transfers between or among depositary participants or beneficial owners of interests in any Global Security) other than to require delivery of such certificates and other documentation or
        evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof.

      

      

      Section 2.06         Temporary Securities.

      

      

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

      

      

      Section 2.07         Mutilated, Destroyed, Lost or Stolen Securities.

      

      

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

      

      

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

      

      

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

      

      

      
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      Section 2.08         Cancellation.

      

      

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

      

      

      Section 2.09         Benefits of Indenture.

      

      

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

      

      

      Section 2.10         Authenticating Agent.

      

      

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

      

      

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

      

      

      Section 2.11        Global Securities.

      

      

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

      

      

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

      

      

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

      

      

      Section 2.12        CUSIP Numbers.

      

      

      The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Holders;
        provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of a redemption and that reliance may be placed only on the other
        elements of identification printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly notify the Trustee of any change in the “CUSIP” numbers.

      

      

      ARTICLE 3

      

      

      REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS

      

      

      Section 3.01        Redemption.

      

      

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

      

      

      Section 3.02        Notice of Redemption.

      

      

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

      

      

      
        11

        
          

      

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

      

      

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

      

      

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

      

      

      Section 3.03        Payment Upon Redemption.

      

      

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

      

      

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

      

      

      
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      Section 3.04        Sinking Fund.

      

      

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

      

      

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

      

      

      Section 3.05        Satisfaction of Sinking Fund Payments with Securities.

      

      

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

      

      

      Section 3.06         Redemption of Securities for Sinking Fund.

      

      

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

      

      

      ARTICLE 4

      

      

      COVENANTS

      

      

      Section 4.01         Payment of Principal, Premium and Interest.

      

      

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

      

      

      Section 4.02         Maintenance of Office or Agency.

      

      

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

      

      

      
        13

        
          

      

      Section 4.03        Paying Agents.

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

      Section 4.04        Appointment to Fill Vacancy in Office of Trustee.

      

      

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

      

      

      
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      ARTICLE 5

      

      

      SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE

      

      

      Section 5.01        Company to Furnish Trustee Names and Addresses of Securityholders.

      

      

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

      

      

      Section 5.02        Preservation of Information; Communications With Securityholders.

      

      

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

      

      

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

      

      

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

      

      

      Section 5.03        Reports by the Company.

      

      

      (a)          The Company will at all times comply with Section 314(a) of the Trust Indenture Act. The Company covenants and agrees to provide (which
        delivery may be via electronic mail) to the Trustee within 30 days, after the Company files the same with the Commission, copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the
        foregoing as the Commission may from time to time by rules and regulations prescribe) that the Company is required to file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; provided, however, the Company shall not be
        required to deliver to the Trustee any correspondence filed with the Commission or any materials for which the Company has sought and received confidential treatment by the Commission; and provided further, that so long as such filings by the
        Company are available on the Commission’s Electronic Data Gathering, Analysis and Retrieval System (EDGAR), or any successor system, such filings shall be deemed to have been filed with the Trustee for purposes hereof without any further action
        required by the Company. For the avoidance of doubt, a failure by the Company to file annual reports, information and other reports with the Commission within the time period prescribed thereof by the Commission shall not be deemed a breach of this
        Section 5.03.

      

      

      (b)          Delivery of reports, information and documents to the Trustee under Section 5.03 is for informational purposes only and the information and the
        Trustee’s receipt of the foregoing shall not constitute constructive notice of any information contained therein, or determinable from information contained therein including the Company’s compliance with any of their covenants thereunder (as to
        which the Trustee is entitled to rely exclusively on an Officer’s Certificate). The Trustee is under no duty to examine any such reports, information or documents delivered to the Trustee or filed with the Commission via EDGAR to ensure compliance
        with the provision of this Indenture or to ascertain the correctness or otherwise of the information or the statements contained therein. The Trustee shall have no responsibility or duty whatsoever to ascertain or determine whether the above
        referenced filings with the Commission on EDGAR (or any successor system) has occurred.

      

      

      
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      Section 5.04        Reports by the Trustee.

      

      

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

      

      

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

      

      

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

      

      

      ARTICLE 6

      

      

      REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT

      

      

      Section 6.01        Events of Default.

