Document:

2014.09.30 EX 10.7 (GSJK)

EXHIBIT 10.7

CHANGE OF CONTROL AGREEMENT
THIS CHANGE OF CONTROL AGREEMENT (the “Agreement”), made and entered into effective as of August 4, 2014 (the “Effective Date”), by and between Compressco Partners GP Inc., a Delaware corporation (the “Company”), as the general partner of Compressco Partners, L.P. (the “Partnership”) and Timothy A. Knox (“Executive”).
WHEREAS, the Company and Executive desire to enter into an agreement regarding their respective rights and obligations in connection with a Change of Control during the Term of this Agreement;
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Executive agree as follows:
1. Term. This Agreement shall begin on the Effective Date and shall continue until the second anniversary of the Effective Date (the “Initial Term”); provided, however, that commencing on the second anniversary of the Effective Date and each anniversary thereafter, the term of this Agreement shall automatically be extended for successive one year periods (each, a “Renewal Term”) (such Initial Term, plus any Renewal Terms, plus, in the event of Executive’s Qualifying Termination for Good Reason, any additional time period necessitated by the Company’s right to cure as set forth in the definition of Good Reason (the “Term”)), unless at least 90 days prior to the expiration of the Initial Term or any Renewal Term the Board shall give written notice to Executive that the Term of this Agreement shall cease to be so extended. However, if a Change of Control shall occur during the Term, the Term shall automatically continue in effect for a period of two (2) years from the date of such Change of Control plus, in the event of Executive’s Qualifying Termination for Good Reason, any additional time period necessitated by the Company’s right to cure as set forth in the definition of Good Reason. This Agreement shall automatically terminate upon Executive’s Termination, except as provided in the definition of Protected Period; provided, that Termination of this Agreement shall not (i) alter or impair any rights of Executive arising under this Agreement on or prior to such termination, or (ii) relieve Executive of the covenants and agreements under Section 4 hereof, as applicable.
2. Qualifying Termination. If a Qualifying Termination occurs with respect to the Executive, Executive shall be entitled to the benefits provided in Section 3 hereof. If Executive’s employment terminates for any reason other than for a Qualifying Termination, then Executive shall not be entitled to any benefits under this Agreement; provided that Executive’s right to receive the Accrued Obligations, if any, shall not be affected by this Agreement.    
3. Benefits Upon a Qualifying Termination.    
(a) Lump Sum. Subject to Section 3(c) and 3(d), if a Qualifying Termination occurs with respect to the Executive, then in addition to the Accrued Obligations, for which no Release of Claims is required, the Company shall pay to Executive, on the 60th day following the Date of Qualifying Termination, an amount, in a single lump sum payment, equal to the sum of:
(i) (A) an amount equal to any unpaid Annual Bonus attributable to the immediately preceding calendar year and an amount equal to any unpaid Long Term Bonus attributable to a performance period ending as of the end of the immediately preceding calendar year, each as would have been paid to Executive if Executive had remained employed with the Company until the date any such Annual Bonus or Long Term Bonus would have been paid, and in each case only to the extent the performance goals for each such bonus were achieved for the respective performance period (if the amount of such Annual Bonus and/or Long Term Bonus has not been calculated as of the Date of Qualifying Termination, then, notwithstanding the initial paragraph of Section 3(a) above, such amounts shall be paid within 10 days of calculation), plus, (B) an amount equal to Executive’s Target Annual Bonus for the Termination Year (prorated from the first day of the performance period to Date of Termination), plus (C) an amount equal to Executive’s Target Long Term Bonus for each outstanding Long Term Bonus; provided that any payment pursuant to this Section 3(a)(i) shall be in full satisfaction of the Annual Bonus or Long Term Bonus opportunities to which such payment relates and that was awarded to Executive under a plan or agreement between Executive and the Company or any Affiliate; plus

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(ii) The product of two (2) multiplied by the sum of Executive’s Base Salary and an amount equal to the Target Annual Bonus for the Termination Year (not prorated); plus
(iii) An amount equal to the aggregate premiums and any administrative fees applicable to Executive due to election of continuation coverage that  Executive would  be required to pay if Executive elected to continue, under the group health plan maintained by the Company or any Affiliate, medical and dental benefits for Executive and Executive’s eligible dependents for a period of two (2) years following the Date of Termination and Executive was required to pay the full cost of such continuation coverage without subsidy from the Company or any Affiliate.  The amount of the payment to Executive pursuant to this Section 3(a)(iii) shall be determined using the premiums Executive would be required to pay for continuation coverage without subsidy from the Company or any Affiliate if Executive elected continuation coverage as of the Date of Termination, based on Executive’s coverage elections in effect on day immediately preceding the Date of Termination under such group health plan.
(b) Awards. Subject to Section 3(c) and 3(d), if a Qualifying Termination occurs with respect to the Executive, then (i) except as expressly prohibited as of the Effective Date by the terms of the applicable plan under which any such award is granted, all stock options, restricted units, phantom units, unit awards, unit appreciation rights, or other awards based in common units of the Partnership held by Executive and not previously vested shall become immediately 100% vested as of the Date of Termination (except with respect to an award that is subject to the Section 409A Rules if such acceleration would result in the imposition of applicable taxes and interest under the Section 409A Rules) and (ii) each option shall remain exercisable until the respective expiration dates of such options.  Unless such acceleration is expressly prohibited as of the Effective Date by the terms of the applicable plan under which any such award is granted, the accelerated vesting of all options, restricted units, phantom units, unit awards, unit appreciation rights or other awards required by this Section 3(b) shall govern and have the effect of amending the award agreement relating to the award to be accelerated.
(c) Release. Notwithstanding anything in this Agreement to the contrary, no payment other than payment of the Accrued Obligations shall be made or benefits provided pursuant to this Agreement unless and until Executive signs and returns to the Company within 50 days following the date of a Qualifying Termination, and does not revoke within seven days thereafter, a release and waiver agreement (the “Release of Claims”) in substantially the same form as that attached hereto as Exhibit A, in exchange for the benefits described in this Section 3, releasing and waiving all claims for liability and damages in any way related to Executive’s employment against the Partnership Group, TETRA Technologies, Inc. (“TETRA”), and their respective affiliates, directors, officers, employees and agents, and their respective employee benefit plans and fiduciaries and agents of such plans.
(d) Section 409A Rules.
(i) This Agreement is intended to comply with the Section 409A Rules and any ambiguous provisions will be construed in a manner that is compliant with or exempt from the application of the Section 409A Rules. If a provision of the Agreement would result in the imposition of applicable taxes and interest under the Section 409A Rules, such provision may be reformed to avoid, to the extent possible, imposition of such taxes and interest and no action taken to comply with the Section 409A Rules shall be deemed to adversely affect any rights or benefits of Executive hereunder.
(ii) To the extent that any reimbursement or benefit in kind hereunder is subject to the Section 409A Rules, such reimbursement or benefit in kind shall be administered in accordance with Treasury Regulation Section 1.409A-3(i)(1)(iv). Specifically, (A) the applicable reimbursements and benefits in kind shall be such reimbursements and benefits in kind allowable pursuant to the Company’s standard policies and procedures as apply to the Company’s executive employees generally, (B) the amounts reimbursed and in-kind benefits under this Agreement during Executive’s taxable year may not affect the amounts reimbursed or in-kind benefits provided in any other taxable year, (C) the reimbursement of an eligible expense shall be made on or before the last day of Executive’s taxable year following the taxable year in which the expense was incurred, (D) the right to reimbursement or an in-kind benefit is not subject to liquidation or exchange for another benefit, and (E) the right to reimbursement of expenses incurred or to provision of benefits in kind shall terminate four years from Executive’s Date of Termination.

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(iii) If Executive is a “specified employee” within the meaning of the Section 409A Rules as of his Date of Termination, no distributions or benefits that are subject to, and not otherwise exempt from, the Section 409A Rules shall be made under this Agreement before the date that is six months and two days after the Date of Termination (or, if earlier, the date of Executive’s death).
(iv) If payment of any amount pursuant to this Agreement on the 60th day following the Date of Qualifying Termination would cause such amount to be subject to additional taxes under the Section 409A Rules, such amounts shall be paid in accordance with the terms governing the timing of such payment as provided in the applicable plan or agreement.
4. Restrictions and Obligations of Executive.
(a) Access to, and Acknowledgement of Value of, Confidential Information.  On the basis of certain existing agreements of confidentiality and non-disclosure by Executive for the benefit of the Partnership Group and/or TETRA, the Partnership Group and/or TETRA have previously made available to Executive Confidential Information regarding the Partnership Group and its business operations and in return for such existing agreements and Executive’s acknowledgements and agreements contained herein, the Company agrees to provide, or cause the Partnership Group to provide, Executive with (i) Confidential Information regarding the Partnership Group and its business operations arising after the date hereof and (ii) access to certain of the Partnership Group’s customers, prospective customers, vendors and other parties with whom the Partnership Group conducts business, which will allow Executive the opportunity to develop business relationships and goodwill with such customers, prospective customers, vendors and other such parties  after the date hereof.  Executive acknowledges and agrees that the Confidential Information is of significant value to the Partnership Group and the protection against unauthorized disclosure and use of the Confidential Information and the business relationships and goodwill that may be developed by Executive in performing his/her duties on behalf of the Partnership Group is of critical importance to the Partnership Group.  The Company and Executive agree that in addition to the Partnership Group’s disclosure of the Confidential Information and the business relationships and goodwill that may be developed by Executive in performing his duties on behalf of the Partnership Group, the Company’s agreement to make the payments provided in this Agreement to Executive constitutes additional consideration for the Executive’s compliance with the undertakings set forth in this Section 4.  Notwithstanding any other provision of this Agreement to the contrary, Executive shall only be required to comply with the provisions of this Section 4 following the Date of Termination if Executive receives the benefits as provided in Section 3 above. 
(b) Confidentiality. Executive acknowledges that the Partnership Group and TETRA have previously provided Executive with Confidential Information and will continue to provide Executive with Confidential Information.  Executive agrees that Executive will not, while employed by the Company, any Affiliate, or any member of the Partnership Group and at any time thereafter, disclose or make available to any other person or entity, or use for Executive’s own personal gain, any Confidential Information, except for such disclosures as required in the performance of Executive’s duties with the Partnership Group or TETRA or as may otherwise be required by law or legal process (in which case Executive shall notify the Company of such legal or judicial proceeding as soon as practicable following his receipt of notice of such a proceeding, and permit the Company to seek to protect its interests and information).  Executive acknowledges and agrees that such Confidential Information is the exclusive property of the Partnership Group and will only be used for the benefit of the Partnership Group.  Further, Executive waives and releases any claim that he/she should be able to use, for the benefit of any competing person or entity, Confidential Information that was received by Executive while working for the Company, or otherwise on behalf of the Partnership Group.  
(c) Non-Solicitation or Hire. During the term of Executive’s employment with the Company, any Affiliate, or any member of the Partnership Group and for a two-year period following Termination for any reason, Executive shall not, directly or indirectly (i) employ or seek to employ any person who is at the Date of Termination, or was at any time within the six-month period preceding the Date of Termination, an officer or senior level employee of the Company or any member of the Partnership Group or otherwise solicit, encourage, cause or induce any such employee of the Company or any member of the Partnership Group to terminate such employee’s employment with the Company or such member of the Partnership Group or to enter into employment with another company (including for this purpose the contracting with any person who was an independent contractor (excluding consultant) of the Company or any member of the Partnership Group during such period) or (ii) take any action that would interfere with the relationship 

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of the Company or any member of the Partnership Group with their suppliers or customers without, in either case, the prior written consent of the Board.
(d) Non-Competition. During the term of Executive’s employment with the Company, any Affiliate, or any member of the Partnership Group and for a two-year period following Termination for any reason, Executive shall not, directly or indirectly, either individually or on behalf of, in partnership or conjunction with, any person or entity, as owner, officer, director, partner, member, investor, employee, principal, agent, shareholder or in any other capacity or manner whatsoever, be engaged in the Restricted Business anywhere in the Restricted Area.
Nothing contained in this Section 4 shall prohibit or otherwise restrict Executive from acquiring or owning, directly or indirectly, for passive investment purposes not intended to circumvent this Agreement, securities of any entity engaged, directly or indirectly, in a Restricted Business if such entity is a public entity and Executive (i) is not a controlling Person of, or a member of a group that controls, such entity and (ii) owns, directly or indirectly, no more than 3% of any class of equity securities of such entity.
Notwithstanding the foregoing, the above-referenced limitations in clause (ii) of Section 4(c) and in Section 4(d) shall not apply in those portions of the Restricted Area located within the State of Oklahoma.  Instead, the Executive agrees that, in addition to the restrictions set forth in clause (i) of Section 4(c), the restrictions on the Executive’s activities within those portions of the Restricted Area located within the State of Oklahoma shall be as follows:  during the term of Executive’s employment with the Company, any Affiliate, or any member of the Partnership Group, and for a two-year period following Termination for any reason, the Executive will not directly solicit the sale of goods, services, or a combination of goods and services that constitute the Restricted Business from the established customers of the Partnership Group.  Following the termination of employment and during such two-year period thereafter, the Executive may solicit the sale of goods, services or a combination of goods and services from the established customers of the Partnership Group so long as such activities do not relate to the Restricted Business. 
(e) Injunctive Relief. Executive acknowledges that monetary damages for any breach of Section 4(b), (c), and (d) above will not be an adequate remedy and that irreparable injury will result to the Partnership Group, its business and property, in the event of such a breach. For that reason, Executive agrees that in the event of a breach, in addition to recovering legal damages, the Company is entitled to proceed in equity for specific performance or to enjoin Executive from violating such provisions.
(f) Severability. The Executive acknowledges and agrees that the restrictive covenants set forth in this Section 4 are reasonable and necessary in order to protect the Partnership Group’s valid business interests.  It is the intention of the parties hereto that the covenants, provisions and agreements contained herein shall be enforceable to the fullest extent allowed by law.  If any covenant, provision or agreement contained herein is found by a court having jurisdiction to be unreasonable in duration, scope or character of restrictions, or otherwise to be unenforceable, such covenant, provision or agreement shall not be rendered unenforceable thereby, but rather the duration, scope or character of restrictions of such covenant, provision or agreement shall be deemed reduced or modified with retroactive effect to render such covenant, provision or agreement reasonable or otherwise enforceable (as the case may be), and such covenant, provision or agreement shall be enforced as modified.  If the court having jurisdiction will not review the covenant, provision or agreement, the parties hereto shall mutually agree to a revision having an effect as close as permitted by applicable law to the provision declared unenforceable.  The parties hereto agree that if a court having jurisdiction determines, despite the express intent of the parties hereto, that any portion of the covenants, provisions or agreements contained herein are not enforceable, the remaining covenants, provisions or agreements of this Section 4 shall be valid and enforceable.  Moreover, to the extent that any provision is declared unenforceable, the Partnership Group shall have any and all rights under applicable statutes or common law to enforce its rights with respect to any and all Confidential Information or unfair competition by the Executive.
5. Parachute Payment Limitation.
(a) Anything in this Agreement to the contrary notwithstanding, if the Executive is a “disqualified individual” (as defined in Section 280G of the Code), and the severance benefits provided in Section 3, together with any other payments which the Executive has the right to receive, would constitute a “parachute payment” (as defined 

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in Section 280G of the Code), the severance benefits provided hereunder that constitute a parachute payment shall be either (i) reduced (but not below zero) so that the aggregate present value of such payments received by the Executive from the Company will be one dollar ($1.00) less than three times the Executive’s “base amount” (as defined in Section 280G of the Code) and so that no portion of such payments received by the Executive shall be subject to the excise tax imposed by Section 4999 of the Code, or (ii) paid in full, whichever produces the better net after-tax result for the Executive (taking into account any applicable excise tax under Section 4999 of the Code and any other applicable taxes).  
(b) In making any reductions pursuant to Section 5(a), above, the Company shall reduce or eliminate amounts first by reducing those amounts that are not payable in cash, and then by reducing or eliminating cash amounts, in each case in reverse order beginning with amounts, if any, that are to be paid the farthest in time from the Date of Qualifying Termination; provided, however, that no amount that is subject to the Section 409A Rules shall be reduced or eliminated until all amounts that are not subject to the Section 409A Rules have been eliminated, and then all such amounts that are subject to the Section 409A Rules shall not be reduced in reverse order but shall be reduced proportionally. The determination of the base amount, the present value of the parachute payments, and the amount of any benefit to be reduced shall be determined by the Company’s independent auditors, or such other nationally recognized accounting firm mutually acceptable to the Company and Executive, in accordance with the principles of Section 280G of the Code and based upon the advice of any tax counsel selected by such auditors or other accounting firm.  If a reduced payment is made and through error or otherwise that payment, when aggregated with other payments from the Company (or its affiliates) used in determining if a “parachute payment” exists, exceeds one dollar ($1.00) less than three times the Executive’s base amount, the Executive shall immediately repay such excess to the Company upon notification that an overpayment has been made.
6. Miscellaneous Provisions.
(a) Definitions Incorporated by Reference. Reference is made to Annex I hereto for definitions of certain capitalized terms used in this Agreement, and such definitions are incorporated herein by such reference with the same effect as if set forth herein.
(b) No Other Mitigation or Offset; Legal Fees. The provisions of this Agreement are not intended to, nor shall they be construed to, require that Executive mitigate the amount of any payment or benefit provided for in this Agreement by seeking or accepting other employment. The amount of any payment or benefit provided for in this Agreement shall not be reduced by any compensation earned or health benefits received by Executive as the result of employment outside of the Partnership Group. Without limitation of the foregoing, the Company’s obligations to Executive under this Agreement shall not be affected by any set off, counterclaim, recoupment, defense or other claim, right or action that the Company may have against Executive.  The Company agrees to pay as incurred, to the full extent permitted by law, all legal fees and expenses Executive may reasonably incur as a result of any contest (regardless of the outcome thereof) by the Company or Executive of the validity or enforceability of, or liability under, any provision of this Agreement other than Section 4 or any guarantee of performance thereto (including as a result of any contest by Executive about the amount of any payment pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable Federal rate provided for in Code Section 7872(f)(2)(A).
(c) Cooperation. If Executive becomes entitled to benefits under Section 3 of this Agreement, Executive agrees, for a one-year period following the Date of Termination, to provide reasonable cooperation to the Partnership Group in response to reasonable requests made by the Company for information or assistance, including but not limited to, participating upon reasonable notice in conferences and meetings, providing documents or information, aiding in the analysis of documents, or complying with any other reasonable requests by the Company including execution of any agreements that are reasonably necessary, provided such cooperation relates to matters concerning Executive’s duties with the Partnership Group and the requests do not, in the good faith opinion of Executive, materially interfere with Executive’s other activities.
(d) Successors; Binding Agreement.

