Document:

Exhibit 10.1

 

 

 

 

STOCK
PURCHASE AGREEMENT

by and among

Custom Personalization Solutions, Inc.,

as
the Company

 

LiveXLive
Merchandising, Inc.,

as
the Buyer,

 

LiveXLive
Media, Inc., a Delaware corporation,

 

as
the Parent,

 

THE
SELLERS SET FORTH ON SIGNATURE PAGES HERETO,

 

as
the Sellers,

 

AND

Scott
R. Norman

 

as
the Seller Representative

 

 

Dated
as of December 22, 2020

 

 

 

     

     

    

 

TABLE
OF CONTENTS

	 	 
	 	Page
	Article
    1 DEFINITIONS	1
	1.1 	Definitions	1
	1.2 	Interpretive Provisions	14
	 	 
	Article
    2 PURCHASE AND SALE OF THE COMPANY SHARES	15
	2.1 	Purchase and Sale of the Company Shares	15
	2.2 	Closing	16
	2.3 	Transactions to be Effected at the Closing or Post-Closing	16
	2.4 	Purchase Price Adjustment	18
	2.5 	Exchange Procedures	21
	2.6 	Withholding	21
	 	 
	Article
    3 REPRESENTATIONS AND WARRANTIES OF THE SELLERS	22
	3.1 	Organization	22
	3.2 	Binding Obligations	22
	3.3 	No Defaults or Conflicts	22
	3.4 	Company Shares	23
	3.5 	Litigation	23
	3.6 	Purchase for Own Account; Sophistication	23
	3.7 	Access to Information	24
	3.8 	Restricted Securities; Legends.	24
	3.9 	Brokers	25
	3.10 	Sellers Reliance	25
	 	 
	Article
    4 REPRESENTATIONS AND WARRANTIES OF THE COMPANY	25
	4.1 	Organization	26
	4.2	 Binding Obligations	26
	4.3 	No Defaults or Conflicts	26
	4.4 	Capitalization	27
	4.5 	Litigation	27
	4.6 	Financial Statements	28
	4.7 	No Undisclosed Liabilities	28
	4.8	 Intellectual Property	28
	4.9 	Compliance with Laws	31
	4.10	 Contracts	31
	4.11	 Taxes	32
	4.12 	Permits	34
	4.13 	Employee Benefit Plans	34
	4.14 	Employee and Labor Matters	35
	4.15 	Environmental Compliance	37
	4.16 	Insurance	37
	4.17 	Real Property	37
	4.18 	Title to Assets	38

 

    - i -

     

    

 

	4.19 	Affiliate Transactions	38
	4.20	 Absence of Certain Changes or Events	38
	4.21 	Customers and Suppliers	38
	4.22	 Accounts Receivable	39
	4.23 	Foreign Corrupt Practices Act	39
	4.24 	Bank Accounts; Powers of Attorney	40
	4.25 	Solvency	40
	4.26 	Brokers	40
	4.27 	Company’s Reliance	40
	4.28	 Electronic Data Room	40
	 	 
	Article
    5 REPRESENTATIONS AND WARRANTIES OF THE BUYER and parent	40
	5.1	 Organization	41
	5.2 	Binding Obligations	41
	5.3 	No Defaults or Conflicts	41
	5.4 	Litigation	42
	5.5 	Parent Capitalization	42
	5.6 	Parent Stock	42
	5.7	 Parent SEC Filings; Financial Statements; Information
Provided	42
	5.8 	Parent Listing; Investment Company	43
	5.9 	Brokers	43
	5.10	 Solvency	44
	5.11	 Exclusivity of Representations	44
	 	 
	Article
    6 COVENANTS	44
	6.1 	Further Assurances	44
	6.2 	Public Announcements	44
	6.3 	Tax Matters	45
	6.4	 Release	49
	6.5 	Confidentiality	50
	6.6 	Non-Competition; Non-Solicitation	50
	6.7 	Books and Records	52
	6.8	 Company D&O Tail Policy	52
	6.9	 Inventory Count..	53
	6.10	 Employment Agreement..	53
	6.11	 Release of SBA Loan Escrow Amount	53
	 	 
	Article
    7 INDEMNIFICATION	54
	7.1	 Survival	54
	7.2 	Indemnification	54
	7.3 	Limitations on Indemnification	55
	7.4 	Indemnification Claim Process for Third Party Claims	56
	7.5	 Indemnification Procedures for Non-Third Party Claims	57
	7.6 	Exclusive Remedy	58
	7.7 	Tax Treatment of Indemnity Payments	58
	7.8 	Escrow	58
	7.9 	Payments	58

    - ii -

     

    

 

	Article
    8 MISCELLANEOUS	58
	8.1 	Expenses	58
	8.2 	Amendment	59
	8.3 	Entire Agreement	59
	8.4 	Headings	59
	8.5	 Notices	59
	8.6 	Exhibits and Schedules	60
	8.7 	Waiver	60
	8.8 	Binding Effect; Assignment	60
	8.9	 No Third Party Beneficiary	60
	8.10	 Counterparts	61
	8.11 	Governing Law and Jurisdiction	61
	8.12 	Consent to Jurisdiction and Service of Process	61
	8.13	 WAIVER OF JURY TRIAL	61
	8.14 	Specific Performance	61
	8.15 	Severability	61
	8.16 	Attorneys’ Fees	62
	8.17 	Seller Representative.	62

 

Exhibits

 

