Document:

Exhibit 10.2

 

CONSENT, WAIVER AND AMENDMENT NO. 1 TO

LOAN AND SECURITY AGREEMENT

 

This CONSENT,
WAIVER AND AMENDMENT nO. 1 TO LOAN AND SECURITY AGREEMENT (this “Amendment”) is dated as of March 19,
2021 by and among NEOS THERAPEUTICS, INC., a Delaware corporation (“Company”), NEOS THERAPEUTICS BRANDS, LLC,
a Delaware limited liability company (“NT Brands”), NEOS THERAPEUTICS, LP, a Texas limited partnership (“NT
LP”; together with Company and NT Brands, each, a “Borrower” and collectively, the “Borrowers”),
each other Loan Party Obligor party hereto, the Lenders party hereto, and ENCINA BUSINESS CREDIT, LLC, as agent for the Lenders
(in such capacity, “Agent”).

 

W I T N E S S E T H:

 

WHEREAS, Borrowers, certain
other Loan Party Obligors, Agent and Lenders are parties to that certain Loan and Security Agreement dated as of October 2, 2019
(as amended, amended and restated, supplemented or otherwise modified from time to time, the “Loan Agreement”;
capitalized terms not otherwise defined herein have the definitions provided therefore in the Loan Agreement);

 

WHEREAS, Company has
entered into that certain Merger Agreement, dated as of December 10, 2020, by and among Company, Aytu Bioscience, Inc., a Delaware
corporation (“Aytu”), and Neutron Acquisition Sub, Inc., a Delaware corporation (the “Aytu Merger Agreement”),
pursuant to which, subject to the terms and conditions set forth therein, Aytu shall acquire the Company via merger such that,
after giving effect to such merger, Company and each other Loan Party shall be wholly-owned direct or indirect subsidiaries of
Aytu (the “Aytu Merger Transaction”);

 

WHEREAS, upon consummation
of the Aytu Merger Transaction, Borrowers desire to make a prepayment of up to $15,000,000
of principal in respect of the Term Loan Debt plus any interest thereon that would have otherwise accrued through May 11, 2021
(collectively, the “Specified Term Loan Prepayment”);

 

WHEREAS, on the date
hereof, Borrowers desire to enter into that certain Consent, Waiver and Sixth Amendment to Facility Agreement in the form attached
hereto as Exhibit A (the “Term Loan Amendment”), pursuant to which Company and the holders of the Term
Loan Debt will make certain modifications to the Term Loan Facility Agreement in accordance with the terms and conditions set forth
therein (including the addition of certain guarantors and collateral to support the Term Loan Debt in respect of Aytu and certain
of its subsidiaries);

 

WHEREAS, Borrowers have
requested that Agent and Lenders consent to (a) the change in control that will result from the consummation of the Aytu Merger
Transaction, (b) the making of the Specified Term Loan Prepayment and (c) the modifications to the Term Loan Facility Agreement
contemplated by the Term Loan Amendment, notwithstanding anything contained in the Loan Agreement or the Term Loan Intercreditor
Agreement (including without limitation Section 2.2(e) thereof) to the contrary (collectively, the “Requested Consents”);

 

     

     

    

 

WHEREAS, Borrowers have
requested that Agent and Lenders waive all breaches, Defaults and Event of Default under Section 7.15(a) of the Loan Agreement
solely to the extent resulting from the inclusion of a “going concern” qualification in the audited financial statements
of the Borrowers and Loan Party Obligors on a consolidated basis for the fiscal year ending December 31, 2020 (the “Specified
Default”);

 

WHEREAS, in connection
with the foregoing, Borrowers have requested that Agent and Lenders agree to the amendments to the Loan Agreement set forth herein;
and

 

WHEREAS, Agent and Lenders
are willing to consent to the Requested Consents, waive the Specified Default and amend the Loan Agreement as set forth herein,
in each case subject to the terms and conditions set forth herein;

 

NOW THEREFORE, in consideration
of the mutual conditions and agreements set forth in the Loan Agreement, and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

1. Consent
under Loan Agreement. Subject to the satisfaction of the conditions set forth in Section 5 below and in reliance
on the representations set forth in Section 4 below, Agent and the Lenders party hereto hereby consent to the Requested
Consents; provided, that such consent in respect of the Specified Term Loan Prepayment is effective solely to the extent
such prepayment is funded solely with proceeds of the Aytu Merger Transaction or otherwise provided by Aytu (and not, for the avoidance
of doubt, funded with any cash on hand of Company or any other Loan Party). Except as expressly set forth herein, the foregoing
consent is a limited consent and shall not constitute (i) a modification or alteration of the terms, conditions or covenants
of the Loan Agreement or any other Loan Document or (ii) a waiver, release or limitation upon the exercise by Agent and/or
Lenders of any of their respective rights, legal or equitable thereunder.

