Document:

Exhibit
10.2

 

 

 

REAL
ESTATE PURCHASE AND SALE AGREEMENT

 

 

 

THIS
REAL ESTATE PURCHASE AND SALE AGREEMENT (“Agreement”), is entered into and shall be effective as of the 14th day of
April, 2022, by and between IBEX PROPERTY LLC, a Nevada limited liability company (“Seller”), and JP
Lawrence Land and Building LLC, a Utah limited liability company (“Purchaser”). Seller and Purchaser are
referred to collectively in this Agreement as the “Parties” or, individually, as a “Party.”

 

RECITALS

 

A.
Seller is the owner of two parcels of real property, identified as Tax Parcel Nos. 05-102-0004 and 05-102-0003 in Cache County, Utah,
consisting of approximately 1.75 combined gross acres of land located at or near the intersection of 1400 North and RSI Drive in the
City of Logan, County of Cache, State of Utah, as generally depicted on the site plan (“Site Plan”) attached hereto
as Exhibit “A” and being more particularly described on Exhibit “B” attached hereto
(“Land”), together with (i) any and all rights, privileges, easements, tenements, hereditaments, rights-of-way, and
appurtenances that belong or appertain to the Land or are owned by or run in favor of Seller, including, without limitation, any and
all rights to minerals, oil, gas, hydrocarbon substances, and other materials or substances on and under the Land, as well as any and
all development rights, entitlements, and land use approvals, air rights, water, and appurtenant water rights that pertain to or are
associated with the Land (collectively, the “Appurtenances”), (ii) any and all buildings, structures, parking areas,
paved areas, landscaped areas (including, without limitation, plants, trees, shrubbery, and other landscaping improvements), fixtures,
and other improvements located on the Land including, without limitation, any apparatus, equipment, and appliances used in connection
with the use, operation, maintenance, and occupancy of the Land, such as all electrical, mechanical, plumbing, and heating and air conditioning
systems and facilities used to provide any utility, refrigeration, ventilation, garbage disposal, or other services on the Land (collectively,
the “Improvements”), (iii) any and all maps, surveys, reports, studies, plans, specifications, drawings, warranties,
appraisals, tests, inspections, and certificates of occupancy owned or held by Seller that pertain to or are associated with the Land
or the use, operation, and maintenance thereof (collectively, the “Tangible Property”), (iv) any and all intangible
property owned or held by Seller that pertain to or are associated with the Land or to the use, operation, and maintenance thereof, including,
without limitation, all permits, authorizations, approvals, licenses, service contracts, management agreements, and other agreements
relating to the Land (collectively, the “Intangible Property”), and (v) any and all personal property owned by Seller
located on the Land or the Improvements, including, without limitation, (a) any and all carpets, drapes, blinds, and other furnishings
comprising a part of, or attached to, or located upon, the Land or the Improvements, (b) any and all appliances located on the Land or
the Improvements and owned by Seller, and (c) any and all other machinery, equipment, and fixtures located on the Land (collectively,
all items referenced under Recital A.(v) above shall be known as the “Personal Property”).

 

    	 

     

    

 

B.
The Land, Appurtenances, Improvements, Tangible Property, Intangible Property, and Personal Property are collectively referred to in
this Agreement as the “Property.”

 

C.
Seller desires to sell, transfer, and convey full and complete title, ownership, rights, and control of the Property to Purchaser and
Purchaser desires to purchase and accept from Seller the Property, in accordance with the terms and conditions of this Agreement.

 

D.
Concurrently with the execution and delivery of this Agreement Utah CRO Services, Inc., a Nevada corporation (“Utah CRO”),
and JP Lawrence Biomedical, Inc. a Delaware corporation (“JPL Biomedical”) have executed and delivered that certain
Stock Purchase Agreement (“Stock Purchase Agreement”), wherein Utah CRO has agreed to sell, transfer, and convey to
JPL Biomedical all of the capital stock of IBEX Preclinical Research, Inc., a Utah corporation (“IBEX Corp.”), on
the terms set forth in the Stock Purchase Agreement attached hereto as Exhibit “D”.

 

AGREEMENT

 

for
good and valuable consideration, the receipt and adequacy
of which are hereby acknowledged, the Parties hereby agree as follows:

 

ARTICLE
I

TRANSFER OF PROPERTY

 

1.
Transfer of Property. Upon the full and complete satisfaction of all closing conditions and contingencies contained in
this Agreement and in the Stock Purchase Agreement, Seller agrees to sell, transfer, and convey full and complete title, ownership, rights,
and control of Seller in and to the Property to Purchaser, and Purchaser agrees to purchase and accept the Property from Seller, in accordance
with the terms and conditions of this Agreement.

 

2.
No Assumption of Liabilities. Seller agrees and acknowledges that Purchaser, under no event or circumstance, shall be responsible
or liable for any obligation or liability whatsoever of Seller, whether existing prior to or after the Effective Date of this Agreement
or prior to Closing (as defined in Section 8.2 below), and Purchaser, by agreeing to purchase and accept the Property from Seller
is not accepting or agreeing to assume or discharge any obligations or liabilities whatsoever pertaining to the Property or with respect
to Seller or any third-parties that may claim or have any kind of interest whatsoever against Seller or the Property. Purchaser agrees
and acknowledges that Seller, under no event or circumstance, shall be responsible or liable for any obligation or liability whatsoever
of Purchaser pertaining to Purchaser’s ownership, use, development, maintenance, and operation of the Property arising after the
Closing.

 

3.
Purchase Price. The purchase price for the Property shall be the sum of Two Million Eight Hundred Thousand Dollars and
No/100 ($2,800,000.00) (the “Purchase Price”).

 

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ARTICLE
II

DUE
DILIGENCE AND INSPECTIONS

 

Section
2.1 Physical Inspections.

 

(a)
Subject to the Due Diligence Deadline (as defined in Section 2.3 below), Purchaser and its representatives, consultants, and contractors
shall at all times before the Closing have the privilege, opportunity, and right, with at least twenty-four (24) hours’ notice
to Seller (which may be delivered in writing, by e-mail, or orally), to enter upon the Property, including, without limitation, any Improvements
and Appurtenances located thereon or associated therewith, in order to inspect, review, investigate, examine, and inquire further about
the Property and to perform any tests, examinations, surveys, and inspections on the Property (including, without limitation, any desirable
geotechnical and environmental tests, studies, and examinations, soil tests, borings, percolation tests, and other tests in order to
analyze surface, subsurface, and topographic conditions). Purchaser and it representatives, consultants, and contractors shall conduct
such entry and any inspections in connection with the Property so as to minimize, to the extent reasonably possible, interference with
the activities of Seller and IBEX Corp. (as an existing tenant), which in some circumstances may mean that Seller may require more than
twenty-four (24) hours’ notice to Seller from Purchaser prior to the performance of said inspections given the sensitive and confidential
nature of Seller’s business activities for its clients.

 

(b)
Seller represents to Purchaser that, to the best of Seller’s knowledge, information, and belief, any and all approvals, consents,
authorizations, or licenses necessary to allow Purchaser to enter upon the Property to perform the tests, studies, and examinations contemplated
under Section 2.1(a) above have been obtained, including, without limitation, any approvals necessary from IBEX Corp. and any
other tenants or occupants on the Property. Seller agrees to indemnify and hold Purchaser harmless from and against any claim, damage,
expense, or liability arising from Purchaser’s reliance on such approvals, consents, authorizations, and/or licenses; however,
the foregoing indemnity shall not apply to any damages, injuries, claims, expenses, or liabilities arising out of or related to Purchaser’s
negligence or willful misconduct. The risk of loss with respect to the Property shall be borne by Seller up until the Closing Date (as
defined in Section 8.2 below) and shall be borne by Purchaser from and after the Closing Date.

 

Section
2.2 Inspections of Seller’s Disclosures. Subject to the Due Diligence Deadline and the Title Cure Deadline (if applicable),
Purchaser and its representatives, consultants, and contractors shall at all times before Closing have the privilege, opportunity, and
right to inspect, review, investigate, examine, and inquire further about any and all of the Property and any other information or documentation
provided by Seller that pertain to or are associated with the Property, including, without limitation, those conformed copies of those
documents, instruments, and other items specified or generally described on Exhibit “C” attached hereto (collectively,
the “Seller’s Disclosures”). Seller represents, warrants, covenants, and certifies to Purchaser that the Seller’s
Disclosures, upon delivery, will be complete and consist of everything that is in Seller’s possession, however, Seller does not
warrant or make any representation to Purchaser regarding the truthfulness or accuracy of any of the Seller’s Disclosures that
were not prepared or produced by Seller. Seller agrees, within five (5) business days after the Effective Date, to furnish and deliver
to Purchaser and its legal counsel, two (2) complete hard copies of the Seller’s Disclosures and one (1) complete electronic copy
of the Seller’s Disclosures (delivered in portable document format (PDF)) and to certify in writing to Purchaser concurrently with
such delivery that to the best of Seller’s knowledge, information, and belief Seller has delivered each and every item of the Seller’s
Disclosures to the extent such item is in Seller’s possession. Seller will hold Purchaser harmless from and against any claim,
damage, expense, or liability suffered by Purchaser with respect to any claim made against Purchaser as a result of any breach of Seller’s
obligations under this Section 2.2, provided that, without expanding by implication the scope of the foregoing covenant, the foregoing
agreement to hold harmless shall not apply to any loss, cost, damage, expense, or liability arising out of or related to Purchaser’s
negligence or willful misconduct.

 

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Section
2.3 Due Diligence Deadline. Purchaser shall have until 11:59 p.m. (Mountain Standard Time), on the date that is thirty (30)
days after Seller’s delivery of the Seller’s Disclosures as contemplated in Section 2.2 above (the “Due Diligence
Deadline”), to:

 

(a)
Satisfy itself as to any and all matters as Purchaser deems to be necessary or desirable in connection with the Seller’s Disclosures,
including, without limitation, the truth, accuracy, completeness, and acceptability of the Seller’s Disclosures, or the waiver
by Purchaser of any objections to the Seller’s Disclosures;

 

(b)
Satisfy itself as to any boundary and survey issues related to the Property, whether provided by Seller as part of the Seller Disclosures,
if any (the “Survey”), and in the event Seller has no Survey, to satisfy itself of a Survey that may be obtained by
Purchaser at Purchaser’s sole cost and expense, a courtesy copy of which shall be provided to Seller and its legal counsel, or
the waiver by Purchaser of any objections to the Survey;

 

(c)
Satisfy itself as to all matters in the Commitment (as defined in Section 3.1(f) below) and any other matters related to the status
of title to the Property and the issuance of the Owner’s Title Policy (as defined in Section 8.4 below). Purchaser may notify
Seller prior to the expiration of the Due Diligence Deadline of any objectionable title matters or defects that Purchaser reasonably
believes affect the marketability, insurability, ownership, or use of Purchaser’s title to the Property. If Seller is notified
of any such objectionable title matters or defects prior to the Due Diligence Deadline, Seller shall attempt in good faith to procure
a cure for the same up until three (3) days prior to the Closing Date (the “Title Cure Deadline”); provided, however,
Seller is not being obligated to make any such cure. If, however, Seller does not cure the objectionable title matters or defects objected
to by the expiration of the Title Cure Deadline, then at Purchaser’s option, Purchaser may either (i) take title to the Property
despite the existence of such matters, or (ii) terminate this Agreement by giving written notice to Seller prior to the expiration of
the Title Cure Deadline, in which event this Agreement shall be deemed terminated and of no further force or effect with Seller and Purchaser
having no further rights, obligations, or liabilities under this Agreement, except for matters that by the terms of this Agreement expressly
survive termination. In the event Purchaser does not give written notice of termination to Seller prior to the expiration of the Title
Cure Deadline, Purchaser shall be deemed to have accepted the status of title to the Property;

 

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(d)
Satisfy itself as to such other matters as Purchaser, in its sole and absolute discretion, deems to be necessary or desirable in connection
with the potential ownership, use, development, maintenance, insurability, leasing, financing, and operation of the Property and/or the
business of IBEX Corp. acquired by JPL Biomedical under the Stock Purchase Agreement (the “Business”); and

 

(e)
Complete all inspections, testing, obtain a Survey (as contemplated in Section 2.3(b)), obtain any environmental audits or inspections,
verify the zoning of the Property, and conduct and complete any and all other due diligence items that Purchaser deems necessary pertaining
to the Property and/or the Business.

 

At
any time prior to the Due Diligence Deadline, Purchaser may terminate this Agreement for any reason that Purchaser determines, in its
sole and absolute discretion, does not meet Purchaser’s satisfaction (including, those items specified in subparts (a) through
(e) above), or for any reason which adversely or materially affects the marketability or insurability of the title to the Property or
that adversely or materially affects the potential ownership, use, development, maintenance, insurability, leasing, financing, and operation
of the Property and/or the Business for Purchaser’s intended purposes, by giving written notice to Seller , in which event this
Agreement will be deemed terminated, except for matters that by the terms of this Agreement expressly survive termination..

 

Section
2.4 Conditions Precedent. Seller agrees and acknowledges that Purchaser’s willingness to accept title, ownership, rights,
and control of the Property pursuant to this Agreement shall be conditioned upon the full and complete satisfaction of each of the following
conditions precedent prior to the Closing Date, including any extensions thereof (any of which conditions precedent may be waived by
Purchaser upon giving written notice of such waiver to Seller):

 

(a)
Purchaser has not given written notice prior to the expiration of the Due Diligence Deadline and the Title Cure Deadline (if applicable)
that Purchaser has terminated this Agreement.

 

(b)
Seller’s and Utah CRO’s full and complete performance of all of its requirements, conditions, and obligations under this
Agreement and the Stock Purchase Agreement, including, without limitation, with respect to the issuance of the Owner’s Title Policy
the delivery and satisfaction of any and all requirements of the Title Company.

 

(c)
The truth, accuracy, and completeness of Seller’s and Utah CRO’s warranties, representations, and covenants in this Agreement
and the Stock Purchase Agreement.

 

(d)
The absence of any material or adverse change in the status of the use, title, occupancy, or physical condition of the Property (including,
without limitation, any such change caused by casualty or condemnation) and the absence of any material or adverse change in the Seller’s
Disclosures.

 

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(e)
Seller’s and Utah CRO’s full and complete performance of all of its requirements, conditions, and obligations under this
Agreement and the Stock Purchase Agreement.

 

(f)
Purchaser has obtained a loan from a lender of its choice, upon terms and conditions acceptable to Purchaser, in its sole and absolute
discretion, in order for Purchaser to secure the funds necessary to purchase the Property and pay the Purchase Price at Closing.

 

The
Parties agree that the Closing under this Agreement and the closing under the Stock Purchase Agreement will occur simultaneously. If
one (1) or more of the closing conditions and contingencies set forth in this Sections 2.4 above are not satisfied (or waived
by Purchaser or Seller as the case may be) on or before the Closing Date, including any extensions thereof, or should Purchaser or JPL
Biomedical desire to terminate this Agreement and the Stock Purchase Agreement for any reason or reasons provided therein on or before
the Closing Date, including any extensions thereof, then Purchaser may, at its option, terminate this Agreement by giving written notice
of termination to Seller and its legal counsel and the Title Company on or before the Closing Date, as the case may be, which termination
shall be in addition to exercising any other remedy available to Purchaser in the event of a failure of a contingency due to Seller’s
default under this Agreement, whereupon this Agreement and the Stock Purchase Agreement shall be deemed terminated and of no further
force or effect with Seller, Purchaser, Utah CRO, and JPL Biomedical having no further rights, obligations, or liabilities under this
Agreement or the Stock Purchase Agreement, except for matters that by the terms of this Agreement and Stock Purchase Agreement expressly
survive termination. The conditions precedent of this Section 2.4 shall last up to and through the Closing Date.

 

ARTICLE
III

TITLE

 

Section
3.1 Conditions of Title.

 

(a)
At the Closing, Seller shall convey good and marketable fee simple title to the Land, Appurtenances, and Improvements to Purchaser by
Special Warranty Deed, free and clear of all liens, encumbrances, and other exceptions to title, except the Permitted Title Exceptions
(as defined in Section 3.1(g) below), in a form to be negotiated and agreed-upon in good faith by the Parties that is acceptable
and insurable by the Title Company (the “Deed”).

 

(b)
At the Closing, Seller shall convey title to the Tangible Property and Personal Property to Purchaser by a Bill of Sale free and clear
of all liens, encumbrances, and other exceptions to title, except the Permitted Title Exceptions, in a form to be negotiated and agreed-upon
in good faith by the Parties (the “Bill of Sale”).

 

(c)
At the Closing, Seller shall assign, transfer, convey, and deliver possession, title, control, and ownership to the Intangible Property
to Purchaser in accordance with an Assignment and Assumption Agreement, in a form to be negotiated and agreed-upon in good faith by the
Parties (the “General Assignment”). The General Assignment shall state and be consistent with the non-assumption of
liabilities provided for in Section 1.2 above.

 

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(d)
The title to the Property to be conveyed by Seller to Purchaser must be acceptable to and insurable by a nationally-recognized and financially
sound title insurance company designated by Purchaser (such title insurance company so designated being referred to as the “Title
Company”) under the Owner’s Title Policy, free and clear of all liens, encumbrances, and other exceptions to title, except
the Permitted Title Exceptions. As of the Effective Date of this Agreement, First American Title Insurance Company (National Commercial
Services) located at 215 South State Street, Suite 380, Salt Lake City, Utah 84111, has been designated by Purchaser as the Title Company
and the underwriter of the Owner’s Title Policy.

 

(e)
The transfer of the Property to Purchaser shall include any and all of Seller’s ownership and rights in any water rights, water
contracts, and water shares (collectively, the “Water Rights”) that pertain to or are associated with the Land and
any land lying in the bed of any street, sidewalk, or highway, opened or proposed, in front of or adjoining the Property to the center
line thereof, to the extent owned by Seller. The transfer of the Property also includes any right of Seller to any unpaid amount by reason
of any taking by condemnation and/or for any damage to the Property by reason of change of grade of any street or highway. Seller will
deliver at no additional cost to Purchaser, at Closing or thereafter, on demand, any conveyance, assignment, and transfer documents that
Purchaser may require to transfer any Water Rights or other rights associated with the Land as reflected in this Section 3.1(e).
The obligations of Seller under this Section 3.1(e) shall survive the Closing.

 

(f)
Seller will cause the Title Company to issue and deliver to the Parties, an up-to-date commitment for issuance of the Owner’s Title
Policy in accordance with this Agreement and the title insurance coverage requested and desired by Purchaser (the “Commitment”),
along with copies of all source documents and exceptions to title coverage as set forth, referenced, or described in the Commitment.
The Parties will have the Commitment updated (and if desired by Purchaser, converted to a Pro Forma Policy) immediately prior to Closing
in order to allow for issuance of the Owner’s Title Policy and will cause copies of any such update, as well as of any new exceptions
or matters affecting title revealed thereby, to be promptly delivered to the Parties.

 

(g)
Any title exceptions to the Property revealed by the Commitment or the Survey (if any) to which Purchaser does not object prior to the
Due Diligence Deadline, the title exceptions to which Purchaser objects to prior to the Due Diligence Deadline and waives upon the expiration
of the Title Cure Deadline (if applicable), or the title exceptions to which Purchaser waives its objection prior to Closing, are referred
to herein as “Permitted Title Exceptions.” Notwithstanding anything to the contrary in this Agreement, any existing
mortgages, deeds of trust, deeds to secure debt, mechanics’ or materialmen’s liens, judgment liens, or similar monetary liens
and encumbrances, as well as any tenants or other parties in possession of all or any portion of the Property (including the lease and
documents evidencing the leasehold interest of IBEX Corp.), shall automatically be deemed matters to which objection is made by Purchaser,
regardless of whether Purchaser delivers written notice of objection thereto to Seller, and Purchaser under no circumstances shall be
deemed to have waived any such matters, nor shall the same be considered Permitted Title Exceptions under this Agreement, unless such
waiver shall be an express waiver in writing executed by Purchaser. Furthermore, if any title exceptions or Survey matters are disclosed
after the expiration of the Due Diligence Deadline or the Title Cure Deadline (if applicable) by updates of the Commitment and/or Survey
or other title “date-downs” that adversely or materially affect the marketability or insurability of the title to the Property
or that adversely or materially affect the ownership or use of the Property for Purchaser’s intended purposes, Purchaser may after
the discovery thereof notify Seller in writing, in which event Seller shall promptly employ good faith to procure a cure for same, as
required above, and upon the failure of Seller to effectuate a cure, then Purchaser may elect any of the options set forth in subclauses
(i) and (ii) of Section 2.3(c) above.

 

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ARTICLE
IV

REPRESENTATIONS
AND WARRANTIES

 

Section
4.1 Representations and Warranties of Seller. Except for those express representations, warranties, certificates, and covenants
contemplated and provided for by Seller in favor of Purchaser in this Agreement, the Stock Purchase Agreement, and the Seller Closing
Documents (as defined in Section 8.3(a) below), Seller and Purchaser agree that if Purchaser elects to purchase the Property,
it is doing so in the Property’s “AS IS” “WHERE IS” condition and based upon Purchaser’s own investigations
and due diligence. Notwithstanding anything to the contrary in this Agreement, Seller represents, warrants, certifies, and covenants
to Purchaser that:

 

(a)
Seller is a limited liability company duly organized, validly existing, and in good standing under the laws of the State of Nevada and
is authorized to do business in the State of Utah.

 

(b)
Seller has complete and full authority to sell, transfer, and convey to Purchaser good and marketable fee simple title to the Property,
in accordance with the terms of this Agreement, free and clear of all liens, encumbrances, and other exceptions or limitations to title,
except for any Permitted Title Exceptions.

 

(c)
Seller has complete and full authority to execute and deliver the Seller Closing Documents and such other documents, instruments, and
agreements, including, but not limited to, any affidavits and certificates, as are necessary at the request of the Title Company in order
to carry out and effectuate the transactions contemplated by this Agreement and Seller will execute and deliver the Seller Closing Documents
and other documents and take all such additional actions necessary, appropriate, or desirable by Purchaser or Title Company to effect
and facilitate the consummation of the sale, transfer, and conveyance of the Property and all other transactions contemplated by this
Agreement and the Stock Purchase Agreement.

 

(d)
Each of the persons executing this Agreement on behalf of Seller further represent, warrant, certify, and covenant that the persons signing
this Agreement on behalf of Seller are duly qualified and appointed representatives of Seller and have all requisite powers and authority
on behalf of Seller to enter into this Agreement as the valid, binding, and enforceable obligation of Seller.

 

(e)
An executed copy of this Agreement and all documents executed by Seller in connection with this Agreement (including the Seller Closing
Documents) which are to be delivered to the Title Company at Closing (i) are and at the time of Closing will be duly authorized, executed,
dated, acknowledged, and delivered by Seller, (ii) are and at the time of Closing will be legal, valid, and binding obligations of Seller,
and (iii) do not and at the time of Closing will not violate any provision of this Agreement or any other agreement or judicial order
to which Seller is a party or to which Seller is subject.

 

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(f)
All utilities, including, but not limited to, water, gas, storm sewer, sanitary sewer, telephone, and electricity, are located at the
property line of the Property and have been extended to connect to the preclinical research lab building on the Property and, as of the
Effective Date, are available for immediate use. Water, gas, and electricity have been extended to the barn located on the Property.

 

(g)
To the best of Seller’s knowledge, information, and belief all taxes and assessments that are liens against the Property are shown
in the official records of the taxing authorities in whose jurisdiction the Property is located and Seller has not received any notice
of, and has no knowledge of, any unpaid special assessments being levied against the Property or any portions thereof.

 

(h)
Seller has not received any notice of, and has no knowledge of, any pending or threatened taking or condemnation of the Property or any
portions thereof.

 

(i)
To the best of Seller’s knowledge, 1400 North Street and RSI Drive are either public or private streets open to public access and
the Property has legal access to and from RSI Drive, and any other street fronts and adjoining rights-of-way.

 

(j)
The Property is free of any right of possession or claim of right of possession of any party, other than IBEX Corp. whose lease agreement
has been fully disclosed and which shall be terminated and have no further effect as of Closing (as provided further in Section 7.1
below), and there are no rights of first refusal, purchase options, or similar agreements or arrangements of any kind in existence
in connection with the Property that would in any way impact, challenge, prohibit, or interfere with Purchaser’s ability to accept
title to the Property as contemplated in this Agreement.

 

(k)
Seller has no knowledge of, nor has Seller received any written notice of, any actual or threatened action, litigation, or proceeding
by any organization, person, individual or governmental agency (including governmental actions under condemnation authority or proceedings
similar thereto) against the Property or any portions thereof, nor has any such organization, person, individual, or governmental agency
communicated to Seller anything that Seller believes to be a threat of any such action, litigation, or proceeding that would affect the
Property.

 

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(l)
Seller has received no written notice of and has no knowledge of any violations of law, municipal or county ordinances, or other legal
requirements with respect to the Property or with respect to the development, use, occupancy, or construction thereon and Seller is not
aware of any pending or threatened re-zoning of all or any part of the Property.

 

(m)
During Seller’s ownership of and previous development, use, and operation of the Property, Seller has no knowledge, information,
or belief of any of the following events: (1) the Property being excavated, other than in a manner consistent with Seller’s previous
development and operation of the Property (which excavation, grading, and development plans have been fully disclosed to Purchaser),
(2) one or more landfills being deposited on, or taken from, the Property, and (3) any construction debris or other debris (including,
without limitation, stumps, tanks, or concrete) being buried upon any of the Property. Seller has no knowledge or information regarding
any Hazardous Materials (as defined below) located, used, or stored on the Property. “Hazardous Materials” or similar
terms or iterations shall mean and include asbestos, asbestos-containing materials, petroleum and petroleum products, the group of organic
compounds known as polychlorinated biphenyls, and any substances or materials that are regulated, controlled or prohibited under the
Resource Conservation and Recovery Act of 1976, 42 U.S.C. Section 690, the Comprehensive Environmental Response, Compensation and Liability
Act of 1980, 42 U.S.C. Sections 9601-9657, as amended by the Superfund Amendments and Reauthorization Act of 1986, or any similar federal,
state, or local laws or ordinances or any other environmental laws, the Federal Water Pollution Control Act, 33 U.S.C. Section 1251,
the Clean Air Act, 42 U.S.C. Section 7401, the Toxic Substances Control Act, 15 U.S.C. Section 2601, or any similar federal, state, or
local laws or ordinances, or any other federal, state, or local environmental statutes, regulations, ordinances, or other environmental
regulatory requirements.

 

(n)
Seller is not a “foreign person”, “foreign corporation”, “foreign trust” or “foreign estate”
as those terms are defined in the Internal Revenue Code, Section 1445, nor is the sale of the Property subject to any withholding requirements
imposed by the Internal Revenue Code (including, but not limited to, Section 1445 thereof) or any comparable laws of the State of Utah,
and Purchaser has no obligation under any such laws to withhold any monies from the Purchase Price in accordance with the provisions
of such laws in connection with the transactions contemplated by this Agreement (or, if same shall not be the case such that Purchaser
is obligated to withhold from the Purchase Price under any such laws, Seller shall cooperate with Purchaser in connection with Closing
to allow for withholding and compliance with such laws, as necessary). Seller shall execute at closing a FIRPTA Non-foreign Certificate,
which Certificate shall include Seller’s Federal Employer/Taxpayer Identification Number (FEIN) (the “FIRPTA Certificate”).

 

In
addition to all other rights and remedies of Purchaser or JPL Biomedical set forth in this Agreement, the Stock Purchase Agreement, or
otherwise in equity, Seller shall forever indemnify, defend, and hold harmless Purchaser, its employees, officers, shareholders, attorneys,
directors, agents, contractors, assigns, and successors-in-interest, from and against any and all claims, actions, losses, costs, damages,
and expenses (including reasonable attorneys’ fees, including fees on appeal) resulting from a default or breach by Seller of any
of the representations, warranties, certifications, and covenants contained in this Agreement. The foregoing representations, warranties,
certifications, and covenants and any and all other representations, warranties, certifications, and covenants of Seller contained in
this Agreement shall survive the Closing.

 

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Section
4.2 Representations and Warranties of Purchaser. Purchaser represents, warrants, certifies, and covenants to Seller that:

 

(a)
Purchaser is a limited liability company duly organized, validly existing, and in good standing under the laws of the State of Utah and
is authorized to do business in the State of Utah.

 

(b)
Purchaser has complete and full authority to purchase, acquire, and receive title to the Property, in accordance with the terms of this
Agreement, and to perform any obligations of Purchaser under this Agreement.

 

(c)
Purchaser has complete and full authority to execute and deliver the Purchaser Closing Documents (as defined in Section 8.3(b)
below) and such other documents, instruments, and agreements, including, but not limited to, affidavits and certificates, as are necessary
at the request of the Title Company to effectuate the transactions contemplated by this Agreement and Purchaser will execute and deliver
all such documents and take all such additional actions necessary, appropriate, or desirable to effect and facilitate the transaction
contemplated by this Agreement.

 

(d)
Each of the persons executing this Agreement on behalf of Purchaser further represent, warrant, certify, and covenant that the persons
signing this Agreement on behalf of Purchaser are duly qualified and appointed representatives of Purchaser and have all requisite powers
and authority on behalf of Purchaser to enter into this Agreement as the valid, binding, and enforceable obligation of Purchaser.

 

(e)
An executed copy of this Agreement and all documents executed by Purchaser in connection with this Agreement (including the Purchaser
Closing Documents) which are to be delivered to Title Company at Closing (i) are or at the time of Closing will be duly authorized, executed,
dated, acknowledged, and delivered by Purchaser, (ii) are or at the time of Closing will be legal, valid, and binding obligations of
Purchaser, and (iii) do not and at the time of Closing will not violate any provision of any agreement or judicial order to which Purchaser
is a party or to which Purchaser is subject.

 

In
addition to all other rights and remedies of Seller set forth in this Agreement, the Stock Purchase Agreement and any other documents
hereunder, in law or otherwise in equity, Purchaser shall forever indemnify, defend, and hold harmless Seller, its employees, officers,
shareholders, attorneys, directors, agents, contractors, assigns and successors-in-interest, from and against any and all claims, actions,
loss, cost, damage and expense (including reasonable attorneys’ fees, including fees on appeal) resulting from a default or breach
by Purchaser of any of the representations, warranties, certifications, and covenants contained in this Agreement. The foregoing representations,
warranties, certifications, and covenants and any and all other representations, warranties, certifications, and covenants of Purchaser
contained in this Agreement shall survive the Closing.

 

    	11

     

    

 

ARTICLE
V

CONDEMNATION
or casualty loss

 

Section
5.1 Condemnation Loss. Seller shall give Purchaser written notice of the commencement of any condemnation or eminent domain
proceedings affecting any or all portions of the Property prior to Closing. If any such condemnation or eminent domain affects the Property
in any material or undesirable manner, either Party may in such Party’s sole and absolute discretion within ten (10) calendar days
of Seller’s notice of commencement of condemnation or eminent domain proceedings elect to terminate this Agreement. If Purchaser
elects to move forward with the Closing to purchase the Property, the Purchase Price shall not be reduced and Purchaser shall be entitled
to all of the condemnation proceeds, which Seller will fully assign and transfer to Purchaser, by way of a form to be negotiated and
agreed-upon in good faith by the Parties.

 

Section
5.2 Casualty Loss. If prior to Closing, the Property is damaged or destroyed by fire or other casualty, Seller shall estimate
the cost to repair the Property and the time required to complete repairs and will provide Purchaser with a detailed written notice of
Seller’s estimation (the “Casualty Notice”), as soon as reasonably possible after the occurrence of the casualty.
In the event of any Material Damage (as defined below) to or destruction of the Property, or any portion thereof, prior to Closing, Purchaser
may, at its sole option, terminate this Agreement by delivering written notice to the Seller on or before the expiration of thirty (30)
days after the date Seller delivers the Casualty Notice to Purchaser (and if necessary, the Closing Date shall be extended to give the
Parties the full benefit of the 30-day period to make such election and to obtain insurance settlement agreements with Seller’s
insurers). Upon any such termination, the Seller and Purchaser shall have no further rights, obligations, or liabilities under this Agreement,
except for matters that by the terms of this Agreement expressly survive termination. If Purchaser does not elect to terminate this Agreement
within the aforementioned 30-day period, then the Parties shall proceed under this Agreement and close on the Property timely (subject
to extension of the Closing Date as provided above), and as of Closing Seller shall fully assign and transfer to Purchaser, by way of
a form to be negotiated and agreed-upon in good faith by the Parties, all of Seller’s rights in and to any resulting insurance
proceeds due Seller as a result of such damage or destruction and Purchaser shall thereafter assume responsibility for any desired repairs.
For the purposes of this Agreement, “Material Damage” means damage which exceeds $50,000.00 to repair or which, in
Purchaser’s reasonable estimation, will take longer than thirty (30) days to repair. If the damage to the Property does not qualify
as Material Damage, then neither Purchaser nor Seller shall have the right to terminate this Agreement, and Seller shall, at Purchaser’s
option, either (i) repair the damage before the Closing in a manner reasonably satisfactory to Purchaser, or (ii) credit Purchaser at
Closing for the reasonable cost to complete all necessary and desired repairs (in which case Seller shall retain all insurance proceeds
and Purchaser shall assume full responsibility for all needed repairs).

 

    	12

     

    

 

ARTICLE
VI

BROKERS
AND EXPENSES

 

Section
6.1 Brokers. The Parties represent and warrant to each other that, except as stated in the Stock Purchase Agreement, no broker
or finder was instrumental in arranging or bringing about any of the transactions contemplated by this Agreement and that there are no
claims or rights for brokerage commissions, finder’s fees, or otherwise in connection with the transactions contemplated by this
Agreement. If any Party or third-person brings a claim for a commission, finder’s fee, or any other amount based upon any contact,
dealings, or communication with any of the Parties, then the Party through whom such person makes his claim shall defend the other Parties
(each an “Indemnified Party”) from such claim, and shall forever indemnify the Indemnified Party and hold the Indemnified
Party harmless from any and all costs, damages, claims, liabilities, or expenses (including, without limitation, reasonable attorneys’
fees and expenses) incurred by the Indemnified Party in defending against such claim. The provisions of this Section 6.1 shall
survive the Closing or, if the transactions contemplated by this Agreement are not consummated, any termination of this Agreement.

 

ARTICLE
VII

AGREEMENTS AFFECTING THE PROPERTY

 

Section
7.1 Purchaser’s Approval of Agreements Affecting the Property. Seller acknowledges and agrees that it was a material
inducement to Purchaser entering into this Agreement that any and all benefits, rights, and interests associated with the Property remain
in the same condition existing as of the Effective Date and, as a result, Seller shall not be entitled, without the prior written consent
of Purchaser, which consent may not be unreasonably withheld, conditioned, or delayed, to (i) alter, amend, modify, supplement, or extend
the term of any existing Intangible Property or enter into any new leases, contracts, agreements, or other instruments associated with
the Property, (ii) alter, amend, or modify the Revenues (as defined in Section 8.5 below) of any existing Intangible Property
or enter into any new leases, contracts, agreements, or other instruments associated with the Property until Closing, (iii) make any
tenant and other capital improvements in connection with the Property, or (iv) cancel or terminate any existing Intangible Property (except
terminate the IBEX Corp. lease as provided below) or commence any collection, unlawful detainer, or other remedial action against any
tenant or contract vendor. Purchaser acknowledges and agrees that as of the Closing Date, Seller will cause the lease and any other related
documents currently in effect with IBEX Corp. to be fully terminated, released and of no further force or effect, including, but not
limited to, the release and termination of any memorandums or notices of leases previously recorded against the Property, as identified
in the Commitment. Purchaser agrees and acknowledges that it will not be entitled to any security deposits or revenues from the IBEX
Corp. lease being terminated by Seller as part of the Closing. In addition, Seller will not further sell, encumber, convey, assign, pledge,
lease, or contract to sell, convey, assign, pledge, encumber or lease all or any part of the Property, nor restrict the use of all or
any part of the Property, nor take or cause or allow to be taken any action in conflict with this Agreement at any time between the Effective
Date and the Closing or the earlier termination of this Agreement.

 

Section
7.2 Assignment of Intangible Property. The Seller’s Disclosures shall include full and complete copies of any and all
Intangible Property, together with detailed statements, summaries, and supplemental information as to such Intangible Property. All Intangible
Property shall be fully assigned to and assumed by Purchaser as of the Closing by execution by both Parties of an Assignment and Assumption
of Intangible Property, in a form to be negotiated and agreed-upon in good faith by the Parties (the “Assignment of Intangible
Property”). The Assignment of Intangible Property shall state and be consistent with the non-assumption of liabilities provided
for in Section 1.2 above. No later than ten (10) days prior to the expiration of the Due Diligence Deadline, Seller will obtain
any written estoppel certificates required by Purchaser concerning the Intangible Property signed by each such tenant or third-party
prior to Closing, which estoppel certificates shall be in a form to be negotiated and agreed-upon in good faith by the Parties.

 

    	13

     

    

 

Section
7.3 Protection of Property. At all times prior to Closing, and without limiting the provisions of Section 7.1 above
or any other provision of this Agreement, Seller shall maintain the Property free from waste and neglect, shall maintain all insurance
coverages thereon that are now in place, and shall keep and perform or cause to be performed all obligations of the owner of the Property
under any recorded title documents, the Intangible Property, applicable laws, and any mortgages and deeds of trust affecting the Property.
Without limitation, from the Effective Date to the Closing Date or earlier termination of this Agreement, Seller shall not do, suffer
or permit, or agree to do, any of the following: (i) enter into any transaction with respect to or affecting the Property that would
in any way prevent Seller’s full and complete performance under this Agreement, or limit or adversely affect Purchaser’s
rights under this Agreement or as an owner of the Property following Closing (including, without limitation, anything that may subject
Purchaser to any cost, liability, or expense or otherwise interfere with, delay, or increase the cost of Purchaser’s acquisition,
development, use, maintenance, and operation of the Property); (ii) sell, encumber, pledge, or grant any interest in the Property or
any part thereof in any form or manner whatsoever; (iii) enter into, amend, waive any rights under, terminate, or extend any document
or instrument affecting the Property without the prior written consent of Purchaser; or (iv) without limiting the foregoing, change the
physical characteristics of the Property in any respect unless Purchaser has given its prior written approval to any such change. For
purposes of this Section 7.3, it shall not be unreasonable for Purchaser to refuse to consent to any matter that may subject Purchaser
to any cost, liability, or expense or otherwise interfere with, delay, or increase the cost of Purchaser’s acquisition, development,
use, maintenance, and operation of the Property.

