Document:

Exhibit
4.9

 

 

 

 

 

 

 

 

 

 

 

 

KITOV
PHARMACEUTICALS HOLDINGS LTD.

ISSUER

TO

,

 

TRUSTEE

 

INDENTURE

 

[CONVERTIBLE]
[SUBORDINATED] DEBT SECURITIES

 

 

DATED
AS OF                     ,
20

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

Reconciliation
and tie between Trust Indenture Act of 1939 (the “Trust Indenture Act” or “TIA”) and Indenture

 

	Trust
Indenture Act of 1939 Section	 	Indenture Section
	 	 	 
	310(a)(1)	 	6.8
	(a)(2)	 	6.8
	(a)(3)	 	TIA
	(a)(4)	 	Not
    Applicable
	(a)(5)	 	TIA
	(b)	 	6.9
	311(a)	 
	(b)	 	TIA
	 	 	TIA
	312(a)	 
	(b)	 	7.1
	(c)	 	7.2
	 	 	7.2
	313(a)	 
	(b)	 	7.3
	(c)	 	7.3
	(d)	 	7.3
	 	 	7.3
	314(a)	 
	(b)	 	7.4;
    TIA
	(c)(1)	 	Not
    Applicable
	(c)(2)	 	1.2
	(c)(3)	 	1.2
	(d)	 	Not
    Applicable
	(e)	 	Not
    Applicable
	(f)	 	1.2
	 	 	1.2
	315(a)	 
	(b)	 	6.1;
    TIA
	(c)	 	6.3
	(d)(1)	 	6.1;
    TIA
	(d)(2)	 	6.1;
    TIA
	(d)(3)	 	6.1;
    TIA
	(e)	 	6.1;
    TIA
	 	 	5.15;
    TIA
	316(a)
    (last sentence)	 
	(a)(1)(A)	 	1.1
	(a)(1)(B)	 	5.2;
    5.12
	(b)	 	5.13
	(c)	 	5.8
	317(a)(1)	 	TIA
	(a)(2)	 	5.3
	(b)	 	5.4
	 	 	10.3
	318(a)	 
	(b)	 	1.8
	(c)	 	TIA

 

 

This
reconciliation and tie section does not constitute part of the Indenture.

 

     

     

    

 

TABLE OF CONTENTS

 

	Article
1. DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	1
	 	
	Section 1.1	Definitions.	1
	Section 1.2	Compliance Certificates and Opinions.	7
	Section 1.3	Form of Documents Delivered to Trustee.	8
	Section 1.4	Acts of Holders.	8
	Section 1.5	Notices, Etc. to the Trustee and the Company.	9
	Section 1.6	Notice to Holders of Securities; Waiver.	10
	Section 1.7	Language of Notices.	10
	Section 1.8	Conflict with Trust Indenture Act.	10
	Section 1.9	Effect of Headings and Table of Contents.	11
	Section 1.10	Successors and Assigns.	11
	Section 1.11	Separability Clause.	11
	Section 1.12	Benefits of Indenture.	11
	Section 1.13	Governing Law.	11
	Section 1.14	Legal Holidays.	11
	Section 1.15	Counterparts.	11
	Section 1.16	Judgment Currency.	12
	Section 1.17	No Security Interest Created.	12
	Section 1.18	Limitation on Individual Liability.	12
	 	 
	Article 2. SECURITIES FORMS  	12
	 	 
	Section 2.1	Forms Generally.	12
	Section 2.2	Form of Trustee’s Certificate of Authentication.	12
	Section 2.3	Securities in Global Form.	13
	 	 
	Article 3. THE SECURITIES  	13
	 	 
	Section 3.1	Amount Unlimited; Issuable in Series.	13
	Section 3.2	Currency; Denominations.	16
	Section 3.3	Execution, Authentication, Delivery and Dating.	16
	Section 3.4	Temporary Securities.	17
	Section 3.5	Registration, Transfer and Exchange.	18
	Section 3.6	Mutilated, Destroyed, Lost and Stolen Securities.	20
	Section 3.7	Payment of Interest and Certain Additional Amounts; Rights to Interest and Certain Additional Amounts Preserved.	20
	Section 3.8	Persons Deemed Owners.	21
	Section 3.9	Cancellation.	22
	Section 3.10	Computation of Interest.	22

  

    	 	i	 

     

    

 

	Article
    4. SATISFACTION AND DISCHARGE OF INDENTURE	22
	 	 	 
	Section
    4.1	Satisfaction
    and Discharge.	22
	Section
    4.2	Defeasance
    and Covenant Defeasance.	23
	Section
    4.3	Application
    of Trust Money.	25
	Section
    4.4	Reinstatement.	26
	 	 	
	Article
                                         5. REMEDIES
	26
	 	 	 
	Section
    5.1	Events
    of Default.	26
	Section
    5.2	Acceleration
    of Maturity; Rescission and Annulment.	27
	Section
    5.3	Collection
    of Indebtedness and Suits for Enforcement by Trustee.	28
	Section
    5.4	Trustee
    May File Proofs of Claim.	28
	Section
    5.5	Trustee
    May Enforce Claims Without Possession of Securities or Coupons.	29
	Section
    5.6	Application
    of Money Collected.	29
	Section
    5.7	Limitations
    on Suits.	29
	Section
    5.8	Unconditional
    Right of Holders to Receive Principal and Any Premium, Interest and Additional Amounts.	29
	Section
    5.9	Restoration
    of Rights and Remedies.	30
	Section
    5.10	Rights
    and Remedies Cumulative.	30
	Section
    5.11	Delay
    or Omission Not Waiver.	30
	Section
    5.12	Control
    by Holders of Securities.	30
	Section
    5.13	Waiver
    of Past Defaults.	30
	Section
    5.14	Waiver
    of Usury, Stay or Extension Laws.	31
	Section
    5.15	Undertaking
    for Costs.	31
	 	 	 
	Article
    6. THE TRUSTEE  	31
	 	 	
	Section
    6.1	Certain
    Duties and Responsibilities.	31
	Section
    6.2	Certain
    Rights of Trustee.	32
	Section
    6.3	Notice
    of Defaults.	33
	Section
    6.4	Not
    Responsible for Recitals or Issuance of Securities.	33
	Section
    6.5	May
    Hold Securities.	33
	Section
    6.6	Money
    Held in Trust.	33
	Section
    6.7	Compensation
    and Reimbursement.	33
	Section
    6.8	Corporate
    Trustee Required; Eligibility.	34
	Section
    6.9	Resignation
    and Removal; Appointment of Successor.	34
	Section
    6.10	Acceptance
    of Appointment by Successor.	35
	Section
    6.11	Merger,
    Conversion, Consolidation or Succession to Business.	36
	Section
    6.12	Appointment
    of Authenticating Agent.	36

 

    	 	ii	 

     

    

 

	Article
    7. HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY	37
	 	 
	Section
    7.1	Company
    to Furnish Trustee Names and Addresses of Holders.	37
	Section
    7.2	Preservation
    of Information; Communications to Holders.	38
	Section
    7.3	Reports
    by Trustee.	38
	Section
    7.4	Reports
    by Company.	38
	 	
	Article
    8. CONSOLIDATION, MERGER AND SALES	38
	 
	Section
    8.1	Company
    May Consolidate, Etc., Only on Certain Terms.	38
	Section
    8.2	Successor
    Person Substituted for Company.	39
	 	 
	Article
    9. SUPPLEMENTAL INDENTURES	39
	 	 
	Section
    9.1	Supplemental
    Indentures Without Consent of Holders.	39
	Section
    9.2	Supplemental
    Indentures With Consent of Holders.	40
	Section
    9.3	Execution
    of Supplemental Indentures.	41
	Section
    9.4	Effect
    of Supplemental Indentures.	41
	Section
    9.5	Reference
    in Securities to Supplemental Indentures.	41
	Section
    9.6	Conformity
    With Trust Indenture Act.	41
	Section
    9.7	Notice
    of Supplemental Indenture.	41
	 	 
	Article
    10. COVENANTS	42
	 
	Section
    10.1	Payment
    of Principal, Any Premium, Interest and Additional Amounts.	42
	Section
    10.2	Maintenance
    of Office or Agency.	42
	Section
    10.3	Money
    for Securities Payments to be Held in Trust.	42
	Section
    10.4	Additional
    Amounts.	43
	Section
    10.5	Corporate
    Existence.	44
	Section
    10.6	Waiver
    of Certain Covenants.	44
	Section
    10.7	Company
    Statement as to Compliance; Notice of Certain Defaults.	44
	 	 
	Article
    11. REDEMPTION OF SECURITIES	45
	 	 
	Section
    11.1	Applicability
    of Article.	45
	Section
    11.2	Election
    to Redeem; Notice to Trustee.	45
	Section
    11.3	Selection
    by Trustee of Securities to be Redeemed.	45
	Section
    11.4	Notice
    of Redemption.	45
	Section
    11.5	Deposit
    of Redemption Price.	46
	Section
    11.6	Securities
    Payable on Redemption Date.	47
	Section
    11.7	Securities
    Redeemed in Part.	47

 

    	 	iii	 

     

    

 

	Article
    12. SINKING FUNDS	47
	 	 
	Section
    12.1	Applicability
    of Article.	47
	Section
    12.2	Satisfaction
    of Sinking Fund Payments With Securities.	48
	Section
    12.3	Redemption
    of Securities for Sinking Fund.	48
	 	 	48
	Article
    13. REPAYMENT AT THE OPTION OF HOLDERS	48
	 
	Section
    13.1	Applicability
    of Article.	48
	 	 
	Article
    14. MEETINGS OF HOLDERS OF SECURITIES	49
	 	 
	Section
    14.1	Purposes
    for Which Meetings May Be Called.	49
	Section
    14.2	Call,
    Notice and Place of Meetings.	49
	Section
    14.3	Persons
    Entitled to Vote at Meetings.	49
	Section
    14.4	Quorum;
    Action.	49
	Section
    14.5	Determination
    of Voting Rights; Conduct and Adjournment of Meetings.	50
	Section
    14.6	Counting
    Votes and Recording Action of Meetings.	50
	 	 
	Article
    15. [CONVERSION OF SECURITIES	51
	 	
	Section
    15.1	Conversion
    Privilege.	51
	Section
    15.2	Exercise
    of Conversion Privilege.	51
	Section
    15.3	Fractions
    of Shares.	52
	Section
    15.4	Adjustment
    of Conversion Price.	52
	Section
    15.5	Notice
    of Adjustments of Conversion Price.	52
	Section
    15.6	Notice
    of Certain Corporate Action.	52
	Section
    15.7	Company
    to Reserve Common Stock.	53
	Section
    15.8	Taxes
    on Conversions.	53
	Section
    15.9	Covenant
    as to Common Stock.	53
	Section
    15.10	Cancellation
    of Converted Securities.	53
	Section
    15.11	Provisions
    in Case of Consolidation, Merger of Sale of Assets.	53
	 	 
	Article
    16. [SUBORDINATION OF SECURITIES	54
	 	 
	Section
    16.1	Securities
    Subordinate to Senior Indebtedness.	54
	Section
    16.2	Payment
    Over of Proceeds Upon Dissolution, Etc.	54
	Section
    16.3	No
    Payment when Senior Indebtedness in Default.	55
	Section
    16.4	Reliance
    by Senior Indebtedness on Subordination Provisions.	56
	Section
    16.5	Payment
    Permitted If No Default.	56
	Section
    16.6	Subrogation
    to Rights of Holders of Senior Indebtedness.	56
	Section
    16.7	Provisions
    Solely to Define Relative Rights.	56
	Section
    16.8	Trustee
    to Effectuate Subordination.	56
	Section
    16.9	No
    Waiver of Subordination Provisions.	57
	Section
    16.10	Notice
    to Trustee.	57
	Section
    16.11	Reliance
    on Judicial Order or Certificate of Liquidating Agent.	57
	Section
    16.12	Trustee
    Not Fiduciary for Holders of Senior Indebtedness.	57
	Section
    16.13	Rights
    of Trustee as Holder of Senior Indebtedness; Preservation of Trustee’s Rights.	57
	Section
    16.14	Article
    Applicable to Paying Agents.	58
	Section
    16.15	Defeasance
    of this Article 16.	58
	 	 
	Article
    17. GUARANTEES	58

 

    	 	iv	 

     

    

 

INDENTURE,
dated as of                     ,
20     (the “Indenture”), among Kitov Pharmaceuticals Holdings Ltd., a corporation duly organized
and existing under the laws of the State of Israel (hereinafter called the “Company”), having its principal executive
office located at One Azrieli Center, Round Tower, 23rd Floor, 132 Menachem Begin Road, Tel Aviv 6701101, Israel, and                     ,
a                     , as
trustee (hereinafter called the “Trustee”), having its Corporate Trust Office located at             .

 

RECITALS

 

The
Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its
unsecured, [subordinated,] [convertible] debentures, notes or other evidences of indebtedness (hereinafter called the “Securities”),
unlimited as to principal amount, to bear such rates of interest, to mature at such time or times, to be issued in one or more
series and to have such other provisions as shall be fixed as hereinafter provided.

 

The
Company has duly authorized the execution and delivery of this Indenture. All things necessary to make this Indenture a valid
agreement of the Company, in accordance with its terms, have been done.

 

NOW,
THEREFORE, THIS INDENTURE WITNESSETH:

 

For
and in consideration of the premises and the purchase of the Securities by the Holders (as herein defined) thereof, it is mutually
covenanted and agreed, for the equal and proportionate benefit of all Holders of the Securities or of any series thereof and any
Coupons (as herein defined) as follows:

 

Article
1.

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

 

Section
1.1Definitions.

 

Except
as otherwise expressly provided in or pursuant to this Indenture or unless the context otherwise requires, for all purposes of
this Indenture:

 

(1)
the terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the singular;

 

(2)
all other terms used herein which are defined in the Trust Indenture Act, either directly or by reference therein, have the meanings
assigned to them therein;

 

(3)
all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting
principles in the United States of America and, except as otherwise herein expressly provided, the terms “generally accepted
accounting principles” or “GAAP” with respect to any computation required or permitted hereunder shall mean
such accounting principles as are generally accepted in the United States of America at the date or time of such computation;

 

(4)
the words “herein,” “hereof,” “hereto” and “hereunder” and other words of similar
import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision; and

 

(5)
the word “or” is always used inclusively (for example, the phrase “A or B” means “A or B or both,”
not “either A or B but not both”).

 

Certain
terms used principally in certain Articles hereof are defined in those Articles.

 

“Act,”
when used with respect to any Holders, has the meaning specified in Section 1.4.

 

“Additional
Amounts” means any additional amounts which are required hereby or by any Security, under circumstances specified herein
or therein, to be paid by the Company in respect of certain taxes, assessments or other governmental charges imposed on Holders
specified therein and which are owing to such Holders.

 

“Affiliate”
of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect
common control with such specified Person. For the purposes of this definition, “control,” when used with respect
to any specified Person, means the power to direct the management and policies of such Person, directly or indirectly, whether
through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled”
have the meanings correlative to the foregoing.

 

    	 	1	 

     

    

 

“Authenticating
Agent” means any Person authorized by the Trustee pursuant to Section 6.12 to act on behalf of the Trustee to authenticate
Securities of one or more series.

 

“Authorized
Newspaper” means a newspaper, in an official language of the place of publication or in the English language, customarily
published on each day that is a Business Day in the place of publication, whether or not published on days that are Legal Holidays
in the place of publication, and of general circulation in each place in connection with which the term is used or in the financial
community of each such place. Where successive publications are required to be made in Authorized Newspapers, the successive publications
may be made in the same or in different newspapers in the same city meeting the foregoing requirements and in each case on any
day that is a Business Day in the place of publication.

 

“Authorized
Officer” means, when used with respect to the Company, the Chairman of the Board of Directors, the Chief Executive Officer,
the President, any Vice President, the Chief Financial Officer, the Chief Operating Officer, the Chief Accounting Officer, the
Secretary or an Assistant Secretary, of the Company.

 

“Bearer
Security” means any Security in the form established pursuant to Section 2.1 which is payable to bearer.

 

“Board
of Directors” means the board of directors of the Company or any committee of that board duly authorized to act generally
or in any particular respect for the Company hereunder.

 

“Board
Resolution” means a copy of one or more resolutions, certified by the Secretary or an Assistant Secretary of the Company
to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, delivered
to the Trustee.

 

“Business
Day,” with respect to any Place of Payment or other location, means, unless otherwise specified with respect to any Securities
pursuant to Section 3.1, any day other than a Saturday, Sunday or other day on which banking institutions in such Place of
Payment or other location are authorized or obligated by law, regulation or executive order to close.

 

“Capital
Stock” of any Person means any and all shares, interests, rights to purchase, warrants, options, participations or other
equivalents of or interests in (however designated) equity of such Person, including Preferred Stock, but excluding any debt securities
convertible into such equity.

 

“Capitalized
Lease Obligation” means an obligation under a lease that is required to be capitalized for financial reporting purposes
in accordance with generally accepted accounting principles, and the amount of Indebtedness represented by such obligation shall
be the capitalized amount of such obligation determined in accordance with such principles.

 

“Commission”
means the Securities and Exchange Commission, as from time to time constituted, created under the Securities Exchange Act of 1934,
as amended, or, if at any time after the execution of this Indenture such Commission is not existing and performing the duties
now assigned to it under the Trust Indenture Act, then the body performing such duties at such time.

 

“Common
Stock” in respect of any Corporation means Capital Stock of any class or classes (however designated) which has no preference
as to the payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution
of such Corporation, and which is not subject to redemption by such Corporation. [With respect to the Company, subject to the
provisions of Section 15.11, shares issuable on conversion of Securities shall include only shares of the class designated as
Common Stock of the Company at the date of this instrument or shares of any class or classes resulting from any reclassification
or reclassifications thereof and which have no preference in respect of dividends or of amounts payable in the event of any voluntary
or involuntary liquidation, dissolution or winding-up of the Company and which are not subject to redemption by the Company; provided
that if at any time there shall be more than one such resulting class, the shares of each such class then so issuable shall be
substantially in the proportion which the total number of shares of such class resulting from all such reclassifications bears
to the total number of shares of all such classes resulting from all such reclassifications.]

 

    	 	2	 

     

    

 

“Company”
means the Person named as the “Company” in the first paragraph of this instrument until a successor Person shall have
become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor
Person, and any other obligor upon the Securities.

 

“Company
Request” and “Company Order” mean, respectively, a written request or order, as the case may be, signed in the
name of the Company by an Authorized Officer, and delivered to the Trustee.

 

“Corporate
Trust Office” means the principal corporate trust office of the Trustee at which at any particular time its corporate trust
business shall be administered, which office at the date of original execution of this Indenture is located at                     .

 

“Corporation”
includes corporations and limited liability companies and, except for purposes of Article 8, associations, companies and business
trusts.

 

“Coupon”
means any interest coupon appertaining to a Bearer Security.

 

“CUSIP
number” means the alphanumeric designation assigned to a Security by Standard & Poor’s Ratings Service, CUSIP
Service Bureau.

 

“Defaulted
Interest” has the meaning specified in Section 3.7.

 

“Dollars”
or “$” means a dollar or other equivalent unit of legal tender for payment of public or private debts in the United
States of America.

 

“Event
of Default” has the meaning specified in Section 5.1.

 

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

 

“Guarantee”
means a guarantee of any Securities by a Guarantor as contemplated by Article 17; provided that the term “Guarantee,”
when used with respect to any Security or with respect to the Securities of any series, means a guarantee of such Security or
of the Securities of such series, respectively, by a Guarantor of such Security or of the Securities of such series, respectively,
as contemplated by Article 17.

 

“Guarantor”
means each Person who shall become a Guarantor under this Indenture pursuant to Article 9 hereof, in each case unless and
until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, at which time references
to such Guarantor shall mean such successor Person; provided that (i) the term “Guarantor,” when used,
with respect to the Securities of any series, means the Persons who shall from time to time be the guarantors of Securities of
such series as contemplated by Article 17; and (ii) any Person constituting a Guarantor with respect to the Securities
of a series shall cease to constitute a Guarantor with respect to Securities of such series when its Guarantee is released with
respect to Securities of such series in accordance with the terms of this Indenture.

 

“Guarantor’s
Officers’ Certificate” means, with respect to any Guarantor, a certificate signed by any two of the following: a Chairman
of the Board, a Chief Executive Officer, a President, a Vice President, a Treasurer, an Assistant Treasurer, a Secretary or an
Assistant Secretary of such Guarantor (or, if such Guarantor is a partnership that has no such officers, of a general partner
of such Guarantor), or any other officer or officers of such Guarantor (or of such a general partner) designated in a writing
by or pursuant to authority of such Guarantor’s Board of Directors and delivered to the Trustee from time to time.

 

    	 	3	 

     

    

 

“Holder,”
in the case of any Registered Security, means the Person in whose name such Security is registered in the Security Register and,
in the case of any Bearer Security, means the bearer thereof and, in the case of any Coupon, means the bearer thereof.

 

“Indebtedness”
means, with respect to any Person, (i) the principal of and any premium and interest on (a) indebtedness of such Person
for money borrowed and (b) indebtedness evidenced by notes, debentures, bonds or other similar instruments for the payment
of which such Person is responsible or liable; (ii) all Capitalized Lease Obligations of such Person; (iii) all obligations
of such Person issued or assumed as the deferred purchase price of property, all conditional sale obligations and all obligations
under any title retention agreement (but excluding trade accounts payable arising in the ordinary course of business); (iv) all
obligations of such Person for the reimbursement of any obligor on any letter of credit, banker’s acceptance or similar
credit transaction (other than obligations with respect to letters of credit securing obligations (other than obligations described
in (i) through (iii) above) entered into in the ordinary course of business of such Person to the extent such letters
of credit are not drawn upon or, if and to the extent drawn upon, such drawing is reimbursed no later than the third Business
Day following receipt by such Person of a demand for reimbursement following payment on the letter of credit); (v) all obligations
of the type referred to in clauses (i) through (iv) of other Persons and all dividends of other Persons for the payment
of which, in either case, such Person is responsible or liable as obligor, guarantor or otherwise; and (vi) all obligations
of the type referred to in clauses (i) through (v) of other Persons secured by any lien on any property or asset of
such Person (whether or not such obligation is assumed by such Person), the amount of such obligation being deemed to be the lesser
of the value of such property or assets or the amount of the obligation so secured; and (vii) any amendments, modifications,
refundings, renewals or extensions of any indebtedness or obligation described as Indebtedness in clauses (i) through (vi) above.

 

“Indenture”
means this instrument as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered
into pursuant to the applicable provisions hereof and, with respect to any Security, by the terms and provisions of such Security
and any Coupon appertaining thereto established pursuant to Section 3.1 (as such terms and provisions may be amended pursuant
to the applicable provisions hereof).

 

“Independent
Public Accountants” means accountants or a firm of accountants that, with respect to the Company and any other obligor under
the Securities or the Coupons, are independent public accountants within the meaning of the Securities Act of 1933, as amended,
and the rules and regulations promulgated by the Commission thereunder, who may be the independent public accountants regularly
retained by the Company or who may be other independent public accountants. Such accountants or firm shall be entitled to rely
upon any Opinion of Counsel as to the interpretation of any legal matters relating to this Indenture or certificates required
to be provided hereunder.

 

“Indexed
Security” means a Security the terms of which provide that the principal amount thereof payable at Stated Maturity may be
more or less than the principal face amount thereof at original issuance.

 

“Interest,”
with respect to any Original Issue Discount Security which by its terms bears interest only after Maturity, means interest payable
after Maturity and, when used with respect to a Security which provides for the payment of Additional Amounts pursuant to Section 10.4,
includes such Additional Amounts.

 

“Interest
Payment Date,” with respect to any Security, means the Stated Maturity of an installment of interest on such Security.

 

“Judgment
Currency” has the meaning specified in Section 1.16.

 

“Legal
Holidays” has the meaning specified in Section 1.14.

 

“Maturity,”
with respect to any Security, means the date on which the principal of such Security or an installment of principal becomes due
and payable as provided in or pursuant to this Indenture, whether at the Stated Maturity or by declaration of acceleration, notice
of redemption or repurchase, notice of option to elect repayment or otherwise, and includes the Redemption Date.

 

“New
York Banking Day” has the meaning specified in Section 1.16.

 

“Office”
or “Agency,” with respect to any Securities, means an office or agency of the Company maintained or designated in
a Place of Payment for such Securities pursuant to Section 10.2 or any other office or agency of the Company maintained or
designated for such Securities pursuant to Section 10.2 or, to the extent designated or required by Section 10.2 in
lieu of such office or agency, the Corporate Trust Office of the Trustee.

 

    	 	4	 

     

    

 

“Officer’s
Certificate” means a certificate signed by an Authorized Officer that complies with the requirements of Section 314(e)
of the Trust Indenture Act and is delivered to the Trustee.

 

“Opinion
of Counsel” means a written opinion of counsel, who may be an employee of or counsel for the Company, or other counsel who
shall be reasonably acceptable to the Trustee, that, if required by the Trust Indenture Act, complies with the requirements of
Section 314(e) of the Trust Indenture Act.

 

“Original
Issue Discount Security” means a Security issued pursuant to this Indenture which provides for declaration of an amount
less than the principal face amount thereof to be due and payable upon acceleration pursuant to Section 5.2.

 

“Outstanding,”
when used with respect to any Securities, means, as of the date of determination, all such Securities theretofore authenticated
and delivered under this Indenture, except:

 

(a)
any such Security theretofore cancelled by the Trustee or the Security Registrar or delivered to the Trustee or the Security Registrar
for cancellation;

 

(b)
any such Security for whose payment at the Maturity thereof money in the necessary amount has been theretofore deposited pursuant
hereto (other than pursuant to Section 4.2) with the Trustee or any Paying Agent (other than the Company) in trust or set
aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such Securities
and any Coupons appertaining thereto, provided that, if such Securities are to be redeemed, notice of such redemption has been
duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made;

 

(c)
any such Security with respect to which the Company has effected defeasance pursuant to the terms hereof, except to the extent
provided in Section 4.2;

 

(d)
any such Security which has been paid pursuant to Section 3.6 or in exchange for or in lieu of which other Securities have
been authenticated and delivered pursuant to this Indenture, unless there shall have been presented to the Trustee proof satisfactory
to it that such Security is held by a bona fide purchaser in whose hands such Security is a valid obligation of the Company; and

 

(e)
any such Security converted or exchanged as contemplated by this Indenture into securities of the Company or another issuer, if
the terms of such Security provide for such conversion or exchange pursuant to Section 3.1; provided, however, that in determining
whether the Holders of the requisite principal amount of Outstanding Securities have given any request, demand, authorization,
direction, notice, consent or waiver hereunder or are present at a meeting of Holders of Securities for quorum purposes, (i) the
principal amount of an Original Issue Discount Security that may be counted in making such determination and that shall be deemed
to be Outstanding for such purposes shall be equal to the amount of the principal thereof that pursuant to the terms of such Original
Issue Discount Security would be declared (or shall have been declared to be) due and payable upon a declaration of acceleration
thereof pursuant to Section 5.2 at the time of such determination, and (ii) the principal amount of any Indexed Security
that may be counted in making such determination and that shall be deemed Outstanding for such purposes shall be equal to the
principal face amount of such Indexed Security at original issuance, unless otherwise provided in or pursuant to this Indenture,
and (iv) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or such
other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be
protected in making any such determination or relying upon any such request, demand, authorization, direction, notice, consent
or waiver, only Securities which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Securities
so owned which shall have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction
of the Trustee (A) the pledgee’s right so to act with respect to such Securities and (B) that the pledgee is not
the Company or any other obligor upon the Securities or any Coupons appertaining thereto or an Affiliate of the Company or such
other obligor.

 

“Paying
Agent” means any Person authorized by the Company to pay the principal of, or any premium or interest on, or any Additional
Amounts with respect to, any Security or any Coupon on behalf of the Company.

 

[“Payment
Blockage Notice” has the meaning specified in Section 16.3.]

 

    	 	5	 

     

    

 

[“Payment
Blockage Period” has the meaning specified in Section 16.3.]

 

“Person”
means any individual, Corporation, partnership, joint venture, joint-stock company, trust, unincorporated organization or government
or any agency or political subdivision thereof.

 

“Place
of Payment,” with respect to any Security, means the place or places where the principal of, or any premium or interest
on, or any Additional Amounts with respect to such Security are payable as provided in or pursuant to this Indenture or such Security.

 

“Predecessor
Security” of any particular Security means every previous Security evidencing all or a portion of the same Indebtedness
as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered
under Section 3.6 in exchange for or in lieu of a lost, destroyed, mutilated or stolen Security or any Security to which
a mutilated, destroyed, lost or stolen Coupon appertains shall be deemed to evidence the same Indebtedness as the lost, destroyed,
mutilated or stolen Security or the Security to which a mutilated, destroyed, lost or stolen Coupon appertains.

 

“Preferred
Stock” in respect of any Corporation means Capital Stock of any class or classes (however designated) which is preferred
as to the payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution
of such Corporation, over shares of Capital Stock of any other class of such Corporation.

 

“Redemption
Date,” with respect to any Security or portion thereof to be redeemed, means the date fixed for such redemption by or pursuant
to this Indenture or such Security.

 

“Redemption
Price,” with respect to any Security or portion thereof to be redeemed, means the price at which it is to be redeemed as
determined by or pursuant to this Indenture or such Security.

 

“Registered
Security” means any Security established pursuant to Section 2.1 which is registered in a Security Register.

 

“Regular
Record Date” for the interest payable on any Registered Security on any Interest Payment Date therefor means the date, if
any, specified in or pursuant to this Indenture or such Security as the “Regular Record Date”.

 

“Required
Currency” has the meaning specified in Section 1.16.

 

“Responsible
Officer” means any vice president, any assistant vice president, the secretary, any assistant secretary, the treasurer,
any assistant treasurer, or any trust officer or any other officer of the Trustee customarily performing functions similar to
those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any
other officer to whom such matter is referred because of his or her knowledge of and familiarity with the particular subject.

 

“Restricted
Subsidiary” has the meaning specified in the Indenture, as supplemented and amended as applicable.

 

“Security”
or “Securities” means any note or notes, bond or bonds, debenture or debentures, or any other evidences of Indebtedness,
as the case may be, authenticated and delivered under this Indenture; provided, however, that, if at any time there is more than
one Person acting as Trustee under this Indenture, “Securities,” with respect to any such Person, shall mean Securities
authenticated and delivered under this Indenture, exclusive, however, of Securities of any series as to which such Person is not
Trustee.

 

[“Securities
Payment” has the meaning specified in Section 16.2.]

 

“Security
Register” and “Security Registrar” have the respective meanings specified in Section 3.5.

 

[“Senior
Indebtedness” means (x) all Indebtedness for money borrowed of the Company and other Indebtedness of the Company referred
to in the definition of Indebtedness other than in clause (iii) thereof, whether incurred on or prior to the date of this
Indenture or thereafter incurred, other than the Securities and (y) amendments, renewals, extensions, modifications, refinancings
and refundings of any such Indebtedness; provided, however, the following shall not constitute Senior Indebtedness:
(A) any Indebtedness owed to a Person when such Person is a Subsidiary of the Company and (B) any Indebtedness which
by the terms of the instrument creating or evidencing the same is not superior in right of payment to the Securities.]

 

    	 	6	 

     

    

 

“Special
Record Date” for the payment of any Defaulted Interest on any Registered Security means a date fixed by the Company pursuant
to Section 3.7.

 

“Stated
Maturity,” with respect to any Security or any installment of principal thereof or interest thereon, or any Additional Amounts
with respect thereto, means the date established by or pursuant to this Indenture or such Security as the fixed date on which
the principal of such Security or such installment of principal or interest is, or such Additional Amounts are, due and payable.