 

2. Limited
Waiver under Loan Agreement. Subject to the satisfaction of the conditions set forth in Section 5 below and in
reliance on the representations set forth in Section 4 below, Agent and the Lenders party hereto irrevocably waive
(1) the Specified Default (but not, for the avoidance of doubt, any other Event of Default that may occur and be continuing at
any time) and (2) the right to impose the Default Rate of interest under Section 3.1 of the Loan Agreement, or to collect interest
accruing at such Default Rate that Lenders had a lawful right to collect or apply with respect to any such Specified Default (but
not, for the avoidance of doubt, any other Event of Default that may occur and be continuing at any time). Except as expressly
set forth herein, the foregoing consent is a limited waiver and shall not constitute (i) a modification or alteration of the
terms, conditions or covenants of the Loan Agreement or any other Loan Document or (ii) a waiver, release or limitation upon
the exercise by Agent and/or Lenders of any of their respective rights, legal or equitable thereunder.

 

    -2-

     

    

 

3. Amendments
to Loan Agreement. Subject to the satisfaction of the conditions set forth in Section 5 below and in reliance on
the representations set forth in Section 4 below, the Loan Agreement is hereby amended as follows:

 

(a) Section 1.1
of the Loan Agreement is hereby amended to insert the following new defined terms in their appropriate alphabetical order:

 

“Aytu”
shall mean Aytu Bioscience, Inc., a Delaware corporation.

 

(b) Section
11.1(l) of the Loan Agreement is hereby amended and restated in its entirety as follows:

 

(l) Change
of Control. If (i) Aytu fails to own and maintain beneficial ownership, directly or indirectly, of at least fifty percent (50%)
of the outstanding voting equity interests of Company on a fully diluted basis; (ii) during any period of twelve (12) consecutive
months, a majority of the members of the board of directors of Company cease to be composed of individuals (1) who were members
of that board or equivalent governing body on the first day of such period, (2) whose election or nomination to that board was
approved by individuals referred to in clause (1) above constituting at the time of such election or nomination at least a majority
of that board, or (3) whose election or nomination to that board was approved by individuals referred to in clauses (1) and (2)
above constituting at the time of such election or nomination at least a majority of that board; (iii) Company ceases to, directly
or indirectly, own and control 100% of each class of the outstanding equity interests of each other Loan Party; or (iv) a “change
of control” or similar event occurs under the Term Loan Debt Documents;

 

4. Representations
and Warranties. To induce Agent and Lenders to enter into this Amendment, Borrowers and the other Loan Party Obligors party
hereto represent and warrant to Agent and Lenders that:

 

(a)  the execution,
delivery and performance of this Amendment has been duly authorized by all requisite action on the part of Borrowers and each such
Loan Party Obligor party hereto and thereto, and that this Amendment has been duly executed and delivered by Borrowers and each
such Loan Party Obligor signatory hereto;

 

(b)  immediately
before and after giving effect to the consummation of the transactions contemplated by this Amendment, each of the representations
and warranties set forth in the Loan Agreement and in the other Loan Documents are true and correct in all material respects (without
duplication of any materiality provision or qualifier contained therein) as of the date hereof (or, to the extent any representations
or warranties are expressly made solely as of an earlier date, such representations and warranties are true and correct in all
material respects (without duplication of any materiality provision or qualifier contained therein) as of such earlier date);

 

(c)  immediately
before and after giving effect to the consummation of the transactions contemplated by this Amendment, no Default or Event of Default
has occurred and is continuing (or would be directly caused thereby);

 

(d)  this Amendment
constitutes the legal, valid and binding obligation of Borrowers and each such Loan Party Obligor party hereto and is enforceable
against Borrowers and each such Loan Party Obligor party hereto in accordance with its respective terms, subject to bankruptcy,
insolvency and similar laws affecting the enforceability of creditors’ rights generally and to general principles of equity;

 

    -3-

     

    

 

(e)  attached hereto
as Exhibit A is a true, correct and complete copy of the Term Loan Amendment;

 

(f)  no Loan Party
has agreed to any waiver, consent or other modification that would result in the waiver of payment or deferral of payment of the
scheduled principal payment due on May 11, 2021 under the Term Loan Debt; and

 

(g)  the Aytu Merger
Agreement has not been amended, supplemented or otherwise modified since original execution on December 10, 2020.

 

5. Conditions
to Effectiveness. The effectiveness of this Amendment is subject to the following conditions precedent (unless specifically
waived in writing by Agent), each to be in form and substance reasonably satisfactory to Agent:

 

(a) Agent
shall have received a fully executed copy of this Amendment executed by all Borrowers and each other Loan Party Obligor; and

 

(b) Agent
shall have received a fully executed copy of the Term Loan Amendment.

 

6. Reaffirmation.
Each Borrower and each other Loan Party Obligor hereby reaffirms its obligations under each Loan Document to which it is a party,
as each may have been amended on or prior to the date hereof (the “Reaffirmed Agreements”). Each Borrower and
each other Loan Party Obligor hereby further agrees that each Reaffirmed Agreement to which it is a party shall remain in full
force and effect following the execution and delivery of this Amendment and that all references in any of the Reaffirmed Agreements
to which it is a party to the “Loan Agreement” shall be deemed to refer to the Loan Agreement, as modified by this Amendment
and as amended or modified from time to time hereafter. Except as expressly set forth herein, each of the Reaffirmed Agreements
shall remain unmodified and in full force and effect.