 

ARTICLE
VIII

CLOSING
AND ESCROW

 

Section
8.1 Escrow Instructions. Upon execution and delivery of this Agreement, the Parties shall deposit an executed counterpart
of this Agreement with the Title Company, and this Agreement shall serve as joint instructions to the Title Company as the title insurer
and escrow holder for consummation of the transfer of title, ownership, and control of the Property to Purchaser and all other transfers
contemplated by this Agreement, including, without limitation, the manner in which the Seller Closing Documents and Purchaser Closing
Documents are to be held, released, and handled in escrow. However, Seller and Purchaser reserve the right to submit separate written
escrow and closing instructions to Title Company prior to its part of the Closing.

 

Section
8.2 Closing. The consummation of the sale, transfer, and conveyance of title, ownership, and control of the Property to Purchaser
and the closing of the other transfers and transactions contemplated by this Agreement (collectively, the “Closing”)
shall be defined as the date that the following have occurred: (i) the final, mutually approved versions of the Deed and any other necessary
conveyance documents have been recorded in the official records of the Cache County Recorder’s Office; (ii) previously approved,
executed counterparts of the Bill of Sale, the General Assignment, the Assignment of Intangible Property, and all other Seller Closing
Documents and Purchaser Closing Documents required of the Parties shall have been delivered to the Title Company, (iii) Purchaser shall
have paid to Title Company all funds required from Purchaser necessary to close the transaction the subject of this Agreement at Closing,
and (iv) Purchaser shall have directed the Title Company to release the Purchase Price funds to the Seller. The Closing shall occur on
or before fifteen (15) days after the expiration of the Due Diligence Deadline (“Closing Date”), or on such earlier
date as may be mutually agreed by the Purchaser and Seller by written notice approved by both Parties, given not less than five (5) calendar
days prior to the earlier Closing Date. Purchaser shall have the right to extend the Closing Date for an additional fifteen (15) days,
by giving written notice of such extension to Seller on or before the Closing Date. Except as otherwise provided in this Agreement (including,
under Section 5.2 above), the Closing Date may not be further extended without the prior written approval of Seller and Purchaser.
The Closing shall occur on or prior to the Closing Date at an exact time agreed to by the Parties in the offices of the Title Company.
Notwithstanding the foregoing, the Parties agree that the Closing may occur through the mail and/or electronic transmission pursuant
to a mutually acceptable escrow arrangement among the Parties and the Title Company.

 

    	14

     

    

 

Section
8.3 Deposit of Closing Documents.

 

(a)
At or before the Closing, Seller shall deposit into escrow with Title Company the following documents, agreements, and instruments or
at the request of Purchaser shall ratify and affirm any of the following previously executed and delivered documents (collectively, the
“Seller Closing Documents”):

 

(i)
An original duly executed, dated, acknowledged, and recordable Deed and any other necessary conveyance documents signed by Seller, in
a final form consistent with Section 3.1(a);

 

(ii)
An original duly executed, dated, and acknowledged Bill of Sale signed by Seller, in a final form consistent with Section 3.1(b);

 

(iii)
An original duly executed, dated, and acknowledged General Assignment signed by Seller, in a final form consistent with Section 3.1(c);

 

(iv)
An original executed Assignment of Intangible Property, in a final form consistent with Section 7.2;

 

(v)
Verification, source documentation, and proof of payment to confirm that any and all outstanding taxes and assessments related to the
Property, which are due as of the Closing Date, including any penalties, late fees, and accrued interest, have been paid in full.;

 

(vi)
The FIRPTA Certificate pursuant to Section 1445(b)(2) of the United States Internal Revenue Code of 1986, as amended (the “Federal
Code”), and on which Purchaser is entitled to rely, that Seller is not a “foreign person” within the meaning of
Section 1445(f)(3) of the Federal Code;

 

(vii)
Original duly executed and dated instructions from Seller to the Title Company;

 

(viii)
An original duly executed and dated settlement statement signed by Seller, in a final form approved in advance by the Parties (“Settlement
Statement”);

 

    	15

     

    

 

(ix)
An original duly executed and dated tax forms, proration agreements, and like documents as are usual, customary, and/or necessary for
commercial real estate closings in the City of Logan, County of Cache, and/or State of Utah; and

 

(x)
Evidence satisfactory to Purchaser and the Title Company of Seller’s authority to enter into this Agreement and transfer the Property
in accordance with the provisions of this Agreement, including, without limitation, evidence of Seller’s respective receipt of
any and all necessary consents, approvals, ratifications, and/or joinders as may be necessary, required, or appropriate in connection
with this Agreement and/or transfer of the Property to Purchaser in accordance with this Agreement.

 

(b)
At or before the Closing, Purchaser shall deposit into escrow the following documents, agreements, and instruments (collectively, the
“Purchaser Closing Documents”):

 

(i)
An original duly executed, dated, and acknowledged General Assignment signed by Purchaser, in a final form consistent with Section
3.1(c);

 

(i)
Original duly executed, dated, and acknowledged instructions from Purchaser to the Title Company;

 

(ii)
An original duly executed and dated Settlement Statement signed by Purchaser, in a final form approved in advance by the Parties;

 

(iii)
Evidence satisfactory to Seller and the Title Company of Purchaser’s authority to enter into this Agreement and acquire the Property
in accordance with the provisions of this Agreement, including (without limitation) evidence of Purchaser’s respective receipt
of any and all necessary consents, approvals, ratifications, and/or joinders as may be necessary, required, or appropriate in connection
with this Agreement and/or transfer of the Property to Purchaser in accordance with this Agreement; and

 

(iv)
An original executed Assignment of Intangible Property, in a final form consistent with Section 7.2.

 

Section
8.4 Closing Costs. Seller shall be responsible for the payment of the premium for a standard owner’s policy of title
insurance issued by Title Company (Form 2006) for the Property in the insured amount of the Purchase Price (the “Owner’s
Title Policy”). Purchaser shall be responsible for the premiums and costs associated with any additional affirmative coverage,
endorsements, and extended coverage to the Owner’s Title Policy requested by Purchaser. The Parties shall each pay their own respective
attorneys’ fees. All recording fees on recordable documents shall be paid one-half (1/2) by each Party. All escrow, document preparation
fees, and closing costs charged by the Title Company shall be paid one-half (1/2) by each Party. Any closing costs not otherwise provided
for in this Agreement shall be paid by the Party legally responsible therefor or, if no law applies, according to prevailing custom for
commercial transactions in the City of Logan, County of Cache, and/or State of Utah.

 

    	16

     

    

 

Section
8.5 Revenues. At or before the Closing, Seller shall be entitled to all revenue generated from rents whether it be
security deposits, prepaid rent, accrued and collected rents and delinquent rents, income, revenues, and other payments attributable
to the Intangible Property during Seller’s period of ownership, operation, and leasing of the Property (if any) prorated,
based upon the number of days remaining in the month after the Closing and such amounts will be identified on the Settlement
Statement, if any (collectively, the “Revenues”) as Seller’s property. As of the Closing Date, Seller will
have taken all actions necessary to assure that the lease agreement with IBEX Corp. has been terminated and is of no further force
and effect (as provided further in Section 7.1 above). Seller reserves the right, but shall not be required to, pursue
collection of any delinquent Revenues that Seller is entitled to, which have not been assigned to Purchaser under the General
Assignment, and which have accrued prior to Closing. In the event that any delinquent Revenues are collected by either Party, each
Party shall only receive its pro rata share of such Revenues based upon the Closing Date proration.

 

Section
8.6 Condition of Property at Closing; Delivery of Keys. Seller agrees to deliver immediate possession of the Property to Purchaser
at Closing, free of any right of possession or claim to right of possession by any party other than Purchaser. Purchaser, prior to acceptance
of the Property at Closing, shall be permitted to inspect and confirm that the Property has been surrendered by IBEX Corp. in a condition
consistent with Purchaser’s prior investigations and due diligence and consistent with the express representations, warranties,
certificates, and covenants provided by Seller in this Agreement. At Closing, Seller shall furnish Purchaser with all keys and access
cards in Seller’s possession (if applicable) and shall provide written documentation for all security codes and combinations to
any security doors, safes, cabinets, elevators, and vaults located on the Property, including any and all operating manuals and warranties
to such security systems, safes, cabinets, elevators, and vaults that are in Seller’s possession, so that Purchaser has full and
unrestricted ability (after the Closing) to unlock, possess, occupy, use, and utilize the Property. Certain employees of IBEX Corp. who
are actually hired by Purchaser or its Assigns may retain access and/or keys and access cards to the Property as directed by Purchaser.
Except for those authorized parties identified in the preceding sentence, after Closing, Seller (and any of its employees, officers,
members, managers, shareholders, directors, agents, or assigns) shall not be permitted under any circumstance to retain or possess any
duplicate keys, access cards, security codes, or other related information concerning access to any portion of the Property.

 

Section
8.7 Ongoing Delivery of Documents and Information. Following the Closing, Seller agrees to promptly notify Purchaser of and
to transfer, assign, and deliver, as applicable, any and all documents, payments, or funds (except for any Revenues that Seller is entitled
to collect and retain under Section 8.5), or records defined as Tangible Property, Intangible Property, and any other documents,
payments or funds, or records that pertain to or are associated with the Property, to Purchaser within fourteen (14) calendar days of
Seller’s receipt of such documents, payments or funds, or records. Seller’s obligations under this Section 8.7 shall
survive the Closing. As of the Effective Date of this Agreement, all notices, documents, payments or funds, or records pertaining to
the Property shall be sent to:

 

	 	 	JP
                                            Lawrence Biomedical, Inc.

    Attn:
    Joshua Packer

    3890
    131st Ave NE

    Blaine,
    MN 55449

 

    	17

     

    

 

ARTICLE
IX

MISCELLANEOUS

 

Section
9.1 Notices. Any notices required or permitted to be given under this Agreement shall be given in writing and shall be delivered
(a) in person, (b) by certified mail, postage prepaid, return receipt requested, (c) by a commercial overnight courier that guarantees
next day delivery and provides a receipt, or (d) by e-mail, and such notices shall be addressed as follows:

 

	 	If
    to Seller:	PolarityTE,
                                            Inc.

    1960
    South 4250 West,

    Salt
    Lake City, Utah 84104

    Attention:
    Cameron Hoyler, J.D.

    General
    Counsel

    E-Mail:
    cameronhoyler@polartityte.com

	 	 	 
	 	If
    to Purchaser:	JP
                                            Lawrence Biomedical, Inc.

    Attn:
    Joshua Packer

    3890
    131st Ave NE

    Blaine,
    MN 55449

	 	 	 
	 	If
    to Title Company:	First
                                            American Title Insurance Company

    National
    Commercial Services

    Attention:
    Felicia Saez

    215
    South State Street, Suite 380

    Salt
    Lake City, Utah 84111

    E-Mail:
    fsaez@firstam.com

 

or
to such other address or addresses as a Party may from time-to-time specify in writing to the other Parties. Any notice shall be deemed
delivered when actually delivered, if such delivery is in person, upon deposit with the U.S. Postal Service, if such delivery is by certified
mail, upon deposit with the overnight courier service, if such delivery is by an overnight courier service, and upon transmission, if
such delivery is by email transmission.

 

Section
9.2 Entire Agreement. This Agreement, together with the exhibits attached hereto, and all other agreements, documents, and
instruments referenced in this Agreement, contain all of the representations, warranties, certifications, and covenants made by the Parties
and constitute the entire understanding between the Parties with respect to the subject matter hereof. Any prior correspondence, memoranda,
or agreements are replaced in total by this Agreement together with the exhibits hereto.

 

    	18

     

    

 

Section
9.3 Entry and Indemnity. In connection with any entry by Purchaser, or its authorized agents, employees, or contractors onto
those portions of the Property inspected by Purchaser in accordance with this Agreement, Purchaser shall give Seller reasonable advance
notice twenty-four (24) hours prior to such entry (which may be delivered in writing, by e-mail, or orally) and shall conduct such entry
and any inspections in connection therewith so as to minimize, to the extent reasonably possible, interference with the activities of
Seller and the existing tenant, which in some circumstances may mean that Seller may require more than twenty-four (24) hours’
notice to Seller prior to the performance of said inspections given the sensitive and confidential nature of Seller’s business
activities for its clients. Without limiting the foregoing, prior to any entry to perform any on-site testing, Purchaser shall give Seller
notice thereof, including the identity of the authorized company or persons who will perform such testing and a reasonable explanation
of the proposed scope of the testing. Purchaser shall indemnify and hold Seller harmless from and against any costs, damages, liabilities,
losses, expenses, liens, or claims arising out of or relating to any entry on the Property by Purchaser, its authorized agents, employees,
or contractors in the course of performing the inspections, testing, or inquiries provided for in this Agreement; provided, however,
that the foregoing indemnity shall not apply to (i) the mere discovery of a pre-existing condition unless caused by Purchaser, or (ii)
costs, damages, liabilities, losses, expenses, liens, or claims arising out of or relating to Seller’s negligence or willful misconduct.

 

Section
9.4 Time. Time is of the essence in the performance of each of the Parties’ respective obligations contained in this
Agreement.

 

Section
9.5 Attorneys’ Fees. If any litigation or binding arbitration proceeding is commenced between the Parties concerning
this Agreement and/or the rights and obligations of any Party in relation herewith (including, but not limited to, claims in contract,
tort, or equity), the Party prevailing in such litigation or binding arbitration proceeding, or the non-dismissing party in the event
of a dismissal, with or without prejudice, shall be entitled, in addition to such other relief as may be granted, to a reasonable sum
for any and all costs and expenses, including, without limitation, attorneys’ fees, expert witness fees, consultants’ fees,
court costs, cost of paralegals, accountants, business office expenses of any kind or nature, including, but not limited to, staff, traveling
expenses, telephone expenses, and any and all other costs and expenses of defense or prosecution incurred in connection therewith, whether
specified herein or not. Any such attorneys’ fees and other costs and expenses incurred by the prevailing or non-dismissing Party
in enforcing a judgment in its favor under this Agreement, whether or not suit is filed, may be recoverable separately from and in addition
to any other amount included in such judgment or award and such obligation is intended to be severable from the other provisions of this
Agreement and to survive and not be merged into any such judgment or award and, to the extent Purchaser is the prevailing or non-dismissing
Party, Purchaser may, at its election, credit such attorneys’ fees and all other costs and expenses against the Purchase Price.

 

    	19

     

    

 

Section
9.6 Assignment. Neither Party may assign any of its respective rights or interests under this Agreement to a third-party without
the prior written consent of the other Party, which shall not be unreasonably withheld. In the event this Agreement is assigned as provided
for above, this Agreement shall be binding upon and shall inure to the benefit of the successors and permitted assigns of the Parties
to this Agreement.

 

Section
9.7 Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original,
but all of which taken together shall constitute one and the same instrument. Executed counterparts of this Agreement may be transmitted
and delivered by the Parties by way of e-mail or other forms of electronic transmission.

 

Section
9.8 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Utah.

 

Section
9.9 Confidentiality. The Parties shall maintain as strictly confidential any and all non-public material obtained about Purchaser
and Seller and Purchaser’s intended use, operation, development, and other purposes for the Property and the Business, and shall
not disclose any economics or non-public information about the transactions contemplated in this Agreement or the Stock Purchase Agreement
to any third-parties, except for disclosures required by court order or subpoena or in connection with any litigation or other dispute
resolution proceedings between the Parties. In the event that the Closing does not occur in accordance with the terms of this Agreement,
all Parties shall return any documents, materials, or information regarding the Property supplied in accordance with this Agreement.
Any Parties in breach of this Section 9.9 agree to indemnify, defend, protect, and hold harmless those non-breaching Parties from
and against any and all claims arising out of any breach of this Section 9.9. This Section 9.9 shall survive the Closing
or any termination of this Agreement.

 

Section
9.10 Interpretation of Agreement. The article, section, and other headings of this Agreement are for convenience of reference
only and shall not be construed to affect the meaning of any provision contained in this Agreement. Where the context so requires, the
use of the singular shall include the plural and vice versa and the use of the masculine shall include the feminine and the neuter. The
term “person” shall include any individual, partnership, joint venture, corporation, trust, unincorporated association, any
other entity, and any government or any department or agency thereof, whether acting in an individual, fiduciary, or other capacity.

 

Section
9.11 Amendments. This Agreement may be amended or modified only by a written instrument signed by each of the Parties.

 

Section
9.12 No Recording. Neither this Agreement or any memorandum or short form thereof may be recorded by any of the Parties.

 

Section
9.13 Effective Date. As used in this Agreement, the term “Effective Date” shall mean the first date on
which both of the Parties shall have executed and delivered this Agreement.

 

Section
9.14 Submission not an Offer or Option. The submission of this Agreement or a summary of some or all of its provisions for
examination or negotiation by Seller or Purchaser does not constitute an offer by Seller or Purchaser to enter into an agreement to transfer,
purchase, or sell the Property, and neither Party shall be bound to the other with respect to any such transfer, purchase, or sale until
this Agreement is executed and delivered by each of Seller and Purchaser.

 

    	20

     

    

 

Section
9.15 Indemnities. In case any claim, action, or proceeding is brought, made, or initiated against a Party entitled to indemnification
under this Agreement (an “Indemnitee”) the Party providing indemnification (“Indemnitor”), upon
written notice from the Indemnitee, shall at its sole cost and expense, resist, or defend such claim, action, or proceeding by attorneys
reasonably approved by Indemnitee. Notwithstanding the foregoing, Indemnitee may retain its own attorneys, and Indemnitor shall pay the
reasonable fees and disbursements of such attorneys to defend or assist in defending any claim, action, or proceeding (i) if Indemnitee
shall have reasonably concluded that there may be a conflict of interest between Indemnitor and Indemnitee in the conduct of the defense
of such action, or (ii) such claim, action, or proceeding is for equitable relief against Indemnitee and no monetary damages are being
sought against Indemnitee. Indemnitor shall not settle any such claim, action, or proceeding against Indemnitee without the consent of
Indemnitee, which consent shall not be unreasonably withheld, conditioned, or delayed, if such settlement involves relief other than
the payment of money by Indemnitor.

 

Section
9.16 Construction. This Agreement shall not be construed more strictly against one Party than against any other Party merely
by virtue of the fact that it may have been prepared by counsel for one of the Parties.

 

Section
9.17 Time Computation. Unless otherwise provided in this Agreement, in computing a period of days for performance or payment
as provided hereunder, the first day shall be excluded and the last day shall be included. If the last day of any such period is Saturday,
Sunday, or on a day on which banking institutions in the State of Utah are authorized by law to close, the period shall extend to include
the next day which is not a Saturday, Sunday, or day on which banking institutions in the State of Utah are authorized by law to close.
Any performance or payment which may be taken or made under this Agreement must, unless otherwise indicated herein, be taken or made
prior to 5:00 p.m. (Mountain Standard Time) on the last day of the applicable period specified.

 

Section
9.18 Recitals. The Parties acknowledge and agree that the Recitals set forth in this Agreement are true, accurate, and correct
and are hereby made a part of this Agreement and are incorporated herein by this reference.

 

Section
9.19 Default.

 

(a)
Seller’s Default. If Seller fails or refuses to perform any of its obligations under this Agreement such that the purchase and
sale transactions contemplated under this Agreement are not consummated because of the inability, failure, or refusal, for whatever reason
whatsoever, by Seller to sell, transfer, and convey the Property in accordance with the terms and conditions of this Agreement or because
of any other fault of Seller or the non-satisfaction of a condition precedent in Section 2.4 above, and such failure or refusal
is not cured within ten (10) days after Seller’s receipt of notice of such failure from Purchaser, Purchaser shall have any legal
or equitable right or remedy of Purchaser against Seller, including, without limitation, the right to enforce specific performance of
Seller’s obligations under this Agreement. In addition, in the event of a Seller’s default (beyond any and all applicable
notice and cure periods) that results in the purchase and sale transaction contemplated under this Agreement not being consummated, Seller
shall reimburse Purchaser for any out-of-pocket expenses actually paid to subcontractors, vendors, consultants, attorneys, and suppliers
incurred by Purchaser in connection with the performance of Purchaser’s due diligence and investigations under Article II,
which reimbursement shall not exceed Twenty-Five Thousand Dollars and No/100 ($25,000.00) and shall promptly be paid by Seller upon receipt
from Purchaser of copies of all applicable invoices and reasonably requested back-up documentation.

 

(b)
Purchaser’s Default. If Purchaser fails or refuses to perform any of its obligations under this Agreement, and such failure or
refusal is not cured within ten (10) days after Purchaser’s receipt of notice of such failure from Seller, then Seller shall have
the right to elect to the payment of $10,000.00 as liquidated damages which shall constitute Seller’s sole and exclusive remedy
against Purchaser at law and in equity and shall be in lieu of the exercise by Seller of any other legal or equitable right or remedy
that Seller may have against Purchaser as a result of Purchaser’s default.

 

(c)
Cross Default. Certain obligations and liabilities of the Parties under this Agreement are further explained, established by, and outlined
under the Stock Purchase Agreement and any event of default under the provisions of the Stock Purchase Agreement shall automatically
be deemed a default under this Agreement.

 

[Intentionally
Blank – Signature Page to Follow]

 

    	21

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.

 

	SELLER:
    	 	PURCHASER:
    
	 	 	 
	IBEX
    PROPERTY LLC, 	 	JP
    Lawrence Land and Building LLC
	a
    Nevada limited liability company	 	a
    Utah limited liability company 
	 	 	 	 	 
	By:
    	/s/
    Jacob Patterson	 	By:	/s/
    Dr. Joshua Packer
	Print
    Name:
	Jacob
    Patterson	 	Print
    Name:	Dr.
    Joshua Packer
	Title:
    	Manager	 	Title:	Manager

 

    	22

     

    

 

exhibit
“a”

 

to

 

purchase
and sale agreement

 

 

 

Site
Plan

 

 

Note:
The above Site Plan and related images bordered in red are intended to be a general depiction of the Land and other relevant portions
of the Property. The Site Plan is not intended to be a fully comprehensive, accurate layout or legal description of the Land or any other
portions of the Property and the Site Plan is not intended to be inconsistent in any way with the terms, conditions, or obligations of
Seller to transfer the Land and Property as contemplated in the Purchase and Sale Agreement. The actual Land and Property to be transferred
and conveyed under the Purchase and Sale Agreement shall be accurately and properly identified, defined, and transferred according to
the terms and conditions of the Purchase and Sale Agreement.

 

    	A-1

     

    

 

exhibit
“B”

 

to

 

purchase
and sale agreement

 

 

 

Legal
Description of Land

 

The
real property referenced in the foregoing Purchase and Sale Agreement as the “Land” is located in the City of Logan, County
of Cache, State of Utah and is more particularly described as follows:

 

PARCEL
1 (Tax Parcel Nos. 05-102-0003):

 

LOT
3, RSI INVESTMENTS BUSINESS PARK SUBDIVISION, AS SHOWN BY THE OFFICIAL PLAT THEREOF, FILED JUNE 26, 2002, AS ENTRY NO. 791835, IN THE
OFFICE OF THE RECORDER OF CACHE COUNTY, UTAH.

 

LESS
THE FOLLOWING: BEGINNING AT THE SOUTHWEST CORNER OF SAID LOT 3 AND THENCE NORTH 00°16’57” EAST 67.69 FEET; THENCE SOUTH
89°56’38” EAST 196.97 FEET TO THE WEST LINE OF RSI STREET, A PRIVATE ROAD; THENCE SOUTH ALONG SAID STREET 33.65 FEET
TO A POINT OF CURVATURE; THENCE 35.77 FEET ALONG RSI STREET ON A CURVE TO THE LEFT WITH A RADIUS OF 66.00 FEET, INCLUDED ANGLE OF 31°03’09”
AND A LONG CHORD THAT BEARS SOUTH 15°31’35” EAST 35.33 FEET TO THE SOUTHEAST CORNER OF SAID LOT 3; THENCE NORTH 89°56’38”
WEST ALONG THE SOUTH LINE OF SAID LOT 3 206.76 FEET TO THE BEGINNING.

 

ALONG
A SHARED INTEREST IN AND TO THE PRIVATE DRIVE AS DESCRIBED AND DEPICTED ON THE OFFICIAL PLAT OF RSI INVESTMENT BUSINESS PARK SUBDIVISION.
(DISCLOSED BY A DEED FILED IN BOOK 1545, AT PAGE 631, IN THE OFFICE OF THE RECORDER OF CACHE COUNTY, UTAH).

 

PARCEL
2 (Tax Parcel Nos. 05-102-0004):

 

LOT
4, RSI INVESTMENTS BUSINESS PARK SUBDIVISION, AS SHOWN BY THE OFFICIAL PLAT THEREOF, FILED JUNE 26, 2002, AS ENTRY NO. 791835, IN THE
OFFICE OF THE RECORDER OF CACHE COUNTY, UTAH.

 

ALSO:
PART OF LOT 3, SAID SUBDIVISION DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHWEST CORNER OF LOT 4 AND THENCE NORTH 00°16’57”
EAST 67.69 FEET; THENCE SOUTH 89°56’38” EAST 196.97 FEET TO THE WEST LINE OF RSI STREET, A PRIVATE ROAD; THENCE SOUTH
ALONG SAID STREET 33.65 FEET TO A POINT OF CURVATURE; THENCE 35.77 FEET ALONG RSI STREET ON A CURVE TO THE LEFT WITH A RADIUS OF 66.00
FEET, INCLUDED ANGLE OF 31°03’09” AND A LONG CHORD THAT BEARS SOUTH 15°31’35” EAST 35.33 FEET TO THE
MOST NORTHERLY NORTHEAST CORNER OF SAID LOT 4; THENCE NORTH 89°56’38” WEST ALONG THE NORTH LINE OF SAID LOT 4 206.76
FEET TO THE BEGINNING.

 

ALSO:
A SHARED INTEREST IN AND TO THE PRIVATE DRIVE AS DESCRIBED AND DEPICTED ON THE OFFICIAL PLAT OF RSI INVESTMENT BUSINESS PARK SUBDIVISION.
(DISCLOSED BY A DEED FILED IN BOOK 1545, AT PAGE 631, IN THE OFFICE OF THE RECORDER OF CACHE COUNTY, UTAH.)

 

Property
Information: Consisting of approximately 1.75 combined gross acres.

 

Parcel
Identification Numbers: 05-102-0004 and 05-102-0003.

 

Property
Address: 1088 West 1400 North and 1072 West RSI Drive in Logan, Utah.

 

    	B-1

     

    

 

exhibit
“C”

to

purchase
and sale agreement

 

 

 

List
of Seller’s Disclosures

 

Seller
represents, warrants, covenants, and certifies to Purchaser that the “Seller’s Disclosures” as defined and contemplated
in the foregoing Purchase and Sale Agreement (“Agreement”) shall include, but not be limited to, each of the following
documents, instruments, and other items that are in Seller’s possession, based upon the knowledge, information, and belief of Seller
and its good faith best efforts to discover and locate such documents, instruments, and other items:

 

	I.	Financial
    Information about Property

 

	 	a.	Copies
    of written lease agreements shall be disclosed, furnished, and ratified to be valid and existing to Purchaser prior to the Closing
    Date, but shall be terminated as of the Closing Date as contemplated in the Agreement;
	 	 	 
	 	b.	Latest
    status report for any Intellectual Property transactions on the Property;
	 	 	 
	 	c.	Prior
    three (3) years of operating statements affecting any or all portions of the Property; and
	 	 	 
	 	d.	Prior
    three (3) years bills for real estate taxes, insurance, liability insurance, property insurance affecting any or all portions of
    the Property.

 

	II.	Operational
    Matters

 

	 	a.	Most
    recent utility bills for the Property, including all water and sewer, gas, electric, utility, telephone, and the like; and
	 	 	 
	 	b.	Copies
    of all service agreements, contracts, licenses, permits, or leases with any service providers or third-parties that affect or encumber
    the Property, including, any agreements related to fire/burglar alarm, cable/satellite dish, cleaning, extermination, landscaping,
    garbage or waste disposal, security service, snow removal, towing, property management, advertising, and the like.

 

	III.	Prorations

 

	 	a.	Financial
    information related to any and all of the following: taxes; insurance premiums; utility bills; transfer taxes; service contracts
    or other obligations or liabilities; supplies; existing title insurance; outstanding attorneys’ fees; environmental inspections,
    reports, and other tests. 

 

    	C-1

     

    

 

	IV.	Environmental
    and Engineering Reports

 

	 	a.	Structural
    engineering reports, special reviews, costs of any remediation, soils reports, utility availability or “will serve” commitments;
	 	 	 
	 	b.	Phase
    I or Phase II environmental reports or surveys;
	 	 	 
	 	c.	Asbestos,
    air-quality, or water-quality reports or surveys;
	 	 	 
	 	d.	Zoning
    and land use compliance letters and notices, including any parking requirements, variances, or conditional use permits; and
	 	 	 
	 	e.	Special
    government permits, requirements, or authorizations.

 

	V.	Title
    Documents

 

	 	a.	Existing
    owner’s policy of title insurance in favor of Seller;
	 	 	 
	 	b.	Title
    reports and most recent ALTA surveys, “as-built” surveys, or site plans;
	 	 	 
	 	c.	Any
    recorded leases, easements, use and restriction agreements, development agreements, mortgages, deeds of trust, judgments, or other
    documents of record;
	 	 	 
	 	d.	List
    of any existing rights of first refusal, purchase options, or similar agreements or arrangements in existence in connection with
    the Property;
	 	 	 
	 	e.	All
    non-disturbance agreements given by mortgagees, lessors, lenders, and the like; and
	 	 	 
	 	f.	All
    subordination/attornment agreements. 

 

	VI.	Property
    Condition and Compliance Information

 

	 	a.	Certificates
    of occupancy for all enclosed Improvements on the Property;
	 	 	 
	 	b.	As-built
    floor plans and specifications, vertical floor plans designating tenant locations and layouts, site plans, and building elevations;
	 	 	 
	 	c.	Government
    licenses and permits required to use, operate, and maintain the Property;
	 	 	 
	 	d.	Code
    violations listings or notices and/or variances and any pending appeals, if any;
	 	 	 
	 	e.	Inventory
    list of all Personal Property and other items on the Property, including, supplies, tools, furniture, equipment, and the like;
	 	 	 
	 	f.	Commercial
    property condition disclosure completed by Seller identifying and warranting any information known to Seller which would adversely
    or materially affect the use, operation, leasing, or ownership of the Property; and
	 	 	 
	 	g.	Preventative
    maintenance schedules.

 

    	C-2

     

    

 

	VII.	Leasing
    and Tenant Information

 

	 	a.	Full
    and complete copies of any and all leases and guarantees currently in force or outstanding on the Property, if any, including drafts
    of any proposed leases, guaranty agreements, amendments, or renewals;
	 	 	 
	 	b.	Full
    and complete copies of any and all estoppel certificates, subordination, non-disturbance and attornment agreements, work letters,
    licenses, subleases, side-letters, or the like currently in force or outstanding on the Property, including drafts of any proposed
    documents regarding the same;
	 	 	 
	 	c.	Schedule
    of any brokers/leasing commissions payable and/or claiming to be pending; and
	 	 	 
	 	d.	Description
    and summary of tenant improvement allowance.

 

	VIII.	Agreements
    and Contracts

 

	 	a.	Full
    and complete copies of any and all management agreements, brokerage agreements, leasing agreements, construction contracts, written
    warranties, development agreements, and any other agreements to which Seller is a party that affects the Property; and
	 	 	 
	 	b.	Budgets,
    operating statements, and expense allocations for all management agreements.

 

	IX.	Insurance

 

	 	a.	Full
    and complete copies of any and all casualty, extended risk, builder’s risk, liability, title, and other insurance policies
    maintained by Seller in connection with the Property and satisfactory verification, source documentation, and proof of payment, including,
    without limitation, copies of receipts and written verification that all premiums for such insurance policies have been paid in full;
    and
	 	 	 
	 	b.	Full
    and complete copies of any and all casualty, extended risk, builder’s risk, liability, title, and other insurance policies
    and insurance certificates maintained by existing tenants on the Property.

 

	X.	Real
    Estate Taxes

 

	 	a.	Written
    verification, source documents, and proof of payment in full of any and all delinquent real estate taxes and assessments levied,
    assessed, and charged by Cache County, the City of Logan, State of Utah, and any other applicable service district, governmental,
    or quasi-governmental agency having the power to levy against the Property, including, without limitation, copies of receipts and
    written verification that no amounts are owing;
	 	 	 
	 	b.	Any
    relevant correspondence between the real estate tax assessor’s and treasurer’s office for the City of Logan or County
    of Cache and Seller; and
	 	 	 
	 	c.	All
    tax maps affecting the Property.

 

    	C-3

     

    

 

exhibit
“D”

to

purchase
and sale agreement

 

 

 

Stock
Purchase Agreement

 

Attached
following this page.

 

    	D-1

     

    

 

STOCK
PURCHASE AGREEMENT

 

This
Stock Purchase Agreement (this “Agreement”) is entered into on April 14, 2022, by and among JP Lawrence Biomedical,
Inc., a Delaware corporation (“Buyer”), and Utah CRO Services, Inc., a Nevada corporation (“Seller”).
Buyer and Seller are referred to collectively herein as the “Parties.”

 

Seller
owns all of the outstanding capital stock of IBEX Preclinical Research, Inc., a Nevada corporation (“IBEX”). Seller
is a wholly owned subsidiary of PolarityTE, Inc., a Delaware corporation (“Parent”).

 

Concurrently
with the execution and delivery of this Agreement IBEX Property LLC, a Nevada corporation (“IBEX Property”), and Buyer
have executed and delivered that certain Real Estate Purchase and Sale Agreement (“Purchase Agreement”), wherein IBEX
Property has agreed to sell, transfer, and convey to Buyer all of the real property located at 1088 West 1400 North and 1072 West RSI
Drive in Logan, Utah, together with the rights pertaining thereto on the terms set forth in the Purchase Agreement attached hereto as
Exhibit A.

 

This
Agreement contemplates a transaction in which Buyer will purchase from Seller, and Seller will sell to Buyer, all of the outstanding
capital stock of IBEX in return for the Buyer Note.

 

Now,
therefore, in consideration of the premises and the mutual promises herein made, and in consideration of the representations, warranties,
and covenants herein contained, the Parties agree as follows.

 

Section
1. Definitions.

 

“Adverse
Consequences” means, subject to the limitations set forth in Section 8(f), all actions, suits, proceedings, hearings, investigations,
charges, complaints, claims, demands, injunctions, judgments, orders, decrees, rulings, damages, dues, penalties, fines, costs, reasonable
amounts paid in settlement, liabilities, obligations, taxes, liens, losses, expenses, and fees, including court costs and reasonable
attorneys’ fees and expenses.

 

“Affiliate”
has the meaning set forth in Rule 12b-2 of the regulations promulgated under the Securities Exchange Act.

 

“Affiliated
Group” means any affiliated group within the meaning of Code Section 1504(a), or any similar group defined under a similar
provision of state, local, or non-U.S. law.

 

“Buyer”
has the meaning set forth in the preface above.

 

“Buyer
Note” has the meaning set forth in Section 2(b) below.

 

“Cash”
means cash and cash equivalents (including marketable securities and short-term investments) applied on a basis consistent with the preparation
of the Financial Statements.

 

“Closing”
has the meaning set forth in Section 2(d) below.

 

“Closing
Date” has the meaning set forth in Section 2(d) below.

 

“Code”
means the Internal Revenue Code of 1986, as amended.

 

“Disclosure
Schedules” has the meaning set forth in Section 4 below.

 

    	 

     

    

 

“Employee
Benefit Plan” means any “employee benefit plan” (as such term is defined in ERISA Section 3(3)) and any other material
employee benefit plan, program or arrangement.

 

“Employee
Pension Benefit Plan” has the meaning set forth in ERISA Section 3(2).

 

“Employee
Welfare Benefit Plan” has the meaning set forth in ERISA Section 3(1).

 

“Environmental
Requirements” means all federal, state, local, and non-U.S. statutes, regulations, and ordinances concerning pollution or protection
of the environment, including all those relating to the presence, use, production, generation, handling, transportation, treatment, storage,
disposal, distribution, labeling, testing, processing, discharge, release, threatened release, control, or cleanup of any hazardous materials,
substances, or wastes, as such requirements are enacted and in effect on or prior to the Closing Date.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended.

 

“ERISA
Affiliate” means each entity that is treated as a single employer with IBEX for purposes of Code Section 414.

 

“Financial
Statements” has the meaning set forth in Section 4(g) below.

 

“IBEX”
has the meaning set forth in the preface above.

 

“IBEX
Share” means any share of the common stock, par value $0.01 per share, of IBEX.

 

“Income
Tax” means any federal, state, local, or non-U.S. income tax measured by or imposed on net income, including any interest,
penalty, or addition thereto, whether disputed or not.

 

“Income
Tax Return” means any return, declaration, report, claim for refund, or information return or statement relating to Income
Taxes, including any schedule or attachment thereto.

 

“Indemnified
Party” has the meaning set forth in Section 8(d) below.

 

“Indemnifying
Party” has the meaning set forth in Section 8(d) below.

 

“Knowledge”
means actual knowledge after reasonable investigation.

 

“Leased
Real Property” means all leasehold or sub-leasehold estates and other rights to use or occupy any land, buildings, structures,
improvements, fixtures, or other interest in real property that is used in the business of IBEX.

 

“Leases”
means all leases, subleases, licenses, concessions, and other agreements (written or oral), including all amendments, extensions, renewals,
guaranties, and other agreements with respect thereto, pursuant to which IBEX holds any Leased Real Property.

 

“Lien”
means any mortgage, pledge, lien, encumbrance, charge, or other security interest, other than (a) liens for taxes not yet due and payable
or for taxes that the taxpayer is contesting in good faith through appropriate proceedings, (b) purchase money liens and liens securing
rental payments under capital lease arrangements, and (c) other liens arising in the Ordinary Course of Business and not incurred in
connection with the borrowing of money.

 

    	2

     

    

 

“Material
Adverse Effect” or “Material Adverse Change” means any effect or change that would be materially adverse
to the business of IBEX in the long term, or to the ability of any Party to consummate timely the transactions contemplated hereby; provided
that none of the following shall be deemed to constitute, and none of the following shall be taken into account in determining whether
there has been, a Material Adverse Effect or Material Adverse Change: (a) any adverse change, event, development, or effect (whether
short-term or long-term) arising from or relating to (1) general business or economic conditions, including such conditions related to
the business of IBEX, (2) national or international political or social conditions, including the engagement by the United States in
hostilities, whether or not pursuant to the declaration of a national emergency or war, or the occurrence of any military or terrorist
attack upon the U.S., or any of its territories, possessions, or diplomatic or consular offices or upon any military installation, equipment
or personnel of the U.S., (3) financial, banking, or securities markets (including any disruption thereof and any decline in the price
of any security or any market index), (4) changes in laws, rules, regulations, orders, or other binding directives issued by any governmental
entity, or (5) the taking of any action contemplated by this Agreement and the other agreements contemplated hereby, (b) any failure
to meet a forecast (whether internal or published) of revenue, earnings, cash flow, or other data for any period or any change in such
a forecast, (c) any existing event, occurrence, or circumstance with respect to which Buyer has knowledge as of the date hereof, and
(d) any adverse change in or effect on the business of IBEX that is cured by Seller before the earlier of (1) the Closing Date and (2)
the date on which this Agreement is terminated pursuant to Section 10 hereof.