Exhibit
ADistribution Schedule

 

Exhibit
BInvestor Questionnaire

 

    - iii -

     

    

 

STOCK
PURCHASE AGREEMENT

 

THIS
STOCK PURCHASE AGREEMENT (this “Agreement”), dated as of December 22, 2020 and effective as of December 7,
2020 (the “Effective Date”), by and among Custom Personalization Solutions, Inc., a Delaware corporation (including
its predecessors, the “Company”), LiveXLive Media, Inc. a Delaware corporation (“Parent”),
LiveXLive Merchandising, Inc., a Delaware corporation and a wholly owned subsidiary of Parent (the “Buyer”),
the Persons identified as “Sellers” on the signature pages hereto (each, a “Seller” and, collectively,
the “Sellers”), and Scott R. Norman, as the representative of the Sellers (the “Seller Representative”).

 

RECITALS

 

WHEREAS,
the Sellers are the record owners of 100% of the issued and outstanding Equity Interests of the Company (the “Company
Shares”);

 

WHEREAS,
the Sellers wish to sell to the Buyer, and the Buyer wishes to purchase from the Sellers, all of the Company Shares upon the terms
and subject to the conditions set forth in this Agreement.

 

NOW
THEREFORE, in consideration of the foregoing and the respective representations, warranties, covenants and agreements contained
herein, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties
to this Agreement agree as follows:

 

Article
1

 

DEFINITIONS

 

1.1
Definitions. The following terms, whenever used herein, shall have the following meanings for all purposes of this Agreement.

 

“Accounting
Firm” means a nationally recognized independent public accounting firm as agreed by the Buyer and the Seller Representative
in writing.

 

“Additional
Consideration” means $1,500,000.00 worth of Parent Stock.

 

“Adjustment
Deficit Amount” has the meaning set forth in Section 2.4(g)(ii).

 

“Adjustment
Surplus Amount” has the meaning set forth in Section 2.4(f)(i).

 

“Affiliate”
means as to any Person, any Person which directly or indirectly controls, is controlled by, or is under common control with such
Person. For purposes of this definition, “control” of a Person shall mean the power, direct or indirect, to direct
or cause the direction of the management and policies of such Person whether by ownership of voting securities, by Contract or
otherwise.

 

“Agreement”
has the meaning set forth in the introductory paragraph of this Agreement.

 

     

     

    

 

“Balance
Sheet Date” has the meaning set forth in Section 4.6(a).

 

“Base
Amount” means an amount equal to $4,500,000.00.

 

“Basket
Amount” has the meaning set forth in Section 7.3(a)(i).

 

“Books
and Records” has the meaning set forth in Section 6.7(a).

 

“Business
Day” means any day that is not a Saturday, Sunday or other day on which banking institutions in Los Angeles, California
or New York, New York are authorized or required by Law or executive order to close.

 

“Buyer”
has the meaning set forth in the introductory paragraph of this Agreement.

 

“Buyer
Disclosure Schedules” has the meaning set forth in the introductory paragraph of Article 5.

 

“Buyer
Indemnified Party” has the meaning set forth in Section 7.2(a).

 

“Calculation
Time” has the meaning set forth in Section 2.2.

 

“Claims”
has the meaning set forth in Section 7.4(a).

 

“Closing”
has the meaning set forth in Section 2.2.

 

“Closing
Cash” means the cash and cash equivalents of the Company, determined in accordance with GAAP, as of the Calculation
Time.

 

“Closing
Date” has the meaning set forth in Section 2.2.

 

“Closing
Indebtedness” means the Indebtedness of the Company, determined in accordance with GAAP, as of the Calculation Time.

 

“Closing
Inventory” means the inventory of the Company, determined in accordance with GAAP, as of the Calculation Time, as verified
by Parent’s auditor.

 

“Closing
Inventory Excess” means the amount, on a dollar for dollar basis, by which the Final Closing Inventory exceeds, if any,
the Estimated Closing Inventory.

 

“Closing
Inventory Shortfall” means the amount, on a dollar for dollar basis, by which the Estimated Closing Inventory exceeds,
if any, the Final Closing Inventory.

 

“Closing
Transaction Expenses” means the Transaction Expenses, determined in accordance with GAAP, as of the Calculation Time.

 

“Closing
Working Capital” means the Working Capital, determined in accordance with GAAP, as of the Calculation Time.

 

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

 

    - 2 -

     

    

 

“Company”
has the meaning set forth in the introductory paragraph of this Agreement.

 

“Company
Employees” has the meaning set forth in Section 4.14(a).

 

“Company
LOC Loan” means that certain Business Loan Agreement, dated as of August 31, 2015, by and between BMO Harris Bank National
Association (“BMO Harris”) and the Company’s predecessor, Custom Personalization Solutions, LLC (“CPS
LLC”), as amended, restated, supplement or modified from time to time, collectively with the documents executed in connection
with the Company LOC Loan.

 

“Company
Options” means the options convertible into shares common stock of the Company, reserved for issuance to employees,
officers and directors of, and consultants to, the Company.

 

“Company
Plans” has the meaning set forth in Section 4.13(a).

 

“Company
SBA Loan” means that certain Note, dated as of April 17, 2020, by and between BMO Harris and CPS LLC.

 

“Company
Share Certificate” means a stock certificate which as of immediately prior to the Closing represented outstanding Company
Shares.

 

“Company
Shares” has the meaning set forth in the Recitals.

 

“Confidential
Information” has the meaning set forth in Section 6.5.