 

7. Cost
and Expenses. Borrowers acknowledge that Section 15.7 of the Loan Agreement applies to this Amendment.

 

8. Severability.
If any provision of this Amendment is held invalid or unenforceable, either in its entirety or by virtue of its scope or application
to given circumstances, such provision shall thereupon be deemed modified only to the extent necessary to render same valid, or
not applicable to given circumstances, or excised from this Amendment, as the situation may require, and this Amendment shall be
construed and enforced as if such provision had been included herein as so modified in scope or application, or had not been included
herein.

 

9. References.
Any reference to the Loan Agreement contained in any document, instrument or agreement executed in connection with the Loan Agreement
shall be deemed to be a reference to the Loan Agreement as modified by this Amendment.

 

    -4-

     

    

 

10. Counterparts.
This Amendment may be executed in any number of counterparts, all of which shall constitute one and the same agreement. This Amendment
may be executed by facsimile, email delivery or electronic signature, each of which shall be an original, with the same effect
as if the signatures hereto and thereto were upon the same instrument. Signatures by facsimile, email delivery or electronic signature
or other electronic communication to this Amendment or any other Loan Document shall bind the parties to the same extent as would
a manually executed counterpart. The words “execution,” “signed,” “signature,” “delivery,”
and words of like import in or relating to any document to be signed in connection with this letter agreement and the transactions
contemplated hereby shall be deemed to include electronic signatures, deliveries or the keeping of records in electronic form,
each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery
thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable
law, the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records
Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

 

11. Release/Covenant
Not to Sue. Each Borrower and each other Loan Party Obligor on behalf of itself and its successors, assigns, heirs and other
legal representatives, hereby absolutely, unconditionally and irrevocably releases, remises and forever discharges the Released
Parties of and from any and all liability, including all actual or potential claims, demands or causes of action of any kind, nature
or description whatsoever, whether arising in law or equity or under contract or tort or under any state or federal law or otherwise,
which any Borrower or any Loan Party or any of their successors, assigns or other legal representatives has had, now has or has
made claim to have against any of the Released Parties for or by reason of any act, omission, matter, cause or thing whatsoever,
including any liability arising from acts or omissions pertaining to the transactions contemplated by this Amendment and the other
Loan Documents, whether based on errors of judgment or mistake of law or fact, from the beginning of time to and including the
date hereof, whether such claims, demands and causes of action are matured or known or unknown. Notwithstanding any provision in
the Loan Agreement to the contrary, this Section shall remain operative even after the Termination Date and shall survive the payment
in full of all of the Loans.

 

12. Ratification.
The terms and provisions set forth in this Amendment shall modify and supersede all inconsistent terms and provisions of the Loan
Agreement and shall not be deemed to be a consent to the modification or waiver of any other term or condition of the Loan Agreement.

 

13. Governing
Law. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS
MADE AND TO BE PERFORMED THEREIN WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES. FURTHER, THE LAW OF THE STATE OF NEW YORK SHALL
APPLY TO ALL DISPUTES OR CONTROVERSIES ARISING OUT OF OR CONNECTED TO OR WITH THIS AMENDMENT WITHOUT REGARD TO CONFLICT OF LAW
PRINCIPLES.

 

[Signature Pages Follow]

 

    -5-

     

    

 

IN WITNESS WHEREOF, the
parties hereto have caused this Amendment to be duly executed and delivered by their respective duly authorized officers on the
date first written above.

  

	 	BORROWERS:
	 	 
	 	NEOS THERAPEUTICS, INC.
	 	 	 
	 	By:	/s/ Richard Eisenstadt
	 	Name:	Richard Eisenstadt
	 	Title:	Chief Financial Officer
	 	 	 
	 	NEOS THERAPEUTICS BRANDS, LLC
	 	 	 
	 	By:	/s/ Richard Eisenstadt
	 	Name:	Richard Eisenstadt
	 	Title:	Chief Financial Officer
	 	 	 
	 	NEOS THERAPEUTICS, LP
	 	 	 
	 	By: PHARMAFAB TEXAS, LLC, its general partner
	 	 	 
	 	By:	/s/ Richard Eisenstadt
	 	Name: 	Richard Eisenstadt
	 	Title:	Chief Financial Officer

 

Signature Page to Consent, Waiver and Amendment No. 1 to Loan
and Security Agreement

 

     

     

    

   

	 	LOAN PARTY OBLIGORS:
	 	 
	 	NEOS THERAPEUTICS COMMERCIAL, LLC
	 	 	 
	 	By:	/s/ Richard Eisenstadt
	 	Name:  	 Richard Eisenstadt
	 	Title:	Chief Financial Officer
	 	 	 