 

“Ordinary
Course of Business” means the ordinary course of business consistent with past custom and practice (including with respect
to quantity and frequency).

 

“Party”
has the meaning set forth in the preface above.

 

“Person”
means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a joint
venture, an unincorporated organization, any other business entity, or a governmental entity (or any department, agency, or political
subdivision thereof).

 

“Purchase
Price” has the meaning set forth in Section 2(b) below.

 

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

 

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

 

“Seller”
has the meaning set forth in the preface above.

 

“Tax”
or “Taxes” means any federal, state, local, or non-U.S. income, gross receipts, license, payroll, employment, excise,
severance, stamp, occupation, premium, windfall profits, environmental, customs duties, capital stock, franchise, profits, withholding,
social security (or similar), unemployment, disability, real property, personal property, sales, use, transfer, registration, value added,
alternative or add-on minimum, estimated, or other tax of any kind whatsoever, including any interest, penalty, or addition thereto,
whether disputed or not.

 

“Tax
Return” means any return, declaration, report, claim for refund, or information return or statement relating to Taxes, including
any schedule or attachment thereto, and including any amendment thereof.

 

“Third-Party
Claim” has the meaning set forth in Section 8(d) below.

 

    	3

     

    

 

“Transaction
Tax Deductions” means any item of loss or deduction resulting from or attributable to (i) transaction bonuses, change-in-control
payments, severance payments, retention payments, or similar payments made to employees or other service providers of IBEX, (ii) the
fees, expenses, and interest (including unamortized original issue discount and any other amounts treated as interest for federal income
Tax purposes and any prepayment penalty or breakage fees or accelerated deferred financing fees) incurred by IBEX with respect to the
payment of any indebtedness, (iii) the amount of investment banking, legal, and accounting fees and expenses paid or payable by IBEX,
(iv) accelerated vesting of Parent stock held by employees of IBEX , and (v) the amount of any deductions for federal income Tax purposes
as a result of the exercise or payment for cancellation of employee or other compensatory options, in each case arising in connection
with the transactions contemplated by this Agreement and as determined by the Seller in good faith.

 

Section
2. Purchase and Sale of IBEX Shares.

 

(a)
Basic Transaction. On and subject to the terms and conditions of this Agreement and subject to the satisfaction of all
closing conditions and contingencies set forth in the Purchase Agreement, Buyer agrees to purchase from Seller, and Seller agrees to
sell to Buyer, all of the IBEX Shares for the consideration specified below in this Section 2.

 

(b)
Purchase Price. Buyer agrees to pay to Seller at the Closing Four Hundred Thousand Dollars $400,000.00 (the “Purchase
Price”) by delivery of its promissory note (the “Buyer Note”) in the form of Exhibit B attached hereto
in the aggregate principal amount of $400,000.00.

 

(c)
Cash and Working Capital.

 

(i)
On or before the Closing Date Seller will cause IBEX to pay, offset, write-off, or otherwise settle all intercompany payables and receivables
between IBEX and Seller, including any Affiliates of Seller (the “Intercompany Closeout”), so that at Closing IBEX
shall not have any payment obligation to, or right to receive payment from, Seller or any of its Affiliates.

 

(ii)
Attached hereto as Schedule 2(c)(ii) is a schedule illustrating the method (the “Method”) for calculating the closing
date adjusted working capital of IBEX (“Adjusted Working Capital Schedule”). Seller will deliver to Buyer on the day
preceding the Closing, an estimated Adjusted Working Capital Schedule as of the Closing Date (the “Estimated WC Schedule”)
prepared in accordance with the Method, together with supporting detail for the values included in the Estimated WC Schedule. The Estimated
WC Schedule shall include cash of $175,000 and a positive difference between trade receivables (billed and unbilled) and current liabilities
greater than $500,000 (the “Estimated Receivables Excess”). No later than the 60th day after the Closing Date, Buyer
shall prepare and deliver to Seller the Closing Adjusted Working Capital Schedule (the “Final WC Schedule”) prepared
in accordance with the Method, together with supporting detail for the values included in the Final WC Schedule, and shall also deliver
to Seller a balance sheet as of the Closing Date. In preparing the Final WC Schedule, except for those items specifically provided for
in the Method, (i) any changes in assets or liabilities as a result of accounting adjustments and any and all other effects on the assets
or liabilities of IBEX of any financing or refinancing arrangements entered into by the Buyer at any time on or after the Closing Date
shall be entirely disregarded, and (ii) no plans, transactions, or changes that Buyer or IBEX intend to initiate or make or cause to
be initiated or made at or after the Closing Date with respect to the IBEX or its business or assets, and no facts or circumstances that
are unique or particular to Buyer or IBEX or any assets or liabilities of Buyer or IBEX, shall be taken into account.

 

    	4

     

    

 

(iii)
Immediately prior to the Closing, IBEX will assign to Seller (or an Affiliate of Seller designated by Seller) billed but uncollected
IBEX accounts receivables in an amount equal to the difference between the Estimated Receivables Excess and $500,000. If the Final WC
Schedule shows the difference between IBEX accounts receivables (billed and unbilled) and current IBEX liabilities greater than $500,000
(the “Final Receivables Excess”) is less than the Estimated Receivable Excess, Seller shall make payment of the difference
to IBEX within ten (10) days following Seller’s receipt of the Final WC Schedule. If the Final WC Schedule shows the difference
between the Final Receivables Excess is greater than the Estimated Receivable Excess, IBEX shall make payment of the difference to Seller
within ten (10) days following Seller’s receipt of the Final WC Schedule.

 

(iv)
For the purposes of calculating the Estimated Receivable Excess and Final Receivables Excess, any accounts receivables aged more than
sixty (60) days as of the date of Closing shall be written off as bad debt and not included in the calculation of Estimated Receivable
Excess and Final Receivables Excess.

 

(v)
After the Seller’s receipt of the Final WC Schedule and until the Final WC Schedule if finally accepted by Seller in accordance
with this Section 2(c)(v), Buyer and IBEX shall provide Buyer with access at all reasonable times to the properties, books, records,
work papers, and personnel of Buyer and IBEX and their accountants, and shall cause such personnel (including any members of management
of Buyer and IBEX) to cooperate and work in good faith with Seller, for purposes of reviewing the Final WC Schedule and its components
and determining the final value for the Final Receivables Excess. If Seller has any objections to the Final WC Schedule as prepared by
Buyer, Seller must, within 30 days after Seller’s receipt thereof, give written notice (the “Objection Notice”)
to Buyer specifying in reasonable detail such objections. If Seller does not deliver the Objection Notice within such 30-day period,
Buyer’s determination of the Final WC Schedule and Final Receivables Excess shall be final, binding, and conclusive on Buyer, Seller,
and IBEX. With respect to any disputed amounts, Seller and Buyer shall negotiate in good faith during the 30-day period (the “Resolution
Period”) after the date of Buyer’s receipt of the Objection Notice to resolve any such disputes.

 

(d)
Closing. The Parties agree that the Closing under this Agreement and the closing under the Purchase Agreement is contingent
upon Small Business Association loan approval and funding and will occur simultaneously at the same time, the same date (the “Closing
Date”), and same location provided for in the Purchase Agreement. 

 

(e)
Deliveries at Closing. At the Closing, (i) Seller shall deliver to Buyer the various certificates, instruments, and documents
referred to in Section 7(a) below, (ii) Buyer will deliver to Seller the various certificates, instruments, and documents referred to
in Section 7(b) below, (iii) Seller will deliver to Buyer stock certificates representing all of the IBEX Shares, endorsed in blank or
accompanied by duly executed assignment documents, and (iv) Buyer will deliver to Seller the consideration specified in Section 2(b)
above.

 

Section
3. Representations and Warranties Concerning Transaction.

 

(a)
Seller Representations and Warranties. Seller represents and warrants to Buyer that the statements contained in this Section
3(a) are correct and complete as of the date of this Agreement and will be correct and complete as of the Closing Date (as though made
then and as though the Closing Date were substituted for the date of this Agreement throughout this Section 3(a)) with respect to itself.

 

    	5

     

    

 

(i)
Organization of Seller. Seller is validly existing, and in good standing under the laws of the jurisdiction of its incorporation.

 

(ii)
Authorization of Transaction. Seller has full power and authority (including full corporate power and authority) to execute and
deliver this Agreement and to perform its obligations hereunder. This Agreement constitutes the valid and legally binding obligation
of Seller, enforceable in accordance with its terms and conditions. Seller need not give any notice to; make any filing with, or obtain
any authorization, consent, or approval of any government or governmental agency in order to consummate the transactions contemplated
by this Agreement. The execution, delivery, and performance of this Agreement and all other agreements contemplated hereby have been
duly authorized by Seller.

 

(iii)
Non-contravention. Neither the execution and delivery of this Agreement, nor the consummation of the transactions contemplated
hereby, will (A) violate any constitution, statute, regulation, rule, injunction, judgment, order, decree, ruling, charge, or other restriction
of any government, governmental agency, or court to which Seller is subject or any provision of its charter, bylaws, or other governing
documents, (B) conflict with, result in a breach of, constitute a default under, result in the acceleration of, create in any party the
right to accelerate, terminate, modify, or cancel, or require any notice under any agreement, contract, lease, license, instrument, or
other arrangement to which Seller is a party or by which it is bound or to which any its assets is subject, or (C) result in the imposition
or creation of a Lien upon or with respect to the IBEX Shares.

 

(iv)
Brokers’ Fees. Seller has no liability or obligation to pay any fees or commissions to any broker, finder, or agent with
respect to the transactions contemplated by this Agreement.

 

(v)
IBEX Shares. Seller holds of record and owns beneficially all of the issued and outstanding IBEX Shares free and clear of any
restrictions on transfer (other than restrictions under the Securities Act and state securities laws), taxes, Liens, options, warrants,
purchase rights, contracts, commitments, equities, claims, and demands. Seller is not a party to any option, warrant, purchase right,
or other contract or commitment (other than this Agreement) that could require Seller to sell, transfer, or otherwise dispose of any
capital stock of IBEX. Seller is not a party to any voting trust, proxy, or other agreement or understanding with respect to the voting
of any capital stock of IBEX.

 

(vi)
Legal Proceedings. There are no claims, actions, causes of action, demands, lawsuits, arbitrations, inquiries, audits, notices
of violation, proceedings, litigation, citations, summons, subpoenas, or investigations of any nature, whether at law or in equity (collectively,
“Actions”) pending or, to Seller’s Knowledge, threatened against or by IBEX, Seller, or any Affiliate of Seller:
(i) relating to or affecting IBEX Property or IBEX Shares; or (ii) that challenge or seek to prevent, enjoin, or otherwise delay the
transactions contemplated by this Agreement related to the IBEX Property or IBEX Shares. To Seller’s Knowledge, no event has occurred,
or circumstances exist that may give rise to, or serve as a basis for, any such Action that could adversely impact the IBEX Property
or IBEX Shares.

 

(vii)
Governmental Orders. There are no outstanding, and Seller is in compliance with all, Governmental Orders against, relating to,
or affecting the IBEX Shares and IBEX Property.

 

(b)
Buyer’s Representations and Warranties. Buyer represents and warrants to Seller that the statements contained in
this Section 3(b) are correct and complete as of the date of this Agreement and will be correct and complete as of the Closing Date (as
though made then and as though the Closing Date were substituted for the date of this Agreement throughout this Section 3(b)).

 

    	6

     

    

 

(i)
Organization of Buyer. Buyer is a corporation validly existing, and in good standing under the laws of the jurisdiction of its
incorporation.

 

(ii)
Authorization of Transaction. Buyer has full power and authority (including full corporate power and authority) to execute and
deliver this Agreement and to perform its obligations hereunder. This Agreement constitutes the valid and legally binding obligation
of Buyer, enforceable in accordance with its terms and conditions. Buyer need not give any notice to; make any filing with, or obtain
any authorization, consent, or approval of any government or governmental agency in order to consummate the transactions contemplated
by this Agreement. The execution, delivery and performance of this Agreement and all other agreements contemplated hereby have been duly
authorized by Buyer.

 

(iii)
Non-contravention. Neither the execution and delivery of this Agreement, nor the consummation of the transactions contemplated
hereby, will (A) violate any constitution, statute, regulation, rule, injunction, judgment, order, decree, ruling, charge, or other restriction
of any government, governmental agency, or court to which Buyer is subject or any provision of its charter, bylaws, or other governing
documents or (B) conflict with, result in a breach of, constitute a default under, result in the acceleration of, create in any party
the right to accelerate, terminate, modify, or cancel, or require any notice under any agreement, contract, lease, license, instrument,
or other arrangement to which Buyer is a party or by which it is bound or to which any of its assets is subject.

 

(iv)
Brokers’ Fees. Except as set forth on Schedule 3(b)(iv), Buyer has no liability or obligation to pay any fees or
commissions to any broker, finder, or agent with respect to the transactions contemplated by this Agreement.

 

(v)
Investment. Buyer is not acquiring the IBEX Shares with a view to or for sale in connection with any distribution thereof within
the meaning of the Securities Act.

 

Section
4. Representations and Warranties Concerning IBEX.

 

Seller
and IBEX represent and warrant to Buyer that the statements contained in this Section 4 are correct and complete as of the date of this
Agreement and will be correct and complete as of the Closing Date (as though made then and as though the Closing Date were substituted
for the date of this Agreement throughout this Section 4), except as set forth in the disclosure schedules (“Disclosure Schedules”)
delivered by Seller to Buyer on the date hereof in this subsection.

 

(a)
Organization, Qualification, and Corporate Power. IBEX is a corporation duly organized, validly existing, and in good standing
under the laws of the jurisdiction of its incorporation. IBEX is duly authorized to conduct business and is in good standing under the
laws of each jurisdiction where such qualification is required, except where the lack of such qualification would not have a Material
Adverse Effect. IBEX has full corporate power and authority to carry on the business in which it is engaged and to own and use the properties
owned and used by it. Schedule 4(a) of the Disclosure Schedule lists the directors and officers of IBEX.

 

(b)
Capitalization. The entire authorized capital stock of IBEX consists of 3,000 IBEX Shares, of which 3,000 IBEX Shares are issued
and outstanding. All of the issued and outstanding IBEX Shares have been duly authorized, are validly issued, fully paid, and non-assessable,
and are held of record by the Seller. There are no outstanding or authorized options, warrants, purchase rights, subscription rights,
conversion rights, exchange rights, or other contracts or commitments that could require IBEX to issue, sell, or otherwise cause to become
outstanding any of its capital stock. There are no outstanding or authorized stock appreciation, phantom stock, profit participation,
or similar rights with respect to IBEX.

 

    	7

     

    

 

(c)
Non-contravention. Neither the execution and delivery of this Agreement, nor the consummation of the transactions contemplated
hereby, will (i) violate any constitution, statute, regulation, rule, injunction, judgment, order, decree, ruling, charge, or other restriction
of any government, governmental agency, or court to which IBEX is subject or any provision of the charter or bylaws of IBEX or (ii) conflict
with, result in a breach of, constitute a default under, result in the acceleration of, create in any party the right to accelerate,
terminate, modify, or cancel, or require any notice under any agreement, contract, lease, license, instrument, or other arrangement to
which IBEX is a party or by which it is bound or to which any of its assets is subject (or result in the imposition of any Lien upon
any of its assets), except where the violation, conflict, breach, default, acceleration, termination, modification, cancellation, failure
to give notice, or Lien would not have a Material Adverse Effect. IBEX does not need to give any notice to; make any filing with, or
obtain any authorization, consent, or approval of any government or governmental agency in order for the Parties to consummate the transactions
contemplated by this Agreement, except where the failure to give notice, to file, or to obtain any authorization, consent, or approval
would not have a Material Adverse Effect.

 

(d)
Brokers’ Fees. IBEX has no liability or obligation to pay any fees or commissions to any broker, finder, or agent with respect
to the transactions contemplated by this Agreement.

 

(e)
Title to Tangible Assets. IBEX has good and marketable title to, or a valid leasehold interest in, the material tangible assets
it uses regularly in the conduct of its business.

 

(f)
Subsidiaries. IBEX does not own any capital stock, membership interest, partnership interest, or other equity right or interest
in any Person. 

 

(g)
Financial Statements. Provided under Section 4(g) of the Disclosure Schedule is the unaudited balance sheet of IBEX as
of the end of each year in the three-year period ended December 31, 2021, and its unaudited statements of income for each year in the
three-year period ended December 31, 2021 (the “Financial Statements”). The Financial Statements have been prepared
in a consistent manner throughout the periods reported and present fairly the financial condition of IBEX as of the date of each balance
sheet and the results of operations of IBEX for the period covered by each statement of income. Schedule 4(g) also includes a
report of all the IBEX accounts receivables by age (“Accounts Receivable Aging”) as of March 31, 2022.

 

(h)
Undisclosed Liabilities. IBEX has no liabilities, obligations, or commitments of any nature whatsoever, whether asserted, known,
absolute, accrued, matured, or otherwise (collectively, “Liabilities”), except: (a) those which are adequately reflected
or reserved against in the most recent balance sheet included in the Financial Statements; (b) those which have been incurred in the
ordinary course of business consistent with past practice since the date of the most recent balance sheet included in the Financial Statements;
(c) Liabilities for performance in the ordinary course of business by IBEX under IBEX contracts, including the reasonably expected performance
of such contracts in accordance with their terms; (d) Liabilities arising from the transition of ownership of IBEX from Seller to Buyer
including, but not limited to, the cost to Buyer and IBEX of establishing an accounting system, obtaining business and property insurance,
and establishing employee benefit plans; and (e) Liabilities incurred in connection with the transactions contemplated by this Agreement.

 

(i)
Events Subsequent to Financial Statements. Since the date of the most recent balance sheet included in the Financial Statements,
there has not been any Material Adverse Change.

 

    	8

     

    

 

(j)
Legal Compliance. To the Knowledge of Seller, IBEX has complied with all applicable laws (including rules, regulations, codes,
plans, injunctions, judgments, orders, decrees, rulings, and charges thereunder) of federal, state, local, and non-U.S. governments (and
all agencies thereof), except where the failure to comply would not have a Material Adverse Effect.

 

(k)
Tax Matters.

 

(i)
IBEX has not been a member of an Affiliated Group filing a consolidated federal income Tax Return other than a group the common parent
of which is Parent.

 

(ii)
The Affiliated group of which IBEX is a member has filed all Tax Returns that it was required to file for each taxable period during
which IBEX was a member of the group, and has paid all Taxes shown thereon as owing, except where a failure to file or pay Taxes would
not have a Material Adverse Effect. Section 4(j) of the Disclosure Schedule lists all Income Tax Returns filed with respect to Affiliated
Group of which IBEX is a member for taxable periods ended on or after January 1, 2019, indicates those Income Tax Returns that have been
audited, and indicates those Income Tax Returns that currently are the subject of audit.

 

(iii)
IBEX has no liability for the Taxes of any Person other than itself under Reg. §1.1502-6 (or any similar provision of state, local,
or non-U.S. law).

 

(l)
Real Property. IBEX does not own any interest in real property that is not Leased Real Property. Section 4(k) of the Disclosure
Schedule sets forth the address of each parcel of Leased Real Property, and a true and complete list of all Leases for each such parcel
of Leased Real Property. IBEX has delivered to Buyer a true and complete copy of each Lease document.

 

(m)
Contracts. Schedule 4(m) of the Disclosure Schedule lists all written contracts and other written agreements to which IBEX
is a party and the performance of which will involve consideration in excess of $50,000. Seller has delivered to Buyer a correct and
complete copy of each contract or other agreement (as amended to date) listed in Schedule 4(m) of the Disclosure Schedules.

 

(n)
Powers of Attorney. To the Knowledge of Seller, there are no outstanding powers of attorney executed on behalf of IBEX.

 

(o)
Litigation. IBEX is not (i) subject to any outstanding injunction, judgment, order, decree, ruling, or charge, or (ii) a party
to any action, suit, proceeding, hearing, or investigation of, in, or before any court or quasi-judicial or administrative agency of
any federal, state, local, or non-U.S. jurisdiction.

 

(p)
Employee Benefits.

 

(i)
Schedule 4(p) of the Disclosure Schedule lists each Employee Benefit Plan that IBEX maintains, to which IBEX contributes, or with respect
to which IBEX has any liability.

 

(A)
To the Knowledge of Seller, each such Employee Benefit Plan (and each related trust, insurance contract, or fund) has been maintained,
funded, and administered in accordance with the terms of such Employee Benefit Plan and complies in form and in operation in all respects
with the applicable requirements of ERISA and the Code, except where the failure to comply would not have a Material Adverse Effect.

 

(B)
All contributions (including all employer contributions and employee salary reduction contributions) that are due have been made to each
such Employee Benefit Plan that is an Employee Pension Benefit Plan. All premiums or other payments that are due have been paid with
respect to each such Employee Benefit Plan that is an Employee Welfare Benefit Plan.

 

    	9

     

    

 

(C)
Each such Employee Benefit Plan that is intended to meet the requirements of a “qualified plan” under Code Section 401(a)
has received a determination letter from the Internal Revenue Service to the effect that it meets the requirements of Code Section 401(a).

 

(ii)
IBEX does not maintain, sponsor, or contribute to any Employee Pension Benefit Plan that is a “defined benefit plan” (as
defined in ERISA Section 3(35)).

 

(q)
Employment Matters.

 

(i)
IBEX is not, and has not been, a party to or bound by any collective bargaining agreement or other Contract with a union or similar labor
organization (collectively, “Union”), and no Union has represented or purported to represent any employee of
IBEX. There has never been, nor has there been any threat of, any strike, work stoppage, slowdown, picketing, or other similar labor
disruption or dispute affecting the Company or any of its employees.

 

(ii)
IBEX is and has been in compliance with: (a) all applicable employment laws and agreements regarding hiring, employment, termination
of employment, mass layoffs, employment discrimination, harassment, retaliation, and reasonable accommodation, leaves of absence, terms
and conditions of employment, wages and hours of work, employee classification, employee health and safety, engagement and classification
of independent contractors, payroll taxes, and immigration with respect to all employees, independent contractors, and contingent workers;
and bi) all applicable laws relating to the relations between it and any labor organization, trade union, work council, or other body
representing employees of IBEX.

 

(r)
Environmental Matters.

 

(i)
To the Knowledge of Seller, IBEX is in compliance with Environmental Requirements, except for such non-compliance as would not have a
Material Adverse Effect.

 

(ii)
IBEX has not received any written notice regarding any actual or alleged material violation of Environmental Requirements, or any material
liabilities, including any investigatory, remedial, or corrective obligations, relating to IBEX or its facilities arising under Environmental
Requirements, the subject of which would have a Material Adverse Effect.

 

(iii)
This Section 4(r) contains the sole and exclusive representations and warranties of Seller with respect to any environmental matters,
including without limitation any arising under any Environmental Requirements.

 

(s)
Certain Business Relationships with IBEX. Except for the Lease for the Leased Real Property, Employee Benefit Plans made available
to IBEX employees through plans established by the Parent or its subsidiaries, and shared administrative services, none of Seller and
its Affiliates has been involved in any material business arrangement or relationship with IBEX within the past 12 months and none of
Seller and their Affiliates owns any material asset, tangible or intangible, that is used in the business of IBEX.

 

    	10

     

    

 

(t)
Insurance. Schedule 4(t) of the Disclosure Schedule lists all current policies or binders of insurance maintained by or for
the benefit of Seller and IBEX relating to the assets, business, operations, employees, officers, and directors of IBEX (collectively,
the “Insurance Policies”). Such Insurance Policies: (a) are in full force and effect; (b) are valid and binding in
accordance with their terms; (c) are provided by carriers who are financially solvent; and (d) have not been subject to any lapse in
coverage. Neither Seller nor any of its Affiliates (including IBEX) has received any written notice of cancellation of, premium increase
with respect to, or alteration of coverage under, any of such Insurance Policies. All premiums due on such Insurance Policies have been
paid. None of Seller or any of its Affiliates (including IBEX) is in default under, or has otherwise failed to comply with, in any material
respect, any provision contained in any Insurance Policy. The Insurance Policies are of the type and in the amounts customarily carried
by Persons conducting a business similar to IBEX and are sufficient for compliance with all applicable laws and contracts to which IBEX
is a party or by which it is bound.

 

Section
5. Pre-Closing Covenants.

 

The
Parties agree as follows with respect to the period between the execution of this Agreement and the Closing.

 

(a)
General. Each of the Parties will its reasonable best efforts to take all actions and to do all things necessary, proper, or advisable
in order to consummate and make effective the transactions contemplated by this Agreement (including satisfaction, but not waiver, of
the Closing conditions set forth in Section 7 below).

 

(b)
Notices and Consents. Seller shall cause IBEX to give any notices to third parties and shall cause IBEX to use its reasonable
best efforts to obtain any third-party consents, referred to in Section 4(c) above and the items set forth in Schedule 5(b) of the Disclosure
Schedule.

 

(c)
Operation of Business. Seller will not cause or permit IBEX to engage in any practice, take any action, or enter into any transaction
outside the Ordinary Course of Business.

 

(d)
Full Access. The Parties shall maintain as strictly confidential any and all non-public material obtained about Buyer and Seller
and Buyer’s intended use, operation, development, and other purposes for the business of IBEX, and shall not disclose any economics
or non-public information about the transactions contemplated in this Agreement or the Purchase Agreement to any third-parties, except
for disclosures required by court order or subpoena or in connection with any litigation or other dispute resolution proceedings between
the Parties. In the event that the Closing does not occur in accordance with the terms of this Agreement, all Parties shall return any
documents, materials, or information provided under this Section 5(d). Any Parties in breach of this Section 5(d) agree to indemnify,
defend, protect, and hold harmless those non-breaching Parties from and against any and all claims arising out of any breach of this
Section 5(d). This Section 5(d)shall survive the Closing or any termination of this Agreement.

 

(e)
Notice of Developments.

 

(i)
Seller may elect at any time to notify Buyer of any development causing a breach of any of the representations and warranties in Section
4 above. Unless Buyer has the right to terminate this Agreement pursuant to Section 9(a)(ii) below by reason of the development and exercises
that right within the period of 10 days referred to in Section 9(a)(ii) below, the written notice pursuant to this Section 5(e)(i) will
be deemed to have amended the Disclosure Schedule, to have qualified the representations and warranties contained in Section 4 above,
and to have cured any misrepresentation or breach of warranty that otherwise might have existed hereunder by reason of the development.

 

    	11

     

    

 

(ii)
Each Party will give prompt written notice to the other of any material adverse development causing a breach of any of its own representations
and warranties in Section 3 above. No disclosure by any Party pursuant to this Section 5(e)(ii), however, shall be deemed to amend or
supplement the Disclosure Schedule or to prevent or cure any misrepresentation or breach of warranty.

 

(f)
IBEX Employee Matters. Employees of IBEX will cease to be participants in any of the Employee Benefit Plans maintained by the
Parent or its Affiliates that include IBEX employees as participants following the Closing Date, including health insurance. Prior to
the Closing Date Buyer shall establish a health insurance plan for the employees of IBEX to be effective for employee enrollment at the
time health insurance in effect prior to Closing expires.

 

(g)
Cross Default. Certain obligations and liabilities of the Parties under this Agreement are further explained, established by,
and outlined under the Purchase Agreement and any event of default under the provisions of the Purchase Agreement shall automatically
be deemed a default under this Agreement. 

 

Section
6. Post-Closing Covenants.

 

The
Parties agree as follows with respect to the period following the Closing.

 

(a)
General. In case at any time after the Closing any further action is necessary or desirable to carry out the purposes of this
Agreement, each of the Parties will take such further action (including the execution and delivery of such further instruments and documents)
as the other Party reasonably may request, all at the sole cost and expense of the requesting Party (unless the requesting Party is entitled
to indemnification therefor under Section 8 below).

 

(b)
Litigation Support. Except as provided in Section 6(g) below, in the event and for so long as any Party actively is contesting
or defending against any action, suit, proceeding, hearing, investigation, charge, complaint, claim, or demand in connection with (i)
any transaction contemplated under this Agreement, or (ii) any fact, situation, circumstance, status, condition, activity, practice,
plan, occurrence, event, incident, action, failure to act, or transaction on or prior to the Closing Date involving IBEX, each Party
shall cooperate with the other Party or its counsel in the defense or contest, make available its personnel, and provide such testimony
and access to its books and records as shall be necessary in connection with the defense or contest, all at the sole cost and expense
of the contesting or defending Party (unless the contesting or defending Party is entitled to indemnification therefor under Section
8 below).

 

(d)
Non-Compete; Non-Solicitation Covenant.

 

(i)
For a period of five (5) years from and after the Closing Date Seller will not engage directly, or indirectly through any subsidiary
or the Parent, in any business that IBEX conducts as of the Closing Date in any geographic area in which IBEX conducts that business
as of the Closing Date; provided, however, that notwithstanding anything contrary in this Agreement, Seller and its Affiliates (including
any successor to the business or assets of Seller or its Affiliates) shall not be precluded from conducting any services, research, development,
or other preclinical work for its or their benefit in researching or developing any technology or product.

 

(ii)
For a period of five (5) years from and after the Closing Date, Seller shall not, and shall not permit any of its Affiliates to, directly
or indirectly, hire or solicit any current or former employee of IBEX or encourage any employee to leave IBEX’s employment, except
pursuant to a general solicitation which is not directed specifically to any such employees; provided, however, nothing in this Section
shall prevent Seller or any of its Affiliates from hiring: (a) any employee terminated by IBEX; or (b) after one hundred eighty (180)
days from the date of resignation, any employee that has resigned from IBEX. The Parties agree and acknowledge that Dr. Michael Larson
shall not be deemed an Affiliate of Seller for purposes of this covenant.

 

    	12

     

    

 

(iii)
Seller acknowledges that a breach or threatened breach of this Section would give rise to irreparable harm to Buyer, for which monetary
damages would not be an adequate remedy, and hereby agrees that in the event of a breach or a threatened breach by Seller of any such
obligations, Buyer shall, in addition to any and all other rights and remedies that may be available to it in respect of such breach,
be entitled to equitable relief, including a temporary restraining order, an injunction, or specific performance (without any requirement
to post bond).

 

(iv)
Seller acknowledges that the restrictions contained in this Section are reasonable and necessary to protect the legitimate interests
of Buyer and constitute a material inducement to Buyer to enter into this Agreement and consummate the transactions contemplated by this
Agreement. In the event that any covenant contained in this Section should ever be adjudicated to exceed the time, geographic, product
or service, or other limitations permitted by applicable law in any jurisdiction, then any court is expressly empowered to reform such
covenant, and such covenant shall be deemed reformed, in such jurisdiction to the maximum time, geographic, product or service, or other
limitations permitted by applicable law or such. The covenants contained in this Section and each provision hereof are severable and
distinct covenants and provisions. The invalidity or unenforceability of any such covenant or provision as written shall not invalidate
or render unenforceable the remaining covenants or provisions hereof, and any such invalidity or unenforceability in any jurisdiction
shall not invalidate or render unenforceable such covenant or provision in any other jurisdiction.

 

(e)
Confidentiality. From and after the Closing, Seller shall, and shall cause its Affiliates and its and their respective directors,
officers, employees, consultants, counsel, accountants, and other agents (collectively, “Representatives”) to, hold in confidence
any and all information, in any form, concerning IBEX, except to the extent that Seller can show that such information: (i) is generally
available to and known by the public through no fault of Seller, any of its Affiliates, or their respective Representatives; or (ii)
is lawfully acquired by Seller, any of its Affiliates, or their respective Representatives from and after the Closing from sources which
are not prohibited from disclosing such information by any obligation. If Seller or any of its Affiliates or their respective Representatives
are compelled to disclose any information by Governmental Order or law, Seller shall promptly notify Buyer in writing and shall disclose
only that portion of such information which is legally required to be disclosed; provided, however, Seller shall use reasonable best
efforts to obtain as promptly as possible an appropriate protective order or other reasonable assurance that confidential treatment will
be accorded such information. The Parties agree and acknowledge that Dr. Michael Larson shall not be deemed an Affiliate of Seller for
purposes of this covenant. The affiliation and restrictions of Dr. Michael Larsen shall be as outlined in that separate Consultation
Agreement signed by Buyer and Dr. Michael Larsen.

 

(f)
No Intermediary Transaction Tax Shelter. Buyer shall not take any action with respect to IBEX subsequent to the Closing that would
cause the transactions contemplated hereby to constitute part of a transaction that is the same as, or substantially similar to, the
“Intermediary Transaction Tax Shelter” described in Internal Revenue Service Notices 2001-16 and 2008-111.

 

(g)
Tax and Audit Cooperation. Buyer, IBEX, and Seller shall cooperate fully, as and to the extent reasonably requested by the other
Party, in connection with the filing of Tax Returns, any audit, litigation or other proceeding with respect to Taxes, and financial audit
of the books and records of IBEX for the period from the beginning of 2022 through the Closing Dat. Such cooperation shall include the
retention and (upon the other Party’s request) the provision of records and information that are reasonably relevant to any such
Tax or financial audit, litigation, or other proceeding and making employees available on a mutually convenient basis to provide additional
information and explanation of any material provided hereunder.

 

    	13

     

    

 

Section
7. Conditions to Obligation to Close.

 

(a)
Conditions to Buyer’s Obligation. Buyer’s obligation to consummate the transactions to be performed by it in connection
with the Closing is subject to satisfaction of the following conditions:

 

(i)
the representations and warranties set forth in Section 3(a) and Section 4 above shall be true and correct in all material respects at
and as of the Closing Date, except to the extent that such representations and warranties are qualified by the term “material,”
or contain terms such as “Material Adverse Effect” or “Material Adverse Change,” in which case such representations
and warranties (as so written, including the term “material” or “Material”) shall be true and correct in all
respects at and as of the Closing Date;

 

(ii)
Seller shall have performed and complied with all of its covenants hereunder in all material respects through the Closing, except to
the extent that such covenants are qualified by the term “material,” or contain terms such as “Material Adverse Effect”
or “Material Adverse Change,” in which case Seller shall have performed and complied with all of such covenants (as so written,
including the term “material” or “Material”) in all respects through the Closing;

 

(iii)
there shall not be any injunction, judgment, order, decree, ruling, or charge in effect preventing consummation of any of the transactions
contemplated by this Agreement;

 

(iv)
Seller shall have delivered to Buyer a certificate to the effect that each of the conditions specified above in Section 7(a)(i)-(iii)
is satisfied in all respects;

 

(v)
the Parties and IBEX shall have received all authorizations, consents, and approvals of governments and governmental agencies referred
to in Section 3(a)(ii), Section 3(b)(ii), and Section 4(c) above;

 

(vi)
Seller’s full and complete performance of all of its requirements, conditions, and obligations under the Purchase Agreement;

 

(vii)
Seller will cause to be delivered a certificate of the corporate secretary of the Parent regarding the approval and authorization for
Seller and IBEX to enter into the transactions contemplated by this Agreement and the Purchase Agreement in form and substance reasonably
satisfactory to Buyer; and

 

(vii)
all actions to be taken by Seller in connection with consummation of the transactions contemplated hereby and all certificates, instruments,
and other documents required to effectuate the transactions contemplated hereby will be reasonably satisfactory in form and substance
to Buyer.

 

Buyer
may waive any condition specified in this Section 7(a) if it executes a writing so stating at or prior to the Closing.

 

    	14

     

    

 

(b)
Conditions to Seller’s Obligation. Seller’s obligation to consummate the transactions to be performed by them in connection
with the Closing is subject to satisfaction of the following conditions:

 

(i)
the representations and warranties set forth in Section 3(b) above shall be true and correct in all material respects at and as of the
Closing Date, except to the extent that such representations and warranties are qualified by the term “material,” or contain
terms such as “Material Adverse Effect” or “Material Adverse Change,” in which case such representations and
warranties (as so written, including the term “material” or “Material”) shall be true and correct in all respects
at and as of the Closing Date;

 

(ii)
Buyer shall have performed and complied with all of its covenants hereunder in all material respects through the Closing, except to the
extent that such covenants are qualified by the term “material,” or contain the terms such as “Material Adverse Effect,”
or “Material Adverse Change,” in which case Buyer shall have performed and complied with all of such covenants (as so written,
including the term “material” or “Material”) in all respects through the Closing;

 

(iii)
there shall not be any injunction, judgment, order, decree, ruling, or charge in effect preventing consummation of any of the transactions
contemplated by this Agreement;

 

(iv)
Buyer shall have delivered to Seller a certificate to the effect that each of the conditions specified above in Section 7(b)(i)-(iii)
is satisfied in all respects;

 

(v)
the Parties and IBEX shall have received all authorizations, consents, and approvals of governments and governmental agencies referred
to in Section 3(a)(ii), Section 3(b)(ii), and Section 4(c) above; and

 

(vi)
Buyer’s full and complete performance of all of its requirements, conditions, and obligations under the Purchase Agreement; and

 

(vii)
all actions to be taken by Buyer in connection with consummation of the transactions contemplated hereby and all certificates, opinions,
instruments, and other documents required to effectuate the transactions contemplated hereby will be reasonably satisfactory in form
and substance to Seller.

 

Seller
may waive any condition specified in this Section 7(b) on behalf of all Seller if they execute a writing so stating at or prior to the
Closing.

 

Section
8. Remedies for Breaches of This Agreement.

 

(a)
Survival of Representations and Warranties. The Parties and IBEX agree that all of the representations and warranties of Seller
contained in Section 3 and 4 above shall survive the Closing hereunder (unless Buyer knew or had reason to know of any misrepresentation
or breach of warranty at the time of Closing) and shall expire eighteen (18) months after the Closing. The Buyer agree that all of the
representations and warranties of Buyer contained in Section 3 above shall survive the Closing hereunder (unless Seller knew or had reason
to know of any misrepresentation or breach of warranty at the time of Closing) and shall expire eighteen (18) months after the Closing.

 

(b)
Indemnification Provisions for Buyer’s Benefit.

 

(i)
In the event Seller breaches its representations, warranties, and covenants contained herein (other than the covenants in Section 2(a)
above and the representations and warranties in Section 3(a) above), and, provided that Buyer makes a written claim for indemnification
against Seller pursuant to Section 10(h) below before expiration of the applicable survival period set forth in Section 8(a) above, then
such survival period shall not expire with respect to such claim and Seller shall indemnify Buyer from and against any Adverse Consequences
Buyer shall suffer (but excluding any Adverse Consequences Buyer shall suffer after the end of any applicable survival period)
caused in any way by the breach. 

 

    	15

     

    

 

(ii)
Buyer will have no obligation to indemnify Seller from and against any Adverse Consequences until Seller has suffered Adverse Consequences
in the aggregate amount of $50,000 or more arising from, or otherwise related to, directly or indirectly, any of the representations,
warranties, and covenants contained herein. When the aggregate of such Adverse Consequences exceeds $50,000, the Seller shall be entitled
to indemnification against all Adverse Consequences incurred.