 

“Contract”
means any legally binding agreement, contract, lease, license, instrument, commitment or arrangement, whether written or oral.

 

“Current
Assets” means the current assets of the Company determined in accordance with GAAP; provided, that notwithstanding
anything to the contrary contained herein, Current Assets shall not include, (a) assets related to Taxes (including deferred Tax
assets), or (b) any intercompany receivables between the Company and the Sellers and/or their respective affiliates.

 

“Current
Liabilities” means the current liabilities of the Company determined in accordance with GAAP; provided, that
notwithstanding anything to the contrary contained herein, Current Liabilities shall not include (a) Indebtedness, (b) Transaction
Expenses, (c) Liabilities related to Income Taxes (including deferred Tax Liabilities), or (d) any intercompany payables between
the Company and the Sellers and/or their respective affiliates.

 

“Direct
Claim Notice” has the meaning set forth in Section 7.5.

 

“Distribution
Schedule” means the schedule attached hereto as Exhibit A setting forth, for each Seller (a) such Person’s
name and address; (b) the number of Company Shares held by such Person as of immediately prior to the Closing Date; (c) such Person’s
Pro Rata Percentage; (d) the portion of the Estimated Aggregate Consideration attributable to such Person (expressed in whole
shares of Parent Stock); and (e) the percentage interest of the Escrow Amount attributable to such Person and such amount expressed
in whole shares of Parent Stock.

 

    - 3 -

     

    

 

“Due
Date” means the due date with respect to an applicable Tax Return (taking into account valid extensions).

 

“EBITDA”
means earnings before interest, taxes, depreciation and amortization.

 

“Electronic
Data Room” means the electronic data room established by the Sellers in connection with the transactions contemplated
hereby maintained by Sellers with Dropbox access and address as provided electronically by the Company to Buyer prior to the Closing
Date.

 

“Encumbrance”
means any lien (statutory or other), encumbrance, charge, mortgage, pledge, security interest, title defect, claim, community
property interest, condition, equitable interest, option, easement, encroachment, right of way, right of first refusal, or restriction
of any kind, including any restriction on use, voting, transfer, receipt of income or exercise of any other attribute of ownership,
in each case other than licenses of Intellectual Property.

 

“Environmental
Claims” means any Proceedings by any Person alleging Liability of whatever kind or nature (including Liability or responsibility
for the costs of enforcement Proceedings, investigations, cleanup, governmental response, removal or remediation, natural resources
damages, property damages, personal injuries, medical monitoring, penalties, contribution, indemnification and injunctive relief)
arising out of, based on or resulting from: (a) the presence, use, storage, labeling, processing, disposal or actual or threatened
release of, or exposure to, any hazardous substance; or (b) circumstances forming the basis of any violation or alleged violation
of any Environmental Law or term or condition of any Environmental Permit.

 

“Environmental
Laws” means any applicable federal, state, county, provincial, or municipal Law of the United States relating to: (a)
pollution (or the cleanup thereof) or the protection of natural resources, endangered or threatened species, human health or safety,
or the environment (including ambient air, soil, surface water or groundwater, or subsurface strata); or (b) concerning the
presence of, exposure to, or the management, manufacture, use, containment, storage, recycling, reclamation, reuse, treatment,
generation, discharge, transportation, processing, production, disposal or remediation of any hazardous substance.

 

“Environmental
Notice” means any written directive, notice of violation or infraction, or notice respecting any Environmental Claim
relating to actual or alleged non-compliance with or Liability under any Environmental Law or any term or condition of any Environmental
Permit.

 

“Environmental
Permit” means any Permit, license, grants, consents, authorizations, registrations, waivers, permits and rights or other
approval to operate from a Governmental Authority required under or issued, granted, given, authorized by or made pursuant to
Environmental Law.

 

“Equitable
Exceptions” has the meaning set forth in Section 3.2.

 

“Equity
Interests” means: (a) any shares, interests, participations or other equivalents (however designated) of capital stock
of a corporation, (b) any ownership interests in a Person other than a corporation, including membership interests, partnership
interests, joint venture interests and beneficial interests; and (c) any warrants, options, convertible or exchangeable securities,
calls or other rights to purchase or acquire any of the foregoing.

 

    - 4 -

     

    

 

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

 

“Escrow
Account” means the account into which the Escrow Amount is deposited with the Escrow Agent and held by it, subject to
disbursement as provided in this Agreement and in the Escrow Agreement.

 

“Escrow
Agent” means an Escrow Agent to be mutually agreed upon by the Buyer and the Seller Representative.

 

“Escrow
Agreement” means that certain escrow agreement by and among the Seller Representative, the Buyer and the Escrow Agent
governing the administration of the Escrow Amounts, containing customary provisions for a document of such type in similar transactions
to those contemplated herein, in a form to be mutually agreed upon by the parties thereto.

 

“Escrow
Amount” means $600,000.00 worth of shares of Parent Stock.

 

“Estimated
Aggregate Consideration” means a number of shares of Parent Stock calculated as follows: (a) the sum of (i) the Base
Amount, minus (ii) the Estimated Closing Indebtedness in excess of $0, plus or minus (iii) the Working Capital
Excess or the Working Capital Shortfall, as applicable (as determined according to the Estimated Working Capital delivered in
the Pre-Closing Statement).

 

“Estimated
Closing Indebtedness” means the Sellers’ good faith estimate of the Closing Indebtedness, as set forth on the
Pre-Closing Statement.