 

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

 

“Trust
Indenture Act” means the Trust Indenture Act of 1939, as amended, and any reference herein to the Trust Indenture Act or
a particular provision thereof shall mean such Act or provision, as the case may be, as amended or replaced from time to time
or as supplemented from time to time by rules or regulations adopted by the Commission under or in furtherance of the purposes
of such Act or provision, as the case may be.

 

“Trustee”
means the Person named as the “Trustee” in the first paragraph of this instrument until a successor Trustee shall
have become such with respect to one or more series of Securities pursuant to the applicable provisions of this Indenture, and
thereafter “Trustee” shall mean each Person who is then a Trustee hereunder; provided, however, that if at any time
there is more than one such Person, “Trustee” shall mean each such Person and as used with respect to the Securities
of any series shall mean the Trustee with respect to the Securities of such series.

 

“United
States,” except as otherwise provided in or pursuant to this Indenture or any Security, means the United States of America
(including the states thereof and the District of Columbia), its territories and possessions and other areas subject to its jurisdiction.

 

“United
States Alien,” except as otherwise provided in or pursuant to this Indenture or any Security, means any Person who, for
United States Federal income tax purposes, is a foreign corporation, a non-resident alien individual, a non-resident alien fiduciary
of a foreign estate or trust, or a foreign partnership one or more of the members of which is, for United States Federal income
tax purposes, a foreign corporation, a non-resident alien individual or a non-resident alien fiduciary of a foreign estate or
trust.

 

“U.S.
Depository” or “Depository” means, with respect to any Security issuable or issued in the form of one or more
global Securities, the Person designated as U.S. Depository or Depository by the Company in or pursuant to this Indenture, which
Person must be, to the extent required by applicable law or regulation, a clearing agency registered under the Securities Exchange
Act of 1934, as amended, and, if so provided with respect to any Security, any successor to such Person. If at any time there
is more than one such Person, “U.S. Depository” or “Depository” shall mean, with respect to any Securities,
the qualifying entity which has been appointed with respect to such Securities.

 

“Vice
President,” when used with respect to the Company or the Trustee, means any vice president, whether or not designated by
a number or a word or words added before or after the title “Vice President”.

 

Section
1.2Compliance Certificates and Opinions.

 

Except
as otherwise expressly provided in this Indenture, upon any application or request by the Company to the Trustee to take any action
under any provision of this Indenture, the Company shall furnish to the Trustee an Officer’s Certificate stating that all
conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with and an Opinion
of Counsel stating that, in the opinion of such counsel, all such conditions precedent, if any, have been complied with, except
that in the case of any such application or request as to which the furnishing of such documents or any of them is specifically
required by any provision of this Indenture relating to such particular application or request, no additional certificate or opinion
need be furnished.

 

    	 	7	 

     

    

 

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

 

(1)
a statement that the individual signing such certificate or opinion has read such condition or covenant and the definitions herein
relating thereto;

 

(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 individual, he has made such examination or investigation as is necessary to enable him
to express an informed opinion as to whether or not such condition or covenant has been complied with; and

 

(4)
a statement as to whether, in the opinion of such individual, such condition or covenant has been complied with.

 

Section
1.3Form of Documents Delivered to Trustee.

 

In
any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary
that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered
by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such
Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents.

 

Any
certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon an Opinion of Counsel,
provided that such officer, after reasonable inquiry, has no reason to believe and does not believe that the Opinion of Counsel
with respect to the matters upon which his certificate or opinion is based is erroneous. Any such Opinion of Counsel may be based,
insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the
Company stating that the information with respect to such factual matters is in the possession of the Company, provided that such
counsel, after reasonable inquiry, has no reason to believe and does not believe that the certificate or opinion or representations
with respect to such matters are erroneous.

 

Where
any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions
or other instruments under this Indenture or any Security, they may, but need not, be consolidated and form one instrument.

 

Section
1.4Acts of Holders.

 

(1)
Any request, demand, authorization, direction, notice, consent, waiver or other action provided by or pursuant to this Indenture
to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed
by such Holders in person or by an agent duly appointed in writing. If, but only if, Securities of a series are issuable as Bearer
Securities, any request, demand, authorization, direction, notice, consent, waiver or other action provided in or pursuant to
this Indenture to be given or taken by Holders of Securities of such series may, alternatively, be embodied in and evidenced by
the record of Holders of Securities of such series voting in favor thereof, either in person or by proxies duly appointed in writing,
at any meeting of Holders of Securities of such series duly called and held in accordance with the provisions of Article 14, or
a combination of such instruments and any such record. Except as herein otherwise expressly provided, such action shall become
effective when such instrument or instruments or record or both are delivered to the Trustee and, where it is hereby expressly
required, to the Company. Such instrument or instruments and any such record (and the action embodied therein and evidenced thereby)
are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments or so voting at
any such meeting. Proof of execution of any such instrument or of a writing appointing any such agent, or of the holding by any
Person of a Security, shall be sufficient for any purpose of this Indenture and (subject to Section 315 of the Trust Indenture
Act) conclusive in favor of the Trustee and the Company and any agent of the Trustee and the Company, if made in the manner provided
in this Section. The record of any meeting of Holders of Securities shall be proved in the manner provided in Section 14.6.

 

Without
limiting the generality of this Section 1.4, unless otherwise provided in or pursuant to this Indenture, a Holder, including
a U.S. Depository that is a Holder of a global Security, may make, give or take, by a proxy or proxies, duly appointed in writing,
any request, demand, authorization, direction, notice, consent, waiver or other Act provided in or pursuant to this Indenture
to be made, given or taken by Holders, and a U.S. Depository that is a Holder of a global Security may provide its proxy or proxies
to the beneficial owners of interests in any such global Security through such U.S. Depository’s standing instructions and
customary practices.

 

    	 	8	 

     

    

 

The
Company shall fix a record date for the purpose of determining the Persons who are beneficial owners of interest in any permanent
global Security held by a U.S. Depository entitled under the procedures of such U.S. Depository to make, give or take, by a proxy
or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other Act provided
in or pursuant to this Indenture to be made, given or taken by Holders. If such a record date is fixed, the Holders on such record
date or their duly appointed proxy or proxies, and only such Persons, shall be entitled to make, give or take such request, demand,
authorization, direction, notice, consent, waiver or other Act, whether or not such Holders remain

 

Holders
after such record date. No such request, demand, authorization, direction, notice, consent, waiver or other Act shall be valid
or effective if made, given or taken more than 90 days after such record date.

 

(2)
The fact and date of the execution by any Person of any such instrument or writing referred to in this Section 1.4 may be
proved in any reasonable manner; and the Trustee may in any instance require further proof with respect to any of the matters
referred to in this Section.

 

(3)
The ownership, principal amount and serial numbers of Registered Securities held by any Person, and the date of the commencement
and the date of the termination of holding the same, shall be proved by the Security Register.

 

(4)
The ownership, principal amount and serial numbers of Bearer Securities held by any Person, and the date of the commencement and
the date of the termination of holding the same, may be proved by the production of such Bearer Securities or by a certificate
executed, as depositary, by any trust company, bank, banker or other depositary reasonably acceptable to the Company, wherever
situated, if such certificate shall be deemed by the Company and the Trustee to be satisfactory, showing that at the date therein
mentioned such Person had on deposit with such depositary, or exhibited to it, the Bearer Securities therein described; or such
facts may be proved by the certificate or affidavit of the Person holding such Bearer Securities, if such certificate or affidavit
is deemed by the Trustee to be satisfactory. The Trustee and the Company may assume that such ownership of any Bearer Security
continues until (i) another certificate or affidavit bearing a later date issued in respect of the same Bearer Security is
produced, or (ii) such Bearer Security is produced to the Trustee by some other Person, or (iii) such Bearer Security
is surrendered in exchange for a Registered Security, or (iv) such Bearer Security is no longer Outstanding. The ownership,
principal amount and serial numbers of Bearer Securities held by the Person so executing such instrument or writing and the date
of the commencement and the date of the termination of holding the same may also be proved in any other manner which the Company
and the Trustee deem sufficient.

 

(5)
If the Company shall solicit from the Holders of any Registered Securities any request, demand, authorization, direction, notice,
consent, waiver or other Act, the Company may at its option (but is not obligated to), by Board Resolution, fix in advance a record
date for the determination of Holders of Registered Securities entitled to give such request, demand, authorization, direction,
notice, consent, waiver or other Act. If such a record date is fixed, such request, demand, authorization, direction, notice,
consent, waiver or other Act may be given before or after such record date, but only the Holders of Registered Securities of record
at the close of business on such record date shall be deemed to be Holders for the purpose of determining whether Holders of the
requisite proportion of Outstanding Securities have authorized or agreed or consented to such request, demand, authorization,
direction, notice, consent, waiver or other Act, and for that purpose the Outstanding Securities shall be computed as of such
record date; provided that no such authorization, agreement or consent by the Holders of Registered Securities shall be deemed
effective unless it shall become effective pursuant to the provisions of this Indenture not later than six months after the record
date.

 

(6)
Any request, demand, authorization, direction, notice, consent, waiver or other Act by the Holder of any Security shall bind every
future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange
therefor or in lieu thereof in respect of anything done or suffered to be done by the Trustee, any Security Registrar, any Paying
Agent or the Company in reliance thereon, whether or not notation of such Act is made upon such Security.

 

Section
1.5Notices, Etc. to the Trustee and the Company.

 

Any
request, demand, authorization, direction, notice, consent, waiver or other Act of Holders or other document provided or permitted
by this Indenture to be made upon, given or furnished to, or filed with,

 

(1)
the Trustee by any Holder or the Company shall be sufficient for every purpose hereunder if made, given, furnished or filed in
writing to or with the Trustee at its Corporate Trust Office, or

 

    	 	9	 

     

    

 

(2)
the Company by the Trustee or any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided)
if in writing and mailed, first-class postage prepaid, to the Company addressed to the attention of its Chief Financial Officer,
Chief Accounting Officer or Secretary, at the address of its principal office specified in the first paragraph of this instrument
or at any other address previously furnished in writing to the Trustee by the Company.

 

Section
1.6Notice to Holders of Securities; Waiver.

 

Except
as otherwise expressly provided in or pursuant to this Indenture, where this Indenture provides for notice to Holders of Securities
of any event,

 

(1)
such notice shall be sufficiently given to Holders of Registered Securities if in writing and mailed, first-class postage prepaid,
to each Holder of a Registered Security affected by such event, at his address as it appears in the Security Register, not later
than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice; and

 

(2)
such notice shall be sufficiently given to Holders of Bearer Securities, if any, if published in an Authorized Newspaper in The
City of New York and, if such Securities are then listed on any stock exchange outside the United States, in an Authorized Newspaper
in such city as the Company shall advise the Trustee that such stock exchange so requires, on a Business Day at least twice, the
first such publication to be not earlier than the earliest date and the second such publication not later than the latest date
prescribed for the giving of such notice.

 

In
any case where notice to Holders of Registered Securities is given by mail, neither the failure to mail such notice, nor any defect
in any notice so mailed, to any particular Holder of a Registered Security shall affect the sufficiency of such notice with respect
to other Holders of Registered Securities or the sufficiency of any notice to Holders of Bearer Securities given as provided herein.
Any notice which is mailed in the manner herein provided shall be conclusively presumed to have been duly given or provided. In
the case by reason of the suspension of

 

regular
mail service or by reason of any other cause it shall be impracticable to give such notice by mail, then such notification as
shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder.

 

In
case by reason of the suspension of publication of any Authorized Newspaper or Authorized Newspapers or by reason of any other
cause it shall be impracticable to publish any notice to Holders of Bearers Securities as provided above, then such notification
to Holders of Bearer Securities as shall be given with the approval of the Trustee shall constitute sufficient notice to such
Holders for every purpose hereunder. Neither failure to give notice by publication to Holders of Bearer Securities as provided
above, nor any defect in any notice so published, shall affect the sufficiency of any notice mailed to Holders of Registered Securities
as provided above.

 

Where
this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such
notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders
of Securities shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action
taken in reliance upon such waiver.

 

Section
1.7Language of Notices.

 

Any
request, demand, authorization, direction, notice, consent, election or waiver required or permitted under this Indenture shall
be in the English language, except that, if the Company so elects, any published notice may be in an official language of the
country of publication.

 

Section
1.8Conflict with Trust Indenture Act.

 

If
any provision hereof limits, qualifies or conflicts with any duties under any required provision of the Trust Indenture Act imposed
hereon by Section 318(c) thereof, such required provision shall control.

 

    	 	10	 

     

    

 

Section
1.9Effect of Headings and Table of Contents.

 

The
Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof.

 

Section
1.10Successors and Assigns.

 

All
covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not.

 

Section
1.11Separability Clause.

 

In
case any provision in this Indenture, any Security or any Coupon shall be invalid, illegal or unenforceable, the validity, legality
and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

Section
1.12Benefits of Indenture.

 

Nothing
in this Indenture, any Security or any Coupon, express or implied, shall give to any Person, other than the parties hereto, any
Security Registrar, any Paying Agent, any Authenticating Agent and their successors hereunder[, the holders of Senior Indebtedness]
and the Holders of Securities or Coupons, any benefit or any legal or equitable right, remedy or claim under this Indenture.

 

Section
1.13Governing Law.

 

This
Indenture, the Securities and any Coupons shall be governed by and construed in accordance with the laws of the State of Israel
applicable to agreements made or instruments entered into and, in each case, performed in said state. This Indenture is subject
to the provisions of the TIA that are required to be part of this Indenture, and the rules and regulations of the Securities and
Exchange Commission promulgated thereunder that are required to be part of this Indenture and shall, to the extent applicable,
be governed by such provisions.

 

Section
1.14Legal Holidays.

 

Unless
otherwise specified in or pursuant to this Indenture or any Securities, in any case where any Interest Payment Date, Stated Maturity
or Maturity of any Security, or the last date on which a Holder has the right to convert or exchange Securities of a series that
are convertible or exchangeable, shall be a Legal Holiday at any Place of Payment, then (notwithstanding any other provision of
this Indenture, any Security or any Coupon other than a provision in any Security or Coupon that specifically states that such
provision shall apply in lieu hereof) payment need not be made at such Place of Payment on such date, and such Securities need
not be converted or exchanged on such date but such payment may be made, and such Securities may be converted or exchanged, on
the next succeeding day that is a Business Day at such Place of Payment with the same force and effect as if made on the Interest
Payment Date or at the Stated Maturity or Maturity or on such last day for conversion or exchange, and no interest shall accrue
on the amount payable on such date or at such time for the period from and after such Interest Payment Date, Stated Maturity,
Maturity or last day for conversion or exchange, as the case may be, to such next succeeding Business Day.

 

Section
1.15Counterparts.

 

This
Indenture may be executed in several counterparts, each of which shall be an original and all of which shall constitute but one
and the same instrument.

 

    	 	11	 

     

    

 

Section
1.16Judgment 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 premium or interest,
if any, or Additional Amounts 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 requisite amount of the Required Currency
with the Judgment Currency on the New York Banking Day preceding the day on which a final unappealable judgment is given and (b) its
obligations under this Indenture to make payments in the Required Currency (i) shall not be discharged or satisfied by any
tender, or any recovery pursuant to any judgment (whether or not entered in accordance with clause (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 or a day on which banking
institutions in The City of New York are authorized or obligated by law, regulation or executive order to be closed.

 

Section
1.17No Security Interest Created.

 

Nothing
in this Indenture or in any Security, express or implied, shall be construed to constitute a security interest under the Uniform
Commercial Code or similar legislation, as now or hereafter enacted and in effect in any jurisdiction where property of the Company
or its Subsidiaries is or may be located.

 

Section
1.18Limitation on Individual Liability.

 

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

 

Article
2.

SECURITIES FORMS

 

Section
2.1Forms Generally.

 

Each
Registered Security, Bearer Security, Coupon and temporary or permanent global Security issued pursuant to this Indenture shall
be in substantially the form attached as Exhibit A and as set forth pursuant to this Article, or in such other form established
by or pursuant to a Board Resolution or in one or more indentures supplemental hereto, shall have such appropriate insertions,
omissions, substitutions and other variations as are required or permitted by or pursuant to this Indenture or any indenture supplemental
hereto and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as
may, consistently herewith, be determined by the officers executing such Security or Coupon as evidenced by their execution of
such Security or Coupon.

 

Unless
otherwise provided in or pursuant to this Indenture or any Securities, the Securities shall be issuable in registered form without
Coupons and shall not be issuable upon the exercise of warrants.

 

Definitive
Securities and definitive Coupons shall be printed, lithographed or engraved or produced by any combination of these methods on
a steel engraved border or steel engraved borders or may be produced in any other manner, all as determined by the officers of
the Company executing such Securities or Coupons, as evidenced by their execution of such Securities or Coupons.

 

Section
2.2Form of Trustee’s Certificate of Authentication.

 

Subject
to Section 6.12, the Trustee’s certificate of authentication shall be in substantially the following form:

 

    	 	12	 

     

    

 

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

 

	Dated:		 
	 	 	
	 	 	As
    Trustee
	 	 	 
	 	By:	  
	 	 	Authorized
    Officer

 

Section
2.3Securities in Global Form.

 

Unless
otherwise provided in or pursuant to this Indenture or any Securities, the Securities shall not be issuable in temporary or permanent
global form. If Securities of a series shall be issuable in global form, any such Security may provide that it or any number of
such Securities shall represent the aggregate amount of all Outstanding Securities of such series (or such lesser amount as is
permitted by the terms thereof) from time to time endorsed thereon and may also provide that the aggregate amount of Outstanding
Securities represented thereby may from time to time be increased or reduced to reflect exchanges. Any endorsement of any Security
in global form to reflect the amount, or any increase or decrease in the amount, or changes in the rights of Holders, of Outstanding
Securities represented thereby shall be made in such manner and by such Person or Persons as shall be specified therein or in
the Company Order to be delivered pursuant to Section 3.3 or 3.4 with respect thereto. Subject to the provisions of Section 3.3
and, if applicable, Section 3.4, the Trustee shall deliver and redeliver, in each case at the Company’s expense, any
Security in permanent global form in the manner and upon instructions given by the Person or Persons specified therein or in the
applicable Company Order. If a Company Order pursuant to Section 3.3 or 3.4 has been, or simultaneously is, delivered, any
instructions by the Company with respect to a Security in global form shall be in writing but need not be accompanied by or contained
in an Officer’s Certificate and need not be accompanied by an Opinion of Counsel.

 

Notwithstanding
the provisions of Section 3.7, unless otherwise specified in or pursuant to this Indenture or any Security, payment of principal
of, any premium and interest on, and any Additional Amounts in respect of, any Security in temporary or permanent global form
shall be made to the Person or Persons specified therein.

 

Notwithstanding
the provisions of Section 3.8 and except as provided in the preceding paragraph, the Company, the Trustee and any agent of
the Company or the Trustee shall treat as the Holder of such principal amount of Outstanding Securities represented by a global
Security (i) in the case of a global Security in registered form, the Holder of such global Security in registered form,
or (ii) in the case of a global Security in bearer form, the Person or Persons specified pursuant to Section 3.1.

 

Article
3.

THE SECURITIES

 

Section
3.1Amount Unlimited; Issuable in Series.

 

The
aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is unlimited. The Securities
may be issued in one or more series.

 

With
respect to any Securities to be authenticated and delivered hereunder, there shall be established in or pursuant to a Board Resolution
and set forth in an Officer’s Certificate, or established in one or more indentures supplemental hereto,

 

(1)
the title of such Securities and the series in which such Securities shall be included;

 

(2)
any limit upon the aggregate principal amount of the Securities of such title or the Securities of such 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 such series pursuant to Section 3.4, 3.5, 3.6, 9.5 or 11.7, upon repayment
in part of any Registered Security of such series pursuant to Article 13, upon surrender in part of any Registered Security for
conversion into other securities of the Company or exchange for securities of another issuer pursuant to its terms, or pursuant
to or as contemplated by the terms of such Securities);

 

    	 	13	 

     

    

 

(3)
if such Securities are to be issuable as Registered Securities, as Bearer Securities or alternatively as Bearer Securities and
Registered Securities, and whether the Bearer Securities are to be issuable with Coupons, without Coupons or both, and any restrictions
applicable to the offer, sale or delivery of the Bearer Securities and the terms, if any, upon which Bearer Securities may be
exchanged for Registered Securities and vice versa;

 

(4)
if any of such Securities are to be issuable in global form, when any of such Securities are to be issuable in global form and
(i) whether such Securities are to be issued in temporary or permanent global form or both, (ii) whether beneficial
owners of interests in any such global Security may exchange such interests for Securities of the same series and of like tenor
and of any authorized form and denomination, and the circumstances under which any such exchanges may occur, if other than in
the manner specified in Section 3.5, and (iii) the name of the Depository or the U.S. Depository, as the case may be,
with respect to any such global Security;

 

(5)
if any of such Securities are to be issuable as Bearer Securities or in global form, the date as of which any such Bearer Security
or global Security shall be dated (if other than the date of original issuance of the first of such Securities to be issued);

 

(6)
if any of such Securities are to be issuable as Bearer Securities, whether interest in respect of any portion of a temporary Bearer
Security in global form payable in respect of an Interest Payment Date therefor prior to the exchange, if any, of such temporary
Bearer Security for definitive Securities shall be paid to any clearing organization with respect to the portion of such temporary
Bearer Security held for its account and, in such event, the terms and conditions (including any certification requirements) upon
which any such interest payment received by a clearing organization will be credited to the Persons entitled to interest payable
on such Interest Payment Date;

 

(7)
the date or dates, or the method or methods, if any, by which such date or dates shall be determined, on which the principal of
such Securities is payable;

 

(8)
the rate or rates at which such Securities shall bear interest, if any, or the method or methods, if any, by which such rate or
rates are to be determined, the date or dates, if any, from which such interest shall accrue or the method or methods, if any,
by which such date or dates are to be determined, the Interest Payment Dates, if any, on which such interest shall be payable
and the Regular Record Date, if any, for the interest payable on Registered Securities on any Interest Payment Date, whether and
under what circumstances Additional Amounts on such Securities or any of them shall be payable, the notice, if any, to Holders
regarding the determination of interest on a floating rate Security and the manner of giving such notice, and the basis upon which
interest shall be calculated if other than that of a 360-day year of twelve 30-day months;

 

(9)
if in addition to or other than the Borough of Manhattan, The City of New York, the place or places where the principal of, any
premium and interest on or any Additional Amounts with respect to such Securities shall be payable, any of such Securities that
are Registered Securities may be surrendered for registration of transfer or exchange, any of such Securities may be surrendered
for conversion or exchange and notices or demands to or upon the Company in respect of such Securities and this Indenture may
be served, the extent to which, or the manner in which, any interest payment or Additional Amounts on a global Security on an
Interest Payment Date, will be paid and the manner in which any principal of or premium, if any, on any global Security will be
paid;

 

(10)
whether any of such Securities are to be redeemable at the option of the Company and, if so, the date or dates on which, the period
or periods within which, the price or prices at which and the other terms and conditions upon which such Securities may be redeemed,
in whole or in part, at the option of the Company;

 

(11)
whether the Company is obligated to redeem or purchase any of such Securities pursuant to any sinking fund or analogous provision
or at the option of any Holder thereof and, if so, the date or dates on which, the period or periods within which, the price or
prices at which and the other terms and conditions upon which such Securities shall be redeemed or purchased, in whole or in part,
pursuant to such obligation, and any provisions for the remarketing of such Securities so redeemed or purchased;

 

    	 	14	 

     

    

 

(12)
the denominations in which any of such Securities that are Registered Securities shall be issuable if other than denominations
of $1,000 and any integral multiple thereof, and the denominations in which any of such Securities that are Bearer Securities
shall be issuable if other than the denomination of $5,000;

 

(13)
whether the Securities of the series will be convertible into or exchangeable for Common Stock of the Company or Preferred Stock
of the Company, at the option of the Company or the Holder or upon the occurrence of any condition or event, and if so, the terms
and conditions upon which such Securities will be so convertible or exchangeable, and any deletions from or modifications or additions
to this Indenture to permit or to facilitate the issuance of such convertible or exchangeable Securities or the administration
thereof;

 

(14)
if other than the principal amount thereof, the portion of the principal amount of any of such Securities that shall be payable
upon declaration of acceleration of the Maturity thereof pursuant to Section 5.2 or the method by which such portion is to
be determined;

 

(15)
whether the amount of payments of principal of, any premium or interest on or any Additional Amounts with respect to such Securities
may be determined with reference to an index, formula or other method or methods (which index, formula or method or methods may
be based, without limitation, on one or more currencies, commodities, equity securities, equity indices or other indices), and,
if so, the terms and conditions upon which and the manner in which such amounts shall be determined and paid or payable;

 

(16)
any deletions from, modifications of or additions to the Events of Default or covenants of the Company with respect to any of
such Securities, whether or not such Events of Default or covenants are consistent with the Events of Default or covenants set
forth herein;

 

(17)
whether either or both of Section 4.2(2) relating to defeasance or Section 4.2(3) relating to covenant defeasance shall
not be applicable to the Securities of such series, or any covenants in addition to those specified in Section 4.2(3) relating
to the Securities of such series which shall be subject to covenant defeasance, and any deletions from, or modifications or additions
to, the provisions of Article 4 in respect of the Securities of such series;

 

(18)
whether any of such Securities are to be issuable upon the exercise of warrants, and the time, manner and place for such Securities
to be authenticated and delivered;

 

(19)
if any of such Securities are to be issuable in global form and are to be issuable in definitive form (whether upon original issue
or upon exchange of a temporary Security) only upon receipt of certain certificates or other documents or satisfaction of other
conditions, then the form and terms of such certificates, documents or conditions;

 

(20)
if there is more than one Trustee, the identity of the Trustee and, if not the Trustee, the identity of each Security Registrar,
Paying Agent or Authenticating Agent with respect to such Securities;

 

(21)
[any deletions from or modifications or additions to the provisions of Article 16 in respect of such Securities;] and

 

(22)
any other terms of such Securities and any other deletions from or modifications or additions to this Indenture in respect of
such Securities.

 

All
Securities of any one series and all Coupons, if any, appertaining to Bearer Securities of such series shall be substantially
identical except as to denomination and the rate of interest thereon, or method of determining the rate of interest, if any, Maturity,
and the date from which interest, if any, shall accrue and except as may otherwise be provided by the Company in or pursuant to
the Board Resolution and set forth in the Officer’s Certificate or in any indenture or indentures supplemental hereto pertaining
to such series of Securities. The terms of the Securities of any series may provide, without limitation, that the Securities shall
be authenticated and delivered by the Trustee on original issue from time to time upon written order of persons designated in
the Officer’s Certificate or supplemental indenture and that such persons are authorized to determine, consistent with such
Officer’s Certificate or any applicable supplemental indenture, such terms and conditions of the Securities of such series
as are specified in such Officer’s Certificate or supplemental indenture. All Securities of any one series need not be issued
at the same time and, unless otherwise so provided, a series may be reopened for issuances of additional Securities of such series
or to establish additional terms of such series of Securities.

 

    	 	15	 

     

    

 

If
any of the terms of the Securities of any series shall be established by action taken by or pursuant to a Board Resolution, the
Board Resolution shall be delivered to the Trustee at or prior to the delivery of the Officer’s Certificate setting forth
the terms of such series.

 

[The
Securities shall be subordinated in right of payment to Senior Indebtedness as provided in Article 16.]

 

Section
3.2Currency; Denominations.

 

Unless
otherwise provided in or pursuant to this Indenture, the principal of, any premium and interest on and any Additional Amounts
with respect to the Securities shall be payable in Dollars. Unless otherwise provided in or pursuant to this Indenture, Registered
Securities denominated in Dollars shall be issuable in registered form without Coupons in denominations of $1,000 and any integral
multiple thereof, and the Bearer Securities denominated in Dollars shall be issuable in the denomination of $5,000. Securities
not denominated in Dollars shall be issuable in such denominations as are established with respect to such Securities in or pursuant
to this Indenture.

 

Section
3.3Execution, Authentication, Delivery and Dating.

 

Securities
shall be executed on behalf of the Company by its Chairman of the Board, its Chief Executive Officer, the President or any Vice
President or the Treasurer or any Assistant Treasurer under its corporate seal reproduced thereon and attested by its Secretary
or one of its Assistant Secretaries. Coupons shall be executed on behalf of the Company by its Chairman of the Board, its Chief
Executive Officer, the President or any Vice President, the Treasurer or any Assistant Treasurer, or the Secretary or any Assistant
Secretary of the Company. The signature of any of these officers on the Securities or any Coupons appertaining thereto may be
manual or facsimile.

 

Securities
and any Coupons appertaining thereto bearing the manual or facsimile signatures of individuals who were at any time the proper
officers of the Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such
offices prior to the authentication and delivery of such Securities and Coupons or did not hold such offices at the date of original
issuance of such Securities or Coupons.

 

At
any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities, together
with any Coupons appertaining thereto, executed by the Company, to the Trustee for authentication and, provided that the Board
Resolution and Officer’s Certificate or supplemental indenture or indentures with respect to such Securities referred to
in Section 3.1 and a Company Order for the authentication and delivery of such Securities have been delivered to the Trustee,
the Trustee in accordance with the Company Order and subject to the provisions hereof and of such Securities shall authenticate
and deliver such Securities. In authenticating such Securities, and accepting the additional responsibilities under this Indenture
in relation to such Securities and any Coupons appertaining thereto, the Trustee shall be entitled to receive, and (subject to
Sections 315(a) through 315(d) of the Trust Indenture Act) shall be fully protected in relying upon,

 

(1)
an Opinion of Counsel to the effect that:

 

(a)
the form or forms and terms of such Securities and Coupons, if any, have been established in conformity with the provisions of
this Indenture;

 

(b)
all conditions precedent to the authentication and delivery of such Securities and Coupons, if any, appertaining thereto, have
been complied with and that such Securities and Coupons, when completed by appropriate insertions, executed under the Company’s
corporate seal and attested by duly authorized officers of the Company, delivered by duly authorized officers of the Company to
the Trustee for authentication pursuant to this Indenture, and authenticated and delivered by the Trustee and issued by the Company
in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute legally valid and binding obligations
of the Company, enforceable against the Company in accordance with their terms, except as enforcement thereof may be subject to
or limited by bankruptcy, insolvency, reorganization, moratorium, arrangement, fraudulent conveyance, fraudulent transfer or other
similar laws relating to or affecting creditors’ rights generally, and subject to general principles of equity (regardless
of whether enforcement is sought in a proceeding in equity or at law) and will entitle the Holders thereof to the benefits of
this Indenture; such Opinion of Counsel need express no opinion as to the availability of equitable remedies;

 

    	 	16	 

     

    

 

(c)
all laws and requirements in respect of the execution and delivery by the Company of such Securities and Coupons, if any, have
been complied with; and

 

(d)
this Indenture has been qualified under the Trust Indenture Act; and

 

(2)
an Officer’s Certificate stating that, to the best knowledge of the Persons executing such certificate, all conditions precedent
to the execution, authentication and delivery of such Securities and Coupons, if any, appertaining thereto, have been complied
with, and no event which is, or after notice or lapse of time would become, an Event of Default with respect to any of the Securities
shall have occurred and be continuing.

 

If
all the Securities of any series are not to be issued at one time, it shall not be necessary to deliver an Opinion of Counsel
and an Officer’s Certificate at the time of issuance of each Security, but such opinion and certificate, with appropriate
modifications, shall be delivered at or before the time of issuance of the first Security of such series. After any such first
delivery, any separate written request by an Authorized Officer of the Company or any person designated in writing by an Authorized
Officer that the Trustee authenticate and deliver Securities of such series for original issue will be deemed to be a certification
by the Company that all conditions precedent provided for in this Indenture relating to authentication and delivery of such Securities
continue to have been complied with and that no Event of Default with respect to any of the Securities has occurred or is continuing.

 

The
Trustee shall not be required to authenticate or to cause an Authenticating Agent to authenticate any Securities if the issue
of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities
and this Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee or if the Trustee, being advised
by counsel, determines that such action may not lawfully be taken.

