Document:

EXHIBIT 4.3

 

VERB
TECHNOLOGY COMPANY, INC.,

Issuer

AND

[TRUSTEE],

Trustee

INDENTURE

Dated
as of [•], 20

Debt
Securities

 

    	 

     

    

 

	ARTICLE
    1   DEFINITIONS	2
	Section
    1.01   Definitions of Terms	2
	ARTICLE
    2   ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES	6
	Section
    2.01   Designation and Terms of Securities	6
	Section
    2.02   Form of Securities and Trustee’s Certificate	8
	Section
    2.03   Denominations:  Provisions for Payment	9
	Section
    2.04   Execution and Authentications	10
	Section
    2.05   Registration of Transfer and Exchange	11
	Section
    2.06   Temporary Securities	12
	Section
    2.07   Mutilated, Destroyed, Lost or Stolen Securities	12
	Section
    2.08   Cancellation	13
	Section
    2.09   Benefits of Indenture	13
	Section
    2.10   Authenticating Agent	13
	Section
    2.11   Global Securities	14
	Section
    2.12   CUSIP Numbers	15
	ARTICLE
    3   REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS	15
	Section
    3.01   Redemption	15
	Section
    3.02   Notice of Redemption	15
	Section
    3.03   Payment Upon Redemption	16
	Section
    3.04   Sinking Fund	17
	Section
    3.05   Satisfaction of Sinking Fund Payments with Securities	17
	Section
    3.06   Redemption of Securities for Sinking Fund	17
	ARTICLE
    4   COVENANTS	17
	Section
    4.01   Payment of Principal, Premium and Interest	17
	Section
    4.02   Maintenance of Office or Agency	18
	Section
    4.03   Paying Agents	18
	Section
    4.04   Appointment to Fill Vacancy in Office of Trustee	19
	ARTICLE
    5   SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE	19
	Section
    5.01   Company to Furnish Trustee Names and Addresses of Securityholders	19
	Section
    5.02   Preservation Of Information; Communications With Securityholders	19
	Section
    5.03   Reports by the Company	20
	Section
    5.04   Reports by the Trustee	20
	ARTICLE
    6   REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT	21
	Section
    6.01   Events of Default	21
	Section
    6.02   Collection of Indebtedness and Suits for Enforcement by Trustee	22
	Section
    6.03   Application of Moneys Collected	23
	Section
    6.04   Limitation on Suits	24
	Section
    6.05   Rights and Remedies Cumulative; Delay or Omission Not Waiver	25
	Section
    6.06   Control by Securityholders	25
	Section
    6.07   Undertaking to Pay Costs	25
	ARTICLE
    7   CONCERNING THE TRUSTEE	26

 

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	Section
    7.01   Certain Duties and Responsibilities of Trustee	26
	Section
    7.02   Certain Rights of Trustee	27
	Section
    7.03   Trustee Not Responsible for Recitals or Issuance or Securities	29
	Section
    7.04   May Hold Securities	29
	Section
    7.05   Moneys Held in Trust	29
	Section
    7.06   Compensation and Reimbursement	29
	Section
    7.07   Reliance on Officer’s Certificate	30
	Section
    7.08   Disqualification; Conflicting Interests	30
	Section
    7.09   Corporate Trustee Required; Eligibility	30
	Section
    7.10   Resignation and Removal; Appointment of Successor	31
	Section
    7.11   Acceptance of Appointment By Successor	32
	Section
    7.12   Merger, Conversion, Consolidation or Succession to Business	33
	Section
    7.13   Preferential Collection of Claims Against the Company	33
	Section
    7.14   Notice of Default	33
	ARTICLE
    8   CONCERNING THE SECURITYHOLDERS	34
	Section
    8.01   Evidence of Action by Securityholders	34
	Section
    8.02   Proof of Execution by Securityholders	34
	Section
    8.03   Who May be Deemed Owners	34
	Section
    8.04   Certain Securities Owned by Company Disregarded	35
	Section
    8.05   Actions Binding on Future Securityholders	35
	ARTICLE
    9   SUPPLEMENTAL INDENTURES	35
	Section
    9.01   Supplemental Indentures Without the Consent of Securityholders	35
	Section
    9.02   Supplemental Indentures With Consent of Securityholders	36
	Section
    9.03   Effect of Supplemental Indentures	37
	Section
    9.04   Securities Affected by Supplemental Indentures	37
	Section
    9.05   Execution of Supplemental Indentures	37
	ARTICLE
    10   SUCCESSOR ENTITY	38
	Section
    10.01   Company May Consolidate, Etc	38
	Section
    10.02   Successor Entity Substituted	38
	ARTICLE
    11   SATISFACTION AND DISCHARGE	39
	Section
    11.01   Satisfaction and Discharge of Indenture	39
	Section
    11.02   Discharge of Obligations	39
	Section
    11.03   Deposited Moneys to be Held in Trust	39
	Section
    11.04   Payment of Moneys Held by Paying Agents	40
	Section
    11.05   Repayment to Company	40
	ARTICLE
    12   IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS	40
	Section
    12.01   No Recourse	40
	ARTICLE
    13   MISCELLANEOUS PROVISIONS	41
	Section
    13.01   Effect on Successors and Assigns	41
	Section
    13.02   Actions by Successor	41
	Section
    13.03   Surrender of Company Powers	41
	Section
    13.04   Notices	41
	Section
    13.05   Governing Law; Jury Trial Waiver	41