 

“Estimated
Closing Inventory” means the Sellers’ good faith estimate of the Closing Inventory, as set forth on the Pre-Closing
Statement.

 

“Estimated
Working Capital” means the Sellers’ good faith estimate of the Closing Working Capital, as set forth on the Pre-Closing
Statement.

 

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

 

“Excluded
Liabilities” means any Losses arising out of, relating to, or in connection with (a) any and all Indebtedness and Transaction
Expenses, in each case, to the extent not actually paid at or prior to the Closing Date or within five (5) Business Days thereof, (b)
any failure of any Seller to have good, valid and marketable title to the Company Shares issued in the name of such Seller, free
and clear of all Encumbrances, (c) any claim by a shareholder or former shareholder of the Company, or any other Person, seeking
to assert, or based upon: (i) the ownership or rights to ownership of any Company Shares; (ii) any rights of a shareholder (other
than the right of a Seller to receive consideration pursuant to Article 2 or rights to indemnification pursuant to this
Agreement), including any option, preemptive rights or rights to notice or to vote; or (iii) any rights under the Organizational
Documents of the Company, (d) any material inaccuracy or alleged inaccuracy in the Distribution Schedule, and (e) all items set
forth on Section 5.5 of the Seller Disclosure Schedules.

 

“Existing
Employment Agreements” has the meaning set forth in Section 4.14(b).

 

    - 5 -

     

    

 

“Export
Control Laws” has the meaning set forth in Section 4.23(b).

 

“FCPA”
has the meaning set forth in Section 4.23(a).

 

“Final
Aggregate Consideration” means $6,000,000.00 payable in Parent Stock.

 

“Final
Closing Indebtedness” means the Closing Indebtedness, as finally agreed or determined in accordance with Section
2.4(d).

 

“Final
Closing Inventory” means the Closing Inventory, as finally agreed or determined in accordance with Section 2.4(d).

 

“Final
Sales Tax Liability” means the Sales Tax Liability, as finally agreed or determined in accordance with Section 2.4(d).

 

“Final
Transaction Expenses” means the Transaction Expenses, as finally agreed or determined in accordance with Section
2.4(d).

 

“Final
Working Capital” means the Closing Working Capital as finally agreed or determined in accordance with Section 2.4(d).

 

“Financial
Statements” has the meaning set forth in Section 4.6(a).

 

“Fundamental
Representations” means the representations and warranties set forth in Section 3.1 (Organization), Section
3.2 (Binding Obligations), Section 3.3(a) (No Defaults or Conflicts), Section 3.4 (Company Shares), Section
3.9 (Brokers), Section 4.1 (Organization), Section 4.2 (Binding Obligations) Section 4.3(a) (No Defaults
or Conflicts), Section 4.4 (Capitalization), Section 4.8 (Intellectual Property), Section 4.11 (Taxes), Section
4.26 (Brokers), Section 5.1 (Organization), and Section 5.2 (Binding Obligations), Section 5.3(a) (No
Defaults or Conflicts), Section 5.9 (Brokers) and Section 5.10 (Solvency).

 

“GAAP”
means United States generally accepted accounting principles and practices in effect from time to time.

 

“GDPR”
means the General Data Protection Regulation (EU) 2016/679 and any other directly applicable European Union regulation relating
to privacy and data security.

 

“Governmental
Authority” means any government or governmental, quasi-governmental, administrative or regulatory body, whether Federal,
State, local or foreign, any agency, authority, commission, political subdivision, department or instrumentality thereof and any
court, tribunal or judicial, legislative or arbitral body thereof.

 

“Income
Tax Return” means any Tax Return related to Income Taxes and Taxes in the nature of an income tax or franchise taxes
in lieu of an income tax.

 

“Income
Taxes” means all Taxes that are in whole or in part based upon, measured by, or calculated with respect to net income
or profits (including any capital gains, franchise, or minimum Tax but not including any sales, use, real or personal property,
transfer or similar Taxes).

 

    - 6 -

     

    

 

“Indebtedness”
of any Person means, without duplication, any of the following: (a) all obligations of such Person for borrowed money or which
have been incurred in connection with the acquisition of property or assets; (b) all Liabilities secured by any Encumbrance upon
property or assets owned by such Person; (c) all Liabilities created or arising under any conditional sale or other title retention
agreement with respect to property acquired by such Person; (d) all capitalized lease obligations; (e) all Liabilities with respect
to interest rate or currency swaps, collars, caps and similar hedging obligations; (f) all letters of credit, guaranties, surety
or indemnity obligations by such Person; (g) all Liabilities of such Person in regard to guaranties or sureties by others of such
Person’s Liabilities, regardless of whether by payment or performance, or whether such guaranties are in the form of letters
of credit, deposits, bonds, insurance or other forms of security, indemnity, surety or guaranty; (h) all Liabilities for underfunded
employee pension benefit plans and similar obligations; (i) all Liabilities classified as noncurrent liabilities in accordance
with GAAP; (j) all Liabilities for accrued and unpaid Income Taxes of the Company for any taxable period (or portion thereof)
ending on or before the Closing Date, determined in accordance with GAAP; (k) all deferred payments, deferred revenues and other
obligations of such Person to secure all or part of the purchase price of property, securities, goods or services (including seller
notes, earn-out payments, contingent bonuses or similar obligations); (l) all Liabilities for accrued but unpaid interest and
unpaid prepayment penalties or premiums, expenses or other amounts that are payable in connection with retirement or prepayment
in respect of any of the foregoing; (m) any off balance sheet Liabilities; (n) the net cost of unwinding or terminating any interest
rate, currency or other hedging agreements; (o) all amounts due under any future derivative, swap, collar, put, call, forward
purchase or sale transaction, fixed price contract or other agreement that is intended to benefit from, relate to or reduce or
eliminate the risk of fluctuations in interest rates, currencies basis risk or the price of commodities; and (p) Company SBA Loan.
For purposes of calculating Working Capital, Working Capital Target, Estimated Working Capital, Final Working Capital, Closing
Working Capital, Working Capital Excess, Working Capital Shortfall, Indebtedness shall not include the Company’s accounts
payable unless they’re classified as noncurrent liabilities in accordance with GAAP.