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

      
        16

        
          

      

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

      

      

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

      

      

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

      

      

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

      

      

      Section 6.02        Collection of Indebtedness and Suits for Enforcement by Trustee.

      

      

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

      

      

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

      

      

      
        17

        
          

      

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

      

      

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

      

      

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

      

      

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

      

      

      Section 6.03         Application of Moneys Collected.

      

      

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

      

      

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

      

      

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

      

      

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

      

      

      
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      Section 6.04         Limitation on Suits.

      

      

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

      

      

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

      

      

      Section 6.05        Rights and Remedies Cumulative; Delay or Omission Not Waiver.

      

      

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

      

      

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

      

      

      Section 6.06         Control by Securityholders.

      

      

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

      

      

      
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      Section 6.07         Undertaking to Pay Costs.

      

      

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

      

      

      ARTICLE 7

      

      

      CONCERNING THE TRUSTEE

      

      

      Section 7.01        Certain Duties and Responsibilities of Trustee.

      

      

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

      

      

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

      

      

      (i)          prior to the occurrence of an Event of Default with respect to the Securities of a series and after the curing or waiving of all such Events of
        Default with respect to that series that may have occurred:

      

      

      (A)         the duties and obligations of the Trustee shall with respect to the Securities of such series be determined solely by the express provisions of
        this Indenture, and the Trustee shall not be liable with respect to the Securities of such series except for the performance of such duties and obligations as are specifically set forth in this Indenture, and no implied covenants or obligations
        shall be read into this Indenture against the Trustee; and

      

      

      (B)         in the absence of bad faith on the part of the Trustee, the Trustee may with respect to the Securities of such series conclusively rely, as to
        the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions
        that by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture;

      

      

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

      

      

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

      

      

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

      

      

      (v)         The Trustee shall not be required to give any bond or surety in respect of the performance of its powers or duties hereunder;

      

      

      (vi)        The permissive right of the Trustee to do things enumerated in this Indenture shall not be construed as a duty of the Trustee; and

      

      

      (vii)       No Trustee shall have any duty or responsibility for any act or omission of any other Trustee appointed with respect to a series of Securities
        hereunder.

      

      

      Section 7.02        Certain Rights of Trustee.

      

      

      Except as otherwise provided in Section 7.01:

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

      (h)          In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of
        or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and
        interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to
        resume performance as soon as practicable under the circumstances;

      

      

      (i)          In no event shall the Trustee be responsible or liable for special, indirect, punitive or consequential loss or damage of any kind whatsoever
        (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action; and

      

      

      (j)          The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent by unsecured e-mail, facsimile
        transmission or other similar unsecured electronic methods; provided, however, that (a) the party providing such written instructions, subsequent to such transmission of written instructions, shall provide the originally executed instructions or
        directions to the Trustee in a timely manner, and (b) such originally executed instructions or directions shall be signed by an authorized representative of the party providing such instructions or directions. If the party elects to give the
        Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding of such instructions shall be deemed controlling. The
        Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent
        written instruction. The party providing electronic instructions agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee, including without limitation the risk of the Trustee
        acting on unauthorized instructions, and the risk or interception and misuse by third parties. The Trustee may request that the Company deliver an Officer’s Certificate setting forth the names of individuals and/or titles of officers authorized at
        such time to furnish the Trustee with Officer’s Certificates, Company Orders and any other matters or directions pursuant to this Indenture.

      

      

      (k)          The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified,
        are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder.

      

      

      (l)          The Trustee shall not be deemed to have knowledge of any Default or Event of Default (other than an Event of Default relating to the failure to
        pay the interest on, or the principal of, the Securities) until the Trustee shall have received written notification in the manner set forth in this Indenture or a Responsible Officer of the Trustee shall have obtained actual knowledge.

      

      

      Section 7.03        Trustee Not Responsible for Recitals or Issuance or Securities.

      

      

      (a)          The recitals contained herein and in the Securities shall be taken as the statements of the Company, and the Trustee assumes no responsibility
        for the correctness of the same. The Trustee shall not be responsible for any statement in any registration statement, prospectus, or any other document in connection with the sale of Securities. The Trustee shall not be responsible for any rating
        on the Securities or any action or omission of any rating agency.