 

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	Section
    13.06   Treatment of Securities as Debt	41
	Section
    13.07   Certificates and Opinions as to Conditions Precedent	41
	Section
    13.08   Payments on Business Days	42
	Section
    13.09   Conflict with Trust Indenture Act	42
	Section
    13.10   Counterparts	42
	Section
    13.11   Separability	42
	Section
    13.12   Compliance Certificates	42
	Section
    13.13   U.S.A Patriot Act	43
	Section
    13.14   Force Majeure	43
	Section
    13.15   Table of Contents; Headings	43

 

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INDENTURE

INDENTURE,
dated as of [•], 20[•], among Verb Technology Company, Inc., a Nevada corporation (the “Company”),
and [TRUSTEE], as trustee (the “Trustee”):

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

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

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

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

ARTICLE
1

DEFINITIONS

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

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

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

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

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

    	 

     

    

 

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

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

“Company”
means Verb Technology Company, Inc., a corporation duly organized and existing under the laws of the State of Nevada, and, subject to
the provisions of Article Ten, shall also include its successors and assigns.

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

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

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

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

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

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

The
term “given,” “mailed,” “notify” or “sent”
with respect to any notice to be given to a Securityholder pursuant to this Indenture, shall mean notice (x) given to the Depositary
(or its designee) pursuant to the standing instructions from the Depositary or its designee, including by electronic mail in accordance
with accepted practices or procedures at the Depositary (in the case of a Global Security) or (y) mailed to such Holder by first
class mail, postage prepaid, at its address as it appears on the Security Register (in the case of a definitive Security). Notice so
“given” shall be deemed to include any notice to be “mailed” or “delivered,” as applicable, under
this Indenture.

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

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

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

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

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

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

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

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

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

 

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

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

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

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

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

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

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

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

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

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

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

ARTICLE
2

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

Section
2.01         Designation and Terms of Securities.

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

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

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

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

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

(5)              
the applicability of any guarantees;

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

(7)              
whether the Securities rank as senior debt, senior subordinated debt, subordinated debt or any combination thereof, and the terms of
any subordination;

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

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

 

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

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

(12)          
the date or dates, if any, on which, and the price or prices at which the Company is obligated, pursuant to any mandatory sinking fund
or analogous fund provisions or otherwise, to redeem, or at the Securityholder’s option to purchase, the series of Securities and
the currency or currency unit in which the Securities are payable;

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

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

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

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

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

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

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

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

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

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

(23)          
the currency of payment of Securities if other than U.S. dollars and the manner of determining the equivalent amount in U.S. dollars;

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

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

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

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

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

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

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

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

 

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

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

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

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

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

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

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

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

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

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

Upon
the Company’s delivery of any such authentication order to the Trustee at any time after the initial issuance of Securities under
this Indenture, the Trustee shall be provided with, 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 or reliance letter and (2) an Officer’s Certificate stating
that all conditions precedent to the execution, authentication and delivery of such Securities are in conformity with the provisions
of this Indenture.