 

“Indemnified
Party” has the meaning set forth in Section 7.2(b).

 

“Indemnifying
Party” means any party hereto from which any Indemnified Party is seeking indemnification pursuant to the provisions
of this Agreement.

 

“Information
Privacy and Security Laws” means all applicable Laws relating to privacy, data privacy, data protection, data security
and all regulations promulgated by any Governmental Authority thereunder, including, GDPR, the Health Insurance Portability and
Accountability Act, the Gramm-Leach-Bliley Act, the Federal Information Security Management Act, the Fair Credit Reporting Act,
the Fair and Accurate Credit Transaction Act, the Federal Trade Commission Act, the Privacy Act of 1974, the CAN-SPAM Act, the
Telephone Consumer Protection Act, the Telemarketing and Consumer Fraud and Abuse Prevention Act, Children’s Online Privacy
Protection Act, state data security Laws, state social security number protection Laws, state data breach notification Laws, and
Laws concerning requirements for website and mobile application privacy policies and practices, call or electronic monitoring
or recording or any outbound communications (including outbound calling and text messaging, telemarketing, and e-mail marketing)
and all equivalent Laws of any other jurisdiction.

 

    - 7 -

     

    

 

“Insurance
Policies” has the meaning set forth in Section 4.16.

 

“Intellectual
Property” means any and all of the following in any jurisdiction throughout the world: (a) trademarks, service marks,
trade dress, trade names, logos, company name and corporate names (and all goodwill associated therewith and all registrations
and applications therefor); (b) copyrights and works of authorship, whether or not copyrightable; (c) trade secrets, confidential
information, and know-how; (d) patents, patent applications, and patentable inventions; (e) domain names and social media account
names or identifiers; (f) rights in Software; and (g) all other intellectual and related proprietary rights, whether protected,
created, or arising by operation of law.

 

“Interim
Financial Statements” has the meaning set forth in Section 4.6(a).

 

“Investor
Questionnaire” means the Accredited and Sophisticated Investor Questionnaire in the form attached hereto as
Exhibit B, which contains standard accredited investor, sophisticated investor and other customary representations relating
to Section 4(a)(2)/Regulation D of the Securities Act, and including a Form W-9 from each Seller.

 

“IP
Inbound Licenses” has the meaning set forth in Section 4.8(a)(iii).

 

“IP
Licenses” has the meaning set forth in Section 4.8(a)(iii).

 

“IP
Outbound Licenses” has the meaning set forth in Section 4.8(a)(ii).

 

“IRS”
means the United States Internal Revenue Service.

 

“IT
Systems” means the information and communications technologies material to and used by the Company, including hardware,
Software and networks.

 

“Knowledge
of the Company” or any similar phrase means the actual knowledge of each of Scott R. Norman, John Semmelhack, Kenneth
A. Krupa and Caitlin Owens and the knowledge such persons would have after reasonable due inquiry.

 

“Law”
means any statute, law, ordinance, regulation, rule, code, order, constitution, treaty, judgment, decree, other requirement or
rule of law of any Governmental Authority.

 

“Liability”
means any liability (whether known or unknown, whether absolute or contingent, whether liquidated or unliquidated, and whether
due or to become due), obligation or Indebtedness, including any liability for Taxes.

 

“Leased
Real Property” has the meaning set forth in Section 4.17(b).

 

“Leases”
has the meaning set forth in Section 4.17(b).

 

“Liabilities”
means liabilities, obligations or commitments of any nature whatsoever, asserted or unasserted, known or unknown, absolute or
contingent, accrued or unaccrued, matured or unmatured or otherwise.

 

    - 8 -

     

    

 

“Lock-Up
Agreement” means the Lock-Up Agreement, by and among the Buyer and/or Parent and each Seller, in a form to be mutually
agreed upon by the Buyer and the Seller Representative, which shall contain substantially similar terms as those set forth in
that certain Letter of Intent, by and between the Company, the Parent and the other parties thereto, dated as of October 22, 2020.

 

“Lookback
Date” means January 1, 2018.

 

“Losses”
has the meaning set forth in Section 7.2(a).