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(i) Except in the case of a merger involving the Company with respect to which under applicable law the surviving corporation of such merger will be obligated under this Agreement in the same manner and to the same extent as the Company would have been required if no such merger had taken place, the Company will require any successor, by purchase or otherwise, to all or substantially all of the business and/or assets of the Partnership Group, to execute an agreement whereby such successor expressly assumes and agrees to perform this Agreement in the same manner and to the same extent as the Company would have been required if no such succession had taken place and expressly agrees that Executive may enforce this Agreement against such successor. As used in this Agreement, “Company” shall mean the Company as hereinbefore defined and any successor to the business and/or assets of the Partnership Group as aforesaid that executes and delivers the agreement provided for in this Section 6(d)(i) or which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law.
(ii) This Agreement shall inure to the benefit of and be enforceable by Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If Executive should die prior to payment of any amount that is otherwise payable under this Agreement, any such amount shall be paid in accordance with the terms of this Agreement to Executive’s beneficiary as designated in writing by Executive and submitted to and accepted by the Company, or to Executive’s estate if no valid beneficiary designation exists or if the beneficiary dies prior to payment of such amount.  If Executive is married and wishes to name a beneficiary other than Executive’s spouse, that spouse must irrevocably consent in writing to the naming of a different beneficiary and such irrevocable written consent must be submitted to and accepted by the Company.  The Company is entitled, but not required, to rely on Executive’s representations as to his marital status and the identity of his spouse, if any, without any duty to inquire.  Executive is required to notify the Company promptly in writing of any change in his marital status.  
(e) Notice. All notices, consents, waivers, and other communications required under this Agreement must be in writing and will be deemed to have been duly given when (i) delivered by hand (with written confirmation of receipt), (ii) sent by facsimile (with confirmation of receipt), provided that a copy is mailed by certified mail, return receipt requested, or (iii) when received by the addressee, if sent by a nationally recognized overnight delivery service, in each case to the appropriate addresses and facsimile numbers set forth below (or to such other addresses and facsimile numbers as a party may designate by notice to the other parties):
If to the Company:
Compressco Partners GP Inc.
24955 Interstate 45 North
The Woodlands, Texas 77380
Attn: Chairman of the Board of Directors
Facsimile No.: 281-364-4398

If to Executive:
Timothy A. Knox
6904 Paradise Lane
Midland, Texas  79707

(f) Miscellaneous. No provisions of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing signed by Executive and by the Chairman of the Board or an officer of the Company specifically authorized by the Board. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.
(g) Validity. The interpretation, construction and performance of this Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Texas without regard to conflicts of laws principles. 

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The invalidity or unenforceability of any provisions of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, each of which shall remain in full force and effect.
(h) Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument.
(i) Descriptive Headings. Descriptive headings are for convenience only and shall not control or affect the meaning or construction of any provision of this Agreement.
(j) Corporate Approval. This Agreement has been approved by the Board, or a committee thereof, and has been duly executed and delivered by Executive and on behalf of the Company by its duly authorized representative.
(k) Disputes. The parties agree to resolve any claim or controversy arising out of or relating to this Agreement by binding arbitration under the Federal Arbitration Act before one arbitrator in the City of Houston, State of Texas, administered by the American Arbitration Association under its Commercial Arbitration Rules, and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. The Company shall reimburse Executive, on a current basis, for all legal fees and expenses incurred by Executive in connection with any dispute arising under this Agreement, including, without limitation, the fees and expenses of the arbitrator, unless the arbitrator finds Executive brought such claim in bad faith, in which event each party shall pay its own costs and expenses and Executive shall repay to the Company any fees and expenses previously paid on Executive’s behalf by the Company.
The parties stipulate that the provisions hereof shall be a complete defense to any suit, action, or proceeding instituted in any federal, state, or local court or before any administrative tribunal with respect to any controversy or dispute arising during the period of this Agreement and which is arbitrable as herein set forth. The arbitration provisions hereof shall, with respect to such controversy or dispute, survive the termination of this Agreement.
(l) Withholding of Taxes. The Company may withhold from any amounts payable under this Agreement all taxes it is required to withhold pursuant to any applicable law or regulation.
(m) No Guarantee of Tax Consequences.  The Company makes no commitment or guarantee to Executive that any federal, state or local tax treatment will apply or be available to any person eligible for benefits under this Agreement and assumes no liability whatsoever for the tax consequences to Executive or to any other person eligible for benefits under this Agreement.
(n) Clawback Provisions. Notwithstanding any other provisions in this Agreement to the contrary, any incentive-based compensation, or any other compensation, payable pursuant to this Agreement or any other agreement or arrangement with the Company or an affiliate which is subject to recovery under any law, government regulation or stock exchange listing requirement, will be subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation or stock exchange listing requirement (or any policy adopted by the Company or an affiliate pursuant to any such law, government regulation or stock exchange listing requirement).
(o) No Employment Agreement. Nothing in this Agreement shall give Executive any rights to (or impose any obligations for) continued employment by the Company, any Affiliate, any member of the Partnership Group or any successors, nor shall it give the Company any rights (or impose any obligations) with respect to continued performance of duties by Executive for the Company or any of its affiliates or any successors.
(p) Entire Agreement. This instrument contains the entire agreement of Executive and the Company with respect to the subject matter hereof, and hereby expressly terminates, rescinds and replaces in full any prior and contemporaneous promises, representations, understandings, arrangements and agreements between the parties relating to the subject matter hereof, whether written or oral.  However, nothing in this Agreement shall affect Executive’s rights under such compensation and benefit plans and programs of the Company in which Executive may participate, except as may be explicitly provided in this Agreement.
[Signature Page Follows]

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IN WITNESS WHEREOF, the Company and Executive have executed this Agreement in one or more counterparts effective for all purposes as of the Effective Date.
COMPRESSCO PARTNERS GP INC.
By:    /s/Bass C. Wallace, Jr.    
Name:    Bass C. Wallace, Jr.
Title:    General Counsel

EXECUTIVE
/s/Timothy A. Knox        
Name:    Timothy A. Knox

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ANNEX I
TO
CHANGE OF CONTROL AGREEMENT
Definitions:
1. Accrued Obligations.  “Accrued Obligations” shall mean accrued but unpaid base salary through the Date of Termination, unpaid vacation and expense reimbursements payable to Executive, which shall be paid in accordance with the Company’s normal payroll and expense reimbursement practices and in accordance with this Agreement.
2. Affiliate.  “Affiliate” means (i) any entity in which the Company, directly or indirectly, owns 10% or more of the combined voting power, as determined by the Board, (ii) any “parent corporation” of the Company (as defined in Section 424(e) of the Code), (iii) any “subsidiary corporation” of any such parent corporation (as defined in Section 424(f) of the Code) of the Company and (iv) any trades or businesses, whether or not incorporated which are members of a controlled group or are under common control (as defined in Sections 414(b) or (c) of the Code) with the Company.
3. Annual Bonus.  “Annual Bonus” shall mean (i) any annual incentive award(s) payable to Executive pursuant to TETRA’s Cash Incentive Compensation Plan, or any successor plan as adopted by TETRA and in which the Executive participates, and (ii) any other annual cash incentive or bonus award(s) granted by the Company or TETRA to the Executive. 
4. Base Salary. “Base Salary” shall mean an Executive’s highest annual rate of base salary in effect at any time during the period beginning six (6) months preceding the Change of Control and throughout the Protected Period, without reduction by payroll deductions and withholdings, including but not limited to, elective contributions made on the Executive’s behalf pursuant to a plan maintained under Code Sections 125 or 401, and any other reductions of the Executive’s remuneration, but excluding bonuses, severance pay and other amounts in lieu of base salary and any other amounts not considered base salary under the Company’s normal payroll practices.
5. Board. “Board” shall mean the Board of Directors of the Company.
6. Cause. “Cause” shall mean the following: (i) a willful breach in any material respect by Executive of a fiduciary duty to the Company, any Affiliate, or any member of the Partnership Group; (ii) a conviction of Executive (or a plea of guilty or a plea of nolo contendere in lieu thereof) by a court of competent jurisdiction for any felony or, with respect to his employment, for a crime involving fraud, embezzlement, dishonesty or moral turpitude, from which conviction no further appeal may be taken; (iii) the failure of the Executive to substantially follow the reasonable and lawful written instructions or policies of the Board or of the Company with respect to the services to be rendered and the manner of rendering such services by Executive; (iv) the willful failure of Executive to render any material services to the Company, any Affiliate, or to any member of the Partnership Group in accordance with any employment or similar arrangement to which Executive is subject, which failure amounts to a material neglect of Executive’s duties to the Company or such other entity.  Notwithstanding the foregoing, Executive’s employment shall not be deemed to have been terminated for Cause unless (A) reasonable notice shall have been given to him setting forth in detail the reasons for the Company’s intention to terminate for Cause, and if such Termination is pursuant to clause (i), (iii) or (iv) above and such breach or action is curable, only if Executive has been provided a period of thirty (30) days from receipt of such notice to cease the actions or inactions or otherwise cure such breach, and he has not done so; (B) an opportunity shall have been provided for the Executive to be heard before the Board; and (C) if such Termination is pursuant to clause (i), (ii) or (iii) above, delivery shall have been made to Executive of a notice of Termination from the Board finding that in the good faith opinion of a majority of the Board (excluding the Executive, if applicable) that the condition set forth in clause (i), (ii) or (iii) above has been satisfied.  
7. Change of Control. A “Change of Control” shall be deemed to have occurred upon any of the following events:
(a) As it relates to the Partnership Group:

Annex I-1

(i) any transaction or series of transactions that results in any Person or group of Persons other than the Company (or its successor or survivor by way of merger, consolidation, or some other transaction, or a parent or subsidiary thereof) or any Affiliate of the Company acquiring an ownership interest, directly or indirectly, in twenty-five percent (25%) or more of the Partnership (or its successor or survivor by way of merger, consolidation, or some other transaction, or a parent or subsidiary thereof);
(ii) the limited partners of the Partnership approve, in one transaction or a series of transactions, a plan of complete liquidation of the Partnership;
(iii) the sale or other disposition by either the Company or the Partnership of all or substantially all of its assets in one or more transactions to any Person other than the Company or any Affiliate of the Company; or 
(iv) a transaction resulting in a Person other than the Company (or its successor or survivor by way of merger, consolidation, or some other transaction, or a parent or subsidiary thereof) or any Affiliate thereof being the general partner of the Partnership (or its successor or survivor by way of merger, consolidation, or some other transaction, or a parent or subsidiary thereof).
(b) As it relates to TETRA:
(i) any Person other than (A) TETRA or any of its subsidiaries, (B) any employee benefit plan of TETRA or any of its subsidiaries, (C) or any affiliate (which, for purposes herein, shall have the same meaning as Affiliate as defined herein) of TETRA, (D) a company owned, directly or indirectly, by stockholders of TETRA in substantially the same proportions as their ownership of TETRA, or (E) an underwriter temporarily holding securities pursuant to an offering of such securities, becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of TETRA representing more than 50% of the shares of voting stock of TETRA then outstanding; 
(ii) the consummation of any merger, reorganization, business combination or consolidation of TETRA or one of its subsidiaries with or into any other company, other than a merger, reorganization, business combination or consolidation which would result in the holders of the voting securities of TETRA outstanding immediately prior thereto holding securities which represent immediately after such merger, reorganization, business combination or consolidation more than 50% of the combined voting power of the voting securities of TETRA or the surviving company or the parent of such surviving company;
(iii) the consummation of a sale or disposition by TETRA of all or substantially all of TETRA’s assets, other than a sale or disposition if the holders of the voting securities of TETRA outstanding immediately prior thereto hold securities immediately thereafter which represent more than 50% of the combined voting power of the voting securities of the acquiror, or parent of the acquiror, of such assets;
(iv) the stockholders of TETRA approve a plan of complete liquidation or dissolution of TETRA; or
(v) individuals who, as of the date of this Agreement, constitute the Board of Directors of TETRA (the “Incumbent TETRA Board”) cease for any reason to constitute at least a majority of the Board of Directors of TETRA; provided, however, that any individual becoming a director subsequent to the date of this Agreement whose election, or nomination for election by TETRA’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent TETRA Board, shall be considered as though such individual were a member of the Incumbent TETRA Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an election contest with respect to the election or removal of directors or other solicitation of proxies or consents by or on behalf of a person other than the Board of Directors of TETRA.
Notwithstanding the foregoing, however, in any circumstance or transaction in which compensation would be subject to the income tax under the Section 409A Rules if the foregoing definition of “Change of Control” were to apply, but would not be so subject if the term “Change of Control” were defined herein to mean a “change in control event” 

Annex I-2

within the meaning of Treasury Regulation Section 1.409A-3(i)(5), then “Change of Control” means, but only to the extent necessary to prevent such compensation from becoming subject to the income tax under the Section 409A Rules, a transaction or circumstance that satisfies the requirements of both (1)  a Change of Control under the applicable clauses (i) through (v) above, as applicable, and (2) a “change in control event” within the meaning of Treasury Regulation Section 1.409A-3(i)(5).
8. Code. “Code” shall mean the Internal Revenue Code of 1986, as amended.
9. Confidential Information. “Confidential Information” means and includes all confidential and/or proprietary information, trade secrets and “know-how” and compilations of information of any kind, type or nature (tangible and intangible, written or oral, and including information contained, stored or transmitted through any electronic medium), whether owned by the Partnership Group, disclosed to the Partnership Group in confidence by third parties or licensed from any third parties, which, at any time during Executive’s employment by the Company, is developed, designed or discovered or otherwise acquired or learned by Executive and which relates to the Partnership Group or its partners, business, services, products, processes, properties or assets, customers, clients, suppliers, vendors or markets or such third parties.  Notwithstanding the foregoing, Confidential Information shall not include any information that becomes generally available to the public other than as a result of any disclosure or act of Executive in violation of the terms of this Agreement.  
10. Date of Qualifying Termination.  “Date of Qualifying Termination” shall mean, assuming a Qualifying Termination occurs, the later of the Date of Termination or the date of a Change of Control.  
11. Date of Termination. “Date of Termination” shall mean the date Executive experiences a Termination.
12. Disability. “Disability” means Executive is entitled to long-term disability benefits under the Company’s long-term disability plan.
13. Exchange Act. “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.
14. Good Reason. “Good Reason” shall mean the occurrence of any of the following without Executive’s express written consent:
(a) A material diminution in Executive’s authority, duties or responsibilities, which shall include, without limitation, Executive no longer acting as the President of the Company or having the authority, duties or responsibilities associated with such position;
(b) A material diminution in Executive’s Base Salary.
(c) A material reduction in Executive’s Target Annual Bonus percentage opportunity and Target Long Term Bonus percentage opportunity as in effect immediately prior to the Change of Control;
(d) A material reduction in Executive’s employee benefits (without regard to bonus compensation, if any) if such reduction results in Executive receiving benefits which are, in the aggregate, materially less than the benefits received by other comparable officers of the Company generally;
(e) Executive’s being required to be based at any other office or location of employment more than 50 miles from Executive’s primary office or location of employment immediately prior to the Change of Control; 
(f) The failure of the Company to obtain an assumption of this Agreement by any successor as contemplated in Section 6(d); or
(g) Any other action or inaction that constitutes a material breach by the Company or by any successor of the terms of this Agreement.

Annex I-3

Executive must give the Company a Notice of Termination within 90 days of the date of initial existence of the condition constituting Good Reason. If Executive fails to give such Notice of Termination timely, Executive shall be deemed to have waived all rights Executive may have under this Agreement with respect to such condition. The Company shall have 30 days from the date of such Notice of Termination to cure the condition. If the Company cures the condition, such Notice of Termination shall be deemed rescinded. If the Company fails to cure the condition timely, Executive shall be deemed to have terminated employment at the end of such 30-day period.
15. IRS. “IRS” shall mean the Internal Revenue Service.
16. Long Term Bonus.  “Long Term Bonus” shall mean (i) any long term incentive award(s) payable to Executive pursuant to the TETRA’s Cash Incentive Compensation Plan, or any successor plan as adopted by TETRA and in which the Executive participates, and (ii) any other long term cash incentive or bonus award(s) granted by the Company or TETRA to the Executive.
17. Notice of Termination. “Notice of Termination” shall mean a written notice that sets forth in reasonable detail the facts and circumstances for Termination for Good Reason.  Such Notice of Termination shall be subject to the Company’s 30-day cure period.
18. Person. “Person” shall mean any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act).
19. Protected Period. The “Protected Period” shall mean the period of time beginning with the Change of Control and ending on the two-year anniversary of such Change of Control or Executive’s death, if earlier; provided, however, if Executive’s employment with the Company is terminated by the Company other than for Cause during the Term and within six months prior to the date on which a Change of Control occurs (e.g., not during the Protected Period), and it is reasonably demonstrated by Executive that such termination was at the request of a third party who has taken steps reasonably calculated to effect the Change of Control, or otherwise arose in connection with or anticipation of the Change of Control, then for purposes of determining whether a Qualifying Termination has occurred and only for such purposes, the Change of Control shall be deemed to have occurred on the date immediately prior to the Date of Termination and Executive shall be deemed to have experienced a Qualifying Termination by the Company other than for Cause.
20. Qualifying Termination. A “Qualifying Termination” shall mean Termination occurring during the Protected Period that is the result of either (a) a unilateral and involuntary Termination by the Company other than for Cause, when Executive remains willing and able to continue providing services or (b) resignation occurring by Executive for Good Reason. Termination of Executive’s employment during the Protected Period for any other reason, including Executive’s death or Disability, a Termination by the Company for Cause or a Termination by Executive other than for Good Reason shall not constitute a Qualifying Termination.
21. Partnership Group. “Partnership Group” shall mean the Company, the Partnership, and all direct and indirect subsidiaries of the Company and the Partnership.
22. Restricted Area. “Restricted Area” shall mean any state in the United States, or any country in which the Partnership Group engages in any Restricted Business at the Date of Termination or within the six (6) month period preceding the Date of Termination.
23. Restricted Business. “Restricted Business” shall mean any business or activity that is competitive with a business in which the Partnership Group engaged during the twelve month period immediately preceding the Termination. 
24. Section 409A Rules.  “Section 409A Rules” shall mean Section 409A of the Code and the Treasury Regulations and administrative guidance promulgated thereunder
25. Target Annual Bonus. “Target Annual Bonus” shall mean the target incentive award opportunity for Executive as established with respect to any Annual Bonus.