 

(iii)
The maximum liability of Seller to Buyer for any Adverse Consequences suffered by Buyer is the amount of the Note , so Buyer’s
total recovery from Seller under Sections 8(b)(i) or 8(b)(iv) is limited to that amount; and provided further that Seller shall have
the option of satisfying all or part of such Seller’s indemnity obligation that Seller may be required to pay under Sections 8(b)(i)
or 8(b)(iv) by notifying Buyer that Seller is reducing the principal amount outstanding under the Buyer Note, which will affect the timing
and amount of payments required under the Buyer Note in the same manner as if Buyer had made a permitted prepayment (without premium
or penalty) thereunder. 

 

(iv)
In the event Seller breaches any of its covenants in Section 2(a) above or any of its representations and warranties in Section 3(a)
above, and provided that Buyer makes a written claim for indemnification against such Seller pursuant to Section 10(j) below before expiration
of the applicable survival period set forth in Section 8(a) above, then such survival period shall not expire with respect to such claim
and such Seller shall indemnify Buyer from and against the entirety of any Adverse Consequences Buyer shall suffer through and after
the date of the claim for indemnification (but excluding any Adverse Consequences Buyer shall suffer after the end of any applicable
survival period) caused proximately by Seller’s breach.

 

(c)
Indemnification Provisions for Seller’s Benefit. In the event Buyer breaches any of its representations, warranties, and
covenants contained herein, and provided that Seller makes a written claim for indemnification against Buyer pursuant to Section 10(j)
below before expiration of the applicable survival period set forth in Section 8(a) above, then Buyer shall indemnify Seller from and
against any Adverse Consequences Seller shall suffer (but excluding any Adverse Consequences suffered after the end of any applicable
survival period) caused proximately by the breach.

 

(d)
Matters Involving Third Parties.

 

(i)
If any third party shall notify any Party (the “Indemnified Party”) with respect to any matter (a “Third-Party
Claim”) which may give rise to a claim for indemnification against any other Party (the “Indemnifying Party”)
under this Section 8, then the Indemnified Party shall promptly (and in any event within five business days after receiving notice of
the Third-Party Claim) notify each Indemnifying Party thereof in writing.

 

(ii)
Any Indemnifying Party will have the right at any time to assume and thereafter conduct the defense of the Third-Party Claim with counsel
of his, her, or its choice reasonably satisfactory to the Indemnified Party; provided, however, that the Indemnifying Party will not
consent to the entry of any judgment or enter into any settlement with respect to the Third-Party Claim without the prior written consent
of the Indemnified Party (not to be unreasonably withheld) unless the judgment or proposed settlement involves only the payment of money
damages and does not impose an injunction or other equitable relief upon the Indemnified Party.

 

    	16

     

    

 

(iii)
Unless and until an Indemnifying Party assumes the defense of the Third-Party Claim as provided in Section 8(d)(ii) above, however, the
Indemnified Party may defend against the Third-Party Claim in any manner it may reasonably deem appropriate.

 

(iv)
In no event will the Indemnified Party consent to the entry of any judgment on or enter into any settlement with respect to the Third-Party
Claim without the prior written consent of each of the Indemnifying Parties (not to be unreasonably withheld).

 

(e)
Determination of Adverse Consequences. All indemnification payments under this Section 8 shall be paid by the Indemnifying Party
net of any Tax benefits and insurance coverage that may be available to the Indemnified Party. All indemnification payments under this
Section 8 shall be deemed adjustments to the Purchase Price.

 

(f)
Waiver of Certain Damages. In no event shall any Party be entitled to recover or make a claim under this Agreement for any amounts
in respect of, and in no event shall “Adverse Consequences” be deemed to include, (i) punitive damages (unless payable to
a third party), (ii) consequential, incidental, special, or indirect damages, or (iii) lost profits, loss of future revenue or income,
or any diminution of value or similar damages based on “multiple of profits” or “multiple of cash flow” or other
valuation methodology, whether or not such damages were reasonably foreseeable or the Parties contemplated that such damages would be
a probable result of a breach of this Agreement.

 

(g)
Exclusive Remedy. Buyer and Seller acknowledge and agree that the foregoing indemnification provisions in this Section 8 shall
be the exclusive remedy of Buyer and Seller with respect to IBEX and the transactions contemplated by this Agreement unless otherwise
stated herein.

 

(h)
Environmental Remedies. Without limiting the generality of Section 8(f), above, Buyer understands and agrees that its right to
indemnification under Section 8(b) for breach of the representations and warranties contained in Section 4(q) hereof shall constitute
its sole and exclusive remedy against Seller with respect to any environmental, health, or safety matter relating to the past, current,
or future facilities, properties, or operations of IBEX and its predecessors or Affiliates, including any such matter arising under any
Environmental Requirements.

 

Section
8A. Tax Matters.

 

(a)
Tax-Sharing Agreements. Any tax-sharing agreement between Seller, Parent, and IBEX is terminated as of the Closing Date and shall
have no further effect for any taxable year (whether the current year, a future year, or a past year).

 

(b)
Taxes of Other Persons. Seller agrees to indemnify Buyer from and against its Allocable Portion of any Adverse Consequences Buyer
may suffer resulting from, arising out of, relating to, in the nature of, or caused by any Liability of IBEX for Taxes of any Person
other than IBEX under Reg. §1.1502-6 (or any similar provision of state, local, or non-U.S. law).

 

(c)
Returns for Periods Through the Closing Date. Parent shall include the income of IBEX (including any deferred items triggered
into income by Reg. §1.1502-13 and any excess loss account taken into income under Reg. §1.1502-19) on Parent’s consolidated
federal Income Tax Returns for all periods through the end of the Closing Date and pay any federal Income Taxes attributable to such
income. IBEX shall furnish Tax information to Parent for inclusion in Parent’s federal consolidated Income Tax Return for the period
that includes the Closing Date in accordance with past custom and practice of IBEX. The income of IBEX shall be apportioned to the period
up to and including the Closing Date and the period after the Closing Date by closing the books of IBEX as of the end of the Closing
Date.

 

    	17

     

    

 

(d)
Audits. Parent shall not settle any audit of a Parent consolidated federal income Tax Return to the extent that such return relates
to IBEX in a manner that would adversely affect IBEX after the Closing Date unless such settlement would be reasonable in the case of
a Person that owned IBEX both before and after the Closing Date.

 

(g)
Indemnification for Post-Closing Transactions. Buyer agrees to indemnify Parent and Seller for any additional tax owed by Parent
or Seller (including tax owed by Parent or Seller due to this indemnification payment) resulting from any transaction engaged in by IBEX
not in the ordinary course of business occurring on the Closing Date after Buyer’s purchase of the IBEX Shares.

 

(h)
Post-Closing Transactions not in Ordinary Course. Buyer, Seller, and Parent agree to report all transactions not in the ordinary
course of business occurring on the Closing Date after Buyer’s purchase of the IBEX Shares on Buyer’s federal Income Tax
Return to the extent permitted by Reg. §1.1502-76(b)(1)(ii)(B).

 

Section
9. Termination.

 

(a)
Termination of Agreement. The Parties may terminate this Agreement as provided below:

 

(i)
Buyer and Seller may terminate this Agreement by mutual written consent at any time prior to the Closing;

 

(ii)
Buyer may terminate this Agreement by giving written notice to Seller at any time prior to the Closing in the event (A) Seller has within
the then previous ten (10) days given Buyer any notice pursuant to Section 5(e)(i) above and (B) the development that is the subject
of the notice has had a Material Adverse Effect;

 

(iii)
Buyer may terminate this Agreement by giving written notice to Seller at any time prior to the Closing (A) in the event Seller has breached
any material representation, warranty, or covenant contained in this Agreement (other than the representations and warranties in Section
4 above) in any material respect, Buyer has notified Seller of the breach, and the breach has continued without cure for a period of
twenty (20) days after the notice of breach or (B) if the Closing shall not have occurred on or before May 16, 2022, by reason of the
failure of any condition precedent under Section 7(a) hereof (unless the failure results primarily from Buyer itself breaching any representation,
warranty, or covenant contained in this Agreement); and

 

(iv)
Seller may terminate this Agreement by giving written notice to Buyer at any time prior to the Closing (A) in the event Buyer has breached
any material representation, warranty, or covenant contained in this Agreement in any material respect, Seller has notified Buyer of
the breach, and the breach has continued without cure for a period of twenty (20) days after the notice of breach or (B) if the Closing
shall not have occurred on or before May 16, 2022, by reason of the failure of any condition precedent under Section 7(b) hereof (unless
the failure results primarily from Seller breaching any representation, warranty, or covenant contained in this Agreement).

 

In
the event that the Closing has not occurred within six (6) months of the Effective Date of this Agreement and the Parties have not earlier
terminated this Agreement pursuant to Section 9(a), the Agreement will terminate and unless otherwise specified herein the Parties shall
have no further responsibilities or obligations to each other.

 

(b)
Effect of Termination. If any Party terminates this Agreement pursuant to Section 9(a) above, all rights and obligations of the
Parties hereunder shall terminate without any liability of any Party to any other Party (except for any liability of any Party then in
breach); provided, however, that the confidentiality provisions contained in Section 5(d) above shall survive termination.

 

    	18

     

    

 

Section
10. Miscellaneous.

 

(a)
Press Releases and Public Announcements. No Party shall issue any press release or make any public announcement relating to the
subject matter of this Agreement prior to the Closing without the prior written approval of Buyer and Seller; provided, however, that
any Party may make any public disclosure it believes in good faith is required by applicable law or any listing or trading agreement
concerning its publicly traded securities (in which case the disclosing Party will use its reasonable best efforts to advise the other
Party prior to making the disclosure).

 

(b)
No Third-Party Beneficiaries. This Agreement shall not confer any rights or remedies upon any Person other than the Parties and
their respective successors and permitted assigns. The Parties agree and acknowledge that solely for purposes of Section 8A Parent is
a party to this Agreement and exercise any rights or remedies pertaining to Section 8A.

 

(d)
No Code Section 338 Election. Neither Buyer, IBEX, nor any of their Affiliates shall make any election under Code Section 338
with respect to the transactions contemplated by this Agreement.

 

(e)
Refunds and Other Transaction Tax Deduction Benefits. Any Tax refunds that are received by Buyer or IBEX, and any amounts credited
against Tax to which Buyer or IBEX become entitled, that relate to Tax periods or portions thereof ending on or before the Closing Date
and are attributable to Transaction Tax Deductions shall be for the account of Seller, and Buyer shall pay over to Seller any such refund
or the amount of any such credit within 10 days after receipt thereof or entitlement thereto. In addition, if Buyer or IBEX realizes
any reduction in its liability for Taxes with respect to any taxable period (or portion thereof) ending after the Closing Date resulting,
directly or indirectly, from a Transaction Tax Deduction, Buyer shall pay the amount of such reduction to Seller within 10 days after
realizing such reduction. Buyer and IBEX shall be deemed to realize a reduction in its Taxes as of the date the Tax Return that reflects
such reduction is filed. Buyer shall use its best efforts to, and cause IBEX to, prepare and file all Tax Returns in a manner that maximizes
the Tax benefits available as a result of the Transaction Tax Deductions.

 

(f)
Entire Agreement. This Agreement (including the documents referred to herein) constitutes the entire agreement among the Parties
and supersedes any prior understandings, agreements, or representations by or among the Parties, written or oral, to the extent they
relate in any way to the subject matter hereof.

 

(g)
Succession and Assignment. This Agreement shall be binding upon and inure to the benefit of the Parties named herein and their
respective successors and permitted assigns. No Party may assign either this Agreement or any of its rights, interests, or obligations
hereunder without the prior written approval of Buyer and Seller; provided, however, that Seller may (i) assign any or all of its rights
and interests hereunder to one or more of its Affiliates and (ii) designate one or more of its Affiliates to perform its obligations
hereunder.

 

(h)
Counterparts. This Agreement may be executed in one or more counterparts (including by means of facsimile), each of which shall
be deemed an original but all of which together will constitute one and the same instrument.

 

(i)
Headings. The section headings contained in this Agreement are inserted for convenience only and shall not affect in any way the
meaning or interpretation of this Agreement.

 

    	19

     

    

 

(j)
Notices. Any notices required or permitted to be given under this Agreement shall be given in writing and shall be delivered (a)
in person, (b) by certified mail, postage prepaid, return receipt requested, (c) by a commercial overnight courier that guarantees next
day delivery and provides a receipt, or (d) by e-mail, and such notices shall be addressed as follows: 

 

	 	If
                                            to Seller:

     

     
	PolarityTE,
                                            Inc.

    1960
    South 4250 West,

    Salt
    Lake City, Utah 84104

    Attention:
    Cameron Hoyler, J.D.

    General
    Counsel

    E-Mail:
    cameronhoyler@polartityte.com

	 	 	 
	 	If
    to Buyer:	JP
                                            Lawrence Biomedical, Inc.

    Freeman
    Lovell PLLC

    9980
    South 300 West, Suite 200

    Sandy,
    Utah 84070

    Attention:
    Karissa Wilcox.

    E-Mail:
    Karissa.Wilcox@freemanlovell.com

	 	 	 
	 	If
    to IBEX	IBEX
                                            Preclinical Research, Inc.

    1960
    South 4250 West,

    Salt
    Lake City, Utah 84104

    Attention:
    Cameron Hoyler, J.D.

    General
    Counsel

    E-Mail:
    cameronhoyler@polartityte.com

 

or
to such other address or addresses as a Party may from time-to-time specify in writing to the other Parties. Any notice shall be deemed
delivered when actually delivered, if such delivery is in person, upon deposit with the U.S. Postal Service, if such delivery is by certified
mail, upon deposit with the overnight courier service, if such delivery is by an overnight courier service, and upon transmission, if
such delivery is by email transmission.

 

(k)
Governing Law. This Agreement shall be governed by and construed in accordance with the domestic laws of the State of Utah without
giving effect to any choice or conflict of law provision or rule (whether of the State of Utah or any other jurisdiction) that would
cause the application of the laws of any jurisdiction other than the State of Utah.

 

(l)
Amendments and Waivers. No amendment of any provision of this Agreement shall be valid unless the same shall be in writing and
signed by Buyer and Seller. No waiver by any Party of any provision of this Agreement or any default, misrepresentation, or breach of
warranty or covenant hereunder, whether intentional or not, shall be valid unless the same shall be in writing and signed by the Party
making such waiver, nor shall such waiver be deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty
or covenant hereunder or affect in any way any rights arising by virtue of any prior or subsequent such occurrence.

 

(m)
Severability. Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction shall
not affect the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending
term or provision in any other situation or in any other jurisdiction.

 

    	20

     

    

 

(n)
Expenses. Each of Buyer, Seller, and IBEX will bear its own costs and expenses (including legal fees and expenses) incurred in
connection with this Agreement and the transactions contemplated hereby.

 

(o)
Jurisdiction; Attorneys’ Fees. 

 

(i)
Each of the Parties submits to the jurisdiction of any state or federal court sitting in the County of Salt Lake, State of Utah, in any
action or proceeding arising out of or relating to this Agreement and agrees that all claims in respect of the action or proceeding may
be heard and determined in any such court. Each Party also agrees not to bring any action or proceeding arising out of or relating to
this Agreement in any other court. Each of the Parties waives any defense of inconvenient forum to the maintenance of any action or proceeding
so brought and waives any bond, surety, or other security that might be required of any other Party with respect thereto. 

 

(ii)
If any litigation or binding arbitration proceeding is commenced between the Parties concerning this Agreement and/or the rights and
obligations of any Party in relation herewith (including, but not limited to, claims in contract, tort, or equity), the Party prevailing
in such litigation or binding arbitration proceeding, or the non-dismissing party in the event of a dismissal, with or without prejudice,
shall be entitled, in addition to such other relief as may be granted, to a reasonable sum for any and all costs and expenses, including,
without limitation, attorneys’ fees, expert witness fees, consultants’ fees, court costs, cost of paralegals, accountants,
business office expenses of any kind or nature, including, but not limited to, staff, traveling expenses, telephone expenses, and any
and all other costs and expenses of defense or prosecution incurred in connection therewith, whether specified herein or not. Any such
attorneys’ fees and other costs and expenses incurred by the prevailing or non-dismissing Party in enforcing a judgment in its
favor under this Agreement, whether or not suit is filed, may be recoverable separately from and in addition to any other amount included
in such judgment or award and such obligation is intended to be severable from the other provisions of this Agreement and to survive
and not be merged into any such judgment or award and, to the extent Buyer is the prevailing or non-dismissing Party, Buyer may, at its
election, credit such attorneys’ fees and all other costs and expenses against the Purchase Price.

 

(p)
Incorporation of Exhibits, Annexes, and Schedules. The Exhibits, Annexes, and Schedules identified in this Agreement are incorporated
herein by reference and made a part hereof.

 

    	21

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written.

 

	BUYER:	 	SELLER:
	 	 	 
	JP
    Lawrence Biomedical, Inc.	 	Utah
    CRO Services, Inc.
	 	 	 	 	 
	By:
    	 	 	By:
    	 
	Name:
    	Dr.
    Joshua Packer	 	Name:
    	Jacob
    Patterson
	Title:
    	President	 	Title:
    	Chief
    Financial Officer

 

PolarityTE,
Inc., is executing this Agreement solely for purposes of Section 8A and it has no right, duty, or obligation with respect to any other
provision of this Agreement.

 

POLARITYTE,
INC.

 

	By:
    	 	 
	Name:
    	Jacob
    Patterson	 
	Title:
    	Chief
    Financial Officer	 

 

IBEX
Preclinical Research, Inc., is executing this Agreement solely for purposes of Sections 4, 5, 6, 8A, 9, and 10, and it has no right,
duty, or obligation with respect to any other provision of this Agreement.

 

IBEX
Preclinical Research, Inc.

 

	By:
    	 	 
	Name:
    	Jacob
    Patterson	 
	Title:
    	Chief
    Financial Officer	 

 

    	22EX-4.1

 Exhibit 4.1 
  

 
  

 
 BROADCOM INC.

 4.926% SENIOR NOTES DUE 2037 
  

 
 INDENTURE

 Dated as of April 18, 2022 
  

 
 WILMINGTON
TRUST, NATIONAL ASSOCIATION 
 Trustee 
  

 
  

 
  

 CROSS-REFERENCE TABLE* 

 

			
	Trust Indenture Act Section	  	Indenture Section
	310(a)(1)	  	7.10
	      (a)(2)	  	7.10
	      (a)(3)	  	N.A.
	      (a)(4)	  	N.A.
	      (a)(5)	  	7.10
	      (b)	  	7.10
	      (c)	  	N.A.
	311(a)	  	7.11
	      (b)	  	7.11
	      (c)	  	N.A.
	312(a)	  	2.05
	      (b)	  	12.03
	      (c)	  	12.03
	313(a)	  	7.06
	      (b)(2)	  	7.06; 7.07
	      (c)	  	7.06; 12.02
	      (d)	  	7.06
	314(a)	  	4.03; 12.02; 12.05
	      (c)(1)	  	12.04
	      (c)(2)	  	12.04
	      (c)(3)	  	N.A.
	      (e)	  	12.05
	      (f)	  	N.A.
	315(a)	  	N.A
	      (b)	  	12.02
	      (c)	  	N.A
	      (d)	  	N.A.
	      (e)	  	N.A.
	316(a) (last sentence)	  	N.A.
	      (a)(1)(A)	  	N.A.
	      (a)(1)(B)	  	N.A.
	      (a)(2)	  	N.A.
	      (b)	  	N.A.
	      (c)	  	N.A.
	317(a)(1)	  	N.A.
	      (a)(2)	  	N.A.
	      (b)	  	N.A.
	318(a)	  	12.01
	      (b)	  	N.A.
	      (c)	  	12.01

  

	N.A.	 means not applicable. 

	*	 This Cross Reference Table is not part of the Indenture. 

 TABLE OF CONTENTS 
  

							
	 ARTICLE 1.
	  			
	 DEFINITIONS AND INCORPORATION BY REFERENCE
	  			
			
	 Section 1.01
	 	Definitions	  	 	1	 
	 Section 1.02
	 	Other Definitions	  	 	11	 
	 Section 1.03
	 	Incorporation by Reference of Trust Indenture Act	  	 	11	 
	 Section 1.04
	 	Rules of Construction	  	 	12	 
		
	 ARTICLE 2.
	  			
	 THE NOTES
	  			
			
	 Section 2.01
	 	Form and Dating	  	 	12	 
	 Section 2.02
	 	Execution and Authentication	  	 	13	 
	 Section 2.03
	 	Registrar and Paying Agent	  	 	14	 
	 Section 2.04
	 	Paying Agent to Hold Money in Trust	  	 	14	 
	 Section 2.05
	 	Holder Lists	  	 	14	 
	 Section 2.06
	 	Transfer and Exchange	  	 	15	 
	 Section 2.07
	 	Replacement Notes	  	 	27	 
	 Section 2.08
	 	Outstanding Notes	  	 	27	 
	 Section 2.09
	 	Treasury Notes	  	 	27	 
	 Section 2.10
	 	Temporary Notes	  	 	28	 
	 Section 2.11
	 	Cancellation	  	 	28	 
	 Section 2.12
	 	Defaulted Interest	  	 	28	 
	 Section 2.13
	 	Additional Amounts	  	 	29	 
		
	 ARTICLE 3.
	  			
	 REDEMPTION AND PREPAYMENT
	  			
			
	 Section 3.01
	 	Notices to Trustee	  	 	31	 
	 Section 3.02
	 	Selection of Notes to Be Redeemed or Purchased	  	 	31	 
	 Section 3.03
	 	Notice of Redemption	  	 	32	 
	 Section 3.04
	 	Effect of Notice of Redemption	  	 	33	 
	 Section 3.05
	 	Deposit of Redemption or Purchase Price	  	 	33	 
	 Section 3.06
	 	Notes Redeemed or Purchased in Part	  	 	33	 
	 Section 3.07
	 	Optional Redemption	  	 	33	 
	 Section 3.08
	 	Mandatory Redemption	  	 	34	 
	 Section 3.09
	 	Redemption for Taxation Reasons	  	 	34	 
		
	 ARTICLE 4.
	  			
	 COVENANTS
	  			
			
	 Section 4.01
	 	Payment of Notes	  	 	35	 
	 Section 4.02
	 	Maintenance of Office or Agency	  	 	35	 
	 Section 4.03
	 	Reports	  	 	36	 
	 Section 4.04
	 	Compliance Certificate	  	 	36	 
	 Section 4.05
	 	Taxes	  	 	36	 
	 Section 4.06
	 	Stay, Extension and Usury Laws	  	 	37	 
	 Section 4.07
	 	Corporate Existence	  	 	37	 
	 Section 4.08
	 	Limitation on Secured Debt	  	 	37	 
	 Section 4.09
	 	Offer to Purchase Upon Change of Control Triggering Event	  	 	38	 
	 Section 4.10
	 	Limitation on Sale and Lease-back Transactions	  	 	39	 
	 Section 4.11
	 	Exempted Indebtedness	  	 	40	 
	 Section 4.12
	 	Classification	  	 	40	 

  

							
	 ARTICLE 5.
	  			
	 SUCCESSORS
	  			
			
	 Section 5.01
	 	Merger, Consolidation or Sale of Assets	  	 	40	 
	 Section 5.02
	 	Successor Corporation Substituted	  	 	41	 
		
	 ARTICLE 6.
	  			
	 DEFAULTS AND REMEDIES
	  			
			
	 Section 6.01
	 	Events of Default	  	 	41	 
	 Section 6.02
	 	Acceleration of Maturity; Rescission and Annulment	  	 	42	 
	 Section 6.03
	 	Collection of Indebtedness and Suits for Enforcement by Trustee	  	 	44	 
	 Section 6.04
	 	Trustee May File Proofs of Claim	  	 	44	 
	 Section 6.05
	 	Trustee May Enforce Claims Without Possession of Notes	  	 	44	 
	 Section 6.06
	 	Application of Money Collected	  	 	45	 
	 Section 6.07
	 	Limitation on Suits	  	 	45	 
	 Section 6.08
	 	Unconditional Right of Holders to Receive Principal, Premium and Interest	  	 	45	 
	 Section 6.09
	 	Restoration of Rights and Remedies	  	 	46	 
	 Section 6.10
	 	Rights and Remedies Cumulative	  	 	46	 
	 Section 6.11
	 	Delay or Omission Not Waiver	  	 	46	 
	 Section 6.12
	 	Control by Holders	  	 	46	 
	 Section 6.13
	 	Waiver of Past Defaults	  	 	46	 
	 Section 6.14
	 	Undertaking for Costs	  	 	47	 
		
	 ARTICLE 7.
	  			
	 TRUSTEE
	  			
			
	 Section 7.01
	 	Duties of Trustee	  	 	47	 
	 Section 7.02
	 	Rights of Trustee	  	 	48	 
	 Section 7.03
	 	Individual Rights of Trustee	  	 	49	 
	 Section 7.04
	 	Trustee’s Disclaimer	  	 	50	 
	 Section 7.05
	 	Notice of Defaults	  	 	50	 
	 Section 7.06
	 	Reports by Trustee to Holders of the Notes	  	 	50	 
	 Section 7.07
	 	Compensation and Indemnity	  	 	50	 
	 Section 7.08
	 	Replacement of Trustee	  	 	51	 
	 Section 7.09
	 	Successor Trustee by Merger, etc.	  	 	52	 
	 Section 7.10
	 	Eligibility; Disqualification	  	 	52	 
	 Section 7.11
	 	Preferential Collection of Claims Against Issuer	  	 	52	 
		
	 ARTICLE 8.
	  			
	 LEGAL DEFEASANCE AND COVENANT DEFEASANCE
	  			
			
	 Section 8.01
	 	Option to Effect Legal Defeasance or Covenant Defeasance	  	 	53	 
	 Section 8.02
	 	Legal Defeasance and Discharge	  	 	53	 
	 Section 8.03
	 	Covenant Defeasance	  	 	53	 
	 Section 8.04
	 	Conditions to Legal or Covenant Defeasance	  	 	54	 
	 Section 8.05
	 	Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions	  	 	55	 
	 Section 8.06
	 	Repayment to the Issuer	  	 	56	 
	 Section 8.07
	 	Reinstatement	  	 	56	 

  
 ii 

							
	 ARTICLE 9.
	  			
	 AMENDMENT, SUPPLEMENT AND WAIVER
	  			
			
	 Section 9.01
	 	Without Consent of Holders of Notes	  	 	56	 
	 Section 9.02
	 	With Consent of Holders of Notes	  	 	57	 
	 Section 9.03
	 	Compliance with Trust Indenture Act	  	 	58	 
	 Section 9.04
	 	Revocation and Effect of Consents	  	 	58	 
	 Section 9.05
	 	Notation on or Exchange of Notes	  	 	58	 
	 Section 9.06
	 	Trustee to Sign Amendments, etc.	  	 	59	 
		
	 ARTICLE 10.
	  			
	 SATISFACTION AND DISCHARGE
	  			
			
	 Section 10.01
	 	Satisfaction and Discharge	  	 	59	 
	 Section 10.02
	 	Application of Trust Money	  	 	60	 
		
	 ARTICLE 11.
	  			
	 [RESERVED.]
	  			
		
	 ARTICLE 12.
	  			
	 MISCELLANEOUS
	  			
			
	 Section 12.01
	 	Trust Indenture Act Controls	  	 	60	 
	 Section 12.02
	 	Notices	  	 	60	 
	 Section 12.03
	 	Communication by Holders of Notes with Other Holders of Notes	  	 	62	 
	 Section 12.04
	 	Certificate and Opinion as to Conditions Precedent	  	 	62	 
	 Section 12.05
	 	Statements Required in Certificate or Opinion	  	 	62	 
	 Section 12.06
	 	Rules by Trustee and Agents	  	 	62	 
	 Section 12.07
	 	No Personal Liability of Directors, Officers, Employees and Stockholders	  	 	63	 
	 Section 12.08
	 	Governing Law	  	 	63	 
	 Section 12.09
	 	Consent to Jurisdiction	  	 	63	 
	 Section 12.10
	 	Waiver of Immunity	  	 	63	 
	 Section 12.11
	 	Judgment Currency	  	 	63	 
	 Section 12.12
	 	No Adverse Interpretation of Other Agreements	  	 	64	 
	 Section 12.13
	 	Successors	  	 	64	 
	 Section 12.14
	 	Severability	  	 	64	 
	 Section 12.15
	 	Counterpart Originals	  	 	64	 
	 Section 12.16
	 	USA PATRIOT Act	  	 	64	 
	 Section 12.17
	 	Legal Holidays	  	 	64	 
	 Section 12.18
	 	Table of Contents, Headings, etc.	  	 	65	 
		
	 EXHIBITS
	  			
			
	Exhibit A	 	FORM OF 2037 NOTE	  	 	 
	Exhibit B	 	FORM OF CERTIFICATE OF TRANSFER	  	 	 
	Exhibit C	 	FORM OF CERTIFICATE OF EXCHANGE	  	 	 
	Exhibit D	 	FORM OF NET SHORT REPRESENTATION	  	 	 

  
 iii 

 INDENTURE dated as of April 18, 2022 between Broadcom Inc., a Delaware corporation, as
issuer (the “Issuer”) and Wilmington Trust, National Association, as trustee (as further defined below, the “Trustee”). 

The Issuer and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders (as defined
below) of the Issuer’s 4.926% Senior Notes due 2037 (the “Notes”). 
 ARTICLE 1. 

DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01 Definitions. 

“144A Global Note” means a Global Note substantially in the form of Exhibit A hereto bearing the Global Note Legend and the
Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee issued in denominations equal to the outstanding aggregate principal amount of the Notes sold in reliance on Rule 144A. 

“Additional Interest” means certain additional amounts of interest then owing to the Holders pursuant to the Registration
Rights Agreement. Unless the context otherwise requires, all references to “interest” in this Indenture or the Notes include Additional Interest, if any, payable pursuant to the Registration Rights Agreement. The Trustee shall have no
obligation to calculate or verify the calculation of Additional Interest. 
 “Additional Notes” means additional Notes
(other than the Initial Notes), issued under this Indenture in accordance with Section 2.01 and Section 2.02 hereof, which Additional Notes shall be part of the same series as the Initial Notes and shall be treated as a single series for
all purposes under this Indenture. 
 “Affiliate” of any specified Person means any other Person directly or indirectly
controlling or controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, “control,” as used with respect to any Person, means the possession, directly or indirectly, of the
power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. For purposes of this definition, the terms “controlling,”
“controlled by” and “under common control with” have correlative meanings. 
 “Agent”
means any Registrar, co-registrar, Paying Agent or additional paying agent. 
 “Applicable
Procedures” means, with respect to any transfer or exchange of or for beneficial interests in any Global Note, the rules and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer or exchange. 

“Attributable Liens,” means, in connection with a Sale and Lease-back Transaction, the lesser of: 

 

	 	(1)	 the fair market value of the assets subject to such transaction (as determined in good faith by the Board of
Directors of the Issuer or a committee thereof); and 

  

	 	(2)	 the present value (discounted at a rate per annum equal to the average interest borne by all outstanding debt
securities issued under this Indenture (which may include debt securities in addition to the Notes) determined on a weighted average basis and compounded semi-annually) of the obligations of the lessee for rental payments during the term of the
related lease. 

  
 1 

 “Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state
law for the relief of debtors. 
 “Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any particular “person” (as that term is used in
Section 13(d)(3) of the Exchange Act), such “person” will be deemed to have beneficial ownership of all securities that such “person” has the right to acquire by conversion or exercise of other securities, whether
such right is currently exercisable or is exercisable only after the passage of time. The term “Beneficial Ownership” has a corresponding meaning. 

“Board of Directors” means: 

(1) with respect to a corporation or exempted company, the board of directors of the corporation or exempted company or any
committee thereof duly authorized to act on behalf of such board; 
 (2) with respect to a partnership, the board of
directors of the general partner of the partnership; 
 (3) with respect to a limited liability company, the manager,
managing member or members or any controlling committee of managing members thereof; and 
 (4) with respect to any other
Person, the board or committee of such Person serving a similar function. 
 “Broker-Dealer” has the meaning set forth in
the Registration Rights Agreement. 
 “Business Day” means unless otherwise provided, any day except a Saturday, Sunday or
a legal holiday in The City of New York or a place of payment on which banking institutions are authorized or required by law, regulation or executive order to close. 

“Capital Stock” means: 

(1) in the case of a corporation, corporate stock; 

(2) in the case of an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated and whether or not voting) of corporate stock, including each class of common stock and preferred stock of such Person; and 

(3) in the case of a partnership or limited liability company, partnership or membership interests (whether general or
limited). 
 “Change of Control” means the occurrence of any of the following: 

(1) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in
one or more series of related transactions, of all or substantially all of the Issuer’s assets and the assets of its Subsidiaries taken as a whole to any “person” (as that term is defined in Section 13(d)(3) of the Exchange Act)
(other than to the Issuer or one of its Subsidiaries); 

  
 2 

 (2) the consummation of any transaction (including, without limitation, any
merger or consolidation) the result of which is that any “person” or “group” of related persons (as such terms are defined in Section 13(d)(3) of the Exchange Act) other than (a) the Issuer or one of its
Subsidiaries or (b) any employee benefit plan of such person or its Subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan becomes the “beneficial owner”
(as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the Issuer’s Voting Stock or other Voting Stock into which
its Voting Stock is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of shares; 

(3) the Issuer consolidates with or merges with or into, any Person, or any Person consolidates with or merges with or into,
the Issuer, in any such event pursuant to a transaction in which any of the Issuer’s outstanding Voting Stock or of such other Person is converted into or exchanged for cash, securities or other property; or 

(4) the adoption of a plan relating to the liquidation or dissolution of the Issuer in connection with a bankruptcy or
insolvency proceeding. 
 Notwithstanding the foregoing, a transaction will not be deemed to involve a Change of Control if (A) the Issuer becomes a
direct or indirect wholly-owned Subsidiary of another Person and (B) (i) the shares of the Issuer’s Voting Stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting
Stock of such Person immediately after giving effect to such transaction; or (ii) immediately following that transaction no Person (other than a Person satisfying the requirements of this sentence) is the Beneficial Owner, directly or
indirectly, of more than 50% of the Voting Stock of such Person. 
 “Change of Control Triggering Event” means the
occurrence of both a Change of Control and a Rating Event. 
 “Clearstream” means Clearstream Banking S.A. 

“Close of Business” means 5:00 p.m., New York City time. 

“Code” means the U.S. Internal Revenue Code of 1986, as amended. 

“Consolidated Net Tangible Assets” of any specified Person means, as of any date on which the Issuer or any of its
Subsidiaries effects a transaction requiring such Consolidated Net Tangible Assets to be measured hereunder, the aggregate amount of all assets of such Person and its Subsidiaries on a consolidated basis (less applicable reserves) after deducting
therefrom: (a) all current liabilities, except for current maturities of long-term debt and obligations under Finance Leases; and (b) intangible assets, to the extent included in said aggregate amount of assets, as of the end of the most
recently completed accounting period for which the Issuer’s financial statements are then available and computed in accordance with GAAP applied on a consistent basis. 

“continuing” means, with respect to any Default or Event of Default, that such Default or Event of Default has not been cured
or waived. 

  
 3 

 “Corporate Trust Office of the Trustee” means the office of the Trustee at
which at any particular time this Indenture shall be principally administered, which office at the date of the execution of this Indenture is located at the address of the Trustee specified in Section 12.02 hereof, or such other address as to
which the Trustee may designate from time to time by notice to the Issuer, or the principal corporate trust office of any successor Trustee (or such other address as such successor Trustee may designate from time to time by notice to the Issuer).

 “Custodian” means the Trustee, as custodian with respect to the Global Notes, or any successor entity thereto. 

“Dealer Managers” means Barclays Capital Inc., BBVA Securities Inc., BNP Paribas Securities Corp., and J.P. Morgan Securities
LLC. 
 “Default” means any event that is, or with the passage of time or the giving of notice or both would be, an Event
of Default. 
 “Definitive Note” means a certificated Note registered in the name of the Holder thereof and issued in
accordance with Section 2.06 hereof, substantially in the form of Exhibit A hereto, except that such Note shall not bear the Global Note Legend and shall not have the “Schedule of Exchanges of Interests in the Global Note” attached
thereto. 
 “Derivative Instrument” with respect to a Person, means any contract, instrument or other right to receive
payment or delivery of cash or other assets to which such Person or any Affiliate of such Person that is acting in concert with such Person in connection with such Person’s investment in the Notes (other than a Screened Affiliate) is a party
(whether or not requiring further performance by such Person), the value and/or cash flows of which (or any material portion thereof) are materially affected by the value and/or performance of the Notes and/or the creditworthiness of the Issuer.

 “Depositary” means, with respect to the Notes issuable or issued in whole or in part in global form, the Person
specified in Section 2.03 hereof as the Depositary with respect to the Notes, and any and all successors thereto appointed as Depositary hereunder and having become such pursuant to the applicable provision of this Indenture. 

“Euroclear” means Euroclear Bank, S.A./N.V., as operator of the Euroclear system. 

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

“Exchange Notes” means the Notes issued in the Exchange Offers pursuant to Section 2.06(f) hereof. 

“Exchange Offer Registration Statement” has the meaning set forth in the Registration Rights Agreement. 

“Exchange Offers” has the meaning set forth in the Registration Rights Agreement. 

“Finance Lease” means any Indebtedness represented by a lease obligation of a Person incurred with respect to real property
or equipment acquired or leased by such Person and used in its business that is required to be recorded as a finance lease in accordance with GAAP. 

  
 4 

 “GAAP” means accounting principles generally accepted in the United States
of America set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other
statements by such other entity as have been approved by a significant segment of the accounting profession, which are in effect on the date of this Indenture. 

“Global Note Legend” means the legend set forth in Section 2.06(g)(3) hereof, which is required to be placed on all
Global Notes issued under this Indenture. 
 “Global Notes” means, individually and collectively, each of the Restricted
Global Notes and the Unrestricted Global Notes deposited with or on behalf of and registered in the name of the Depositary or its nominee, substantially in the form of Exhibit A hereto and that bears the Global Note Legend and that has the
“Schedule of Exchanges of Interests in the Global Note” attached thereto, issued in accordance with Section 2.01, 2.06(b)(3), 2.06(b)(4), 2.06(d)(2) or 2.06(f) hereof. 