 

“Material
Adverse Effect” means any Occurrence that has, or could reasonably be expected to have, individually or in the aggregate,
a material adverse effect on (a) the business, results of operations, condition (financial or otherwise), prospects or assets
of the Company, or (b) the ability of the Company or the Sellers to consummate the transactions contemplated hereby; provided,
however, that Material Adverse Effect shall not include any Occurrence resulting from, relating to or arising out of: (i)
general economic conditions, including changes in (X) financial or credit market conditions or (Y) interest rates or currency
exchange rates; (ii) conditions generally affecting any of the industries in which the Company operates; (iii) any hurricane,
tornado, flood, earthquake, tsunami, mudslides, wild fires, acts of God or other natural or man-made disasters or comparable events,
or any escalation of the foregoing; (iv) any epidemic, pandemic or other similar outbreak (including the COVID-19 virus) or other
force majeure event or material worsening of such matters existing as of the date hereof; (v) global, national or regional political
or social actions or conditions, including the engagement by any country in hostilities (or the escalation thereof), whether commenced
before or after the date hereof, and whether or not pursuant to the declaration of a national emergency or war, or the occurrence
of any military or terrorist attack; (vi) changes in applicable Law or accounting rules (including GAAP) or the enforcement, implementation
or interpretation thereof; (vii) any failure of the Company to meet any internal or published financial or non-financial projections,
forecasts, revenue, earning predictions or estimates (it being understood that the underlying facts and circumstances giving rise
to such failure that are not otherwise excluded from the definition of Material Adverse Effect may be taken into account in determining
whether there has been or could reasonably be expected to have a Material Adverse Effect); (viii) the announcement, pendency or
execution of this Agreement or the transactions contemplated hereby, including by reason of the identity of the Buyer or any communication
by the Buyer regarding the plans or intentions of the Buyer with respect to the conduct of the business of the Company; or (ix)
compliance by the Sellers and the Company with the express terms of this Agreement; provided, further, that in the
cases of clauses (i), (ii), (iii), (iv), (v) and (vi) above, such Occurrence shall be taken into account to the extent they have
a disproportionate impact on the business, results of operations, financial condition or assets of the Company compared to other
companies operating in the industries in which the Company operates. References in this Agreement to dollar amount thresholds
shall not be deemed to be evidence of a Material Adverse Effect or materiality.

 

“Material
Contracts” has the meaning set forth in Section 4.10.

 

“Material
Customers” has the meaning set forth in Section 4.21.

 

“Material
Permits” has the meaning set forth in Section 4.11.

 

    - 9 -

     

    

 

“Material
Suppliers” has the meaning set forth in Section 4.21.

 

“Multiemployer
Plan” has the meaning set forth in Section 4.13(a).

 

“NH/JLS
Additional Consideration” means $1,300,000.00 worth of Parent Stock.

 

“Notice
of Disagreement” has the meaning set forth in Section 2.4(d).

 

“Occurrences”
means any event, development, situation, occurrence, circumstance or fact.

 

“Organizational
Documents” means, to the extent applicable, (a) the articles or certificate of incorporation, bylaws, and any stockholders’
agreement of a corporation; (b) the partnership agreement and any statement of partnership of a general partnership; (c) the limited
partnership agreement and the certificate of limited partnership of a limited partnership; (d) the certificate or articles of
organization or formation and the operating agreement of a limited liability company; (e) any other charter or similar document
adopted or filed in connection with the creation, formation, or organization of a Person; (f) the trust agreement or any similar
governing document for any trust; and (g) any amendment to any of the foregoing, in each case including all amendments thereto.

 

“Owned
Intellectual Property” has the meaning set forth in Section 4.8(a)(i).

 

“Parent”
means LiveXLive Media, Inc. a Delaware corporation and parent company of the Buyer.

 

“Parent
SEC Reports” has the meaning set forth in Section 5.7(a).

 

“Parent
Stock” means the shares of restricted common stock, $0.001 par value per share, of Parent.

 

“Parent
Stock Purchase Price” means the price of $2.60 per share.

 

“Permits”
means any consents, authorizations, registrations, waivers, licenses, permits, franchises, approvals, certificates, registrations,
orders or rights.

 

“Permitted
Encumbrances” means, (a) Encumbrances for Taxes, assessments and other government charges (i) not yet due and payable
or (ii) the amount or validity of which is being contested in good faith by appropriate proceedings and for which adequate reserves
have been established in the Interim Financial Statements prepared in accordance with GAAP, (b) mechanics’, workmen’s,
repairmen’s, warehousemen’s, carriers’ or other like Encumbrances arising or incurred in the ordinary course
of business consistent with past practice or amounts that are not delinquent and which are not, individually or in the aggregate,
material to the business of the Company, (c) Encumbrances relating to purchase money security interests entered into in the ordinary
course of business consistent with past practice which are not, individually or in the aggregate, material to the business of
the Company, (d) easements, rights of way, zoning ordinances and other similar Encumbrances affecting real property which are
not, individually or in the aggregate, material to the business of the Company, (e) nonexclusive licenses of Intellectual Property
entered into in the ordinary course of business; (f) all matters of record, reciprocal easement agreements and other encumbrances
on title with respect to real property, that do not, and would not be reasonably expected to, detract from the use or operation
of the property subject thereto as currently used or operated by the Company; and (g) existing utility, access and other easements
and rights of way of record that do not, and would not be reasonably expected to, materially detract from the use or operation
of the property subject thereto as currently used or operated by the Company.

 

    - 10 -

     

    

 

“Person”
means any individual, corporation (including any not for profit corporation), general or limited partnership, limited liability
partnership, joint venture, estate, trust, firm, company (including any limited liability company or joint stock company), association,
organization, entity or Governmental Authority.

 

“Personal
Information” means, collectively, any information or data that can be used to identify an individual and any other information
or data pertaining to any individual (including name, address, telephone number, email address, credit or payment card information,
bank account number, financial data or account information, password combinations, date of birth, government-issued identifier,
social security number and mental or physical health or medical information) that is otherwise governed, regulated or protected
by one or more Information Privacy and Security Laws.