      

      

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

      

      

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

      

      

      Section 7.04         May Hold Securities.

      

      

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

      

      

      Section 7.05        Moneys Held in Trust.

      

      

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

      

      

      Section 7.06        Compensation and Reimbursement.

      

      

      (a)           The Company shall pay to the Trustee for each of its capacities hereunder from time to time compensation for its services as the Company and
        the Trustee shall from time to time agree upon in writing. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon request for all reasonable
        out-of-pocket expenses incurred by it. Such expenses shall include the reasonable compensation and expenses of the Trustee’s agents and counsel.

      

      

      (b)          The Company shall indemnify each of the Trustee in each of its capacities hereunder against any loss, liability or expense (including the cost
        of defending itself and including the reasonable compensation and expenses of the Trustee’s agents and counsel) incurred by it except as set forth in Section 7.06(c) in the exercise or performance of its powers, rights or duties under this
        Indenture as Trustee or Agent. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. The Company shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have one separate counsel
        and the Company shall pay the reasonable fees and expenses of such counsel. The Company need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld. This indemnification shall apply to officers,
        directors, employees, shareholders and agents of the Trustee.

      

      

      (c)          The Company need not reimburse any expense or indemnify against any loss or liability incurred by the Trustee or by any officer, director,
        employee, shareholder or agent of the Trustee through negligence or bad faith.

      

      

      (d)          To ensure the Company’s payment obligations in this Section, the Trustee shall have a lien prior to the Securities on all funds or property
        held or collected by the Trustee, except that held in trust to pay principal of or interest on particular Securities. When the Trustee incurs expenses or renders services in connection with an Event of Default specified in Section 6.01(4) or (5),
        the expenses (including the reasonable fees and expenses of its counsel) and the compensation for services in connection therewith are to constitute expenses of administration under any bankruptcy law. The provisions of this Section 7.06 shall
        survive the termination of this Indenture and the resignation or removal of the Trustee.

      

      

      
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      Section 7.07        Reliance on Officer’s Certificate.

      

      

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

      

      

      Section 7.08        Disqualification; Conflicting Interests.

      

      

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

      

      

      Section 7.09        Corporate Trustee Required; Eligibility.

      

      

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

      

      

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

      

      

      Section 7.10        Resignation and Removal; Appointment of Successor.

      

      

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

      

      

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

      

      

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

      

      

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

      

      

      (iii)        the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or commence a voluntary bankruptcy proceeding, or
        a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation;

      

      

      
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      then, in any such case, the Company may remove the Trustee with respect to all Securities and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of
        Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or any Securityholder who has been a bona fide holder of a Security or Securities for at least six months may, on behalf of
        that holder and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon after such notice, if any, as it may deem proper and
        prescribe, remove the Trustee and appoint a successor trustee.

      

      

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

      

      

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

      

      

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

      

      

      Section 7.11        Acceptance of Appointment by Successor.

      

      

      (a)          In case of the appointment hereunder of a successor trustee with respect to all Securities, every such successor trustee so appointed shall
        execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor trustee, without any
        further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor trustee, such retiring Trustee shall, upon payment of any amounts due
        to it pursuant to the provisions of Section 7.06, execute and deliver an instrument transferring to such successor trustee all the rights, powers, and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor
        trustee all property and money held by such retiring Trustee hereunder.

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

      Section 7.13        Preferential Collection of Claims Against the Company.

      

      

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

      

      

      Section 7.14        Notice of Default.

      

      

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

      

      

      ARTICLE 8

      

      

      CONCERNING THE SECURITYHOLDERS

      

      

      Section 8.01        Evidence of Action by Securityholders.

      

      

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

      

      

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

      

      

      Section 8.02        Proof of Execution by Securityholders.

      

      

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

      

      

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

      

      

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

      

      

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

      

      

      Section 8.03        Who May be Deemed Owners.

      

      

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

      

      

      Section 8.04        Certain Securities Owned by Company Disregarded.

      

      

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

      

      

      
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      Section 8.05        Actions Binding on Future Securityholders.