 

Each
Registered Security shall be dated the date of its authentication. Each Bearer Security and any Bearer Security in global form
shall be dated as of the date specified in or pursuant to this Indenture.

 

No
Security or Coupon appertaining thereto shall be entitled to any benefit under this Indenture or be valid or obligatory for any
purpose, unless there appears on such Security a certificate of authentication substantially in the form provided for in Section 2.2
or 6.12 executed by or on behalf of the Trustee or by the Authenticating Agent by the manual signature of one of its authorized
officers. Such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has been
duly authenticated and delivered hereunder. Except as permitted by Section 3.6 or 3.7, the Trustee shall not authenticate
and deliver any Bearer Security unless all Coupons appertaining thereto then matured have been detached and cancelled.

 

Section
3.4Temporary Securities.

 

Pending
the preparation of definitive Securities, the Company may execute and deliver to the Trustee and, upon Company Order, the Trustee
shall authenticate and deliver, in the manner provided in Section 3.3, temporary Securities in lieu thereof which are printed,
lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the
definitive Securities in lieu of which they are issued, in registered form or, if authorized in or pursuant to this Indenture,
in bearer form with one or more Coupons or without Coupons and with such appropriate insertions, omissions, substitutions and
other variations as the officers of the Company executing such Securities may determine, as conclusively evidenced by their execution
of such Securities. Such temporary Securities may be in global form.

 

Except
in the case of temporary Securities in global form, which shall be exchanged in accordance with the provisions thereof, if temporary
Securities are issued, the Company shall cause definitive Securities to be prepared without unreasonable delay. After the preparation
of definitive Securities of the same series and containing terms and provisions that are identical to those of any temporary Securities,
such temporary Securities shall be exchangeable for such definitive Securities upon surrender of such temporary Securities at
an Office or Agency for such Securities, without charge to any Holder thereof. Upon surrender for cancellation of any one or more
temporary Securities (accompanied by any unmatured Coupons appertaining thereto), the Company shall execute and the Trustee shall
authenticate and deliver in exchange therefor a like principal amount of definitive Securities of authorized denominations of
the same series and containing identical terms and provisions; provided, however, that no definitive Bearer Security, except as
provided in or pursuant to this Indenture, shall be delivered in exchange for a temporary Registered Security; and provided, further,
that a definitive Bearer Security shall be delivered in exchange for a temporary Bearer Security only in compliance with the conditions
set forth in or pursuant to this Indenture. Unless otherwise provided in or pursuant to this Indenture with respect to a temporary
global Security, until so exchanged the temporary Securities of any series shall in all respects be entitled to the same benefits
under this Indenture as definitive Securities of such series.

 

    	 	17	 

     

    

 

Section
3.5Registration, Transfer and Exchange.

 

With
respect to the Registered Securities of each series, if any, the Company shall cause to be kept a register (each such register
being herein sometimes referred to as the “Security Register”) at an Office or Agency for such series in which, subject
to such reasonable regulations as it may prescribe, the Company shall provide for the registration of the Registered Securities
of such series and of transfers of the Registered Securities of such series. Such Office or Agency shall be the “Security
Registrar” for that series of Securities. Unless otherwise specified in or pursuant to this Indenture or the Securities,
the Trustee shall be the initial Security Registrar for each series of Securities. The Company shall have the right to remove
and replace from time to time the Security Registrar for any series of Securities; provided that no such removal or replacement
shall be effective until a successor Security Registrar with respect to such series of Securities shall have been appointed by
the Company and shall have accepted such appointment by the Company. In the event that the Trustee shall not be or shall cease
to be Security Registrar with respect to a series of Securities, it shall have the right to examine the Security Register for
such series at all reasonable times. There shall be only one Security Register for each series of Securities.

 

Upon
surrender for registration of transfer of any Registered Security of any series at any Office or Agency for such series, the Company
shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or
more new Registered Securities of the same series denominated as authorized in or pursuant to this Indenture, of a like aggregate
principal amount bearing a number not contemporaneously outstanding and containing identical terms and provisions.

 

At
the option of the Holder, Registered Securities of any series may be exchanged for other Registered Securities of the same series
containing identical terms and provisions, in any authorized denominations, and of a like aggregate principal amount, upon surrender
of the Securities to be exchanged at any Office or Agency for such series. Whenever any Registered Securities are so surrendered
for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Registered Securities which the Holder
making the exchange is entitled to receive.

 

If
provided in or pursuant to this Indenture, with respect to Securities of any series, at the option of the Holder, Bearer Securities
of such series may be exchanged for Registered Securities of such series containing identical terms, denominated as authorized
in or pursuant to this Indenture and in the same aggregate principal amount, upon surrender of the Bearer Securities to be exchanged
at any Office or Agency for such series, with all unmatured Coupons and all matured Coupons in default thereto appertaining. If
the Holder of a Bearer Security is unable to produce any such unmatured Coupon or Coupons or matured Coupon or Coupons in default,
such exchange may be effected if the Bearer Securities are accompanied by payment in funds acceptable to the Company and the Trustee
in an amount equal to the face amount of such missing Coupon or Coupons, or the surrender of such missing Coupon or Coupons may
be waived by the Company and the Trustee if there is furnished to them such security or indemnity as they may require to save
each of them and any Paying Agent harmless. If thereafter the Holder of such Bearer Security shall surrender to any Paying Agent
any such missing Coupon in respect of which such a payment shall have been made, such Holder shall be entitled to receive the
amount of such payment; provided, however, that, except as otherwise provided in Section 10.2, interest represented by Coupons
shall be payable only upon presentation and surrender of those Coupons at an Office or Agency for such series located outside
the United States. Notwithstanding the foregoing, in case a Bearer Security of any series is surrendered at any such Office or
Agency for such series in exchange for a Registered Security of such series and like tenor after the close of business at such
Office or Agency on (i) any Regular Record Date and before the opening of business at such Office or Agency on the next succeeding
Interest Payment Date, or (ii) any Special Record Date and before the opening of business at such Office or Agency on the
related date for payment of Defaulted Interest, such Bearer Security shall be surrendered without the Coupon relating to such
Interest Payment Date or proposed date of payment, as the case may be (or, if such Coupon is so surrendered with such Bearer Security,
such Coupon shall be returned to the Person so surrendering the Bearer Security), and interest or Defaulted Interest, as the case
may be, shall not be payable on such Interest Payment Date or proposed date for payment, as the case may be, in respect of the
Registered Security issued in exchange for such Bearer Security, but shall be payable only to the Holder of such Coupon when due
in accordance with the provisions of this Indenture.

 

If
provided in or pursuant to this Indenture with respect to Securities of any series, at the option of the Holder, Registered Securities
of such series may be exchanged for Bearer Securities upon such terms and conditions as may be provided in or pursuant to this
Indenture with respect to such series.

 

    	 	18	 

     

    

 

Whenever
any Securities are surrendered for exchange as contemplated by the immediately preceding two paragraphs, the Company shall execute,
and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive.

 

Notwithstanding
the foregoing, except as otherwise provided in or pursuant to this Indenture, any global Security shall be exchangeable for definitive
Securities only if (i) the Depository is at any time unwilling, unable or ineligible to continue as depository and a successor
depository is not appointed by the Company within 90 days of the date the Company is so informed in writing, (ii) the Company
executes and delivers to the Trustee a Company Order to the effect that such global Security shall be so exchangeable, or (iii) an
Event of Default has occurred and is continuing with respect to the Securities. If the beneficial owners of interests in a global
Security are entitled to exchange such interests for definitive Securities as the result of an event described in clause (i),
(ii) or (iii) of the preceding sentence, then without unnecessary delay but in any event not later than the earliest
date on which such interests may be so exchanged, the Company shall deliver to the Trustee definitive Securities in such form
and denominations as are required by or pursuant to this Indenture, and of the same series, containing identical terms and in
aggregate principal amount equal to the principal amount of such global Security, executed by the Company. On or after the earliest
date on which such interests may be so exchanged, such global Security shall be surrendered from time to time by the U.S. Depository
or such other Depository as shall be specified in the Company Order with respect thereto, and in accordance with instructions
given to the Trustee and the U.S. Depository or such other Depository, as the case may be (which instructions shall be in writing
but need not be contained in or accompanied by an Officer’s Certificate or be accompanied by an Opinion of Counsel), as
shall be specified in the Company Order with respect thereto to the Trustee, as the Company’s agent for such purpose, to
be exchanged, in whole or in part, for definitive Securities as described above without charge. The Trustee shall authenticate
and make available for delivery, in exchange for each portion of such surrendered global Security, a like aggregate principal
amount of definitive Securities of the same series of authorized denominations and of like tenor as the portion of such global
Security to be exchanged, which (unless such Securities are not issuable both as Bearer Securities and as Registered Securities,
in which case the definitive Securities exchanged for the global Security shall be issuable only in the form in which the Securities
are issuable, as provided in or pursuant to this Indenture) shall be in the form of Bearer Securities or Registered Securities,
or any combination thereof, as shall be specified by the beneficial owner thereof, but subject to the satisfaction of any certification
or other requirements to the issuance of Bearer Securities; provided, however, that no such exchanges may occur during a period
beginning at the opening of business 15 days before any selection of Securities of the same series to be redeemed and ending on
the relevant Redemption Date; and provided, further, that (unless otherwise provided in or pursuant to this Indenture) no Bearer
Security delivered in exchange for a portion of a global Security shall be mailed or otherwise delivered to any location in the
United States. Promptly following any such exchange in part, such global Security shall be returned by the Trustee to such Depository
or the U.S. Depository, as the case may be, or such other Depository or U.S. Depository referred to above in accordance with the
instructions of the Company referred to above. If a Registered Security is issued in exchange for any portion of a global Security
after the close of business at the Office or Agency for such Security where such exchange occurs on or after (i) any Regular
Record Date for such Security and before the opening of business at such Office or Agency on the next succeeding Interest Payment
Date, or (ii) any Special Record Date for such Security and before the opening of business at such Office or Agency on the
related proposed date for payment of interest or Defaulted Interest, as the case may be, interest shall not be payable on such
Interest Payment Date or proposed date for payment, as the case may be, in respect of such Registered Security, but shall be payable
on such Interest Payment Date or proposed date for payment, as the case may be, only to the Person to whom interest in respect
of such portion of such global Security shall be payable in accordance with the provisions of this Indenture.

 

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 entitling the Holders thereof to the same benefits under this Indenture as the Securities surrendered upon such
registration of transfer or exchange.

 

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

 

No
service charge shall be made for any registration of transfer or exchange, or redemption of Securities, but the Company may require
payment of a sum sufficient to cover any tax or other governmental charge and any other expenses (including fees and expenses
of the Trustee) that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges
pursuant to Section 3.4, 9.5 or 11.7 not involving any transfer.

 

    	 	19	 

     

    

 

Except
as otherwise provided in or pursuant to this Indenture, the Company shall not be required (i) to issue, register the transfer
of or exchange any Securities during a period beginning at the opening of business 15 days before the day of mailing of a notice
of redemption of Securities of like tenor and the same series under Section 11.3 and ending at the close of business on the
day of such mailing, or (ii) to register the transfer of or exchange any Registered Security selected for redemption in whole
or in part, except in the case of any Security to be redeemed in part, the portion thereof not to be redeemed, or (iii) to
exchange any Bearer Security selected for redemption except, to the extent provided with respect to such Bearer Security, that
such Bearer Security may be exchanged for a Registered Security of like tenor and the same series, provided that such Registered
Security shall be immediately surrendered for redemption with written instruction for payment consistent with the provisions of
this Indenture or (iv) to issue, register the transfer of or exchange any Security which, in accordance with its terms, has
been surrendered for repayment at the option of the Holder, except the portion, if any, of such Security not to be so repaid.

 

Section
3.6Mutilated, Destroyed, Lost and Stolen Securities.

 

If
any mutilated Security or a Security with a mutilated Coupon appertaining to it is surrendered to the Trustee, subject to the
provisions of this Section 3.6, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor
a new Security of the same series containing identical terms and of like principal amount and bearing a number not contemporaneously
outstanding, with Coupons appertaining thereto corresponding to the Coupons, if any, appertaining to the surrendered Security.

 

If
there be delivered to the Company and the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of
any Security or Coupon, and (ii) such security or indemnity as may be required by them to save each of them and any agent
of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security or Coupon has been
acquired by a bona fide purchaser, the Company shall execute and, upon the Company’s request the Trustee shall authenticate
and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Security or in exchange for the Security
to which a destroyed, lost or stolen Coupon appertains with all appurtenant Coupons not destroyed, lost or stolen, a new Security
of the same series containing identical terms and of like principal amount and bearing a number not contemporaneously outstanding,
with Coupons appertaining thereto corresponding to the Coupons, if any, appertaining to such destroyed, lost or stolen Security
or to the Security to which such destroyed, lost or stolen Coupon appertains.

 

Notwithstanding
the foregoing provisions of this Section 3.6, in case any mutilated, destroyed, lost or stolen Security or Coupon has become
or is about to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security
or Coupon; provided, however, that payment of principal of, any premium or interest on or any Additional Amounts with respect
to any Bearer Securities shall, except as otherwise provided in Section 10.2, be payable only at an Office or Agency for
such Securities located outside the United States and, unless otherwise provided in or pursuant to this Indenture, any interest
on Bearer Securities and any Additional Amounts with respect to such interest shall be payable only upon presentation and surrender
of the Coupons appertaining thereto.

 

Upon
the issuance of any new Security under this Section 3.6, the Company may require the payment of a sum sufficient to cover
any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses
of the Trustee) connected therewith.

 

Every
new Security, with any Coupons appertaining thereto issued pursuant to this Section 3.6 in lieu of any destroyed, lost or
stolen Security, or in exchange for a Security to which a destroyed, lost or stolen Coupon appertains shall constitute a separate
obligation of the Company, whether or not the destroyed, lost or stolen Security and Coupons appertaining thereto or the destroyed,
lost or stolen Coupon shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture
equally and proportionately with any and all other Securities of such series and any Coupons, if any, duly issued hereunder.

 

The
provisions of this Section 3.6, as amended or supplemented pursuant to this Indenture with respect to particular Securities
or generally, shall be exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement
or payment of mutilated, destroyed, lost or stolen Securities or Coupons.

 

Section
3.7Payment of Interest and Certain Additional Amounts; Rights to Interest and Certain Additional Amounts Preserved.

 

Unless
otherwise provided in or pursuant to this Indenture, any interest on and any Additional Amounts with respect to any Registered
Security which shall be payable, and are punctually paid or duly provided for, on any Interest Payment Date shall be paid to the
Person in whose name such Security (or one or more Predecessor Securities) is registered as of the close of business on the Regular
Record Date for such interest.

 

    	 	20	 

     

    

 

Unless
otherwise provided in or pursuant to this Indenture, any interest on and any Additional Amounts with respect to any Registered
Security which shall be payable, but shall not be punctually paid or duly provided for, on any Interest Payment Date for such
Registered Security (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder thereof
on the relevant Regular Record Date by virtue of having been such Holder; and such Defaulted Interest may be paid by the Company,
at its election, as provided in clause (1) or (2) below:

 

(1)
The Company may elect to make payment of any Defaulted Interest to the Person in whose name such Registered Security (or a Predecessor
Security thereof) shall be registered at the close of business on a Special Record Date for the payment of such Defaulted Interest,
which shall be fixed by the Company in the following manner. The Company shall notify the Trustee in writing of the amount of
Defaulted Interest proposed to be paid on such Registered Security, the Special Record Date therefor and the date of the proposed
payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed
to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or
prior to the date of the proposed payment, such money when so deposited to be held in trust for the benefit of the Person entitled
to such Defaulted Interest as provided in this clause (1). The Special Record Date for the payment of such Defaulted Interest
shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after
notification to the Trustee of the proposed payment. The Trustee shall, in the name and at the expense of the Company, cause notice
of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid,
to the Holder of such Registered Security (or a Predecessor Security thereof) at his address as it appears in the Security Register
not less than 10 days prior to such Special Record Date. The Trustee may, in its discretion, in the name and at the expense of
the Company, cause a similar notice to be published at least once in an Authorized Newspaper of general circulation in the Borough
of Manhattan, The City of New York, but such publication shall not be a condition precedent to the establishment of such Special
Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed
as aforesaid, such Defaulted Interest shall be paid to the Person in whose name such Registered Security (or a Predecessor Security
thereof) shall be registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the
following clause (2).

 

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

 

Unless
otherwise provided in or pursuant to this Indenture or the Securities of any particular series pursuant to the provisions of this
Indenture, at the option of the Company, interest on Registered Securities that bear interest may be paid by mailing a check to
the address of the Person entitled thereto as such address shall appear in the Security Register or by transfer to an account
maintained by the payee with a bank located in the United States.

 

Subject
to the foregoing provisions of this Section and Section 3.5, each Security delivered under this Indenture upon registration
of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and
to accrue, which were carried by such other Security.

 

In
the case of any Registered Security of any series that is convertible into other securities of the Company or exchangeable for
securities of another issuer, which Registered Security is converted or exchanged after any Regular Record Date and on or prior
to the next succeeding Interest Payment Date (other than any Registered Security with respect to which the Stated Maturity is
prior to such Interest Payment Date), interest with respect to which the Stated Maturity is on such Interest Payment Date shall
be payable on such Interest Payment Date notwithstanding such conversion or exchange, and such interest (whether or not punctually
paid or duly provided for) shall be paid to the Person in whose name that Registered Security (or one or more predecessor Registered
Securities) is registered at the close of business on such Regular Record Date. Except as otherwise expressly provided in the
immediately preceding sentence, in the case of any Registered Security which is converted or exchanged, interest with respect
to which the Stated Maturity is after the date of conversion or exchange of such Registered Security shall not be payable.

 

Section
3.8Persons Deemed Owners.

 

Prior
to due presentment of a Registered Security for registration of transfer, the Company, the Trustee and any agent of the Company
or the Trustee may treat the Person in whose name such Registered Security is registered in the Security Register as the owner
of such Registered Security for the purpose of receiving payment of principal of, any premium and (subject to Sections 3.5 and
3.7) interest on and any Additional Amounts with respect to such Registered Security and for all other purposes whatsoever, whether
or not any payment with respect to such Registered Security shall be overdue, and none of the Company, the Trustee or any agent
of the Company or the Trustee shall be affected by notice to the contrary.

 

    	 	21	 

     

    

 

The
Company, the Trustee and any agent of the Company or the Trustee may treat the bearer of any Bearer Security or the bearer of
any Coupon as the absolute owner of such Security or Coupon for the purpose of receiving payment thereof or on account thereof
and for all other purposes whatsoever, whether or not any payment with respect to such Security or Coupon shall be overdue, and
none of the Company, the Trustee or any agent of the Company or the Trustee shall be affected by notice to the contrary.

 

No
Holder of any beneficial interest in any global Security held on its behalf by a Depository shall have any rights under this Indenture
with respect to such global Security, and such Depository may be treated by the Company, the Trustee and any agent of the Company
or the Trustee as the owner of such global Security for all purposes whatsoever. None of the Company, the Trustee, any Paying
Agent or the Security Registrar will have any responsibility or liability for any aspect of the records relating to or payments
made on account of beneficial ownership interests of a global Security or for maintaining, supervising or reviewing any records
relating to such beneficial ownership interests.

 

Section
3.9Cancellation.

 

All
Securities and Coupons surrendered for payment, redemption, registration of transfer, exchange or conversion or for credit against
any sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee, and any such
Securities and Coupons, as well as Securities and Coupons surrendered directly to the Trustee for any such purpose, shall be cancelled
promptly by the Trustee. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated
and delivered hereunder which the Company may have acquired in any manner whatsoever, and all Securities so delivered shall be
cancelled promptly by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled
as provided in this Section, except as expressly permitted by or pursuant to this Indenture. All cancelled Securities and Coupons
held by the Trustee shall be destroyed by the Trustee, unless by a Company Order the Company directs their return to it.

 

Section
3.10Computation of Interest.

 

Except
as otherwise provided in or pursuant to this Indenture or in any Security, interest on the Securities shall be computed on the
basis of a 360-day year of twelve 30-day months.

 

Article
4.

SATISFACTION AND DISCHARGE OF INDENTURE

 

Section
4.1Satisfaction and Discharge.

 

Upon
the direction of the Company by a Company Order, this Indenture shall cease to be of further effect [and the provisions of Article
16 shall cease to be effective,] with respect to any series of Securities specified in such Company Order and any Coupons appertaining
thereto, and the Trustee, on receipt of a Company Order, at the expense of the Company, shall execute proper instruments acknowledging
satisfaction and discharge of this Indenture as to such series, when

 

(1)
either

 

(a)
all Securities of such series theretofore authenticated and delivered and all Coupons appertaining thereto (other than (i) Coupons
appertaining to Bearer Securities of such series surrendered in exchange for Registered Securities of such series and maturing
after such exchange whose surrender is not required or has been waived as provided in Section 3.5, (ii) Securities and
Coupons of such series which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 3.6,
(iii) Coupons appertaining to Securities of such series called for redemption and maturing after the relevant Redemption
Date whose surrender has been waived as provided in Section 11.7, and (iv) Securities and Coupons of such series for
whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid
to the Company or discharged from such trust, as provided in Section 10.3) have been delivered to the Trustee for cancellation;
or

 

    	 	22	 

     

    

  

(b)
all Securities of such series and, in the case of (i) or (ii) below, any Coupons appertaining thereto not theretofore
delivered to the Trustee for cancellation, (i) have become due and payable, or (ii) will become due and payable at their
Stated Maturity within one year, or (iii) if redeemable at the option of the Company, are to be called for redemption within
one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and
at the expense, of the Company, and the Company, in the case of (i), (ii) or (iii) above, has deposited or caused to
be deposited with the Trustee as trust funds in trust for such purpose, money in an amount sufficient to pay and discharge the
entire indebtedness on such Securities and any Coupons appertaining thereto not theretofore delivered to the Trustee for cancellation,
including the principal of, any premium and interest on, and any Additional Amounts with respect to such Securities and any Coupons
appertaining thereto, to the date of such deposit (in the case of Securities which have become due and payable) or to the Maturity
thereof, as the case may be;

 

(2)
the Company has paid or caused to be paid all other sums payable hereunder by the Company with respect to the Outstanding Securities
of such series and any Coupons appertaining thereto; and

 

(3)
the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions
precedent herein provided for relating to the satisfaction and discharge of this Indenture as to such series have been complied
with.

 

In
the event there are Securities of two or more series hereunder, the Trustee shall be required to execute an instrument acknowledging
satisfaction and discharge of this Indenture only if requested to do so with respect to Securities of such series as to which
it is Trustee and if the other conditions thereto are met.

 

Notwithstanding
the satisfaction and discharge of this Indenture with respect to any series of Securities, the obligations of the Company to the
Trustee under Section 6.7 and, if money shall have been deposited with the Trustee pursuant to subclause (b) of clause
(1) of this Section, the obligations of the Company and the Trustee with respect to the Securities of such series under Sections
3.5, 3.6, 4.3, 10.2 and 10.3, with respect to the payment of Additional Amounts, if any, with respect to such Securities as contemplated
by Section 10.4 (but only to the extent that the Additional Amounts payable with respect to such Securities exceed the amount
deposited in respect of such Additional Amounts pursuant to Section 4.1(1)(b)), and with respect to any rights to convert
or exchange such Securities into securities of the Company or another issuer shall survive.

 

Section
4.2Defeasance and Covenant Defeasance.

 

(1)
Unless pursuant to Section 3.1, either or both of (i) defeasance of the Securities of or within a series under clause
(2) of this Section 4.2 shall not be applicable with respect to the Securities of such series or (ii) covenant
defeasance of the Securities of or within a series under clause (3) of this Section 4.2 shall not be applicable with
respect to the Securities of such series, then such provisions, together with the other provisions of this Section 4.2 (with
such modifications thereto as may be specified pursuant to Section 3.1 with respect to any Securities), shall be applicable
to such Securities and any Coupons appertaining thereto, and the Company may at its option by Board Resolution, at any time, with
respect to such Securities and any Coupons appertaining thereto, elect to have Section 4.2(2) or Section 4.2(3) be applied
to such Outstanding Securities and any Coupons appertaining thereto upon compliance with the conditions set forth below in this
Section 4.2.

 

(2)
Upon the Company’s exercise of the above option applicable to this Section 4.2(2) with respect to any Securities of
or within a series, the Company shall be deemed to have been discharged from its obligations[, and the provisions of Article 16
shall cease to be effective,] with respect to such Outstanding Securities and any Coupons appertaining thereto on the date the
conditions set forth in clause (4) of this Section 4.2 are satisfied (hereinafter, “defeasance”). For this
purpose, such defeasance means that the Company shall be deemed to have paid and discharged the entire Indebtedness represented
by such Outstanding Securities and any Coupons appertaining thereto, which shall thereafter be deemed to be “Outstanding”
only for the purposes of clause (5) of this Section 4.2 and the other Sections of this Indenture referred to in clauses
(i) and (ii) below, and to have satisfied all of its other obligations under such Securities and any Coupons appertaining
thereto, and this Indenture insofar as such Securities and any Coupons appertaining thereto are concerned (and the Trustee, at
the expense of the Company, shall execute proper instruments acknowledging the same), except for the following which shall survive
until otherwise terminated or discharged hereunder: (i) the rights of Holders of such Outstanding Securities and any Coupons
appertaining thereto to receive, solely from the trust fund described in clause (4) of this Section 4.2 and as more
fully set forth in such clause, payments in respect of the principal of (and premium, if any) and interest, if any, on, and Additional
Amounts, if any, with respect to, such Securities and any Coupons appertaining thereto when such payments are due, and any rights
of such Holder to convert such Securities into other securities of the Company or exchange such Securities for securities of another
issuer, (ii) the obligations of the Company and the Trustee with respect to such Securities under Sections 3.5, 3.6, 10.2
and 10.3 and with respect to the payment of Additional Amounts, if any, on such Securities as contemplated by Section 10.4
(but only to the extent that the Additional Amounts payable with respect to such Securities exceed the amount deposited in respect
of such Additional Amounts pursuant to Section 4.2(4)(a) below), and with respect to any rights to convert such Securities
into other securities of the Company or exchange such Securities for securities of another issuer, (iii) the rights, powers,
trusts, duties and immunities of the Trustee hereunder and (iv) this Section 4.2. The Company may exercise its option
under this Section 4.2(2) notwithstanding the prior exercise of its option under clause (3) of this Section 4.2
with respect to such Securities and any Coupons appertaining thereto.

 

    	 	23	 

     

    

 

(3)
Upon the Company’s exercise of the option to have this Section 4.2(3) apply with respect to any Securities of or within
a series, the Company shall be released from its obligations under, to the extent specified pursuant to Section 3.1(19),
any covenant applicable to such Securities[, and the provisions of Article 16 shall cease to be effective as it relates to the
aforementioned obligations and covenants,] with respect to such Outstanding Securities and any Coupons appertaining thereto, on
and after the date the conditions set forth in clause (4) of this Section 4.2 are satisfied (hereinafter, “covenant
defeasance”), and such Securities and any Coupons appertaining thereto shall thereafter be deemed to be not “Outstanding”
for the purposes of any direction, waiver, consent or declaration or Act of Holders (and the consequences of any thereof) in connection
with any such obligation or covenant, but shall continue to be deemed “Outstanding” for all other purposes hereunder.
For this purpose, such covenant defeasance means that, with respect to such Outstanding Securities and any Coupons appertaining
thereto, 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 Section or such other covenant, [or Article,] whether directly or indirectly, by reason of any reference elsewhere
herein to any such Section or such other covenant[, or Article,] or by reason of reference in any such Section or such other covenant[,
or Article,] to any other provision herein or in any other document and such omission to comply shall not constitute a default
or an Event of Default under Section 5.1(4) or 5.1(7) or otherwise, as the case may be, but, except as specified above, the
remainder of this Indenture and such Securities and Coupons appertaining thereto shall be unaffected thereby.

 

(4)
The following shall be the conditions to application of clause (2) or (3) of this Section 4.2 to any Outstanding
Securities of or within a series and any Coupons appertaining thereto:

 

(a)
The Company shall irrevocably have deposited or caused to be deposited with the Trustee (or another trustee satisfying the requirements
of Section 6.8 who shall agree to comply with the provisions of this Section 4.2 applicable to it) as trust 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 such Securities and any Coupons appertaining thereto, (1) an amount in Dollars, or (2) Government
Obligations applicable to such Securities and Coupons appertaining thereto, which through the scheduled payment of principal and
interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment
of principal of (and premium, if any) and interest, if any, on such Securities and any Coupons appertaining thereto, money in
an amount, or (3) a combination thereof, in any case, in an amount, sufficient, without consideration of any reinvestment
of such principal and interest, 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, (y) the principal of (and premium, if any) and interest, if any, on such
Outstanding Securities and any Coupons appertaining thereto at the Stated Maturity of such principal or installment of principal
or premium or interest and (z) any mandatory sinking fund payments or analogous payments applicable to such Outstanding Securities
and any Coupons appertaining thereto on the days on which such payments are due and payable in accordance with the terms of this
Indenture and of such Securities and any Coupons appertaining thereto.

 

(b)
Such defeasance or covenant defeasance shall not result in a breach or violation of, or constitute a default under, this Indenture
or any other material agreement or instrument to which the Company is a party or by which it is bound.

 

(c)
No Event of Default or event which with notice or lapse of time or both would become an Event of Default with respect to such
Securities and any Coupons appertaining thereto shall have occurred and be continuing on the date of such deposit and, with respect
to defeasance only, at any time during the period ending on the 123rd day after the date of such deposit (it being
understood that this condition shall not be deemed satisfied until the expiration of such period).

 

(d)
In the case of an election under clause (2) of this Section 4.2, the Company shall have delivered to the Trustee an
Opinion of Counsel stating that (i) the Company has received from the Internal Revenue Service a letter ruling, or there
has been published by the Internal Revenue Service a Revenue Ruling, or (ii) since the date of execution of this Indenture,
there has been a change in the applicable Federal income tax law, in either case to the effect that, and based thereon such opinion
shall confirm that, the Holders of such Outstanding Securities and any Coupons appertaining thereto will not recognize income,
gain or loss for Federal income tax purposes as a result of such 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 defeasance had not occurred.

 

    	 	24	 

     

    

 

(e)
In the case of an election under clause (3) of this Section 4.2, the Company shall have delivered to the Trustee an
Opinion of Counsel to the effect that the Holders of such Outstanding Securities and any Coupons appertaining thereto 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.

 

(f)
The Company shall have delivered to the Trustee an Opinion of Counsel to the effect that, after the 123rd day after
the date of deposit, all money and Government Obligations (or other property as may be provided pursuant to Section 3.1)
(including the proceeds thereof) deposited or caused to be deposited with the Trustee (or other qualifying trustee) pursuant to
this clause (4) to be held in trust will not be subject to any case or proceeding (whether voluntary or involuntary) in respect
of the Company under any Federal or State bankruptcy, insolvency, reorganization or other similar law, or any decree or order
for relief in respect of the Company issued in connection therewith.

 

(g)
[At the time of the deposit, (i) no default in the payment of any principal of, premium, if any, or interest on any Senior
Indebtedness shall have occurred and be continuing, (ii) no event of default with respect to any Senior Indebtedness shall
have resulted in such Senior Indebtedness becoming, and continuing to be, due and payable prior to the date on which it would
otherwise have become due and payable (unless payment of such Senior Indebtedness has been made or duly provided for), and (iii) no
other event of default with respect to any Senior Indebtedness shall have occurred and be continuing permitting (after notice
or lapse of time or both) the holders of such Senior Indebtedness (or a trustee on behalf of such holders) to declare such Senior
Indebtedness due and payable prior to the date on which it would otherwise have become due and payable.]

 

(h)
The Company shall have delivered to the Trustee an Officer’s Certificate and the Company shall have delivered to the Trustee
an Opinion of Counsel, each stating that all conditions precedent to the defeasance or covenant defeasance under clause (2) or
(3) of this Section 4.2 (as the case may be) have been complied with.