Annex I-4

26. Target Long Term Bonus.  “Target Long Term Bonus” shall mean the target incentive award opportunity for Executive as established with respect to any Long Term Bonus.   
27. Term. “Term” shall have the meaning set forth in Section 1 of this Agreement.
28. Termination. “Termination” shall mean the permanent cessation of the provision of services for compensation by Executive to the Company and all affiliates and successors of the foregoing in any capacity, including but not limited to that of an employee or an independent contractor, where Executive and the Company reasonably anticipate that no further services will be performed and which constitutes a “separation from service” within the meaning of the Section 409A Rules. 
29. Termination Year. “Termination Year” shall mean the calendar year during which the Date of Termination occurs.

Annex I-5

EXHIBIT A
TO
CHANGE OF CONTROL AGREEMENT

RELEASE AGREEMENT
This Release Agreement (“Release Agreement”) is entered into by and between Timothy A. Knox (“Executive”) and Compressco Partners GP Inc., a Delaware corporation (the “Company”), as the general partner of Compressco Partners L.P. (the “Partnership”) as follows:
WHEREAS, Executive and the Company have entered into that certain Change of Control Agreement (the “Change of Control Agreement”) dated August 4, 2014 which sets forth certain covenants and agreements between the parties relating to a Change of Control including, without limitation, certain payments and benefits to be provided by the Company to Executive upon a Qualifying Termination (as defined in the Change of Control Agreement); and 
WHEREAS, the Change of Control Agreement contemplates that Executive will execute and deliver to the Company this Release Agreement within 50 days of a Qualifying Termination, and the Executive and the Company desire to execute this Release Agreement to resolve all issues relating to the employment of Executive by the Company, its Affiliates and any member of the Partnership Group.
NOW THEREFORE, in consideration of the mutual promises and covenants set forth herein and in the Change of Control Agreement, the parties agree as follows:
1.    Definitions.  All capitalized terms not otherwise defined in this Release Agreement shall have the meaning ascribed thereto in the Change of Control Agreement.
2.    Qualifying Termination Payments and Conditions.
(a)    Executive and the Company acknowledge and agree that the Date of Termination is _______________, 201__. 
(b)    Subject to the terms and conditions of the Change of Control Agreement, including Executive’s execution and delivery of this Release Agreement and non-revocation of the ADEA Release contained herein, the Company agrees pay to Executive the benefits described in Section 3 of the Change of Control Agreement in the manner set forth therein.   
3.    General Release.  In consideration of the benefits set forth herein and in the Change of Control Agreement, Executive hereby fully, finally, and completely releases the Company, the Partnership, TETRA, their respective predecessors, successors, subsidiaries, stockholders, unitholders and affiliates and the officers, directors, partners, managers, control persons, employees, agents, attorneys, representatives and assigns of any of them (collectively, the “Released Parties”), from any and all liabilities, claims, actions, losses, expenses, demands, costs, fees, damages and/or causes of action, of whatever kind or character, whether now known or unknown (collectively, “Claims”), arising from, relating to, or in any way connected with, any facts or events occurring on or before the execution of this Release Agreement that he/she may have against any Released Parties, including, but not limited to any such Claims arising out of or in any way related to Executive’s employment with the Company, an Affiliate, or any member of the Partnership Group, or the termination of such employment, including but not limited to, any violation of any federal, state or local statute, any breach of contract, any wrongful termination, or other tort or cause of action.  Executive confirms that this Release Agreement was neither procured by fraud nor signed under duress or coercion.  Further, Executive waives and releases the Released Parties from any Claims that this Release Agreement was procured by fraud or signed under duress or coercion so as to make the Release Agreement not binding.  Executive understands and agrees that by signing this Release Agreement, he is giving up the right to pursue any legal Claims released herein that he may currently have against any Released Parties, whether or not he is aware of such Claims, and specifically agrees and covenants not to bring any legal action for any Claims released herein.  The only claims that are 

Exhibit A-1

excluded from this Release Agreement are Claims arising after the date of this Release Agreement, if any, including any future Claims relating to the Company’s performance of its obligations under the Change of Control Agreement and any Claims that cannot be waived by law; Executive does waive, however, his right to any monetary recovery if any governmental agency pursues any claims on his behalf.  
4.    ADEA Release.  Executive hereby completely and forever releases and irrevocably discharges the Released Parties, from any and all Claims arising under the Age Discrimination in Employment Act (“ADEA”) on or before the date Executive signs this Release Agreement (the “ADEA Release”), and hereby acknowledges and agrees that: (i) this Release Agreement, including the ADEA Release, was negotiated at arm’s length; (ii) this Release Agreement, including the ADEA Release, is worded in a manner that Executive fully understands; (iii) Executive specifically waives any rights or claims under the ADEA; (iv) Executive knowingly and voluntarily agrees to all of the terms set forth in this Release Agreement, including the ADEA Release; (v) Executive acknowledges and understands that any Claims under the ADEA that may arise after the date of this Release Agreement are not waived; (vi) the rights and claims waived in this Release Agreement, including the ADEA Release, are in exchange for consideration over and above anything to which Executive was already entitled; (vii) Executive has been and hereby is advised in writing to consult with an attorney prior to executing the Release Agreement, including the ADEA Release; (viii) Executive acknowledges that he has been given a period of up to twenty-one (21) days from receipt of this Release Agreement to consider the ADEA Release prior to executing it and acknowledges and agrees that any discussions between Executive and the Company concerning the terms of this Release Agreement and/or any change in the terms of this Release Agreement after the date that Executive first receives this Release Agreement shall not affect or restart such twenty-one (21) day consideration period; and (ix) Executive understands that he has been given a period of seven (7) days from the date of the execution of this Release Agreement to revoke the ADEA Release, and understands and acknowledges that the ADEA Release will not become effective or enforceable until the revocation period has expired.  If Executive elects to revoke this ADEA Release, revocation must be in writing and presented to __________________, __________________, Compressco Partners GP Inc., 24955 Interstate 45 North, The Woodlands, Texas  77380, within seven (7) days from the date of the execution of the Release Agreement.  
5.    Miscellaneous.  This Release Agreement is being executed and delivered pursuant to the terms and provisions of the Change of Control Agreement and shall not affect or diminish any of the rights and obligations of the parties thereunder, which shall continue to be effective and survive the execution of this Release Agreement.  This Release Agreement shall be subject to the terms and provision of Section 6 of the Change of Control Agreement, which is incorporated herein, mutatis mutandis.
	
			
	COMPRESSCO PARTNERS GP INC.

By:
Its:
Date:
	 
	TIMOTHY A. KNOX

Date:
Address:

Exhibit A-2Exhibit 4.1

 

 

 

Dyax Corp.

 

and

 

__________________________, as Trustee

 

_____________

 

INDENTURE

 

Dated as of ______________, _____

 

 

 

    	 

    	 

    

 

INDENTURE, dated as of ________, _____,
by and between Dyax Corp., a Delaware corporation, as Issuer (the “Company”), and ________________________,
a _____________ organized under the laws of ___________________, as Trustee (the “Trustee”).

 

RECITALS OF THE COMPANY

 

The Company has duly authorized the execution
and delivery of this Indenture to provide for the issuance from time to time of its debentures, notes or other evidences of indebtedness
to be issued in one or more series (the “Securities”), as herein provided, up to such principal amount as may
from time to time be authorized in or pursuant to one or more resolutions of the Board of Directors or by supplemental indenture.

 

All things necessary to make this Indenture
a valid agreement of the Company in accordance with its terms have been done, and the execution and delivery thereof have been
in all respects duly authorized by the parties hereto.

 

NOW, THEREFORE, THIS INDENTURE WITNESSETH:

 

Each party agrees as
follows for the benefit of the other parties and for the equal and ratable benefit of the Holders of the Securities issued under
this Indenture:

 

Article
1

DEFINITIONS AND INCORPORATION BY REFERENCE

 

		1.1	Definitions.

 

“Affiliate” of any specified
Person means any other Person which directly or indirectly through one or more intermediaries controls, or is controlled by, or
is under common control with, such specified Person. For the purposes of this definition, “control” (including, with
correlative meanings, the terms “controlling,” “controlled by,” and “under common control with”),
as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction
of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise.

 

“Agent” means any Registrar,
Paying Agent, co-registrar or agent for service of notices and demands.

 

“Board of Directors”
means the Board of Directors of the Company or any committee authorized to act therefor.

 

“Board Resolution” means
a copy of a resolution certified pursuant to an Officers’ Certificate to have been duly adopted by the Board of Directors
of the Company and to be in full force and effect on the date of such certification, and delivered to the Trustee.

 

“Capital Stock” means,
with respect to any Person, any and all shares or other equivalents (however designated) of capital stock, partnership interests
or any other participation, right or other interest in the nature of an equity interest in such Person or any option, warrant or
other security convertible into any of the foregoing.

 

    	 

    	 

    

  

“Company” means the party
named as such in the first paragraph of this Indenture until a successor replaces such party pursuant to Article 5 of this Indenture,
and thereafter means the successor and any other primary obligor on the Securities.

 

“Company Order” means
a written order signed in the name of the Company by two Officers, one of whom must be its Chief Executive Officer or its Chief
Financial Officer.

 

“Company Request” means
any written request signed in the name of the Company by its Chief Executive Officer, its President, any Vice President, its Chief
Financial Officer or its Treasurer and attested to by the Secretary or any Assistant Secretary of the Company.

 

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

 

“Default” means any event
that is, or with the passing of time or giving of notice or both would be, an Event of Default.

 

“Depositary” means, with
respect to the Securities of any Series issuable or issued in whole or in part in the form of one or more Global Securities, the
Person designated as Depositary for such Series by the Company, which Depositary shall be a clearing agency registered under the
Exchange Act, until a successor Depositary shall have become such pursuant to the applicable provisions of this Indenture, and
thereafter “Depositary” shall mean each Person who is then a Depositary hereunder, and if at any time there
is more than one such Person, such Persons.

 

“Dollars” means the currency
of the United States of America.

 

“Euro”
means the single currency of participating member states of the economic and monetary union as contemplated in the Treaty on European
Union.

 

“Exchange Act” means
the Securities Exchange Act of 1934, as amended.

 

“Foreign Currency” means
any currency or currency unit issued by a government other than the government of the United States of America.

 

“Foreign Government Obligations”
means with respect to Securities of any Series that are denominated in a Foreign Currency, (i) direct obligations of the government
that issued or caused to be issued such currency for the payment of which obligations its full faith and credit is pledged or (ii) obligations
of a person controlled or supervised by or acting as an agency or instrumentality of such government the timely payment of which
is unconditionally guaranteed as a full faith and credit obligation by such government, which, in either case under clauses (i)
or (ii), are not callable or redeemable at the option of the issuer thereof.

 

“GAAP” means generally
accepted accounting principles consistently applied as in effect in the United States from time to time.

 

    	- 2 -

    	 

    

  

“Global Security” or
“Global Securities” means a Security or Securities, as the case may be, in the form established pursuant to
Section 2.2, evidencing all or part of a Series of Securities issued to the Depositary for such Series or its nominee, registered
in the name of such Depositary or nominee, and bearing the legend set forth in Section 2.15(c) (or such legend as may be specified
as contemplated by Section 2.2 for such Securities).

 

“Holder” or “Securityholder”
means the Person in whose name a Security is registered on the Registrar’s books.

 

“Indebtedness” means
(without duplication), with respect to any Person, any indebtedness at any time outstanding, secured or unsecured, contingent or
otherwise, which is for borrowed money (whether or not the recourse of the lender is to the whole of the assets of such Person
or only to a portion thereof), or evidenced by bonds, notes, debentures or similar instruments or representing the balance deferred
and unpaid of the purchase price of any property (excluding any balances that constitute accounts payable or trade payables, and
other accrued liabilities arising in the ordinary course of business) if and to the extent any of the foregoing indebtedness would
appear as a liability upon a balance sheet of such Person prepared in accordance with GAAP.

 

“Indenture” means this
Indenture as amended, restated or supplemented from time to time.

 

“Interest Payment
Date” means the Stated Maturity of an installment of interest on Securities of any Series.

 

“Lien” means, with respect
to any property or assets of any Person, any mortgage or deed of trust, pledge, hypothecation, assignment, deposit arrangement,
security interest, lien, charge, easement, encumbrance, preference, priority, or other security agreement or preferential arrangement
of any kind or nature whatsoever on or with respect to such property or assets (including, without limitation, any capitalized
lease obligation, conditional sales, or other title retention agreement having substantially the same economic effect as any of
the foregoing).

 

“Maturity Date” when
used with respect to any Security or installment of principal thereof, means the date on which the principal of such Security or
such installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration
of acceleration, call for redemption, notice of option to elect payment or otherwise.

 

“Officer” means the Chief
Executive Officer, the President, any Vice President, the Chief Financial Officer, the Treasurer or the Secretary of the Company
or any other officer designated by the Board of Directors, as the case may be.

 

“Officers’ Certificate”
means, with respect to any Person, a certificate signed by the Chief Executive Officer, the President or any Vice President, and
the Chief Financial Officer or any Treasurer of such Person that shall comply with applicable provisions of this Indenture.

 

“Opinion of Counsel”
means a written opinion from legal counsel which counsel is reasonably acceptable to the Trustee.

 

    	- 3 -

    	 

    

  

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

 

“Redemption Date” when
used with respect to any Security of a Series to be redeemed, means the date fixed for such redemption pursuant to this Indenture.

 

“Responsible Officer”
when used with respect to the Trustee, means any officer or officers within the corporate trust department 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 who are responsible for compliance with the obligations of the Trustee as set forth
in this Indenture and also means, with respect to a particular corporate trust matter or obligation required of the Trustee as
set forth in this Indenture, any other officer to whom such matter is referred because of his knowledge of and familiarity with
the particular subject.

 

“SEC” means the United
States Securities and Exchange Commission as constituted from time to time or any successor performing substantially the same functions.

 

“Securities” means the
securities that are issued under this Indenture, as amended or supplemented from time to time pursuant to this Indenture.

 

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

 

“Series” or “Series
of Securities” means each series of debentures, notes or other debt instruments of the Company created pursuant to Sections
2.1 or 2.2 hereof.

 

“Significant Subsidiary”
means (i) any direct or indirect Subsidiary of the Company that would be a “significant subsidiary” as defined in Article
1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such regulation is in effect on the date hereof,
or (ii) any group of direct or indirect Subsidiaries of the Company that, taken together as a group, would be a “significant
subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such regulation
is in effect on the date hereof.

 

“Stated Maturity” means,
when used with respect to any Security of any Series or any installment of principal thereof or interest thereon, means the date
specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest
is due and payable and, when used with respect to any other Indebtedness, means the date specified in the instrument governing
such Indebtedness as the fixed date on which the principal of such Indebtedness, or any installment of interest thereon, is due
and payable.

 

“Subsidiary” of any specified
Person means any corporation, limited liability company, partnership, joint venture, association or other business entity, whether
now existing or hereafter organized or acquired, (i) in the case of a corporation, of which more than 50% of the total voting
power of the Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors
thereof is held, directly or indirectly by such Person or any of its Subsidiaries; or (ii) in the case of a partnership, joint
venture, association or other business entity, with respect to which such Person or any of its Subsidiaries has the power to direct
or cause the direction of the management and policies of such entity by contract or otherwise or if in accordance with GAAP such
entity is consolidated with such Person for financial statement purposes.

 

    	- 4 -

    	 

    

  

“TIA” means the Trust
Indenture Act of 1939 (15 U.S. Code Section 77aaa-77bbbb) as in effect on the date of this Indenture (except as provided
in Section 8.3 hereof).

 

“Trustee” means the party
named as such in this Indenture until a successor replaces it pursuant to this Indenture and thereafter means the successor.

 

“U.S. Government Obligations”
means direct non-callable obligations of, or non-callable obligations guaranteed by, the United States of America for the payment
of which obligation or guarantee the full faith and credit of the United States of America is pledged.

 

		1.2	Other Definitions.

 

The definitions of the following terms may
be found in the sections indicated as follows:

 

	Term	Defined

in Section
	“Bankruptcy Law”	6.1
	“Business Day”	10.8
	“Covenant Defeasance”	9.3
	“Custodian”	6.1
	“Event of Default”	6.1
	“Journal”	10.16
	“Judgment Currency”	10.17
	“Legal Defeasance”	9.2
	“Legal Holiday”	10.8
	“Market Exchange Rate”	10.16
	“New York Banking Day”	10.17
	“Paying Agent”	2.4
	“Registrar”	2.4
	“Required Currency”	10.17
	“Service Agent”	2.4

 

		1.3	Incorporation by Reference of Trust Indenture Act.

 

Whenever this Indenture refers to a provision
of the TIA, the portion of such provision required to be incorporated herein in order for this Indenture to be qualified under
the TIA is incorporated by reference in and made a part of this Indenture. The following TIA terms used in this Indenture have
the following meanings:

 

“Commission” means the
SEC.

 

“indenture securities”
means the Securities.

 

“indenture securityholder”
means a Securityholder.

 

    	- 5 -

    	 

    

  

“indenture to be qualified”
means this Indenture.

 

“indenture trustee” or
“institutional trustee” means the Trustee.

 

“obligor on the indenture securities”
means the Company or any other obligor on the Securities.

 

All other terms used in this Indenture that
are defined by the TIA, defined in the TIA by reference to another statute or defined by SEC rule have the meanings therein assigned
to them.