“Government Securities” means direct obligations of, or obligations guaranteed by, the United States of America, and the
payment for which the United States pledges its full faith and credit. 
 “Holder” means a Person in whose name a Note is
registered. 
 “Indebtedness” of any specified Person means, without duplication, any indebtedness in respect of borrowed
money or that is evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements with respect thereto (other than obligations with respect to letters of credit securing obligations entered into in the
ordinary course of business of such Person to the extent such letters of credit are not drawn upon or, if and to the extent drawn upon, such drawing is reimbursed no later than the fifth Business Day following receipt by such Person of a demand for
reimbursement following payment on the letter of credit)) or representing the balance deferred and unpaid of the purchase price of any Property (including pursuant to Finance Leases), except any such balance that constitutes an accrued expense or
trade payable, if and to the extent any of the foregoing indebtedness would appear as a liability upon a balance sheet of such Person prepared in accordance with GAAP (but does not include contingent liabilities which appear only in a footnote to a
balance sheet). In addition, the term “Indebtedness” includes all of the following items, whether or not any such items would appear as a liability on a balance sheet of the specified Person in accordance with GAAP: 

 

	 	(1)	 all indebtedness of others secured by a lien on any asset of the specified Person (whether or not such
Indebtedness is assumed by the specified Person); and 

  

	 	(2)	 to the extent not otherwise included, any guarantee by the specified Person of indebtedness of any other
Person. 

 Notwithstanding the foregoing, the term “Indebtedness” excludes any indebtedness of the Issuer or any
of its Subsidiaries to the Issuer or a Subsidiary of the Issuer. 
 “Indenture” means this Indenture, as amended or
supplemented from time to time. 
 “Indirect Participant” means a Person who holds a beneficial interest in a Global Note
through a Participant. 
 “Initial Notes” means the $2,500,000,000 aggregate principal amount of Notes issued under this
Indenture on the date hereof. 
 “Interest Payment Date” when used with respect to the Notes, means the Stated Maturity of
an installment of interest on such Note. 

  
 5 

 “Investment Grade” means a rating of Baa3 or better by Moody’s (or its
equivalent under any successor rating category of Moody’s) and a rating of BBB- or better by S&P (or its equivalent under any successor rating category of S&P), or, if applicable, the
equivalent investment grade credit rating from any Substitute Rating Agency. 
 “Issuer” has the meaning assigned to it in
the preamble to this Indenture. 
 “Long Derivative Instrument” means a Derivative Instrument (i) the value of which
generally increases, and/ or the payment or delivery obligations under which generally decrease, with positive changes to the Issuer and/or (ii) the value of which generally decreases, and/or the payment or delivery obligations under which
generally increase, with negative changes to the Issuer. 
 “Letter of Transmittal” means the letter(s) of transmittal to
be prepared by the Issuer and sent to all Holders of the Notes for use by such Holders in connection with the Exchange Offers. 

“Maturity Date” means May 15, 2037. 

“Moody’s” means Moody’s Investors Service, Inc., a subsidiary of Moody’s Corporation, and its successors. 

“Net Short” means with respect to a Holder or beneficial owner, as of a date of determination, either (i) the value of
its Short Derivative Instruments exceeds the sum of the (x) the value of its Notes, plus (y) the value of its Long Derivative Instruments as of such date of determination or (ii) it is reasonably expected that such would have been the
case were a Failure to Pay or Bankruptcy Credit Event (each as defined in the 2014 ISDA Credit Derivatives Definitions) to have occurred with respect to the Issuer immediately prior to such date of determination. 

“Non-U.S. Person” means a Person who is not a U.S. Person. 

“Notes” has the meaning assigned to it in the preamble to this Indenture. Unless the context otherwise requires, all
references to the Notes shall include the Initial Notes and any Additional Notes. 
 “Officer” means, with respect to any
Person, the Chairman of the Board of Directors, the Chief Executive Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary, any Assistant Secretary, any
Vice-President or any Director of such Person. 
 “Officer’s Certificate” means a certificate signed by an Officer of
the Issuer that meets the requirements of Section 12.05 hereof and delivered to the Trustee. 
 “Opinion of Counsel”
means an opinion from legal counsel who is reasonably acceptable to the Trustee, that meets the requirements of Section 12.05 hereof. The counsel may be an employee of or counsel to the Issuer, any Subsidiary of the Issuer or the Trustee and
may contain reasonable qualifications and exceptions. 
 “Participant” means, with respect to the Depositary, Euroclear or
Clearstream, a Person who has an account with the Depositary, Euroclear or Clearstream, respectively (and, with respect to DTC, shall include Euroclear and Clearstream). 

  
 6 

 “Person” means any individual, corporation, partnership, joint venture,
association, joint-stock company, trust, unincorporated organization, limited liability company, exempted company, exempted limited partnership or government or other entity. 

“Principal Property” means the land, improvements, buildings, fixtures and/or equipment (including any leasehold interest
therein) constituting any manufacturing, assembly or test plant, distribution center, research facility, design facility, administrative facility, or sales and marketing facility (in each case, whether now owned or hereafter acquired) which is owned
or leased by the Issuer or any of its Subsidiaries, unless such plant, center or facility has a fair market value of less than $10.0 million or unless the Board of Directors of the Issuer or a committee thereof has determined in good faith that
such office, plant, center or facility is not of material importance to the total business conducted by the Issuer and its Subsidiaries taken as a whole. Notwithstanding the foregoing, the land, improvements, buildings, fixtures and/or equipment
(including any leasehold interest therein) constituting (i) the principal corporate offices or primary campuses of the Issuer (whether owned or leased by the Issuer or a wholly-owned Subsidiary of the Issuer) and (ii) the office campus
located in Irvine, California, in each case shall not constitute Principal Property. 
 “Private Placement Legend” means
the legend set forth in Section 2.06(g)(1) hereof to be placed on all Notes issued under this Indenture except where otherwise permitted by the provisions of this Indenture. 

“Property” means any property or asset, whether real, personal or mixed, or tangible or intangible, including shares of
Capital Stock. 
 “QIB” means a “qualified institutional buyer” as defined in Rule 144A. 

“Rating Agency” means each of Moody’s and S&P, and if either of Moody’s or S&P ceases to rate the Notes or
fails to make a rating of the Notes publicly available for reasons outside of the control of the Issuer, a Substitute Rating Agency in lieu thereof. 

“Rating Event” means the Notes cease to be rated Investment Grade by both Rating Agencies on any day during the period (the
“Trigger Period”) commencing on the earlier of (a) the first public notice of the occurrence of a Change of Control or (b) the public announcement by the Issuer of its intention to effect a Change of Control, and ending 60 days
following consummation of such Change of Control (which period shall be extended so long as the rating of the Notes is under publicly announced consideration for a possible rating downgrade by either of the Rating Agencies). If either Rating Agency
is not providing a rating of the Notes on any day during the Trigger Period for any reason, the rating of such Rating Agency shall be deemed to have ceased to be rated Investment Grade during the Trigger Period. 

“Redemption Date,” when used with respect to any Note to be redeemed, means the date fixed for such redemption by or pursuant
to this Indenture. 
 “Registration Rights Agreement” means the Registration Rights Agreement, dated as of April 18,
2022, between the Issuer and the other parties named on the signature pages thereof, as such agreement may be amended, modified or supplemented from time to time and, with respect to any Additional Notes, one or more registration rights agreements
among the Issuer and the other parties thereto, as such agreement(s) may be amended, modified or supplemented from time to time, relating to rights given by the Issuer to the purchasers of Additional Notes to register such Additional Notes under the
Securities Act. 

  
 7 

 “Regular Record Date” for the interest payable on any Interest Payment Date
on the Notes means May 1 or November 1 (whether or not a Business Day) immediately preceding such Interest Payment Date. 

“Regulation S” means Regulation S promulgated under the Securities Act. 

“Regulation S Global Note” means a Global Note in the form of Exhibit A hereto bearing the Global Note Legend, the Private
Placement Legend and the Regulation S Global Note Legend and deposited with or on behalf of and registered in the name of the Depositary or its nominee, issued in denominations equal to the outstanding aggregate principal amount of Notes initially
sold in reliance on Rule 903 of Regulation S. 
 “Regulation S Global Note Legend” means the legend set forth in
Section 2.06(g)(2) hereof to be placed on all Regulation S Global Notes issued under this Indenture except where otherwise permitted by the provisions of this Indenture. 

“Remaining Scheduled Payments” means, with respect to each Note to be redeemed, the remaining scheduled payments of the
principal thereof and interest thereon that would be due after the related Redemption Date for such redemption as if such Note matured on the Par Call Date; provided, however, that if such Redemption Date is not an Interest Payment Date with
respect to such Note, the amount of the next succeeding scheduled interest payment thereon will be reduced by the amount of interest accrued thereon to such Redemption Date. 

“Responsible Officer,” when used with respect to the Trustee, means any officer within the Corporate Trust Office of the
Trustee who shall have direct responsibility for the administration of this Indenture, and for the purposes of Section 7.01(c)(2) and the second sentence of Section 7.05 shall also include any other officer to whom any corporate trust
matter relating to this Indenture is referred because of such officer’s knowledge of and familiarity with the particular subject. 

“Restricted Definitive Note” means a Definitive Note bearing the Private Placement Legend. 

“Restricted Global Note” means a Global Note bearing the Private Placement Legend. 

“Restricted Period” means the 40-day distribution compliance period as defined in
Regulation S. 
 “Rule 144” means Rule 144 promulgated under the Securities Act. 

“Rule 144A” means Rule 144A promulgated under the Securities Act. 

“Rule 903” means Rule 903 promulgated under the Securities Act. 

“Rule 904” means Rule 904 promulgated under the Securities Act. 

“S&P” means S&P Global Ratings, a division of S&P Global Inc., and its successors. 

“SEC” means the Securities and Exchange Commission. 

“Screened Affiliate” means any Affiliate of a Holder (i) that makes investment decisions independently from such Holder
and any other Affiliate of such Holder that is not a Screened Affiliate, (ii) that has in place customary information screens between it and such Holder and any other Affiliate of such Holder that is not a Screened Affiliate and such screens
prohibit the sharing of information with 

  
 8 

 
respect to the Issuer or its Subsidiaries, (iii) whose investment policies are not directed by such Holder or any other Affiliate of such Holder that is acting in concert with such Holder in
connection with its investment in the Notes, and (iv) whose investment decisions are not influenced by the investment decisions of such Holder or any other Affiliate of such Holder that is acting in concert with such Holders in connection with
its investment in the Notes. 
 “Secured Debt” means indebtedness for borrowed money that is secured by a security interest
in any Principal Property. 
 “Securities Act” means the Securities Act of 1933, as amended. 

“Shelf Registration Statement” has the meaning set forth in the Registration Rights Agreement. 

“Short Derivative Instrument” means a Derivative Instrument (i) the value of which generally decreases, and/or the
payment or delivery obligations under which generally increase, with positive changes to the Issuer and/or (ii) the value of which generally increases, and/or the payment or delivery obligations under which generally decrease, with negative
changes to the Issuer. 
 “Stated Maturity” means, with respect to any installment of interest or principal on any
indebtedness, the date on which the payment of interest or principal was scheduled to be paid in the documentation governing such indebtedness as of the first date it was incurred in compliance with the terms of this Indenture, and will not include
any contingent obligations to repay, redeem or repurchase any such interest or principal prior to the date originally scheduled for the payment thereof. 

“Subsidiary” means any corporation or other entity (including, without limitation, partnerships, joint ventures and
associations) of which at least a majority of the outstanding stock having by the terms thereof ordinary voting power for the election of directors of such corporation or other entity (irrespective of whether or not at the time the stock of any
other class or classes of such corporation shall have or might have voting power by reason of the happening of any such contingency) is at the time directly or indirectly owned by the Issuer, or by one or more Subsidiaries of the Issuer, or by the
Issuer and one or more other Subsidiaries. 
 “Substitute Rating Agency” means a “nationally recognized statistical
rating organization” within the meaning of Section 3(a)(62) of the Exchange Act, selected by the Issuer (as certified by a resolution of the Board of Directors of the Issuer or a committee thereof) as a replacement agency for Moody’s
or S&P, or both of them, as the case may be. 
 “TIA” means the Trust Indenture Act of 1939, as amended (15 U.S.C.
§§ 77aaa-77bbbb). 
 “Treasury Rate” means, with respect to any Redemption Date, the yield determined by the
Issuer in accordance with the following two paragraphs. 
 The Treasury Rate shall be determined by the Issuer after 4:15 p.m., New York
City time (or after such time as yields on U.S. government securities are posted daily by the Board of Governors of the Federal Reserve System), on the third Business Day preceding the Redemption Date based upon the yield or yields for the most
recent day that appear after such time on such day in the most recent statistical release published by the Board of Governors of the Federal Reserve System designated as “Selected Interest Rates (Daily)—H.15” (or any successor
designation or publication) (“H.15”) under the caption “U.S. government securities–Treasury constant maturities–Nominal” (or any successor caption or heading) (“H.15 TCM”). In determining the Treasury Rate,
the Issuer shall select, as applicable: (1) the yield for the Treasury constant maturity on H.15 exactly equal to the period from the Redemption Date to 

  
 9 

 
the Par Call Date (the “Remaining Life”); or (2) if there is no such Treasury constant maturity on H.15 exactly equal to the Remaining Life, the two yields – one yield
corresponding to the Treasury constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately longer than the Remaining Life – and shall interpolate to the Par Call Date on a
straight-line basis (using the actual number of days) using such yields and rounding the result to three decimal places; or (3) if there is no such Treasury constant maturity on H.15 shorter than or longer than the Remaining Life, the yield for
the single Treasury constant maturity on H.15 closest to the Remaining Life. For purposes of this paragraph, the applicable Treasury constant maturity or maturities on H.15 shall be deemed to have a maturity date equal to the relevant number of
months or years, as applicable, of such Treasury constant maturity from the Redemption Date. 
 If on the third Business Day preceding the
Redemption Date H.15 TCM is no longer published, the Issuer shall calculate the Treasury Rate based on the rate per annum equal to the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second Business Day preceding
such Redemption Date of the United States Treasury security maturing on, or with a maturity that is closest to, the Par Call Date, as applicable. If there is no United States Treasury security maturing on the Par Call Date but there are two or more
United States Treasury securities with a maturity date equally distant from the Par Call Date, one with a maturity date preceding the Par Call Date and one with a maturity date following the Par Call Date, the Issuer shall select the United States
Treasury security with a maturity date preceding the Par Call Date. If there are two or more United States Treasury securities maturing on the Par Call Date or two or more United States Treasury securities meeting the criteria of the preceding
sentence, the Issuer shall select from among these two or more United States Treasury securities the United States Treasury security that is trading closest to par based upon the average of the bid and asked prices for such United States Treasury
securities at 11:00 a.m., New York City time. In determining the Treasury Rate in accordance with the terms of this paragraph, the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average of the
bid and asked prices (expressed as a percentage of principal amount) at 11:00 a.m., New York City time, of such United States Treasury security, and rounded to three decimal places. 

“Trustee” means, subject to Section 8.05, Wilmington Trust, National Association, until a successor replaces it in
accordance with the applicable provisions of this Indenture and thereafter means the successor serving hereunder. 
 “Unrestricted
Definitive Note” means a Definitive Note that does not bear and is not required to bear the Private Placement Legend. 

“Unrestricted Global Note” means a Global Note that does not bear and is not required to bear the Private Placement Legend.

 “U.S. Person” means a U.S. Person as defined in Rule 902(k) promulgated under the Securities Act. 

“Voting Stock” of any specified Person as of any date means the Capital Stock of such Person that is at the time entitled to
vote generally in the election of the Board of Directors or managers of such Person (or, if such Person is a partnership, the Board of Directors or other governing body of the general partner of such Person). 

  
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 Section 1.02 Other Definitions. 

 

					
	 Term
	  	Defined in Section	 
	“Additional Amounts”	  	 	2.13	 
	“Applicable Law”	  	 	7.02	 
	“Authentication Order”	  	 	2.02	 
	“Change in Tax Law”	  	 	3.09	 
	“Change of Control Offer”	  	 	4.09	 
	“Change of Control Payment”	  	 	4.09	 
	“Change of Control Payment Date”	  	 	4.09	 
	“Covenant Defeasance”	  	 	8.03	 
	“Directing Holder”	  	 	6.02	 
	“DTC”	  	 	2.03	 
	“Event of Default”	  	 	6.01	 
	“Foreign Government Obligation”	  	 	8.04	 
	“Legal Defeasance”	  	 	8.02	 
	“Non-U.S. Domicile Transaction”	  	 	5.01	 
	“non-U.S. Payor”	  	 	2.13	 
	“Noteholder Direction”	  	 	6.02	 
	“Offering Memorandum”	  	 	9.01	 
	“Par Call Date”	  	 	3.07	 
	“Paying Agent”	  	 	2.03	 
	“Position Representation”	  	 	6.02	 
	“Registrar”	  	 	2.03	 
	“Related Judgment”	  	 	12.09	 
	“Related Proceedings”	  	 	12.09	 
	“Relevant Taxing Jurisdiction”	  	 	2.13	 
	“Sale and Lease-back Transaction”	  	 	4.10	 
	“Specified Courts”	  	 	12.09	 
	“Tax Redemption Date”	  	 	3.09	 
	“Taxes”	  	 	2.13	 
	“U.S. Government Obligation”	  	 	8.04	 
	“Verification Covenant”	  	 	6.02	 

 Section 1.03 Incorporation by Reference of Trust Indenture Act. 

Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture.

 The following TIA terms used in this Indenture have the following meanings: 

“indenture securities” means the Notes; 

“indenture security Holder” means a Holder of a Note; 

“indenture to be qualified” means this Indenture; 

“indenture trustee” or “institutional trustee” means the Trustee; and 

“obligor” on the Notes means the Issuer and any successor obligor upon the Notes. 

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

  
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 Section 1.04 Rules of Construction. 

Unless the context otherwise requires: 

(1) a term has the meaning assigned to it; 

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

(3) “or” is not exclusive; 

(4) “including” is not limiting; 

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

(6) “will” shall be interpreted to express a command; 

(7) provisions apply to successive events and transactions; 

(8) references to sections of or rules under the Securities Act will be deemed to include substitute, replacement or successor
sections or rules adopted by the SEC from time to time; and 
 (9) unless otherwise provided in this Indenture or in any
Note, the words “execute”, “execution”, “signed”, and “signature” and words of similar import used in or related to any document to be signed in connection with this Indenture, any Note or any of the
transactions contemplated hereby (including amendments, waivers, consents and other modifications) shall be deemed to include electronic signatures and the keeping of records in electronic form, each of which shall be of the same legal effect,
validity or enforceability as a manually executed signature in ink or the use of a paper-based recordkeeping system, as applicable, to the fullest extent and as provided for in any Applicable Law, including the Federal Electronic Signatures in
Global and National Commerce Act, the New York State Electronic Signatures and Records Act, and any other similar state laws based on the Uniform Electronic Transactions Act, provided that, notwithstanding anything herein to the contrary, the
Trustee is not under any obligation to agree to accept electronic signatures in any form or in any format unless expressly agreed to by the Trustee pursuant to procedures approved by the Trustee. 

ARTICLE 2. 
 THE NOTES 

Section 2.01 Form and Dating. 
 (a)
General. The Notes and the Trustee’s certificate of authentication will be substantially in the form of Exhibit A hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage. Each Note will
be dated the date of its authentication. The Notes shall be in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. 

The terms and provisions contained in the Notes will constitute, and are hereby expressly made, a part of this Indenture and the Issuer and
the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Note conflicts with the express provisions of this Indenture, the
provisions of this Indenture shall govern and be controlling. 

  
 12 

 The aggregate principal amount of Notes that may be authenticated and delivered under this
Indenture is unlimited. 
 The Issuer may, without notice to or consent of the Holders of the Initial Notes, issue Additional Notes having
the same ranking, interest rate, maturity and/or other terms as the Initial Notes (except for the issue price, the date of issuance and, in certain circumstances, the date interest begins to accrue and the first Interest Payment Date). Any such
Additional Notes issued would be considered part of the same series of Notes under this Indenture as the Initial Notes and may (but are not required to) bear the same CUSIP number as the Initial Notes; provided that if the Additional Notes are not
fungible with the Initial Notes for United States federal income tax purposes, the Additional Notes will have a separate CUSIP number. 
 On
the Maturity Date, the Notes shall become due and payable at final maturity, together with any accrued and unpaid interest. 
 (b) Global
Notes. Notes issued in global form will be substantially in the form of Exhibit A hereto (including the Global Note Legend thereon and the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Notes issued in
definitive form will be substantially in the form of Exhibit A hereto (but without the Global Note Legend thereon and without the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Each Global Note will represent
such of the outstanding Notes as will be specified therein and each shall provide that it represents the aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes
represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate principal amount of
outstanding Notes represented thereby will be made by the Trustee or the Custodian, at the direction of the Trustee, in accordance with instructions given by the Holder thereof as required by Section 2.06 hereof. 

(c) Euroclear and Clearstream Procedures Applicable. The provisions of the “Operating Procedures of the Euroclear System” and
“Terms and Conditions Governing Use of Euroclear” and the “General Terms and Conditions of Clearstream Banking” and “Customer Handbook” of Clearstream will be applicable to transfers of beneficial interests in the
Regulation S Global Note that is held by Participants through Euroclear or Clearstream. 
 Section 2.02 Execution and Authentication. 

At least one Officer must sign the Notes for the Issuer by manual, electronic or facsimile signature. 

If an Officer whose signature is on a Note no longer holds that office at the time a Note is authenticated, the Note will nevertheless be
valid. 
 A Note will not be valid until authenticated by the manual signature of the Trustee. The signature will be conclusive evidence
that the Note has been authenticated under this Indenture. 
 The Trustee will, upon receipt of a written order of the Issuer signed by an
Officer of the Issuer (an “Authentication Order”), authenticate Notes for original issue that may be validly issued under this Indenture, including any Additional Notes. The aggregate principal amount of Notes outstanding at any
time may not exceed the aggregate principal amount of Notes authorized for issuance by the Issuer pursuant to one or more Authentication Orders, except as provided in Section 2.07 hereof. 

  
 13 

 The Trustee may appoint an authenticating agent acceptable to the Issuer to authenticate
Notes. An authenticating agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to
deal with Holders or an Affiliate of the Issuer. 
 Section 2.03 Registrar and Paying Agent. 

The Issuer will maintain an office or agency where Notes may be presented for registration of transfer or for exchange
(“Registrar”) and an office or agency where Notes may be presented for payment (“Paying Agent”). The Registrar will keep a register of the Notes and of their transfer and exchange. The Issuer may appoint one or more
co-registrars and one or more additional paying agents. The term “Registrar” includes any co-registrar and the term “Paying Agent” includes any
additional paying agent. The Issuer may change any Paying Agent or Registrar without notice to any Holder. The Issuer will notify the Trustee in writing of the name and address of any Agent not a party to this Indenture. If the Issuer fails to
appoint or maintain another entity as Registrar or Paying Agent, the Trustee shall act as such. The Issuer or any of its Subsidiaries may act as Paying Agent or Registrar. 

The Issuer initially appoints The Depository Trust Company (“DTC”) to act as Depositary with respect to the Global Notes.

 The Issuer initially appoints the Trustee to act as the Registrar and Paying Agent and to act as Custodian with respect to the Global
Notes. 
 Section 2.04 Paying Agent to Hold Money in Trust. 

The Issuer will require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust for the benefit
of Holders or the Trustee all money held by the Paying Agent for the payment of principal of, premium on, if any, interest and Additional Interest, if any, on, the Notes, and will notify the Trustee of any Default by the Issuer in making any such
payment. While any such Default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Issuer at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the
Trustee, the Paying Agent (if other than the Issuer or a Subsidiary) will have no further liability for the money. If the Issuer or a Subsidiary acts as Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the Holders
all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Issuer, the Trustee will serve as Paying Agent for the Notes. 

Section 2.05 Holder Lists. 
 The
Trustee will preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of all Holders and shall otherwise comply with TIA §312(a). If the Trustee is not the Registrar, the Issuer
will furnish to the Trustee at least seven Business Days before each Interest Payment Date and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and
addresses of the Holders of Notes and the Issuer shall otherwise comply with TIA §312(a). 

  
 14 

 Section 2.06 Transfer and Exchange. 

(a) Transfer and Exchange of Global Notes. A Global Note may not be transferred except as a whole by the Depositary to a nominee of the
Depositary, by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. All Global Notes will be exchanged by
the Issuer for Definitive Notes if: 
 (1) the Issuer delivers to the Trustee notice from the Depositary that it is unwilling
or unable to continue to act as Depositary or that it is no longer a clearing agency registered under the Exchange Act and, in either case, a successor Depositary is not appointed by the Issuer within 120 days after the date of such notice from the
Depositary; 
 (2) the Issuer in its sole discretion elects to cause the issuance of Definitive Notes for Global Notes and
delivers a written notice to such effect to the Trustee; or 
 (3) there has occurred and is continuing a Default or Event of
Default with respect to the Notes. 
 Upon the occurrence of either of the preceding events in (1) or (2) above, Definitive Notes shall
be issued in such names as the Depositary shall instruct the Trustee. Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.10 hereof. Every Note authenticated and delivered in exchange for, or in
lieu of, a Global Note or any portion thereof, pursuant to this Section 2.06 or Section 2.07 or 2.10 hereof, shall be authenticated and delivered in the form of, and shall be, a Global Note. A Global Note may not be exchanged for another
Note other than as provided in this Section 2.06(a); however, beneficial interests in a Global Note may be transferred and exchanged as provided in Section 2.06(b), (c) or (f) hereof. 

(b) Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and exchange of beneficial interests in the Global
Notes will be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial interests in the Restricted Global Notes will be subject to restrictions on transfer comparable to those set
forth herein to the extent required by the Securities Act. Transfers of beneficial interests in the Global Notes also will require compliance with either subparagraph (1) or (2) below, as applicable, as well as one or more of the other
following subparagraphs, as applicable: 
 (1) Transfer of Beneficial Interests in the Same Global Note. Beneficial
interests in any Restricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in accordance with the transfer restrictions set forth in the Private Placement
Legend; provided, however, that prior to the expiration of the Restricted Period, transfers of beneficial interests in the Regulation S Global Note may not be made to a U.S. Person or for the account or benefit of a U.S. Person (other than a
Dealer Manager). Beneficial interests in any Unrestricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note. No written orders or instructions shall be required to
be delivered to the Registrar to effect the transfers described in this Section 2.06(b)(1). 

  
 15 

 (2) All Other Transfers and Exchanges of Beneficial Interests in Global
Notes. In connection with all transfers and exchanges of beneficial interests that are not subject to Section 2.06(b)(1) above, the transferor of such beneficial interest must deliver to the Registrar either: 

(A) both: 

(i) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable
Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global Note in an amount equal to the beneficial interest to be transferred or exchanged; and 

(ii) instructions given in accordance with the Applicable Procedures containing information regarding the Participant account
to be credited with such increase; or 
 (B) both: 

(i) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable
Procedures directing the Depositary to cause to be issued a Definitive Note in an amount equal to the beneficial interest to be transferred or exchanged; and 

(ii) instructions given by the Depositary to the Registrar containing information regarding the Person in whose name such
Definitive Note shall be registered to effect the transfer or exchange referred to in (1) above. 
 Upon consummation of an Exchange Offer by the
Issuer in accordance with Section 2.06(f) hereof, the requirements of this Section 2.06(b)(2) shall be deemed to have been satisfied upon receipt by the Registrar of the instructions contained in the Letter of Transmittal delivered by the
holder of such beneficial interests in the Restricted Global Notes. Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Notes contained in this Indenture and the Notes or otherwise applicable under
the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Note(s) pursuant to Section 2.06(h) hereof. 

(3) Transfer of Beneficial Interests to Another Restricted Global Note. A beneficial interest in any Restricted Global
Note may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Note if the transfer complies with the requirements of Section 2.06(b)(2) above and the Registrar receives the
following: 
 (A) if the transferee will take delivery in the form of a beneficial interest in the 144A Global Note, then the
transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; and 

(B) if the transferee will take delivery in the form of a beneficial interest in the Regulation S Global Note, then the
transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof. 

(4) Transfer and Exchange of Beneficial Interests in a Restricted Global Note for Beneficial Interests in an Unrestricted
Global Note. A beneficial interest in any Restricted Global Note may be exchanged by any holder thereof for a beneficial interest in an Unrestricted Global Note or transferred to a Person who takes delivery thereof in the form of a beneficial
interest in an Unrestricted Global Note if the exchange or transfer complies with the requirements of Section 2.06(b)(2) above and: 

(A) such exchange or transfer is effected pursuant to the Exchange Offers in accordance with the Registration Rights Agreement
and the holder of the beneficial interest to be transferred, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (i) a Broker-Dealer, (ii) a Person
participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Issuer; 

  
 16 

 (B) such transfer is effected pursuant to the Shelf Registration Statement
in accordance with the Registration Rights Agreement; 
 (C) such transfer is effected by a Broker-Dealer pursuant to the
Exchange Offer Registration Statement in accordance with the Registration Rights Agreement; or 
 (D) the Registrar receives
the following: 
 (i) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such
beneficial interest for a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(a) thereof; or 

(ii) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to a
Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (D), if the Issuer or the Registrar so requests or if the Applicable Procedures so
require, an Opinion of Counsel in form reasonably acceptable to the Issuer and the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the
Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
 If any such transfer is effected
pursuant to subparagraph (B) or (D) above at a time when an Unrestricted Global Note has not yet been issued, the Issuer shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall
authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred pursuant to subparagraph (B) or (D) above. 

Beneficial interests in an Unrestricted Global Note cannot be exchanged for, or transferred to Persons who take delivery thereof in the form
of, a beneficial interest in a Restricted Global Note. 
 (c) Transfer or Exchange of Beneficial Interests for Definitive
Notes. 
 (1) Beneficial Interests in Restricted Global Notes to Restricted Definitive Notes. If any holder of a
beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Restricted Definitive
Note, then, upon receipt by the Registrar of the following documentation: 
 (A) if the holder of such beneficial interest in
a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (2)(a) thereof; 

  
 17 

 (B) if such beneficial interest is being transferred to a QIB in accordance
with Rule 144A, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 

(C) if such beneficial interest is being transferred to a Non-U.S. Person in an
offshore transaction in accordance with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (2) thereof; 

(D) if such beneficial interest is being transferred pursuant to an exemption from the registration requirements of the
Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof; 

(E) if such beneficial interest is being transferred to the Issuer or any of its Subsidiaries, a certificate to the effect set
forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or 
 (F) if such beneficial interest is
being transferred pursuant to an effective registration statement under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(c) thereof, 

the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.06(h) hereof, and
the Issuer shall execute and the Trustee shall authenticate and deliver to the Person designated in the instructions a Definitive Note in the appropriate principal amount. Any Definitive Note issued in exchange for a beneficial interest in a
Restricted Global Note pursuant to this Section 2.06(c) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest shall instruct the Registrar through instructions
from the Depositary and the Participant or Indirect Participant. The Trustee shall deliver such Definitive Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest in a
Restricted Global Note pursuant to this Section 2.06(c)(1) shall bear the Private Placement Legend and shall be subject to all restrictions on transfer contained therein. 

(2) Beneficial Interests in Restricted Global Notes to Unrestricted Definitive Notes. A holder of a beneficial interest
in a Restricted Global Note may exchange such beneficial interest for an Unrestricted Definitive Note or may transfer such beneficial interest to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note only if: 

(A) such exchange or transfer is effected pursuant to the Exchange Offers in accordance with the Registration Rights Agreement
and the holder of such beneficial interest, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (i) a Broker-Dealer, (ii) a Person participating in the
distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Issuer; 
 (B)
such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights Agreement; 

  
 18 

 (C) such transfer is effected by a Broker-Dealer pursuant to the Exchange
Offer Registration Statement in accordance with the Registration Rights Agreement; or 
 (D) the Registrar receives the
following: 
 (i) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial
interest for an Unrestricted Definitive Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(b) thereof; or 

(ii) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to a
Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (D), if the Issuer or the Registrar so requests or if the Applicable Procedures so
require, an Opinion of Counsel in form reasonably acceptable to the Issuer and the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the
Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
 (3) Beneficial
Interests in Unrestricted Global Notes to Unrestricted Definitive Notes. If any holder of a beneficial interest in an Unrestricted Global Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such beneficial
interest to a Person who takes delivery thereof in the form of a Definitive Note, then, upon satisfaction of the conditions set forth in Section 2.06(b)(2) hereof, the Trustee will cause the aggregate principal amount of the applicable
Unrestricted Global Note to be reduced accordingly pursuant to Section 2.06(h) hereof, and the Issuer will execute and the Trustee, upon receipt of an Authentication Order, will authenticate and deliver to the Person designated in the
instructions a Definitive Note in the appropriate principal amount. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.06(c)(3) will be registered in such name or names and in such authorized
denomination or denominations as the holder of such beneficial interest requests through instructions to the Registrar from or through the Depositary and the Participant or Indirect Participant. The Trustee will deliver such Definitive Notes to the
Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.06(c)(3) will not bear the Private Placement Legend or the Regulation S Global Note Legend. 

(d) Transfer and Exchange of Definitive Notes for Beneficial Interests. 

(1) Restricted Definitive Notes to Beneficial Interests in Restricted Global Notes. If any Holder of a Restricted
Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note or to transfer such Restricted Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in a Restricted Global
Note, then, upon receipt by the Registrar of the following documentation: 
 (A) if the Holder of such Restricted Definitive
Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (2)(b) thereof; 

  
 19 

 (B) if such Restricted Definitive Note is being transferred to a QIB in
accordance with Rule 144A, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 

(C) if such Restricted Definitive Note is being transferred to a Non-U.S. Person in an
offshore transaction in accordance with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (2) thereof; 

(D) if such Restricted Definitive Note is being transferred pursuant to an exemption from the registration requirements of the
Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof; 

(E) if such Restricted Definitive Note is being transferred to the Issuer or any of its Subsidiaries, a certificate to the
effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or 
 (F) if such Restricted
Definitive Note is being transferred pursuant to an effective registration statement under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(c) thereof, 

the Trustee will cancel the Restricted Definitive Note, increase or cause to be increased the aggregate principal amount of, in the case of
clause (A) above, the applicable Restricted Global Note, in the case of clause (B) above, the applicable 144A Global Note or in the case of clause (C) above, the applicable Regulation S Global Note. 

(2) Restricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of a Restricted
Definitive Note may exchange such Note for a beneficial interest in the applicable Unrestricted Global Note or transfer such Restricted Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in the applicable
Unrestricted Global Note only if: 
 (A) such exchange or transfer is effected pursuant to the Exchange Offers in accordance
with the Registration Rights Agreement and the Holder, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (i) a Broker-Dealer, (ii) a Person
participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Issuer; 

(B) such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights
Agreement; 
 (C) such transfer is effected by a Broker-Dealer pursuant to the Exchange Offer Registration Statement in
accordance with the Registration Rights Agreement; or 
 (D) the Registrar receives the following: 

(i) if the Holder of such Definitive Notes proposes to exchange such Notes for a beneficial interest in an Unrestricted Global
Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(c) thereof; or 

  
 20 

 (ii) if the Holder of such Definitive Notes proposes to transfer such Notes
to a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (D), if the Issuer or the Registrar so requests or if the Applicable Procedures so
require, an Opinion of Counsel in form reasonably acceptable to the Issuer and the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the
Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
 Upon satisfaction
of the conditions of any of the subparagraphs in this Section 2.06(d)(2), the Trustee will cancel the Definitive Notes and increase or cause to be increased the aggregate principal amount of an applicable Unrestricted Global Note. 

(3) Unrestricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of an Unrestricted
Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note at any time.
Upon receipt of a request for such an exchange or transfer, the Trustee will cancel the applicable Unrestricted Definitive Note and increase or cause to be increased the aggregate principal amount of an applicable Unrestricted Global Note. 

If any such exchange or transfer from a Definitive Note to a beneficial interest is effected pursuant to subparagraphs (2)(B),
(2)(D) or (3) above at a time when an Unrestricted Global Note has not yet been issued, the Issuer will issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee will authenticate one or more
Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of Definitive Notes so transferred. 
 (e)
Transfer and Exchange of Definitive Notes for Definitive Notes. Upon request by a Holder of Definitive Notes and such Holder’s compliance with the provisions of this Section 2.06(e), the Registrar will register the transfer or
exchange of Definitive Notes. Prior to such registration of transfer or exchange, the requesting Holder must present or surrender to the Registrar the Definitive Notes duly endorsed or accompanied by a written instruction of transfer in form
satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In addition, the requesting Holder must provide any additional certifications, documents and information, as applicable, required pursuant to
the following provisions of this Section 2.06(e). 
 (1) Restricted Definitive Notes to Restricted Definitive Notes.
Any Restricted Definitive Note may be transferred to and registered in the name of Persons who take delivery thereof in the form of a Restricted Definitive Note if the Registrar receives the following: 

(A) if the transfer will be made pursuant to Rule 144A, then the transferor must deliver a certificate in the form of Exhibit B
hereto, including the certifications in item (1) thereof; 
 (B) if the transfer will be made pursuant to Rule 903 or
Rule 904, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof; and 

  
 21 

 (C) if the transfer will be made pursuant to any other exemption from the
registration requirements of the Securities Act, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications, certificates and Opinion of Counsel required by item (3) thereof, if applicable. 

(2) Restricted Definitive Notes to Unrestricted Definitive Notes. Any Restricted Definitive Note may be exchanged by the
Holder thereof for an Unrestricted Definitive Note or transferred to a Person or Persons who take delivery thereof in the form of an Unrestricted Definitive Note if: 

(A) such exchange or transfer is effected pursuant to the Exchange Offers in accordance with the Registration Rights Agreement
and the Holder, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (i) a Broker-Dealer, (ii) a Person participating in the distribution of the Exchange
Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Issuer; 
 (B) any such transfer is effected
pursuant to the Shelf Registration Statement in accordance with the Registration Rights Agreement; 
 (C) any such transfer
is effected by a Broker-Dealer pursuant to the Exchange Offer Registration Statement in accordance with the Registration Rights Agreement; or 

(D) the Registrar receives the following: 

(i) if the Holder of such Restricted Definitive Notes proposes to exchange such Notes for an Unrestricted Definitive Note, a
certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(d) thereof; or 

(ii) if the Holder of such Restricted Definitive Notes proposes to transfer such Notes to a Person who shall take delivery
thereof in the form of an Unrestricted Definitive Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (D), if the Issuer or the Registrar so requests, an Opinion of Counsel in form reasonably
acceptable to the Issuer and the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in
order to maintain compliance with the Securities Act. 
 (3) Unrestricted Definitive Notes to Unrestricted Definitive
Notes. A Holder of Unrestricted Definitive Notes may transfer such Notes to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note. Upon receipt of a request to register such a transfer, the Registrar shall register
the Unrestricted Definitive Notes pursuant to the instructions from the Holder thereof. 