 

(i)
Notwithstanding any other provisions of this Section 4.2(4), such defeasance or covenant defeasance shall be effected in
compliance with any additional or substitute terms, conditions or limitations which may be imposed on the Company in connection
therewith pursuant to Section 3.1.

 

(5)
The Company shall pay and indemnify the Trustee (or other qualifying trustee, collectively for purposes of this Section 4.2(5)
and Section 4.3, the “Trustee”) against any tax, fee or other charge, imposed on or assessed against the Government
Obligations deposited pursuant to this Section 4.2 or the principal or 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 such Outstanding Securities and any Coupons appertaining
thereto.

 

Anything
in this Section 4.2 to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon
Company Request, any money or Government Obligations (or other property and any proceeds therefrom) held by it as provided in
clause (4) of this Section 4.2 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 a defeasance or covenant defeasance, as applicable, in accordance with this Section 4.2.

 

Section
4.3Application of Trust Money.

 

Subject
to the provisions of the last paragraph of Section 10.3, all money and Government Obligations (or other property as may be
provided pursuant to Section 3.1) (including the proceeds thereof) deposited with the Trustee pursuant to Section 4.1
or 4.2 in respect of any Outstanding Securities of any series and any Coupons appertaining thereto shall be held in trust and
applied by the Trustee, in accordance with the provisions of such Securities and any Coupons appertaining thereto and this Indenture,
to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee
may determine, to the Holders of such Securities and any Coupons appertaining thereto of all sums due and to become due thereon
in respect of principal (and premium, if any) and interest and Additional Amounts, if any; but such money and Government Obligations
need not be segregated from other funds except to the extent required by law. [Money and Government Obligations so held in trust
shall not be subject to the provisions of Article 16 except to the extent set forth in Section 16.1.] [Money and Government
Obligations deposited with the Trustee pursuant to Section 4.1 (and held by it or a Paying Agent) for the payment of Securities
subsequently converted shall be returned to the Company upon Company Request.]

 

    	 	25	 

     

    

 

Section
4.4Reinstatement.

 

If
the Trustee or any Paying Agent is unable to apply any money in accordance with this Article with respect to any Securities by
reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application,
then the obligations under this Indenture and such Securities from which the Company has been discharged or released pursuant
to Section 4.2(2) or 4.2(3) shall be revived and reinstated as though no deposit had occurred pursuant to this Article with
respect to such Securities, until such time as the Trustee or Paying Agent is permitted to apply all money held in trust pursuant
to Section 4.3 with respect to such Securities in accordance with this Article; provided, however, that if the Company
makes any payment of principal of or any premium or interest on any such Securities following such reinstatement of its obligations,
the Company shall be subrogated to the rights (if any) of the Holders of such Securities to receive such payment from the money
so held in trust.

 

Article
5.

REMEDIES

 

Section
5.1Events of Default.

 

“Event
of Default,” wherever used herein with respect to Securities of any series, means any one of the following events (whatever
the reason for such Event of Default and whether it shall be [occasioned by the provisions of Article 16, or be] voluntary or
involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or
regulation of any administrative or governmental body), unless such event is specifically deleted or modified in or pursuant to
the supplemental indenture, Board Resolution or Officer’s Certificate establishing the terms of such Series pursuant to
this Indenture:

 

(1)
default in the payment of any interest on any Security of such series, or any Additional Amounts payable with respect thereto,
when such interest becomes or such Additional Amounts become due and payable, and continuance of such default for a period of
30 days; or

 

(2)
default in the payment of the principal of or any premium on any Security of such series, or any Additional Amounts payable with
respect thereto, when such principal or premium becomes or such Additional Amounts become due and payable at their Maturity; or

 

(3)
default in the deposit of any sinking fund payment when and as due by the terms of a Security of such series; or

 

(4)
default in the performance, or breach, of any covenant or warranty of the Company in this Indenture or the Securities (other than
a covenant or warranty a default in the performance or the breach of which is elsewhere in this Section specifically dealt with
or which has been expressly included in this Indenture solely for the benefit of a series of Securities other than such series),
and continuance of such default or breach for a period of 60 days after there has been given, by registered or certified mail,
to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding
Securities of such series, a written notice specifying such default or breach and requiring it to be remedied and stating that
such notice is a “Notice of Default” hereunder; or

 

(5)
the entry by a court having competent jurisdiction of:

 

(a)
a decree or order for relief in respect of the Company in an involuntary proceeding under any applicable bankruptcy, insolvency,
reorganization or other similar law and such decree or order shall remain unstayed and in effect for a period of 60 consecutive
days; or

 

(b)
a decree or order adjudging the Company to be insolvent, or approving a petition seeking reorganization, arrangement, adjustment
or composition of the Company and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days;
or

 

(c)
a final and non-appealable order appointing a custodian, receiver, liquidator, assignee, trustee or other similar official of
the Company of any substantial part of the property of the Company or ordering the winding up or liquidation of the affairs of
the Company; or

 

    	 	26	 

     

    

 

(6)
the commencement by the Company of a voluntary proceeding under any applicable bankruptcy, insolvency, reorganization or other
similar law or of a voluntary proceeding seeking to be adjudicated insolvent or the consent by the Company to the entry of a decree
or order for relief in an involuntary proceeding under any applicable bankruptcy, insolvency, reorganization or other similar
law or to the commencement of any insolvency proceedings against it, or the filing by the Company of a petition or answer or consent
seeking reorganization, arrangement, adjustment or composition of the Company or relief under any applicable law, or the consent
by the Company to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator,
assignee, trustee or similar official of the Company or any substantial part of the property of the Company or the making by the
Company of an assignment for the benefit of creditors, or the taking of corporate action by the Company in furtherance of any
such action; or

 

(7)
any other Event of Default provided in or pursuant to this Indenture with respect to Securities of such series.

 

Section
5.2Acceleration of Maturity; Rescission and Annulment.

 

If
an Event of Default with respect to Securities of any series at the time Outstanding (other than an Event of Default specified
in clause (5) or (6) of Section 5.1) occurs and is continuing, then the Trustee or the Holders of not less than
25% in principal amount of the Outstanding Securities of such series may declare the principal of all the Securities of such series,
or such lesser amount as may be provided for in the Securities of such series, to be due and payable immediately, by a notice
in writing to the Company (and to the Trustee if given by the Holders), and upon any such declaration such principal or such lesser
amount shall become immediately due and payable.

 

If
an Event of Default specified in clause (5) or (6) of Section 5.1 occurs, all unpaid principal of and accrued interest
on the Outstanding Securities of that series (or such lesser amount as may be provided for in the Securities of such series) shall
ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder
of any Security of that series.

 

At
any time after a declaration of acceleration with respect to the Securities of any series has been made and before a judgment
or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of
not less than a majority in principal amount of the Outstanding Securities of such series, by written notice to the Company and
the Trustee, may rescind and annul such declaration and its consequences if

 

(1)
the Company has paid or deposited with the Trustee a sum of money sufficient to pay

 

(a)
all overdue installments of any interest on and Additional Amounts with respect to all Securities of such series and any Coupon
appertaining thereto,

 

(b)
the principal of and any premium on any Securities of such series which have become due otherwise than by such declaration of
acceleration and interest thereon and any Additional Amounts with respect thereto at the rate or rates borne by or provided for
in such Securities,

 

(c)
to the extent that payment of such interest or Additional Amounts is lawful, interest upon overdue installments of any interest
and Additional Amounts at the rate or rates borne by or provided for in such Securities, and

 

(d)
all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel and all other amounts due the Trustee under Section 6.7; and

 

(2)
all Events of Default with respect to Securities of such series, other than the non-payment of the principal of, any premium and
interest on, and any Additional Amounts with respect to Securities of such series which shall have become due solely by such declaration
of acceleration, shall have been cured or waived as provided in Section 5.13.

 

No
such rescission shall affect any subsequent default or impair any right consequent thereon.

 

    	 	27	 

     

    

 

Section
5.3Collection of Indebtedness and Suits for Enforcement by Trustee.

 

The
Company covenants that if

 

(1)
default is made in the payment of any installment of interest on or any Additional Amounts with respect to any Security or any
Coupon appertaining thereto when such interest or Additional Amounts shall have become due and payable and such default continues
for a period of 30 days, or

 

(2)
default is made in the payment of the principal of or any premium on any Security or any Additional Amounts with respect thereto
at their Maturity, the Company shall, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such Securities
and any Coupons appertaining thereto, the whole amount of money then due and payable with respect to such Securities and any Coupons
appertaining thereto, with interest upon the overdue principal, any premium and, to the extent that payment of such interest shall
be legally enforceable, upon any overdue installments of interest and Additional Amounts at the rate or rates borne by or provided
for in such Securities, and, in addition thereto, such further amount of money 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
and all other amounts due to the Trustee under Section 6.7.

 

If
the Company fails to pay the money it is required to pay the Trustee pursuant to the preceding paragraph forthwith upon the demand
of the Trustee, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection
of the money so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against
the Company or any other obligor upon such Securities and any Coupons appertaining thereto and collect the monies adjudged or
decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities
and any Coupons appertaining thereto, wherever situated.

 

If
an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed
to protect and enforce its rights and the rights of the Holders of Securities of such series and any Coupons appertaining thereto
by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether
for the specific enforcement of any covenant or agreement in this Indenture or such Securities or in aid of the exercise of any
power granted herein or therein, or to enforce any other proper remedy.

 

Section
5.4Trustee May File Proofs of Claim.

 

In
case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition
or other judicial proceeding relative to the Company or any other obligor upon the Securities of any series or the property of
the Company or such other obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities shall
then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have
made any demand on the Company for the payment of any overdue principal, premium, interest or Additional Amounts) shall be entitled
and empowered, by intervention in such proceeding or otherwise,

 

(1)
to file and prove a claim for the whole amount, or such lesser amount as may be provided for in the Securities of any applicable
series, of the principal and any premium, interest and Additional Amounts owing and unpaid in respect of the Securities and any
Coupons appertaining thereto and to file such 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 or counsel) and of the Holders of Securities or any Coupons appertaining thereto allowed in such judicial proceeding,
and

 

(2)
to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same; and
any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding
is hereby authorized by each Holder of Securities or any Coupons 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 Holders of Securities or any Coupons, 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 6.7.

 

Nothing
herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder
of a Security or any Coupon any plan of reorganization, arrangement, adjustment or composition affecting the Securities or Coupons
or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder of a Security or
any Coupon in any such proceeding.

 

    	 	28	 

     

    

 

Section
5.5Trustee May Enforce Claims Without Possession of Securities or Coupons.

 

All
rights of action and claims under this Indenture or any of the Securities or Coupons may be prosecuted and enforced by the Trustee
without the possession of any of the Securities or Coupons or the production thereof in any proceeding relating thereto, and any
such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery or
judgment, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel, shall be for the ratable benefit of each and every Holder of the Securities or Coupons in respect of which
such judgment has been recovered.

 

Section
5.6Application of Money Collected.

 

[Subject
to Article 16, any/Any] money collected by the Trustee pursuant to this Article shall be applied in the following order, at the
date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal, or any premium, interest
or Additional Amounts, upon presentation of the Securities or Coupons, or both, as the case may be, and the notation thereon of
the payment if only partially paid and upon surrender thereof if fully paid:

 

FIRST:
To the payment of all amounts due the Trustee and any predecessor Trustee under Section 6.7;

 

SECOND:
To the payment of the amounts then due and unpaid upon the Securities and any Coupons for principal and any premium, interest
and Additional Amounts 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 aggregate amounts due and payable on such Securities and Coupons for principal and any
premium, interest and Additional Amounts, respectively;

 

THIRD:
The balance, if any, to the Person or Persons entitled thereto.

 

Section
5.7Limitations on Suits.

 

No
Holder of any Security of any series or any Coupons appertaining thereto shall have any right to institute any proceeding, judicial
or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder,
unless

 

(1)
such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities
of such series;

 

(2)
the Holders of not less than 25% in principal amount of the Outstanding Securities of such series shall have made written request
to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder;

 

(3)
such Holder or Holders have offered to the Trustee such indemnity as is reasonably satisfactory to it against the costs, expenses
and liabilities to be incurred in compliance with such request;

 

(4)
the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding;
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 principal amount of the Outstanding Securities of such series; it being understood and intended that no one or more
of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture or
any Security to affect, disturb or prejudice the rights of any other such Holders or Holders of Securities of any other series,
or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture,
except in the manner herein provided and for the equal and ratable benefit of all such Holders.

 

Section
5.8Unconditional Right of Holders to Receive Principal and Any Premium, Interest and Additional Amounts.

 

Notwithstanding
any other provision in this Indenture, the Holder of any Security or Coupon shall have the right, which is absolute and unconditional,
to receive payment of the principal of, any premium and (subject to Sections 3.5 and 3.7) interest on, and any Additional Amounts
with respect to, such Security or payment of such Coupon, as the case may be, on the respective Stated Maturity or Maturities
therefor specified in such Security or Coupon (or, in the case of redemption, on the Redemption Date or, in the case of repayment
at the option of such Holder if provided in or pursuant to this Indenture, on the date such repayment is due) [and to convert
such Security in accordance with Article 15 hereof,] and to institute suit for the enforcement of any such payment, and such right
shall not be impaired without the consent of such Holder.

 

    	 	29	 

     

    

 

Section
5.9Restoration of Rights and Remedies.

 

If
the Trustee or any Holder of a Security or a Coupon has instituted any proceeding to enforce any right or remedy under this Indenture
and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such
Holder, then and in every such case the Company, the Trustee and each such Holder shall, subject to any determination in such
proceeding, be restored severally and respectively to their former positions hereunder, and thereafter all rights and remedies
of the Trustee and each such Holder shall continue as though no such proceeding had been instituted.

 

Section
5.10Rights and Remedies Cumulative.

 

Except
as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities or Coupons
in the last paragraph of Section 3.6, no right or remedy herein conferred upon or reserved to the Trustee or to each and
every Holder of a Security or a Coupon is intended to be exclusive of any other right or remedy, and every right and remedy, to
the extent permitted by law, shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not,
to the extent permitted by law, prevent the concurrent assertion or employment of any other appropriate right or remedy.

 

Section
5.11Delay or Omission Not Waiver.

 

No
delay or omission of the Trustee or of any Holder of any Security or Coupon to exercise any right or remedy accruing upon any
Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence
therein. Every right and remedy given by this Article or by law to the Trustee or to any Holder of a Security or a Coupon may
be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by such Holder, as the case may be.

 

Section
5.12Control by Holders of Securities.

 

The
Holders of a majority in principal amount of the Outstanding Securities of any series shall have the right to direct the time,
method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred
on the Trustee with respect to the Securities of such series and any Coupons appertaining thereto, provided that

 

(1)
such direction shall not be in conflict with any rule of law or with this Indenture or with the Securities of such series,

 

(2)
the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and

 

(3)
such direction is not unduly prejudicial to the rights of the other Holders of Securities of such series not joining in such action.

 

Section
5.13Waiver of Past Defaults.

 

The
Holders of not less than a majority in principal amount of the Outstanding Securities of any series on behalf of the Holders of
all the Securities of such series and any Coupons appertaining thereto may waive any past default hereunder with respect to such
series and its consequences, except a default

 

(1)
in the payment of the principal of, any premium or interest on, or any Additional Amounts with respect to, any Security of such
series or any Coupons appertaining thereto, or

 

(2)
in respect of a covenant or provision hereof which under Article 9 cannot be modified or amended without the consent of the Holder
of each Outstanding Security of such series affected.

 

    	 	30	 

     

    

 

Upon
any such waiver, such default shall cease to exist, and any Event of Default 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 impair any right consequent
thereon.

 

Section
5.14Waiver of Usury, Stay or Extension Laws.

 

The
Company covenants that (to the extent that it may lawfully do so) it will not at any time insist upon, or plead, or in any manner
whatsoever claim or take the benefit or advantage of, any usury, stay or extension law wherever enacted, now or at any time hereafter
in force, which may affect the covenants or the performance of this Indenture; and the Company expressly waives (to the extent
that it may lawfully do so) 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.

 

Section
5.15Undertaking for Costs.

 

All
parties to this Indenture agree, and each Holder of any Security by his acceptance thereof shall be deemed to have agreed, that
any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any
suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in such suit of any
undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable
attorneys’ fees, against any party litigant in such suit having due regard to the merits and good faith of the claims or
defenses made by such party litigant; but the provisions of this Section 5.15 shall not apply to any suit instituted by the
Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount
of Outstanding Securities of any series, or to any suit instituted by any Holder for the enforcement of the payment of the principal
of (or premium, if any) or interest, if any, on or Additional Amounts, if any, with respect to any Security on or after the respective
Stated Maturities expressed in such Security (or, in the case of redemption, on or after the Redemption Date, and, in the case
of repayment, on or after the date for repayment) or for the enforcement of the right, if any, to convert or exchange any Security
into other securities in accordance with its terms.

 

Article
6.

THE TRUSTEE

 

Section
6.1Certain Duties and Responsibilities.

 

(a)
Except during the continuance of an Event of Default,

 

(1)
the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture, and no implied
covenants or obligations shall be read into this Indenture against the Trustee; and

 

(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 that by any provision hereof are specifically required to
be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to
the requirements of this Indenture but not to verify or confirm the contents thereof.

 

(b)
In case an Event of Default actually known to a Responsible Officer of the Trustee 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 their
exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs.

 

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

 

(1)
this paragraph (c) shall not be construed to limit the effect of paragraph (a) of this Section 6.1;

 

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

 

    	 	31	 

     

    

 

(3)
the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with
the direction of the Holders of a majority in principal amount of the Outstanding Securities relating to the time, method and
place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the
Trustee, under this Indenture.

 

Section
6.2Certain Rights of Trustee.

 

Subject
to the provisions of Section 6.1:

 

(1)
the Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, coupon or other paper
or document reasonably believed by it to be genuine and to have been signed or presented by the proper party or parties;

 

(2)
any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or a Company Order
(in each case, other than delivery of any Security, together with any Coupons appertaining thereto, to the Trustee for authentication
and delivery pursuant to Section 3.3 which shall be sufficiently evidenced as provided therein) and any resolution of the
Board of Directors may be sufficiently evidenced by a Board Resolution;

 

(3)
whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior
to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence shall be herein specifically prescribed)
may, in the absence of bad faith on its part, request and rely upon an Officer’s Certificate;

 

(4)
the Trustee may consult with counsel and the written advice of such counsel or any Opinion of Counsel shall be full and complete
authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance
thereon;

 

(5)
the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by or pursuant to this Indenture
at the request or direction of any of the Holders of Securities of any series or any Coupons appertaining thereto pursuant to
this Indenture, unless such Holders shall have offered to the Trustee such security or indemnity as is reasonably satisfactory
to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction;

 

(6)
the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, coupon or other paper or document, but
the Trustee, in its discretion, may, but shall not be obligated to make such further inquiry or investigation into such facts
or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled
to examine, during business hours and upon reasonable notice, the books, records and premises of the Company, personally or by
agent or attorney;

 

(7)
the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through
agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney
appointed with due care by it hereunder;

 

(8)
the Authenticating Agent, Paying Agent, and Security Registrar shall have the same protections as the Trustee set forth hereunder;

 

(9)
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 duties hereunder, or in the exercise of any of its rights or powers;

 

(10)
whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability
of or affording protection to the Trustee shall be subject to the provisions of this Article 6;

 

(11)
the Trustee shall not be liable for any action taken or omitted to be taken by it in good faith that is believed to be authorized
or within the discretion or rights or powers conferred upon it by this Indenture, unless the Trustee’s conduct constitutes
negligence;

 

    	 	32	 

     

    

 

(12)
the permissive rights of the Trustee to do things enumerated in this Indenture shall not be construed as a duty unless so specified
herein; and

 

(13)
the Trustee shall not be deemed to have notice or actual knowledge of any Event of Default unless a Responsible Officer of the
Trustee has actual knowledge thereof or unless written notice of any Event of Default is received by the Trustee pursuant to Section 1.5
hereof. Except as otherwise expressly provided herein, the Trustee shall not be bound to ascertain or inquire as to the performance
or observance of any of the terms, conditions, covenants or agreements herein or in any series of Securities.

 

Section
6.3Notice of Defaults.

 

Within
90 days after the occurrence of any default hereunder with respect to the Securities of any series, the Trustee shall transmit
by mail to all Holders of Securities of such series entitled to receive reports pursuant to Section 7.3(3), notice of such
default hereunder actually known to a Responsible Officer of the Trustee, unless such default shall have been cured or waived;
provided, however, that, except in the case of a default in the payment of the principal of (or premium, if any), or interest,
if any, on, or Additional Amounts or any sinking fund or purchase fund installment with respect to, any Security of such series,
the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee or
a trust committee of directors and/or Responsible Officers of the Trustee in good faith determine that the withholding of such
notice is in the best interest of the Holders of Securities and Coupons of such series. For the purpose of this Section, the term
“default” means any event which is, or after notice or lapse of time or both would become, an Event of Default with
respect to Securities of such series.

 

Section
6.4Not Responsible for Recitals or Issuance of Securities.

 

The
recitals contained herein and in the Securities, except the Trustee’s certificate of authentication, and in any Coupons
shall be taken as the statements of the Company and neither the Trustee nor any Authenticating Agent assumes any responsibility
for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities
or the Coupons, except that the Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate
the Securities and perform its obligations hereunder and that the statements made by it in a Statement of Eligibility on Form
T-1 supplied to the Company are true and accurate, subject to the qualifications set forth therein. Neither the Trustee nor any
Authenticating Agent shall be accountable for the use or application by the Company of the Securities or the proceeds thereof.

 

Section
6.5May Hold Securities.

 

The
Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other Person that may be an agent of the Trustee
or the Company, in its individual or any other capacity, may become the owner or pledgee of Securities or Coupons and, subject
to Sections 310(b) and 311 of the Trust Indenture Act, may otherwise deal with the Company with the same rights it would have
if it were not the Trustee, Authenticating Agent, Paying Agent, Security Registrar or such other Person.

 

Section
6.6Money Held in Trust.

 

Except
as provided in Section 4.3 and Section 10.3, money held by the Trustee in trust hereunder need not be segregated from
other funds except to the extent required by law and shall be held uninvested. The Trustee shall be under no liability for interest
on any money received by it hereunder except as otherwise agreed to in writing with the Company.

 

Section
6.7Compensation and Reimbursement.

 

The
Company agrees:

 

(1)
to pay to the Trustee from time to time reasonable compensation for all services rendered by the Trustee hereunder (which compensation
shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust);

 

(2)
except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses, disbursements
and advances incurred or made by the Trustee in accordance with any provision of this Indenture or arising out of or in connection
with the acceptance or administration of the trust or trusts hereunder (including the reasonable compensation and the expenses
and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable to the Trustee’s
negligence or bad faith; and

 

    	 	33	 

     

    

 

(3)
to indemnify the Trustee and its agents, officers, directors and employees for, and to hold them harmless against, any loss, liability
or expense incurred without negligence or bad faith on their part, arising out of or in connection with the acceptance or administration
of the trust or trusts hereunder, including the costs and expenses of defending themselves against any claim or liability in connection
with the exercise or performance of any of their powers or duties hereunder, except to the extent that any such loss, liability
or expense was due to the Trustee’s negligence or bad faith.

 

As
security for the performance of the obligations of the Company under this Section, the Trustee shall have a lien prior to the
Securities of any series upon all property and funds held or collected by the Trustee as such, except funds held in trust for
the payment of principal of, and premium or interest on or any Additional Amounts with respect to Securities or any Coupons appertaining
thereto.

 

To
the extent permitted by law, any compensation or expense incurred by the Trustee after a default specified in or pursuant to Section 5.1
is intended to constitute an expense of administration under any then applicable bankruptcy or insolvency law. “Trustee”
for purposes of this Section 6.7 shall include any predecessor Trustee but the negligence or bad faith of any Trustee shall
not affect the rights of any other Trustee under this Section 6.7.

 

The
provisions of this Section 6.7 shall survive the satisfaction and discharge of this Indenture or the earlier resignation
or removal of the Trustee and shall apply with equal force and effect to the Trustee in its capacity as Authenticating Agent,
Paying Agent or Security Registrar.

 

Section
6.8Corporate Trustee Required; Eligibility.

 

There
shall at all times be a Trustee hereunder that is a Corporation organized and doing business under the laws of the United States
of America, any state thereof or the District of Columbia, that is eligible under Section 310(a)(1) of the Trust Indenture
Act to act as trustee under an indenture qualified under the Trust Indenture Act and that has a combined capital and surplus (computed
in accordance with Section 310(a)(2) of the Trust Indenture Act) of at least $50,000,000, and that is subject to supervision
or examination by Federal or state authority. If at any time the Trustee shall cease to be eligible in accordance with the provisions
of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

 

Section
6.9Resignation and Removal; Appointment of Successor.

 

(1)
No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective
until the acceptance of appointment by the successor Trustee pursuant to Section 6.10.

 

(2)
The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the
Company. If the instrument of acceptance by a successor Trustee required by Section 6.10 shall not have been delivered to
the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent
jurisdiction for the appointment of a successor Trustee with respect to such series.

 

(3)
The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal
amount of the Outstanding Securities of such series, delivered to the Trustee and the Company.

 

(4)
If at any time:

 

(a)
the Trustee shall fail to comply with the obligations imposed upon it under Section 310(b) of the Trust Indenture Act with
respect to Securities of any series after written request therefor by the Company or any Holder of a Security of such series who
has been a bona fide Holder of a Security of such series for at least six months, or

 

(b)
the Trustee shall cease to be eligible under Section 6.8 and shall fail to resign after written request therefor by the Company
or any such Holder, or

 

    	 	34	 

     

    

 

(c)
the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its
property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for
the purpose of rehabilitation, conservation or liquidation, then, in any such case, (i) the Company, by or pursuant to a
Board Resolution, may remove the Trustee with respect to all Securities or the Securities of such series, or (ii) subject
to Section 315(e) of the Trust Indenture Act, any Holder of a Security who has been a bona fide Holder of a Security of such
series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction
for the removal of the Trustee with respect to all Securities of such series and the appointment of a successor Trustee or Trustees.

 

(5)
If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for
any cause, with respect to the Securities of one or more series, the Company, by or pursuant to a Board Resolution, shall promptly
appoint a successor Trustee or Trustees with respect to the Securities of such series (it being understood that any such successor
Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall
be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements
of Section 6.10. If, within one year after such resignation, removal or incapacity, or the occurrence of such vacancy, a
successor Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a majority in principal
amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so
appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.10,
become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee
appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by
the Company or the Holders of Securities and accepted appointment in the manner required by Section 6.10, any Holder of a
Security who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all
others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect
to the Securities of such series.

 

(6)
The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series
and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event
by first-class mail, postage prepaid, to the Holders of Registered Securities, if any, of such series as their names and addresses
appear in the Security Register and, if Securities of such series are issued as Bearer Securities, by publishing notice of such
event once in an Authorized Newspaper in each Place of Payment located outside the United States. Each notice shall include the
name of the successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office.

 

(7)
In no event shall any retiring Trustee be liable for the acts or omissions of any successor Trustee hereunder.

 

Section
6.10Acceptance of Appointment by Successor.

 

(1)
Upon the appointment hereunder of any successor Trustee with respect to all Securities, such successor Trustee so appointed shall
execute, acknowledge and deliver to the Company and the retiring Trustee an instrument accepting such appointment, and thereupon
the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act,
deed or conveyance, shall become vested with all the rights, powers, trusts and duties hereunder of the retiring Trustee; but,
on the request of the Company or such successor Trustee, such retiring Trustee, upon payment of its charges, shall execute and
deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and, subject
to Section 10.3, shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring
Trustee hereunder, subject nevertheless to its claim, if any, provided for in Section 6.7.

 

(2)
Upon the appointment hereunder of any successor Trustee with respect to the Securities of one or more (but not all) series, the
Company, the retiring Trustee and such successor Trustee shall execute and deliver an indenture supplemental hereto wherein each
successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable
to transfer and confirm to, and to vest in, such successor Trustee all the rights, powers, trusts and duties of the retiring Trustee
with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if
the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary
or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities
of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee,
and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate
the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental
indenture shall constitute such Trustees co-trustees of the same trust, that each such Trustee shall be trustee of a trust or
trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee and that no Trustee
shall be responsible for any notice given to, or received by, or any act or failure to act on the part of any other Trustee hereunder,
and, upon the execution and delivery of such supplemental indenture, the resignation or removal of the retiring Trustee shall
become effective to the extent provided therein, such retiring Trustee shall have no further responsibility for the exercise of
rights and powers or for the performance of the duties and obligations vested in the Trustee under this Indenture with respect
to the Securities of that or those series to which the appointment of such successor Trustee relates other than as hereinafter
expressly set forth, and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the
rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the
appointment of such successor Trustee relates; but, on request of the Company or such successor Trustee, such retiring Trustee,
upon payment of its charges with respect to the Securities of that or those series to which the appointment of such successor
Trustee relates and subject to Section 10.3 shall duly assign, transfer and deliver to such successor Trustee, to the extent
contemplated by such supplemental indenture, the property and money held by such retiring Trustee hereunder with respect to the
Securities of that or those series to which the appointment of such successor Trustee relates, subject to its claim, if any, provided
for in Section 6.7.

 

    	 	35	 

     

    

 

(3)
Upon request of any Person appointed hereunder as a successor Trustee, the Company shall execute any and all instruments for more
fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in paragraph
(1) or (2) of this Section, as the case may be.

 

(4)
No Person shall accept its appointment hereunder as a successor Trustee unless at the time of such acceptance such successor Person
shall be qualified and eligible under this Article.

 

Section
6.11Merger, Conversion, Consolidation or Succession to Business.

 

Any
Corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any Corporation resulting
from any merger, conversion or consolidation to which the Trustee shall be a party, or any Corporation succeeding by sale or otherwise
to all or substantially all of the corporate trust business of the Trustee shall be the successor of the Trustee hereunder, without
the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Securities shall
have been authenticated but not delivered by the Trustee then in office, any successor by merger, conversion or consolidation
to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect
as if such successor Trustee had itself authenticated such Securities.

 

Section
6.12Appointment of Authenticating Agent.

 

The
Trustee may appoint one or more Authenticating Agents acceptable to the Company with respect to one or more series of Securities
which shall be authorized to act on behalf of the Trustee to authenticate Securities of that or those series issued upon original
issue, exchange, registration of transfer, partial redemption or partial repayment or pursuant to Section 3.6, and Securities
so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if
authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the authentication and delivery of Securities
by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication
and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of the
Trustee by an Authenticating Agent.

 

Each
Authenticating Agent must be acceptable to the Company and, except as provided in or pursuant to this Indenture, shall at all
times be a Corporation that would be permitted by the Trust Indenture Act to act as trustee under an indenture qualified under
the Trust Indenture Act, is authorized under applicable law and by its charter to act as an Authenticating Agent and has a combined
capital and surplus (computed in accordance with Section 310(a)(2) of the Trust Indenture Act) of at least $50,000,000. If
at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, it shall resign
immediately in the manner and with the effect specified in this Section.

 

Any
Corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any Corporation
resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any Corporation
succeeding by sale or otherwise to all or substantially all of the corporate agency or corporate trust business of an Authenticating
Agent, shall be the successor of such Authenticating Agent hereunder, provided such Corporation shall be otherwise eligible under
this Section, without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating
Agent.