	 	PHARMAFAB TEXAS, LLC
	 	 	 
	 	By:	/s/ Richard Eisenstadt
	 	Name:  	Richard Eisenstadt
	 	Title:	Chief Financial Officer

 

Signature Page to Consent, Waiver and Amendment No. 1 to Loan
and Security Agreement

 

     

     

    

 

	 	AGENT:
	 	 	 
	 	ENCINA BUSINESS CREDIT, LLC, as
    Agent
	 	 	 
	 	By:	/s/ Jean R. Elie Jr. 
	 	Name: 	Jean R. Elie Jr.
	 	Title:	Authorized Signatory
	 	 	 
	 	LENDERS:
	 	 	 
	 	ENCINA BUSINESS CREDIT, LLC, as
    the sole Lender
	 		 
	 	By:	/s/
Jean R. Elie Jr.
	 	Name:	Jean R. Elie Jr.
	 	Title:	Authorized Signatory

 

Signature Page to Consent, Waiver and Amendment No. 1 to Loan
and Security Agreement

 

     

     

    

 

Exhibit A

 

Term Loan Amendment

  

See Exhibit 10.1
to this Current Report on Form 8-KEX-4.1

 Exhibit 4.1 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW
YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE
HEREOF. 
  

			
	No.                    	  	$                    

 CUSIP No: 92343V GD0 
 ISIN No:
US92343VGD01 
 Common Code: 232145978 
 Verizon
Communications Inc. 
 Floating Rate Notes due 2024 

Verizon Communications Inc., a corporation duly organized and existing under the laws of the State of Delaware (the “Company”), for value received,
hereby promises to pay to Cede & Co., or registered assigns, the principal sum of                         
($                    ) on March 22, 2024, and to pay interest on said principal sum from March 22, 2021, or from the most recent
interest payment date to which interest has been paid or duly provided for, quarterly in arrears on March 22, June 22, September 22 and December 22 in each year, commencing June 22, 2021 (each, a “Floating Rate Interest
Payment Date”), at a floating rate per annum equal to Compounded SOFR (as defined on the reverse hereof) plus 0.500% until the principal hereof shall have become due and payable, and on any overdue principal and (to the extent that payment of
such interest is enforceable under applicable law) on any overdue installment of interest at the same rate per annum. The interest installment so payable, and punctually paid or duly provided for, on any Floating Rate Interest Payment Date will, as
provided in the Indenture hereinafter referred to, be paid to the person in whose name this Debt Security (or one or more Predecessor Securities, as defined in said Indenture) is registered at the close of business on the regular record date for
such interest installment, which shall be the March 7, June 7, September 7 or December 7, as the case may be (whether or not a Business Day), next preceding such Floating Rate Interest Payment Date. However, interest that the
Company pays on the maturity date shall be payable to the person to whom the principal hereof shall be payable. Interest on this Debt Security will be computed on the basis of a 360-day year and the actual
number of days in the Observation Period (as defined on the reverse hereof). Any such interest installment not so punctually paid or duly provided for shall forthwith cease to be payable to the registered holder on such regular record date, and may
be paid to the person in whose name this Debt Security (or one or more Predecessor Securities) is registered at the close of business on a special record date to be fixed by the Trustee for the payment of such defaulted interest, notice whereof
shall be given to the registered holders of this series of Debt Securities as provided in the Indenture, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debt
Securities may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. If any Floating Rate Interest Payment Date falls on a day that is not a Business Day, the Company or its designee will
make the interest payment on the next succeeding Business Day unless that Business Day is in the next succeeding calendar month, in which case (other than in the case of the maturity date), the Company or its designee will make the interest payment
on the immediately preceding Business Day. If an interest payment is made on the next succeeding Business Day, no interest will accrue as a result of the delay in payment. If the date of any payment of principal (including the maturity date) for
this Debt Security falls on a day that is not a Business Day, the payment due on such date will be postponed to the next succeeding Business Day, and no further interest will accrue in respect of such postponement. The principal of and the

 
interest on this Debt Security shall be payable at the office or agency of the Company maintained for that purpose in the City of New York, State of New York, in any coin or currency of the
United States of America which at the time of payment is legal tender for payment of public and private debts; provided, however, that payment of interest may be made at the option of the Company by check mailed to the registered holder at such
address as shall appear in the Security Register. This Debt Security shall not be entitled to any benefit under the Indenture, or be valid or become obligatory for any purpose, until the Certificate of Authentication hereon shall have been signed by
or on behalf of the Trustee. 
 On each Interest Payment Determination Date (as defined on the reverse hereof) relating to a Floating Rate Interest Payment
Date, the calculation agent will calculate the amount of accrued interest payable on the Debt Securities for each interest period by multiplying (i) the outstanding principal amount of the Debt Securities by (ii) the product of
(a) the interest rate for the relevant interest period multiplied by (b) the quotient of the actual number of calendar days in such Observation Period divided by 360. In no event will the interest on the Debt Securities be less than
zero. 
 The term “interest period” with respect to this Debt Security, means the period commencing on any Floating Rate Interest Payment Date
(or, with respect to the initial interest period only, commencing on March 22, 2021) to, but excluding, the next succeeding Floating Rate Interest Payment Date, and in the case of the last such period, from and including the Floating Rate
Interest Payment Date immediately preceding the maturity date to but excluding such maturity date. The interest rate for any interest period will not be adjusted for any modifications or amendments to the SOFR Index or SOFR data that the Federal
Reserve Bank of New York may publish after the interest rate for that interest period has been determined. 
 As used herein, “Business Day” means
any day, other than a Saturday or a Sunday, that is neither a legal holiday nor a day on which commercial banks are authorized or required by law, regulation or executive order to close in the City of New York, State of New York. The provisions of
this Debt Security are continued on the reverse side hereof, and such continued provisions shall for all purposes have the same effect as though fully set forth at this place. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be executed. 