 

		1.4	Rules of Construction.

 

Unless the context otherwise requires:

 

(1)         a
term has the meaning assigned to it herein, whether defined expressly or by reference;

 

(2)         an
accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP;

 

(3)         “or”
is not exclusive;

 

(4)         words
in the singular include the plural, and in the plural include the singular;

 

(5)         words
used herein implying any gender shall apply to each gender; and

 

(6)         the
words “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 sub-division.

 

Article
2

THE SECURITIES

 

		2.1	Issuable in Series.

 

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.
All Securities of a Series shall be identical except as may be set forth in a Board Resolution, a supplemental indenture or an
Officers’ Certificate detailing the adoption of the terms thereof pursuant to the authority granted under a Board Resolution.
In the case of Securities of a Series to be issued from time to time, the Board Resolution, Officers’ Certificate or supplemental
indenture may provide for the method by which specified terms (such as interest rate, Stated Maturity, record date or date from
which interest shall accrue) are to be determined. Securities may differ between Series in respect of any matters, provided
that all Series of Securities shall be equally and ratably entitled to the benefits of the Indenture.

 

    	- 6 -

    	 

    

 

		2.2	Establishment of Terms of Series of Securities.

 

At or prior to the issuance of any Securities
within a Series, the following shall be established (as to the Series generally, in the case of Subsection 2.2(1) and either as
to such Securities within the Series or as to the Series generally in the case of Subsections 2.2(2) through 2.2(25) by a Board
Resolution, a supplemental indenture or an Officers’ Certificate, in each case, pursuant to authority granted under a Board
Resolution:

 

(1)         the
title of the Series (which shall distinguish the Securities of that particular Series from the Securities of any other Series);

 

(2)         the
price or prices (expressed as a percentage of the principal amount thereof) at which the Securities of the Series will be issued;

 

(3)         any
limit upon the aggregate principal amount of the Securities of the Series which 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 the Series pursuant to Section 2.7, 2.8, 2.11, 3.6 or 8.5);

 

(4)         the
date or dates on which the principal of the Securities of the Series is payable;

 

(5)         the
rate or rates (which may be fixed or variable) per annum or, if applicable, the method used to determine such rate or rates (including,
but not limited to, any commodity, commodity index, stock exchange index or financial index) at which the Securities of the Series
shall bear interest, if any, the date or dates from which such interest, if any, shall accrue, the date or dates on which such
interest, if any, shall commence and be payable and any regular record date for the interest payable on any Interest Payment Date;

 

(6)         the
place or places where the principal of and interest and premium, if any, on the Securities of the Series shall be payable, or the
method of such payment, if by wire transfer, mail or other means;

 

(7)         if
applicable, the period or periods within which, the price or prices at which and the terms and conditions upon which the Securities
of the Series may be redeemed, in whole or in part, at the option of the Company;

 

(8)         the
obligation, if any, of the Company to redeem or purchase the Securities of the Series pursuant to any sinking fund or analogous
provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which and the terms
and conditions upon which Securities of the Series shall be redeemed or purchased, in whole or in part, pursuant to such obligation;

 

(9)         the
dates, if any, on which and the price or prices at which the Securities of the Series will be repurchased by the Company at the
option of the Holders thereof and other detailed terms and provisions of such repurchase obligations;

 

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(10)         if
other than denominations of $1,000 and any integral multiple thereof, the denominations in which the Securities of the Series shall
be issuable;

 

(11)         the
forms of the Securities of the Series in bearer (if to be issued outside of the United States of America) or fully registered form
(and, if in fully registered form, whether the Securities will be issuable as Global Securities);

 

(12)         if
other than the principal amount thereof, the portion of the principal amount of the Securities of the Series that shall be payable
upon declaration of acceleration of the maturity thereof pursuant to Section 6.2;

 

(13)         the
currency of denomination of the Securities of the Series, which may be Dollars or any Foreign Currency, including, but not limited
to, the Euro, and if such currency of denomination is a composite currency other than the Euro, the agency or organization, if
any, responsible for overseeing such composite currency;

 

(14)         the
designation of the currency, currencies or currency units in which payment of the principal of and interest and premium, if any,
on the Securities of the Series will be made;

 

(15)         if
payments of principal of, interest or premium, if any, on the Securities of the Series are to be made in one or more currencies
or currency units other than that or those in which such Securities are denominated, the manner in which the exchange rate with
respect to such payments will be determined;

 

(16)         the
manner in which the amounts of payment of principal of and interest and premium, if any, on the Securities of the Series will be
determined, if such amounts may be determined by reference to an index based on a currency or currencies or by reference to a commodity,
commodity index, stock exchange index or financial index;

 

(17)         the
provisions, if any, relating to any security provided for the Securities of the Series;

 

(18)         any
addition to or change in the Events of Default which applies to any Securities of the Series and any change in the right of the
Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section
6.2;

 

(19)         any
addition to or change in the covenants set forth in Articles 4 or 5 which applies to Securities of the Series;

 

(20)         any
other terms of the Securities of the Series (which terms shall not be inconsistent with the provisions of this Indenture, except
as permitted by Section 8.1, but which may modify or delete any provision of this Indenture insofar as it applies to such Series).

 

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(21)         any
depositories, interest rate calculation agents, exchange rate calculation agents or other agents with respect to Securities of
such Series if other than those appointed herein;

 

(22)         the
terms and conditions, if any, upon which the Securities and any guarantees thereof shall be subordinated in right of payment to
other indebtedness of the Company or any guarantor;

 

(23)         the
form and terms of any guarantee of the Securities;

 

(24)         if
applicable, that the Securities of the Series, in whole or any specified part, shall be defeasible pursuant to Article 9; and

 

(25)         if
applicable, that the Securities of the Series, in whole or any specified part, shall be convertible into equity securities of the
Company

 

All Securities of any one Series need not
be issued at the same time and may be issued from time to time, consistent with the terms of this Indenture, if so provided by
or pursuant to the Board Resolution, supplemental indenture or Officers’ Certificate referred to above, and the authorized
principal amount of any Series may not be increased to provide for issuances of additional Securities of such Series, unless otherwise
provided in such Board Resolution, supplemental indenture or Officers’ Certificate.

 

		2.3	Execution and Authentication.

 

The Securities shall be executed on behalf
of the Company by two Officers of the Company or an Officer and an Assistant Secretary of the Company. Each such signature may
be either manual or facsimile. The Company’s seal may be impressed, affixed, imprinted or reproduced on the Securities and
may be in facsimile form.

 

If an Officer whose signature is on a Security
no longer holds that office at the time the Security is authenticated, the Security shall nevertheless be valid. A Security shall
not be valid until authenticated by the manual signature of the Trustee or an authenticating agent. The signature shall be conclusive
evidence that the Security has been authenticated under this Indenture.

 

The Trustee shall
at any time, and from time to time, authenticate Securities for original issue in the principal amount provided in the Board Resolution,
supplemental indenture hereto or Officers’ Certificate, upon receipt by the Trustee of a Company Order. Such Company Order
may authorize authentication and delivery pursuant to oral or electronic instructions from the Company or its duly authorized agent
or agents, which oral instructions shall be promptly confirmed in writing. Each Security shall be dated the date of its authentication
unless otherwise provided by a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate.

 

The aggregate principal amount of Securities
of any Series outstanding at any time may not exceed any limit upon the maximum principal amount for such Series set forth in the
Board Resolution, supplemental indenture hereto or Officers’ Certificate delivered pursuant to Section 2.2, except as
provided in Section 2.8.

 

    	- 9 -

    	 

    

 

Prior to the issuance of Securities of any
Series, the Trustee shall have received and (subject to Section 7.2) shall be fully protected in relying on: (a) the Board Resolution,
supplemental indenture hereto or Officers’ Certificate establishing the form of the Securities of that Series or of Securities
within that Series and the terms of the Securities of that Series or of Securities within that Series, (b) an Officers’ Certificate
complying with Section 10.4, and (c) an Opinion of Counsel complying with Section 10.4.

 

The Trustee shall have the right to decline
to authenticate and deliver any Securities of such Series: (a) if the Trustee, being advised in writing by outside counsel, determines
that such action may not lawfully be taken; or (b) if the Trustee in good faith by its board of directors or trustees, executive
committee or a trust committee of directors and/or vice-presidents shall reasonably determine that such action would expose the
Trustee to personal liability, or cause it to have a conflict of interest with respect to Holders of any then outstanding Series
of Securities.

 

The Trustee may appoint an authenticating
agent reasonably acceptable to the Company to authenticate Securities. An authenticating agent may authenticate Securities whenever
the Trustee may do so. Any appointment shall be evidenced by instrument signed by an authorized officer of the Trustee, a copy
of which shall be furnished to the Company. Each reference in this Indenture to authentication by the Trustee includes authentication
by such agent. An authenticating agent has the same rights as an Agent to deal with the Company or an Affiliate of the Company.

 

		2.4	Registrar and Paying Agent.

 

The Company shall maintain an office or
agency where Securities of any Series may be presented for registration of transfer or for exchange (“Registrar”),
an office or agency located in the Borough of Manhattan, City of New York, State of New York where Securities may be presented
for payment (“Paying Agent”), and an office or agency where notices and demands to or upon the Company in respect
of the Securities and this Indenture may be served (“Service Agent”). The Registrar shall keep a register of
the Securities and of their transfer and exchange. The Company may have one or more co-registrars and one or more additional paying
agents. The Company shall give prompt written notice to the Trustee of the location, and any change in the location, of such office
or agency. If at any time the Company shall fail to maintain any such required office or to furnish the Trustee with the address
thereof, such presentations, surrenders, notices and demands may be made or served at the address of the Trustee as set forth in
Section 10.2. Neither the Company nor any Affiliate of the Company may act as Paying Agent. The Company may change any Paying Agent,
Registrar or co-registrar without notice to any Securityholder.

 

The Company may also from time to time designate
one or more other offices or agencies where the Securities may be presented or surrendered for any or all such purposes and may
from time to time rescind such designations. The Company shall give prompt written notice to the Trustee of such designation or
rescission and of any change in the location of any such other office or agency.

 

    	- 10 -

    	 

    

 

The Company shall enter into an appropriate
agency agreement with any Registrar or Paying Agent not a party to this Indenture. The agreement shall implement the provisions
of this Indenture that relate to such Agent. The Company shall notify the Trustee of the name and address of any such Agent. If
the Company fails to maintain a Registrar or Paying Agent, or agent for service of notices and demands, or fails to give the foregoing
notice, the Trustee shall act as such. The Company hereby appoints the Trustee as the initial Registrar, Paying Agent and Service
Agent for each Series unless another Registrar, Paying Agent or Service Agent, as the case may be, is appointed prior to the time
Securities of that Series are first issued. The Company hereby initially designates the Corporate Trust Office of the Trustee as
such office of the Company.

 

		2.5	Paying Agent To Hold Assets in Trust.

 

The Trustee as Paying Agent shall, and the
Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for
the benefit of the Holders of any Series of Securities or the Trustee all assets held by the Paying Agent for the payment of principal
of, or interest or premium (if any) on, such Series of Securities (whether such assets have been distributed to it by the Company
or any other obligor on such Series of Securities), and the Company and the Paying Agent shall notify the Trustee in writing of
any Default by the Company (or any other obligor on such Series of Securities) in making any such payment. The Company at any time
may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee
may at any time during the continuance of any payment default with respect to any Series of Securities, upon written request to
a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed.
Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent, the Paying Agent
shall have no further liability for such assets.

 

		2.6	Securityholder Lists.

 

The Trustee shall preserve in as current
a form as is reasonably practicable the most recent list available to it of the names and addresses of Securityholders of each
Series of Securities. If the Trustee is not the Registrar, the Company shall furnish to the Trustee as of each regular record date
for the payment of interest on the Securities of a Series and before each related Interest Payment Date, and at such other times
as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names
and addresses of Securityholders of each Series of Securities.

 

		2.7	Transfer and Exchange.

 

When Securities of a Series are presented
to the Registrar with a request to register the transfer thereof, the Registrar shall register the transfer as requested if the
requirements of applicable law are met, and when such Securities of a Series are presented to the Registrar with a request to exchange
them for an equal principal amount of other authorized denominations of Securities of the same Series, the Registrar shall make
the exchange as requested. To permit transfers and exchanges, upon surrender of any Security for registration of transfer at the
office or agency maintained pursuant to Section 2.4 hereof, the Company shall execute and the Trustee shall authenticate Securities
at the Registrar’s request.

 

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If Securities are issued as Global Securities,
the provisions of Section 2.15 shall apply.

 

All Securities issued upon any registration
of transfer or exchange of Securities shall be the valid obligations of the Company, evidencing the same debt, and entitled to
the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange.

 

Every Security presented or surrendered
for registration of transfer or for exchange shall (if so required by the Company or the Registrar or a co-Registrar) be duly endorsed,
or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Registrar or a co-Registrar,
duly executed by the Holder thereof or his attorney duly authorized in writing.

 

Any exchange or transfer shall be without
charge, except that the Company may require payment by the Holder of a sum sufficient to cover any tax or other governmental charge
that may be imposed in relation to a transfer or exchange, but this provision shall not apply to any exchange pursuant to Section 2.11,
3.6 or 8.5 hereof. The Trustee shall not be required to register transfers of Securities of any Series or to exchange Securities
of any Series for a period of 15 days before the record date for selection for redemption of such Securities. The Trustee shall
not be required to exchange or register transfers of Securities of any Series called or being called for redemption in whole or
in part, except the unredeemed portion of such Security being redeemed in part.

 

		2.8	Replacement Securities.

 

If a mutilated Security is surrendered to
the Trustee or if the Holder of a Security presents evidence to the satisfaction of the Company and the Trustee that the Security
has been lost, destroyed or wrongfully taken, the Company shall issue and the Trustee shall authenticate a replacement Security
of the same Series and of like tenor and principal amount and bearing a number not contemporaneously outstanding. An indemnity
bond may be required by the Company or the Trustee that is sufficient in the reasonable judgment of the Company or the Trustee,
as the case may be, to protect the Company, the Trustee or any Agent from any loss which any of them may suffer if a Security is
replaced. The Company may charge such Holder for its reasonable, out-of-pocket expenses in replacing a Security, including the
fees and expenses of counsel. Every replacement Security shall constitute an additional obligation of the Company, whether or not
the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of
this Indenture equally and proportionally with any and all other Securities of that Series duly issued hereunder.

 

		2.9	Outstanding Securities.

 

Securities outstanding at any time are all
Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, and those described
in this Section 2.9 as not outstanding.

 

If a Security is replaced pursuant to Section
2.8 (other than a mutilated Security surrendered for replacement), it ceases to be outstanding until the Company and the Trustee
receive proof satisfactory to each of them that the replaced Security is held by a bona fide purchaser. A mutilated Security ceases
to be outstanding upon surrender of such Security and replacement thereof pursuant to Section 2.8.

 

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If a Paying Agent holds on a Redemption
Date or Maturity Date of a Series of Securities money sufficient to pay the principal of, premium, if any, and accrued interest
on Securities payable on that date and is not prohibited from paying such money to the Holders thereof pursuant to the terms of
this Indenture, then on and after that date such Securities cease to be outstanding and interest on them ceases to accrue.

 

Subject to Section 2.10, a Security does
not cease to be outstanding solely because the Company or an Affiliate holds the Security.

 

		2.10	Treasury Securities.

 

In determining whether
the Holders of the required principal amount of Securities of a Series have concurred in any request, demand, authorization, direction,
notice, consent or waiver, Securities of a Series owned by the Company or an Affiliate shall be disregarded, except that for the
purposes of determining whether the Trustee shall be protected in relying on any such request, demand, authorization, direction,
notice, consent or waiver only Securities of a Series that the Trustee knows are so owned shall be so disregarded.

 

		2.11	Temporary Securities.

 

Until definitive Securities are ready for
delivery, the Company may prepare and the Trustee shall authenticate temporary Securities. Temporary Securities shall be substantially
in the form, and shall carry all rights, of definitive Securities but may have variations that the Company considers appropriate
for temporary Securities. Without unreasonable delay, the Company shall prepare and the Trustee shall authenticate definitive Securities
in exchange for temporary Securities presented to it.

 

		2.12	Cancellation.

 

The Company at any
time may deliver Securities to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any
Securities surrendered to them for transfer, exchange or payment. At the direction of the Trustee, the Registrar or the Paying
Agent, and no one else, shall cancel and at the written request of the Company, shall dispose of all Securities surrendered for
transfer, exchange, payment or cancellation. If the Company shall acquire any of the Securities, such acquisition shall not operate
as a redemption or satisfaction of the Indebtedness represented by such Securities unless and until the same are surrendered to
the Trustee for cancellation pursuant to this Section 2.12.

 

		2.13	Payment of Interest; Defaulted Interest; Computation
of Interest.

 

Except as otherwise provided as contemplated
by Section 2.2 with respect to any Series of Securities, interest on any Security which is payable, and is punctually paid
or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security is registered at the
close of business on the regular record date for such interest, as provided in the Board Resolution, supplemental indenture hereto
or Officers’ Certificate establishing the terms of such Series.

 

    	- 13 -

    	 

    

  

With respect to any Holder with an aggregate
principal amount of Securities of any Series in an amount in excess of $2,000,000, upon receipt by the Trustee of a written request
from such Holder, payments of interest with respect to such Securities shall be made to such Holder by wire transfer of immediately
available funds. Each other Holder shall receive payments of interest by check or by transfer to an account maintained by such
Holder in the United States.

 

If the Company defaults in a payment of
interest on the Securities, it shall pay the defaulted amounts, plus any interest payable on defaulted amounts pursuant to Section
4.1 hereof, to the persons who are Securityholders on a subsequent special record date, which date shall be the fifteenth day next
preceding the date fixed by the Company for the payment of defaulted interest or the next succeeding Business Day if such date
is not a Business Day. At least 15 days before the special record date, the Company shall mail or cause to be mailed to each Securityholder,
with a copy to the Trustee, a notice that states the special record date, the payment date, and the amount of defaulted interest,
and interest payable on such defaulted interest, if any, to be paid.

 

Except as otherwise specified as contemplated
by Section 2.2 for Securities of any Series, interest on the Securities of each Series shall be computed on the basis of a
360-day year of twelve 30-day months.