 

    	 	36	 

     

    

 

An
Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and the Company. The Trustee may at
any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and the
Company. Upon receiving such a notice of resignation or upon such a termination, or in case at any time such Authenticating Agent
shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating
Agent which shall be acceptable to the Company and shall (i) mail written notice of such appointment by first-class mail,
postage prepaid, to all Holders of Registered Securities, if any, of the series with respect to which such Authenticating Agent
shall serve, as their names and addresses appear in the Security Register, and (ii) if Securities of the series are issued
as Bearer Securities, publish notice of such appointment at least once in an Authorized Newspaper in the place where such successor
Authenticating Agent has its principal office if such office is located outside the United States. Any successor Authenticating
Agent, upon acceptance of its appointment hereunder, shall become vested with all the rights, powers and duties of its predecessor
hereunder, with like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed
unless eligible under the provisions of this Section.

 

The
Company agrees to pay each Authenticating Agent from time to time reasonable compensation for its services under this Section.
If the Trustee makes such payments, it shall be entitled to be reimbursed for such payments, subject to the provisions of Section 6.7.

 

The
provisions of Sections 3.8, 6.4 and 6.5 shall be applicable to each Authenticating Agent.

 

If
an Authenticating Agent is appointed with respect to one or more series of Securities pursuant to this Section, the Securities
of such series may have endorsed thereon, in addition to or in lieu of the Trustee’s certificate of authentication, an alternate
certificate of authentication in substantially the following form:

 

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

 

	Dated:	
	 	As Trustee
	 	 	 
	 	By:	      

 

If
all of the Securities of any series may not be originally issued at one time, and if the Trustee does not have an office capable
of authenticating Securities upon original issuance located in a Place of Payment where the Company wishes to have Securities
of such series authenticated upon original issuance, the Trustee, if so requested in writing (which writing need not be accompanied
by or contained in an Officer’s Certificate by the Company), shall appoint in accordance with this

 

Section
an Authenticating Agent having an office in a Place of Payment designated by the Company with respect to such series of Securities.

 

Article
7.

HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY

 

Section
7.1Company to Furnish Trustee Names and Addresses of Holders.

 

In
accordance with Section 312(a) of the Trust Indenture Act, the Company shall furnish or cause to be furnished to the Trustee

 

(1)
semi-annually with respect to Securities of each series not later than May 1 and November 1 of the year or upon such
other dates as are set forth in or pursuant to the Board Resolution or indenture supplemental hereto authorizing such series,
a list, in each case in such form as the Trustee may reasonably require, of the names and addresses of Holders as of the applicable
date, and

 

(2)
at such other times as the Trustee may request in writing, within 30 days after the receipt by the Company of any such request,
a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished, provided, however,
that so long as the Trustee is the Security Registrar no such list shall be required to be furnished.

 

    	 	37	 

     

    

 

Section
7.2Preservation of Information; Communications to Holders.

 

The
Trustee shall comply with the obligations imposed upon it pursuant to Section 312 of the Trust Indenture Act.

 

Every
Holder of Securities or Coupons, by receiving and holding the same, agrees with the Company and the Trustee that none of the Company,
the Trustee, any Paying Agent or any Security Registrar shall be held accountable by reason of the disclosure of any such information
as to the names and addresses of the Holders of Securities in accordance with Section 312(c) of the Trust Indenture Act,
regardless of the source from which such information was derived, and that the Trustee shall not be held accountable by reason
of mailing any material pursuant to a request made under Section 312(b) of the Trust Indenture Act.

 

Section
7.3Reports by Trustee.

 

(1)
Within 60 days after September 15 of each year commencing with the first September 15 following the first issuance of
Securities pursuant to Section 3.1, if required by Section 313(a) of the Trust Indenture Act, the Trustee shall transmit,
pursuant to Section 313(c) of the Trust Indenture Act, a brief report dated as of such September 15 with respect to
any of the events specified in said Section 313(a) which may have occurred since the later of the immediately preceding September 15
and the date of this Indenture.

 

(2)
The Trustee shall transmit the reports required by Section 313(a) and (b) of the Trust Indenture Act at the times specified
therein.

 

(3)
Reports pursuant to this Section shall be transmitted in the manner and to the Persons required by Sections 313(c) and 313(d)
of the Trust Indenture Act.

 

Section
7.4Reports by Company.

 

The
Company, pursuant to Section 314(a) of the Trust Indenture Act, shall:

 

(1)
file with the Trustee, within 15 days after the Company is required to file the same with the Commission, copies of the annual
reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission
may from time to time by rules and regulations prescribe) which the Company may be required to file with the Commission pursuant
to Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended; or, if the Company is not required
to file information, documents or reports pursuant to either of said Sections, then it shall file with the Trustee and the Commission,
in accordance with rules and regulations prescribed from time to time by the Commission, such of the supplementary and periodic
information, documents and reports which may be required pursuant to Section 13 of the Securities Exchange Act of 1934, as
amended, in respect of a security listed and registered on a national securities exchange as may be prescribed from time to time
in such rules and regulations;

 

(2)
file with the Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission,
such additional information, documents and reports with respect to compliance by the Company with the conditions and covenants
of this Indenture as may be required from time to time by such rules and regulations; and

 

(3)
transmit within 30 days after the filing thereof with the Trustee, in the manner and to the extent provided in Section 313(c)
of the Trust Indenture Act, such summaries of any information, documents and reports required to be filed by the Company pursuant
to paragraphs (1) and (2) of this Section as may be required by rules and regulations prescribed from time to time by
the Commission.

 

Article
8.

CONSOLIDATION, MERGER AND SALES

 

Section
8.1Company May Consolidate, Etc., Only on Certain Terms.

 

The
Company shall not consolidate with or merge into any other Person (whether or not affiliated with the Company), or convey, transfer
or lease its properties and assets as an entirety or substantially as an entirety to any other Person (whether or not affiliated
with the Company), and the Company shall not permit any other Person (whether or not affiliated with the Company) to consolidate
with or merge into the Company or convey, transfer or lease its properties and assets as an entirety or substantially as an entirety
to the Company; unless:

 

(1)
in case the Company shall consolidate with or merge into another Person or convey, transfer or lease its properties and assets
as an entirety or substantially as an entirety to any Person, the Person formed by such consolidation or into which the Company
is merged or the Person which acquires by conveyance or transfer, or which leases, the properties and assets of the Company as
an entirety or substantially as an entirety shall be a Corporation organized and existing under the laws of the United States
of America or any state thereof or the District of Columbia and shall expressly assume, by an indenture (or indentures, if at
such time there is more than one Trustee) supplemental hereto, executed by the successor Person and delivered to the Trustee the
due and punctual payment of the principal of, any premium and interest on and any Additional Amounts with respect to all the Securities
and the performance of every obligation in this Indenture and the Outstanding Securities on the part of the Company to be performed
or observed and shall provide for conversion or exchange rights in accordance with the provisions of the Securities [(and in the
case of conversion Article 15 hereof as well)] of any series that are convertible or exchangeable into Common Stock or other securities;

 

    	 	38	 

     

    

 

(2)
immediately after giving effect to such transaction and treating any indebtedness which becomes an obligation of the Company or
a Subsidiary as a result of such transaction as having been incurred by the Company or such Subsidiary at the time of such transaction,
no Event of Default or event which, after notice or lapse of time, or both, would become an Event of Default, shall have occurred
and be continuing; and

 

(3)
either the Company or the successor Person shall have delivered to the Trustee an Officer’s Certificate and an Opinion of
Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is required
in connection with such transaction, such supplemental indenture comply with this Article and that all conditions precedent herein
provided for relating to such transaction have been complied with.

 

Section
8.2Successor Person Substituted for Company.

 

Upon
any consolidation by the Company with or merger of the Company into any other Person or any conveyance, transfer or lease of the
properties and assets of the Company substantially as an entirety to any Person in accordance with Section 8.1, the successor
Person formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or lease 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 Person had been named as the Company herein; and thereafter, except in the case of a lease, the
predecessor Person shall be released from all obligations and covenants under this Indenture, the Securities and the Coupons.

 

Article
9.

SUPPLEMENTAL INDENTURES

 

Section
9.1Supplemental Indentures Without Consent of Holders.

 

Without
the consent of any Holders of Securities or Coupons, the Company (when authorized by or pursuant to a Board Resolution) and the
Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, for any of the following
purposes:

 

(1)
to evidence the succession of another Person to the Company, and the assumption by any such successor of the covenants of the
Company, contained herein and in the Securities; or

 

(2)
to add to the covenants of the Company for the benefit of the Holders of all or any series of Securities (as shall be specified
in such supplemental indenture or indentures) or to surrender any right or power herein conferred upon the Company; or

 

(3)
to add to or change any of the provisions of this Indenture to provide that Bearer Securities may be registrable as to principal,
to change or eliminate any restrictions on the payment of principal of, any premium or interest on or any Additional Amounts with
respect to Securities, to permit Bearer Securities to be issued in exchange for Registered Securities, to permit Bearer Securities
to be exchanged for Bearer Securities of other authorized denominations or to permit or facilitate the issuance of Securities
in uncertificated form, provided any such action shall not adversely affect the interests of the Holders of Outstanding Securities
of any series or any Coupons appertaining thereto in any material respect; or

 

(4)
to establish the form or terms of Securities of any series and any Coupons appertaining thereto as permitted by Sections 2.1 and
3.1; or

 

    	 	39	 

     

    

 

(5)
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, pursuant to the requirements of Section 6.10; or

 

(6)
to cure any ambiguity or to correct or supplement any provision herein which may be defective or inconsistent with any other provision
herein, or to make any other provisions with respect to matters or questions arising under this Indenture which shall not adversely
affect the interests of the Holders of Securities of any series then Outstanding or any Coupons appertaining thereto in any material
respect; or

 

(7)
to add to, delete from or revise the conditions, limitations and restrictions on the authorized amount, terms or purposes of issue,
authentication and delivery of Securities, as herein set forth; or

 

(8)
to add any additional Events of Default with respect to all or any series of Securities (as shall be specified in such supplemental
indenture); or

 

(9)
to supplement any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the defeasance
and discharge of any series of Securities pursuant to Article 4, provided that any such action shall not adversely affect the
interests of any Holder of an Outstanding Security of such series and any Coupons appertaining thereto or any other Outstanding
Security or Coupon in any material respect; or

 

(10)
to secure the Securities; or

 

(11)
[to make provisions with respect to conversion or exchange rights of Holders of Securities pursuant to Article 15]; or

 

(12)
to amend or supplement any provision contained herein or in any supplemental indenture, provided that no such amendment or supplement
shall materially adversely affect the interests of the Holders of any Securities then Outstanding.

 

Section
9.2Supplemental Indentures With Consent of Holders.

 

With
the consent of the Holders of not less than a majority in principal amount of the Outstanding Securities of each series affected
by such supplemental indenture, by Act of said Holders delivered to the Company and the Trustee, the Company (when authorized
by or pursuant to a Company’s Board Resolution) and the Trustee may enter into an indenture or indentures supplemental hereto
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or
of modifying in any manner the rights of the Holders of Securities of such series under this Indenture or of the Securities of
such series; provided, however, that no such supplemental indenture, without the consent of the Holder of each Outstanding Security
affected thereby, shall

 

(1)
change the Stated Maturity of the principal of, or any premium or installment of interest on or any Additional Amounts with respect
to, any Security, or reduce the principal amount thereof or the rate (or modify the calculation of such rate) of interest thereon
or any Additional Amounts with respect thereto, or any premium payable upon the redemption thereof or otherwise, or change the
obligation of the Company to pay Additional Amounts pursuant to the terms hereof (except as contemplated by Section 8.1(1)
and permitted by Section 9.1(1)), or reduce the amount of the principal of an Original Issue Discount Security that would
be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.2 or the amount thereof
provable in bankruptcy pursuant to Section 5.4, change the redemption provisions or adversely affect the right of repayment
at the option of any Holder as contemplated by Article 13, or change the Place of Payment, currency in which the principal of,
any premium or interest on, or any Additional Amounts with respect to any Security is payable, or impair the right to institute
suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after
the Redemption Date or, in the case of repayment at the option of the Holder, on or after the date for repayment), [or modify
the provisions of this Indenture with respect to the subordination of the Securities in a material manner adverse to the Holders,]
or

 

(2)
reduce the percentage in principal amount of the Outstanding Securities of any series, the consent of whose Holders is required
for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions
of this Indenture or certain defaults hereunder and their consequences) provided for in this Indenture, or reduce the requirements
of Section 14.4 for quorum or voting, or

 

    	 	40	 

     

    

 

(3)
modify any of the provisions of this Section, Section 5.13 or Section 10.6, except to increase any such percentage or
to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each
Outstanding Security affected thereby, or

 

(4)
make any change that adversely affects the right to convert or exchange any Security into or for securities of the Company or
other securities (whether or not issued by the Company), cash or property in accordance with its terms (except as otherwise provided
in Section 9.1(11)).

 

A
supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which shall have been included
expressly and solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders
of Securities of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under
this Indenture of the Holders of Securities of any other series.

 

It
shall not be necessary for any Act of Holders of Securities under this Section to approve the particular form of any proposed
supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof.

 

Section
9.3Execution of Supplemental Indentures.

 

As
a condition to executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article
or the modifications thereby of the trust created by this Indenture, the Trustee shall be entitled to receive, and (subject to
Section 315 of the Trust Indenture Act) shall be fully protected in relying upon, an Opinion of Counsel stating that the
execution of such supplemental indenture is authorized or permitted by this Indenture and an Officer’s Certificate stating
that all conditions precedent to the execution of such supplemental indenture have been fulfilled. The Trustee may, but shall
not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities
under this Indenture or otherwise.

 

Section
9.4Effect of Supplemental Indentures.

 

Upon
the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and
such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of a Security theretofore or
thereafter authenticated and delivered hereunder and of any Coupon appertaining thereto shall be bound thereby.

 

Section
9.5Reference in Securities to Supplemental Indentures.

 

Securities
of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and
shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental
indenture. If the Company shall so determine, new Securities of any series so modified as to conform, in the opinion of the Trustee
and the Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered
by the Trustee in exchange for Outstanding Securities of such series.

 

Section
9.6Conformity With Trust Indenture Act.

 

Every
supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act as then
in effect.

 

Section
9.7Notice of Supplemental Indenture.

 

Promptly
after the execution by the Company and the Trustee of any supplemental indenture pursuant to Section 9.2, the Company shall
transmit to the Holders of Outstanding Securities of any series affected thereby a notice setting forth the substance of such
supplemental indenture.

 

    	 	41	 

     

    

 

Article
10.

COVENANTS

 

Section
10.1Payment of Principal, Any Premium, Interest and Additional Amounts.

 

The
Company covenants and agrees for the benefit of the Holders of the Securities of each series that it will duly and punctually
pay the principal of, any premium and interest on and any Additional Amounts with respect to the Securities of such series in
accordance with the terms thereof, any Coupons appertaining thereto and this Indenture. Any interest due on any Bearer Security
on or before the Maturity thereof, and any Additional Amounts payable with respect to such interest, shall be payable only upon
presentation and surrender of the Coupons appertaining thereto for such interest as they severally mature.

 

Section
10.2Maintenance of Office or Agency.

 

The
Company shall maintain in each Place of Payment for any series of Securities an Office or Agency where Securities of such series
(but not Bearer Securities, except as otherwise provided below, unless such Place of Payment is located outside the United States)
may be presented or surrendered for payment, where Securities of such series may be surrendered for registration of transfer or
exchange, where Securities of such series that are convertible or exchangeable may be surrendered for conversion or exchange,
and where notices and demands to or upon the Company in respect of the Securities of such series relating thereto and this Indenture
may be served. If Securities of a series are issuable as Bearer Securities, the Company shall maintain, subject to any laws or
regulations applicable thereto, an Office or Agency in a Place of Payment for such series which is located outside the United
States where Securities of such series and any Coupons appertaining thereto may be presented and surrendered for payment; provided,
however, that if the Securities of such series are listed on The Stock Exchange of the United Kingdom and the Republic of Ireland
or the Luxembourg Stock Exchange or any other stock exchange located outside the United States and such stock exchange shall so
require, the Company shall maintain a Paying Agent in London, Luxembourg or any other required city located outside the United
States, as the case may be, so long as the Securities of such series are listed on such exchange. The Company will 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 Agency or shall fail to furnish the Trustee with the address thereof, such
presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, except that
Bearer Securities of such series and any Coupons appertaining thereto may be presented and surrendered for payment at the place
specified for the purpose with respect to such Securities as provided in or pursuant to this Indenture, and the Company hereby
appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands.

 

Except
as otherwise provided in or pursuant to this Indenture, no payment of principal, premium, interest or Additional Amounts with
respect to Bearer Securities shall be made at any Office or Agency in the United States or by check mailed to any address in the
United States or by transfer to an account maintained with a bank located in the United States; provided, however, if amounts
owing with respect to any Bearer Securities shall be payable in Dollars, payment of principal of, any premium or interest on and
any Additional Amounts with respect to any such Security may be made at the Corporate Trust Office of the Trustee or any Office
or Agency designated by the Company in the Borough of Manhattan, The City of New York, if (but only if) payment of the full amount
of such principal, premium, interest or Additional Amounts at all offices outside the United States maintained for such purpose
by the Company in accordance with this Indenture is illegal or effectively precluded by exchange controls or other similar restrictions.

 

The
Company may also from time to time designate one or more other Offices or Agencies where the Securities of one or more series
may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however,
that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an Office or Agency
in each Place of Payment for Securities of any series for such purposes. The Company shall give prompt written notice to the Trustee
of any such designation or rescission and of any change in the location of any such other Office or Agency. Unless otherwise provided
in or pursuant to this Indenture, the Company hereby designates as the Place of Payment for each series of Securities the Borough
of Manhattan, The City of New York, and initially appoints the Corporate Trust Office of the Trustee as the Office or Agency of
the Company in the Borough of Manhattan, The City of New York for such purpose. The Company may subsequently appoint a different
Office or Agency in the Borough of Manhattan, The City of New York for the Securities of any series.

 

Section
10.3Money for Securities Payments to be Held in Trust.

 

If
the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it shall, on or before each
due date of the principal of, any premium or interest on or Additional Amounts with respect to any of the Securities of such series,
segregate and hold in trust for the benefit of the Persons entitled thereto a sum in the currency or currencies, currency unit
or units or composite currency or currencies in which the Securities of such series are payable (except as otherwise specified
pursuant to Section 3.1 for the Securities of such series) sufficient to pay the principal or any premium, interest or Additional
Amounts so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and shall promptly
notify the Trustee of its action or failure so to act.

 

    	 	42	 

     

    

 

Whenever
the Company shall have one or more Paying Agents for any series of Securities, it shall, on or prior to each due date of the principal
of, any premium or interest on or any Additional Amounts with respect to any Securities of such series, deposit with any Paying
Agent a sum (in the currency or currencies, currency unit or units or composite currency or currencies described in the preceding
paragraph) sufficient to pay the principal or any premium, interest or Additional Amounts so becoming due, such sum to be held
in trust for the benefit of the Persons entitled thereto, and (unless such Paying Agent is the Trustee) the Company will promptly
notify the Trustee of its action or failure so to act.

 

The
Company shall cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee
an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying
Agent shall:

 

(1)
hold all sums held by it for the payment of the principal of, any premium or interest on or any Additional Amounts with respect
to Securities of such series in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons
or otherwise disposed of as provided in or pursuant to this Indenture;

 

(2)
give the Trustee notice of any default by the Company (or any other obligor upon the Securities of such series) in the making
of any payment of principal, any premium or interest on or any Additional Amounts with respect to the Securities of such series;
and

 

(3)
at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee
all sums so held in trust by such Paying Agent.

 

The
Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose,
pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent,
such sums to be held by the Trustee upon the same terms as those upon which such sums were held by the Company or such Paying
Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability
with respect to such sums.

 

Except
as otherwise provided herein or pursuant hereto, any money deposited with the Trustee or any Paying Agent, or then held by the
Company, in trust for the payment of the principal of, any premium or interest on or any Additional Amounts with respect to any
Security of any series or any Coupon appertaining thereto and remaining unclaimed for two years after such principal or any such
premium or interest or any such Additional Amounts shall have become due and payable shall be paid to the Company on Company Request,
or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security or any Coupon appertaining
thereto shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of
the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall
thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may
at the expense of the Company cause to be published once, in an Authorized Newspaper in each Place of Payment for such series
or to be mailed to Holders of Registered Securities of such series, or both, 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 publication or mailing nor shall it
be later than two years after such principal and any premium or interest or Additional Amounts shall have become due and payable,
any unclaimed balance of such money then remaining will be repaid to the Company.

 

Section
10.4Additional Amounts.

 

If
any Securities of a series provide for the payment of Additional Amounts, the Company agrees to pay to the Holder of any such
Security or any Coupon appertaining thereto Additional Amounts as provided in or pursuant to this Indenture or such Securities.
Whenever in this Indenture there is mentioned, in any context, the payment of the principal of or any premium or interest on,
or in respect of, any Security of any series or any Coupon or the net proceeds received on the sale or exchange of any Security
of any series, such mention shall be deemed to include mention of the payment of Additional Amounts provided by the terms of such
series established hereby or pursuant hereto to the extent that, in such context, Additional Amounts are, were or would be payable
in respect thereof pursuant to such terms, and express mention of the payment of Additional Amounts (if applicable) in any provision
hereof shall not be construed as excluding Additional Amounts in those provisions hereof where such express mention is not made.

 

    	 	43	 

     

    

 

Except
as otherwise provided in or pursuant to this Indenture or the Securities of the applicable series, if the Securities of a series
provide for the payment of Additional Amounts, at least 10 days prior to the first Interest Payment Date with respect to such
series of Securities (or if the Securities of such series shall not bear interest prior to Maturity, the first day on which a
payment of principal is made), and at least 10 days prior to each date of payment of principal or interest if there has been any
change with respect to the matters set forth in the below-mentioned Officer’s Certificate, the Company shall furnish to
the Trustee and the principal Paying Agent or Paying Agents, if other than the Trustee, an Officer’s Certificate instructing
the Trustee and such Paying Agent or Paying Agents whether such payment of principal of and premium, if any, or interest on the
Securities of such series shall be made to Holders of Securities of such series or the Coupons appertaining thereto who are United
States Aliens without withholding for or on account of any tax, assessment or other governmental charge described in the Securities
of such series. If any such withholding shall be required, then such Officer’s Certificate shall specify by country the
amount, if any, required to be withheld on such payments to such Holders of Securities or Coupons, and the Company agrees to pay
to the Trustee or such Paying Agent the Additional Amounts required by the terms of such Securities. The Company covenants to
indemnify the Trustee and any Paying Agent for, and to hold them harmless against, any loss, liability or expense reasonably incurred
without negligence or bad faith on their part arising out of or in connection with actions taken or omitted by any of them in
reliance on any Officer’s Certificate furnished pursuant to this Section 10.4.

 

Section
10.5 Corporate Existence.

 

Subject
to Article 8, 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 that of each of its Restricted Subsidiaries and their respective rights (charter and statutory) and franchises;
provided, however, that the foregoing shall not obligate the Company or any of its Restricted Subsidiaries to preserve any such
right or franchise if the Company or any such Restricted Subsidiary shall determine that the preservation thereof is no longer
desirable in the conduct of its business or the business of such Restricted Subsidiary and that the loss thereof is not disadvantageous
in any material respect to any Holder.

 

Section
10.6Waiver of Certain Covenants.

 

The
Company may omit in any particular instance to comply with any term, provision or condition set forth in Section 10.5 with
respect to the Securities of any series if before the time for such compliance the Holders of at least a majority in principal
amount of the Outstanding Securities of such series, by Act of such Holders, either shall waive such compliance in such instance
or generally shall have waived compliance with such term, provision or condition, but no such waiver shall extend to or affect
such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the
obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full
force and effect.

 

Section
10.7Company Statement as to Compliance; Notice of Certain Defaults.

 

(1)
The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year, a written statement (which need not
be contained in or accompanied by an Officer’s Certificate) signed by the principal executive officer, the principal financial
officer or the principal accounting officer of the Company, stating that

 

(a)
a review of the activities of the Company during such year and of its performance under this Indenture has been made under his
or her supervision, and

 

(b)
to the best of his or her knowledge, based on such review, (a) the Company has complied with all the conditions and covenants
imposed on it under this Indenture throughout such year, or, if there has been a default in the fulfillment of any such condition
or covenant, specifying each such default known to him or her and the nature and status thereof, and (b) no event has occurred
and is continuing which is, or after notice or lapse of time or both would become, an Event of Default, or, if such an event has
occurred and is continuing, specifying each such event known to him and the nature and status thereof.

 

(2)
The Company shall deliver to the Trustee, within five days after the occurrence thereof, written notice of any Event of Default
or any event which after notice or lapse of time or both would become an Event of Default pursuant to clause (4) of Section 5.1.

 

(3)
The Trustee shall have no duty to monitor the Company’s compliance with the covenants contained in this Article 10 other
than as specifically set forth in this Section 10.7.

 

    	 	44	 

     

    

 

Article
11.

REDEMPTION OF SECURITIES

 

Section
11.1Applicability of Article.

 

Redemption
of Securities of any series at the option of the Company as permitted or required by the terms of such Securities shall be made
in accordance with the terms of such Securities and (except as otherwise provided herein or pursuant hereto) this Article.

 

Section
11.2Election to Redeem; Notice to Trustee.

 

The
election of the Company to redeem any Securities shall be evidenced by or pursuant to a Board Resolution. In case of any redemption
at the election of the Company of (a) less than all of the Securities of any series or (b) all of the Securities of
any series, with the same issue date, interest rate or formula, Stated Maturity and other terms, the Company shall, at least 60
days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify
the Trustee of such Redemption Date and of the principal amount of Securities of such series to be redeemed.

 

Section
11.3Selection by Trustee of Securities to be Redeemed.

 

Unless
otherwise specified as contemplated by Section 3.1, if less than all of the Securities of any series with the same issue
date, interest rate or formula, Stated Maturity and other terms are to be redeemed, the particular Securities to be redeemed shall
be selected not more than 60 days prior to the Redemption Date by the Trustee from the Outstanding Securities of such series not
previously called for redemption, by such method as the Trustee shall deem fair and appropriate and which may provide for the
selection for redemption of portions of the principal amount of Registered Securities of such series; provided, however, that
no such partial redemption shall reduce the portion of the principal amount of a Registered Security of such series not redeemed
to less than the minimum denomination for a Security of such series established herein or pursuant hereto.

 

The
Trustee shall promptly notify the Company and the Security Registrar (if other than itself) in writing of the Securities selected
for redemption and, in the case of any Securities selected for partial redemption, the principal amount thereof to be redeemed.

 

For
all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities
shall relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal of such Securities
which has been or is to be redeemed.

 

Unless
otherwise specified in or pursuant to this Indenture or the Securities of any series, if any Security selected for partial redemption
is converted into other securities of the Company or exchanged for securities of another issuer in part before termination of
the conversion or exchange right with respect to the portion of the Security so selected, the converted portion of such Security
shall be deemed (so far as may be) to be the portion selected for redemption. Securities which have been converted or exchanged
during a selection of Securities to be redeemed shall be treated by the Trustee as Outstanding for the purpose of such selection.

 

Section
11.4Notice of Redemption.

 

Notice
of redemption shall be given in the manner provided in Section 1.6, not less than 30 nor more than 60 days prior to the Redemption
Date, unless a shorter period is specified in the Securities to be redeemed, to the Holders of Securities to be redeemed. Failure
to give notice by mailing in the manner herein provided to the Holder of any Registered Securities designated for redemption as
a whole or in part, or any defect in the notice to any such Holder, shall not affect the validity of the proceedings for the redemption
of any other Securities or portion thereof.

 

Any
notice that is mailed to the Holder of any Registered Securities in the manner herein provided shall be conclusively presumed
to have been duly given, whether or not such Holder receives the notice.

 

All
notices of redemption shall state:

 

(1)
the Redemption Date,

 

    	 	45	 

     

    

 

(2)
the Redemption Price,

 

(3)
if less than all Outstanding Securities of any series are to be redeemed, the identification (and, in the case of partial redemption,
the principal amount) of the particular Security or Securities to be redeemed,

 

(4)
in case any Security is to be redeemed in part only, the notice which relates to such Security shall state that on and after the
Redemption Date, upon surrender of such Security, the Holder of such Security will receive, without charge, a new Security or
Securities of authorized denominations for the principal amount thereof remaining unredeemed,

 

(5)
that, on the Redemption Date, the Redemption Price shall become due and payable upon each such Security or portion thereof to
be redeemed, and, if applicable, that interest thereon shall cease to accrue on and after said date,

 

(6)
the place or places where such Securities, together (in the case of Bearer Securities) with all Coupons appertaining thereto,
if any, maturing after the Redemption Date, are to be surrendered for payment of the Redemption Price and any accrued interest
and Additional Amounts pertaining thereto,

 

(7)
that the redemption is for a sinking fund, if such is the case,

 

(8)
that, unless otherwise specified in such notice, Bearer Securities of any series, if any, surrendered for redemption must be accompanied
by all Coupons maturing subsequent to the date fixed for redemption or the amount of any such missing Coupon or Coupons will be
deducted from the Redemption Price, unless security or indemnity satisfactory to the Company, the Trustee and any Paying Agent
is furnished,

 

(9)
if Bearer Securities of any series are to be redeemed and no Registered Securities of such series are to be redeemed, and if such
Bearer Securities may be exchanged for Registered Securities not subject to redemption on the Redemption Date pursuant to Section 3.5
or otherwise, the last date, as determined by the Company, on which such exchanges may be made,

 

(10)
in the case of Securities of any series that are convertible into Common Stock of the Company or exchangeable for other securities,
the conversion or exchange price or rate, the date or dates on which the right to convert or exchange the principal of the Securities
of such series to be redeemed will commence or terminate and the place or places where such Securities may be surrendered for
conversion or exchange, and

 

(11)
the CUSIP number or the Euroclear or the Cedel reference numbers of such Securities, if any (or any other numbers used by a Depository
to identify such Securities).

 

A
notice of redemption published as contemplated by Section 1.6 need not identify particular Registered Securities to be redeemed.

 

Notice
of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s
request, by the Trustee in the name and at the expense of the Company.

 

Section
11.5Deposit of Redemption Price.

 

On
or prior to any Redemption Date, the Company shall deposit, with respect to the Securities of any series called for redemption
pursuant to Section 11.4, with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent,
segregate and hold in trust as provided in Section 10.3) an amount of money sufficient to pay the Redemption Price of, and
(except if the Redemption Date shall be an Interest Payment Date, unless otherwise specified pursuant to Section 3.1 or in
the Securities of such series) any accrued interest on and Additional Amounts with respect thereto, all such Securities or portions
thereof which are to be redeemed on that date, other than any Securities called for redemption on that date which have been converted
prior to the date of such deposit (as described in Section 11.3).

 

[If
any Security called for redemption is converted, any money deposited with the Trustee or with any Paying Agent or so segregated
and held in trust for the redemption of such Security shall (subject to any right of the Holder of such Security or any Predecessor
Security to receive interest as provided in the last paragraph of Section 3.7) be paid to the Company upon Company Request
or, if then held by the Company, shall be discharged from such trust.]

 

    	 	46	 

     

    

 

Section
11.6Securities Payable on Redemption Date.

 

Notice
of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable
at the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the
Redemption Price and accrued interest) such Securities shall cease to bear interest and the Coupons for such interest appertaining
to any Bearer Securities so to be redeemed, except to the extent provided below, shall be void. Upon surrender of any such Security
for redemption in accordance with said notice, together with all Coupons, if any, appertaining thereto maturing after the Redemption
Date, such Security shall be paid by the Company at the Redemption Price, together with any accrued interest and Additional Amounts
to the Redemption Date; provided, however, that, except as otherwise provided in or pursuant to this Indenture or the Bearer Securities
of such series, installments of interest on Bearer Securities whose Stated Maturity is on or prior to the Redemption Date shall
be payable only upon presentation and surrender of Coupons for such interest (at an Office or Agency located outside the United
States except as otherwise provided in Section 10.2), and provided, further, that, except as otherwise specified in or pursuant
to this Indenture or the Registered Securities of such series, installments of interest on Registered Securities whose Stated
Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor
Securities, registered as such at the close of business on the Regular Record Dates therefor according to their terms and the
provisions of Section 3.7.