  
 22 

 (f) Exchange Offers. Upon the occurrence of the Exchange Offers in accordance with
the Registration Rights Agreement, the Issuer will issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof and any other documents that may be required under this Indenture, the Trustee will authenticate: 

(1) one or more Unrestricted Global Notes in aggregate principal amount equal to the principal amount of the beneficial
interests in the Restricted Global Notes accepted for exchange in the Exchange Offers by Persons that certify in the applicable Letters of Transmittal that (A) they are not Broker-Dealers, (B) they are not participating in a distribution
of the Exchange Notes and (C) they are not affiliates (as defined in Rule 144) of the Issuer; and 
 (2) Unrestricted
Definitive Notes in an aggregate principal amount equal to the principal amount of the Restricted Definitive Notes accepted for exchange in the Exchange Offers by Persons that certify in the applicable Letters of Transmittal that (A) they are
not Broker-Dealers, (B) they are not participating in a distribution of the Exchange Notes and (C) they are not affiliates (as defined in Rule 144) of the Issuer. 

Concurrently with the issuance of such Notes, the Trustee will cause the aggregate principal amount of the applicable Restricted Global Notes
to be reduced accordingly, and will cause the aggregate principal amount of the Unrestricted Global Notes to be increased accordingly, and the Issuer will execute and the Trustee will authenticate and deliver to the Persons designated by the Holders
of Definitive Notes so accepted Unrestricted Definitive Notes in the appropriate principal amount. 
 (g) Legends. The following
legends will appear on the face of all Global Notes and Definitive Notes issued under this Indenture unless specifically stated otherwise in the applicable provisions of this Indenture. 

(1) Private Placement Legend. 

(A) Except as permitted by subparagraph (B) below, each Global Note and each Definitive Note (and all Notes issued in
exchange therefor or substitution thereof) shall bear the legend in substantially the following form: 
 “THIS SECURITY (OR ITS PREDECESSOR) WAS
ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THIS SECURITY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH
REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THIS SECURITY IS HEREBY NOTIFIED THAT THE SELLER OF THIS SECURITY MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A
THEREUNDER. THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF REPRESENTS THAT IT IS (1) A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) OR (2) NOT A U.S. PERSON AND IS ACQUIRING ITS NOTE IN
AN “OFFSHORE TRANSACTION” PURSUANT TO RULE 904 OF REGULATION S UNDER THE SECURITIES ACT. 
 THE HOLDER OF THIS SECURITY AGREES FOR THE BENEFIT OF
BROADCOM INC. THAT (A) PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) WHICH IS ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE
OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), THIS SECURITY MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (I) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” (AS
DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (II) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF

  
 23 

 
AVAILABLE), (III) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE
SECURITIES ACT, (IV) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF SUBPARAGRAPH (a)(1), (2), (3) OR (7) OF RULE 501 UNDER THE SECURITIES ACT THAT IS ACQUIRING THIS SECURITY FOR ITS OWN ACCOUNT, OR FOR THE
ACCOUNT OF SUCH AN INSTITUTIONAL “ACCREDITED INVESTOR,” FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, (V) PURSUANT TO ANY OTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OR (VI) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY
STATE OF THE UNITED STATES, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THIS SECURITY OF THE RESALE RESTRICTIONS REFERRED TO IN CLAUSE (A) ABOVE. THIS LEGEND WILL BE REMOVED UPON THE EARLIER
OF THE TRANSFER OF THIS SECURITY PURSUANT TO CLAUSE (A)(VI) ABOVE OR REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. THE INDENTURE CONTAINS A PROVISION REQUIRING THE TRUSTEE TO REFUSE TO REGISTER THE TRANSFER OF THIS SECURITY IN
VIOLATION OF THE FOREGOING RESTRICTION.” 
 (B) Notwithstanding the foregoing, any Global Note or Definitive Note issued
pursuant to subparagraphs (b)(4), (c)(2), (c)(3), (d)(2), (d)(3), (e)(2), (e)(3) or (f) of this Section 2.06 (and all Notes issued in exchange therefor or substitution thereof) will not bear the Private Placement Legend. 

(2) Regulation S Global Note Legend. 

(A) Except as permitted by subparagraph (B) below, each Regulation S Global Note (and all Notes issued in exchange
therefor or substitution thereof) shall bear the legend in substantially the following form: 
 “UNTIL 40 DAYS AFTER THE LATER OF COMMENCEMENT OR
COMPLETION OF THE OFFERING, AN OFFER OR SALE OF NOTES WITHIN THE UNITED STATES BY A DEALER (AS DEFINED IN THE SECURITIES ACT) MAY VIOLATE THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT IF SUCH OFFER OR SALE IS MADE OTHERWISE THAN IN ACCORDANCE
WITH RULE 144A THEREUNDER.” 
 (B) Notwithstanding the foregoing, any Global Note or Definitive Note issued pursuant to
subparagraphs (b)(4), (c)(2), (c)(3), (d)(2), (d)(3), (e)(2), (e)(3) or (f) of this Section 2.06 (and all Notes issued in exchange therefor or substitution thereof) will not bear the Regulation S Global Note Legend. 

(3) Global Note Legend. Each Global Note will bear a legend in substantially the following form: 

“THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL
OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN
WHOLE BUT NOT IN PART PURSUANT TO 

  
 24 

 
SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE
TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN
DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO
A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE ISSUER OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN.” 
 (h) Cancellation and/or Adjustment of Global Notes. At such time as all
beneficial interests in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, such Global Note will be returned to or retained and canceled
by the Trustee in accordance with Section 2.11 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial
interest in another Global Note or for Definitive Notes, the principal amount of Notes represented by such Global Note will be reduced accordingly and an endorsement will be made on such Global Note by the Trustee or by the Depositary at the
direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note
will be increased accordingly and an endorsement will be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. 

(i) General Provisions Relating to Transfers and Exchanges. 

(1) To permit registrations of transfers and exchanges, the Issuer will execute and the Trustee will authenticate Global Notes
and Definitive Notes upon receipt of an Authentication Order in accordance with Section 2.02 hereof or at the Registrar’s request. 

(2) No service charge will be made to a holder of a beneficial interest in a Global Note or to a Holder of a Definitive Note
for any registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar governmental
charge payable upon exchange or transfer pursuant to Sections 2.10, 3.06, 3.09, 4.09 and 9.05 hereof). 
 (3) The Registrar
will not be required to register the transfer of or exchange of any Note selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part. 

  
 25 

 (4) All Global Notes and Definitive Notes issued upon any registration of
transfer or exchange of Global Notes or Definitive Notes will be the valid obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Global Notes or Definitive Notes surrendered upon such
registration of transfer or exchange. 
 (5) Neither the Registrar nor the Issuer will be required: 

(A) to issue, to register the transfer of or to exchange any Notes during a period beginning at the opening of business 15 days
before the day of any selection of Notes for redemption under Section 3.02 hereof and ending at the Close of Business on the day of selection; 

(B) to register the transfer of or to exchange any Note selected for redemption in whole or in part, except the unredeemed
portion of any Note being redeemed in part; or 
 (C) to register the transfer of or to exchange a Note between a record date
and the next succeeding Interest Payment Date. 
 (6) Prior to due presentment for the registration of a transfer of any
Note, the Trustee, any Agent and the Issuer may deem and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest on such Notes and for all other
purposes, and none of the Trustee, any Agent or the Issuer shall be affected by notice to the contrary. 
 (7) The Trustee
will authenticate Global Notes and Definitive Notes in accordance with the provisions of Section 2.02 hereof. 
 (8) All
certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this Section 2.06 to effect a registration of transfer or exchange may be submitted by facsimile. 

(9) Neither the Issuer, the Trustee nor any Agent shall have any responsibility or obligation to any Beneficial Owner in a
Global Note, a Depositary Participant or other Person with respect to the accuracy of the records of the Depositary or its nominee or of any Depositary Participant, with respect to any ownership interest in the Notes or with respect to the delivery
to any Depositary Participant, Beneficial Owner or other Person (other than the Depositary) of any notice (including any notice of redemption) or the payment of any amount, under or with respect to such Notes. All notices and communications to be
given to the Holders and all payments to be made to Holders under the Notes and this Indenture shall be given or made only to or upon the order of the registered Holders (which shall be the Depositary or its nominee in the case of the Global Note).
The rights of Beneficial Owners in the Global Note shall be exercised only through the Depositary subject to the Applicable Procedures. The Issuer, the Trustee and the Agents shall be entitled to rely and shall be fully protected in relying upon
information furnished by the Depositary with respect to its members, Participants and any Beneficial Owners. The Issuer, the Trustee and the Agents shall be entitled to deal with the Depositary, and any nominee thereof, that is the registered Holder
of any Global Note for all purposes of this Indenture relating to such Global Note (including the payment of principal, premium, if any, and interest and Additional Amounts, if any, and the giving of instructions or directions by or to the owner or
holder of a Beneficial Ownership interest in such Global Note) as the sole Holder of such Global Note and shall have no obligations to the Beneficial Owners thereof. Neither the Issuer, the Trustee nor any Agent shall have any responsibility or
liability for any acts or omissions of the Depositary with 

  
 26 

 
respect to such Global Note, for the records of any such Depositary, including records in respect of Beneficial Ownership interests in respect of any such Global Note, for any transactions
between the Depositary and any Depositary Participant or between or among the Depositary, any such Depositary Participant and/or any Holder or owner of a Beneficial Ownership interest in such Global Note, or for any transfers of Beneficial Ownership
interests in any such Global Note. 
 Notwithstanding the foregoing, with respect to any Global Note, nothing herein shall
prevent the Issuer, the Trustee, or any agent of the Issuer or the Trustee from giving effect to any written certification, proxy or other authorization furnished by any Depositary (or its nominee), as a Holder, with respect to such Global Note or
shall impair, as between such Depositary and owners of beneficial interests in such Global Note, the operation of customary practices governing the exercise of the rights of such Depositary (or its nominee) as Holder of such Global Note. 

Section 2.07 Replacement Notes. 
 If
any mutilated Note is surrendered to the Trustee or the Issuer and the Trustee receives evidence to each of their satisfaction of the destruction, loss or theft of any Note, the Issuer will issue and the Trustee, upon receipt of an Authentication
Order, will authenticate a replacement Note if the Trustee’s requirements are met. If required by the Trustee or the Issuer, an indemnity bond must be supplied by the Holder that is sufficient in the judgment of the Trustee to protect the
Trustee and the Issuer to protect the Issuer, the Trustee, any Agent and any authenticating agent from any loss, liability or expense that any of them may suffer if a Note is replaced. The Issuer may charge for its expenses in replacing a Note. 

Every replacement Note is an additional obligation of the Issuer and will be entitled to all of the benefits of this Indenture equally and
proportionately with all other Notes duly issued hereunder. 
 Section 2.08 Outstanding Notes. 

The Notes outstanding at any time are all the Notes authenticated by the Trustee except for those canceled by it, those delivered to it for
cancellation, those reductions in the interest in a Global Note effected by the Trustee in accordance with the provisions hereof, and those described in this Section 2.08 as not outstanding. Except as set forth in Section 2.09 hereof, a
Note does not cease to be outstanding because the Issuer or an Affiliate of the Issuer holds the Note; however, Notes held by the Issuer or a Subsidiary of the Issuer shall not be deemed to be outstanding for purposes of Section 3.07 hereof.

 If a Note is replaced pursuant to Section 2.07 hereof, it ceases to be outstanding unless the Trustee receives proof satisfactory to
it that the replaced Note is held by a protected purchaser. 
 If the principal amount of any Note is considered paid under
Section 4.01 hereof, it ceases to be outstanding and interest on it ceases to accrue. 
 If the Paying Agent (other than the Issuer or
its Subsidiaries or Affiliates) holds, on a Redemption Date or Maturity Date, money sufficient to pay Notes payable on that date, then on and after that date such Notes will be deemed to be no longer outstanding and will cease to accrue interest.

 Section 2.09 Treasury Notes. 

In determining whether the Holders of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned
by the Issuer, or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Issuer, will be considered as though not outstanding, except that for the purposes of determining whether the
Trustee will be protected in relying on any such direction, waiver or consent, only Notes that the Trustee knows are so owned will be so disregarded. 

  
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 Section 2.10 Temporary Notes. 

Until certificates representing Notes are ready for delivery, the Issuer may prepare and the Trustee, upon receipt of an Authentication Order,
will authenticate temporary Notes. Temporary Notes will be substantially in the form of Definitive Notes but may have variations that the Issuer considers appropriate for temporary Notes and as may be reasonably acceptable to the Trustee. Without
unreasonable delay, the Issuer will prepare and the Trustee will authenticate Definitive Notes in exchange for temporary Notes according to the procedures set forth in Section 2.06 hereof. 

Holders of temporary Notes will be entitled to all of the benefits of this Indenture. 

Section 2.11 Cancellation. 
 The
Issuer at any time may deliver Notes to the Trustee for cancellation. The Registrar and Paying Agent will forward to the Trustee any Notes surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else will cancel
all Notes surrendered for registration of transfer, exchange, payment, replacement or cancellation and will dispose of canceled Notes in accordance with the Trustee’s standard procedures (subject to the record retention requirements of the
Exchange Act and the Trustee). Certification of the cancellation of all canceled Notes will be delivered to the Issuer upon the Issuer’s written request. The Issuer may not issue new Notes to replace Notes that the Issuer has paid or that have
been delivered to the Trustee for cancellation. 
 Section 2.12 Defaulted Interest. 

If the Issuer defaults in a payment of interest on the Notes, it will pay the defaulted interest in any lawful manner plus, to the extent
lawful, interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer will notify the Trustee in writing of
the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Issuer will fix or cause to be fixed each such special record date and payment date; provided that no such special record date may be
less than 10 days prior to the related payment date for such defaulted interest. At least 15 days before the special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) will
send or cause to be sent to Holders a notice that states the special record date, the related payment date and the amount of such interest to be paid. 

  
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 Section 2.13 Additional Amounts 

After the occurrence of a Non-U.S. Domicile Transaction with respect to the Issuer or any successor in
interest to the Issuer, all payments made by the successor Person resulting from the Non-U.S. Domicile Transaction (each such successor Person resulting from a Non-U.S.
Domicile Transaction, a “non-U.S. Payor”) on or with respect to the Notes will be made without withholding or deduction for, or on account of, any present or future tax, duty, levy, impost,
assessment or other similar governmental charge (collectively, “Taxes”) unless such withholding or deduction is required by law or by the interpretation of administration of law. If any deduction or withholding for, or on account
of, any Taxes imposed or levied by or on behalf of: 
  

	 	(1)	 any jurisdiction (other than the United States or any political subdivision or governmental authority thereof
or therein having power to tax) from or through which payment on the Notes is made by or on behalf of a non-U.S. Payor, or any political subdivision or governmental authority thereof or therein having the
power to tax; or 

  

	 	(2)	 any jurisdiction (other than the United States or any political subdivision or governmental authority thereof
or therein having the power to tax) in which a non-U.S. Payor that makes a payment on the Notes is organized or otherwise considered to be a resident for tax purposes, or any political subdivision or
governmental authority thereof or therein having the power to tax 

 (each of clauses (1) and (2), a “Relevant Taxing
Jurisdiction”), will at any time be required from any payments made with respect to the Notes, including payments of principal, redemption price, interest or premium, if any, the non-U.S. Payor will
pay (together with such payments) such additional amounts (the “Additional Amounts”) as may be necessary in order that the net amounts received in respect of such payments by the Holder after such withholding or deduction (including
any such deduction or withholding from such Additional Amounts), will not be less than the amounts that would have been received in respect of such payments on the Notes in the absence of such withholding or deduction; provided,
however, that no such Additional Amounts will be payable for or on account of: 
  

	 	(1)	 any Taxes that would not have been so imposed or levied but for the existence of any present or former
connection between the relevant Holder (or between a fiduciary, settlor, beneficiary, partner, member or shareholder of, or possessor of power over, the relevant Holder, if such Holder is an estate, nominee, trust, partnership, limited liability
company or corporation) and the Relevant Taxing Jurisdiction (including being a citizen or resident or national of, or carrying on a business or maintaining a permanent establishment in, or being physically present in, the Relevant Taxing
Jurisdiction) but excluding, in each case, any connection arising solely from the acquisition, ownership or holding of such Notes or the enforcement or receipt of any payment in respect thereof; 

 

	 	(2)	 any Taxes that would not have been so imposed or levied if the Holder of the Note had complied with a
reasonable request in writing of the non-U.S. Payor (such request being made at a time that would enable such Holder acting reasonably to comply with that request) to make a declaration of nonresidence or any
other claim or filing or satisfy any certification, identification, information or reporting requirement for exemption from, or reduction in the rate of, withholding to which it is entitled (provided that such declaration of nonresidence or
other claim, filing or requirement is required by the applicable law, treaty, regulation or official administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from, or reduction in the rate of deduction or
withholding of, any such Taxes); 

  
 29 

	 	(3)	 any Taxes that are payable otherwise than by withholding from a payment on or with respect to the Notes;

  

	 	(4)	 any estate, inheritance, gift, sales, excise, transfer, personal property or similar Taxes;

  

	 	(5)	 any Taxes imposed in connection with a Note presented for payment (where presentation is required for payment)
by or on behalf of a Holder or beneficial owner who would have been able to avoid such Tax by presenting the relevant Note to, or otherwise accepting payment from, another Paying Agent; 

 

	 	(6)	 any Taxes payable under Sections 1471 through 1474 of the Code as of the date of the Offering Memorandum (or
any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant thereto, and any
intergovernmental agreements implementing the foregoing (including any legislation or other official guidance relating to such intergovernmental agreements); or 

 

	 	(7)	 any combination of the above. 

Such Additional Amounts will also not be payable (x) if the payment could have been made without such deduction or withholding if the
beneficiary of the payment had presented the Note for payment (where presentation is required) within 30 days after the relevant payment was due and first made available for payment to the Holder (provided that notice of such payment is given
to the Holders), except to the extent that the Holder or beneficial owner or other such Person would have been entitled to Additional Amounts on presenting the Note for payment on any date during such 30-day
period or (y) where, had the beneficial owner of the Note been the Holder of the Note, such beneficial owner would not have been entitled to payment of Additional Amounts by reason of any of clauses (1) to (7) inclusive above. 

The non-U.S. Payor will (i) make or cause to be made any required withholding or deduction and
(ii) remit or cause to be remitted the full amount deducted or withheld to the relevant taxing authority of the Relevant Taxing Jurisdiction in accordance with applicable law. The non-U.S. Payor will use
reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any Taxes so deducted or withheld from each relevant taxing authority of each Relevant Taxing Jurisdiction imposing such Taxes and will provide such certified
copies to the Trustee and the Holders. If, notwithstanding the efforts of such non-U.S. Payor to obtain such receipts, the same are not obtainable, such non-U.S. Payor
will provide the Trustee and the Holders with other reasonable evidence. 
 If any non-U.S. Payor
will be obligated to pay Additional Amounts under or with respect to any payment made on the Notes, at least 30 days prior to the date of such payment, the non-U.S. Payor will deliver to the Trustee an
Officer’s Certificate stating the fact that Additional Amounts will be payable and the amount so payable and such other information necessary to enable the Paying Agent to pay Additional Amounts to Holders on the relevant payment date (unless
such obligation to pay Additional Amounts arises less than 45 days prior to the relevant payment date, in which case the non-U.S. Payor shall deliver such Officer’s Certificate and such other information
as promptly as practicable after the date that is 30 days prior to the payment date). The Trustee shall be entitled to rely solely on such Officer’s Certificate as conclusive proof that such payments are necessary. 

  
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 Wherever in this Indenture or the Notes there is mention of, in any context: 

 

	 	(1)	 the payment of principal; 

 

	 	(2)	 redemption prices or purchase prices in connection with a redemption or purchase of Notes;

  

	 	(3)	 interest; or 

  

	 	(4)	 any other amount payable on or with respect to any of the Notes; 

such reference shall be deemed to include payment of Additional Amounts as described under this Section 2.13 to the extent that, in such context,
Additional Amounts are, were or would be payable in respect thereof. 
 The non-U.S. Payor will pay
any present or future stamp, court or documentary Taxes, or any other excise, property or similar Taxes that arise in any Relevant Taxing Jurisdiction from the execution, delivery, issuance, initial resale, registration or enforcement of any Notes,
this Indenture or any other document or instrument in relation thereto (other than a transfer of the Notes). The foregoing obligations will survive any termination, defeasance or discharge of this Indenture and will apply mutatis mutandis to
any jurisdiction in which any successor to a non-U.S. Payor is organized or otherwise considered to be a resident for tax purposes or any political subdivision or taxing authority or agency thereof or therein.

 ARTICLE 3. 
 REDEMPTION
AND PREPAYMENT 
 Section 3.01 Notices to Trustee. 

If the Issuer elects to redeem Notes pursuant to the optional redemption provisions of Section 3.07 hereof, it must furnish to the
Trustee, five Business Days prior to the date notice is to be given to Holders of such redemption (unless a shorter notice period shall be agreed to by the Trustee), an Officer’s Certificate setting forth: 

 

	 	(1)	 the clause of this Indenture pursuant to which the redemption shall occur; 

 

	 	(2)	 the Redemption Date; 

 

	 	(3)	 the principal amount of Notes to be redeemed; and 

 

	 	(4)	 the redemption price. 

Section 3.02 Selection of Notes to Be Redeemed or Purchased. 

If less than all of the Notes are to be redeemed or purchased in an offer to purchase at any time, the Trustee will select Notes for
redemption pro rata, by lot or by such method the Trustee deems to be fair and appropriate in accordance with the Applicable Procedures (in the case of the Global Notes), if any, unless otherwise required by law or applicable stock exchange or
depositary requirements. 
 In the event of partial redemption or purchase by lot, the particular Notes to be redeemed or purchased will be
selected, unless otherwise provided herein, not less than 30 nor more than 60 days prior to the redemption or purchase date by the Trustee from the outstanding Notes not previously called for redemption or purchase. 

  
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 The Trustee will promptly notify the Issuer in writing of the Notes selected for redemption
or purchase and, in the case of any Note selected for partial redemption or purchase, the principal amount thereof to be redeemed or purchased. Notes and portions of Notes selected will be in amounts of $2,000 or whole multiples of $1,000 in excess
thereof; except that if all of the Notes of a Holder are to be redeemed or purchased, the entire outstanding amount of Notes held by such Holder shall be redeemed or purchased. Except as provided in the preceding sentence, provisions of this
Indenture that apply to Notes called for redemption or purchase also apply to portions of Notes called for redemption or purchase. 
 Section 3.03
Notice of Redemption. 
 Subject to the provisions of Section 3.09 hereof, at least 10 days but not more than 60 days before a
Redemption Date, the Issuer will deliver a notice of redemption to each Holder whose Notes are to be redeemed at its registered address (or electronically in accordance with the Applicable Procedures in the case of Global Notes), except that
redemption notices may be sent more than 60 days prior to a Redemption Date if the notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of this Indenture pursuant to Articles 8 or 10 hereof. 

The notice will identify Notes to be redeemed and will state: 

(1) the Redemption Date; 

(2) the redemption price; 

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

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

(5) that Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price; 

(6) that, unless the Issuer defaults in making such redemption payment, interest on Notes called for redemption ceases to
accrue on and after the Redemption Date; 
 (7) the paragraph of the Notes and/or Section of this Indenture pursuant to which
the Notes called for redemption are being redeemed; and 
 (8) that no representation is made as to the correctness or
accuracy of the CUSIP number, if any, listed in such notice or printed on the Notes. 
 At the Issuer’s request, the Trustee will
deliver the notice of redemption in the Issuer’s name and at its expense; provided, however, that the Issuer has delivered to the Trustee, five Business Days prior to the date notice is to be given to Holders of such redemption (unless a
shorter notice period shall be agreed to by the Trustee), an Officer’s Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in the preceding paragraph. 

  
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 Notice of any redemption of Notes may, at the Issuer’s discretion, be subject to one or
more conditions precedent with respect to completion of a corporate transaction (including, but not limited to, any merger, acquisition, disposition, asset sale or corporate restructuring or reorganization) or financing (including, but not limited
to, any incurrence of indebtedness (or entering into a commitment with respect thereto), sale and leaseback transaction, issuance of securities, equity offering or contribution, liability management transaction or other capital raise) and may be
given prior to the completion thereof. If such redemption or purchase is so subject to satisfaction of one or more conditions precedent, such notice shall describe each such condition, and such notice may be rescinded in the event that any or all
such conditions shall not have been satisfied by the Redemption Date. In addition, the Issuer may provide in such notice that payment of the redemption price and performance of the Issuer’s obligations with respect to such redemption may be
performed by another person. 
 Section 3.04 Effect of Notice of Redemption. 

Subject to the last two paragraphs of Section 3.03, once notice of redemption is mailed in accordance with Section 3.03 hereof,
Notes called for redemption become irrevocably due and payable on the Redemption Date at the redemption price. 
 Section 3.05 Deposit of Redemption
or Purchase Price. 
 By 10:00 a.m. Eastern Time on the date of the redemption or purchase date, the Issuer will deposit with the
Trustee or with the Paying Agent money sufficient to pay the redemption or purchase price of, accrued interest and Additional Interest, if any, on all Notes to be redeemed on that date. The Trustee or the Paying Agent will promptly return to the
Issuer any money deposited with the Trustee or the Paying Agent by the Issuer in excess of the amounts necessary to pay the redemption or purchase price of, accrued interest and Additional Interest, if any, on all Notes to be redeemed or purchased.

 If the Issuer complies with the provisions of the preceding paragraph, on and after the redemption or purchase date, interest will cease
to accrue on the Notes or the portions of Notes called for redemption or purchase. If a Note is redeemed or purchased on or after an interest record date but on or prior to the related Interest Payment Date, then any accrued and unpaid interest
shall be paid to the Person in whose name such Note was registered at the Close of Business on such record date. If any Note called for redemption or purchase is not so paid upon surrender for redemption or purchase because of the failure of the
Issuer to comply with the preceding paragraph, interest shall be paid on the unpaid principal, from the redemption or purchase date until such principal is paid, and to the extent lawful on any interest not paid on such unpaid principal, in each
case at the rate provided in the Notes and in Section 4.01 hereof. 
 Section 3.06 Notes Redeemed or Purchased in Part. 

Upon surrender of a Note that is redeemed or purchased in part, the Issuer will issue and, upon receipt of an Authentication Order, the
Trustee will authenticate for the Holder at the expense of the Issuer a new Note equal in principal amount to the unredeemed or unpurchased portion of the Note surrendered. 

Section 3.07 Optional Redemption. 

(a) Prior to February 15, 2037 (three months prior to the Maturity Date) (the “Par Call Date”), the Issuer may redeem
the Notes at its option, in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of: 

(1) (a) the sum of the present values of the Remaining Scheduled Payments of principal and interest on the Notes to be
redeemed, discounted to the Redemption Date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day
months) at the Treasury Rate, plus 35 basis points less (b) interest accrued to, but excluding, the Redemption Date; and 

  
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 (2) 100% of the principal amount of the Notes to be redeemed, 

plus, in either case, accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

(b) On or after the Par Call Date, the Issuer may redeem the Notes, in whole or in part, at any time and from time to time, at a redemption
price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

(c) Notwithstanding the foregoing, installments of interest on the Notes to be redeemed that are due and payable on Interest Payment Dates
falling on or prior to a Redemption Date will be payable on the Interest Payment Date to the registered Holders of the Notes as of the Close of Business on the corresponding Regular Record Date. 

(d) The Issuer’s actions and determinations in determining the redemption price shall be conclusive and binding for all purposes, absent
manifest error. The Trustee has no duty to calculate or verify the calculation of the redemption price. 
 Section 3.08 Mandatory Redemption.

 The Issuer is not required to make mandatory redemption or sinking fund payments with respect to the Notes. 

Section 3.09 Redemption for Taxation Reasons 

A non-U.S. Payor may redeem the Notes, at its option, in whole, but not in part, at a redemption price
equal to 100% of the principal amount thereof, upon not less than 10 nor more than 60 days’ prior notice to the Holders of Notes (which notice shall be irrevocable), together with accrued and unpaid interest, if any, to (but not including) the
date fixed for redemption (a “Tax Redemption Date”) (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date falling prior to the Tax Redemption Date) and
all Additional Amounts, if any, then due or that will become due on the Tax Redemption Date as a result of the redemption or otherwise, if any, if the non-U.S. Payor determines in good faith that, as a result
of: 
  

	 	(1)	 any change in, or amendment to, the law or treaties (or any regulations, protocols or rulings promulgated
thereunder) of a Relevant Taxing Jurisdiction affecting taxation; or 

  

	 	(2)	 any change in, or amendment to, an official position or the introduction of an official position regarding the
application, administration or interpretation of such laws, treaties, regulations, protocols or rulings (including a holding, judgment or order by a government agency or court of competent jurisdiction or a change in published administrative
practice) (each of the foregoing in clauses (1) and (2), a “Change in Tax Law”), 

 the non-U.S. Payor is, or on the next date on which any amount would be payable in respect of the Notes would be, required to pay any Additional Amounts with respect to the Notes, and such obligation cannot be avoided
by taking reasonable measures available to the non-U.S. Payor (including the appointment of a new Paying Agent). 

  
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 In the case of any non-U.S. Payor, the Change in Tax
Law must become effective after the date the applicable Relevant Taxing Jurisdiction becomes a Relevant Taxing Jurisdiction. Notwithstanding the foregoing, no such notice of redemption will be given earlier than 90 days prior to the earliest date on
which the non-U.S. Payor would be obligated to make such payment of Additional Amounts. Prior to the publication, mailing or delivery of any notice of redemption of the Notes pursuant to the foregoing, the non-U.S. Payor will deliver to the Trustee (a) an Officer’s Certificate stating that it is entitled to effect such redemption and setting forth a statement of facts showing that the conditions precedent to
its right so to redeem have been satisfied and (b) an opinion of an independent tax counsel of recognized standing to the effect that the non-U.S. Payor would be obligated to pay Additional Amounts as a
result of a Change in Tax Law. The Trustee will accept such Officer’s Certificate and opinion as sufficient evidence of the satisfaction of the conditions precedent described above, in which event it will be conclusive and binding on the
Holders. 
 The foregoing provisions will apply mutatis mutandis to the laws and official positions of any jurisdiction in which any
successor to a non-U.S. Payor is organized or otherwise considered to be a resident for tax purposes or any political subdivision or taxing authority or agency thereof or therein. The foregoing provisions will
survive any termination, defeasance or discharge of this Indenture. 
 ARTICLE 4. 

COVENANTS 
 Section 4.01 Payment of
Notes. 
 The Issuer covenants and agrees for the benefit of the Holders of the Notes that it will duly and punctually pay the principal
of and any premium and interest and Additional Interest, if any, on the Notes in accordance with the terms of such Notes and this Indenture. Principal, premium, if any, interest and Additional Interest, if any, will be considered paid on the date
due if the Paying Agent, if other than the Issuer or a Subsidiary thereof, holds as of 10:00 a.m. Eastern Time on the due date money deposited by the Issuer in immediately available funds and designated for and sufficient to pay all principal,
premium, if any, and interest, if any, then due. The Issuer will pay all Additional Interest, if any, in the same manner on the dates and in the amounts set forth in the Registration Rights Agreement. 

Section 4.02 Maintenance of Office or Agency. 

The Issuer will maintain an office or agency (which may be an office of the Trustee or an Affiliate of the Trustee, Registrar or co-registrar) where Notes may be surrendered for registration of transfer or for exchange and where notices and demands to or upon the Issuer in respect of the Notes and this Indenture may be made. The Issuer will
give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Issuer fails to maintain any such required office or agency or fail to furnish the Trustee with the address
thereof, such presentations, surrenders, notices and demands may be made at the Corporate Trust Office of the Trustee; provided that, no office of the Trustee shall be an office or agency of the Issuer for the purpose of effecting service of
legal process on the Issuer. 
 The Issuer may also from time to time designate one or more other offices or agencies where the Notes may be
presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission will in any manner relieve the Issuer of its obligation to maintain an office
or agency in the United States for such purposes. The Issuer will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. 

  
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 The Issuer hereby designates the Corporate Trust Office of the Trustee as one such office or
agency of the Issuer in accordance with Section 2.03 hereof. 
 Section 4.03 Reports. 

(a) To the extent any Notes are outstanding, the Issuer shall deliver to the Trustee any reports, information and documents that the Issuer is
required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act within 30 days after such report, information or document is required to be filed with the SEC. The Issuer also shall comply with the other provisions of TIA
§314(a), to the extent applicable. Reports, information and documents filed with the SEC via the EDGAR system will be deemed to be delivered to the Trustee as of the time of such filing via EDGAR for purposes of this Section 4.03, it being
understood that the Trustee shall not be responsible for determining whether such filings have been made. Delivery of reports, information and documents to the Trustee under this Section 4.03(a) is for informational purposes only and the
Trustee’s receipt of the foregoing shall not constitute actual or constructive notice of any information contained therein or determinable from information contained therein, including the Issuer’s compliance with any of the covenants
hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates). All such reports, information or documents referred to in this Section 4.03 that the Issuer files with the SEC via the SEC’s EDGAR system
shall be deemed to be filed with the Trustee and transmitted to Holders at the time such reports, information or documents are filed via the EDGAR system (or any successor system). 

(b) For so long as any Notes remain outstanding, if at any time the Issuer is not required to file with the SEC the reports required by
Section 4.03(a), the Issuer will furnish to the Holders and to securities analysts and prospective investors, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 

Section 4.04 Compliance Certificate. 

The Issuer shall deliver to the Trustee, within 120 days after the end of each fiscal year of the Issuer, an Officer’s Certificate
stating that a review of the activities of the Issuer and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers with a view to determining whether the Issuer has kept, observed, performed and
fulfilled its obligations under this Indenture, and further stating, as to such Officer signing such certificate, that to the best of his or her knowledge the Issuer has kept, observed, performed and fulfilled each and every covenant contained in
this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions of this Indenture (or, if a Default or Event of Default has occurred, describing all such Defaults or Events of Default of which he
or she may have knowledge and what action the Issuer is taking or proposes to take with respect thereto) and that to the best of his or her knowledge no event has occurred and remains in existence by reason of which payments on account of the
principal of, premium on, if any, interest or Additional Interest, if any, on the Notes is prohibited or if such event has occurred, a description of the event and what action the Issuer is taking or proposes to take with respect thereto. 

Section 4.05 Taxes. 
 The Issuer
will pay, and will cause each of its Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and governmental levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such
payment is not adverse in any material respect to the Holders of the Notes. 

  
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 Section 4.06 Stay, Extension and Usury Laws. 

The Issuer covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, plead, or in any manner whatsoever
claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and the Issuer (to the extent that it may
lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit
the execution of every such power as though no such law has been enacted. 
 Section 4.07 Corporate Existence. 

Subject to Article 5 hereof, the Issuer shall do or cause to be done all things necessary to preserve and keep in full force and effect its
corporate existence. 
 Section 4.08 Limitation on Secured Debt. 

The Issuer will not (nor will the Issuer permit any of its Subsidiaries to) create, assume, or guarantee any Secured Debt without making
effective provision for securing the Notes equally and ratably with such Secured Debt. The foregoing restrictions in the immediately preceding sentence shall not apply, however, to debt secured by: 

(a) purchase money mortgages created to secure payment for the acquisition, construction or improvement of any Property including, but not
limited to, any Indebtedness incurred by the Issuer or a Subsidiary of the Issuer prior to, at the time of, or within 18 months after the later of the acquisition, the completion of construction (including any improvements on an existing property)
or the commencement of commercial operations of such Property, which Indebtedness is incurred for the purpose of financing all or any part of the purchase price of such Property or construction or improvements on such Property; 

(b) mortgages, pledges, liens, security interests or encumbrances (collectively referred to as security interests) on Property, or any
conditional sales agreement or any title retention with respect to Property, existing at the time of acquisition thereof, whether or not assumed by the Issuer or a Subsidiary of the Issuer, provided such security interests are not created in
anticipation or in furtherance of such acquisition; 
 (c) security interests on Property of any Person existing at the time such Person
becomes a Subsidiary; 
 (d) security interests on Property of a Person existing at the time such Person is merged or amalgamated into or
otherwise consolidated with the Issuer or a Subsidiary of the Issuer or at the time of a sale, lease, or other disposition of the Properties of a Person as an entirety or substantially as an entirety to the Issuer or a Subsidiary of the Issuer,
provided that no such security interests shall extend to any other Principal Property of the Issuer or such Subsidiary prior to such acquisition or to other Principal Property thereafter acquired other than additions or improvements to the
acquired Property; 
 (e) security interests on Property of the Issuer or Property of a Subsidiary of the Issuer in favor of the United
States of America or any state thereof, or in favor of any other country, or any department, agency, instrumentality or political subdivision thereof (including, without limitation, security interests to secure Indebtedness of the pollution control
or industrial revenue type) in order to permit the Issuer or any Subsidiary of the Issuer to perform a contract or to secure Indebtedness incurred for the purpose of financing all or any part of the purchase price for the cost of constructing or
improving the Property subject to such security interests or which is required by law or regulation as a condition to the transaction of any business or the exercise of any privilege, franchise or license; 

  
 37 

 (f) security interests on any Property or assets of the Issuer or any Subsidiary of the
Issuer to secure Indebtedness owing by it to the Issuer or any Subsidiary of the Issuer; 
 (g) liens securing reimbursement obligations
with respect to letters of credit related to trade payables and issued in the ordinary course of business, which liens encumber documents and other Property relating to such letters of credit and the products and proceeds thereof; 

(h) liens encumbering customary initial deposits and margin deposits and other liens in the ordinary course of business, in each case securing
Indebtedness under any interest swap obligations and currency agreements and forward contracts, options, futures contracts, futures options or similar agreements or arrangements designed to protect the Issuer or any of its Subsidiaries from
fluctuations in interest rates or currencies; or 
 (i) any extension, renewal or replacement, or successive extensions, renewals or
replacements, in whole or in part, of any security interest referred to in the foregoing clauses (a)-(h); to the extent that the principal amount thereof is not increased other than by transaction costs and premiums, if any, and no additional
Principal Property other than Principal Property permitted to be so secured under the foregoing clauses (a)-(h) is subject thereto. 
 Section 4.09
Offer to Purchase Upon Change of Control Triggering Event. 
 Upon the occurrence of a Change of Control Triggering Event, unless the
Issuer has exercised its right to redeem all outstanding Notes pursuant to Section 3.07, each Holder of Notes will have the right to require the Issuer to purchase all or a portion (equal to $2,000 or an integral multiple of $1,000 in excess
thereof) of such Holder’s Notes pursuant to the offer described below (the “Change of Control Offer”), at a purchase price equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest, if any, to,
but excluding, the date of purchase (the “Change of Control Payment”), subject to the rights of Holders on the relevant record date to receive interest due on the relevant Interest Payment Date. Within 30 days following the date
upon which the Change of Control Triggering Event occurred, or, at the Issuer’s option, prior to and conditioned on the occurrence of, any Change of Control, but after public announcement of the transaction that constitutes or may constitute
the Change of Control, the Issuer will deliver a notice to each Holder, with a copy to the Trustee, which notice shall govern the terms of the Change of Control Offer. Such notice will state, among other things, the purchase date, which must be no
earlier than 30 days nor later than 60 days from the date such notice is sent and, if the notice is sent prior to the Change of Control, no earlier than the date of the occurrence of the Change of Control, other than as may be required by law (the
“Change of Control Payment Date”). The notice will, if sent prior to the date of consummation of the Change of Control, state that the Change of Control Offer is conditioned on the Change of Control Triggering Event occurring on or
prior to the Change of Control Payment Date. The Issuer must comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws
and regulations are applicable in connection with the purchase of the Notes pursuant to a Change of Control Offer. To the extent that the provisions of any securities laws or regulations conflict with this Section 4.09, the Issuer will comply
with those securities laws and regulations and will not be deemed to have breached its obligations under this Section 4.09 by virtue of such conflicts. 