      

      

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

      

      

      ARTICLE 9

      

      

      SUPPLEMENTAL INDENTURES

      

      

      Section 9.01        Supplemental Indentures Without the Consent of Securityholders.

      

      

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

      

      

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

      

      

      (b)          to comply with Article 10;

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

      Section 9.02        Supplemental Indentures With Consent of Securityholders.

      

      

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

      

      

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

      

      

      Section 9.03        Effect of Supplemental Indentures.

      

      

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

      

      

      Section 9.04        Securities Affected by Supplemental Indentures.

      

      

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

      

      

      Section 9.05        Execution of Supplemental Indentures.

      

      

      Upon the request of the Company, accompanied by its Board Resolutions authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent
        of Securityholders required to consent thereto as aforesaid, the Trustee shall join with the Company in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under
        this Indenture or otherwise, in which case the Trustee may in its discretion but shall not be obligated to enter into such supplemental indenture. The Trustee, subject to the provisions of Section 7.01, shall receive an Officer’s Certificate or an
        Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant to this Article is authorized or permitted by the terms of this Article and that all conditions precedent to the execution of the supplemental indenture
        have been complied with; provided, however, that such Officer’s Certificate or Opinion of Counsel need not be provided in connection with the execution of a supplemental indenture that establishes the terms of a series of Securities pursuant to
        Section 2.01 hereof.

      

      

      
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      Promptly after the execution by the Company and the Trustee of any supplemental indenture pursuant to the provisions of this Section, the Company shall (or shall direct the Trustee to) transmit by
        mail, first class postage prepaid, a notice, setting forth in general terms the substance of such supplemental indenture, to the Securityholders of all series affected thereby .as their names and addresses appear upon the Security Register. Any
        failure of the Company to mail, or cause the mailing of, such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture.

      

      

      ARTICLE 10

      

      

      SUCCESSOR ENTITY

      

      

      Section 10.01      Company May Consolidate, Etc.

      

      

      Nothing contained in this Indenture shall prevent any consolidation or merger of the Company with or into any other Person (whether or not affiliated with the Company) or successive consolidations
        or mergers in which the Company or its successor or successors shall be a party or parties, or shall prevent any sale, conveyance, transfer or other disposition of the property of the Company or its successor or successors as an entirety, or
        substantially as an entirety, to any other Person (whether or not affiliated with the Company or its successor or successors); provided, however, the Company hereby covenants and agrees that, upon any such consolidation or merger (in each case, if
        the Company is not the survivor of such transaction) or any such sale, conveyance, transfer or other disposition (other than a sale, conveyance, transfer or other disposition to a Subsidiary of the Company), the due and punctual payment of the
        principal of (premium, if any) and interest on all of the Securities of all series in accordance with the terms of each series, according to their tenor, and the due and punctual performance and observance of all the covenants and conditions of
        this Indenture with respect to each series or established with respect to such series pursuant to Section 2.01 to be kept or performed by the Company shall be expressly assumed, by supplemental indenture (which shall conform to the provisions of
        the Trust Indenture Act, as then in effect) reasonably satisfactory in form to the Trustee executed and delivered to the Trustee by the entity formed by such consolidation, or into which the Company shall have been merged, or by the entity which
        shall have acquired such property.

      

      

      Section 10.02      Successor Entity Substituted.

      

      

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

      

      

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

      

      

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

      

      

      
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      ARTICLE 11

      

      

      SATISFACTION AND DISCHARGE

      

      

      Section 11.01      Satisfaction and Discharge of Indenture.

      

      

      If at any time: (a) the Company shall have delivered to the Trustee for cancellation all Securities of a series theretofore authenticated and not delivered to the Trustee for cancellation (other
        than any Securities that shall have been destroyed, lost or stolen and that shall have been replaced or paid as provided in Section 2.07 and Securities for whose payment money or Governmental Obligations have theretofore been deposited in trust or
        segregated and held in trust by the Company and thereupon repaid to the Company or discharged from such trust, as provided in Section 11.05); or (b) all such Securities of a particular series not theretofore delivered to the Trustee for
        cancellation shall have become due and payable, or are by their terms to become due and payable within one year or are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of
        redemption, and the Company shall deposit or cause to be deposited with the Trustee as trust funds the entire amount in moneys or Governmental Obligations or a combination thereof, sufficient in the opinion of a nationally recognized firm of
        independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay at maturity or upon redemption all Securities of that series not theretofore delivered to the Trustee for cancellation, including principal
        (and premium, if any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums payable hereunder with respect to such series by
        the Company then this Indenture shall thereupon cease to be of further effect with respect to such series except for the provisions of Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03, 7.10, 11.05 and 13.04 that shall survive until the date of maturity
        or redemption date, as the case may be, and Sections 7.06 and 11.05, that shall survive to such date and thereafter, and the Trustee, on demand of the Company and at the cost and expense of the Company shall execute proper instruments acknowledging
        satisfaction of and discharging this Indenture with respect to such series.