 

If
any Bearer Security surrendered for redemption shall not be accompanied by all appurtenant Coupons maturing after the Redemption
Date, such Security may be paid after deducting from the Redemption Price an amount equal to the face amount of all such missing
Coupons, or the surrender of such missing Coupon or Coupons may be waived by the Company and the Trustee if there be furnished
to them such security or indemnity as they may require to save each of them and any Paying Agent harmless. If thereafter the Holder
of such Security shall surrender to the Trustee or any Paying Agent any such missing Coupon in respect of which a deduction shall
have been made from the Redemption Price, such Holder shall be entitled to receive the amount so deducted; provided, however,
that any interest or Additional Amounts represented by Coupons shall be payable only upon presentation and surrender of those
Coupons at an Office or Agency for such Security located outside of the United States except as otherwise provided in Section 10.2.

 

If
any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal and any premium,
until paid, shall bear interest from the Redemption Date at the rate prescribed therefor in the Security.

 

Section
11.7Securities Redeemed in Part.

 

Any
Registered Security which is to be redeemed only in part shall be surrendered at any Office or Agency for such Security (with,
if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the
Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing) and the Company shall
execute and the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Registered
Security or Securities of the same series, containing identical terms and provisions, of any authorized denomination as requested
by such Holder in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security
so surrendered. If a Security in global form is so surrendered, the Company shall execute, and the Trustee shall authenticate
and deliver to the U.S. Depository or other Depository for such Security in global form as shall be specified in the Company Order
with respect thereto to the Trustee, without service charge, a new Security in global form in a denomination equal to and in exchange
for the unredeemed portion of the principal of the Security in global form so surrendered.

 

Article
12.

SINKING FUNDS

 

Section
12.1Applicability of Article.

 

The
provisions of this Article shall be applicable to any sinking fund for the retirement of Securities of a series, except as otherwise
permitted or required in or pursuant to this Indenture or any Security of such series issued pursuant to this Indenture.

 

The
minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a “mandatory
sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of such
series is herein referred to as an “optional sinking fund payment”. If provided for by the terms of Securities of
any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 12.2. Each sinking
fund payment shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such
series and this Indenture.

 

    	 	47	 

     

    

 

Section
12.2Satisfaction of Sinking Fund Payments With Securities.

 

The
Company may, in satisfaction of all or any part of any sinking fund payment with respect to the Securities of any series to be
made pursuant to the terms of such Securities (1) deliver Outstanding Securities of such series (other than any of such Securities
previously called for redemption or any of such Securities in respect of which cash shall have been released to the Company),
together in the case of any Bearer Securities of such series with all unmatured Coupons appertaining thereto, and (2) apply
as a credit Securities of such series [which have been converted pursuant to Article 15 or] which have been redeemed either at
the election of the Company pursuant to the terms of such series of Securities or through the application of permitted optional
sinking fund payments pursuant to the terms of such Securities, provided that such series of Securities have not been previously
so credited. Such Securities shall be received and credited for such purpose by the Trustee at the Redemption Price specified
in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced
accordingly. If, as a result of the delivery or credit of Securities of any series in lieu of cash payments pursuant to this

 

Section 12.2,
the principal amount of Securities of such series to be redeemed in order to satisfy the remaining sinking fund payment shall
be less than $100,000, the Trustee need not call Securities of such series for redemption, except upon Company Request, and such
cash payment shall be held by the Trustee or a Paying Agent and applied to the next succeeding sinking fund payment, provided,
however, that the Trustee or such Paying Agent shall at the request of the Company from time to time pay over and deliver to the
Company any cash payment so being held by the Trustee or such Paying Agent upon delivery by the Company to the Trustee of Securities
of that series purchased by the Company having an unpaid principal amount equal to the cash payment requested to be released to
the Company.

 

Section
12.3Redemption of Securities for Sinking Fund.

 

Not
less than 75 days prior to each sinking fund payment date for any series of Securities, the Company shall deliver to the Trustee
an Officer’s Certificate specifying the amount of the next ensuing mandatory sinking fund payment for that series pursuant
to the terms of that series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof,
if any, which is to be satisfied by delivering and crediting of Securities of that series pursuant to Section 12.2, and the
optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and will also deliver to the
Trustee any Securities to be so credited and not theretofore delivered. If such Officer’s Certificate shall specify an optional
amount to be added in cash to the next ensuing mandatory sinking fund payment, the Company shall thereupon be obligated to pay
the amount therein specified. Not less than 60 days before each such sinking fund payment date the Trustee shall select the Securities
to be redeemed upon such sinking fund payment date in the manner specified in Section 11.3 and cause notice of the redemption
thereof to be given in the name of and at the expense of the Company in the manner provided in Section 11.4. Such notice
having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 11.6
and 11.7.

 

Article
13.

REPAYMENT AT THE OPTION OF HOLDERS

 

Section
13.1Applicability of Article.

 

Securities
of any series which are repayable at the option of the Holders thereof before their Stated Maturity shall be repaid in accordance
with the terms of the Securities of such series. The repayment of any principal amount of Securities pursuant to such option of
the Holder to require repayment of Securities before their Stated Maturity, for purposes of Section 3.9, shall not operate
as a payment, redemption or satisfaction of the Indebtedness represented by such Securities unless and until the Company, at its
option, shall deliver or surrender the same to the Trustee with a directive that such Securities be cancelled. Notwithstanding
anything to the contrary contained in this Section 13.1, in connection with any repayment of Securities, the Company may
arrange for the purchase of any Securities by an agreement with one or more investment bankers or other purchasers to purchase
such Securities by paying to the Holders of such Securities on or before the close of business on the repayment date an amount
not less than the repayment price payable by the Company on repayment of such Securities, and the obligation of the Company to
pay the repayment price of such Securities shall be satisfied and discharged to the extent such payment is so paid by such purchasers.

 

    	 	48	 

     

    

 

Article
14.

MEETINGS OF HOLDERS OF SECURITIES

 

Section
14.1Purposes for Which Meetings May Be Called.

 

A
meeting of Holders of Securities of any series may be called at any time and from time to time pursuant to this Article to make,
give or take any request, demand, authorization, direction, notice, consent, waiver or other Act provided by this Indenture to
be made, given or taken by Holders of Securities of such series.

 

Section
14.2Call, Notice and Place of Meetings.

 

(1)
The Trustee may at any time call a meeting of Holders of Securities of any series for any purpose specified in Section 14.1,
to be held at such time and at such place in the Borough of Manhattan, The City of New York, or in the city of Tel Aviv, Israel,
or, if Securities of such series have been issued in whole or in part as Bearer Securities, in London or in such place outside
the United States as the Trustee shall determine. Notice of every meeting of Holders of Securities of any series, setting forth
the time and the place of such meeting and in general terms the action proposed to be taken at such meeting, shall be given, in
the manner provided in Section 1.6, not less than 21 nor more than 180 days prior to the date fixed for the meeting.

 

(2)
In case at any time the Company (by or pursuant to a Board Resolution) or the Holders of at least 10% in principal amount of the
Outstanding Securities of any series shall have requested the Trustee to call a meeting of the Holders of Securities of such series
for any purpose specified in Section 14.1, by written request setting forth in reasonable detail the action proposed to be
taken at the meeting, and the Trustee shall not have mailed notice of or made the first publication of the notice of such meeting
within 21 days after receipt of such request (whichever shall be required pursuant to Section 1.6) or shall not thereafter
proceed to cause the meeting to be held as provided herein, then the Company or the Holders of Securities of such series in the
amount above specified, as the case may be, may determine the time and the place in the Borough of Manhattan, The City of New
York, or, if Securities of such series are to be issued as Bearer Securities, in London for such meeting and may call such meeting
for such purposes by giving notice thereof as provided in clause (1) of this Section.

 

Section
14.3Persons Entitled to Vote at Meetings.

 

To
be entitled to vote at any meeting of Holders of Securities of any series, a Person shall be (1) a Holder of one or more
Outstanding Securities of such series, or (2) a Person appointed by an instrument in writing as proxy for a Holder or Holders
of one or more Outstanding Securities of such series by such Holder or Holders. The only Persons who shall be entitled to be present
or to speak at any meeting of Holders of Securities of any series shall be the Persons entitled to vote at such meeting and their
counsel, any representatives of the Trustee and its counsel and any representatives of the Company and its counsel.

 

Section
14.4Quorum; Action.

 

The
Persons entitled to vote a majority in principal amount of the Outstanding Securities of a series shall constitute a quorum for
any meeting of Holders of Securities of such series. In the absence of a quorum within 30 minutes after the time appointed for
any such meeting, the meeting shall, if convened at the request of Holders of Securities of such series, be dissolved. In any
other case the meeting may be adjourned for a period of not less than 10 days as determined by the chairman of the meeting prior
to the adjournment of such meeting. In the absence of a quorum at any reconvened meeting, such reconvened meeting may be further
adjourned for a period of not less than 10 days as determined by the chairman of the meeting prior to the adjournment of such
reconvened meeting. Notice of the reconvening of any adjourned meeting shall be given as provided in Section 14.2(1), except
that such notice need be given only once not less than five days prior to the date on which the meeting is scheduled to be reconvened.

 

Notice
of the reconvening of an adjourned meeting shall state expressly the percentage, as provided above, of the principal amount of
the Outstanding Securities of such series which shall constitute a quorum.

 

Except
as limited by the proviso to Section 9.2, any resolution presented to a meeting or adjourned meeting duly reconvened at which
a quorum is present as aforesaid may be adopted only by the affirmative vote of the Holders of a majority in principal amount
of the Outstanding Securities of that series; provided, however, that, except as limited by the proviso to Section 9.2, any
resolution with respect to any request, demand, authorization, direction, notice, consent, waiver or other Act which this Indenture
expressly provides may be made, given or taken by the Holders of a specified percentage, which is less than a majority, in principal
amount of the Outstanding Securities of a series may be adopted at a meeting or an adjourned meeting duly reconvened and at which
a quorum is present as aforesaid by the affirmative vote of the Holders of such specified percentage in principal amount of the
Outstanding Securities of such series.

 

    	 	49	 

     

    

 

Any
resolution passed or decision taken at any meeting of Holders of Securities of any series duly held in accordance with this Section
shall be binding on all the Holders of Securities of such series and the Coupons appertaining thereto, whether or not such Holders
were present or represented at the meeting.

 

Section
14.5Determination of Voting Rights; Conduct and Adjournment of Meetings.

 

(1)
Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable
for any meeting of Holders of Securities of such series in regard to proof of the holding of Securities of such series and of
the appointment of proxies and in regard to the appointment and duties of inspectors of votes, the submission and examination
of proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting
as it shall deem appropriate. Except as otherwise permitted or required by any such regulations, the holding of Securities shall
be proved in the manner specified in Section 1.4 and the appointment of any proxy shall be proved in the manner specified
in Section 1.4 or by having the signature of the person executing the proxy witnessed or guaranteed by any trust company,
bank or banker authorized by Section 1.4 to certify to the holding of Bearer Securities. Such regulations may provide that
written instruments appointing proxies, regular on their face, may be presumed valid and genuine without the proof specified in
Section 1.4 or other proof.

 

(2)
The Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting, unless the meeting shall have been
called by the Company or by Holders of Securities as provided in Section 14.2(2), in which case the Company or the Holders
of Securities of the series calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent
chairman and a permanent secretary of the meeting shall be elected by vote of the Persons entitled to vote a majority in principal
amount of the Outstanding Securities of such series represented at the meeting.

 

(3)
At any meeting, each Holder of a Security of such series or proxy shall be entitled to one vote for each $1,000 principal amount
of Securities of such series held or represented by him; provided, however, that no vote shall be cast or counted at any meeting
in respect of any Security challenged as not Outstanding and ruled by the chairman of the meeting to be not Outstanding. The chairman
of the meeting shall have no right to vote, except as a Holder of a Security of such series or proxy.

 

(4)
Any meeting of Holders of Securities of any series duly called pursuant to Section 14.2 at which a quorum is present may
be adjourned from time to time by Persons entitled to vote a majority in principal amount of the Outstanding Securities of such
series represented at the meeting; and the meeting may be held as so adjourned without further notice.

 

Section
14.6Counting Votes and Recording Action of Meetings.

 

The
vote upon any resolution submitted to any meeting of Holders of Securities of any series shall be by written ballots on which
shall be subscribed the signatures of the Holders of Securities of such series or of their representatives by proxy and the principal
amounts and serial numbers of the Outstanding Securities of such series held or represented by them. The permanent chairman of
the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution
and who shall make and file with the secretary of the meeting their verified written reports in triplicate of all votes cast at
the meeting. A record, at least in triplicate, of the proceedings of each meeting of Holders of Securities of any series shall
be prepared by the secretary of the meeting and there shall be attached to said record the original reports of the inspectors
of votes on any vote by ballot taken thereat and affidavits by one or more persons having knowledge of the facts setting forth
a copy of the notice of the meeting and showing that said notice was given as provided in Section 14.2 and, if applicable,
Section 14.4. Each copy shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting
and one such copy shall be delivered to the Company and another to the Trustee to be preserved by the Trustee, the latter to have
attached thereto the ballots voted at the meeting. Any record so signed and verified shall be conclusive evidence of the matters
therein stated.

 

    	 	50	 

     

    

 

Article
15.

[CONVERSION OF SECURITIES

 

Section
15.1Conversion Privilege.

 

Subject
to and upon compliance with the provisions of this Article, at the option of the Holder thereof, Securities of any series or any
portion of the principal amount thereof which is $1,000 or an integral multiple of $1,000 (or in the case of Bearer Securities,
a principal amount or portion of $5,000 or an integral multiple of $5,000) may be converted at the principal amount thereof, or
of such portion thereof, into fully paid and nonassessable shares (calculated as to each conversion to the nearest 1/100 of a
share) of Common Stock or Preferred Stock of the Company, in accordance with the terms of such series of Securities and (except
as otherwise specified as contemplated by Section 3.1) in accordance with this Article. In case a Security or portion thereof
is called for redemption, such conversion right in respect of the Security or portion so called shall expire at the close of business
on the Business Day immediately preceding the Redemption Date, unless the Company defaults in making the payment due upon redemption
or the applicable Security provides otherwise.

 

The
price at which shares of Common Stock shall be delivered upon conversion, which shall be specified as contemplated by Section 3.1,
shall be referred to herein as the “conversion price.” The conversion price shall be adjusted in certain instances
in accordance with any provisions relating thereto established in or pursuant to a Board Resolution and set forth in an Officer’s
Certificate, or established in one or more indentures supplemental hereto.

 

Section
15.2Exercise of Conversion Privilege.

 

In
order to exercise the conversion privilege, the Holder of any Security to be converted shall surrender such Security, duly endorsed
or assigned to the Company or in blank, at any office or agency of the Company maintained for that purpose pursuant to Section 10.2,
accompanied by written notice to the Company at such office or agency that the Holder elects to convert such Security or, if less
than the entire principal amount thereof is to be converted, the portion thereof to be converted (in the case of Bearer Securities,
any Bearer Security surrendered for conversion pursuant to this Article must be accompanied by all Coupons maturing subsequent
to the date of surrender of such Bearer Security for conversion or the amount of any such missing Coupons will be deducted from
the amount due on such Security used to determine the amount of shares of Common Stock such Bearer Security may be converted into).
Securities surrendered for conversion during the period from the close of business on any Regular Record Date next preceding any
Interest Payment Date to the opening of business on such Interest Payment Date shall (except in the case of Securities or portions
thereof which have been called for redemption on a Redemption Date such that the conversion right of such Securities would terminate
between such Regular Record Date and the close of business on such Interest Payment Date) be accompanied by payment in funds reasonably
acceptable to the Company of an amount equal to the interest payable on such Interest Payment Date on the principal amount of
Securities being surrendered for conversion (with similar provision to be made for Bearer Securities). The interest so payable
on such Interest Payment Date with respect to any Security (or portion thereof, if applicable) which is surrendered for conversion
during the period from the close of business on any Regular Record Date next preceding any Interest Payment Date to the opening
of business on such Interest Payment Date and which Security has been called for redemption on a Redemption Date with the consequence
that the conversion right of such Security would terminate between such Regular Record Date and the close of business on such
Interest Payment Date shall be paid to the Holder of such Security being converted in an amount equal to the interest that would
have been payable on such Security if such Security had been converted as of the close of business on such Interest Payment Date.
The interest so payable on such Interest Payment Date in respect of any Security (or portion thereof, as the case may be) that
has not been called for redemption on a Redemption Date with the consequence of termination of the conversion right as aforesaid,
which Security (or portion thereof, as the case may be) is surrendered for conversion during the period from the close of business
on any Regular Record Date next preceding any Interest Payment Date to the opening of business on such Interest Payment Date,
shall be paid to the Holder of such Security as of such Regular Record Date. Interest payable in respect of any Security surrendered
for conversion on or after an Interest Payment Date shall be paid to the Holder of such Security as of the next preceding Regular
Record Date, notwithstanding the exercise of the right of conversion. Except as provided in this paragraph and subject to the
last paragraph of Section 3.7, no cash payment or adjustment shall be made upon any conversion on account of any interest
accrued from the Interest Payment Date next preceding the conversion date, in respect of any Security (or part thereof, as the
case may be) surrendered for conversion, or on account of any dividends on the Common Stock issued upon conversion. The Company’s
delivery to the Holder of the number of shares of Common Stock (and cash in lieu of fractions thereof, as provided in this Indenture)
into which a Security is convertible will be deemed to satisfy the Company’s obligation to pay the principal amount of the
Security.

 

Securities
shall be deemed to have been converted immediately prior to the close of business on the day of surrender of such Securities for
conversion in accordance with the foregoing provisions, and at such time the rights of the Holders of such Securities as Holders
shall cease, and the Person or Persons entitled to receive the Common Stock issuable upon conversion shall be treated for all
purposes as the record holder or holders of such Common Stock at such time. As promptly as practicable on or after the conversion
date, the Company shall issue and shall deliver at such office or agency a certificate or certificates for the number of full
shares of Common Stock issuable upon conversion, together with payment in lieu of any fraction of a share, as provided in Section 15.3.

 

    	 	51	 

     

    

 

In
the case of any Security which is converted in part only, upon such conversion the Company shall execute and the Trustee shall
authenticate and deliver to the Holder thereof, at the expense of the Company, a new Security or Securities of authorized denominations
in aggregate principal amount equal to the unconverted portion of the principal amount of such Security.

 

Section
15.3Fractions of Shares.

 

No
fractional shares of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered
for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall
be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead
of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified
portions thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction
of the closing price per share of Common Stock. For purposes of this Section 15.3, the closing price for each day shall be
the last reported sales price regular way or, in case no such reported sale takes place on such day, the average of the reported
closing bid and asked prices regular way, in either case on The NASDAQ Global Market or the New York Stock Exchange or, if the
Common Stock is not listed or admitted to trading on either such Exchange, on the principal national securities exchange on which
the Common Stock is listed or admitted to trading or, if not listed or admitted to trading on any national securities exchange,
the average of the closing bid and asked prices in the over-the-counter market as furnished by any New York Stock Exchange member
firm selected from time to time by the Company for that purpose.]

 

Section
15.4Adjustment of Conversion Price.

 

Any
provisions relating to adjustments to the conversion price of any Securities to be authenticated and delivered hereunder shall
be established in or pursuant to a Board Resolution and set forth in an Officer’s Certificate, or established in one or
more indentures supplemental hereto.

 

Section
15.5Notice of Adjustments of Conversion Price.

 

Whenever
the conversion price is adjusted as herein provided:

 

(a)
the Company shall compute the adjusted conversion price in accordance with any provisions relating thereto established in or pursuant
to a Board Resolution and set forth in an Officer’s Certificate, or established in one or more indentures supplemental hereto,
and shall prepare a certificate signed by the Treasurer of the Company, or other applicable officer, setting forth the adjusted
conversion price and showing in reasonable detail the facts upon which such adjustment is based, and such certificate shall forthwith
be filed at each office or agency maintained for the purpose of conversion of Securities pursuant to Section 10.2; and

 

(b)
a notice stating that the conversion price has been adjusted and setting forth the adjusted conversion price shall forthwith be
required, and as soon as practicable after it is required, such notice shall be mailed by the Company to all Holders at their
last addresses as they shall appear in the Security Register.

 

Section
15.6Notice of Certain Corporate Action.

 

In
case:

 

(a)
the Company shall declare a dividend (or any other distribution) on its Common Stock payable (i) otherwise than exclusively
in cash or (ii) exclusively in cash in an amount that would require any adjustment to the conversion price in accordance
with any provisions relating thereto established in or pursuant to a Board Resolution and set forth in an Officer’s Certificate,
or established in one or more indentures supplemental hereto;

 

(b)
the Company shall authorize the granting to the holders of its Common Stock of rights or warrants to subscribe for or purchase
any shares of capital stock of any class or of any other rights;

 

(c)
of any reclassification of the Common Stock of the Company (other than a subdivision or combination of its outstanding shares
of Common Stock), or of any consolidation or merger to which the Company is a party and for which approval of any shareholders
of the Company is required, or of the sale or transfer of all or substantially all of the assets of the Company; or

 

    	 	52	 

     

    

 

(d)
of the voluntary or involuntary dissolution, liquidation or winding up of the Company; then the Company shall cause to be filed
at each office or agency maintained for the purpose of conversion of Securities pursuant to Section 10.2, and shall cause
to be mailed to all Holders at their last addresses as they shall appear in the Security Register or as otherwise allowed by Section 1.6,
at least 20 days (or ten days in any case specified in clause (a) or (b) above) prior to the applicable record or effective
date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend,
distribution, rights or warrants, or, if a record is not to be taken, the date as of which the holders of Common Stock of record
to be entitled to such dividend, distribution, rights or warrants are to be determined, or (y) the date on which such reclassification,
consolidation, merger, sale, transfer, dissolution, liquidation or winding up is expected to become effective, and the date as
of which it is expected that holders of Common Stock or Preferred Stock of record shall be entitled to exchange their shares of
Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer,
dissolution, liquidation or winding up.

 

The
Company shall cause to be filed at each office or agency maintained for the purpose of conversion of Securities pursuant to Section 10.2,
and shall cause to be provided to all Holders in accordance with Section 1.6, notice of any tender offer by the Company or
any subsidiary of the Company for all or any portion of the Common Stock at or about the time that such notice of tender offer
is provided to the public generally.

 

Section
15.7Company to Reserve Common Stock.

 

The
Company shall at all times reserve and keep available, free from preemptive rights, out of its authorized but unissued Common
Stock, for the purpose of effecting the conversion of Securities, the full number of shares of Common Stock then issuable upon
the conversion of all outstanding Securities.

 

Section
15.8Taxes on Conversions.

 

The
Company will pay any and all taxes that may be payable in respect of the issue or delivery of shares of Common Stock on conversion
of Securities pursuant hereto. The Company shall not, however, be required to pay any tax which may be payable in respect of any
transfer involved in the issue and delivery of shares of Common Stock in a name other than that of the Holder of the Security
or Securities to be converted, and no such issue or delivery shall be made unless and until the Person requesting such issue has
paid to the Company the amount of any such tax, or has established to the satisfaction of the Company that such tax has been paid.

 

Section
15.9Covenant as to Common Stock.

 

The
Company covenants that all shares of Common Stock or Preferred Stock which may be issued upon conversion of Securities will upon
issue be fully paid and nonassessable and, except as provided in Section 15.8, the Company will pay all taxes, liens and
charges with respect to the issue thereof.

 

Section
15.10Cancellation of Converted Securities.

 

All
Securities delivered for conversion shall be delivered to the Trustee to be cancelled by or at the direction of the Trustee, which
shall dispose of the same as provided in Section 3.9.

 

Section
15.11Provisions in Case of Consolidation, Merger of Sale of Assets.

 

In
case of any consolidation of the Company with, or merger of the Company into, any other Person, any merger of another Person into
the Company (other than a merger which does not result in any reclassification, conversion, exchange or cancellation of the outstanding
shares of Common Stock of the Company) or any sale or transfer or conveyance of all or substantially all of the assets of the
Company, the Person formed by such consolidation or resulting from such merger or which acquires such assets, as the case may
be, shall execute and deliver to the Trustee a supplemental indenture providing that the Holder of each Security then Outstanding
shall have the right thereafter, during the period such Security shall be convertible as specified in Section 15.1, to convert
such Security only into the kind and amount of securities, cash and other property receivable upon such consolidation, merger,
sale or transfer or conveyance by a holder of the number of shares of Common Stock into which such Security might have been converted
immediately prior to such consolidation, merger, sale or transfer or conveyance, assuming such holder of Common Stock of the Company
(i) is not a Person with which the Company consolidated or into which the Company merged or which merged into the Company
or to which such sale or transfer was made, as the case may be (“constituent Person”), or an Affiliate of a constituent
Person and (ii) failed to exercise his rights of election, if any, as to the kind or amount of securities, cash and other
property receivable upon such consolidation, merger, sale or transfer or conveyance (provided that if the kind or amount of securities,
cash and other property receivable upon such consolidation, merger, sale or transfer is not the same for each share of Common
Stock of the Company held immediately prior to such consolidation, merger, sale or transfer by others than a constituent Person
or an Affiliate thereof and in respect of which such rights of election shall not have been exercised (“nonelecting share”),
then for the purpose of this Section the kind and amount of securities, cash and other property receivable upon such consolidation,
merger, sale or transfer by each nonelecting share shall be deemed to be the kind and amount so receivable per share by a plurality
of the nonelecting shares). Such supplemental indenture shall provide for adjustments which, for events subsequent to the effective
date of such supplemental indenture, shall be as nearly equivalent as may be practicable to the adjustments provided for in this
Article. The above provisions of this Section shall similarly apply to successive consolidations, mergers, sales or transfers.
Notice of the execution of such a supplemental indenture shall be given by the Company to the Holder of each Security as provided
in Section 1.6 promptly upon such execution.

 

    	 	53	 

     

    

 

The
Company shall be solely responsible for performing the duties and responsibilities contained in this Article and the Trustee shall
have no responsibility therefor.]

 

Article
16.

[SUBORDINATION OF SECURITIES

 

Section
16.1Securities Subordinate to Senior Indebtedness.

 

The
Company covenants and agrees, and each Holder of a Security, by his acceptance thereof, likewise covenants and agrees, that, to
the extent and in the manner hereinafter set forth in this Article, the Indebtedness represented by the Securities and the payment
of the principal of (and premium, if any) and interest on each and all of the Securities are hereby expressly made subordinate
and subject in right of payment to the prior payment in full of all Senior Indebtedness.

 

Notwithstanding
the foregoing, if a deposit referred to in Section 4.2(4)(a) is made pursuant to Section 4.2(2) or Section 4.2(3)
with respect to any Securities (and provided all other conditions set out in Section 4.2(4) shall have been satisfied with
respect to such Securities), then, following such deposit or following the 123rd day after such deposit with respect to defeasance
only, no money or Government Obligations so deposited, and no proceeds thereon, will be subject to any rights of holders of Senior
Indebtedness, including any such rights arising under this Article 16.

 

Section
16.2Payment Over of Proceeds Upon Dissolution, Etc.

 

In
the event of (a) any insolvency or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other
similar case or proceeding in connection therewith, relative to the Company or to its creditors, as such, or to its assets, or
(b) any liquidation, dissolution or other winding up of the Company, whether voluntary or involuntary and whether or not
involving insolvency or bankruptcy, or (c) any assignment for the benefit of creditors or any other marshalling of assets
and liabilities of the Company, then and in any such event the holders of Senior Indebtedness shall be entitled to receive payment
in full of all amounts due or to become due on or in respect of all Senior Indebtedness, or provision shall be made for such payment
in cash or cash equivalents or otherwise in a manner satisfactory to the holders of Senior Indebtedness, before the Holders of
the Securities are entitled to receive any payment or distribution of any kind or character, whether in cash, property or securities
(including any payment or distribution which may be payable or deliverable by reason of the payment of any other Indebtedness
of the Company subordinated to the payment of the Securities), on account of principal of (or premium, if any) or interest on
the Securities or on account of any purchase or other acquisition of Securities by the Company or any Subsidiary of the Company
(all such payments, distributions, purchases and acquisitions herein referred to, individually and collectively, as a “Securities
Payment”), and to that end the holders of Senior Indebtedness shall be entitled to receive, for application to the payment
thereof, any Securities Payment.

 

In
the event that, notwithstanding the foregoing provisions of this Section, the Trustee or the Holder of any Security shall have
received any Securities Payment, before all Senior Indebtedness is paid in full or payment thereof provided for in cash or cash
equivalents or otherwise in a manner satisfactory to holders of Senior Indebtedness, and if such fact shall, at or prior to the
time of such Securities Payment, have been made known to the Trustee or, as the case may be, such Holder, then and in such event
such Securities Payment shall be paid over or delivered forthwith to the trustee in bankruptcy, receiver, liquidating trustee,
custodian, assignee, agent or other Person making payment or distribution of assets of the Company for application to the payment
of all Senior Indebtedness remaining unpaid, to the extent necessary to pay all Senior Indebtedness in full, after giving effect
to any concurrent payment or distribution to or for the holders of Senior Indebtedness. Any taxes that have been withheld or deducted
from any Securities Payment, or any taxes that ought to have been withheld or deducted from any such Securities Payment that have
been remitted to the relevant taxing authority, shall not be considered to be an amount that the Trustee or the Holder of any
Security receives for purposes of this Section.

 

    	 	54	 

     

    

 

For
purposes of this Article only, the words “cash, property or securities” shall not be deemed to include shares of stock
of the Company as reorganized or readjusted, or securities of the Company or any other corporation provided for by a plan of reorganization
or readjustment which are subordinated in right of payment to all Senior Indebtedness which may at the time be outstanding to
substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article.
The consolidation of the Company with, or the merger of the Company into, another Person or the liquidation or dissolution of
the Company following the conveyance or transfer of its properties and assets substantially as an entirety to another Person upon
the terms and conditions set forth in Article 8 shall not be deemed a dissolution, winding up, liquidation, reorganization, assignment
for the benefit of creditors or marshalling of assets and liabilities of the Company for the purposes of this Section if the Person
formed by such consolidation or into which the Company is merged or which acquires by conveyance or transfer such properties and
assets substantially as an entirety, as the case may be, shall, as a part of such consolidation, merger, conveyance or transfer,
comply with the conditions set forth in Article 8.

 

Section
16.3No Payment when Senior Indebtedness in Default.

 

Anything
in this Indenture to the contrary notwithstanding, no Securities Payment shall be made by or on behalf of the Company (i) unless
full payment of amounts then due for principal and interest and of all other obligations then due on all Senior Indebtedness has
been made or duly provided for pursuant to the terms of the instrument governing such Senior Indebtedness, (ii) if, at the
time of such payment, redemption, purchase or other acquisition, or immediately after giving effect thereto, there shall exist
under any Senior Indebtedness, or any agreement pursuant to which any Senior Indebtedness is issued, any default, which default
shall not have been cured or waived and which default shall have resulted in the full amount of such Senior Indebtedness being
declared due and payable or (iii) if, at the time of such payment, redemption, purchase or other acquisition, the Trustee
shall have received written notice from the holder or holders of any Senior Indebtedness or their representative or representatives
(a “Payment Blockage Notice”) that there exists under such Senior Indebtedness, or any agreement pursuant to which
such Senior Indebtedness is issued, any default, which default shall not have been cured or waived, permitting the holders thereof
to declare the full amount of such Senior Indebtedness due and payable, but only for the period (the “Payment Blockage Period”)
commencing on the date of receipt of the Payment Blockage Notice and ending (unless earlier terminated by notice given to the
Trustee by the Holders of such Senior Indebtedness) on the earlier of (A) the date on which such event of default shall have
been cured or waived or ceased to exist or the Senior Indebtedness to which such default relates shall have been discharged or
(B) 180 days from the receipt of the Payment Blockage Notice; provided, however, that nothing in this Section shall prevent
the satisfaction of any sinking fund payment in accordance with Article 12 hereof by delivery and crediting pursuant to Section 12.2
Securities which have been acquired (upon redemption or otherwise) prior to the acceleration of any such default listed in (i) or
(ii) directly above or prior to receipt of any Payment Blockage Notice. Upon termination of a Payment Blockage Period, payments
on account of principal of, premium, if any, or interest on the Securities, and redemptions, purchases or other acquisitions may
be made by or on behalf of the Company. Notwithstanding anything herein to the contrary, (A) only one Payment Blockage Notice
may be given during any period of 360 consecutive days with respect to the same event of default and any other events of default
on the same issue of Senior Indebtedness existing and known to the person giving such notice at the time of such notice and (B) no
new Payment Blockage Period may be commenced by the holder or holders of the same issue of Senior Indebtedness or their representative
or representatives during any period of 360 consecutive days unless all events of default which were the object of the immediately
preceding Payment Blockage Notice, and any other event of default on the same issue of Senior Indebtedness existing and known
to the person giving such notice at the time of such notice, have been cured or waived for a period of at least 90 consecutive
days.