    	9

     

    

 

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

Section
2.05         Registration of Transfer and Exchange.

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

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

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

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

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

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

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

 

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

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

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

    	11

     

    

 

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

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

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

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

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

 

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

Section
2.11         Global Securities.

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

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

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

 

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

ARTICLE
3

REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS

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

Section
3.02         Notice of Redemption.

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

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

 

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

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

Section
3.03         Payment Upon Redemption.

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

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

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

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

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

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

ARTICLE
4

COVENANTS

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

 

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

Section
4.03         Paying Agents.

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

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

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

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

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

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

 

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

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

ARTICLE
5

SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE

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

Section
5.02         Preservation Of Information; Communications With Securityholders.

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

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

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

Section
5.03         Reports by the Company.

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

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

Section
5.04         Reports by the Trustee.

(a)               
If required by Section 313(a) of the Trust Indenture Act, the Trustee, within sixty (60) days after each May 1, shall send
to the Securityholders a brief report dated as of such May 1, which complies with Section 313(a) of the Trust Indenture Act.

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

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

 

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ARTICLE 6

REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT

Section
6.01         Events of Default.

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

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

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

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

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

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

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

 

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(c)               
At any time after the principal of (and premium, if any, on) and accrued and unpaid interest on the Securities of that series shall have
been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered
as hereinafter provided, the holders of a majority in aggregate principal amount of the Securities of that series then Outstanding hereunder,
by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if: (i) the Company
has paid or deposited with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of that series
and the principal of (and premium, if any, on) any and all Securities of that series that shall have become due otherwise than by acceleration
(with interest upon such principal and premium, if any, and, to the extent that such payment is enforceable under applicable law, upon
overdue installments of interest, at the rate per annum expressed in the Securities of that series to the date of such payment or deposit)
and the amount payable to the Trustee under Section 7.06, and (ii) any and all Events of Default under the Indenture with respect
to such series, other than the nonpayment of principal on (and premium, if any, on) and accrued and unpaid interest on Securities of
that series that shall not have become due by their terms, shall have been remedied or waived as provided in Section 6.06. No such
rescission and annulment shall extend to or shall affect any subsequent default or impair any right consequent thereon.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 

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

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

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

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

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

 

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ARTICLE
7

CONCERNING THE TRUSTEE

Section
7.01         Certain Duties and Responsibilities of Trustee.

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

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

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

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

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

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

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

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

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

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

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

Section
7.02         Certain Rights of Trustee. Except as otherwise provided in Section 7.01:

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

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

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

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

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

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

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

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

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

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

 

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(k)              
The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified,
are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder and under the Securities, and each agent,
custodian or other person employed to act under this Indenture.

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

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

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

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

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

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

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

Section
7.06         Compensation and Reimbursement.

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

 

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

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

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

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

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

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

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

Section
7.10         Resignation and Removal; Appointment of Successor.

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

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

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

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

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

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

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

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

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

Section
7.11         Acceptance of Appointment By Successor.

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

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

 

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

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

(e)               
Upon acceptance of appointment by a successor trustee as provided in this Section, the Company shall send notice of the succession of
such trustee hereunder to the Securityholders. If the Company fails to transmit such notice within ten days after acceptance of appointment
by the successor trustee, the successor trustee shall cause such notice to be transmitted at the expense of the Company.

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

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

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

 

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ARTICLE
8

CONCERNING THE SECURITYHOLDERS

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

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

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

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

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

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

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

 

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

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

ARTICLE
9

SUPPLEMENTAL INDENTURES

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

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

(b)              
to comply with Article Ten;

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

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

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

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

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

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

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

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

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

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

 

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

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

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

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

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

 

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ARTICLE
10

SUCCESSOR ENTITY

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

Section
10.02     Successor Entity Substituted.