Dated: March 22, 2021 
  

			
	VERIZON COMMUNICATIONS INC.
		
	By:	 	
                 

		 	Name: Scott Krohn
		 	Title: Senior Vice President and Treasurer

 CERTIFICATE OF AUTHENTICATION 

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

 

			
	 U.S. Bank National Association

as Trustee, Authenticating Agent and

Security Registrar

		
	By	 	  

		 	Authorized Signatory

 Dated: March 22, 2021 

 (FORM OF REVERSE OF DEBT SECURITY) 

This Debt Security is one of a duly authorized series of Securities of the Company, all issued or to be issued in one or more series under and pursuant to an
Indenture dated as of December 1, 2000, duly executed and delivered by the Company (as successor in interest to Verizon Global Funding Corp.) and U.S. Bank National Association (as successor to Wachovia Bank, National Association, formerly
known as First Union National Bank), as trustee (the “Trustee”), as amended and supplemented (the “Indenture”), to which Indenture reference is hereby made for a description of the rights, limitation of rights, obligations,
duties and immunities thereunder of the Trustee, the Company and the holders of the Securities. By the terms of the Indenture, the Securities are issuable in series which may vary as to amount, date of maturity, rate of interest and in other
respects as in the Indenture provided. This Debt Security is one of the series designated on the face hereof (the “Debt Securities”) unlimited in aggregate principal amount. 

Beneficial interests in this global Debt Security may be held in minimum denominations of $2,000 and integral multiples of $1,000 in excess of $2,000. This
global Debt Security shall be exchangeable for Debt Securities in definitive form registered in the names of persons other than the Depository or its nominee only if (i) the Depository notifies the Company that it is unwilling or unable to
continue as the Depository or if at any time such Depository is no longer registered as a clearing agency or in good standing under the Securities Exchange Act of 1934, as amended, or other applicable statute and a successor depository is not
appointed by the Company within 90 days or (ii) the Company executes and delivers to the Trustee an Officers’ Certificate that this global Debt Security shall be so exchangeable. To the extent that this global Debt Security is exchangeable
pursuant to the preceding sentence, it shall be exchangeable for Debt Securities registered in such names as the Depository shall direct. Debt Securities represented by this global Debt Security that may be exchanged for Debt Securities in
definitive form under the circumstances described in this paragraph will be exchangeable only for Debt Securities in definitive form issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess of $2,000. Notwithstanding any
other provision herein, this global Debt Security may not be transferred except as a whole by the Depository to a successor or to a nominee of such Depository or its successor or by a nominee of such Depository to such Depository or its successor or
to another nominee of such Depository or its successor. 
 In case an Event of Default with respect to the Debt Securities shall have occurred and be
continuing, the principal of all of the Debt Securities may be declared, and upon such declaration shall become, due and payable, in the manner, with the effect and subject to the conditions provided in the Indenture. 

The Indenture contains provisions permitting the Company and the Trustee, with the consent of the holders of not less than a majority in aggregate principal
amount of the Securities of each series affected at the time outstanding, as defined in the Indenture, to execute supplemental indentures for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
the Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of the Securities; provided, however, that no such supplemental indenture shall, among other things, (i) 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, without the consent of the holder of each Debt
Security so affected or (ii) reduce the aforesaid percentage of Debt Securities, the holders of which are required to consent to any such supplemental indenture, without the consent of the holders of each Debt Security then outstanding and
affected thereby. The Indenture also contains provisions permitting the holders of a majority in aggregate principal amount of the Securities of any series at the time outstanding, on behalf of the holders of Securities of such series, to waive any
past default in the performance of any of the covenants contained in the Indenture, or established pursuant to the Indenture 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 such series. Any such consent or waiver by the registered holder of this Debt Security (unless revoked as provided in the Indenture) shall be conclusive and binding upon such holder and upon all future holders
and owners of this Debt Security and of any Debt Security issued in exchange herefor or in place hereof (whether by registration of transfer or otherwise), irrespective of whether or not any notation of such consent or waiver is made upon this Debt
Security. 
 No reference herein to the Indenture and no provision of this Debt Security or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of and interest on this Debt Security at the times and place and at the rate and in the money herein prescribed. 

The Debt Securities are issuable as registered Debt Securities without coupons. 