 

In
the event that, notwithstanding the provisions of this Section 16.3, payments are made by or on behalf of the Company in
contravention of the provisions of this Section 16.3, such payments shall be held by the Trustee, any Paying Agent or the
Holders, as applicable, in trust for the benefit of, and shall be paid over to and delivered to, the holders of Senior Indebtedness
or their representative or the trustee under the indenture or other agreement (if any), pursuant to which any instruments evidencing
any Senior Indebtedness may have been issued, as their respective interests may appear, for application to the payment of all
Senior Indebtedness remaining unpaid to the extent necessary to pay all Senior Indebtedness in full in accordance with the terms
of such Senior Indebtedness, after giving effect to any concurrent payment or distribution to or for the holders of Senior Indebtedness.

 

The
provisions of this Section shall not apply to any payment with respect to which Section 16.2 would be applicable.

 

    	 	55	 

     

    

 

Section
16.4Reliance by Senior Indebtedness on Subordination Provisions.

 

Each
Holder of any Security by his acceptance thereof acknowledges and agrees that the foregoing subordination provisions are, and
are intended to be, an inducement and a consideration for each holder of any Senior Indebtedness, whether such Senior Indebtedness
was created or acquired before or after the issuance of the Securities, to acquire and continue to hold, or to continue to hold,
such Senior Indebtedness, and such holder of Senior Indebtedness shall be deemed conclusively to have relied on such subordination
provisions in acquiring and continuing to hold or in continuing to hold such Senior Indebtedness.

 

Section
16.5Payment Permitted If No Default.

 

Nothing
contained in this Article or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any
time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit
of creditors or other marshalling of assets and liabilities of the Company referred to in Section 16.2 or under the conditions
described in Section 16.3, from making Securities Payments, or (b) the application by the

 

Trustee
of any money deposited with it hereunder to Securities Payments or the retention of such Securities Payments by the Holders, if,
at the time of such application by the Trustee, it did not have knowledge that such Securities Payments would have been prohibited
by the provisions of this Article.

 

Section
16.6Subrogation to Rights of Holders of Senior Indebtedness.

 

Subject
to the payment in full of all Senior Indebtedness or the provision for such payment in cash or cash equivalents or otherwise in
a manner satisfactory to the holders of Senior Indebtedness, the Holders of the Securities shall be subrogated to the extent of
the payments or distributions made to the holders of such Senior Indebtedness pursuant to the provisions of this Article (equally
and ratably with the holders of all indebtedness of the Company which by its express terms is subordinated to indebtedness of
the Company to substantially the same extent as the Securities are subordinated and is entitled to like rights of subrogation)
to the rights of the holders of such Senior Indebtedness to receive payments and distributions of cash, property and securities
applicable to the Senior Indebtedness until the principal of (and premium, if any) and interest on the Securities shall be paid
in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Indebtedness of any cash,
property or securities to which the Holders of the Securities or the Trustee would be entitled except for the provisions of this
Article, and no payments over pursuant to the provisions of this Article to the holders of Senior Indebtedness by Holders of the
Securities or the Trustee, shall, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders
of the Securities, be deemed to be a payment or distribution by the Company to or on account of the Senior Indebtedness.

 

Section
16.7Provisions Solely to Define Relative Rights.

 

The
provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities
on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this
Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders
of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional (and
which, subject to the rights under this Article of the holders of Senior Indebtedness, is intended to rank equally with all other
general obligations of the Company), to pay to the Holders of the Securities the principal of (and premium, if any) and interest
on the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative
rights against the Company of the Holders of the Securities and creditors of the Company other than the holders of Senior Indebtedness;
or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law
upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness to
receive cash, property and securities otherwise payable or deliverable to the Trustee or such Holder.

 

Section
16.8Trustee to Effectuate Subordination.

 

Each
holder of a Security by his acceptance thereof authorizes and directs the Trustee on his behalf to take such action as may be
necessary or appropriate to effectuate the subordination provided in this Article and appoints the Trustee his attorney-in-fact
for any and all such purposes.

 

    	 	56	 

     

    

 

Section
16.9No Waiver of Subordination Provisions.

 

No
right of any present or future holder of any Senior Indebtedness to enforce subordination as herein provided shall at any time
in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act,
in good faith, by any such holder, or by any non-compliance by the Company with the terms, provisions and covenants of this Indenture,
regardless of any knowledge thereof any such holder may have or be otherwise charged with.

 

Without
in any way limiting the generality of the foregoing paragraph, the holders of Senior Indebtedness may, at any time and from time
to time, without the consent of or notice to the Trustee or the Holders of the Securities, without incurring responsibility to
the Holders of the Securities and without impairing or releasing the subordination provided in this Article or the obligations
hereunder of the Holders of the Securities to the holders of Senior Indebtedness, do any one or more of the following: (i) change
the manner, place or terms of payment or extend the time of payment of, or renew or alter, Senior Indebtedness, or otherwise amend
or supplement in any manner Senior Indebtedness or any instrument evidencing the same or any agreement under which Senior Indebtedness
is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing
Senior Indebtedness; (iii) release any Person liable in any manner for the collection of Senior Indebtedness; and (iv) exercise
or refrain from exercising any rights against the Company and any other Person.

 

Section
16.10Notice to Trustee.

 

The
Company shall give prompt written notice to the Trustee of any fact known to the Company which would prohibit the making of any
payment to or by the Trustee in respect of the Securities. Notwithstanding the provisions of this Article or any other provision
of this Indenture, the Trustee shall not be charged with knowledge of the existence of any facts which would prohibit the making
of any payment to or by the Trustee in respect of the Securities, unless and until the Trustee shall have received written notice
thereof from the Company or a holder of Senior Indebtedness or from any trustee therefor; and, prior to the receipt of any such
written notice, the Trustee, subject to the provisions of Section 6.1, shall be entitled in all respects to assume that no
such facts exist.

 

Subject
to the provisions of Section 6.1, the Trustee shall be entitled to rely on the delivery to it of a written notice by a Person
representing himself to be a holder of Senior Indebtedness (or a trustee therefor) to establish that such notice has been given
by a holder of Senior Indebtedness (or a trustee therefor). In the event that the Trustee determines in good faith that further
evidence is required with respect to the right of any Person as a holder of Senior Indebtedness to participate in any payment
or distribution pursuant to this Article, the Trustee may request such Person to furnish evidence to the reasonable satisfaction
of the Trustee as to the amount of Senior Indebtedness held by such Person, the extent to which such Person is entitled to participate
in such payment or distribution and any other facts pertinent to the rights of such Person under this Article, and if such evidence
is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person
to receive such payment.

 

Section
16.11Reliance on Judicial Order or Certificate of Liquidating Agent.

 

Upon
any payment or distribution of assets of the Company referred to in this Article, the Trustee, subject to the provisions of Section 6.1,
and the Holders of the Securities shall be entitled to rely upon any order or decree entered by any court of competent jurisdiction
in which such insolvency, bankruptcy, receivership, liquidation, reorganization, dissolution, winding up or similar case or proceeding
is pending, or a certificate of the trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee for the benefit
of creditors, agent or other Person making such payment or distribution, delivered to the Trustee or to the Holders of Securities,
for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the holders of the Senior
Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed
thereon and all other facts pertinent thereto or to this Article.

 

Section
16.12Trustee Not Fiduciary for Holders of Senior Indebtedness.

 

The
Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness and shall not be liable to any such
holders if it shall in good faith mistakenly pay over or distribute to Holders of Securities or to the Company or to any other
Person cash, property or securities to which any holders of Senior Indebtedness shall be entitled by virtue of this Article or
otherwise.

 

Section
16.13Rights of Trustee as Holder of Senior Indebtedness; Preservation of Trustee’s Rights.

 

The
Trustee in its individual capacity shall be entitled to all the rights set forth in this Article with respect to any Senior Indebtedness
which may at any time be held by it, to the same extent as any other holder of Senior Indebtedness, and nothing in this Indenture
shall deprive the Trustee of any of its rights as such holder.

 

Nothing
in this Article shall apply to claims of, or payments to, the Trustee under or pursuant to Section 6.7.

 

    	 	57	 

     

    

 

Section
16.14Article Applicable to Paying Agents.

 

In
case at any time any Paying Agent other than the Trustee shall have been appointed by the Company and be then acting hereunder,
the term “Trustee” as used in this Article shall in such case (unless the context otherwise requires) be construed
as extending to and including such Paying Agent within its meaning as fully for all intents and purposes as if such Paying Agent
were named in this Article in addition to or in place of the Trustee; provided, however, that Section 16.13
shall not apply to the Company or any Affiliate of the Company if it or such Affiliate acts as Paying Agent.

 

Section
16.15Defeasance of this Article 16.

 

The
subordination of the Securities provided by this Article 16 is expressly made subject to the provisions for defeasance in Section 4.2(2)
hereof or covenant defeasance in Section 4.2(3) hereof and, anything herein to the contrary notwithstanding, upon the effectiveness
of any such defeasance or covenant defeasance, the Securities then outstanding shall thereupon cease to be subordinated pursuant
to this Article 16.]

 

Article
17.

GUARANTEES

 

Securities
of any series that are to be guaranteed by the Guarantees of any Guarantors shall be guaranteed by such Guarantors as shall be
established pursuant to Section 3.1 with respect to the Securities of such series. The Persons who shall initially be the Guarantors
of the Securities of any such series may include any and all Persons as the Company may determine; provided that, prior to the
authentication and delivery upon original issuance of Securities that are to be guaranteed by such Person or Persons, the Company,
the Trustee and such Person or Persons shall enter into a supplemental indenture pursuant to Article 9 hereof whereby such Person
or Persons shall become a Guarantor under this Indenture.

 

Securities
of any series that are to be guaranteed by the Guarantees of any Guarantors shall be guaranteed in accordance with the terms of
such Guarantees as established pursuant to Section 3.1 with respect to such Securities and such Guarantees thereof and (except
as otherwise specified as contemplated by Section 3.1 for such Securities and such Guarantees thereof) in accordance with this
Article.

 

Each
Guarantor of any Security hereby fully and unconditionally guarantees to each Holder of such Security, and to the Trustee on behalf
of such Holder, the due and punctual payment of the principal of, and premium, if any, and interest, if any, on such Security
when and as the same shall become due and payable, whether at the Stated Maturity, by declaration of acceleration, call for redemption
or otherwise, in accordance with the terms of such Security and of this Indenture. In case of the failure of the Company punctually
to make any such payment, such Guarantor hereby agrees to cause such payment to be made punctually when and as the same shall
become due and payable, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise, and
as if such payment were made by the Company.

 

The
Guarantor of any Security hereby agrees that its obligations hereunder shall be absolute and unconditional irrespective of, and
shall be unaffected by, any invalidity, irregularity or unenforceability of such Security or this Indenture, any failure to enforce
the provisions of such Security or this Indenture, or any waiver, modification or indulgence granted to the Company with respect
thereto, by the Holder of such Security or the Trustee or any other circumstance which may otherwise constitute a legal or equitable
discharge or defense of a surety or guarantor; provided, however, that, notwithstanding the foregoing, no such waiver, modification
or indulgence shall, without the consent of any Guarantor, increase the principal amount of such Security, or increase the interest
rate thereon, change any redemption provisions thereof (including any change to increase any premium payable upon redemption thereof)
or change the Stated Maturity of any payment thereon, or increase the principal amount of any Original Issue Discount Security
that would be due and payable upon a declaration of acceleration or the maturity thereof pursuant to Section 5.2 of this Indenture.

 

    	 	58	 

     

    

 

The
Guarantor of any Security hereby waives the benefits of diligence, presentment, demand for payment, any requirement that the Trustee
or any of the Holders exhaust any right or take any action against the Company or any other Person, filing of claims with a court
in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest
or notice with respect to any Security or the indebtedness evidenced thereby and all demands whatsoever, and covenants that its
obligations hereunder will not be discharged in respect of such Security except by complete performance of the obligations of
such Guarantor contained in such Security and in this Indenture. Any Guarantee of any Guarantor hereunder shall constitute a guaranty
of payment and not of collection. The Guarantor of any Security hereby agrees that, in the event of a default in payment of principal,
or premium, if any, or interest, if any, on such Security, whether at its Stated Maturity, by declaration of acceleration, call
for redemption or otherwise, legal proceedings may be instituted by the Trustee on behalf of, or by, the Holder of such Security,
subject to the terms and conditions set forth in this Indenture, directly against such Guarantor to enforce the obligation of
such Guarantor hereunder without first proceeding against the Company.

 

The
obligations of the Guarantor of any Security hereunder with respect to such Security shall be continuing and irrevocable until
the date upon which the entire principal of, premium, if any, and interest, if any, on such Security has been, or has been deemed
pursuant to the provisions of this Indenture to have been, paid in full or otherwise discharged.

 

The
Guarantor of any Security shall be subrogated to all rights of the Holders of such Security against the Company in respect of
any amounts paid by the Guarantor on account of such Security pursuant to the provisions of this Indenture; provided, however,
that such Guarantor shall not be entitled to enforce or to receive any payments arising out of, or based upon, such right of subrogation
until the principal of, and premium, if any, and interest, if any, on all Securities issued hereunder that are due and payable
shall have been paid in full.

 

The
Guarantee by any Guarantor of any Security shall remain in full force and effect and continue notwithstanding any petition filed
by or against the Company for liquidation or reorganization, the Company becoming insolvent or making an assignment for the benefit
of creditors or a receiver or trustee being appointed for all or any significant part of the Company’s assets, and shall,
to the fullest extent permitted by law, continue to be effective or reinstated, as the case may be, if at any time payment of
such Security, is, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by any
Holder of such Security, whether as a “voidable preference,” “fraudulent transfer,” or otherwise, all
as though such payment or performance had not been made. In the event that any payment, or any part thereof, is rescinded, reduced,
restored or returned on a Security, such Security shall, to the fullest extent permitted by law, be reinstated and deemed paid
only by such amount paid and not so rescinded, reduced, restored or returned.

 

No
Guarantor shall consolidate with or merge into any other Person or sell, convey or transfer all or substantially all its properties
and assets to any Person, and no Guarantor shall permit any Person to consolidate with or merge into such Guarantor, in each case
in a transaction in which the successor Person formed by such consolidation or merger or to which such sale, conveyance or transfer
is made is an Affiliate of the Company, and no Guarantor shall lease all or substantially all its properties and assets to any
Person (whether or not such an Affiliate), unless, in any such case:

 

(1) in
case such Guarantor shall consolidate with or merge into another Person or sell, convey, transfer or lease all or substantially
all its properties and assets to any Person, the Person formed by such consolidation or into which such Guarantor is merged or
the Person which acquires by sale, conveyance or transfer, or which leases, all or substantially all the properties and assets
of such Guarantor shall be a corporation, partnership or trust, shall be organized and validly existing under the laws of the
United States, any state thereof or the District of Columbia and shall expressly assume, by an indenture supplemental hereto,
executed and delivered to the Trustee, in form reasonably satisfactory to the Trustee, the performance or observance of every
covenant of this Indenture and any Guarantees on the part of such Guarantor to be performed or observed;

 

(2) immediately
after giving effect to such transaction no Event of Default, and no event which, after notice or lapse of time or both, would
become an Event of Default, shall have happened and be continuing; and

 

(3) such
Guarantor has delivered to the Trustee a Guarantor’s Officers’ Certificate and an Opinion of Counsel, each stating
that such consolidation, merger, sale, conveyance, transfer or lease and, if a supplemental indenture is required in connection
with such transaction, such supplemental indenture comply with this Article and that all conditions precedent herein provided
for relating to such transaction have been complied with.

 

Upon
any consolidation of any Guarantor with, or merger of such Guarantor into, any other Person or any sale, conveyance, transfer
or lease of all or substantially all the properties and assets of such Guarantor in accordance with this paragraph, the successor
Person formed by such consolidation or into which such Guarantor is merged or to which such sale, conveyance, transfer or lease
is made shall succeed to, and be substituted for, and may exercise every right and power of, such Guarantor under this Indenture
with the same effect as if such successor Person had been named as such Guarantor herein, and thereafter, except in the case of
a lease, the predecessor Person shall be relieved of all obligations and covenants under this Indenture and any Guarantees of
such Guarantor.

 

    	 	59	 

     

    

 

Upon
(i) a consolidation or merger of any Guarantor with or into, or a sale, conveyance or transfer of all or substantially all
the properties and assets of any Guarantor to, any other Person or any consolidation or merger of any Person with or into any
Guarantor, in each case in a transaction in which the successor Person formed by such consolidation or merger or to which such
sale, conveyance or transfer is made is not an Affiliate of the Company or (ii) any sale, conveyance or transfer (including
by way of merger) by the Company or any Subsidiary thereof of all or substantially all the Capital Stock of any Guarantor to any
Person that is not an Affiliate of the Company, such Guarantor shall be deemed to be automatically and unconditionally released
and discharged from all its obligations under its Guarantees and under this Article 17 without any further action required on
the part of the Trustee or any Holder. The Trustee shall deliver an appropriate instrument evidencing such release and discharge
upon receipt of a Company Request accompanied by an Officers’ Certificate certifying as to the compliance with this paragraph
of Article 17. The Company may, at its option, at any time and from time to time, cause any Guarantor to be automatically and
unconditionally released and discharged from all its obligations under its Guarantees with respect to Securities of all series
guaranteed by Guarantees of such Guarantor and under this Article 17 upon (i) any conditions for such release provided with
respect to Securities of such series in accordance with Section 3.1 having been satisfied and (ii) delivery by the Company
to the Trustee of a Company Order relating to such release and discharge. The Trustee shall deliver an appropriate instrument
evidencing such release and discharge upon receipt of a Company Request accompanied by an Officers’ Certificate certifying
as to the compliance with this paragraph of Article 17.

 

Anything
in this Indenture, the Securities or any Guarantee to the contrary notwithstanding, the obligations of any Guarantor under its
Guarantees and this Indenture shall be limited to the maximum amount as will, after giving effect to all other contingent and
fixed liabilities of such Guarantor, result in the obligations of such Guarantor under its Guarantees and this Indenture not constituting
a fraudulent advance or fraudulent transfer under Title 11 of the United States Code or any similar federal, state or foreign
law for the relief of debtors, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal,
state or other law affecting the rights of creditors generally.

 

No
Guarantee by any Guarantor of any Security, whether or not such Guarantee is or is to be endorsed thereon, shall be valid and
obligatory for any purpose with respect to such Security until the certificate of authentication on such Security shall have been
signed by or on behalf of the Trustee.

 

[Intentionally
left blank]

 

    	 	60	 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed, and their respective corporate seals to be
hereunto affixed, all as of the day and year first above written.

 

	[SEAL]	KITOV
    PHARMACEUTICALS HOLDINGS LTD.
	 	 	 
	Attest:	By:	      
	 	 	Name:
	 	 	Title:
	 	 	 
	[SEAL]	 	 
	 	 
	 	,
	 	as Trustee
	 	 	 
	 	By:	
	 	 	Name:
	 	 	Title:

 

    	 	61	 

     

    

 

EXHIBIT
A

 

[If
the Holder of this Security is a depository, such as The Depository Trust Company (“DTC”) or a nominee of DTC, this
Security is a Global Security and insert the following two legends:

 

THIS
SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY
(AS DEFINED IN THE INDENTURE) OR A NOMINEE THEREOF. THIS GLOBAL SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME
OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND, UNLESS
AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS GLOBAL SECURITY MAY NOT BE TRANSFERRED EXCEPT
AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY, OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE
OF THE DEPOSITORY, OR BY THE DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITORY.

 

UNLESS
THE SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF [THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),]
TO THE COMPANY (AS DEFINED BELOW) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED
IN THE NAME OF [CEDE & CO. OR IN] SUCH [OTHER] NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF [THE DEPOSITORY]
[DTC] (AND ANY PAYMENT IS MADE TO [CEDE & CO. OR TO] SUCH [OTHER] ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
OF [THE DEPOSITORY] [DTC]), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH
AS THE REGISTERED OWNER HEREOF[, CEDE & CO.,] HAS AN INTEREST HEREIN.]

 

[Insert
any applicable legend(s) required by the Internal Revenue Code]

 

	NO.	 	$

 

    	 	62	 

     

    

 

KITOV
PHARMACEUTICALS HOLDINGS LTD.

 

[Designation
of Series]

 

KITOV
PHARMACEUTICALS HOLDINGS LTD., an Israeli corporation (hereinafter called the “Company”, which term includes any successor
corporation under the Indenture referred to below), for value received, hereby promises to pay to             ,
or registered assigns, the principal sum of              Dollars ($        )
on                     ,    
[ If the Security is to bear interest prior to Maturity, insert — , and to pay interest thereon from             
or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semiannually on                     
and                      in
each year, commencing                     ,
[If the Security is to bear interest at a fixed rate, insert — at the rate of     % per annum]
[If the Security is to bear interest at an adjustable rate, insert — at a rate per annum computed or determined in
accordance with the provisions below], until the principal hereof is paid or made available for payment [If applicable, insert
— , and (to the extent that the payment of such interest shall be legally enforceable) at the rate of     %
per annum on any overdue principal and premium and on any overdue installment of interest from the dates such amounts are due
until they are paid or made available for payment and such interest shall be payable on demand]. [If applicable, insert
— Interest on this Security shall be computed on the basis of a 360-day year of twelve 30-day months. If any Interest Payment
Date or the maturity date falls on a day that is not a Business Day, the required payment shall be made on the next Business Day
as if it were made on the date such payment was due and no interest shall accrue on the amount so payable for the period from
and after such Interest Payment Date or the maturity date, as the case may be, to such next Business Day.] The interest so payable
and punctually paid or duly provided for on any Interest Payment Date will, as provided in such Indenture, be paid to the Person
in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the regular record
date for such interest, which shall be              or             
(whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest which is payable
but not punctually paid or duly provided for on any Interest Payment Date shall forthwith cease to be payable to the registered
Holder hereof on the relevant regular record date by virtue or having been such holder, and may be paid to the Person in whose
name this Security (or one or more Predecessor Securities) is registered at the close of business on a subsequent special record
date (which shall be at least 10 days before the payment date) for the payment of such defaulted interest to be fixed by
the Company, notice whereof shall be given to the Holders of Securities of this series not less than 10 days prior to such
Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities
exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, all as more fully provided
in such Indenture.

 

[If
the Security is not to bear interest prior to Maturity, insert — The principal of this Security shall not bear interest
except in the case of a default in payment of principal upon acceleration or redemption or at the Stated Maturity and in such
case the overdue principal of this Security shall bear interest at the rate of     % per annum (to the extent
that the payment of such interest shall be legally enforceable), which shall accrue from the date of such default in payment to
the date payment of such principal has been made or duly provided for. Interest on any overdue principal shall be payable on demand.
Any such interest on any overdue principal that is not so paid on demand shall bear interest at the rate of     %
per annum (to the extent that the payment of such interest shall be legally enforceable), which shall accrue from the date of
such demand for payment to the date payment of such interest has been made or duly provided for, and such interest shall also
be payable on demand.]

 

Payment
of the principal of and [If applicable, insert — any such] interest on this Security will be made at the office or
agency of the Company maintained for that purpose in The Borough of Manhattan, The City of New York, in such coin or currency
of the United States of America as at the time of payment is legal tender for payment of public and private debts [If applicable,
insert — ; provided, however, that, at the option of the Company, interest may be paid by check mailed to the address
of the Person entitled thereto as such address shall appear in the Security Register;] [If applicable, insert — provided,
further, that payment to [DTC or] any [successor] depository may be made by wire transfer to the account designated by [DTC or]
such [successor] depository in writing].

 

This
Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and
to be issued in one or more series under an Indenture, dated as of                     ,
20        (herein called, together with all indentures supplemental thereto, the “Indenture”),
between the Company and             , as Trustee (herein called the
“Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental
thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder
of the Company, the Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and are to be,
authenticated and delivered. This Security is one of the series designated on the face hereof [, initially limited (subject to
exceptions provided in the Indenture) to the aggregate principal amount of $        ].

 

    	 	63	 

     

    

 

[If
applicable, insert -- Subject to and upon compliance with the provisions of the Indenture, the Holder of this Security is entitled,
at his option, at any time on or before the close of business on                     ,
        , or in case this Security or a portion hereof is called for redemption, then
in respect of this Security or such portion hereof until and including, but (unless the Company defaults in making the payment
due upon redemption) not after, the close of business on the Business Day immediately preceding the Redemption Date, to convert
this Security (or any portion of the principal amount hereof which is $1,000 or an integral multiple thereof or in the case of
Bearer Securities $5,000 or an integral multiple of $5,000), at the principal amount hereof, or of such portion, into fully paid
and non-assessable shares (calculated as to each conversion to the nearest 1/100 of a share) of Common Stock of the Company at
a conversion price equal to $        aggregate principal amount of Securities for each
share of Common Stock (or at the current adjusted conversion price if an adjustment has been made as provided in the Indenture)
by surrender of this Security, duly endorsed or assigned to the Company or in blank, to the Company at its office or agency in
                    , accompanied
by written notice to the Company that the Holder hereof elects to convert this Security, or if less than the entire principal
amount hereof is to be converted, the portion hereof to be converted (in the case of Bearer Securities, any Bearer Security surrendered
for conversion must be accompanied by all Coupons maturing subsequent to the date of surrender of such Bearer Security for conversion
or the amount of any such missing Coupons will be deducted from the amount due on such Security used to determine the amount of
shares of Common Stock such Bearer Security may be converted into), and, in case such surrender shall be made during the period
from the close of business on any Regular Record Date next preceding any Interest Payment Date to the opening of business on such
Interest Payment Date (unless this Security or the portion thereof being converted has been called for redemption on a Redemption
Date such that the conversion right of this Security would terminate between such Regular Record Date and the close of business
on such Interest Payment Date), also accompanied by payment in funds reasonably acceptable to the Company of an amount equal to
the interest payable on such Interest Payment Date on the principal amount of this Security then being converted (with similar
provision to be made for Bearer Securities). In case surrender of this Security for conversion shall be made during the period
from the close of business on any Regular Record Date next preceding any Interest Payment Date to the opening of business on such
Interest Payment Date and if this Security or portion hereof has been called for redemption on a Redemption Date with the consequence
that the conversion right of this Security would terminate between such Regular Record Date and the close of business on such
Interest Payment Date, then the Holder of this Security will be entitled to receive the interest accruing hereon from the Interest
Payment Date next preceding the date of such conversion to such succeeding Interest Payment Date and shall not be required to
pay such interest upon surrender of this Security for conversion. Subject to the aforesaid requirement for payment and, in the
case of a conversion after the Regular Record Date next preceding any Interest Payment Date and on or before such Interest Payment
Date, to the right of the Holder of this Security (or any Predecessor Security) of record at such Regular Record Date to receive
an installment of interest (with certain exceptions provided in the Indenture), no payment or adjustment is to be made on conversion
for interest accrued hereon or for dividends on the Common Stock issued on conversion. No fractions of shares or scrip representing
fractions of shares will be issued on conversion, but instead of any fractional interest the Company shall pay a cash adjustment
as provided in the Indenture. The conversion price is subject to adjustment as provided in the Indenture. In addition, the Indenture
provides that in case of certain consolidations or mergers to which the Company is a party or the transfer of substantially all
of the assets of the Company, the Indenture shall be amended, without the consent of any Holders of Securities, so that this Security,
if then outstanding, will be convertible thereafter, during the period this Security shall be convertible as specified above,
only into the kind and amount of securities, cash and other property receivable upon the consolidation, merger or transfer or
conveyance by a holder of the number of shares of Common Stock into which this Security might have been converted immediately
prior to such consolidation, merger or transfer or conveyance (assuming such holder of Common Stock failed to exercise any rights
of election and received per share the kind and amount received per share by a plurality of nonelecting shares).]

 

[If
applicable, insert — The indebtedness evidenced by the Securities is, to the extent provided in the Indenture, subordinate
and subject in right of payment to the prior payment in full of all indebtedness and obligations of the Company as are defined
in the Indenture as “Senior Indebtedness,” and this Security is issued subject to the provisions of the Indenture
with respect thereto, and each Holder of this Security, by accepting the same, agrees to and shall be bound by such provisions.
Each Holder of this Security, by accepting the same, agrees that each holder of Senior Indebtedness, whether created or acquired
before or after the issuance of this Security, shall be deemed conclusively to have relied on such subordination provisions in
acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness.]

 

[If
the Security is not an Original Issue Discount Security, insert — If an Event of Default with respect to the Securities
shall occur and be continuing, the principal of the Securities may be declared due and payable in the manner and with the effect
provided in the Indenture.]

 

    	 	64	 

     

    

 

[If
the Security is an Original Issue Discount Security, insert — If an Event of Default with respect to Securities of this
series shall occur and be continuing, an amount of principal of the Securities of this series may be declared due and payable
in the manner and with the effect provided in the Indenture. Such amount shall be equal to [insert formula for determining
the amount]. Upon payment (i) of the amount of principal so declared due and payable and (ii) of interest on any
overdue principal, premium and interest (in each case to the extent that the payment of such interest shall be legally enforceable),
all of the Company’s obligations in respect of the payment of the principal of and premium and interest, if any, on the
Securities of this series shall terminate.]

 

[If
applicable, insert — The Securities may not be redeemed prior to the Stated Maturity.]

 

[If
applicable, insert — The Securities are not subject to any sinking fund.]

 

[If
applicable, insert — The Securities are subject to redemption [(l) [If applicable, insert — on                     
in any year commencing with the year          and ending with the year         
through operation of the sinking fund for this series at a Redemption Price equal to 100% of the principal amount, and (2)] [If
applicable, insert — at any time [on or after                    ],
as a whole or in part, at the election of the Company, at the following Redemption Prices (expressed as percentages of the principal
amount): if redeemed on or before                     ,
    % and if redeemed during the 12-month period beginning                     
of the years indicated at the Redemption Prices indicated below:

 

	Year
	 	Redemption
        Price

	 	 	 

 

and
thereafter at a Redemption Price equal to     % of the principal amount, together in the case of any such
redemption [If applicable, insert — (whether through operation of the sinking fund or otherwise)] with accrued interest
to the Redemption Date; provided, however, that installments of interest on this Security whose Stated Maturity is on or prior
to such Redemption Date will be payable to the Holder of this Security, or one or more Predecessor Securities, of record at the
close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.]