 

“Post-Closing
Statement” has the meaning set forth in Section 2.4(b).

 

“Pre-Closing
Period” means any taxable period ending on or before the Closing Date.

 

“Pre-Closing
Statement” has the meaning set forth in Section 2.4(a).

 

“Pre-Closing
Taxes” means, without duplication, (a) any and all Taxes of or imposed on the Company for any and all Pre-Closing
Periods, (b) any and all Taxes of or imposed on the Company for any and all portions of Straddle Periods ending on the Closing
Date (determined in accordance with Section 6.3(a)), (c) any and all Taxes of an “affiliated group” (as defined
in Section 1504 of the Code) (or affiliated, consolidated, unitary, combined or similar group under applicable Law) of which the
Company (or any predecessor thereof) is or was a member on or prior to the Closing Date, including pursuant to Treasury Regulations
Section 1.1502-6 (or any predecessor or successor thereof of any analogous or similar state, local or foreign Law), (d) any and
all Taxes of or imposed on the Company as a result of transferee, successor or similar liability (including bulk transfer or similar
laws) or pursuant to any Law or otherwise, which Taxes relate to an event or transaction (including transactions contemplated
by this Agreement) occurring on or before the Closing Date, and (e) any and all amounts required to be paid by the Company pursuant
to any Tax Sharing Agreement that the Company was a party on or prior to the Closing Date; provided, however, that
Pre-Closing Taxes shall not include any Taxes to the extent such Taxes are taken into account in the determination of Indebtedness,
Current Liabilities or Transaction Expenses.

 

“Pro
Rata Percentage” means the portion of the Estimated Aggregate Consideration or the Final Aggregate Consideration, as
applicable, (as a percentage or fixed number) payable to each Seller, or the portion (as a percentage or fixed number) of the
Escrow Amount payable to each Seller. Each Seller’s Pro Rata Percentage will be set forth opposite such holder’s name
on the Distribution Schedule.

 

“Proceeding”
means any action, claim, complaint, petition, mediation, order, inquiry, request for information, suit, proceeding, arbitration
or investigation, whether civil or criminal, before or by any court or other Governmental Authority, arbitrator or arbitration
panel.

 

    - 11 -

     

    

 

“Related
Party” means any officer, director, shareholder or Affiliate of the Company or any Seller or any spouse or minor child
of any such Person.

 

“Release
Date” has the meaning set forth in Section 7.8.

 

“Releasing
Parties” has the meaning set forth in Section 6.4.

 

“Released
Parties” has the meaning set forth in Section 6.4.

 

“Representatives”
means, with respect to any Person, any director, officer, agent, employee, general partner, member, stockholder, equityholder,
advisor, manager, consultant, counsel, accountant or other representative of such Person.

 

“Resolution
Period” has the meaning set forth in Section 2.4(d).

 

“Restricted
Business” means any business or venture which is primarily and/or materially engaged in the music streaming and live
music events, festival and merchandising business or any other business in which the Buyer is engaged in as of the date hereof.

 

“Restricted
Period” has the meaning set forth in Section 6.6(a).

 

“Review
Period” has the meaning set forth in Section 2.4(c).

 

“RSUs”
means the restricted stock units granted to certain Persons under any Company Plan.

 

“Sales
Tax Liability” means the Company’s and CPS LLC’s aggregate sales tax liability determined in accordance
with Wayfair guidance as verified by Parent’s auditor.

 

“SEC”
means the United States Securities and Exchange Commission.

 

“Section
1542” has the meaning set forth in Section 6.4(b).

 

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

 

“Seller
Disclosure Schedules” has the meaning set forth in the introductory paragraph of Article 3.

 

“Seller
Indemnified Party” has the meaning set forth in Section 7.2(b).

 

“Seller
Representative” has the meaning set forth in the introductory paragraph of this Agreement.

 

    - 12 -

     

    

 

“Sellers”
has the meaning set forth in the introductory paragraph of this Agreement.

 

“Software”
means computer software, programs, and data in any form, including internet web sites, and all versions, updates, corrections,
enhancements, replacements, and modifications thereof, and all documentation related thereto.

 

“Straddle
Period” has the meaning set forth in Section 6.3(a).

 

“Tax”
or “Taxes” means any taxes, charges, withholdings, fees, penalties, additions, interest or other assessments
of any kind whatsoever imposed by any Taxing Authority, including, without limitation, those related to income, gross receipts,
gross income, commercial activities, commerce, business and occupation, premium, windfall profits, environmental, customs duties,
stamp, severance, profits, withholding, payroll, employment, occupation, sales, use, value added, alternative or add-on minimum,
estimated, excise, services, valuation, social security (or similar), unemployment, disability, real property, personal property,
unclaimed property, escheat, transfer or franchise.

 

“Tax
Claim Notice” has the meaning set forth in Section 6.3(g)(i).

 

“Tax
Contest” has the meaning set forth in Section 6.3(g)(i).

 

“Tax
Returns” 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.

 

“Tax
Sharing Agreement” means any Tax indemnity agreement, Tax sharing agreement, Tax allocation agreement or similar Contract
or arrangement, whether written or unwritten (including any such agreement, Contract or arrangement included in any purchase or
sale agreement, merger agreement, joint venture agreement or other document); provided, however, that a Tax Sharing
Agreement does not include commercial Contracts entered into in the ordinary course of business, the primary purpose of which
is not Taxes.