 The Debt Securities shall be in minimum denominations of $2,000 and integral multiples of $1,000 in excess
of $2,000. Debt Securities may be exchanged, upon presentation thereof for that purpose, at the office or agency of the Company in the City of New York, State of New York, for other Debt Securities of authorized denominations, and for a like
aggregate principal amount and series, and upon payment of a sum sufficient to cover any tax or other governmental charge in relation thereto. 
 The Debt
Securities may not be redeemed prior to maturity. 
 “Compounded SOFR” will be determined by the calculation agent in accordance with the
following formula (and the resulting percentage will be rounded, if necessary, to the nearest one hundred-thousandth of a percentage point): 
  

											
	(	 	SOFR IndexEnd	  	 – 1 
	  	)	  	x	  	360
	 	SOFR IndexStart	  	dc 

 where: 

“SOFR IndexStart” = For periods other than the initial interest period, the
SOFR Index value on the preceding Interest Payment Determination Date, and, for the initial interest period, the SOFR Index value on March 18, 2021; 

“SOFR IndexEnd” = The SOFR Index value on the Interest Payment
Determination Date relating to the applicable Floating Rate Interest Payment Date (or in the final interest period, relating to the maturity date); and 

“dc” is the number of calendar days in the relevant Observation Period. 

For purposes of determining Compounded SOFR, 

“Interest Payment Determination Date” means the date two U.S. Government Securities Business Days before each Floating Rate Interest
Payment Date. 
 “Observation Period” means, in respect of each interest period, the period from, and including, the date two U.S.
Government Securities Business Days preceding the first date in such interest period to, but excluding, the date two U.S. Government Securities Business Days preceding the Floating Rate Interest Payment Date for such interest period (or in the final
interest period, preceding the maturity date). 
 “SOFR Index” means, with respect to any U.S. Government Securities Business Day:

  

	 	(1)	 the SOFR Index value as published by the SOFR Administrator as such index appears on the SOFR
Administrator’s Website at 3:00 p.m. (New York time) on such U.S. Government Securities Business Day (the “SOFR Index Determination Time”); provided that: 

 

	 	(2)	 if a SOFR Index value does not so appear as specified in (1) above at the SOFR Index Determination Time,
then: (i) if a Benchmark Transition Event (as defined herein) and its related Benchmark Replacement Date (as defined herein) have not occurred with respect to SOFR, then Compounded SOFR shall be the rate determined pursuant to the SOFR Index
unavailability provisions described below; or (ii) if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to SOFR, then Compounded SOFR shall be the rate determined pursuant to the benchmark
replacement provisions described below. 

 “SOFR” means the daily secured overnight financing rate as provided
by the SOFR Administrator on the SOFR Administrator’s Website. 
 “SOFR Administrator” means the Federal Reserve Bank of New
York (or a successor administrator of SOFR). 
 “SOFR Administrator’s Website” means the website of the Federal Reserve Bank
of New York, currently at http://www.newyorkfed.org, or any successor source. 
 “U.S. Government Securities Business Day” means
any day except for a Saturday, a Sunday or a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in U.S. government
securities. 

 Notwithstanding anything to the contrary in the documentation relating to the Debt Securities, if the
Company or its designee determines on or prior to the relevant Reference Time (as defined herein) that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to determining Compounded SOFR, then the
benchmark replacement provisions set forth below will thereafter apply to all determinations of the rate of interest payable on the Debt Securities. For the avoidance of doubt, in accordance with the benchmark replacement provisions, after a
Benchmark Transition Event and its related Benchmark Replacement Date have occurred, the interest rate for each interest period on the Debt Securities will be an annual rate equal to the sum of the Benchmark Replacement (as defined herein) and the
applicable margin. 
 If a SOFR IndexStart or SOFR IndexEnd is not published on the associated Interest Payment Determination Date and a Benchmark Transition Event and its related Benchmark Replacement Date have not occurred with respect to SOFR,
“Compounded SOFR” means, for the applicable interest period for which such index is not available, the rate of return on a daily compounded interest investment calculated in accordance with the formula for SOFR Averages, and definitions
required for such formula, published on the SOFR Administrator’s Website at https://www.newyorkfed.org/markets/treasury-repo-reference-rates-information. For the purposes of this provision, references in the SOFR Averages compounding formula
and related definitions to “calculation period” shall be replaced with “Observation Period” and the words “that is, 30-, 90-, or 180- calendar days” shall be removed. If SOFR does not so appear for any day, “i” in the Observation Period, SOFRi for such day
“i” shall be SOFR published in respect of the first preceding U.S. Government Securities Business Day for which SOFR was published on the SOFR Administrator’s Website. 

If the Company or its designee determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior to the Reference
Time in respect of any determination of the Benchmark on any date, the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the Debt Securities in respect of such determination on such date and all
determinations on all subsequent dates. In connection with the implementation of a Benchmark Replacement, the Company or its designee will have the right to make Benchmark Replacement Conforming Changes (as defined herein) from time to time. 