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

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

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

 

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ARTICLE
11

SATISFACTION AND DISCHARGE

Section
11.01     Satisfaction and Discharge of Indenture. If at any time: (a) the Company shall have delivered
to the Trustee for cancellation all Securities of a series theretofore authenticated and not delivered to the Trustee for cancellation
(other than any Securities that shall have been destroyed, lost or stolen and that shall have been replaced or paid as provided in Section 2.07
and Securities for whose payment money or Governmental Obligations have theretofore been deposited in trust or segregated and held in
trust by the Company and thereupon repaid to the Company or discharged from such trust, as provided in Section 11.05); or (b) all
such Securities of a particular series not theretofore delivered to the Trustee for cancellation shall have become due and payable, or
are by their terms to become due and payable within one year or are to be called for redemption within one year under arrangements satisfactory
to the Trustee for the giving of notice of redemption, and the Company shall deposit or cause to be deposited with the Trustee as trust
funds the entire amount in moneys or Governmental Obligations or a combination thereof, sufficient in the opinion of a nationally recognized
firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay at maturity or upon
redemption all Securities of that series not theretofore delivered to the Trustee for cancellation, including principal (and premium,
if any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and if the Company
shall also pay or cause to be paid all other sums payable hereunder with respect to such series by the Company then this Indenture shall
thereupon cease to be of further effect with respect to such series except for the provisions of Sections 2.03, 2.05, 2.07, 4.01, 4.02,
4.03, 7.10, 11.5 and 13.04, that shall survive until the date of maturity or redemption date, as the case may be, and Sections 7.06 and
11.05, that shall survive to such date and thereafter, and the Trustee, on demand of the Company and at the cost and expense of the Company
shall execute proper instruments acknowledging satisfaction of and discharging this Indenture with respect to such series.

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

Thereafter,
Sections 7.06 and 11.05 shall survive.

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

 

    	38

     

    

 

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

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

ARTICLE
12

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

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

 

    	39

     

    

 

ARTICLE
13

MISCELLANEOUS PROVISIONS

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

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

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

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

Section
13.05     Governing Law; Jury Trial Waiver. This Indenture and each Security shall be governed by, and construed
in accordance with, the internal laws of the State of New York, except to the extent that the Trust Indenture Act is applicable.

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

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

Section
13.07     Certificates and Opinions as to Conditions Precedent.

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

 

    	40

     

    

 

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

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

Section
13.09     Conflict with Trust Indenture Act. If and to the extent that any provision of this Indenture limits,
qualifies or conflicts with the duties imposed by Section 318(c) of the Trust Indenture Act, such imposed duties shall control.

Section
13.10     Counterparts. This Indenture may be executed in any number of counterparts, each of which shall be
an original, but such counterparts shall together constitute but one and the same instrument. The exchange of copies of this Indenture
and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture as to the
parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile
or PDF shall be deemed to be their original signatures for all purposes.

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

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

    	41

     

    

 

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

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

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

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

VERB
TECHNOLOGY COMPANY, INC.

By:

Name:

Title:

[TRUSTEE],
as Trustee

By:

Name:

Title:

 

    	42

     

    

 

CROSS-REFERENCE
TABLE

	Section
    of Trust Indenture Act of 1939, as Amended
	Section
    of

    Indenture

	310(a)	7.09
	310(b)	7.08
	 	7.10
	310(c)	Inapplicable
	311(a)	7.13
	311(b)	7.13
	311(c)	Inapplicable
	312(a)	5.01
	 	5.02(a)
	312(b)	5.02(c)
	312(c)	5.02(c)
	313(a)	5.04(a)
	313(b)	5.04(b)
	313(c)	5.04(a)
	 	5.04(b)
	313(d)	5.04(c)
	314(a)	5.03
	 	13.12
	314(b)	Inapplicable
	314(c)	13.07(a)
	314(d)	Inapplicable
	314(e)	13.07(b)
	314(f)	Inapplicable
	315(a)	7.01(a)
	 	7.01(b)
	315(b)	7.14
	315(c)	7.01
	315(d)	7.01(b)
	315(e)	6.07
	316(a)	6.06
	 	8.04
	316(b)	6.04
	316(c)	8.01
	317(a)	6.02
	317(b)	4.03
	318(a)	13.09

 