 

		2.14	CUSIP Number.

 

The Company in issuing the Securities may
use one or more “CUSIP” numbers, and if so, the Trustee shall use the CUSIP number(s) in notices of redemption or exchange
as a convenience to Holders, provided that any such notice may state that no representation is made as to the correctness or accuracy
of the CUSIP number(s) printed in the notice or on the Securities, and that reliance may be placed only on the other identification
numbers printed on the Securities.

 

		2.15	Provisions for Global Securities.

 

(a)          A Board Resolution, a supplemental
indenture hereto or an Officers' Certificate shall establish whether the Securities of a Series shall be issued in whole or in
part in the form of one or more Global Securities, and the Depositary for such Global Securities or Securities.

 

    	- 14 -

    	 

    

  

(b)          Notwithstanding any provisions
to the contrary contained in Section 2.7 and in addition thereto, if, and only if the Depositary (i) at any time is unwilling or
unable to continue as Depositary for such Global Security or ceases to be a clearing agency registered under the Exchange Act and
(ii) a successor Depositary is not appointed by the Company within 90 days after the date the Company is so informed in writing
or becomes aware of the same, the Company promptly will execute and deliver to the Trustee definitive Securities, and the Trustee,
upon receipt of a Company Request for the authentication and delivery of such definitive Securities (which the Company will promptly
execute and deliver to the Trustee) and an Officers' Certificate to the effect that such Global Security shall be so exchangeable,
will authenticate and deliver definitive Securities, without charge, registered in such names and in such authorized denominations
as the Depositary shall direct in writing (pursuant to instructions from its direct and indirect participants or otherwise) in
an aggregate principal amount equal to the principal amount of the Global Security with like tenor and terms. Upon the exchange
of a Global Security for definitive Securities, such Global Security shall be canceled by the Trustee. Unless and until it is exchanged
in whole or in part for definitive Securities, as provided in this Section 2.15(b), a Global Security may not be transferred except
as a whole by the Depositary with respect to such Global Security to a nominee of such Depositary, by a nominee of such Depositary
to such Depositary or another nominee of such Depositary or by the Depositary or any such nominee to a successor Depositary or
a nominee of such a successor Depositary.

 

(c)          Any Global Security issued
hereunder shall bear a legend in substantially the following form:

 

"This Security is a Global Security
within the meaning of the Indenture hereinafter referred to, and is registered in the name of the Depositary or a nominee of the
Depositary. This Security is exchangeable for Securities registered in the name of a Person other than the Depositary or its nominee
only in the limited circumstances described in the Indenture, and may not be transferred except as a whole by the Depositary to
a nominee of the Depositary, by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary
or any such nominee to a successor Depositary or a nominee of such a successor Depositary."

 

(d)          The Depositary, as a Holder,
may appoint agents and otherwise authorize participants to give or take any request, demand, authorization, direction, notice,
consent, waiver or other action which a Holder is entitled to give or take under the Indenture.

 

(e)          Notwithstanding the other
provisions of this Indenture, unless otherwise specified as contemplated by Section 2.2, payment of the principal of, and interest
and premium, if any, on, any Global Security shall be made to the Depositary or its nominee in its capacity as the Holder thereof.

 

(f)          Except as provided in Section
2.15(e) above, the Company, the Trustee and any Agent shall treat a Person as the Holder of such principal amount of outstanding
Securities of any Series represented by a Global Security as shall be specified in a written statement of the Depositary (which
may be in the form of a participants' list for such Series) with respect to such Global Security, for purposes of obtaining any
consents, declarations, waivers or directions required to be given by the Holders pursuant to this Indenture, PROVIDED, that until
the Trustee is so provided with a written statement, it may treat the Depositary or any other Person in whose name a Global Security
is registered as the owner of such Global Security for the purpose of receiving payment of the principal of, and any premium and
(subject to Section 2.13) any interest on, such Global Security and for all other purposes whatsoever, and none of the Company,
the Trustee or any agent of the Company or the Trustee shall be affected by notice to the contrary.

 

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		2.16	Persons Deemed Owners.

 

Prior to due presentment of a Security for
registration of transfer, the Company, the Trustee, the Registrar and any agent of the Company, the Registrar or the Trustee may
treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of
principal of and any premium and (subject to Section 2.13) any interest on such Security and for all other purposes whatsoever,
and neither the Company, the Trustee, the Registrar nor any agent of the Company, the Registrar or the Trustee shall be affected
by notice to the contrary.

 

Article
3

REDEMPTION

 

		3.1	Notices of Trustee.

 

The Company may, with respect to any Series
of Securities, reserve the right to redeem and pay the Series of Securities or may covenant to redeem and pay the Series of Securities
or any part thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in such Securities or the
related Board Resolution, supplemental indenture or Officers’ Certificate. If a Series of Securities is redeemable and the
Company elects to redeem such Securities of a Series, it shall notify the Trustee of the Redemption Date and the principal amount
of Securities to be redeemed at least 35 days (unless a shorter notice shall be satisfactory to the Trustee) but not more than
60 days before the Redemption Date. Any such notice may be canceled at any time prior to notice of such redemption being mailed
to any Holder and shall thereby be void and of no effect.

 

		3.2	Selection by Trustee of Securities to Be Redeemed.

 

Unless otherwise indicated for a particular
Series of Securities by a Board Resolution, a supplemental indenture or an Officers’ Certificate, if fewer than all of the
Securities of a Series are to be redeemed, the Trustee shall select the Securities of a Series to be redeemed pro rata, by lot
or by any other method that the Trustee considers fair and appropriate and, if such Securities are listed on any securities exchange,
by a method that complies with the requirements of such exchange.

 

The Trustee shall make the selection from
Securities of a Series outstanding and not previously called for redemption and shall promptly notify the Company in writing of
the Securities selected for redemption and, in the case of any Security selected for partial redemption, the principal amount thereof
to be redeemed. Securities of a Series in denominations of $1,000 may be redeemed only in whole. The Trustee may select for redemption
portions of the principal of Securities of a Series that have denominations larger than $1,000. Securities of a Series and portions
of them it selects shall be in amounts of $1,000 or, with respect to Securities of any Series issuable in other denominations pursuant
to Section 2.2(10), the minimum principal denomination for each Series and integral multiples thereof. Provisions of this Indenture
that apply to Securities called for redemption also apply to portions of Securities called for redemption.

 

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		3.3	Notice of Redemption.

 

Unless otherwise indicated for a particular
Series by Board Resolution, a supplemental indenture hereto or an Officers’ Certificate, at least 30 days, and no more than
60 days, before a Redemption Date, the Company shall mail, or cause to be mailed, a notice of redemption by first-class mail to
each Holder of Securities to be redeemed at his or her last address as the same appears on the registry books maintained by the
Registrar.

 

The notice shall identify the Securities
to be redeemed (including the CUSIP number(s) thereof, if any) and shall state:

 

(1)         the
Redemption Date;

 

(2)         the
redemption price;

 

(3)         if
any Security of a Series is being redeemed in part, the portion of the principal amount of such Security of a Series to be redeemed
and that, after the Redemption Date and upon surrender of such Security of a Series, a new Security or Securities in principal
amount equal to the unredeemed portion will be issued;

 

(4)         the
name and address of the Paying Agent;

 

(5)         that
Securities of a Series called for redemption must be surrendered to the Paying Agent to collect the redemption price, and the place
or places where each such Security is to be surrendered for such payment;

 

(6)         that,
unless the Company defaults in making the redemption payment, interest on the Securities of a Series called for redemption ceases
to accrue on or after the Redemption Date, and the only remaining right of the Holders of such Securities is to receive payment
of the redemption price upon surrender to the Paying Agent of the Securities redeemed; and

 

(7)         if
fewer than all the Securities of a Series are to be redeemed, the identification of the particular Securities of a Series (or portion
thereof) to be redeemed, as well as the aggregate principal amount of Securities of a Series to be redeemed and the aggregate principal
amount of Securities of a Series to be outstanding after such partial redemption.

 

At the Company’s request, the Trustee
shall give the notice of redemption in the Company’s name and at the Company’s sole expense.

 

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		3.4	Effect of Notice of Redemption.

 

Once the notice of redemption described
in Section 3.3 is mailed, Securities of a Series called for redemption become due and payable on the Redemption Date and at the
redemption price, plus interest, if any, accrued to (but not including) the Redemption Date. Upon surrender to the Trustee or Paying
Agent, such Securities of a Series shall be paid at the redemption price, plus accrued interest, if any, to (but not including)
the Redemption Date, provided that if the Redemption Date is after a regular interest payment record date and on or prior
to the next Interest Payment Date, the accrued interest shall be payable to the Holder of the redeemed Securities registered on
the relevant record date, as specified by the Company in the notice to the Trustee pursuant to Section 3.1 hereof.

 

		3.5	Deposit of Redemption Price.

 

On or prior to the Redemption Date, the
Company shall deposit with the Paying Agent money sufficient to pay the redemption price of and accrued interest, if any, on all
Securities to be redeemed on that date other than Securities or portions thereof called for redemption on that date which have
been delivered by the Company to the Trustee for cancellation.

 

On and after any Redemption Date, if money
sufficient to pay the redemption price of and accrued interest on Securities called for redemption shall have been made available
in accordance with the preceding paragraph and the Company and the Paying Agent are not prohibited from paying such moneys to Holders,
the Securities called for redemption will cease to accrue interest and the only right of the Holders of such Securities will be
to receive payment of the redemption price of and, subject to the proviso in Section 3.4, accrued and unpaid interest on such Securities
to the Redemption Date. If any Security called for redemption shall not be so paid, interest will be paid, from the Redemption
Date until such redemption payment is made, on the unpaid principal of the Security and any interest or premium (if any) not paid
on such unpaid principal, in each case, at the rate and in the manner provided in the Securities.

 

		3.6	Securities Redeemed in Part.

 

Upon surrender of a Security of a Series
that is redeemed in part, the Trustee shall authenticate for a Holder a new Security of the same Series equal in principal amount
to the unredeemed portion of the Security surrendered.

 

Article
4

COVENANTS

 

		4.1	Payment of Securities.

 

The Company shall pay the principal of and
interest and premium, if any, on each Series of Securities on the dates and in the manner provided in such Securities and this
Indenture.

 

An installment of principal or interest
shall be considered paid on the date it is due if the Trustee or Paying Agent holds on that date money designated for and sufficient
to pay such installment and is not prohibited from paying such money to the Holders pursuant to the terms of this Indenture or
otherwise.

 

The Company shall pay interest on overdue
principal, and overdue interest, to the extent lawful, at the rate specified in the Series of Securities.

 

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		4.2	SEC Reports.

 

The Company will deliver to the Trustee
and the Holders of Securities within 15 days after the filing of the same with the SEC, copies of the quarterly and annual reports
and of the information documents and other reports, if any, which the Company is required to file with the SEC pursuant to Section
13 or 15(d) of the Exchange Act; provided, however, that each such report or document will be deemed to be so delivered
to the Trustee if the Company files such report or document with the SEC through the SEC’s EDGAR database no later than the
time such report is required to be filed with the SEC pursuant to the Exchange Act. Notwithstanding that the Company may not be
subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, the Company will file with the SEC, to the extent
permitted, and provide the Trustee, Holders of each Series of Securities and prospective holders of each Series of Securities with
such quarterly and annual reports and such information, documents and other reports specified in Section 13 and 15(d) of the Exchange
Act. The Company will also comply with the other provisions of TIA Section 314(a).

 

		4.3	Waiver of Stay, Extension or Usury Laws.

 

The Company covenants (to the extent that
it may lawfully do so) that they will not at any time insist upon, or plead (as a defense or otherwise) or in any manner whatsoever
claim or take the benefit or advantage of, any stay, extension law, usury law or other law which would prohibit or forgive the
Company from paying all or any portion of the principal of, premium, if any, and/or interest on the Securities as contemplated
herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Indenture;
and (to the extent that they may lawfully do so) the Company hereby expressly waives all benefit or advantage of any such law,
and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer
and permit the execution of every such power as though no such law had been enacted.

 

		4.4	Compliance Certificate.

 

(a)         The
Company shall deliver to the Trustee, within 90 days after the end of each fiscal year of the Company, an Officers’ Certificate
which complies with TIA Section 314(a)(4) stating that a review of the activities of the Company and its Subsidiaries during
such fiscal year has been made under the supervision of the signing Officers with a view to determining whether each has kept,
observed, performed and fulfilled its obligations under this Indenture, and further stating, as to each such Officer signing such
certificate, that to the best of his or her knowledge each has kept, observed, performed and fulfilled each and every covenant
contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions
hereof (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of which he
or she may have knowledge and what action each is taking or proposes to take with respect thereto) and that to the best of his
or her knowledge no event has occurred and remains in existence by reason of which payments on account of the principal of or interest
or premium, if any, on the Securities is prohibited or if such event has occurred, a description of the event and what action each
is taking or proposes to take with respect thereto.

 

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(b)         (i)
If any Default or Event of Default has occurred and is continuing or (ii) if any Holder seeks to exercise any remedy hereunder
with respect to a claimed Default under this Indenture or the Securities, the Company shall deliver to the Trustee an Officers’
Certificate specifying such event, notice or other action within five Business Days of its becoming aware of such occurrence and
what action the Company is taking or proposes to take with respect thereto.

 

		4.5	Payment of Taxes and Other Claims.

 

The Company shall pay or discharge or cause
to be paid or discharged, before the same shall become delinquent, (i) all taxes, assessments and governmental charges (including
withholding taxes and any penalties, interest and additions to taxes) levied or imposed upon it or any of its Significant Subsidiaries
or properties of it or any of its Significant Subsidiaries and (ii) all lawful claims for labor, materials and supplies that,
if unpaid, might by law become a Lien upon the property of it or any of its Significant Subsidiaries; provided, however,
that neither the Company nor any of its Significant Subsidiaries shall be required to pay or discharge or cause to be paid or discharged
any such tax, assessment, charge or claim if the amount, applicability or validity thereof is being contested in good faith by
appropriate proceedings and an adequate reserve has been established therefor to the extent required by GAAP.

 

		4.6	Corporate Existence.

 

Subject to Article 5 hereof, the Company
shall do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence, and the
corporate, partnership or other existence of each Significant Subsidiary, in accordance with the respective organizational documents
(as the same may be amended from time to time) of the Company and of each Significant Subsidiary, and the rights (charter and statutory),
licenses and franchises of the Company and its Significant Subsidiaries; provided, however, that the Company shall
not be required to preserve any such right, license or franchise, or the corporate, partnership or other existence of any of its
Significant Subsidiaries, if the Board of Directors shall determine that the preservation thereof is no longer desirable in the
conduct of the business of the Company and its Significant Subsidiaries, taken as a whole, and that the loss thereof is not adverse
in any material respect to the Holders.

 

		4.7	Maintenance of Properties.

 

The Company will cause all properties used
or useful in the conduct of its business or the business of any Subsidiary to be maintained and kept in good condition, repair
and working order and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements,
betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in
connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in
this Section 4.7 shall prevent the Company from discontinuing the operation or maintenance of any of such properties if such discontinuance
is, in the judgment of the Company, desirable in the conduct of its business or the business of any Subsidiary and not disadvantageous
in any material respect to the Holders.

 

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Article
5

SUCCESSOR CORPORATION

 

		5.1	Limitation on Consolidation, Merger and Sale of Assets.

 

(a)         The
Company will not, in any transaction or series of transactions, merge or consolidate with or into, or sell, assign, convey, transfer,
lease or otherwise dispose of all or substantially all of its properties and assets (as an entirety or substantially as an entirety
in one transaction or a series of related transactions), to any Person or Persons, and the Company will not permit any of its Significant
Subsidiaries to enter into any such transaction or series of transactions if such transaction or series of transactions, in the
aggregate, would result in a sale, assignment, conveyance, transfer, lease or other disposition of all or substantially all of
the properties and assets of the Company or the Company and its Significant Subsidiaries, taken as a whole, to any other Person
or Persons, unless at the time of and after giving effect thereto (i) either (A) if the transaction or series of transactions
is a merger or consolidation, the Company shall be the surviving Person of such merger or consolidation, or (B) the Person
formed by such consolidation or into which the Company or such Significant Subsidiary is merged or to which the properties and
assets of the Company or such Significant Subsidiary, as the case may be, are transferred (any such surviving person or transferee
Person being the “Surviving Entity”) shall be a corporation organized and existing under the laws of the United
States of America, any state thereof or the District of Columbia and shall expressly assume by a supplemental indenture executed
and delivered to the Trustee, in form reasonably satisfactory to the Trustee, all the obligations of the Company (including, without
limitation, the obligation to pay the principal of, and premium and interest, if any, on the Securities and the performance of
the other covenants) under the Securities of each Series and this Indenture, and in each case, this Indenture shall remain in full
force and effect; and (ii) immediately after giving effect to such transaction or series of transactions on a pro forma basis (including,
without limitation, any Indebtedness incurred or anticipated to be incurred in connection with or in respect of such transaction
or series of transactions), no Default or Event of Default shall have occurred and be continuing.

 

(b)         In
connection with any consolidation, merger or transfer of assets contemplated by this Section 5.1, the Company shall deliver, or
cause to be delivered, to the Trustee, in form and substance reasonably satisfactory to the Trustee, an Officers’ Certificate
and an Opinion of Counsel, each stating that such consolidation, merger or transfer and the supplemental indenture in respect thereto
comply with this Section 5.1 and that all conditions precedent herein provided for relating to such transaction or transactions
have been complied with.

 

		5.2	Successor Person Substituted.

 

Upon any consolidation or merger, or any
transfer of all or substantially all of the assets of the Company or any Significant Subsidiary in accordance with Section 5.1
above, the successor corporation formed by such consolidation or into which the Company is merged or to which such transfer is
made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with
the same effect as if such successor corporation had been named as the Company herein, and thereafter (except with respect to any
such transfer which is a lease) the predecessor corporation shall be relieved of all obligations and covenants under this Indenture
and the Securities.