Any determination, decision or election that may be made by the Company or its designee pursuant to the benchmark replacement provisions described herein,
including any determination with respect to tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any
selection: 
  

	 	•	 	 will be conclusive and binding absent manifest error; 

 

	 	•	 	 if made by the Company, will be made in its sole discretion; 

 

	 	•	 	 if made by the Company’s designee, will be made after consultation with the Company, and such designee will
not make any such determination, decision or election to which the Company objects; and 

  

	 	•	 	 shall become effective without consent from the holders of the Debt Securities or any other party.

 Any determination, decision or election pursuant to the benchmark replacement provisions shall be made by the Company or its designee
(which may be the Company’s affiliate) on the basis as described above. The calculation agent shall have no liability for not making any such determination, decision or election. 

“Benchmark” means, initially, Compounded SOFR; provided that if a Benchmark Transition Event and its related Benchmark Replacement Date have
occurred with respect to Compounded SOFR (or the published SOFR Index used in the calculation thereof) or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement. 

“Benchmark Replacement” means the first alternative set forth in the order below that can be determined by the Company or its designee as of the
Benchmark Replacement Date: 
  

	 	a)	 the sum of: (a) an alternate rate of interest that has been selected or recommended by the Relevant
Governmental Body (as defined herein) as the replacement for the then-current Benchmark and (b) the Benchmark Replacement Adjustment (as defined herein); 

	 	b)	 the sum of: (a) the ISDA Fallback Rate (as defined herein) and (b) the Benchmark Replacement
Adjustment; or 

  

	 	c)	 the sum of: (a) the alternate rate of interest that has been selected by the Company or its designee as
the replacement for the then-current Benchmark giving due consideration to any industry-accepted rate of interest as a replacement for the then-current Benchmark for U.S. dollar denominated floating rate notes at such time and (b) the Benchmark
Replacement Adjustment. 

 “Benchmark Replacement Adjustment” means the first alternative set forth in the order below that can
be determined by the Company or its designee as of the Benchmark Replacement Date: 
  

	 	a)	 the spread adjustment (which may be a positive or negative value or zero), or method for calculating or
determining such spread adjustment, that has been selected or recommended by the Relevant Governmental Body for the applicable Unadjusted Benchmark Replacement (as defined herein); 

 

	 	b)	 if the applicable Unadjusted Benchmark Replacement is equivalent to the ISDA Fallback Rate, the ISDA Fallback
Adjustment (as defined herein); or 

  

	 	c)	 the spread adjustment (which may be a positive or negative value or zero) that has been selected by the Company
or its designee giving due consideration to any industry-accepted spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the then-current Benchmark with the applicable Unadjusted Benchmark
Replacement for U.S. dollar denominated floating rate notes at such time. 

 “Benchmark Replacement Conforming Changes” means,
with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definitions or interpretations of interest period, the timing and frequency of determining rates and making payments of
interest, the rounding of amounts or tenors, and other administrative matters) that the Company or its designee decides may be appropriate to reflect the adoption of such Benchmark Replacement in a manner substantially consistent with market
practice (or, if the Company or its designee decides that adoption of any portion of such market practice is not administratively feasible or if the Company or its designee determines that no market practice for use of the Benchmark Replacement
exists, in such other manner as the Company or its designee determines is reasonably practicable). 
 “Benchmark Replacement Date” means the
earliest to occur of the following events with respect to the then-current Benchmark (including any daily published component used in the calculation thereof): 
  

	 	a)	 in the case of clause (a) or (b) of the definition of “Benchmark Transition Event,” the later of
(i) the date of the public statement or publication of information referenced therein and (ii) the date on which the administrator of the Benchmark permanently or indefinitely ceases to provide the Benchmark (or such component); or

  

	 	b)	 in the case of clause (c) of the definition of “Benchmark Transition Event,” the date of the
public statement or publication of information referenced therein. 

 For the avoidance of doubt, if the event giving rise to the
Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination. 

“Benchmark Transition Event” means the occurrence of one or more of the following events with respect to the then-current Benchmark (including the
daily published component used in the calculation thereof): 
  

	 	a)	 a public statement or publication of information by or on behalf of the administrator of the Benchmark (or such
component) announcing that such administrator has ceased or will cease to provide the Benchmark (or such component), permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that
will continue to provide the Benchmark (or such component); 

	 	b)	 a public statement or publication of information by the regulatory supervisor for the administrator of the
Benchmark (or such component), the central bank for the currency of the Benchmark (or such component), an insolvency official with jurisdiction over the administrator for the Benchmark (or such component), a resolution authority with jurisdiction
over the administrator for the Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for the Benchmark (or such component), which states that the administrator of the Benchmark
(or such component) has ceased or will cease to provide the Benchmark (or such component) permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the
Benchmark (or such component); or 

  

	 	c)	 a public statement or publication of information by the regulatory supervisor for the administrator of the
Benchmark announcing that the Benchmark is no longer representative. 

 “ISDA Definitions” means the 2006 ISDA Definitions
published by the International Swaps and Derivatives Association, Inc. or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time. 