      

      

      Section 11.02      Discharge of Obligations.

      

      

      If at any time all such Securities of a particular series not heretofore delivered to the Trustee for cancellation or that have not become due and payable as described in Section 11.01 shall have
        been paid by the Company by depositing irrevocably with the Trustee as trust funds moneys or an amount of Governmental Obligations sufficient to pay at maturity or upon redemption all such Securities of that series not theretofore delivered to the
        Trustee for cancellation, including principal (and premium, if any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums
        payable hereunder by the Company with respect to such series, then after the date such moneys or Governmental Obligations, as the case may be, are deposited with the Trustee the obligations of the Company under this Indenture with respect to such
        series shall cease to be of further effect except for the provisions of Sections 2.03, 2.05, 2.07, 4,01, 4.02, 4,03, 7.06, 7.10, 11.05 and 13.04 hereof that shall survive until such Securities shall mature and be paid.

      

      

      Thereafter, Sections 7.06 and 11.05 shall survive.

      

      

      Section 11.03      Deposited Moneys to be Held in Trust.

      

      

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

      

      

      Section 11.04      Payment of Moneys Held by Paying Agents.

      

      

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

      

      

      
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      Section 11.05      Repayment to Company.

      

      

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

      

      

      ARTICLE 12

      

      

      IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

      

      

      Section 12.01      No Recourse.

      

      

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

      

      

      ARTICLE 13

      

      

      MISCELLANEOUS PROVISIONS

      

      

      Section 13.01      Effect on Successors and Assigns.

      

      

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

      

      

      Section 13.02      Actions by Successor.

      

      

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

      

      

      Section 13.03      Surrender of Company Powers.

      

      

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

      

      

      
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      Section 13.04      Notices.

      

      

      Except as otherwise expressly provided herein, any notice, request or demand that by any provision of this Indenture is required or permitted to be given, made or served by the Trustee, the
        Security Registrar, any paying or other agent under this Indenture or by the holders of Securities or by any other Person pursuant to this Indenture to or on the Company may be given or served by being deposited in first class mail, postage
        prepaid, addressed (until another address is filed in writing by the Company with the Trustee), as follows: 2050 W. 190th Street, Torrance, California 90504, Attn: General Counsel. Any notice, election, request or demand by the Company or any
        Securityholder or by any other Person pursuant to this Indenture to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or made in writing at the Corporate Trust Office of the Trustee.

      

      

      Section 13.05      Governing Law; Jury Trial Waiver.

      

      

      This Indenture and each Security, and any claim, controversy or dispute under or related to this Indenture or any Security, shall be governed by and construed in accordance with the laws of the
        State of New York, except to the extent that the Trust Indenture Act is applicable.

      

      

      EACH PARTY HERETO, AND EACH HOLDER OF A SECURITY BY ACCEPTANCE THEREOF, HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY
        LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS INDENTURE.

      

      

      Section 13.06      Treatment of Securities as Debt.

      

      

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

      

      

      Section 13.07      Certificates and Opinions as to Conditions Precedent.

      

      

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

      

      

      (b)          Each certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant
        in this Indenture (other than the certificate to be delivered pursuant to Section 13.12 of this Indenture or Section 314(a)(1) of the Trust Indenture Act) shall include (i) a statement that the Person making such certificate or opinion has read
        such covenant or condition; (ii) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; (iii) a statement that, in the opinion of
        such Person, he has made such examination or investigation as is reasonably necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and (iv) a statement as to whether or not, in
        the opinion of such Person, such condition or covenant has been complied with.