    	43EX-4.5

 Exhibit 4.5 

Execution Version 

RIGHT AGREEMENT 
 This
RIGHT AGREEMENT (this “Agreement”) is made and entered into as of December 20, 2021 (the “Effective Date”), by and among PROFRAC HOLDINGS, LLC, a Texas limited liability company (the
“Company”) and EAGLETON VENTURES, INC., a Texas corporation (“Holder”). 
 WHEREAS, on the
Effective Date, pursuant to that certain Pre-IPO Reorganization Agreement dated as of the Effective Date (the “Pre-IPO Reorganization
Agreement”), by and among the Company, Holder and certain other parties thereto, Holder sold the Best Minority Interest and the Best Ventures Minority Interest (each as defined in the Pre-IPO
Reorganization Agreement) to the Company (the “Sale”); 
 WHEREAS, it is contemplated (but in no event guaranteed)
that ProFrac Holding Corp., a Delaware corporation and an affiliate of the Company (the “IPO Vehicle”), will complete an initial public offering (the “IPO”) of its Class A common stock, par value
$0.01 per share (the “Class A Common Stock”); and 
 WHEREAS, in connection with
the Sale, the Company is issuing to Holder a right (the “Right”) to receive, upon the IPO, Class A Common Stock from the Company as deferred purchase price consideration for the Best Minority Interest and the Best
Ventures Minority Interest, subject to the terms and conditions specified herein. 
 NOW, THEREFORE, in consideration of the foregoing and
the mutual and dependent covenants hereinafter set forth, the parties agree as follows: 
 1. Terms of Right. 

(a) Right. If the IPO is consummated within 365 days following the Effective Date (such period, the “Term”),
then, immediately following the closing of the IPO, (a) the Right will become exercisable and will be deemed automatically exercised in full and (b) upon exercise, the Right will entitle Holder to receive from the Company as deferred
purchase price consideration for the Best Minority Interest and the Best Ventures Minority Interest a number of shares of Class A Common Stock equal to the quotient of (A) Three Million Eight Hundred Ninety-Three Thousand Dollars
($3,893,000) divided by (B) the IPO Price; provided, however, that if the IPO is not consummated on or before February 15, 2022, then for a period commencing on February 16, 2022 and ending on the earlier to occur
of (i) the closing of the IPO and (ii) the 365th day following the Effective Date, Holder may by written notice to the Company elect to cause the Company to pay Holder $3,893,000 in cash
as deferred purchase price consideration for the Best Minority Interest and the Best Ventures Minority Interest. Upon the election pursuant to the proviso in the preceding sentence, the Right will be cancelled and no longer be exercisable, and the
Company shall, within ten (10) business days following receipt of written notice from Holder, pay Holder $3,893,000 in cash, by certified or official bank check or wire transfer of immediately available funds to an account designated by Holder
in its notice. “IPO Price” means the public offering price per share of the Class A Common Stock set forth on the cover page of the final prospectus for the IPO. 

 (b) Procedures. 

(i) Promptly (but in any event within five (5) business days) after the closing of the IPO, the Company shall deliver or
cause to be delivered to Holder a written notice (the “IPO Notice”) specifying the closing date of the IPO, the IPO Price and the number of shares of Class A Common Stock that Holder is entitled to receive. 

(ii) Within ten (10) business days after the consummation of the IPO, the Company shall cause the IPO Vehicle to issue to
the Company (in exchange for equity in the Company in accordance with the terms of the then-existing organizational documents of the Company) the number of shares of Class A Common Stock to which Holder is entitled, and the Company shall
deliver or cause to be delivered to Holder such shares of Class A Common Stock (provided that for administrative convenience the Company may direct the IPO Vehicle to directly issue such shares of Class A Common Stock to Holder on the
Company’s behalf). The shares of Class A Common Stock to which Holder is entitled shall be in book entry form and registered in the name of Holder. No fractional shares of Class A Common Stock will be issued. Fractional shares of
Class A Common Stock shall be rounded as follows: (A) Fractions of one-half or greater shall be rounded to the next higher whole number and (B) fractions of less than one-half shall be rounded to the next lower whole number with no further payment therefor. The shares of Class A Common Stock to be delivered to Holder shall be listed on the applicable stock exchange or public
market on which the Class A Common Stock is then listed and shall be freely transferable pursuant to either registration under the Securities Act of 1933 (the “Securities Act”) or Rule 144 thereunder (“Rule
144”) subject to compliance with the holding period and other requirements of Rule 144 applicable to Holder. The Company shall, and shall cause the IPO Vehicle to, use its commercially reasonable efforts to assist Holder in connection
with any sale of shares of Class A Common Stock pursuant to Rule 144, to the extent applicable (including without limitation to facilitate the removal of any restrictive legends relating to such shares in connection with any such sale). 