 

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Article
6

DEFAULTS AND REMEDIES

 

		6.1	Events of Default.

 

“Events of Default,”
wherever used herein with respect to Securities of any Series, means any one of the following events, unless in the establishing
Board Resolution, supplemental indenture or Officers’ Certificate, it is provided that such Series shall not have the benefit
of said Event of Default:

 

(1)         there
is a default in the payment of any principal of, or premium, if any, on the Securities when the same becomes due and payable at
maturity, upon acceleration, redemption or otherwise;

 

(2)         there
is a default in the payment of any interest on any Security of a Series when the same becomes due and payable and the Default continues
for a period of 45 days;

 

(3)         the
Company defaults in the observance or performance of any other covenant in the Securities of a Series or this Indenture for 45
days after written notice from the Trustee or the Holders of not less than 25% in the aggregate principal amount of the Securities
of such Series then outstanding;

 

(4)         the
Company or any Significant Subsidiary pursuant to or within the meaning of any Bankruptcy Law:

 

(A)         commences
a voluntary case,

 

(B)         consents
to the entry of an order for relief against it in an involuntary case,

 

(C)         consents
to the appointment of a Custodian of it or for all or substantially all of its property,

 

(D)         makes
a general assignment for the benefit of its creditors, or

 

(E)         generally
is not paying its debts as they become due;

 

(5)         a
court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:

 

(A)         is
for relief against the Company or any Significant Subsidiary in an involuntary case;

 

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(B)         appoints
a Custodian of the Company or any Significant Subsidiary or for all or substantially all of the property of the Company or any
Significant Subsidiary; or

 

(C)         orders
the liquidation of the Company or any Significant Subsidiary, and the order or decree remains unstayed and in effect for 60 days;
or

 

(6)         any
other Event of Default provided with respect to Securities of that Series, which is specified in a Board Resolution, a supplemental
indenture hereto or an Officers’ Certificate, in accordance with Section 2.2(18).

 

The term “Bankruptcy Law”
means Title 11, U.S. Code or any similar Federal or state law for the relief of debtors. The term “Custodian”
means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

The Trustee may withhold notice of any Default
(except in payment of principal or premium, if any, or interest on the Securities) to the Holders of the Securities of any Series
in accordance with Section 7.5.

 

		6.2	Acceleration.

 

If an Event of Default with respect to Securities
of any Series at the time outstanding (other than an Event of Default arising under Section 6.1(6) or (7)) occurs and is continuing,
the Trustee by written notice to the Company, or the Holders of not less than 25% in aggregate principal amount of the Securities
of that Series then outstanding may by written notice to the Company and the Trustee declare that the entire principal amount of
all the Securities of that Series then outstanding plus accrued and unpaid interest to the date of acceleration are immediately
due and payable, in which case such amounts shall become immediately due and payable; provided, however, that after
such acceleration but before a judgment or decree based on such acceleration is obtained by the Trustee, the Holders of a majority
in aggregate principal amount of the outstanding Securities of that Series may rescind and annul such acceleration and its consequences
if (i) all existing Events of Default, other than the nonpayment of accelerated principal, premium, if any, or interest that has
become due solely because of the acceleration, have been cured or waived, (ii) to the extent the payment of such interest
is lawful, interest on overdue installments of interest and overdue principal, which has become due otherwise than by such declaration
of acceleration, has been paid and (iii) if the rescission would not conflict with any judgment or decree. No such rescission
shall affect any subsequent Default or impair any right consequent thereto. In case an Event of Default specified in Section 6.1(6)
or (7) with respect to the Company occurs, such principal, premium, if any, and interest amount with respect to all of the Securities
of that Series shall be due and payable immediately without any declaration or other act on the part of the Trustee or the Holders
of the Securities of that Series.

 

		6.3	Other Remedies.

 

If an Event of Default with respect to Securities
of any Series at the time outstanding occurs and is continuing, the Trustee may pursue any available remedy by proceeding at law
or in equity to collect the payment of principal of, or premium, if any, and interest on the Securities of that Series or to enforce
the performance of any provision of the Securities of that Series or this Indenture.

 

    	- 23 -

    	 

    

  

The Trustee may maintain a proceeding even
if it does not possess any of the Securities of that Series or does not produce any of them in the proceeding. A delay or omission
by the Trustee or any Securityholder in exercising any right or remedy accruing upon an Event of Default shall not impair the right
or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive of any other remedy. All available
remedies are cumulative to the extent permitted by law.

 

		6.4	Waiver of Past Defaults and Events of Default.

 

Subject to Sections 6.2, 6.7 and 8.2 hereof,
the Holders of a majority in principal amount of the Securities of any Series then outstanding have the right to waive any existing
Default or Event of Default with respect to such Series or compliance with any provision of this Indenture (with respect to such
Series) or the Securities of such Series. Upon any such waiver, such Default with respect to such Series shall cease to exist,
and any Event of Default with respect to such Series arising therefrom shall be deemed to have been cured for every purpose of
this Indenture; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent
thereto.

 

		6.5	Control by Majority.

 

The Holders of a majority in principal amount
of the Securities of any Series then outstanding may 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 by this Indenture with respect to such Series.
The Trustee, however, may refuse to follow any direction that conflicts with law or this Indenture or that the Trustee determines
may be unduly prejudicial to the rights of another Securityholder or that may involve the Trustee in personal liability; provided
that the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction.

 

		6.6	Limitation on Suits.

 

Subject to Section 6.7 below, a Securityholder
may not institute any proceeding or pursue any remedy with respect to this Indenture or the Securities of a Series unless:

 

(1)         the
Holder gives to the Trustee written notice of a continuing Event of Default with respect to the Securities of that Series;

 

(2)         the
Holders of at least 25% in aggregate principal amount of the Securities of such Series then outstanding make a written request
to the Trustee to pursue the remedy;

 

(3)         such
Holder or Holders offer to the Trustee indemnity reasonably satisfactory to the Trustee against any loss, liability or expense
to be incurred in compliance with such request;

 

    	- 24 -

    	 

    

 

(4)         the
Trustee does not comply with the request within 60 days after receipt of the request and the offer of indemnity; and

 

(5)         no
direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority
in aggregate principal amount of the Securities of such Series then outstanding.

 

A Securityholder may not use this Indenture
to prejudice the rights of another Securityholder or to obtain a preference or priority over another Securityholder.

 

		6.7	Rights of Holders To Receive Payment.

 

Notwithstanding any other provision of this
Indenture, the right of any Holder of a Security of a Series to receive payment of principal of, or premium, if any, and interest
of the Security of such Series on or after the respective due dates expressed in the Security of such Series, or to bring suit
for the enforcement of any such payment on or after such respective dates, is absolute and unconditional and shall not be impaired
or affected without the consent of the Holder.

 

		6.8	Collection Suit by Trustee.

 

If an Event of Default in payment of principal,
premium or interest specified in Section 6.1(1) or (2) hereof with respect to Securities of any Series at the time outstanding
occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Company
(or any other obligor on the Securities of that Series) for the whole amount of unpaid principal and accrued interest remaining
unpaid, together with interest on overdue principal and, to the extent that payment of such interest is lawful, interest on overdue
installments of interest, in each case at the rate then borne by the Securities of that Series, and such further amounts as shall
be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel.

 

		6.9	Trustee May File Proofs of Claim.

 

The Trustee may file such proofs of claim
and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim
for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Securityholders
allowed in any judicial proceedings relative to the Company (or any other obligor upon the Securities), any of their respective
creditors or any of their respective property and shall be entitled and empowered to collect and receive any monies or other property
payable or deliverable on any such claims and to distribute the same after deduction of its charges and expenses to the extent
that any such charges and expenses are not paid out of the estate in any such proceedings and any custodian in any such judicial
proceeding is hereby authorized by each Securityholder to make such payments to the Trustee, and in the event that the Trustee
shall consent to the making of such payments directly to the Securityholders, to pay to the Trustee any amount due to it for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due
the Trustee under Section 7.7 hereof.

 

    	- 25 -

    	 

    

 

Nothing herein contained shall be deemed
to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Securityholder any plan or reorganization,
arrangement, adjustment or composition affecting the Securities of a 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 proceedings.

 

		6.10	Priorities.

 

If the Trustee collects any money pursuant
to this Article 6, it shall pay out the money in the following order:

 

FIRST: to the Trustee for amounts due under
Section 7.7 hereof;

 

SECOND: to Securityholders for amounts then
due and unpaid for principal, premium, if any, and interest on the Securities 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 any premium and interest, respectively; and

 

THIRD: to the Company.

 

The Trustee may fix a record date and payment
date for any payment to Securityholders pursuant to this Section 6.10.

 

		6.11	Undertaking for Costs.

 

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, a court in
its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the
court in its discretion may assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in
the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11
does not apply to a suit by the Trustee, a suit by a Holder pursuant to Section 6.7 hereof or a suit by Holders of more than 10%
in principal amount of the Securities of a Series then outstanding.

 

Article
7

TRUSTEE

 

		7.1	Duties of Trustee.

 

(a)         If
an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this
Indenture and use the same degree of care and skill in its exercise as a prudent person would exercise or use under the same circumstances
in the conduct of his own affairs.

 

(b)         Except
during the continuance of an Event of Default:

 

    	- 26 -

    	 

    

 

(1)         The
Trustee need perform only those duties that are specifically set forth in this Indenture and no covenants or obligations shall
be implied in this Indenture against the Trustee.

 

(2)         In
the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon 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 which 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.

 

(c)         The
Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct,
except that:

 

(1)         This
paragraph does not limit the effect of paragraph (b) of this Section 7.1.

 

(2)         The
Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved that the
Trustee was negligent in ascertaining the pertinent facts.

 

(3)         The
Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received
by it pursuant to Sections 6.2 and 6.5 hereof.

 

(d)         No
provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability
in the performance of any of its rights or powers if it shall have reasonable grounds for believing that repayment of such funds
or adequate indemnity satisfactory to it against such risk or liability is not reasonably assured to it.

 

(e)         Whether
or not therein expressly so provided, paragraphs (a), (b), (c) and (d) of this Section 7.1 shall govern every provision of this
Indenture that in any way relates to the Trustee.

 

(f)         The
Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company.
Money held in trust by the Trustee need not be segregated from other funds except to the extent required by the law.

 

(g)         The
Paying Agent, the Registrar and any authenticating agent shall be entitled to the protections, immunities and standard of care
set forth in paragraphs (a), (b), (c), and (d) of this Section 7.1 and in Section 7.2 with respect to the Trustee.

 

    	- 27 -

    	 

    

  

		7.2	Rights of Trustee.

 

(a)         Subject
to Section 7.1 hereof:

 

(1)         The
Trustee may rely on and shall be protected in acting or refraining from acting upon any document reasonably believed by it to be
genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in
the document.

 

(2)         Before
the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel, or both, which
shall conform to the provisions of Section 10.5 hereof. The Trustee shall be protected and shall not be liable for any action it
takes or omits to take in good faith in reliance on such certificate or opinion.

 

(3)         The
Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent appointed by it with
due care.

 

(4)         The
Trustee shall not be liable for any action it takes or omits to take in good faith which it reasonably believes to be authorized
or within its rights or powers.

 

(5)         The
Trustee may consult with counsel of its selection, and the advice or opinion of such counsel as to matters of law shall be full
and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder in
good faith and in accordance with the advice or opinion of such counsel.

 

(6)         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 Holders pursuant to the provisions of this Indenture, unless such Holders shall have offered to the
Trustee reasonable security or indemnity against the costs, expenses and liabilities which may be incurred therein or thereby.

 

(7)         The
Trustee shall not be deemed to have knowledge of any fact or matter unless such fact or matter is known to a Responsible Officer
of the Trustee.

 

		7.3	Individual Rights of Trustee.

 

The Trustee in its individual or any other
capacity may become the owner or pledgee of Securities and may make loans to, accept deposits from, perform services for or otherwise
deal with the Company, or any Affiliate thereof, with the same rights it would have if it were not Trustee. Any Agent may do the
same with like rights. The Trustee, however, shall be subject to Sections 7.10 and 7.11 hereof.

 

		7.4	Trustee’s Disclaimer.

 

The Trustee makes no representation as to
the validity or adequacy of this Indenture or the Securities (except that the Trustee represents that it is duly authorized to
execute and deliver this Indenture and authenticate the Securities and perform its obligations hereunder), it shall not be accountable
for the Company’s use of the proceeds from the sale of Securities or any money paid to the Company pursuant to the terms
of this Indenture and it shall not be responsible for any statement in the Securities other than its certificates of authentication.

 

    	- 28 -

    	 

    

 

		7.5	Notice of Default.

 

If a Default or an Event of Default occurs
and is continuing with respect to the Securities of any Series and if it is known to the Trustee, the Trustee shall mail to each
Securityholder of the Securities of that Series notice of the Default or the Event of Default, as the case may be, within 30 days
after it occurs. Except in the case of a Default or an Event of Default in payment of the principal of, or premium, if any, or
interest on any Security of any Series, the Trustee may withhold the notice if and so long as the Board of Directors of the Trustee,
the executive committee or any trust committee of such board and/or its Responsible Officers in good faith determine(s) that withholding
the notice is in the interests of the Securityholders of that Series.

 

		7.6	Reports by Trustee to Holders.

 

If and to the extent required by the TIA,
within 60 days after May 15 of each year, commencing the May 15 following the date of this Indenture, the Trustee shall mail to
each Securityholder a brief report dated as of such May 15 that complies with TIA Section 313(a). The Trustee also shall comply
with TIA Sections 313(b) and 313(c).

 

A copy of each report at the time of its
mailing to Securityholders shall be filed with the SEC and any stock exchange on which the Securities of that Series are listed.
The Company shall promptly notify the Trustee when the Securities of any Series are listed on any stock exchange, and the Trustee
shall comply with TIA Section 313(d).

 

		7.7	Compensation and Indemnity.

 

The Company shall pay to the Trustee from
time to time reasonable compensation for its services. The Trustee’s compensation shall not be limited by any provision of
law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon request for all reasonable disbursements,
expenses and advances incurred or made by it in connection with its duties under this Indenture, including the reasonable compensation,
disbursements and expenses of the Trustee’s agents and counsel.

 

The Company shall indemnify the Trustee
for, and hold it harmless against, any and all loss or liability incurred by it in connection with the acceptance or performance
of its duties under this Indenture including the reasonable costs and expenses of defending itself against any claim or liability
in connection with the exercise or performance of any of its powers or duties hereunder. The Trustee shall notify the Company promptly
of any claim asserted against the Trustee for which it may seek indemnity. However, the failure by the Trustee to so notify the
Company shall not relieve the Company of its obligations. Notwithstanding the foregoing, the Company need not reimburse the Trustee
for any expense or indemnify it against any loss or liability incurred by the Trustee through its negligence or bad faith.

 

To secure the payment obligations of the
Company in this Section 7.7, the Trustee shall have a Lien prior to the Securities of any Series on all money or property held
or collected by the Trustee, except such money or property held in trust to pay principal of and interest and premium (if any)
on particular Securities of that Series.

 

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When the Trustee incurs expenses or renders
services after an Event of Default specified in Section 6.1(6) or (7) hereof occurs, the expenses and the compensation for the
services are intended to constitute expenses of administration under any Bankruptcy Law.

 

For purposes of this Section 7.7, the term
“Trustee” shall include any trustee appointed pursuant to Article 9.

 

		7.8	Replacement of Trustee.

 

The Trustee may resign with respect to the
Securities of one or more Series by so notifying the Company in writing at least 90 days in advance of such resignation.

 

The Holders of a majority in principal amount
of the outstanding Securities of any Series may remove the Trustee with respect to that Series by notifying the removed Trustee
in writing and may appoint a successor Trustee with respect to that Series with the written consent of the Company, which consent
shall not be unreasonably withheld. The Company may remove the Trustee with respect to that Series at its election if:

 

(1)         the
Trustee fails to comply with, or ceases to be eligible under, Section 7.10 hereof;

 

(2)         the
Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy
Law;

 

(3)         a
Custodian or other public officer takes charge of the Trustee or its property; or

 

(4)         the
Trustee otherwise becomes incapable of acting.

 

If the Trustee resigns or is removed or
if a vacancy exists in the office of Trustee with respect to any Series of Securities for any reason, the Company shall promptly
notify each Holder of such event and shall promptly appoint a successor Trustee.

 

If a successor Trustee with respect to the
Securities of one or more Series does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring
Trustee, the Company or the Holders of at least 10% in principal amount of the outstanding Securities of the applicable Series
may petition any court of competent jurisdiction for the appointment of a successor Trustee.

 

If the Trustee with respect to the Securities
of one or more Series fails to comply with Section 7.10 hereof, any Securityholder of the applicable Series may petition any court
of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

 

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A successor Trustee shall deliver a written
acceptance of its appointment to the retiring Trustee and to the Company. Immediately following such delivery (i) the retiring
Trustee with respect to one or more Series shall, subject to its rights under Section 7.7 hereof, transfer all property held by
it as Trustee with respect to such Series to the successor Trustee, (ii) the resignation or removal of the retiring Trustee
shall become effective, and (iii) the successor Trustee with respect to such Series shall have all the rights, powers and
duties of the Trustee under this Indenture. A successor Trustee with respect to the Securities of one or more Series shall mail
notice of its succession to each Securityholder of such Series.

 

		7.9	Successor Trustee by Consolidation, Merger or Conversion.

 

If the Trustee consolidates with, merges
or converts into, or transfers all or substantially all of its corporate trust assets to, another corporation, subject to Section
7.10 hereof, the successor corporation without any further act shall be the successor Trustee.

 

		7.10	Eligibility; Disqualification.

 

This Indenture shall always have a Trustee
who satisfies the requirements of TIA Sections 310(a)(1), (2) and (5) in every respect. The Trustee shall have a combined capital
and surplus of at least $100,000,000 as set forth in its most recent published annual report of condition. The Trustee shall comply
with TIA Section 310(b), including the provision in Section 310(b)(1). If at any time the Trustee shall cease to be eligible in
accordance with the provisions of this Section 7.10, it shall resign immediately in the manner and with the effect specified
in this Article 7.

 

		7.11	Preferential Collection of Claims Against Company.

 

The Trustee shall comply with TIA Section
311(a), excluding any creditor relationship listed in TIA Section 311(b). A Trustee who has resigned or been removed shall be subject
to TIA Section 311(a) to the extent indicated therein.