  
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 Holders of Definitive Notes electing to have a note purchased pursuant to a Change of
Control Offer will be required to surrender the Note, with the form entitled “Option of Holder to Elect Purchase” on the reverse of the Note completed, to the Paying Agent at the address specified in the notice. Holders of Global Notes
must transfer their Notes to the Paying Agent by book-entry transfer pursuant to the Applicable Procedures of the Paying Agent and the Depositary (in the case of Global Notes), in each case prior to the Close of Business on the third Business Day
prior to the Change of Control Payment Date. 
 On the Change of Control Payment Date, the Issuer shall, to the extent lawful: 

(1) accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer; 

(2) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes
properly tendered; and 
 (3) deliver or cause to be delivered to the Trustee the Notes properly accepted together with an
Officer’s Certificate stating the aggregate principal amount of Notes or portions of Notes being repurchased. 
 The Paying Agent will promptly pay to
each Holder of Notes properly tendered the Change of Control Payment for such Notes, and the Trustee will promptly authenticate (or cause to be transferred by book-entry) a new Note equal in principal amount to any unpurchased portion of any Notes
surrendered; provided that each new Note will be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. 

Notwithstanding anything to the contrary in this Section 4.09, the Issuer will not be required to make a Change of Control Offer if a third party makes
such an offer in the manner and at the times required and otherwise in compliance with the requirements applicable to such an offer had it been made by the Issuer, and such third party purchases all Notes properly tendered and not withdrawn under
its offer. In addition, the Issuer may not repurchase any Notes if there has occurred and is continuing on the Change of Control Payment Date an Event of Default hereunder, other than a Default in the payment of the Change of Control Payment upon a
Change of Control Triggering Event. 
 Section 4.10 Limitation on Sale and Lease-back Transactions. 

The Issuer will not (nor will the Issuer permit any of its Subsidiaries to) enter into any sale and lease-back transaction for the sale and
leasing back of any Principal Property (a “Sale and Lease-back Transaction”), whether now owned or hereafter acquired, of the Issuer or any Subsidiary of the Issuer, unless: 

(a) such transaction was entered into prior to the issue date of the Notes; 

(b) such transaction involves a lease for less than three years; 

(c) such transaction involves the sale and leasing back to the Issuer of any Principal Property by one of its Subsidiaries, the sale and
leasing back to one of the Issuer’s Subsidiaries by the Issuer or the sale and leasing back to one of the Issuer’s Subsidiaries by another of the Issuer’s Subsidiaries; 

(d) the Issuer or such Subsidiary would be entitled to incur Secured Debt on the Principal Property to be leased in an amount at least equal
to the Attributable Liens with respect to such Sale and Lease-back Transaction without equally and ratably securing the Notes pursuant to Section 4.08; or 

  
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 (e) the Issuer applies an amount equal to the fair market value of the Principal Property
sold, within 180 days of such Sale and Lease-back Transaction, to any of (or a combination of) (a) the prepayment or retirement of the Notes, (b) the prepayment or retirement of Indebtedness for borrowed money of the Issuer or a Subsidiary
of the Issuer (other than Indebtedness that is contractually subordinated to the Notes) or (c) the purchase, construction, development, expansion or improvement of Principal Property. 

Section 4.11 Exempted Indebtedness. 

Notwithstanding Sections 4.08 and 4.10, the Issuer and any one or more of its Subsidiaries may, without securing the Notes, issue, assume, or
guarantee Secured Debt or enter into any Sale and Lease-Back Transaction that would otherwise be subject to the Section 4.08 or 4.10; provided that, after giving effect thereto, the aggregate amount of such Secured Debt then outstanding
(other than Secured Debt permitted under Section 4.08) and the Attributable Liens of Sale and Lease-back Transactions, other than Sale and Lease-Back Transactions set forth in Section 4.10, at such time does not exceed the greater of (i)
15% of the Consolidated Net Tangible Assets of the Issuer calculated as of the date of the creation or incurrence of such Secured Debt or Sale and Lease-Back Transactions and (ii) $2,000 million, in each case after giving effect to such
incurrence and the application of the proceeds therefrom. 
 Section 4.12 Classification 

For purposes of determining compliance with Sections 4.08 and 4.10, in the event that any Secured Debt meets the criteria of more than one of
the types of Secured Debt set forth in Section 4.08, the Issuer, in its sole discretion, shall classify such Secured Debt and shall only be required to include the amount and type of such Secured Debt in one of Section 4.08(a) through
(i) above or under Section 4.11, and Secured Debt may be divided and classified at the time of incurrence into more than one of the types of Secured Debt described in Section 4.08 or in Section 4.11. 

ARTICLE 5. 
 SUCCESSORS 

Section 5.01 Merger, Consolidation or Sale of Assets. 

The Issuer may not consolidate with or merge with or into, or convey, transfer or lease all or substantially all of its properties and assets
to, any Person, referred to as a “successor Person,” unless: 
 (1) the Issuer is the surviving Person or the
successor Person (if other than the Issuer) is a Person organized and validly existing under the laws of any U.S. domestic jurisdiction, any current or former member state of the European Union, Canada or any province of Canada, the United Kingdom,
Switzerland, the Republic of Singapore, Bermuda or the Cayman Islands and expressly assumes by supplemental indenture the Issuer’s obligations on the Notes and under this Indenture (any such transaction resulting in an entity organized or
existing under the laws of any jurisdiction other than a U.S. domestic jurisdiction, a “Non-U.S. Domicile Transaction”); 

(2) immediately after giving effect to the transaction, no Default or Event of Default shall have occurred and be continuing
under this Indenture; and 
 (3) the Issuer has delivered to the Trustee prior to the consummation of the proposed
transaction an Officer’s Certificate to the foregoing effect and an Opinion of Counsel stating that the proposed transaction and the supplemental indenture comply with this Indenture. 

  
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 Section 5.02 Successor Corporation Substituted. 

Upon any consolidation of the Issuer with, or merger of the Issuer into, any other Person or any conveyance, transfer or lease of the
properties and assets of the Issuer substantially as an entirety in accordance with Section 5.01, the successor Person formed by such consolidation or into which the Issuer is merged or to which such conveyance, transfer or lease is made shall
succeed to, and be substituted for, and may exercise every right and power of, the Issuer under this Indenture with the same effect as if such successor Person had been named as the Issuer herein, and thereafter, except in the case of a lease, the
predecessor Person shall be relieved of all obligations and covenants under this Indenture and the Notes; provided, however, that the predecessor Issuer shall not be relieved from the obligation to pay the principal of, premium on, if any,
interest and Additional Interest, if any, on, the Notes except in the case of a sale of all of the Issuer’s assets in a transaction that is subject to, and that complies with the provisions of, Section 5.01 hereof. 

ARTICLE 6. 
 DEFAULTS AND
REMEDIES 
 Section 6.01 Events of Default. 

“Event of Default,” wherever used herein with respect to Notes, means any of the following events (whatever the reason for
such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 

(a) default in the payment of any interest, including any Additional Interest, on the Notes when it becomes due and payable, and continuance of
that default for a period of 30 days (unless the entire amount of such payment is deposited by the Issuer with the Trustee or with a Paying Agent prior to the expiration of such 30-day period); or 

(b) default in the payment of principal of the Notes when due and payable; or 

(c) default in the performance or breach of any other covenant or warranty by the Issuer hereunder (other than a covenant or warranty that has
been included in this Indenture solely for the benefit of a series of debt securities other than the Notes), which default continues uncured for a period of 60 days after the Issuer receives written notice from the Trustee or the Issuer and the
Trustee receive written notice from the Holders of not less than 25% in principal amount of the outstanding Notes as provided hereunder; or 

(d) the Issuer, pursuant to or within the meaning of any Bankruptcy Law: 

(1) commences proceedings to be adjudicated bankrupt or insolvent; 

(2) consents to the institution of bankruptcy or insolvency proceedings against it, or the filing by it of a petition or answer
or consent seeking reorganization or relief under applicable Bankruptcy Law; 
 (3) consents to the appointment of a
receiver, liquidator, assignee, trustee, sequestrator or other similar official of it or for all or substantially all of its property; 

(4) makes a general assignment for the benefit of its creditors; 

  
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 (5) generally is not paying its debts as they become due or takes any
comparable action under any foreign laws relating to insolvency; or 
 (e) a court of competent jurisdiction enters an order or decree under
any Bankruptcy Law that: 
 (1) is for relief against the Issuer, in a proceeding in which the Issuer is to be adjudicated
bankrupt or insolvent; 
 (2) appoints a receiver, liquidator, assignee, trustee, sequestrator or other similar official of
the Issuer, or for all or substantially all of the property of the Issuer; or 
 (3) the liquidation of the Issuer; 

or any similar relief is granted under any foreign laws and the order or decree remains unstayed and in effect for 60 consecutive days. 

Section 6.02 Acceleration of Maturity; Rescission and Annulment. 

If an Event of Default with respect the Notes occurs and is continuing (other than an Event of Default specified in Section 6.01(d) or
6.01(e)), then the Trustee or the Holders of not less than 25% in principal amount of the outstanding Notes may declare the principal amount of and accrued and unpaid interest, if any, on all Notes to be due and payable immediately, by a notice in
writing to the Issuer (and to the Trustee if given by the Holders), and upon such declaration such principal amount and accrued and unpaid interest, if any, shall become immediately due and payable. In the case of an Event of Default specified in
Section 6.01(d) or 6.01(e), the principal of and accrued and unpaid interest, if any, on all outstanding Notes will become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder of
outstanding Notes. 
 At any time after such a declaration of acceleration with respect to the Notes has been made and before a judgment or
decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the outstanding Notes, by written notice to the Issuer and the Trustee, may rescind and
annul such a declaration and its consequences if: 
 (a) the Issuer has paid or deposited with the Trustee a sum sufficient to pay: 

(1) all overdue interest on all Notes, 

(2) the principal of (and premium, if any, on) any Notes that has become due otherwise than by such declaration of acceleration
and any interest thereon at the rate or rates prescribed therefor in such Notes, 
 (3) to the extent that payment of such
interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Notes, and 
 (4) all
sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and 

(b) all Events of Default with respect to the Notes, other than the non-payment of accelerated
principal and interest, if any, with respect to the Notes, have been cured or waived as provided in Section 6.13. 

  
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 No such rescission shall affect any subsequent Default or impair any right consequent
thereon. 
 Any notice of Default, notice of acceleration or instruction to the Trustee to provide a notice of Default, notice of
acceleration or take any other action (a “Noteholder Direction”) provided by any one or more holders (each a “Directing Holder”) must be accompanied by a written representation from each such Holder delivered to the
Issuer and the Trustee that such Holder is not (or, in the case such Holder is DTC or its nominee, that such Holder is being instructed solely by beneficial owners that have represented to such Holder that they are not) Net Short (a
“Position Representation”), which representation, in the case of a Noteholder Direction relating to the delivery of a notice of Default shall be deemed a continuing representation until the resulting Event of Default is cured or
otherwise ceases to exist or the Notes are accelerated. In addition, each Directing Holder is deemed, at the time of providing a Noteholder Direction, to covenant to provide the Issuer with such other information as the Issuer may reasonably request
from time to time in order to verify the accuracy of such Holder’s Position Representation within five Business Days of request therefor (a “Verification Covenant”). In any case in which the Holder is DTC or its nominee, any
Position Representation or Verification Covenant required hereunder shall be provided by the beneficial owners of the Notes in lieu of DTC or its nominee, and DTC shall be entitled to conclusively rely on such Position Representation and
Verification Covenant in delivering its direction to the Trustee. 
 If, following the delivery of a Noteholder Direction, but prior to
acceleration of the Notes, the Issuer determines in good faith that there is a reasonable basis to believe a Directing Holder was, at any relevant time, in breach of its Position Representation and provides to the Trustee an Officer’s
Certificate stating that the Issuer has initiated litigation in a court of competent jurisdiction seeking a determination that such Directing Holder was, at such time, in breach of its Position Representation, and seeking to invalidate any Event of
Default that resulted from the applicable Noteholder Direction, the cure period with respect to such Default shall be automatically stayed and the cure period with respect to such Event of Default shall be automatically reinstituted and any remedy
stayed pending a final and non-appealable determination of a court of competent jurisdiction on such matter. If, following the delivery of a Noteholder Direction, but prior to acceleration of the Notes, the
Issuer provides to the Trustee an Officer’s Certificate stating that a Directing Holder failed to satisfy its Verification Covenant, the cure period with respect to such Default shall be automatically stayed and the cure period with respect to
any Event of Default that resulted from the applicable Noteholder Direction shall be automatically reinstituted and any remedy stayed pending satisfaction of such Verification Covenant. Any breach of the Position Representation shall result in such
Holder’s participation in such Noteholder Direction being disregarded; and, if, without the participation of such Holder, the percentage of notes held by the remaining Holders that provided such Noteholder Direction would have been insufficient
to validly provide such Noteholder Direction, such Noteholder Direction shall be void ab initio (other than any indemnity such Directing Holder may have offered the Trustee), with the effect that such Event of Default shall be deemed never to
have occurred, acceleration voided and the Trustee shall be deemed not to have received such Noteholder Direction or any notice of such Default or Event of Default. A Position Representation may be substantially in the form of Exhibit D hereto with
such other changes and information as reasonably requested by the Issuer and the Trustee. 
 For the avoidance of doubt, the Trustee shall
be entitled to conclusively rely on any Noteholder Direction delivered to it in accordance with this Indenture, shall have no duty to inquire as to or investigate the accuracy of any Position Representation, enforce compliance with any Verification
Covenant, verify any statements in any Officer’s Certificate delivered to it, or otherwise make calculations, investigations or determinations with respect to Derivative Instruments, Net Shorts, Long Derivative Instruments, Short Derivative
Instruments or otherwise. The Trustee shall have no liability to the Issuer, any Holder or any other Person in acting in good faith on a Noteholder Direction. 

  
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 Section 6.03 Collection of Indebtedness and Suits for Enforcement by Trustee. 

The Issuer covenants that if: 

(a) default is made in the payment of any interest on any Note when such interest becomes due and payable and such default continues for a
period of 30 days; or 
 (b) default is made in the payment of the principal of (or premium, if any, on) any Note whether at the
maturity or upon acceleration or otherwise thereof; 
 the Issuer will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Notes,
the whole amount then due and payable on such Notes for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest,
at the rate or rates prescribed therefor in such Notes, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances
of the Trustee, its agents and counsel. 
 If an Event of Default with respect to the Notes occurs and is continuing, the Trustee may in its
discretion proceed to protect and enforce its rights and the rights of the Holders of the Notes by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific
enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 

Section 6.04 Trustee May File Proofs of Claim. 

In case of any judicial proceeding relative to the Issuer (or any other obligor upon the Notes), its property or its creditors, the Trustee
shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and all actions authorized under the TIA in order to have claims of the Holders and the Trustee allowed in any such proceeding. In particular, the Trustee
shall be authorized to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any
such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for
the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07. 

No provision of this Indenture shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder
any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding; provided, however,
that the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’ or other similar committee. 

Section 6.05 Trustee May Enforce Claims Without Possession of Notes. 

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

  
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 Section 6.06 Application of Money Collected. 

Any money collected by the Trustee pursuant to this Article 6 or, after an Event of Default, any money or other property distributable in
respect of the Issuer’s obligations under this Indenture shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money or other property on account of principal or any premium
or interest, upon presentation of the Notes and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid: 

First: to the payment of all amounts due the Trustee (including any predecessor trustee) under Section 7.07; and

 Second: to the payment of the amounts then due and unpaid for principal of and any premium and interest on the
Notes 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 Notes for principal and any premium and interest,
respectively; and 
 Third: to the Issuer or any other Person or Persons entitled thereto. 

Section 6.07 Limitation on Suits. 

No Holder of any Note shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the
appointment of a receiver or trustee, or for any other remedy hereunder, unless: 
 (1) such Holder has previously given
written notice to the Trustee of a continuing Event of Default with respect to the Notes; and 
 (2) the Holders of at least
25% in principal amount of the outstanding Notes shall have made written request to the Trustee, and offered (and if requested, provided) indemnity or security satisfactory to the Trustee, to institute proceedings in respect of such Event of Default
in its own name as Trustee hereunder and the Trustee has not received from the Holders of a majority in principal amount of the outstanding Notes a direction inconsistent with such written request and has failed to institute such proceeding within
60 days after receipt of such notice, request and offer of indemnity or security; 
 it being understood and intended that no one or more of such Holders
shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any
other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all of such Holders. 

Section 6.08 Unconditional Right of Holders to Receive Principal, Premium and Interest. 

Notwithstanding any other provision in this Indenture, the Holder of any Note shall have the right, which is absolute and unconditional, to
receive payment of the principal of and any premium and (subject to Section 4.01) interest on such Note on the respective Stated Maturities expressed in such Note (or, in the case of redemption, on the Redemption Date) and to institute suit for
the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder. 

  
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 Section 6.09 Restoration of Rights and Remedies. 

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

Section 6.10 Rights and Remedies Cumulative. 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes in the last paragraph of
Section 2.07, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in
addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or
employment of any other appropriate right or remedy. 
 Section 6.11 Delay or Omission Not Waiver. 

No delay or omission of the Trustee or of any Holder of any Note to exercise any right or remedy accruing upon any Event of Default shall
impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as often
as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 Section 6.12 Control by Holders. 

The Holders of a majority in principal amount of the outstanding Notes shall have the right to direct the time, method and place of conducting
any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Notes, provided that: 

(a) such direction shall not be in conflict with any rule of law or with this Indenture; 

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

(c) 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 would involve the Trustee in personal liability. 

Section 6.13 Waiver of Past Defaults. 

At any time after a declaration of acceleration with respect to the Notes has been made in accordance with this Indenture and before a
judgment or decree for payment of the money due has been obtained by the Trustee as provided herein, the Holders of a majority in principal amount of the outstanding Notes, by written notice to the Issuer and the Trustee, may rescind and annul such
a declaration and its consequences if all Events of Default with respect to the Notes, other than the non-payment of accelerated principal and interest, if any, with respect to the Notes, have been cured or
waived as provided herein. 

  
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 Section 6.14 Undertaking for Costs. 

In any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered
or omitted by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay the costs of such suit, and may assess costs against any such party litigant, in the manner and to the extent provided in the TIA;
provided that neither this Section nor the TIA shall be deemed to authorize any court to require such an undertaking or to make such an assessment in any suit instituted by the Issuer. 

ARTICLE 7. 
 TRUSTEE 

Section 7.01 Duties of Trustee. 

(a) If an Event of Default actually known to a Responsible Officer of the trustee has occurred, has not been waived and is continuing, the
Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s
own affairs. 
 (b) Except during the continuance of an Event of Default actually known to a Responsible Officer of the Trustee: 

(1) the duties of the Trustee will be determined solely by the express provisions of this Indenture and the Trustee need
perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

(2) in the absence of gross negligence on its part, the Trustee may conclusively rely, as to the truth of the statements and
the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, the Trustee will examine the certificates and opinions to determine whether or
not they conform to the requirements of this Indenture (but need not confirm or investigate the facts, statements, opinions or conclusions stated therein). 

(c) The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act, or its own willful
misconduct, except that: 
 (1) this paragraph does not limit the effect of paragraphs (b) or (e) of this
Section 7.01; 
 (2) the Trustee will not be liable for any error of judgment made in good faith by a Responsible
Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 
 (3) the Trustee will
not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.12 hereof. 

  
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 (d) Whether or not therein expressly so provided, every provision of this Indenture that in
any way relates to the Trustee is subject to this Section 7.01. 
 (e) No provision of this Indenture will require the Trustee to
expend or risk its own funds or incur any liability. The Trustee will be under no obligation to exercise any of its rights or powers under this Indenture at the request of any Holders, unless such Holder has offered, and if requested, provided to
the Trustee security and indemnity satisfactory to the Trustee against any loss, liability or expense. The Trustee shall not be required to give any bond or surety in respect of the performance of its powers or duties under this Indenture. 

(f) The Trustee will not be liable for interest on any money received by it except as the Trustee may agree in writing with the Issuer. Money
held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 
 Section 7.02 Rights of Trustee.

 (a) The Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, judgment, order, bond, debenture, note, other evidence of indebtedness or other paper or document (whether in its original, facsimile or other electronic form) believed by
it to be genuine and to have been signed or presented by the proper Person or Persons. The Trustee need not investigate any fact or matter stated in the resolution, certificate, statement, instrument, opinion, report, notice, request, direction,
consent, judgment, order, bond, debenture, note, other evidence of indebtedness or other paper or document. 
 (b) Before the Trustee acts
or refrains from acting, it may require an Officer’s Certificate or an Opinion of Counsel or both. The Trustee will not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion
of Counsel. The Trustee may consult with counsel and the advice of such counsel or any Opinion of Counsel will be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder in
good faith and in reliance thereon. 
 (c) The Trustee may act through its attorneys and agents and will not be responsible for the
misconduct or negligence of any agent appointed with due care. 
 (d) The Trustee will not be liable for any action it takes, suffers or
omits to take in good faith that it believes to be authorized or within the rights or powers conferred upon it by this Indenture. 
 (e)
Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Issuer will be sufficient if signed by an Officer of the Issuer. 

(f) The Trustee will be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction
of any of the Holders unless such Holders have offered (and if requested, provided) the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses and liabilities that might be incurred by it in compliance with such
request or direction. 
 (g) In order to comply with applicable tax laws, rules and regulations (inclusive of directives, guidelines and
interpretations promulgated by competent authorities) in effect from time to time (“Applicable Law”) that a foreign financial institution, issuer, trustee, paying agent, Holder or other institution is or has agreed to be subject to
or that is related to this Indenture, the Issuer agrees (i) to use commercially reasonable efforts to provide to the Trustee sufficient information about Holders or other 

  
 48 

 
applicable parties and/ or transactions (including any modification to the terms of such transactions) so the Trustee can determine whether it has tax related obligations under Applicable Law and
(ii) that the Trustee shall be entitled to make any withholding or deduction from payments under this Indenture to the extent necessary to comply with Applicable Law. The terms of this clause (g) shall survive the termination of this
Indenture. 
 (h) The Trustee shall not be deemed to have notice or be charged with knowledge of any Default or Event of Default unless
written notice of such Default or Event of Default from the Issuer or any Holder is received by a Responsible Officer of the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Notes and this Indenture. 

(i) 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 each Agent, Custodian and other Person employed to act hereunder. 

(j) The Trustee may request that the Issuer delivers a certificate setting forth the names of individuals and/or titles of Officers authorized
at such time to take specified actions pursuant to this Indenture, which certificate may be signed by any Person authorized to sign an Officer’s Certificate, including any Person specified as so authorized in any such certificate previously
delivered and not superseded. 
 (k) Anything in this Indenture notwithstanding, in no event shall the Trustee be liable for special,
indirect, punitive, incidental or consequential or other similar loss or damage of any kind whatsoever (including but not limited to loss of profit), even if the Trustee has been advised as to the likelihood of such loss or damage and regardless of
the form of action. 
 (l) The Trustee shall not be responsible or liable for any failure or delay in the performance of its obligations
under this Indenture arising out of or caused, directly or indirectly, by circumstances beyond its control, including, without limitation, any provision of any law or regulation or any act of any governmental authority; acts of God; epidemics;
pandemics; earthquakes; fire; flood; terrorism; wars and other military disturbances; sabotage; epidemics; riots; interruptions; loss or malfunctions of utilities, computer (hardware or software) or communication services or the unavailability of
the Federal Reserve Bank wire or telex or other wire or communication facility; accidents; labor disputes; acts of civil or military authority and governmental action. 

(m) The permissive rights of the Trustee enumerated herein shall not be construed as duties. 

Section 7.03 Individual Rights of Trustee. 

The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuer or any
Affiliate of the Issuer with the same rights it would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting interest as defined in TIA §310(b), it must eliminate such conflict within 90 days, apply to the
SEC for permission to continue as trustee (if this Indenture has been qualified under the TIA) or resign. Any Agent may do the same with like rights and duties. The Trustee is also subject to Sections 7.10 and 7.11 hereof. 

  
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 Section 7.04 Trustee’s Disclaimer. 

The Trustee will not be responsible for and makes no representation as to the validity, sufficiency or adequacy of this Indenture or the
Notes, it shall not be accountable for the Issuer’s use of the proceeds from the Notes or any money paid to the Issuer or upon the Issuer’s direction under any provision of this Indenture, it will not be responsible for the use or
application of any money received by any Paying Agent other than the Trustee, and it will not be responsible for any statement or recital herein or any statement in the Notes or any other document in connection with the sale of the Notes or pursuant
to this Indenture other than its certificate of authentication. The Trustee shall have no duty to monitor or investigate the Issuer’s compliance with or the breach of, or cause to be performed or observed, any representation, warranty, or
covenant, or agreement of any Person, other than the Trustee, made in this Indenture. 
 Section 7.05 Notice of Defaults. 

If a Default or Event of Default occurs and is continuing and if it is actually known to a Responsible Officer of the Trustee, the Trustee
will deliver to Holders of Notes a notice of the Default or Event of Default within 90 days after it occurs. Except in the case of a Default or Event of Default in payment of principal of, premium on, if any, interest or Additional Interest, if any,
on, any Note, the Trustee may withhold the notice if and so long as a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of the Holders of the Notes (it being understood that the Trustee
does not have an affirmative duty to determine whether any action is not in the interest of any Holder) or that would involve the Trustee in personal liability. 

Section 7.06 Reports by Trustee to Holders of the Notes. 

(a) Within 60 days after each April 1 beginning with the April 1 following the date of this Indenture, and for so long as Notes
remain outstanding, the Trustee will mail to the Holders of the Notes a brief report dated as of such reporting date that complies with TIA §313(a) (but if no event described in TIA §313(a) has occurred within the twelve months preceding
the reporting date, no report need be transmitted). The Trustee also will comply with TIA §313(b)(2) to the extent applicable. The Trustee will also transmit by mail all reports as required by TIA §313(c). 

(b) A copy of each report at the time of its mailing to the Holders of Notes will be sent by the Trustee to the Issuer and filed by the
Trustee with the SEC and each stock exchange on which the Notes are listed in accordance with TIA §313(d). The Issuer will promptly notify the Trustee when the Notes are listed on any stock exchange. 

Section 7.07 Compensation and Indemnity. 

(a) The Issuer will pay to the Trustee such compensation, as the Issuer and the Trustee from time to time agree in writing for its acceptance
of this Indenture and services hereunder. The Trustee’s compensation will not be limited by any law on compensation of a trustee of an express trust. The Issuer will reimburse the Trustee promptly upon request for all reasonable disbursements,
advances and expenses incurred or made by it in addition to the compensation for its services (including the reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel), except any such expense, disbursement or
advance as may be attributable to its gross negligence, bad faith or willful misconduct. 
 (b) The Issuer will indemnify the Trustee or any
predecessor Trustee and their officers, agents, directors and employees for, and to hold them harmless against any and all losses, liabilities, damages, claims or expenses, including reasonable fees and expenses of counsel incurred by it arising out
of or in connection with this Indenture, the Notes, the acceptance or administration of the trusts or trusts under this Indenture, including the costs and expenses of enforcing this Indenture against the Issuer (including this Section 7.07) and
defending itself against any claim (whether asserted by the Issuer, any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or 

  
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duties hereunder, or in connection with enforcing the provisions of this Section, except to the extent any such loss, liability, damage, claim or expense may be attributable to its gross
negligence, bad faith or willful misconduct. The Trustee will notify the Issuer promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Issuer will not relieve the Issuer of its obligations hereunder. The
Issuer will defend the claim and the Trustee will cooperate in the defense. The Trustee may have separate counsel and the Issuer will pay the reasonable fees and expenses of such counsel. The Issuer shall not be required to pay for any settlement
made without its consent, which consent will not be unreasonably withheld. 
 (c) The obligations of the Issuer under this Section 7.07
will survive the satisfaction and discharge of this Indenture and the Notes, the termination for any reason of this Indenture, and the resignation or removal of the Trustee. 

(d) To secure the Issuer’s obligations in this Section 7.07, the Trustee will have a lien prior to the Notes on all money and
property held or collected by the Trustee, except that held in trust to pay principal of, premium on, if any, interest or Additional Interest, if any, on, particular Notes. Such lien will survive the satisfaction and discharge of this Indenture.

 (e) The Trustee will comply with the provisions of TIA §313(b)(2) to the extent applicable. 

(f) “Trustee” for purposes of this Section shall include any predecessor Trustee; provided, however, that the gross
negligence, willful misconduct or bad faith of any Trustee hereunder shall not affect the rights of any other Trustee hereunder. 
 (g)
Without prejudice to any other rights available to the Trustee under applicable law, when the Trustee and its agents and any authenticating agent incur expenses or render services after an Event of Default specified in Section 6.01(d) or
6.01(e) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any bankruptcy, insolvency or similar laws. 

Section 7.08 Replacement of Trustee. 

(a) A resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor
Trustee’s acceptance of appointment as provided in this Section 7.08. 
 (b) The Trustee may resign in writing at any time and be
discharged from the trust hereby created by so notifying the Issuer. The Holders of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuer in writing not less than 30
days prior to the effective date of such removal. The Issuer may remove the Trustee if: 
 (1) the Trustee fails to comply
with Section 7.10 hereof; 
 (2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered
with respect to the Trustee under any Bankruptcy Law; 
 (3) a custodian or public officer takes charge of the Trustee or its
property; or 
 (4) the Trustee becomes incapable of acting. 

  
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 (c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for
any reason, the Issuer will promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the then outstanding Notes may appoint a successor Trustee to
replace the successor Trustee appointed by the Issuer. 
 (d) If a successor Trustee does not take office within 60 days after the retiring
Trustee resigns or is removed, the retiring Trustee, the Issuer, or the Holders of at least 10% in aggregate principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee.

 (e) If the Trustee, after written request by any Holder who has been a Holder for at least six months, fails to comply with
Section 7.10 hereof, such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

(f) A successor Trustee will deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Thereupon, the
resignation or removal of the retiring Trustee will become effective, and the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee will deliver a notice of its succession to
Holders. The retiring Trustee will promptly transfer all property held by it as Trustee to the successor Trustee; provided that all sums owing to the Trustee hereunder have been paid and subject to the lien provided for in Section 7.07
hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuer’s obligations under Section 7.07 hereof will continue for the benefit of the retiring Trustee. 

Section 7.09 Successor Trustee by Merger, etc. 

If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business to, another
Person, the successor Person without any further act will be the successor Trustee. 
 Section 7.10 Eligibility; Disqualification. 

There will at all times be a Trustee hereunder that is a Person organized and doing business under the laws of the United States of America or
of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or examination by federal or state authorities and that has a combined capital and surplus of at least $100.0 million as
set forth in its most recent published annual report of condition. 
 This Indenture will always have a Trustee who satisfies the
requirements of TIA §310(a)(1), (2) and (5). The Trustee is subject to TIA §310(b). 
 Section 7.11 Preferential Collection of Claims
Against Issuer. 
 The Trustee is subject to TIA §311(a), excluding any creditor relationship listed in TIA §311(b). A Trustee
who has resigned or been removed shall be subject to TIA §311(a) to the extent indicated therein. 

  
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 ARTICLE 8. 

LEGAL DEFEASANCE AND COVENANT DEFEASANCE 

Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance. 

The Issuer may at any time, at the option of the Board of Directors of the Issuer evidenced by a resolution set forth in an Officer’s
Certificate, elect to have either Section 8.02 or 8.03 hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article 8. 

Section 8.02 Legal Defeasance and Discharge. 

Upon the Issuer’s exercise under Section 8.01 hereof of the option applicable to this Section 8.02, the Issuer will, subject to
the satisfaction of the conditions set forth in Section 8.04 hereof, be deemed to have been discharged from its obligations with respect to all outstanding Notes on the date the conditions set forth below are satisfied (hereinafter,
“Legal Defeasance”). For this purpose, Legal Defeasance means that the Issuer will be deemed to have paid and discharged the entire indebtedness represented by the outstanding Notes, which will thereafter be deemed to be
“outstanding” only for the purposes of Section 8.05 hereof and the other Sections of this Indenture referred to in clauses (1) and (2) below, and to have satisfied all its other obligations under such Notes and this Indenture
(and the Trustee, on demand of and at the expense of the Issuer, shall execute such instruments requested by the Issuer acknowledging the same), except for the following provisions which will survive until otherwise terminated or discharged
hereunder: 
 (1) the rights of Holders of outstanding Notes to receive payments in respect of the principal of, premium on,
if any, or interest, if any, on such Notes when such payments are due from the trust referred to in Section 8.04 hereof; 

(2) the provisions of Sections 2.03, 2.06 and 2.07; 

(3) the rights, powers, trusts, duties and immunities of the Trustee hereunder and the Issuer’s obligations in connection
therewith; and 
 (4) this Article 8. 

Subject to compliance with this Article 8, the Issuer may exercise its option under this Section 8.02 notwithstanding the prior exercise
of its option under Section 8.03 hereof. 
 Section 8.03 Covenant Defeasance. 

Upon the Issuer’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03, the Issuer will, subject to
the satisfaction of the conditions set forth in Section 8.04 hereof, be released from its obligations under the covenants contained in Sections 4.03, 4.04, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12 and 5.01 hereof with respect to the outstanding
Notes on and after the date the conditions set forth in Section 8.04 hereof are satisfied (hereinafter, “Covenant Defeasance”), and the Notes will thereafter be deemed not “outstanding” for the purposes of any
direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but will continue to be deemed “outstanding” for all other purposes hereunder (it being understood that
such Notes will not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes, the Issuer may omit to comply with and will have no liability in respect of any term,
condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other
document and such omission to comply will not constitute a Default or an Event of Default under Section 6.01 hereof, but, except as specified above, the remainder of this Indenture and such Notes will be unaffected thereby. In addition, upon
the Issuer’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, Section 6.01(c) hereof will not constitute Events
of Default. 

  
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 Section 8.04 Conditions to Legal or Covenant Defeasance. 

The following shall be the conditions to the application of Section 8.02 or 8.03 to the Notes: 

(1) The Issuer shall irrevocably have deposited or caused to be deposit with the Trustee (or another trustee which satisfies
the requirements contemplated by Section 7.10 and agrees to comply with the provisions of this Article applicable to it) as trust funds in trust for the purpose of making the following payments, specifically pledged as security for, and
dedicated solely to, the benefit of Holders of Notes (A) (i) money in an amount, (ii) U.S. Government Obligations that through the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide,
not later than one day before the due date of any payment, money in an amount, or (iii) a combination thereof, in each case sufficient in the opinion of a nationally recognized firm of independent public accountants to pay and discharge, and
which shall be applied by the Trustee (or any such other qualifying trustee) to pay and discharge each installment of principal, premium and interest on and any mandatory sinking fund payments in respect of the Notes on the respective Stated
Maturities in accordance with the terms of this Indenture and the Notes (as used herein, “U.S. Government Obligation” means (x) any security that is (i) a direct obligation of the United States of America for the payment
of which the full faith and credit of the United States of America is pledged or (ii) an obligation 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, which, in either case (i) or (ii), is not callable or redeemable at the option of the issuer thereof, and (y) any depositary receipt issued
by a bank (as defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any U.S. Government Obligation which is specified in clause (x) above and held by such bank for the account of the holder of such depositary
receipt, or with respect to any specific payment of principal of or interest on any U.S. Government Obligation which is so specified and held, provided that (except as required by law) such custodian is not authorized to make any deduction from the
amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the U.S. Government Obligation or the specific payment of principal or interest evidenced by such depositary receipt), or (B) in the
case of Notes denominated in a currency other than the U.S. dollar, (i) money in such currency in an amount, or (ii) Foreign Government Obligations that through the scheduled payment of principal and interest in respect thereof in
accordance with their terms will provide, not later than one day before the due date of any payment, money in such currency in an amount, or (iii) a combination thereof, in each case sufficient in the opinion of a nationally recognized firm of
independent public accountants to pay and discharge, and which shall be applied by the Trustee (or any such other qualifying trustee) to pay and discharge, the principal of and any premium and interest on the Notes on the respective Stated
Maturities in accordance with the terms of this Indenture and the Notes. As used herein, Foreign Government Obligation means (x) any security that is (i) a direct obligation of the government that issued such currency for the payment of
which full faith and credit of such government is pledged or (ii) an obligation of a Person controlled or supervised by and acting as an agency or instrumentality for such government the payment of which is unconditionally guaranteed as a full
faith and credit obligation by such government, which, in either case (i) or (ii), is not callable or redeemable at the option of the issuer thereof, and (y) any depositary receipt issued by a bank (as defined in Section 3(a)(2) of
the Securities Act) as custodian with respect to any Foreign Government Obligation which is specified in clause (x) and held by such bank for the account of the holder of such depositary receipt, or with respect to any specific payment of

  
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principal of or interest on any such Foreign Government Obligation which is so specified and held, provided that (except as required by law) such custodian is not authorized to make any deduction
from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the Foreign Government Obligation or the specific payment of principal or interest evidenced by such depositary receipt. 

(2) In the event of an election to have Section 8.02 apply to the Notes, the Issuer shall have delivered to the Trustee an
Opinion of Counsel stating that (A) the Issuer has received from, or there has been published by, the U.S. Internal Revenue Service a ruling or (B) since the date of this Indenture, there has been a change in the applicable U.S. federal
income tax law, in either case (A) or (B) to the effect that, and based thereon such opinion shall confirm that, the Holders and beneficial owners of such Notes will not recognize income, gain or loss for U.S. federal income tax purposes as a
result of the deposit, Legal Defeasance and discharge to be effected with respect to such Notes and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would be the case if such deposit, Legal
Defeasance and discharge had not occurred. 
 (3) In the event of an election to have Section 8.03 apply to the Notes,
the Issuer shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders and beneficial owners of such Notes will not recognize income, gain or loss for U.S. federal income tax purposes as a result of the deposit and
Covenant Defeasance to be effected with respect to such Notes and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would be the case if such deposit and Covenant Defeasance were not to
occur. 
 (4) No event which is, or after notice or lapse of time or both would become, an Event of Default with respect to
such Notes shall have occurred and be continuing at the time of such deposit. 
 (5) Such Legal Defeasance or Covenant
Defeasance shall not result in a breach or violation of, or constitute a default under, any other agreement or instrument to which the Issuer is a party or by which it is bound. 