(iii) By agreeing to accept the delivery of shares of Class A Common Stock, Holder represents and warrants to the Company
that (A) Holder has all the necessary power and authority and has taken all necessary action to exercise the Right as contemplated by this Section 1, (B) Holder is an “accredited investor,” as defined in
Regulation D under the Securities Act, (C) Holder is acquiring the shares of Class A Common Stock for its own account and not with a view to distribution in violation of the Securities Act, (D) Holder has sufficient knowledge and
experience in financial and business matters so as to be able to evaluate the merits and risks of an investment in the Class A Common Stock and is able, financially, to bear the risks thereof, and (E) Holder acknowledges that the shares of
Class A Common Stock to be delivered to Holder will, upon issuance, be characterized as “restricted securities” under state and federal securities laws and that under such laws and applicable regulations such shares of Class A
Common Stock may be resold without registration under such laws only in certain limited circumstances. 
 (c) Cooperation; Company and IPO
Vehicle Obligations. 
 (i) The Company and Holder each shall take all actions as may be reasonably necessary to
consummate the transactions contemplated by this Section 1, including, without limitation, entering into agreements and delivering certificates and instruments and consents as may be deemed necessary or appropriate. 

  
 2 

 (ii) The Company shall, and shall cause the IPO Vehicle (as applicable) to:

 (A) keep Holder reasonably informed of the status of the IPO, unless the Company determines, in its good faith opinion,
that the sharing of such information with Holder would be materially adverse to the best interest of the Company or is prohibited by any applicable law, regulation or court order or the Company’s third party contractual obligations; 

(B) take all such actions as may be necessary to ensure that all shares of Class A Common Stock issuable to Holder under
this Agreement are, at the time of issuance, (1) duly and validly issued, fully paid and non-assessable and free and clear of all liens and encumbrances (other than restrictions on transfer under
applicable securities laws), and (2) issued without violation by the Company or the IPO Vehicle of any applicable law or governmental regulation or any requirements of any domestic securities exchange upon which shares of Class A Common
Stock are then listed (except for official notice of issuance, which shall be immediately delivered by the IPO Vehicle upon such issuance); and 

(C) pay all expenses in connection with, and all stamp or other similar transfer taxes that may be imposed with respect to, the
issuance or delivery of shares of Class A Common Stock to Holder upon exercise of the Right. 
 (d) No IPO. If no IPO is
consummated during the Term and the Right is not cancelled pursuant to Section 1(a), the Company shall, within ten (10) business days following the expiration of the Term, pay Holder, as deferred purchase price
consideration for the Best Minority Interest and the Best Ventures Minority Interest, Three Million Eight Hundred Ninety-Three Thousand Dollars ($3,893,000) in cash, by certified or official bank check or wire transfer of immediately available funds
to an account designated by Holder reasonably in advance. 
 2. Notices. All notices, requests, consents, claims, demands, waivers and
other communications hereunder shall be in writing and shall be deemed to have been given (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by a nationally recognized overnight courier
(receipt requested); (c) on the date sent by e-mail of a PDF document (with confirmation of receipt) if sent during normal business hours of the recipient, and on the next business day if sent after
normal business hours of the recipient; or (d) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications must be sent to the respective parties at the addresses
indicated below (or at such other address for a party as shall be specified in a notice given in accordance with this Section 2). 
  