“ISDA Fallback Adjustment” means the spread adjustment (which may be a positive or negative value or zero) that would apply for derivatives
transactions referencing the ISDA Definitions to be determined upon the occurrence of an index cessation event with respect to the Benchmark for the applicable tenor. 

“ISDA Fallback Rate” means the rate that would apply for derivatives transactions referencing the ISDA Definitions to be effective upon the
occurrence of an index cessation date with respect to the Benchmark for the applicable tenor excluding the applicable ISDA Fallback Adjustment. 

“Reference Time” with respect to any determination of the Benchmark means (1) if the Benchmark is Compounded SOFR, the SOFR Index Determination
Time and (2) if the Benchmark is not Compounded SOFR, the time determined by the Company or its designee in accordance with the Benchmark Replacement Conforming Changes. 

“Relevant Governmental Body” means the Federal Reserve Board and/or the Federal Reserve Bank of New York, or a committee officially endorsed or
convened by the Federal Reserve Board and/or the Federal Reserve Bank of New York or any successor thereto. 
 “Unadjusted Benchmark Replacement”
means the Benchmark Replacement excluding the Benchmark Replacement Adjustment. 
 The interest rate and amount of interest to be paid on this Debt Security
for each interest period will be determined by the calculation agent. U.S. Bank National Association will initially serve as the calculation agent. The Company may change the calculation agent at any time without notice, and U.S. Bank National
Association may resign as calculation agent at any time upon sixty (60) days’ written notice to the Company. All determinations made by the calculation agent shall, in the absence of manifest error, be conclusive for all purposes and
binding on the Company and the holders of the Debt Securities. So long as Compounded SOFR is required to be determined with respect to the Debt Securities, there will at all times be a calculation agent. In the event that any then acting calculation
agent shall be unable or unwilling to act, or that such calculation agent shall fail duly to establish Compounded SOFR for any interest period, or the Company proposes to remove such calculation agent, the Company shall appoint another calculation
agent. 
 None of the Trustee, the Paying Agent and the calculation agent shall be under any obligation (i) to monitor, determine or verify the
unavailability or cessation of SOFR or the SOFR Index, or whether or when there has occurred, or to give notice to any other transaction party of the occurrence of, any Benchmark Transition Event or related Benchmark Replacement Date, (ii) to
select, determine or designate any Benchmark Replacement, or other successor or replacement benchmark index, or whether any conditions to the designation of such a rate or index have been satisfied, (iii) to select, determine or designate any
Benchmark Replacement Adjustment, or other modifier to any replacement or successor index, or (iv) to determine whether or what Benchmark Replacement Conforming Changes are necessary or advisable, if any, in connection with any of the
foregoing. 
 None of the Trustee, the Paying Agent and the calculation agent shall be liable for any inability, failure or delay on its part to perform any
of its duties set forth herein as a result of the unavailability of SOFR, the SOFR Index or other 

 
applicable Benchmark Replacement, including as a result of any failure, inability, delay, error or inaccuracy on the part of any other transaction party in providing any direction, instruction,
notice or information required or contemplated herein and reasonably required for the performance of such duties. 
 As provided in the Indenture and
subject to certain limitations therein set forth, this Debt Security is transferable by the registered holder hereof on the Security Register of the Company, upon surrender of this Debt Security for registration of transfer at the office or agency
of the Company in the City of New York, State of New York, accompanied by a written instrument or instruments of transfer in form satisfactory to the Company or the Security Registrar duly executed by the registered holder hereof or his attorney
duly authorized in writing, and thereupon one or more new Debt Securities of authorized denominations and for the same aggregate principal amount and series will be issued to the designated transferee or transferees. No service charge will be made
for any such transfer, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in relation thereto. 

Prior to due presentment for registration of transfer of this Debt Security, the Company, the Trustee, any Paying Agent and any Security Registrar for the
Debt Securities may deem and treat the registered holder hereof as the absolute owner hereof (whether or not this Debt Security shall be overdue and notwithstanding any notice of ownership or writing hereon made by anyone other than the Security
Registrar for the Debt Securities) for the purpose of receiving payment of or on account of the principal hereof and (subject to Section 310 of the Indenture) interest due hereon and for all other purposes, and neither the Company nor the
Trustee nor any Paying Agent nor any Security Registrar for the Debt Securities shall be affected by any notice to the contrary. 
 No recourse shall be had
for the payment of the principal of, or the interest on, this Debt Security, or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture, against any incorporator, stockholder, officer or director, past,
present or future, as such, of the Company or of any 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, all such liability being, by
the acceptance hereof and as part of the consideration for the issuance hereof, expressly waived and released. 
 The Depository by acceptance of this
global Debt Security agrees that it will not sell, assign, transfer or otherwise convey any beneficial interest in this global Debt Security unless such beneficial interest is in an amount equal to an authorized denomination for Debt Securities of
this series. 
 Capitalized terms used herein and not otherwise defined herein shall have the respective meanings set forth in the Indenture.

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