 

[If
applicable, insert — The Securities are subject to redemption (1) on                     
in any year commencing with the year          and ending with the year         
through operation of the sinking fund for this series at the Redemption Prices for redemption through operation of the sinking
fund (expressed as percentages of the principal amount) set forth in the table below, and (2) at any time [on or after                    ],
as a whole or in part, at the election of the Company, at the Redemption Prices for redemption otherwise than through operation
of the sinking fund (expressed as percentages of the principal amount) set forth in the table below: if redeemed during the 12-month
period beginning                     
of the years indicated below:

 

	Year
	 	Redemption Price

    for Redemption

    through Operation

    of the Sinking Fund	 	Redemption Price

    for Redemption

    Otherwise than

    through Operation

    of the Sinking Fund
	 	 	 	 	 

 

and
thereafter at a Redemption Price equal to     % of the principal amount, together in the case of any such
redemption (whether through operation of the sinking fund or otherwise) with accrued interest to the Redemption Date; provided,
however, that installments of interest on this Security whose Stated Maturity is on or prior to such Redemption Date will be payable
to the Holder of this Security, or one or more Predecessor Securities, of record at the close of business on the relevant Record
Dates referred to on the face hereof, all as provided in the Indenture.]

 

[If
applicable, insert — Notwithstanding the foregoing, the Company may not, prior to             ,
redeem any Securities as contemplated by [Clause (2) of] the preceding paragraph as a part of, or in anticipation of, any
refunding operation by the application, directly or indirectly, of moneys borrowed having an interest cost to the Company (calculated
in accordance with generally accepted financial practice) of less than     % per annum.]

 

[If
applicable, insert — The sinking fund for the Securities provides for the redemption on             
in each year, beginning with the year              and ending with
the year             , of [not less than] $        [(“mandatory
sinking fund”) and not more than $        ] aggregate principal amount of
the Securities of this series. [The Securities acquired or redeemed by the Company otherwise than through [mandatory] sinking
fund payments may be credited against subsequent [mandatory] sinking fund payments otherwise required to be made in the [describe
order].]]

 

    	 	65	 

     

    

 

[If
applicable, insert — Notice of redemption will be given by mail to Holders of Securities, not less than 30 nor more
than 60 days prior to the Redemption Date, all as provided in the Indenture.]

 

[If
applicable, insert -- In the event of [If applicable, insert — redemption or] conversion of this Security in part
only, a new Security or Securities for the [If applicable, insert — unredeemed or] unconverted portion hereof shall
be issued in the name of the Holder hereof upon the cancellation hereof.]

 

The
Indenture contains provisions permitting, with certain exceptions as therein provided, the amendment thereof and the modification
of the rights and obligations of the Company and the rights of the Holders of the Securities of each series issued under the Indenture
at any time by the Company and the Trustee with the written consent of the Holders of not less than a majority in aggregate principal
amount of the Securities at the time Outstanding of each series affected thereby. The Indenture also contains provisions permitting
the Holders of specified percentages in aggregate principal amount of the Securities of any series at the time Outstanding, on
behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture
and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security
shall be conclusive and binding upon such Holder and upon all future Holders of this Securities and of any Securities issued upon
the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver
is made upon this Security.

 

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

 

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

 

[If
applicable, insert — The Securities are issuable only in registered form [without coupons] in the denominations of $        
or any integral multiple thereof.] As provided in the Indenture and subject to certain limitations set forth in the Indenture,
and in this Security, the Securities are exchangeable for a like aggregate principal amount of Securities of this series in different
authorized denominations, as requested by the Holders surrendering the same.]

 

No
service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient
to cover any tax or other governmental charge payable in connection therewith, other than in certain cases provided in the Indenture.

 

Prior
to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the
Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this
Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

 

[If
applicable, insert — The Indenture contains provisions whereby (i) the Company may be discharged from its obligations
with respect to the Securities (subject to certain exceptions) or (ii) the

 

Company
may be released from its obligations under specified covenants and agreements in the Indenture, in each case if the Company irrevocably
deposits with the Trustee money or Government Obligations, or a combination thereof, in an amount sufficient, without consideration
of any reinvestment, to pay and discharge the entire indebtedness on all Securities of this series, and satisfies certain other
conditions, all as more fully provided in the Indenture.]

 

This
Security shall be governed by and construed in accordance with the laws of the State of New York applicable to agreements made
or instruments entered into, and in each case, performed in said State.

 

All
terms used in this Security without definition that are defined in the Indenture shall have the meanings assigned to them in the
Indenture.

 

[Remainder
of Page Intentionally Left Blank]

 

    	 	66	 

     

    

 

Unless
the Certificate of Authentication hereon has been executed by or on behalf of the Trustee under the Indenture by the manual signature
of one of its authorized officers, this Security shall not be entitled to any benefits under the Indenture or be valid or obligatory
for any purpose.

 

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

 

	[SEAL]	KITOV
    PHARMACEUTICALS HOLDINGS LTD.
	 	 	 
	 	By:	      
	 	 	Name:
	 	 	Title:
	Attest:	 	 
	 	 	 
	 	By:	       
	 	 	Name:
	 	 	Title:

 

    	 	67	 

     

    

 

CERTIFICATE
OF AUTHENTICATION

 

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

 

	 	as
    Trustee
	 	 	 
	Dated:	By:	
	 	 	Name:
	 	 	Title:    Authorized
    Officer

 

 

69EX-10.1

 Exhibit 10.1 

Execution Version 

SEPARATION AND CONSULTING AGREEMENT AND 

GENERAL RELEASE OF CLAIMS 

This SEPARATION AND CONSULTING AGREEMENT AND GENERAL RELEASE OF CLAIMS (this “Agreement”) is entered into by and
among Marc Carroll (“Carroll”) and Black Stone Natural Resources Management Company, a Delaware corporation (the “Company”). Black Stone Minerals GP, L.L.C., a Delaware limited liability company (the
“General Partner”), joins this Agreement for the limited purpose of agreeing to Sections 2 and 3 below. The Company, the General Partner, and Carroll are each referred to herein individually as a “Party” and
collectively as the “Parties.”
 WHEREAS, Carroll was employed by the Company as Senior Vice President and Chief
Financial Officer; 
 WHEREAS, Carroll’s employment with the Company ended as of November 11, 2016 (the “Separation
Date”), and the Company and the General Partner wish to provide Carroll with certain compensation and benefits, the receipt of which is dependent upon Carroll’s timely entry into (and non-revocation of) this Agreement and compliance
with his continuing obligations under Articles III and V of the Severance Agreement between Carroll and the Company dated May 6, 2015 (the “Severance Agreement”); 

WHEREAS, the General Partner wishes to have the right to receive certain consulting services from Carroll after the Separation Date,
and Carroll wishes to make himself available to provide such services in the capacity of an independent contractor; and 
 WHEREAS,
for the purposes of avoiding the uncertainty, expense, and burden associated with any dispute, the Parties desire to settle any potential disputes, including those that may arise by virtue of either the employment relationship between Carroll and
the Company or the end of such employment relationship. 
 NOW, THEREFORE, in consideration of the promises and benefits set forth
herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the Parties, the Parties hereby agree as follows: 

1.    Separation from Employment. Carroll’s employment with the
Company ended as of the Separation Date. As of the Separation Date, Carroll was no longer employed by the Company or any other Released Party (as defined below). As of the Separation Date, Carroll is deemed to have automatically resigned
(a) as an officer of the Company and each of its Affiliates (as defined in the Severance Agreement), as applicable, and (b) from the board of managers, board of directors, or similar governing body of each of the Company’s Affiliates (as
applicable) and any other corporation, limited liability company, or other entity in which the Company or any of its Affiliates holds an equity interest or with respect to which board (or similar governing body) Carroll serves as the designee or
other representative of the Company or any of its Affiliates. 
 2.    Separation
Benefits. Provided that Carroll (x) executes this Agreement on or after the Separation Date and prior to November 21, 2016, returns a copy of this Agreement that 

 
has been executed by him to the Company so that it is received by Steve Putman, Senior Vice President and General Counsel, 1001 Fannin Street, Suite 2020, Houston, Texas 77002 (email:
sputman@blackstoneminerals.com) no later than 5:00 pm central standard time on November 21, 2016; (y) does not revoke his acceptance of this Agreement pursuant to Section 9 below; and (z) satisfies the other terms and conditions set
forth in this Agreement, Carroll shall receive the following consideration: 
 (a)    The Company shall pay Carroll a
lump sum cash severance payment equal to $531,093.80, less applicable taxes and withholdings, which payment shall be paid on the Company’s first regularly scheduled pay date following the expiration of the Release Revocation Period (as defined
below) (the “Initial Payment Date”); 
 (b)    The Company shall pay Carroll a lump sum cash payment
equal to $31,200, less applicable taxes and withholdings, which payment represents the cost of COBRA continuation coverage for Carroll for 12 months following the Separation Date and shall be paid on the Initial Payment Date; 

(c)    Pursuant to the terms of Carroll’s STI Award Grant Notice and STI Award Agreement dated February 9, 2016 (the
“STI Award Agreement”), a pro-rated portion of the Target Amount (as defined in the STI Award Agreement) will be deemed to have become earned for the Performance Period (as defined in the STI Award Agreement, the “2016 STI
Performance Period”), which pro-rated portion shall be equal to $333,484 (the “Target STI Value”) and shall be settled by issuing to Carroll a number of common units (“Common Units”) in Black Stone
Minerals, L.P., a Delaware limited partnership (the “Partnership”) (rounded to the nearest whole Common Unit) equal to the number of Common Units that, as of the Separation Date, have a Fair Market Value (as defined in the Black
Stone Minerals, L.P. Long-Term Incentive Plan) equal to the Target STI Value on or before December 31, 2016, but in no event prior to the expiration of the Release Revocation Period; provided, however, that if the dollar value of the STI Award (as
defined in the STI Award Agreement) that would have become earned based on actual performance for the 2016 STI Performance Period multiplied by a fraction, the numerator of which is the number of days Carroll was employed by the Company in the 2016
STI Performance Period and the denominator of which is the total number of days in the 2016 STI Performance Period (the “Actual STI Value”) exceeds the Target STI Value, then a number of Common Units (rounded to the nearest whole
Common Unit) that, as of the date on which short-term incentive bonuses are paid to senior executives of the Company for the 2016 STI Performance Period (the “STI Payment Date”), have a Fair Market Value equal to the difference
between the Actual STI Value and the Target STI Value shall be issued to Carroll on the STI Payment Date. 

(d)    Pursuant to the terms of Carroll’s Converted Restricted Unit Grant Notice and Converted Restricted Unit
Agreement dated May 6, 2015 and Restricted Unit Award Grant Notice and Restricted Unit Award Agreement dated February 19, 2016 (collectively, the “Restricted Unit LTIP Award Agreements”), the Forfeiture Restrictions (as defined in
the Restricted Unit LTIP Award Agreements) on the Applicable Restricted Units (as defined in the Restricted Unit LTIP Award Agreements), which consist of 40,115 Common Units and 17,149 subordinated units in the Partnership shall automatically lapse
and the Applicable Restricted Units shall immediately thereafter become Earned Units (as defined in the Restricted Unit LTIP Award Agreements). 

  
 2 

 (e)    Pursuant to the terms of Carroll’s time-based IPO Award Grant
Notice and IPO Award Agreement dated May 6, 2015 (the “Restricted Unit IPO Agreement”), the Forfeiture Restrictions (as defined in the Restricted Unit IPO Agreement) on the Applicable Restricted Units (as defined in the Restricted
Unit IPO Agreement), which consist of 26,359 Common Units, shall automatically lapse and the Applicable Restricted Units shall immediately thereafter become Earned Units (as defined in the Restricted Unit IPO Agreement). 

(f)    Pursuant to the terms of Carroll’s performance-based IPO Award Grant Notice and IPO Award Agreement dated May
6, 2015 (the “Performance IPO Award Agreement”), (i) all unearned Performance Units (as defined in the Performance IPO Award Agreement) that would have become earned in the performance period that includes the Separation Date
(assuming target (100%) levels of performance for such performance period) shall become earned as of the Separation Date (the “Target IPO Units”) and settled through the issuance to Carroll of 27,635 Common Units on or before
December 31, 2016 (the “Target Performance IPO Settlement”); provided, however, that if the ultimate number of Performance Units that would have become earned based on actual performance for 2016 (the “Actual IPO
Units”) exceeds the Target IPO Units, then a number of Common Units equal to the difference between the Actual IPO Units and the Target IPO Units shall be issued to Carroll on the date performance-based IPO awards held by senior executives
of the Company are settled (the “Actual Performance IPO True Up”) and (ii) with respect to each unearned Performance Unit that becomes earned pursuant to the foregoing clause (i), Carroll shall be entitled to receive a Termination
DER True Up Payment (as defined in the Performance IPO Award Agreement), which Termination DER True Up Payment shall be (A) increased by the amount of any cash distributions that would have been paid to Carroll by the Partnership in respect of the
Common Units issuable to Carroll pursuant to the Target Performance IPO Settlement and the Actual Performance IPO True Up as if Carroll had held such Common Units during the period beginning on the Separation Date and ending on the date such Common
Units are actually issued to Carroll hereunder and (B) paid to Carroll within 30 days following the issuance of the Common Units pursuant to the Target Performance IPO Settlement or Actual Performance IPO True Up, as applicable. 

(g)    Pursuant to the terms of Carroll’s LTI Award Grant Notice and LTI Award Agreement dated February 19, 2016 (the
“2016 LTI Agreement”), Carroll’s Notice of Award of Target Incentive Bonus Under the Black Stone Minerals Company, L.P. Second Amended and Restated 2012 Executive Incentive Plan dated March 24, 2015 (the “2015 LTI
Agreement”) and Carroll’s Notice of Award of Target Incentive Bonus Under the Black Stone Minerals Company, L.P. 2012 Executive Incentive Plan dated March 25, 2014 (the “2014 LTI Agreement” and, together with the 2015
LTI Agreement, the “2014/2015 LTI Agreements”), all unearned portions of the awards that would have become earned in the performance period (the “2016 LTI Performance Period”) that includes the Separation Date
(assuming target (100%) levels of performance for such performance period) shall become earned as of the Separation Date and settled through the issuance to Carroll of a number of Common Units (rounded to the nearest whole Common Unit) equal to the
sum of (i) 30,754 (the “2016 Target LTI Units”) and (ii) the number of Common Units that, as of the Separation Date, have a Fair Market Value equal 

  
 3 

 
to $2,110,480 (the “2014/2015 Target LTI Value”), which Common Units shall be issued to Carroll on or before December 31, 2016, but in no event prior to the expiration of the
Release Revocation Period; provided, however, that (A) if the number of Common Units that would have become earned in the 2016 Performance Period pursuant to the 2016 LTI Agreement based on actual performance for the 2016 LTI Performance Period and
assuming target (100%) reserve and production levels for the 2017 and 2018 performance periods (the “2016 Actual LTI Units”) exceeds the 2016 Target LTI Units, then a number of Common Units equal to the difference between the 2016
Actual LTI Units and the 2016 Target LTI Units shall be issued to Carroll on the date performance-based LTI awards held by senior executives of the Company for the 2016 LTI Performance Period are settled (the “LTI Settlement Date”);
and (B) if the dollar value of the LTI awards that would have become earned in the 2016 Performance Period pursuant to the 2014/2015 LTI Agreements based on actual performance for the 2016 LTI Performance Period and assuming target (100%) reserve
and production levels for the 2017 performance period (the “2014/2015 Actual LTI Value”) exceeds the 2014/2015 Target LTI Value, then a number of Common Units (rounded to the nearest whole Common Unit) that, as of the LTI
Settlement Date, have a Fair Market Value equal to the difference between the 2014/2015 Actual LTI Value and the 2014/2015 Target LTI Value shall be issued to Carroll on the LTI Settlement Date. 

Carroll acknowledges and agrees that the consideration described in this Section 2 represents the entirety of the amounts Carroll is eligible to receive as
separation pay and benefits from the Company and any other Released Party and that Carroll was not entitled to such pay or benefits but for his timely entry into (and non-revocation of his acceptance of) this Agreement. 

3.    Consulting Services. 

(a)    During the Consulting Period (as defined below), Carroll agrees to provide, if and when reasonably requested by the
Chief Executive Officer of the Company (the “CEO”), the Chief Financial Officer of the Company (the “CFO”), or the board of directors of the General Partner (the “Board”) from time to time,
consultation services to the General Partner and its Affiliates (the “Services”). In providing the Services, Carroll shall act as an independent contractor to the General Partner and shall provide the General Partner with
such of his assessments and evaluations as the General Partner, CEO, or CFO may deem necessary from time to time. Carroll agrees to attend such meetings, if any, as the General Partner, CEO, or CFO may reasonably require for communication of
his advice and consultation. Carroll shall coordinate the furnishing of the Services with representatives of the General Partner, CEO, or CFO in order that such services can be provided in such a way as to generally conform to the business
schedules of the General Partner or its applicable Affiliate, but the method of performance, time of performance, place of performance, hours utilized in such performance, and other details of the manner of performance of Carroll’s provision of
the Services shall be within the sole control of Carroll. Notwithstanding any provision of this Agreement, in no event shall Carroll be obligated to make himself available to provide the Services for more than 20 hours in any single calendar
week. During the Consulting Period, (i) Carroll shall have the right to devote his business day and working efforts to other business and professional opportunities as do not interfere with his rendering of the Services to the General Partner
or its Affiliates or his other obligations to the General Partner or any of the other Released Parties and (ii) Carroll shall not be deemed to be an agent of the General Partner or any of its Affiliates or have any power to bind or commit the
General Partner or any of its Affiliates or otherwise act on their behalf. 

  
 4 

 (b)    In exchange for providing the Consulting Services, and for being
available to do so, the General Partner shall pay Carroll a consulting fee at the rate of $32,187.50 per complete calendar month during the Consulting Period, which amount shall be pro-rated for partial calendar months and paid to Carroll within 30
days following the completion of each calendar month during the Consulting Period. Carroll acknowledges and agrees that he is responsible for all federal, state and local taxes related to any compensation that he receives from the General
Partner in connection with the consulting arrangements described herein (which includes all compensation described in this Section 3(b)). 

(c)    As of the Separation Date, Carroll shall no longer be an employee of the Company or any other Released Party and
nothing in this Agreement or elsewhere shall change that status. During the Consulting Period, Carroll shall be an independent contractor and shall not participate in any pension or welfare benefit plans, programs or arrangements of the Company
or any other Released Party unless such benefits are made available due to Carroll’s former employment status with the Company.

(d)    Unless earlier terminated as provided hereunder, the “Consulting Period” shall be that period
between the Separation Date and June 30, 2017; provided, however, that the Consulting Period, and Carroll’s and the General Partner’s respective obligations under this Section 3, shall be terminated prior to June 30, 2017 upon any of
the following: (i) the death or disability of Carroll; (ii) the termination of the Consulting Period by the General Partner for Consulting Period Cause; or (iii) the termination of the Consulting Period by mutual agreement of the
Parties, as evidenced by a writing signed by Carroll and the General Partner. For the avoidance of doubt, upon the termination of the Consulting Period, the General Partner shall have no further obligations to Carroll pursuant to Section 3(b)
above and the only payments owed to Carroll by the General Partner following the termination of the Consulting Period shall be to provide payment for those Services performed prior to the date that the Consulting Period terminated. As used
herein, “Consulting Period Cause” shall exist in the event that: (A) Carroll breaches any of his obligations or covenants under this Agreement; or (B) during the Consulting Period, Carroll engages in any act or omission that
would give rise to Cause pursuant to clauses (b), (c), (d), or (e) of the definition of Cause in Section 1.4 of the Severance Agreement. 

4.    Release of Liability for Claims.

(a)    For good and valuable consideration, including the consideration set forth in Section 2 above (and any portion
thereof), Carroll hereby forever releases, discharges and acquits the Company, the Partnership, the General Partner, each of the foregoing entities’ respective Affiliates, predecessors, successors, subsidiaries and benefit plans, and the
foregoing entities’ respective equityholders, officers, directors, managers, members, partners, employees, agents, representatives, and other affiliated persons, and the Company’s and its Affiliates’ benefit plans (and the fiduciaries
and trustees of such plans) (collectively, the “Released Parties”), from liability for, and Carroll hereby waives, any and all claims, damages, or causes of action of any kind related to Carroll’s ownership of any interest in
the Partnership or any other Released Party, his employment with any Released Party, the termination of such employment, and any other acts or omissions related to any matter occurring on or prior to the date that Carroll executes this Agreement,
including (i) any alleged violation through such date of: (A) any federal, state or local anti-discrimination law or anti-retaliation law, regulation or ordinance 

  
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including the Age Discrimination in Employment Act of 1967, as amended (including as amended by the Older Workers Benefit Protection Act), Title VII of the Civil Rights Act of 1964, as
amended, the Civil Rights Act of 1991, Sections 1981 through 1988 of Title 42 of the United States Code, as amended and the Americans with Disabilities Act of 1990, as amended; (B) the Employee Retirement Income Security Act of 1974, as
amended (“ERISA”); (C) the Immigration Reform Control Act, as amended; (D) the National Labor Relations Act, as amended; (E) the Occupational Safety and Health Act, as amended; (ix) the Family and Medical Leave
Act of 1993; (F) any federal, state or local wage and hour law; (G) any other local, state or federal law, regulation or ordinance; or (H) any public policy, contract, tort, or common law claim; (ii) any allegation for costs,
fees, or other expenses including attorneys’ fees incurred in or with respect to a Released Claim; (iii) any and all rights, benefits or claims Carroll may have under any employment contract (including the Employment Agreement), incentive
compensation plan or equity-based plan with any Released Party (including any award agreement) or to any ownership interest in any Released Party; and (iv) any claim for compensation or benefits of any kind not expressly set forth in this
Agreement (collectively, the “Released Claims”). This Agreement is not intended to indicate that any such claims exist or that, if they do exist, they are meritorious. Rather, Carroll is simply agreeing that, in exchange for
any consideration received by him pursuant to Section 2, any and all potential claims of this nature that Carroll may have against the Released Parties, regardless of whether they actually exist, are expressly settled, compromised and waived.
THIS RELEASE INCLUDES MATTERS ATTRIBUTABLE TO THE SOLE OR PARTIAL NEGLIGENCE (WHETHER GROSS OR SIMPLE) OR OTHER FAULT, INCLUDING STRICT LIABILITY, OF ANY OF THE RELEASED PARTIES. 

(b)    In no event shall the Released Claims include any claim that arises after the date that Carroll signs this
Agreement or any claim to vested benefits under an employee benefit plan that is subject to ERISA. Further notwithstanding this release of liability, nothing in this Agreement prevents Carroll from filing any non-legally waivable claim
(including a challenge to the validity of this Agreement) with the Equal Employment Opportunity Commission (“EEOC”) or comparable state or local agency or participating in (or cooperating with) any investigation or proceeding
conducted by the EEOC or comparable state or local agency or cooperating in any such investigation or proceeding; however, Carroll understands and agrees that Carroll is waiving any and all rights to recover any monetary or personal relief from a
Released Party as a result of such EEOC or comparable state or local agency or proceeding or subsequent legal actions. Further, nothing in this Release or the Separation Agreement prohibits or restricts Carroll from filing a charge or complaint
with, or cooperating in any investigation with, the Securities and Exchange Commission, the Financial Industry Regulatory Authority, or any other securities regulatory agency or authority (each, a “Government Agency”). This Release
does not limit Executive’s right to receive an award for information provided to a Government Agency. 

5.    Representations and Warranties Regarding Claims. Carroll represents and warrants
that, as of the time at which he signs this Agreement, he has not filed or joined any claims, complaints, charges, or lawsuits against any of the Released Parties with any governmental agency or with any state or federal court or arbitrator for, or
with respect to, a matter, claim, or incident that occurred or arose out of one or more occurrences that took place on or prior to the time at which Carroll signs this Agreement. Carroll further represents and

  
 6 

 
warrants that he has not made any assignment, sale, delivery, transfer or conveyance of any rights Carroll has asserted or may have against any of the Released Parties with respect to any
Released Claim. 
 6.    Affirmation of Restrictive Covenants. Carroll
acknowledges and agrees that in connection with his employment with the Company, he has obtained Confidential Information (as defined in the Severance Agreement) and that he has continuing obligations to the Company and each of its Affiliates
pursuant to pursuant to Articles III and IV and Section 5.2(b) of the Severance Agreement. In entering into this Agreement, Carroll acknowledges the validity, binding effect and enforceability of Articles III and IV and Section 5.2(b) of the
Severance Agreement and expressly reaffirms his commitment to abide by such provisions of the Severance Agreement. 

7.    Covenant to Cooperate in Legal Proceedings. Carroll agrees to cooperate in good
faith with and provide reasonable assistance to the Company, upon its reasonable request, with respect to the defense or prosecution of any litigation, investigation or other legal proceeding involving the Company or any of its Affiliates. 

8.    Carroll’s Acknowledgments. By executing and delivering this Agreement, Carroll
expressly acknowledges that: 
 (a)    He has carefully read this Agreement; 

(b)    He has had at least 21 days to consider this Agreement before the execution and delivery hereof to the Company;

 (c)    He is receiving, pursuant to this Agreement, consideration in addition to anything of value to which he is
already entitled; 
 (d)    He has been advised, and hereby is advised in writing, to discuss this Agreement with an
attorney of his choice and that he has had an adequate opportunity to do so prior to executing this Agreement; 

(e)    He fully understands the final and binding effect of this Agreement; the only promises made to him to sign this
Agreement are those stated herein; and he is signing this Agreement knowingly, voluntarily and of his own free will, and that he understands and agrees to each of the terms of this Agreement; 

(f)    The only matters relied upon by him and causing him to sign this Agreement are the provisions set forth in writing
within the four corners of this Agreement; and 
 (g)    No Released Party has provided any tax or legal advice
regarding this Agreement and he has had an adequate opportunity to receive sufficient tax and legal advice from advisors of his own choosing such that he enters into this Agreement with full understanding of the tax and legal implications thereof.

 9.    Revocation Rights. Notwithstanding the initial effectiveness of this
Agreement, Carroll may revoke the delivery (and therefore the effectiveness) of this Agreement within the 

  
 7 

 
seven-day period beginning on the date Carroll executes this Agreement (such seven-day period being referred to herein as the “Release Revocation Period”). To be effective,
such revocation must be in writing signed by Carroll and must be delivered personally or by courier to the Company to the Company so that it is received by Steve Putman, Senior Vice President and General Counsel, 1001 Fannin Street, Suite 2020,
Houston, Texas 77002 (email: sputman@blackstoneminerals.com) by 11:59 p.m., Houston, Texas time, on the last day of the Release Revocation Period. If an effective revocation is delivered in the foregoing manner and timeframe, the release of
claims set forth in Section 4 above will be of no force or effect, Carroll will not receive the payments, benefits or consideration set forth in Section 2 above, the provisions of Section 3 above will be null and void, and the remainder of this
Agreement will be in full force and effect. 
 10.    Governing
Law. This Agreement is entered into under, and shall be governed for all purposes by, the laws of the State of Texas (other than Section 2 above, which shall be construed under and governed for all purposes
by the laws of the State of Delaware) without regard to the principles of conflicts of law thereof. 

11.    Counterparts. This Agreement may be executed in one or more
counterparts (including portable document format (.pdf) and facsimile counterparts), each of which shall be deemed to be an original, but all of which together will constitute one and the same Agreement.

12.    Amendment; Entire Agreement. This Agreement may not be
changed orally but only by an agreement in writing agreed to and signed by the Party to be charged. This Agreement and, with respect to the covenants referenced in Section 6, the Severance Agreement, constitute the entire agreement of the
Parties with regard to the subject matter hereof and supersede all prior and contemporaneous agreements and understandings, oral or written, between Carroll and any Released Party with regard to the subject matter hereof. 

13.    Third-Party Beneficiaries. Carroll expressly acknowledges and agrees that each
Released Party that is not a party to this Agreement shall be a third-party beneficiary of Sections 3, 4, 6, 7 and 15 (to the extent such Sections reference such Released Party), and entitled to enforce such provisions as if it were a party hereto.

 14.    Further Assurances. Carroll shall, and shall cause his Affiliates, representatives
and agents to, from time to time at the request of the Company and without any additional consideration, furnish the Company with such further information or assurances, execute and deliver such additional documents, instruments and conveyances, and
take such other actions and do such other things, as may be reasonably necessary or desirable, as determined in the sole discretion of the Company, to carry out the provisions of this Agreement. 

15.    Return of Property. Carroll represents and warrants that, except as previously approved
by the Company, he has returned to the Company all property belonging to the Company or any other Released Party, including all computer files, electronically stored information, cellular telephones, computers and other materials and items provided
to him by the Company or any other Released Party in the course of his employment and Carroll further represents and warrants that he has not maintained a copy of any such materials or items in any form. 

  
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 16.    Severability. Any term or provision of this
Agreement (or part thereof) that renders such term or provision (or part thereof) or any other term or provision (or part thereof) hereof invalid or unenforceable in any respect shall be severable and shall be modified or severed to the extent
necessary to avoid rendering such term or provision (or part thereof) invalid or unenforceable, and such modification or severance shall be accomplished in the manner that most nearly preserves the benefit of the Parties’ bargain hereunder.

 17.    Headings; References; Interpretation. The Section headings have been inserted for
purposes of convenience and shall not be used for interpretive purposes. The words “hereof,” “herein” and “hereunder” and words of similar import, when used in this Agreement, shall refer to this Agreement as a
whole and not to any particular provision of this Agreement. The use herein of the word “including” following any general statement, term or matter shall not be construed to limit such statement, term or matter to the specific items
or matters set forth immediately following such word or to similar items or matters, whether or not non-limiting language (such as “without limitation”, “but not limited to”, or words of similar import) is used with reference
thereto, but rather shall be deemed to refer to all other items or matters that could reasonably fall within the broadest possible scope of such general statement, term or matter. The word “or” as used herein is not exclusive and is deemed
to have the meaning “and/or.” References herein to any agreement, instrument or other document mean such agreement, instrument or other document as amended, supplemented and modified from time to time to the extent permitted by the
provisions thereof and not prohibited by this Agreement. Neither this Agreement nor any uncertainty or ambiguity herein shall be construed or resolved against any Party, whether under any rule of construction or otherwise. On the contrary,
this Agreement has been reviewed by each of the Parties and shall be construed and interpreted according to the ordinary meaning of the words used so as to fairly accomplish the purposes and intentions of the Parties. 

18.    Withholdings; Deductions. The Company may withhold and deduct from any benefits and
payments and issuances of Common Units made or to be made pursuant to this Agreement (a) all federal, state, local and other taxes as may be required pursuant to any law or governmental regulation or ruling and (b) any deductions consented to in
writing by Carroll. 
 19.    Section 409A. This Agreement and the benefits provided
hereunder are intended be exempt from, or compliant with, the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”) and shall be construed and administered in accordance with such
intent. Each installment payment under this Agreement shall be deemed and treated as a separate payment for purposes of Section 409A. Notwithstanding the foregoing, the Company makes no representations that the benefits provided under this
Agreement are exempt from the requirements of Section 409A and in no event shall the Company or any of its Affiliates be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by Carroll on account of
non-compliance with Section 409A. 
 [Remainder of Page Intentionally Blank; 

Signature Page Follows] 

  
 9 

 IN WITNESS WHEREOF, Carroll has executed this Agreement and the Company, the Partnership
and the General Partner have caused this Agreement to be executed by their duly authorized officer as of the dates set forth below, effective for all purposes as provided above. 

 

			
	MARC CARROLL
	
	 /s/ Marc Carroll

		
	Date:	 	    11/21/16
	
	BLACK STONE NATURAL RESOURCES MANAGEMENT COMPANY
		
	By:	 	 /s/ Steve Putman

		 	Name: Steve Putman
		 	Title: Authorized Person
		
	Date:	 	    11/21/16
	
	For the limited purpose of agreeing to Sections 2 and 3:
	
	BLACK STONE MINERALS GP, L.L.C.
		
	By:	 	 /s/ Steve Putman

		 	Name: Steve Putman
		 	Title: Authorized Person
		
	Date:	 	    11/21/16

 SIGNATURE PAGE TO 

SEPARATION AND CONSULTING AGREEMENT AND 

GENERAL RELEASE OF CLAIMS

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