      

      

      Section 13.08      Payments on Business Days.

      

      

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

      

      

      Section 13.09      Conflict with Trust Indenture Act.

      

      

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

      

      

      
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      Section 13.10      Counterparts.

      

      

      This Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one and the same instrument. The exchange of
        copies of this Indenture and of signature pages by facsimile or 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.

      

      

      Section 13.11      Separability.

      

      

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

      

      

      Section 13.12      Compliance Certificates.

      

      

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

      

      

      Section 13.13      U.S.A Patriot Act.

      

      

      The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot Act, the Trustee, like all financial institutions and in order to help fight the funding of terrorism and
        money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account with the Trustee. The parties to this Indenture agree that they will provide the
        Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the U.S.A. Patriot Act.

      

      

      Section 13.14      Force Majeure.

      

      

      In no event shall the Trustee, the Security Registrar, any paying agent or any other agent under this Indenture be responsible or liable for any failure or delay in the performance of its
        obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
        catastrophes or acts of God, and interruptions, loss or malfunctions or utilities, communications or computer (software and hardware) services; it being understood that the Trustee, the Security Registrar, any paying agent or any other agent under
        this Indenture shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.

      

      

      Section 13.15      Table of Contents; Headings.

      

      

      The table of contents and headings of the articles and sections of this Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof, and will not
        modify or restrict any of the terms or provisions hereof.

      

      

      
        34

        
          

      

      In Witness Whereof, the parties hereto have caused this Indenture to be duly executed all as of the day and year first above
        written.

      

      

       

      

      	 	
              CarParts.com, Inc.

            
	 	 	 
	 	
              By:

            	 
	 	 	 
	 	
              Name:

            	 
	 	 	 
	 	
              Title:

            	 
	 	 	 
	 	
              [Trustee], as Trustee

            
	 	 	 
	 	
              By:

            	 
	 	 	 
	 	
              Name:

            	 
	 	 	 
	 	
              Title:

            	 

      

      

      

      

      

      

      

      

      

      

      Signature Page to Indenture

      

      
        
          

      

      CROSS-REFERENCE TABLE (1)

      

      

       

      

      	
              Section of Trust Indenture Act of 1939, as Amended

            	 	
              Section of Indenture

            
	
              310(a)

            	 	
              7.09

            
	
              310(b)

            	 	
              7.08

            
	 	 	
              7.10

            
	
              311(a)

            	 	
              7.13

            
	
              311(b)

            	 	
              7.13

            
	
              312(a)

            	 	
              5.01

            
	 	 	
              5.02(a)

            
	
              312(b)

            	 	
              5.02(c)

            
	
              312(c)

            	 	
              5.02(c)

            
	
              313(a)

            	 	
              5.04(a)

            
	
              313(b)

            	 	
              5.04(b)

            
	
              313(c)

            	 	
              5.04(a)

            
	 	 	
              5.04(b)

            
	
              313(d)

            	 	
              5.04(c)

            
	
              314(a)

            	 	
              5.03

            
	 	 	
              13.12

            
	
              314(b)

            	 	
              Inapplicable

            
	
              314(c)

            	 	
              13.07(a)

            
	
              314(d)

            	 	
              Inapplicable

            
	
              314(e)

            	 	
              13.07(b)

            
	
              314(f)

            	 	
              Inapplicable

            
	
              315(a)

            	 	
              7.01(a)

            
	 	 	
              7.01(b)

            
	
              315(b)

            	 	
              7.14

            
	
              315(c)

            	 	
              7.01

            
	
              315(d)

            	 	
              7.01(b)

            
	
              315(e)

            	 	
              6.07

            
	
              316(a)

            	 	
              6.06

            
	 	 	
              8.04

            
	
              316(b)

            	 	
              6.04

            
	
              316(c)

            	 	
              8.01

            
	
              317(a)

            	 	
              6.02

            
	
              317(b)

            	 	
              4.03

            
	
              318(a)

            	 	
              13.09

            
	 	 	 

       

      

      	 	
              (1)

            	
              This Cross-Reference Table does not constitute part of the Indenture and shall not have any bearing on the interpretation of any of its terms or provisions.

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