 

		7.12	Paying Agents.

 

The Company shall cause each Paying Agent
other than the Trustee to execute and deliver to it and the Trustee an instrument in which such agent shall agree with the Trustee,
subject to the provisions of this Section 7.12:

 

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

 

(2)         that
it will at any time during the continuance of any Event of Default, upon written request from the Trustee, deliver to the Trustee
all sums so held in trust by it together with a full accounting thereof; and

 

(3)         that
it will give the Trustee written notice within three (3) Business Days of any failure of the Company (or by any obligor on the
Securities) in the payment of any installment of the principal of, premium, if any, or interest on, the Securities when the same
shall be due and payable.

 

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Article
8

AMENDMENTS, SUPPLEMENTS AND WAIVERS

 

		8.1	Without Consent of Holders.

 

The Company, when authorized by a Board
Resolution, and the Trustee may amend or supplement this Indenture or the Securities of one or more Series without notice to or
consent of any Securityholder:

 

(1)         to
comply with Section 5.1 hereof;

 

(2)         to
provide for uncertificated Securities in addition to certificated Securities;

 

(3)         to
comply with any requirements of the SEC under the TIA;

 

(4)         to
cure any ambiguity, defect or inconsistency, or to make any other change that does not adversely affect the rights of any Securityholder;

 

(5)         to
provide for the issuance of and establish the form and terms and conditions of Securities of any Series as permitted by this Indenture;
or

 

(6)         to
evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or
more Series and to 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.

 

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

 

		8.2	With Consent of Holders.

 

(a)         The
Company, when authorized by a Board Resolution, and the Trustee may amend or supplement this Indenture or the Securities of one
or more Series with the written consent of the Holders of not less than a majority in aggregate principal amount of the outstanding
Securities of such Series affected by such amendment or supplement without notice to any Securityholder. The Holders of not less
than a majority in aggregate principal amount of the outstanding Securities of each such Series affected by such amendment or supplement
may waive compliance in a particular instance by the Company with any provision of this Indenture or the Securities of such Series
without notice to any Securityholder. Subject to Section 8.4, without the consent of each Securityholder affected, however, an
amendment, supplement or waiver, including a waiver pursuant to Section 6.4, may not:

 

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(1)         reduce
the amount of Securities whose Holders must consent to an amendment, supplement or waiver to this Indenture or the Securities;

 

(2)         reduce
the rate of or change the time for payment of interest on any Security;

 

(3)         reduce
the principal or change the Stated Maturity of any Security or reduce the amount of, or postpone the date fixed for, the payment
of any sinking fund or analogous obligation;

 

(4)         make
any Security payable in money other than that stated in the Security;

 

(5)         change
the amount or time of any payment required by the Securities or reduce the premium payable upon any redemption of the Securities,
or change the time before which no such redemption may be made;

 

(6)         waive
a Default or Event of Default in the payment of the principal of or interest or premium, if any, on any Security (except a rescission
of acceleration of the Securities of any Series by the Holders of at least a majority in principal amount of the outstanding Securities
of such Series and a waiver of the payment default that resulted from such acceleration);

 

(7)         waive
a redemption payment with respect to any Security or change any of the provisions with respect to the redemption of any Securities;

 

(8)         make
any changes in Sections 6.4 or 6.7 hereof or this Section 8.2, except to increase any percentage of Securities the Holders of which
must consent to any matter; or; or

 

(9)         take
any other action otherwise prohibited by this Indenture to be taken without the consent of each holder affected thereby.

 

(b)         Upon
the request of the Company, accompanied by a Board Resolution authorizing the execution of any such supplemental indenture, and
upon the receipt by the Trustee of evidence reasonably satisfactory to the Trustee of the consent of the Securityholders as aforesaid
and upon receipt by the Trustee of the documents described in Section 8.6 hereof, 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, in which case the Trustee may in its discretion, but shall not be obligated to, enter into such supplemental
indenture.

 

(c)         It
shall not be necessary for the consent of the Holders under this section to approve the particular form of any proposed amendment,
supplement or waiver, but it shall be sufficient if such consent approves the substance thereof.

 

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		8.3	Compliance with Trust Indenture Act.

 

Every amendment to or supplement of this
Indenture or the Securities shall comply with the TIA as then in effect.

 

		8.4	Revocation and Effect of Consents.

 

Until an amendment, supplement, waiver or
other action becomes effective, a consent to it by a Holder of a Security is a continuing consent conclusive and binding upon such
Holder and every subsequent Holder of the same Security or portion thereof, and of any Security issued upon the transfer thereof
or in exchange therefor or in place thereof, even if notation of the consent is not made on any such Security. Any such Holder
or subsequent Holder, however, may revoke the consent as to his Security or portion of a Security, if the Trustee receives the
notice of revocation before the date the amendment, supplement, waiver or other action becomes effective.

 

The Company may, but shall not be obligated
to, fix a record date for the purpose of determining the Holders entitled to consent to any amendment, supplement, or waiver which
record date shall be at least 30 days prior to the first solicitation of such consent. If a record date is fixed, then, notwithstanding
the preceding paragraph, those Persons who were Holders at such record date (or their duly designated proxies), and only such Persons,
shall be entitled to consent to such amendment, supplement, or waiver or to revoke any consent previously given, whether or not
such Persons continue to be Holders after such record date. No such consent shall be valid or effective for more than 90 days after
such record date without the applicable amendment, supplement or waiver becoming effective.

 

After an amendment, supplement, waiver or
other action becomes effective, it shall bind every Securityholder, unless it makes a change described in any of clauses (1) through
(9) of Section 8.2 hereof. In that case the amendment, supplement, waiver or other action shall bind each Holder of a Security
who has consented to it and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the
consenting Holder’s Security; provided that any such waiver shall not impair or affect the right of any Holder to
receive payment of principal of and interest and premium (if any) on a Security, on or after the respective due dates expressed
in such Security, or to bring suit for the enforcement of any such payment on or after such respective dates without the consent
of such Holder.

 

		8.5	Notation on or Exchange of Securities.

 

If an amendment, supplement, or waiver changes
the terms of a Security of any Series, the Trustee may request the Holder of such Security to deliver it to the Trustee. In such
case, the Trustee shall place an appropriate notation on such Security about the changed terms and return it to the Holder. Alternatively,
if the Company or the Trustee so determines, the Company in exchange for such Security shall issue and the Trustee shall authenticate
a new security that reflects the changed terms. Failure to make the appropriate notation or issue a new Security shall not affect
the validity and effect of such amendment, supplement or waiver.

 

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		8.6	Trustee to Sign Amendments, Etc.

 

The Trustee shall sign any amendment, supplement
or waiver authorized pursuant to this Article 8 if the amendment, supplement or waiver does not adversely affect the rights, duties,
liabilities or immunities of the Trustee. If it does, the Trustee may, but need not, sign it. In signing or refusing to sign such
amendment, supplement or waiver the Trustee shall be entitled to receive and, subject to Section 7.1 hereof, shall be fully protected
in relying upon an Officers’ Certificate and an Opinion of Counsel stating that such amendment, supplement or waiver is authorized
or permitted by this Indenture. The Company may not sign an amendment or supplement until the Board of Directors of the Company
approves it.

 

Article
9

DISCHARGE OF INDENTURE; DEFEASANCE

 

		9.1	Discharge of Indenture.

 

The Company may terminate its obligations
under the Securities of any Series and this Indenture with respect to such Series, except the obligations referred to in the last
paragraph of this Section 9.1, if there shall have been canceled by the Trustee or delivered to the Trustee for cancellation all
Securities of such Series theretofore authenticated and delivered (other than any Securities of such Series that are asserted to
have been destroyed, lost or stolen and that shall have been replaced as provided in Section 2.8 hereof) and the Company has paid
all sums payable by it hereunder or deposited all required sums with the Trustee.

 

After such delivery the Trustee upon request
shall acknowledge in writing the discharge of the Company’s obligations under the Securities of such Series and this Indenture
except for those surviving obligations specified below.

 

Notwithstanding the satisfaction and discharge
of this Indenture, the obligations of the Company in Sections 7.7, 9.5 and 9.6 hereof shall survive.

 

		9.2	Legal Defeasance.

 

The Company may at its option, by Board
Resolution, be discharged from its obligations with respect to the Securities of any Series on the date the conditions set forth
in Section 9.4 below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, such Legal Defeasance
means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by the Securities of such
Series and to have satisfied all its other obligations under such Securities and this Indenture insofar as such Securities are
concerned (and the Trustee, at the expense of the Company, shall, subject to Section 9.6 hereof, execute proper instruments acknowledging
the same), except for the following which shall survive until otherwise terminated or discharged hereunder: (A) the rights of Holders
of outstanding Securities of such Series to receive solely from the trust funds described in Section 9.4 hereof and as more fully
set forth in such section, payments in respect of the principal of, premium, if any, and interest on the Securities of such Series
when such payments are due, (B) the Company’s obligations with respect to the Securities of such Series under Sections 2.4,
2.5, 2.6, 2.7, 2.8 and 2.9 hereof, (C) the rights, powers, trusts, duties, and immunities of the Trustee hereunder (including claims
of, or payments to, the Trustee under or pursuant to Section 7.7 hereof) and (D) this Article 9. Subject to compliance with this
Article 9, the Company may exercise its option under this Section 9.2 with respect to the Securities of any Series notwithstanding
the prior exercise of its option under Section 9.3 below with respect to the Securities of such Series.

 

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		9.3	Covenant Defeasance.

 

At the option of the Company, pursuant to
a Board Resolution, the Company shall be released from its obligations under Sections 4.2 through 4.7 hereof, inclusive, and Section 5.1
hereof, with respect to the outstanding Securities of any Series, on and after the date the conditions set forth in Section 9.4
hereof are satisfied (hereinafter, “Covenant Defeasance”). For this purpose, such Covenant Defeasance means
that the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth
in any such specified section or portion thereof, whether directly or indirectly by reason of any reference elsewhere herein to
any such specified Section or portion thereof or by reason of any reference in any such specified section or portion thereof to
any other provision herein or in any other document, but the remainder of this Indenture and the Securities of any Series shall
be unaffected thereby.

 

		9.4	Conditions to Legal Defeasance or Covenant Defeasance.

 

The following shall be the conditions to
application of Section 9.2 or Section 9.3 hereof to the outstanding Securities of a Series:

 

(1)         the
Company shall irrevocably have deposited or caused to be deposited with the Trustee (or another trustee satisfying the requirements
of Section 7.10 hereof who shall agree to comply with the provisions of this Article 9 applicable to it) as funds in trust
for the purpose of making the following payments, specifically pledged as security for, and dedicated solely to, the benefit of
the Holders of the Securities, (A) money in an amount, or (B) U.S. Government Obligations or Foreign Government Obligations
which through the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide, not
later than the due date of any payment, money in an amount, or (C) 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 and discharge, and which shall be applied by the Trustee (or other qualifying trustee) to pay and discharge, the principal
of, premium, if any, and accrued interest on the outstanding Securities of such Series at the Stated Maturity of such principal,
premium, if any, or interest, or on dates for payment and redemption of such principal, premium, if any, and interest selected
in accordance with the terms of this Indenture and of the Securities of such Series;

 

(2)         no
Event of Default or Default with respect to the Securities of such Series shall have occurred and be continuing on the date of
such deposit, or shall have occurred and be continuing at any time during the period ending on the 91st day after the date of such
deposit or, if longer, ending on the day following the expiration of the longest preference period under any Bankruptcy Law applicable
to the Company in respect of such deposit (it being understood that this condition shall not be deemed satisfied until the expiration
of such period);

 

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(3)         such
Legal Defeasance or Covenant Defeasance shall not cause the Trustee to have a conflicting interest for purposes of the TIA with
respect to any securities of the Company;

 

(4)         such
Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute default under any other agreement
or instrument to which the Company is a party or by which it is bound;

 

(5)         the
Company shall have delivered to the Trustee an Opinion of Counsel stating that, as a result of such Legal Defeasance or Covenant
Defeasance, neither the trust nor the Trustee will be required to register as an investment company under the Investment Company
Act of 1940, as amended;

 

(6)         in
the case of an election under Section 9.2 above, the Company shall have delivered to the Trustee an Opinion of Counsel stating
that (i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling to the effect that
or (ii) there has been a change in any applicable Federal income tax law with the effect that, and such opinion shall confirm
that, the Holders of the outstanding Securities of such Series or persons in their positions will not recognize income, gain or
loss for Federal income tax purposes solely as a result of such Legal Defeasance and will be subject to Federal income tax on the
same amounts, in the same manner, including as a result of prepayment, and at the same times as would have been the case if such
Legal Defeasance had not occurred;

 

(7)         in
the case of an election under Section 9.3 hereof, the Company shall have delivered to the Trustee an Opinion of Counsel to the
effect that the Holders of the outstanding Securities of such Series will not recognize income, gain or loss for Federal income
tax purposes as a result of such Covenant Defeasance and will be subject to Federal income tax on the same amounts, in the same
manner and at the same times as would have been the case if such Covenant Defeasance had not occurred;

 

(8)         the
Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions
precedent provided for in this Article 9 relating to either the Legal Defeasance under Section 9.2 above or the Covenant Defeasance
under Section 9.3 hereof (as the case may be) have been complied with;

 

(9)         the
Company shall have delivered to the Trustee an Officers’ Certificate stating that the deposit under clause (1) was not made
by the Company with the intent of defeating, hindering, delaying or defrauding any creditors of the Company or others; and

 

(10)         the
Company shall have paid or duly provided for payment under terms mutually satisfactory to the Company and the Trustee all amounts
then due to the Trustee pursuant to Section 7.7 hereof.

 

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		9.5	Deposited Money and U.S. and Foreign Government Obligations
to be Held in Trust; Other Miscellaneous Provisions.

 

All money, U.S. Government Obligations and
Foreign Government Obligations (including the proceeds thereof) deposited with the Trustee pursuant to Section 9.4 hereof
in respect of the outstanding Securities shall be held in trust and applied by the Trustee, in accordance with the provisions of
such Securities and this Indenture, to the payment, either directly or through any Paying Agent as the Trustee may determine, to
the Holders of such Securities, of all sums due and to become due thereon in respect of principal, premium, if any, and accrued
interest, but such money need not be segregated from other funds except to the extent required by law.

 

The Company shall pay and indemnify the
Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations and Foreign Government
Obligations deposited pursuant to Section 9.4 hereof or the principal, premium, if any, and interest received in respect thereof
other than any such tax, fee or other charge which by law is for the account of the Holders of the outstanding Securities.

 

Anything in this Article 9 to the contrary
notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request any money, U.S. Government
Obligations or Foreign Government Obligations held by it as provided in Section 9.4 hereof which, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in
excess of the amount thereof which would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant
Defeasance.

 

		9.6	Reinstatement.

 

If the Trustee or Paying Agent is unable
to apply any money, U.S. Government Obligations or Foreign Government Obligations in accordance with Section 9.1, 9.2, 9.3 or 9.4
hereof by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining,
restraining or otherwise prohibiting such application, the Company’s obligations under this Indenture and the Securities
shall be revived and reinstated as though no deposit had occurred pursuant to this Article 9 until such time as the Trustee or
Paying Agent is permitted to apply all such money, U.S. Government Obligations or Foreign Government Obligations, as the case may
be, in accordance with Section 9.1, 9.2, 9.3 or 9.4 hereof; provided, however, that if the Company has made any payment
of principal of, premium, if any, or accrued interest on any Securities because of the reinstatement of their obligations, the
Company shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money, U.S. Government
Obligations or Foreign Government Obligations held by the Trustee or Paying Agent.

 

		9.7	Moneys Held by Paying Agent.

 

In connection with the satisfaction and
discharge of this Indenture, all moneys then held by any Paying Agent under the provisions of this Indenture shall, upon demand
of the Company, be paid to the Trustee, or if sufficient moneys have been deposited pursuant to Section 9.1 hereof, to the Company,
and thereupon such Paying Agent shall be released from all further liability with respect to such moneys.

 

    	- 38 -

    	 

    

 

		9.8	Moneys Held by Trustee.

 

Any moneys deposited with the Trustee or
any Paying Agent or then held by the Company in trust for the payment of the principal of, or premium, if any, or interest on any
Security that are not applied but remain unclaimed by the Holder of such Security for two years after the date upon which the principal
of, or premium, if any, or interest on such Security shall have respectively become due and payable shall be repaid to the Company
upon Company Request, or if such moneys are then held by the Company in trust, such moneys shall be released from such trust; and
the Holder of such Security entitled to receive such payment shall thereafter, as an unsecured general creditor, look only to the
Company for the payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money shall thereupon
cease; provided, however, that the Trustee or any such Paying Agent, before being required to make any such repayment,
may, at the expense of the Company, either mail to each Securityholder affected, at the address shown in the register of the Securities
maintained by the Registrar or cause to be published once a week for two successive weeks, in a newspaper published in the English
language, customarily published each Business Day and of general circulation in the City of New York, New York, a notice that such
money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such mailing
or publication, any unclaimed balance of such moneys then remaining will be repaid to the Company. After payment to the Company
or the release of any money held in trust by the Company, Securityholders entitled to the money must look only to the Company for
payment as general creditors unless applicable abandoned property law designates another person.

 

Article
10

MISCELLANEOUS

 

		10.1	Trust Indenture Act Controls.

 

If any provision of this Indenture limits,
qualifies or conflicts with another provision which is required to be included in this Indenture by the TIA, the required provision
shall control. If any provision of this Indenture modifies or excludes any provision of the TIA which may be so modified or excluded,
the latter provision shall be deemed to apply to this Indenture as so modified or to be excluded, as the case may be.

 

		10.2	Notices.

 

Any notice or communication shall be given
in writing and delivered in person, sent by facsimile, delivered by commercial courier service or mailed by first-class mail, postage
prepaid, addressed as follows:

 

    	- 39 -

    	 

    

  

If to the Company:

 

Dyax Corp.

55 Network Drive

Burlington, MA 01803

Attention: Chief Financial Officer

 

Copy to:

 

Edwards Wildman Palmer LLP

111 Huntington Avenue

Boston, Massachusetts 02199

Attention: Stacie S. Aarestad, Esq.