			
	If to the Company:	  	 ProFrac Holdings, LLC
 333 Shops Blvd, Suite
300
 Willow Park, Texas 76087
 Attention: Robert J.
Willette
 Email: robert.willette@wilksbrothers.com

		
	If to Holder:	  	At the address specified for Holder on the signature page hereto

  
 3 

 3. Entire Agreement. This Agreement and the
Pre-IPO Reorganization Agreement constitute the sole and entire agreement of the parties to this Agreement with respect to the subject matter contained herein, and supersedes all prior and contemporaneous
understandings and agreements, both written and oral, with respect to such subject matter. 
 4. Successors and Assigns. This
Agreement shall be binding upon and shall inure to the benefit of the parties hereto, and their respective successors and permitted assigns. However, neither this Agreement nor any of the rights of the parties hereunder may otherwise be transferred
or assigned by any party hereto, except (a) that if the Company shall merge or consolidate with or into, or sell or otherwise transfer substantially all its assets to, another entity, such other entity shall assume the Company’s
obligations under this Agreement and provide to Holder written assurance of such other entity’s financial capability to Holder’s reasonable satisfaction, or (b) Holder may assign its rights under this Agreement to an affiliate or a
legal successor without the prior written consent of the Company. 
 5. No Third-Party Beneficiaries. This Agreement is for the sole
benefit of the parties hereto and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other person any legal or equitable right, benefit or remedy of any nature
whatsoever, under or by reason of this Agreement. 
 6. Headings. The headings in this Agreement are for reference only and shall not
affect the interpretation of this Agreement. 
 7. Amendment and Modification; Waiver. This Agreement may only be amended, modified or
supplemented by an agreement in writing signed by each party hereto. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the party so waiving. Except as otherwise set forth
in this Agreement, no failure to exercise, or delay in exercising, any rights, remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy,
power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. 

8. Severability. If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity,
illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon such determination that any term or other provision is
invalid, illegal or unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions
contemplated hereby be consummated as originally contemplated to the greatest extent possible. 

  
 4 

 9. Governing Law; Submission to Jurisdiction. This Agreement shall be governed by and
construed in accordance with the internal laws of the State of Texas without giving effect to any choice or conflict of law provision or rule (whether of the State of Texas or any other jurisdiction) that would cause the application of Laws of any
jurisdiction other than those of the State of Texas. Any legal suit, action or proceeding arising out of or based upon this Agreement or the transactions contemplated hereby may be instituted in the federal courts of the United States of America or
the courts of the State of Texas, and each party irrevocably submits to the exclusive jurisdiction of such courts in any such suit, action or proceeding. Service of process, summons, notice or other document by mail to such party’s address set
forth herein shall be effective service of process for any suit, action or other proceeding brought in any such court. The parties irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or any proceeding in
such courts and irrevocably waive and agree not to plead or claim in any such court that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. 

10. WAIVER OF JURY TRIAL. EACH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY
LEGAL ACTION ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY TO THIS AGREEMENT CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER IN THE EVENT OF A LEGAL ACTION; (B) SUCH PARTY HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER; (C) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY; AND (D) SUCH PARTY HAS
BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10. 

11. Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which shall
together be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail or other means of electronic transmission shall be deemed to have the same legal
effect as delivery of an original signed copy of this Agreement. 
 12. Compliance with Laws and Regulations. The exercise of the
Right shall be subject to compliance by the Company and Holder with all applicable requirements of law, including federal and state securities laws. 

13. No Presumption. The parties to this Agreement have participated jointly in the negotiation and drafting of this Agreement. In the
event an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties, and no presumption or burden of proof will arise favoring or disfavoring any party by virtue of the authorship
of any of the provisions of this Agreement. 
 [Signatures on Next Page] 

  
 5 

 IN WITNESS WHEREOF, the parties hereto have executed this Right Agreement on the date first
written above. 
  

			
	COMPANY:
	
	FARRIS C. WILKS
		
	By:	 	 /s/ Farris Wilks

	Name: Farris Wilks
	
	THRC HOLDINGS, LP
	
	By: THRC Management, LLC, its general partner
		
	By:	 	 /s/ Dan Wilks

	Name: Dan Wilks
	
	HOLDER:
	
	EAGLETON VENTURES, INC.
		
	By:	 	 /s/ Kevin Eagleton

	Name: Kevin Eagleton
	
	Address: 2219 Fairview, Ave E, #10
	Seattle, WA 98102

 Signature Page to Right Agreement 

(Eagleton)

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