(6) If the Notes are to be redeemed prior to their Stated Maturities (other than from mandatory sinking fund payments or
analogous payments), notice of such redemption shall have been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee shall have been made. 

(7) The Issuer shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that
all conditions precedent with respect to such Legal Defeasance or Covenant Defeasance have been complied with. 
 Section 8.05 Deposited Money and
Government Securities to be Held in Trust; Other Miscellaneous Provisions. 
 Subject to Section 8.06 hereof, all money and non-callable Government Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.05, the “Trustee”)
pursuant to Section 8.04 hereof in respect of the outstanding Notes will be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying
Agent (including the Issuer if acting as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in respect of principal, premium, if any, and interest, if any, but such money need not be
segregated from other funds except to the extent required by law. 

  
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 The Issuer will pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the cash or non-callable Government Securities deposited pursuant to Section 8.04 hereof or the principal and interest received in respect thereof other than any such tax, fee or
other charge which by law is for the account of the Holders of the outstanding Notes. 
 Notwithstanding anything in this Article 8 to the
contrary, the Trustee will deliver or pay to the Issuer from time to time upon the written request of the Issuer any money or non-callable Government Securities held by it as provided in Section 8.04
hereof which in the opinion of a nationally recognized firm of independent public accountants are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance. 

Section 8.06 Repayment to the Issuer. 

Subject to applicable abandoned property law, any money deposited with the Trustee or any Paying Agent, or then held by the Issuer, in trust
for the payment of the principal of, premium on, if any, or interest, if any, on any Note and remaining unclaimed for two years after such principal, premium, if any, or interest, if any, has become due and payable shall be paid to the Issuer on its
request or (if then held by the Issuer) will be discharged from such trust; and the Holder of such Note will thereafter be permitted to look only to the Issuer for payment thereof, and all liability of the Trustee or such Paying Agent with respect
to such trust money, and all liability of the Issuer as trustee thereof, will thereupon cease. 
 Section 8.07 Reinstatement. 

If the Trustee or Paying Agent is unable to apply any U.S. dollars or non-callable Government
Securities in accordance with Section 8.02 or 8.03 hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Issuer’s
obligations under this Indenture and the Notes will be revived and reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03 hereof until such time as the Trustee or Paying Agent is permitted to apply all such money in
accordance with Section 8.02 or 8.03 hereof, as the case may be; provided, however, that, if the Issuer makes any payment of principal of, premium on, if any, or interest, if any, on, any Note following the reinstatement of its
obligations, the Issuer will be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the Trustee or Paying Agent. 

ARTICLE 9. 
 AMENDMENT,
SUPPLEMENT AND WAIVER 
 Section 9.01 Without Consent of Holders of Notes. 

Without the consent of any Holders, the Issuer, when authorized by a resolution of the Issuer’s Board of Directors, and the Trustee, at
any time and from time to time, may enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 
  

  
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 (1) cure any ambiguity, to correct any mistake, to correct or supplement any
provision in this Indenture that may be defective or inconsistent with any other provision in this Indenture, or to make other provisions in regard to matters or questions arising under this Indenture; 

(2) evidence that another Person has become a successor of the Issuer and that the successor assumes the Issuer’s
covenants, agreements, and obligations in this Indenture and in the Notes in accordance with this Indenture; 
 (3) surrender
any of the Issuer’s rights or powers under this Indenture or add to the Issuer’s covenants further covenants for the protection of the Holders of the Notes; 

(4) add any additional Events of Default for the benefit of the Holders of the Notes; 

(5) to conform any provision in this Indenture to the “Description of New Notes” in the Issuer’s Offering
Memorandum, dated March 31, 2022, relating to the Notes (the “Offering Memorandum”), to the extent that such provision in that “Description of New Notes” was intended to be a verbatim recitation of a provision of this
Indenture and the Notes, which intent may be evidenced by an Officer’s Certificate to that effect; 
 (6) to secure the
Notes; 
 (7) provide for uncertificated Notes in addition to or in place of certificated Notes (provided, that the
uncertificated Notes are issued in registered form for purposes of Section 163(f) of the Code); 
 (8) make any change
that does not adversely affect the rights of any Holder of Notes; 
 (9) to evidence and provide for the acceptance of
appointment by a successor or separate trustee with respect to the Notes and to add to or change any of the provisions of this Indenture as necessary to provide for the administration of this Indenture by more than one trustee, pursuant to the
requirements of Section 7.08 hereof; or 
 (10) comply with the requirements of the SEC in order to effect or maintain
the qualification of this Indenture under the TIA. 
 Section 9.02 With Consent of Holders of Notes. 

With the consent of the Holders of not less than a majority in principal amount of the outstanding Notes affected by such supplemental
indenture, by act of said Holders delivered to the Issuer and the Trustee, the Issuer, when authorized by a resolution of the Issuer’s Board of Directors, and the Trustee may enter into an indenture or indentures supplemental hereto for the
purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture, or of modifying in any manner the rights of the Holders of Notes under this Indenture; provided, however, that no
such supplemental indenture shall, without the consent of the Holder of each outstanding Notes affected thereby: 
 (1)
reduce the principal amount of Notes whose Holders must consent to an amendment or waiver; 
 (2) reduce the rate of or
extend the time for payment of interest (including Default interest) on any Note; 
 (3) reduce the principal of or premium
on or change the fixed maturity of any Note; 

  
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 (4) waive a Default in the payment of the principal of, or premium and
interest on, any Note (except a rescission of acceleration of Notes by the Holders of at least a majority in aggregate principal amount of the Notes and a waiver of the payment default that resulted from such acceleration); 

(5) make the principal of, or premium and interest on, any Note payable in a currency other than U.S. dollars; 

(6) amend the contractual right to institute suit for the enforcement of any payment of the principal of, and premium and
interest (including Additional Amounts) on, the Notes on or after the due dates expressed or provided for in such Notes; 

(7) make any change to the provisions relating to waivers or amendments; 

(8) waive a redemption payment with respect to any Note; provided that such redemption is made at the option of the
Issuer; or 
 (9) make any change in the provisions of this Indenture described under Section 2.13 that adversely
affects the right of any Holder of such Notes or amends the terms of such Notes in a way that would result in a loss of an exemption from any of the Taxes described thereunder or an exemption from any obligation to withhold or deduct Taxes so
described thereunder unless the non-U.S. Payor agrees to pay Additional Amounts, if any, in respect thereof. 

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

It shall not be necessary for any act of Holders under this Section to approve the particular form of any proposed supplemental indenture, but
it shall be sufficient if such act of Holders shall approve the substance thereof. 
 Section 9.03 Compliance with Trust Indenture Act. 

Every amendment or supplement to this Indenture or the Notes will be set forth in an amended or supplemental indenture that complies with the
TIA as then in effect. 
 Section 9.04 Revocation and Effect of Consents. 

Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Note is a continuing consent by the Holder of a
Note and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a
Note may revoke the consent as to its Note if the Trustee receives written notice of revocation before the date the amendment, supplement or waiver becomes effective. An amendment, supplement or waiver becomes effective in accordance with its terms
and thereafter binds every Holder. 
 Section 9.05 Notation on or Exchange of Notes. 

The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Issuer in
exchange for all Notes may issue and the Trustee shall, upon receipt of an Authentication Order, authenticate new Notes that reflect the amendment, supplement or waiver. 

  
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 Failure to make the appropriate notation or issue a new Note will not affect the validity
and effect of such amendment, supplement or waiver. 
 Section 9.06 Trustee to Sign Amendments, etc. 

The Trustee will sign any amended or supplemental indenture authorized pursuant to this Article 9 if the amendment or supplement does not
adversely affect the rights, duties, liabilities or immunities of the Trustee. The Issuer may not sign an amended or supplemental indenture until the Board of Directors of the Issuer approves it. In executing any amended or supplemental indenture,
the Trustee will be entitled to receive and (subject to Section 7.01 hereof) will be fully protected in relying upon, in addition to the documents required by Section 12.04 hereof, an Officer’s Certificate and an Opinion of Counsel
stating that the execution of such amended or supplemental indenture is authorized or permitted by this Indenture. 
 ARTICLE 10. 

SATISFACTION AND DISCHARGE 
 Section 10.01
Satisfaction and Discharge. 
 This Indenture will be discharged and cease to be of any further effect (except as to the
surviving rights of the Trustee and the Issuer’s obligations in connection therewith and of registration or exchange of Notes, as expressly provided for in this Indenture) as to all outstanding Notes if: 

(1) either 

(a) the Issuer has delivered to the Trustee for cancellation all Notes; or 

(b) all Notes not previously delivered to the Trustee for cancellation have become due and payable, will become due and payable
within one year, or are to be called for redemption within one year under arrangements satisfactory to the Trustee, and in any such case the Issuer has deposited with the Trustee as trust funds the entire amount sufficient to pay at maturity or upon
redemption all of the principal, premium and interest due with respect to those Notes; 
 (2) the Issuer has paid or caused
to be paid all other sums payable hereunder by the Issuer; and 
 (3) the Issuer has delivered to the Trustee an
Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Issuer to the Trustee under Section 7.07, the
obligations of the Issuer to any authenticating agent under Section 2.02 and, if money shall have been deposited with the Trustee pursuant to subclause (b) of clause (1) of this Section, the obligations of the Trustee under
Section 10.02 and the last paragraph of Section 2.04 shall survive. 

  
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 Section 10.02 Application of Trust Money. 

Subject to the provisions of Section 8.06 hereof, all money deposited with the Trustee pursuant to Section 10.01 hereof shall be
held in trust and applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Issuer if acting as its own Paying Agent) as the Trustee may determine, to
the Persons entitled thereto, of the principal, premium, if any, and interest, if any, for whose payment such money has been deposited with the Trustee; but such money need not be segregated from other funds except to the extent required by law.

 If the Trustee or Paying Agent is unable to apply any money or Government Securities in accordance with Section 10.01 hereof by
reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Issuer’s obligations under this Indenture and the Notes shall be
revived and reinstated as though no deposit had occurred pursuant to Section 10.01 hereof; provided that if the Issuer has made any payment of principal of, premium on, if any, or interest, if any, on, any Notes because of the
reinstatement of their obligations, the Issuer shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or Government Securities held by the Trustee or Paying Agent. 

ARTICLE 11. 
 [RESERVED.]

 ARTICLE 12. 

MISCELLANEOUS 
 Section 12.01 Trust
Indenture Act Controls. 
 If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by TIA
§318(c), the imposed duties will control. 
 Section 12.02 Notices. 

Any notice or communication by the Issuer or the Trustee to the others is duly given if in writing and delivered in Person or by first class
mail (registered or certified, return receipt requested), facsimile transmission or overnight air courier guaranteeing next day delivery, to the others’ address: 

If to the Issuer: 
 c/o Broadcom Inc. 

1320 Ridder Park Drive 
 San Jose, CA 95131 

Attention: Kirsten Spears, Chief Financial Officer 
 With a copy
to: 
 c/o Broadcom Inc. 
 1320 Ridder Park Drive 

San Jose, CA 95131 
 Attention: Mark Brazeal, Chief Legal Officer

 Fax: 408-433-6336 

  
 60 

 and an additional copy to: 

Latham & Watkins LLP 
 140 Scott Drive 

Menlo Park, CA 94025 
 Fax: (650)
463-2600 
 Attention: Tony Richmond and Greg Rodgers 

If to the Trustee: 
 Wilmington Trust, National Association 

50 South Sixth Street, Suite 1290 
 Minneapolis, MN 55402 

Attention: Broadcom Inc. Administrator 
 The
Issuer or the Trustee, by notice to the other, may designate additional or different addresses for subsequent notices or communications. 

All notices and communications to the Issuer or the Trustee will be deemed to have been duly given upon actual receipt by the Trustee at its
Corporate Trust Office or by the Issuer at the address of its office specified above, or at any other address previously furnished in writing to the Trustee by the Issuer. 

Any notice or communication to a Holder will be mailed by first class mail, certified or registered, return receipt requested, or by overnight
air courier guaranteeing next day delivery to its address shown on the register kept by the Registrar. Any notice or communication will also be so mailed to any Person described in TIA §313(c), to the extent required by the TIA. Failure to mail
a notice or communication to a Holder or any defect in it will not affect its sufficiency with respect to other Holders. 
 If a notice or
communication is mailed in the manner provided above within the time prescribed, it is duly given, whether or not the addressee receives it. 

If the Issuer delivers a notice or communication to Holders, it will deliver a copy to the Trustee and each Agent at the same time. 

Notwithstanding any other provision of this Indenture or any Note, where this Indenture or any Note provides for notice of any event
(including any notice of repurchase) to a Holder (whether by mail or otherwise), such notice shall be sufficiently given (in the case of a Global Note) if 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. 
 The
Trustee shall have the right, but shall not be required, to rely upon and comply with notices, instructions, directions or other communications sent by e-mail, facsimile and other similar unsecured electronic
methods by Persons reasonably believed by the Trustee to be authorized to give instructions and directions on behalf of the Issuer. The Trustee shall have no duty or obligation to verify or confirm that the Person who sent such instructions or
directions is, in fact, a Person authorized to give instructions or directions on behalf of the Issuer; provided that, if a certificate pursuant to Section 7.02(j) has been provided to the Trustee, such Person is identified on such
certificate; and the Trustee shall have no liability for any losses, liabilities, costs or expenses incurred or sustained by the Issuer as a result of such reasonable reliance upon or compliance with such notices, instructions, directions or other
communications. The Issuer agrees to assume all risks arising out of the use of such electronic methods to submit notices, instructions, directions or other communications to the Trustee, including without limitation the risk of the Trustee acting
on unauthorized instructions, and the risk of interception and misuse by third parties. The Issuer shall use all reasonable endeavors to ensure that any such notices, instructions, directions or other communications transmitted to the Trustee
pursuant to this Indenture are complete and correct. Any such notices, instructions, directions or other communications shall be conclusively deemed to be valid instructions from the Issuer to the Trustee for the purposes of this Indenture. 

  
 61 

 Section 12.03 Communication by Holders of Notes with Other Holders of Notes. 

Holders may communicate pursuant to TIA §312(b) with other Holders with respect to their rights under this Indenture or the Notes. The
Issuer, the Trustee, the Registrar and anyone else shall have the protection of TIA §312(c). 
 Section 12.04 Certificate and Opinion as
to Conditions Precedent. 
 Upon any request or application by the Issuer to the Trustee to take any action under this Indenture (except
in connection with the original issuance of the Notes on the date hereof), the Issuer shall furnish to the Trustee: 
 (1) an
Officer’s Certificate (which must include the statements set forth in Section 12.05 hereof) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided for in this Indenture relating to the
proposed action have been complied with; and 
 (2) an Opinion of Counsel (which must include the statements set forth in
Section 12.05 hereof) stating that, in the opinion of such counsel, all such conditions precedent and covenants have been complied with. 

Section 12.05 Statements Required in Certificate or Opinion. 

Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate
provided pursuant to TIA §314(a)(4)) must comply with the provisions of TIA §314(e) and must include: 
 (1) a
statement that the Person making such certificate or opinion has read such covenant or condition; 
 (2) a brief statement as
to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 

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

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

Section 12.06 Rules by Trustee and Agents. 

The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules and
set reasonable requirements for its functions. 

  
 62 

 Section 12.07 No Personal Liability of Directors, Officers, Employees and Stockholders. 

No director, officer, employee, incorporator or stockholder of the Issuer, as such, will have any liability for any obligations of the Issuer
under the Notes, this Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the
consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal securities laws. 
 Section 12.08
Governing Law. 
 THE INDENTURE AND THE NOTES WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 EACH OF THE ISSUER AND THE TRUSTEE BY ITS ACCEPTANCE THEREOF, HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED THEREBY. 

Section 12.09 Consent to Jurisdiction. 

Any legal suit, action or proceeding arising out of or based upon this Indenture or the transactions contemplated hereby (“Related
Proceedings”) may be instituted in the federal courts of the United States of America located in the City and County of New York or the courts of the State of New York in each case located in the City and County of New York (collectively,
the “Specified Courts”), and each party irrevocably submits to the exclusive jurisdiction (except for suits, actions, or proceedings instituted in regard to the enforcement of a judgment of any Specified Court in a Related
Proceeding, a “Related Judgment”, as to which such jurisdiction is non-exclusive) of the Specified Courts in any Related Proceeding. Service of any process, summons, notice or document by mail
to such party’s address set forth above shall be effective service of process for any Related Proceeding brought in any Specified Court. The parties irrevocably and unconditionally waive any objection to the laying of venue of any Related
Proceeding in the Specified Courts and irrevocably and unconditionally waive and agree not to plead or claim in any Specified Court that any Related Proceeding brought in any Specified Court has been brought in an inconvenient forum. Each party not
located in the United States irrevocably appoints CSC Corporation as its agent to receive service of process or other legal summons for purposes of any Related Proceeding that may be instituted in any Specified Court. 

Section 12.10 Waiver of Immunity. 

With respect to any Related Proceeding, each party irrevocably waives, to the fullest extent permitted by applicable law, all immunity
(whether on the basis of sovereignty or otherwise) from jurisdiction, service of process, attachment (both before and after judgment) and execution to which it might otherwise be entitled in the Specified Courts, and with respect to any Related
Judgment, each party waives any such immunity in the Specified Courts or any other court of competent jurisdiction, and will not raise or claim or cause to be pleaded any such immunity at or in respect of any such Related Proceeding or Related
Judgment, including, without limitation, any immunity pursuant to the United States Foreign Sovereign Immunities Act of 1976, as amended. 

Section 12.11 Judgment Currency. 

If for the purposes of obtaining judgment in any court it is necessary to convert a sum due hereunder into any currency other than U.S.
dollars, the parties hereto agree, to the fullest extent that they may effectively do so, that the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Holders could purchase U.S. dollars with such other
currency in The City of New York on the Business Day preceding that on which final judgment is given. The obligations of the Issuer 

  
 63 

 
in respect of any sum due from it to any Holder shall, notwithstanding any judgment in any currency other than U.S. dollars, not be discharged until the first Business Day, following receipt by
such Holder of any sum adjudged to be so due in such other currency, on which (and only to the extent that) such Holder may in accordance with normal banking procedures purchase U.S. dollars with such other currency; if the U.S. dollars so purchased
are less than the sum originally due to such Holder hereunder, the Issuer agrees, as a separate obligation and notwithstanding any such judgment, to indemnify such Holder against such loss. If the U.S. dollars so purchased are greater than the sum
originally due to such Holder hereunder, such Holder agrees to pay to the Issuer an amount equal to the excess of the U.S. dollars so purchased over the sum originally due to such Holder hereunder. 

Section 12.12 No Adverse Interpretation of Other Agreements. 

This Indenture may not be used to interpret any other indenture, loan or debt agreement of the Issuer or its Subsidiaries or of any other
Person. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 
 Section 12.13 Successors. 

All agreements of the Issuer in this Indenture and the Notes will bind its successors. All agreements of the Trustee in this Indenture will
bind its successors. 
 Section 12.14 Severability. 

In case any provision in this Indenture or in the Notes is invalid, illegal or unenforceable, the validity, legality and enforceability of the
remaining provisions will not in any way be affected or impaired thereby. 
 Section 12.15 Counterpart Originals. 

The parties may sign any number of copies of this Indenture. Each signed copy will be an original, but all of them together represent the same
agreement. The exchange of copies of this Indenture and of signature pages by facsimile, pdf or other electronic 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, pdf or other electronic methods shall be deemed to be their original signatures for all purposes. 

Section 12.16 USA PATRIOT Act. 
 The
parties hereto acknowledge that in accordance with Section 326 of the USA PATRIOT Act, the Trustee in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each
Person 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
USA PATRIOT Act. 
 Section 12.17 Legal Holidays. 

In any case where any Interest Payment Date, Redemption Date, Tax Redemption Date or Maturity Date is not a Business Day, then any action to
be taken on such date need not be taken on such date, but may be taken on the next succeeding Business Day with the same force and effect as if taken on such date, and no interest shall accrue in respect of the delay. 

  
 64 

 Section 12.18 Table of Contents, Headings, etc. 

The Table of Contents, Cross-Reference Table and Headings of the Articles and Sections of this Indenture have been inserted for convenience of
reference only, are not to be considered a part of this Indenture and will in no way modify or restrict any of the terms or provisions hereof. 

[Signatures on following page] 

  
 65 

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

			
	BROADCOM INC.
		
	By:	 	/s/ Kirsten Spears
	Name:	 	Kirsten Spears
	 Title:
	 	 Chief Financial Officer

 [Signature Page to Indenture] 

 
			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	/s/ Sarah Vilhauer
	Name:	 	Sarah Vilhauer
	Title:	 	Assistant Vice President

 [Signature Page to Indenture] 

 [Face of Note] 
  

			
		  	CUSIP/ISIN                

 4.926% Senior Notes due 2037 
  

			
	No.                	  	$                        

 BROADCOM INC. 

promises to pay to _______________ or registered assigns, the principal sum of
                                         
                           DOLLARS as the same may be revised on the Schedule of Exchanges of Interests in the
Global Note attached hereto on May 15, 2037. 
 Interest Payment Dates: May 15 and November 15 

Record Dates: May 1 and November 1 
 Dated:
                         

  
 A-1 

 
			
	BROADCOM INC.
		
	By:	 	 
	Name:	 	
	 Title:
	 	

 This is one of the Notes referred to 

in the within-mentioned Indenture: 
 WILMINGTON TRUST, NATIONAL
ASSOCIATION, 
 as Trustee 
  

			
	 By:
	 	 
		 	Authorized Signatory
		
	Date:	 	 

  
 A-1 

 [Back of Note] 

4.926% Senior Notes due 2037 
 [Insert the
Global Note Legend, if applicable pursuant to the provisions of the Indenture] 
 [Insert the Private Placement Legend, if applicable pursuant to the
provisions of the Indenture] 
 [Insert the Regulation S Global Note Legend, if applicable pursuant to the provisions of the Indenture] 

Capitalized terms used herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 

(a) INTEREST. Broadcom Inc., a Delaware corporation (the “Issuer”),
promises to pay or cause to be paid interest on the principal amount of this Note at 4.926% per annum from __________, _____ until maturity and shall pay the Additional Interest, if any, payable pursuant to the Registration Rights Agreement referred
to below. The Issuer will pay interest and Additional Interest, if any, semi-annually in arrears on May 15 and November 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each, an
“Interest Payment Date”). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance to, but excluding, such Interest Payment Date or the
Maturity Date, as applicable; provided that, if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment
Date; provided further that the first Interest Payment Date shall be __________,______. The Issuer will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the then applicable
interest rate on the Notes to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest, if any (without regard to any applicable
grace period), at the same rate to the extent lawful. 
 Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. All dollar amounts resulting from this calculation will be rounded to the nearest cent. 

(b) METHOD OF PAYMENT. The Issuer will pay interest and
Additional Interest on the Notes (except defaulted interest), if any, to the Persons who are registered Holders of Notes at the Close of Business on the May 1 or November 1 next preceding the Interest Payment Date, even if such Notes are
canceled after such record date and on or before such Interest Payment Date, except as provided in Section 2.12 of the Indenture with respect to defaulted interest. The Notes will be payable as to principal, premium, if any, interest and
Additional Interest, if any, at the office or agency of the Paying Agent and Registrar, or, at the option of the Issuer, payment of interest and Additional Interest, if any, may be made by check mailed to the Holders at their addresses set forth in
the register of Holders; provided that payment by wire transfer of immediately available funds will be required with respect to principal of, premium on, if any, interest and Additional Interest, if any, on, all Global Notes and all other
Notes the Holders of which will have provided wire transfer instructions to the Issuer or the Paying Agent. Such payment will be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public
and private debts. 
 (c) PAYING AGENT AND
REGISTRAR. Initially, Wilmington Trust, National Association, the Trustee under the Indenture, will act as Paying Agent and Registrar. The Issuer may change the Paying Agent or Registrar without prior notice to the
Holders of the Notes. The Issuer or any of its Subsidiaries may act as Paying Agent or Registrar. 

  
 A-2 

 (d) INDENTURE. The Issuer issued the
Notes under an Indenture dated as of April 18, 2022 (the “Indenture”) between the Issuer and the Trustee. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the
TIA. The Notes are subject to all such terms, and Holders are referred to the Indenture and the TIA for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the
Indenture shall govern and be controlling. The Indenture does not limit the aggregate principal amount of Notes that may be issued thereunder. 

(e) OPTIONAL REDEMPTION. The Notes are subject to optional redemption by
the Issuer as provided in Section 3.07 of the Indenture. 
 (f) MANDATORY
REDEMPTION. The Issuer is not required to make mandatory redemption or sinking fund payments with respect to the Notes. 

(g) REDEMPTION FOR TAXATION
REASONS. The Notes are subject to redemption by the Issuer in the event of a Change in Tax Law as provided in Section 3.09 of the Indenture. 

(h) OFFER TO PURCHASE UPON CHANGE
OF CONTROL TRIGGERING EVENT. Upon the occurrence of a Change of Control Triggering Event, the Issuer will be required to make an offer to purchase the Notes
as provided in Section 4.09 of the Indenture. 
 (i) DENOMINATIONS, TRANSFER,
EXCHANGE. The Notes are in registered form in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the
Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Issuer may require a Holder to pay any taxes and fees required by law or permitted by the
Indenture. The Issuer need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part. Also, the Issuer need not exchange or register the
transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the next succeeding Interest Payment Date. 

(j) PERSONS DEEMED OWNERS. The registered Holder of a Note
may be treated as the owner of it for all purposes. Only registered Holders have rights under the Indenture. 
 (k)
AMENDMENT, SUPPLEMENT AND WAIVER. The Notes are subject to the amendment, supplement and waiver provisions set forth in Article 9 of the Indenture. 

(l) DEFAULTS AND REMEDIES. The Events of Default and
remedies of the Holders pertaining to the Notes are set forth in Article 6 of the Indenture. 
 (m) TRUSTEE
DEALINGS WITH THE ISSUER. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Issuer or its
Affiliates, and may otherwise deal with the Issuer or its Affiliates, as if it were not the Trustee. 
 (n)
NO RECOURSE AGAINST OTHERS. No director, officer, employee, incorporator or stockholder of the Issuer, as such, will have any liability for any obligations of the
Issuer under the Notes, the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of
the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal securities laws. 

  
 A-3 

 (o) AUTHENTICATION. This Note will not
be valid until authenticated by the manual signature of the Trustee or an authenticating agent. 
 (p)
ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of
survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 
 (q)
ADDITIONAL RIGHTS OF HOLDERS OF RESTRICTED GLOBAL NOTES AND RESTRICTED DEFINITIVE
NOTES. In addition to the rights provided to Holders of Notes under the Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes will have all the rights set forth in the Registration Rights
Agreement dated as of April 18, 2022, among the Issuer and the other parties named on the signature pages thereof or, in the case of Additional Notes, Holders of Restricted Global Notes and Restricted Definitive Notes will have the rights set
forth in one or more registration rights agreements, if any, among the Issuer and the other parties thereto, relating to rights given by the Issuer to the purchasers of any Additional Notes (collectively, the “Registration Rights
Agreement”). 
 (r) CUSIP NUMBERS. Pursuant to a recommendation promulgated by
the Committee on Uniform Security Identification Procedures, the Issuer has caused CUSIP numbers to be printed on the Notes, and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to
the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption, and reliance may be placed only on the other identification numbers placed thereon. 

(s) GOVERNING LAW. THE INDENTURE AND THIS NOTE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK. 
 The Issuer will furnish to any Holder upon written request and without charge a copy of the Indenture and/or the
Registration Rights Agreement. Requests may be made to: 
 Broadcom Inc. 

1320 Ridder Park Drive 
 San Jose, CA 95131 

Attention: Investor Relations 

  
 A-4 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 

(I) or (we) assign and transfer this Note to: 
  

			
		  	(Insert assignee’s legal name)

  

							
	 
	(Insert assignee’s soc. sec. or tax I.D. no.)
	 
	
	 
	
	 
	
	 
	(Print or type assignee’s name, address and zip code)

 and irrevocably appoint to transfer this Note on the books of the Issuer. The agent may substitute another to act for him.

Date:                         
    
  

			
		  	Your Signature:
		  	(Sign exactly as your name appears on the face of this Note)

 Signature Guarantee*:
                                        

  

	*	 Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to
the Trustee). 

  
 A-5 

 SCHEDULE OF EXCHANGES OF
INTERESTS IN THE GLOBAL NOTE 
 The following exchanges of a part
of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another Global Note or Definitive Note for an interest in this Global Note, have been made: 

 

									
	 Date of Exchange
	  	Amount of
decrease in
Principal Amount
of this Global Note	  	Amount of increase
in Principal
Amount of this
Global Note	  	Principal Amount
of this Global Note
following such
decrease (or
increase)	  	Signature of authorized
signatory of Trustee or
Custodian

  
 A-6 

 EXHIBIT B 

FORM OF CERTIFICATE OF TRANSFER 
 Broadcom Inc.

 1320 Ridder Park Drive 
 San Jose, CA 95131 

Wilmington Trust, National Association 
 50 South Sixth Street,
Suite 1290 
 Minneapolis, MN 55402 
 Attention: Broadcom Inc.
Administrator 
 Re: Broadcom Inc. Senior Notes 

Reference is hereby made to the Indenture, dated as of April 18, 2022 (the “Indenture”), between Broadcom Inc., as
issuer (the “Issuer”) and Wilmington Trust, National Association, as trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 

___________________, (the “Transferor”) owns and proposes to transfer the Note[s] or interest in such Note[s] specified in
Annex A hereto, in the principal amount of $___________ in such Note[s] or interests (the “Transfer”), to ___________________________ (the “Transferee”), as further specified in Annex A hereto. In connection with
the Transfer, the Transferor hereby certifies that: 
 [CHECK ALL THAT APPLY] 

1. ☐ Check if Transferee will take delivery of a beneficial interest in the 144A Global Note or a Restricted Definitive Note
pursuant to Rule 144A. The Transfer is being effected pursuant to and in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, the Transferor hereby further
certifies that the beneficial interest or Definitive Note is being transferred to a Person that the Transferor reasonably believes is purchasing the beneficial interest or Definitive Note for its own account, or for one or more accounts with respect
to which such Person exercises sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A in a transaction meeting the requirements of Rule 144A, and such Transfer
is in compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will be
subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the 144A Global Note and/or the Restricted Definitive Note and in the Indenture and the Securities Act. 

2. ☐ Check if Transferee will take delivery of a beneficial interest in the Regulation S Global Note or a Restricted Definitive
Note pursuant to Regulation S. The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and, accordingly, the Transferor hereby further certifies that (i) the Transfer
is not being made to a Person in the United States and (x) at the time the buy order was originated, the Transferee was outside the United States or such Transferor and any Person acting on its behalf reasonably believed and believes that the
Transferee was outside the United States or (y) the transaction was executed in, on or through the facilities of a designated offshore securities market and neither such Transferor nor any Person acting on its behalf knows that the transaction
was prearranged with a buyer in the United States, (ii) no directed selling efforts have been made in contravention of the requirements of Rule 903(b) or Rule 904(b) of Regulation S under the Securities Act [and/,] (iii) the transaction is not
part of a plan or scheme to evade the registration requirements of the Securities Act [and (iv) if the proposed transfer is being made prior to the expiration of the Restricted Period, the transfer is not being made to a U.S. Person or for the
account or 

  
 B-1 

 
benefit of a U.S. Person (other than a Dealer Manager)]. Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial interest or
Definitive Note will be subject to the restrictions on Transfer enumerated in the Private Placement Legend printed on the Regulation S Global Note and/or the Restricted Definitive Note and in the Indenture and the Securities Act. 

3. ☐ Check if Transferee will take delivery of a beneficial interest in an Unrestricted Global Note or of an Unrestricted
Definitive Note. 
 (a) ☐ Check if Transfer is pursuant to Rule 144. (i) The Transfer is being effected pursuant to and
in accordance with Rule 144 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States and (ii) the restrictions on transfer
contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred
beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture. 

(b) ☐ Check if Transfer is Pursuant to Regulation S. (i) The Transfer is being effected pursuant to and in accordance with
Rule 903 or Rule 904 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States and (ii) the restrictions on transfer
contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred
beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture. 

(c) ☐ Check if Transfer is Pursuant to Other Exemption. (i) The Transfer is being effected pursuant to and in compliance
with an exemption from the registration requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any State
of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in
accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will not be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes or Restricted
Definitive Notes and in the Indenture. 
 This certificate and the statements contained herein are made for your benefit and the benefit of
the Issuer. 
  

	
	
	   

	[Insert Name of Transferor] 

  

			
		
	By:	 	 
		 	Name:
		 	Title:

 Dated: _______________________ 

  
 B-2 

 ANNEX A TO CERTIFICATE OF TRANSFER 

 

	 	1.	 The Transferor owns and proposes to transfer the following: 

[CHECK ONE OF (a) OR (b)] 
  

	 	(a)	 ☐ a beneficial interest in the: 

 

	 	(i)	 ☐ 144A Global Note (CUSIP _________), or 

 

	 	(ii)	 ☐ Regulation S Global Note (CUSIP _________), or 

 

	 	(iii)	 ☐ IAI Global Note (CUSIP _________); or 

 

	 	(b)	 ☐ a Restricted Definitive Note. 

 

	 	2.	 After the Transfer the Transferee will hold: 

[CHECK ONE] 
  

	 	(a)	 ☐ a beneficial interest in the: 

 

	 	(i)	 ☐ 144A Global Note (CUSIP _________), or 

 

	 	(ii)	 ☐ Regulation S Global Note (CUSIP _________), or 

 

	 	(iii)	 ☐ IAI Global Note (CUSIP _________); or 

 

	 	(iv)	 ☐ Unrestricted Global Note (CUSIP _________); or 

 

	 	(b)	 ☐ a Restricted Definitive Note; or 

 

	 	(c)	 ☐ an Unrestricted Definitive Note, 

in accordance with the terms of the Indenture. 

  
 B-3 

 EXHIBIT C 

FORM OF CERTIFICATE OF EXCHANGE 
 Broadcom Inc.

 1320 Ridder Park Drive 
 San Jose, CA 95131 

Wilmington Trust, National Association 
 50 South Sixth Street,
Suite 1290 
 Minneapolis, MN 55402 
 Attention: Broadcom Inc.
Administrator 
 Re: Broadcom Inc. Senior Notes 

(CUSIP [                ]) 

Reference is hereby made to the Indenture, dated as of April 18, 2022 (the “Indenture”), between Broadcom Inc., as
issuer (the “Issuer”) and Wilmington Trust, National Association, as trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 

__________________________, (the “Owner”) owns and proposes to exchange the Note[s] or interest in such Note[s] specified
herein, in the principal amount of $____________ in such Note[s] or interests (the “Exchange”). In connection with the Exchange, the Owner hereby certifies that: 

1. Exchange of Restricted Definitive Notes or Beneficial Interests in a Restricted Global Note for Unrestricted Definitive Notes or
Beneficial Interests in an Unrestricted Global Note 
 (a) ☐ Check if Exchange is from beneficial interest in a Restricted
Global Note to beneficial interest in an Unrestricted Global Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a beneficial interest in an Unrestricted Global Note in an equal principal
amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Global
Notes and pursuant to and in accordance with the Securities Act of 1933, as amended (the “Securities Act”), (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to
maintain compliance with the Securities Act and (iv) the beneficial interest in an Unrestricted Global Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 

(b) ☐ Check if Exchange is from beneficial interest in a Restricted Global Note to Unrestricted Definitive Note. In connection
with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Definitive Note is being acquired for the Owner’s own account without transfer,
(ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the
Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Definitive Note is being acquired in compliance with any applicable blue sky securities laws of any state of the
United States. 
 (c) ☐ Check if Exchange is from Restricted Definitive Note to beneficial interest in an Unrestricted Global
Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own
account without transfer, (ii) such Exchange has been effected in 

  
 C-1 

 
compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in
the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest is being acquired in compliance with any applicable blue sky securities laws of any state
of the United States. 
 (d) ☐ Check if Exchange is from Restricted Definitive Note to Unrestricted Definitive Note. In
connection with the Owner’s Exchange of a Restricted Definitive Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is being acquired for the Owner’s own account without transfer,
(ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the
Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Unrestricted Definitive Note is being acquired in compliance with any applicable blue sky securities laws of any
state of the United States. 
 2. Exchange of Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes for
Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes 
 (a) ☐ Check if Exchange is from
beneficial interest in a Restricted Global Note to Restricted Definitive Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a Restricted Definitive Note with an equal principal amount,
the Owner hereby certifies that the Restricted Definitive Note is being acquired for the Owner’s own account without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the Restricted Definitive
Note issued will continue to be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Definitive Note and in the Indenture and the Securities Act. 

(b) ☐ Check if Exchange is from Restricted Definitive Note to beneficial interest in a Restricted Global Note. In connection with
the Exchange of the Owner’s Restricted Definitive Note for a beneficial interest in the [CHECK ONE] ☐ 144A Global Note, ☐ Regulation S Global Note, ☐ IAI Global Note with an equal principal amount, the Owner hereby certifies
(i) the beneficial interest is being acquired for the Owner’s own account without transfer and (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to
and in accordance with the Securities Act, and in compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the beneficial
interest issued will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the relevant Restricted Global Note and in the Indenture and the Securities Act. 

This certificate and the statements contained herein are made for your benefit and the benefit of the Issuer. 

 

					
		 	 
		 	[Insert Name of Transferor]
		
	By:	 	 
		 	Name:
	 	 	Title:

  

	
	
	Dated: _____________________

  
 C-2 

 EXHIBIT D 

FORM OF NET SHORT REPRESENTATION 
 Broadcom Inc.

 1320 Ridder Park Drive 
 San Jose, CA 95131 

Wilmington Trust, National Association 
 50 South Sixth Street,
Suite 1290 
 Minneapolis, MN 55402 
 Attention: Broadcom Inc.
Administrator 
 Broadcom Inc. and Wilmington Trust, National Association, as trustee (the “Trustee”) have heretofore executed an
indenture, dated as of April 18, 2022 (as amended, supplemented or otherwise modified, the “Indenture”), providing for the issuance of the Issuer’s 4.926% Senior Notes due 2037 (the “Notes”). All terms used herein and
not otherwise defined shall have the meaning ascribed to such term under the Indenture. 
 This letter constitutes a Position Representation
in connection with a Noteholder Direction delivered pursuant to Section 6.02 of the Indenture, whereby the undersigned, as Directing Holder, represents to each of the Issuer and the Trustee that [it is] [its beneficial owners are] not Net
Short. 
  

			
	By:	 	 
		 	Name: [Holder]
		 	Title:

  
 D-1

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