 

If to the Trustee:

 

____________________________

____________________________

____________________________

____________________________

____________________________

 

The Company or the Trustee by written notice
to the other may designate additional or different addresses for subsequent notices or communications. Any notice or communication
to the Company or the Trustee shall be deemed to have been given or made as of the date so delivered if personally delivered; when
answered back, if telexed; when receipt is acknowledged, if telecopied; and five (5) calendar days after mailing if sent by registered
or certified mail, postage prepaid (except that a notice of change of address shall not be deemed to have been given until actually
received by the addressee).

 

Any notice or communication mailed to a
Securityholder shall be mailed to him by first-class mail, postage prepaid, at his address shown on the register kept by the Registrar.
In addition, notices or communications to Securityholders shall be given by release made to Reuters Economic Services and Bloomberg
Business News.

 

Failure to mail a notice or communication
to a Securityholder or any defect in it shall not affect its sufficiency with respect to other Securityholders. If a notice or
communication to a Securityholder is mailed in the manner provided above, it shall be deemed duly given five (5) calendar days
after mailing, whether or not the addressee receives it.

 

In case by reason of the suspension of regular
mail service, or by reason of any other cause, it shall be impossible to mail any notice as required by this Indenture, then such
method of notification as shall be made with the approval of the Trustee shall constitute a sufficient mailing of such notice.

 

In the case of Global Securities, notices
or communications to be given to Securityholders shall be given to the Depositary, in accordance with its applicable policies as
in effect from time to time.

 

    	- 40 -

    	 

    

  

		10.3	Communications by Holders with Other Holders.

 

Securityholders of any Series may communicate
pursuant to TIA Section 312(b) with other Securityholders of that Series or any other Series with respect to their rights
under this Indenture or the Securities of that Series or any other Series. The Company, the Trustee, the Registrar and anyone else
shall have the protection of TIA Section 312(c).

 

		10.4	Certificate and Opinion as to Conditions Precedent.

 

Upon any request or application by the Company
to the Trustee to take any action under this Indenture, the Company shall furnish to the Trustee:

 

(1)         an
Officers’ Certificate (which shall include the statements set forth in Section 10.5 below) stating that, in the opinion of
the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied
with; and

 

(2)         an
Opinion of Counsel (which shall include the statements set forth in Section 10.5 below) stating that, in the opinion of such counsel,
all such conditions precedent have been complied with.

 

		10.5	Statement Required in Certificate and Opinion.

 

Each certificate and opinion with respect
to compliance with a condition or covenant provided for in this Indenture shall include:

 

(1)         a
statement that the Person making such certificate or opinion has read such covenant or condition;

 

(2)         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;

 

(3)         a
statement that, in the opinion of such Person, it or he has made such examination or investigation as is necessary to enable it
or him to express an informed opinion as to whether or not such covenant or condition has been complied with; and

 

(4)         a
statement as to whether or not, in the opinion of such Person, such covenant or condition has been complied with.

 

		10.6	Rules by Trustee and Agents.

 

The Trustee may make reasonable rules for
action by or at meetings of Securityholders. The Registrar and Paying Agent may make reasonable rules for their functions.

 

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		10.7	Business Days; Legal Holidays.

 

A “Business Day” is a
day that is not a Legal Holiday. A “Legal Holiday” is a Saturday, a Sunday, a federally recognized holiday or
a day on which banking institutions are not required to be open in the State of New York.

 

If a payment date is a Legal Holiday at
a place of payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall
accrue for the intervening period.

 

		10.8	Governing Law.

 

THIS INDENTURE AND THE SECURITIES SHALL
BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE AND PERFORMED WITHIN
THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO ANY CONFLICT OF LAWS PRINCIPLES THAT WOULD REQUIRE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION). EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO THE JURISDICTION OF THE COURTS OF THE COMMONWEALTH OF MASSACHUSETTS
IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE OR THE SECURITIES.

 

		10.9	No Adverse Interpretation of Other Agreements.

 

This Indenture may not be used to interpret
another indenture, loan, security or debt agreement of the Company or any Subsidiary thereof. No such indenture, loan, security
or debt agreement may be used to interpret this Indenture.

 

		10.10	No Recourse Against Others.

 

A director, officer, employee, stockholder
or incorporator, as such, of the Company shall not have any liability for any obligations of the Company under the Securities or
the Indenture or for any claim based on, in respect of or by reason of such obligations or their creations. Each Securityholder
by accepting a Security waives and releases all such liability. Such waiver and release are part of the consideration for the issuance
of the Securities.

 

		10.11	Successors and Assigns.

 

All agreements of the Company in this Indenture
and the Securities shall bind its successors and assigns, whether so expressed or not. All agreements of the Trustee, any additional
trustee and any Paying Agents in this Indenture shall bind their respective successors and assigns.

 

		10.12	Multiple Counterparts.

 

The parties may sign multiple counterparts
of this Indenture. Each signed counterpart shall be deemed an original, but all of them together represent one and the same agreement.

 

    	- 42 -

    	 

    

  

		10.13	Table of Contents, Headings, Etc.

 

The table of contents, cross-reference sheet
and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not to be
considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof.

 

		10.14	Separabilty.

 

Each provision of this Indenture shall be
considered separable and if for any reason any provision which is not essential to the effectuation of the basic purpose of this
Indenture or the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby.

 

		10.15	Securities in a Foreign Currency or in Euro.

 

Unless otherwise specified in a Board Resolution,
a supplemental indenture hereto or an Officers’ Certificate delivered pursuant to Section 2.2 of this Indenture with respect
to a particular Series of Securities, whenever for purposes of this Indenture any action may be taken by the Holders of a specified
percentage in aggregate principal amount of Securities of all Series or all Series affected by a particular action at the time
outstanding and, at such time, there are outstanding Securities of any Series which are denominated in a coin or currency other
than Dollars (including Euros), then the principal amount of Securities of such Series which shall be deemed to be outstanding
for the purpose of taking such action shall be that amount of Dollars that could be obtained for such amount at the Market Exchange
Rate at such time. For purposes of this Section 10.16, “Market Exchange Rate” shall mean the noon Dollar buying
rate in New York City for cable transfers of that currency as published by the Federal Reserve Bank of New York; provided,
however, in the case of Euros, Market Exchange Rate shall mean the rate of exchange determined by the Commission of the
European Union (or any successor thereto) as published in the Official Journal of the European Union (such publication or any successor
publication, the “Journal”). If such Market Exchange Rate is not available for any reason with respect to such
currency, the Trustee shall use, in its sole discretion and without liability on its part, such quotation of the Federal Reserve
Bank of New York or, in the case of Euros, the rate of exchange as published in the Journal, as of the most recent available date,
or quotations or, in the case of Euros, rates of exchange from one or more major banks in The City of New York or in the country
of issue of the currency in question or, in the case of Euros, in Luxembourg or such other quotations or, in the case of Euros,
rates of exchange as the Trustee, upon consultation with the Company, shall deem appropriate. The provisions of this paragraph
shall apply in determining the equivalent principal amount in respect of Securities of a Series denominated in currency other than
Dollars in connection with any action taken by Holders of Securities pursuant to the terms of this Indenture.

 

All decisions and determinations of the
Trustee regarding the Market Exchange Rate or any alternative determination provided for in the preceding paragraph shall be in
its sole discretion and shall, in the absence of manifest error, be conclusive to the extent permitted by law for all purposes
and irrevocably binding upon the Company and all Holders.

 

    	- 43 -

    	 

    

 

		10.16	Judgment Currency.

 

The Company agrees, to the fullest extent
that it may effectively do so under applicable law, that (a) if for the purpose of obtaining judgment in any court it is necessary
to convert the sum due in respect of the principal of or interest or premium (if any) or other amount on the Securities of any
Series (the “Required Currency”) into a currency in which a judgment will be rendered (the “Judgment
Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee
could purchase in The City of New York the Required Currency with the Judgment Currency on the day on which final unappealable
judgment is entered, unless such day is not a New York Banking Day, then, the rate of exchange used shall be the rate at which
in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the
Judgment Currency on the New York Banking Day preceding the day on which final unappealable judgment is entered and (b) its obligations
under this Indenture to make payments in the Required Currency (i) shall not be discharged or satisfied by any tender, any recovery
pursuant to any judgment (whether or not entered in accordance with subsection (a)), in any currency other than the Required Currency,
except to the extent that such tender or recovery shall result in the actual receipt, by the payee, of the full amount of the Required
Currency expressed to be payable in respect of such payments, (ii) shall be enforceable as an alternative or additional cause of
action for the purpose of recovering in the Required Currency the amount, if any, by which such actual receipt shall fall short
of the full amount of the Required Currency so expressed to be payable, and (iii) shall not be affected by judgment being obtained
for any other sum due under this Indenture. For purposes of the foregoing, “New York Banking Day” means any
day except a Saturday, Sunday or a legal holiday in The City of New York on which banking institutions are authorized or required
by law, regulation or executive order to close.

 

[Remainder of Page Intentionally Left Blank]

 

    	- 44 -

    	 

    

 

This instrument may be executed in any number
of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute
but one and the same instrument.

 

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

 

	 	  DYAX CORP.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	[Name of Trustee]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	- 45 -

    	 

    

  

Table
of Contents

 

	 	 	 	Page
	Article 1	 	DEFINITIONS AND INCORPORATION BY REFERENCE	1
	 	 	 	 
	1.1	 	Definitions	1
	 	 	 	 
	1.2	 	Other Definitions	5
	 	 	 	 
	1.3	 	Incorporation by Reference of Trust Indenture Act	5
	 	 	 	 
	1.4	 	Rules of Construction	6
	 	 	 	 
	Article 2	 	THE SECURITIES	6
	 	 	 	 
	2.1	 	Issuable in Series	6
	 	 	 	 
	2.2	 	Establishment of Terms of Series of Securities	7
	 	 	 	 
	2.3	 	Execution and Authentication	9
	 	 	 	 
	2.4	 	Registrar and Paying Agent	10
	 	 	 	 
	2.5	 	Paying Agent To Hold Assets in Trust	11
	 	 	 	 
	2.6	 	Securityholder Lists	11
	 	 	 	 
	2.7	 	Transfer and Exchange	11
	 	 	 	 
	2.8	 	Replacement Securities	12
	 	 	 	 
	2.9	 	Outstanding Securities	12
	 	 	 	 
	2.10	 	Treasury Securities	13
	 	 	 	 
	2.11	 	Temporary Securities	13
	 	 	 	 
	2.12	 	Cancellation	13
	 	 	 	 
	2.13	 	Payment of Interest; Defaulted Interest; Computation of Interest	13
	 	 	 	 
	2.14	 	CUSIP Number	14
	 	 	 	 
	2.15	 	Provisions for Global Securities	14
	 	 	 	 
	2.16	 	Persons Deemed Owners	16
	 	 	 	 
	Article 3	 	REDEMPTION	16
	 	 	 	 
	3.1	 	Notices of Trustee	16
	 	 	 	 
	3.2	 	Selection by Trustee of Securities to Be Redeemed	16
	 	 	 	 
	3.3	 	Notice of Redemption	17
	 	 	 	 
	3.4	 	Effect of Notice of Redemption	18
	 	 	 	 
	3.5	 	Deposit of Redemption Price	18
	 	 	 	 
	3.6	 	Securities Redeemed in Part	18
	 	 	 	 
	Article 4	 	COVENANTS	18
	 	 	 	 
	4.1	 	Payment of Securities	18

 

    	-i-

    	 

    

 

Table
of Contents

(continued)

	 	 	 	Page
	 	 	 	 
	4.2	 	SEC Reports	19
	 	 	 	 
	4.3	 	Waiver of Stay, Extension or Usury Laws	19
	 	 	 	 
	4.4	 	Compliance Certificate	19
	 	 	 	 
	4.5	 	Payment of Taxes and Other Claims	20
	 	 	 	 
	4.6	 	Corporate Existence	20
	 	 	 	 
	4.7	 	Maintenance of Properties	20
	 	 	 	 
	Article 5	 	SUCCESSOR CORPORATION	21
	 	 	 	 
	5.1	 	Limitation on Consolidation, Merger and Sale of Assets	21
	 	 	 	 
	5.2	 	Successor Person Substituted	22
	 	 	 	 
	Article 6	 	DEFAULTS AND REMEDIES	22
	 	 	 	 
	6.1	 	Events of Default	22
	 	 	 	 
	6.2	 	Acceleration	23
	 	 	 	 
	6.3	 	Other Remedies	23
	 	 	 	 
	6.4	 	Waiver of Past Defaults and Events of Default	24
	 	 	 	 
	6.5	 	Control by Majority	24
	 	 	 	 
	6.6	 	Limitation on Suits	24
	 	 	 	 
	6.7	 	Rights of Holders To Receive Payment	25
	 	 	 	 
	6.8	 	Collection Suit by Trustee	25
	 	 	 	 
	6.9	 	Trustee May File Proofs of Claim	25
	 	 	 	 
	6.10	 	Priorities	26
	 	 	 	 
	6.11	 	Undertaking for Costs	26
	 	 	 	 
	Article 7	 	TRUSTEE	26
	 	 	 	 
	7.1	 	Duties of Trustee	26
	 	 	 	 
	7.2	 	Rights of Trustee	28
	 	 	 	 
	7.3	 	Individual Rights of Trustee	28
	 	 	 	 
	7.4	 	Trustee’s Disclaimer	28
	 	 	 	 
	7.5	 	Notice of Default	29
	 	 	 	 
	7.6	 	Reports by Trustee to Holders	29
	 	 	 	 
	7.7	 	Compensation and Indemnity	29
	 	 	 	 
	7.8	 	Replacement of Trustee	30
	 	 	 	 
	7.9	 	Successor Trustee by Consolidation, Merger or Conversion	31

  

    	-ii-

    	 

    

 

Table
of Contents

(continued)

 

	 	 	 	Page
	 	 	 	 
	7.10	 	Eligibility; Disqualification	31
	 	 	 	 
	7.11	 	Preferential Collection of Claims Against Company	31
	 	 	 	 
	7.12	 	Paying Agents	31
	 	 	 	 
	Article 8	 	AMENDMENTS, SUPPLEMENTS AND WAIVERS	32
	 	 	 	 
	8.1	 	Without Consent of Holders	32
	 	 	 	 
	8.2	 	With Consent of Holders	32
	 	 	 	 
	8.3	 	Compliance with Trust Indenture Act	34
	 	 	 	 
	8.4	 	Revocation and Effect of Consents	34
	 	 	 	 
	8.5	 	Notation on or Exchange of Securities	34
	 	 	 	 
	8.6	 	Trustee to Sign Amendments, Etc	35
	 	 	 	 
	Article 9	 	DISCHARGE OF INDENTURE; DEFEASANCE	35
	 	 	 	 
	9.1	 	Discharge of Indenture	35
	 	 	 	 
	9.2	 	Legal Defeasance	35
	 	 	 	 
	9.3	 	Covenant Defeasance	36
	 	 	 	 
	9.4	 	Conditions to Legal Defeasance or Covenant Defeasance	36
	 	 	 	 
	9.5	 	Deposited Money and U.S. and Foreign Government Obligations to be Held in Trust; Other Miscellaneous Provisions	38
	 	 	 	 
	9.6	 	Reinstatement	38
	 	 	 	 
	9.7	 	Moneys Held by Paying Agent	38
	 	 	 	 
	9.8	 	Moneys Held by Trustee	39
	 	 	 	 
	Article 10	 	MISCELLANEOUS	39
	 	 	 	 
	10.1	 	Trust Indenture Act Controls	39
	 	 	 	 
	10.2	 	Notices	39
	 	 	 	 
	10.3	 	Communications by Holders with Other Holders	41
	 	 	 	 
	10.4	 	Certificate and Opinion as to Conditions Precedent	41
	 	 	 	 
	10.5	 	Statement Required in Certificate and Opinion	41
	 	 	 	 
	10.6	 	Rules by Trustee and Agents	41
	 	 	 	 
	10.7	 	Business Days; Legal Holidays	42
	 	 	 	 
	10.8	 	Governing Law	42
	 	 	 	 
	10.9	 	No Adverse Interpretation of Other Agreements	42
	 	 	 	 
	10.10	 	No Recourse Against Others	42

 

    	-iii-

    	 

    

 

Table
of Contents

(continued)

  

	 	 	 	Page
	 	 	 	 
	10.11	 	Successors and Assigns	42
	 	 	 	 
	10.12	 	Multiple Counterparts	42
	 	 	 	 
	10.13	 	Table of Contents, Headings, Etc	43
	 	 	 	 
	10.14	 	Separabilty	43
	 	 	 	 
	10.15	 	Securities in a Foreign Currency or in Euros	43
	 	 	 	 
	10.16	 	Judgment Currency	44

 

    	-iv-

    	 

    

 

Table
of Contents

(continued)

		Page
	CROSS-REFERENCE TABLE	 
	 	 
	TIA SECTION	INDENTURE SECTION
	310(a)(1)	7.10
	(a)(2)	7.10
	(a)(3)	N/A
	(a)(4)	N/A
	(a)(5)	7.10
	(b)	7.8; 7.10; 10.2
	(b)(1)	7.10
	(b)(9)	7.10
	(c)	N/A
	311(a)	7.11
	(b)	7.11
	(c)	N/A
	312(a)	2.6
	(b)	10.3
	(c)	10.3
	313(a)	7.6
	(b)(1)	7.6
	(b)(2)	7.6
	(c)	7.6; 10.2
	(d)	7.6
	314(a)	4.2; 4.4; 10.2
	(b)	N/A
	(c)(1)	10.4; 10.5
	(c)(2)	10.4; 10.5
	(c)(3)	N/A
	(d)	N/A
	(e)	10.5
	(f)	N/A
	315(a)	7.1, 7.2
	(b)	7.5; 10.2
	(c)	7.1
	(d)	6.5; 7.1; 7.2
	(e)	6.11
	316(a)(last sentence)	2.10
	(a)(1)(A)	6.5
	(a)(1)(B)	6.4
	(a)(2)	8.2
	(b)	6.7
	(c)	8.4
	317(a)(1)	6.8
	(a)(2)	6.9
	(b)	2.5; 7.12
	318(a)	10.1

 

 

N/A means not applicable

 

		Note:	This Cross-Reference Table shall not, for any purpose, be deemed to be a part of the Indenture.

 

    	-v-

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