 

“Taxing
Authority” means any Governmental Authority having jurisdiction over the assessment, determination, collection, or other
imposition of any Tax.

 

“Third
Party Claim Notice” has the meaning set forth in Section 7.4(a).

 

“Transaction
Documents” means any and all agreements, documents, certificates or instruments being delivered pursuant to this Agreement,
including the Escrow Agreement, the Lock-Up Agreement and the Employment Agreement.

 

“Transaction
Expenses” means, to the extent not paid by the Company or the Sellers prior to the Closing, (a) all consolidated fees
and expenses of the Company incurred in connection with this Agreement, any Transaction Document or the transactions contemplated
hereby or thereby, (b) all investment banking (including, brokers or finders), legal and accounting fees, costs and expenses,
(c) any commission, severance, bonus or other payment of any kind payable by the Company to management, other current or former
employees or any other Person that is accelerated or payable (in whole or in part, whether by single-trigger, double-trigger or
multiple-trigger conditions) as a result of the execution of this Agreement or the consummation of the transactions contemplated
hereby, and (d) the employer portion of any payroll, social security, unemployment and similar Taxes related to amounts payable
to the Persons identified in clause (c) and (d).

 

    - 13 -

     

    

 

“Transaction
Tax Deductions” means any item of loss, deduction or credit for Income Tax purposes, resulting from or attributable
to any bonuses or other compensation paid or payable by the Company as a result of or in connection with the transactions contemplated
by this Agreement (including the employer portion of any payroll, medical, social security, unemployment or similar Tax payments
that are required in connection therewith); and (ii) any fees or expenses paid or payable by the Company in connection with or
related to the transactions contemplated hereby, including the Transaction Expenses.

 

“Transfer
Taxes” has the meaning set forth in Section 6.3(f).

 

“Treasury
Regulations” mean the Treasury regulations promulgated under the Code.

 

“Working
Capital” means, at any date, all Current Assets minus all Current Liabilities.

 

“Working
Capital Excess” means the amount, on a dollar for dollar basis, by which the Estimated Working Capital exceeds the Working
Capital Target.

 

“Working
Capital Shortfall” means the amount, on a dollar for dollar basis, by which the Working Capital Target exceeds the Estimated
Working Capital.

 

“Working
Capital Target” means $4,000,000.00 (including $800,000 of Closing Cash).

 

1.2
Interpretive Provisions. Unless the express context otherwise requires:

 

(a) 
the words “hereof,” “herein,” “hereby,” “hereto,” and “hereunder”
and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision
of this Agreement;

 

(b) 
terms defined in the singular shall have a comparable meaning when used in the plural, and vice versa;

 

(c) 
the terms “Dollars” and “$” mean United States Dollars;

 

(d) 
references herein to a specific Article, Section, Subsection, Recital, Schedule or Exhibit shall refer, respectively,
to Articles, Sections, Subsections, Recitals, Schedules or Exhibits of this Agreement;

 

(e) 
wherever the word “include,” “includes,” or “including” is used in this Agreement, it shall
be deemed to be followed by the words “without limitation”;

 

(f) 
when a reference in this Agreement is made to a “party” or “parties,” such reference shall be to a party
or parties to this Agreement unless otherwise indicated;

 

    - 14 -

     

    

 

(g) reference
to any Person includes such Person’s successors and permitted assigns references herein to any gender shall include each
other gender;

 

(h) references
herein to any Contract (including this Agreement) means such Contract as amended, supplemented or modified from time to time in
accordance with the terms thereof; provided, that, any requirement to disclose and/or make available to Buyer any Contract of
the Company shall not be considered satisfied unless each material amendment, supplement or modification to such Contract has
been so disclosed and/or made available to the Buyer;

 

(i)
references to “written” or “in writing” include in electronic form;

 

(j)
the phrases “made available,” “provided to” or similar phrases, when used in reference to anything made
available to the Buyer or its Representatives, shall be deemed to mean uploaded to and made available to the Buyer or its Representatives
in the Electronic Data Room, or otherwise delivered to, or being in the possession of, the Buyer or its Representatives in each
case, at least one (1) Business Day prior to the date hereof;

 

(k) 
with respect to the determination of any period of time, the word “from” means “from and including” and
the words “to” and “until” each means “to but excluding”;

 

(l)
references herein to any Law or any license mean such Law or license as amended, modified, codified, reenacted, supplemented or
superseded in whole or in part, and in effect from time to time;

 

(m)
references herein to any Law shall be deemed also to refer to all rules and regulations promulgated thereunder;

 

(n) 
the word “or” is not exclusive;

 

(o) the
phrase “ordinary course of business” means the ordinary course of business, operations and activities of a Person
consistent with past practice (including with respect to quantity and frequency, as applicable); and

 

(p) 
this Agreement and the Transaction Documents shall be construed without regard to any presumption or rule requiring construction
or interpretation against the party drafting an instrument or causing any instrument to be drafted.

 

Article
2

 

PURCHASE
AND SALE OF THE COMPANY SHARES

 

2.1
Purchase and Sale of the Company Shares.

 

(a) Upon
and subject to the terms and conditions set forth in this Agreement, at the Closing, the Sellers shall sell, transfer and deliver
to the Buyer, and the Buyer shall purchase from the Sellers, all right, title and interest in and to the Company Shares, free
and clear of all Encumbrances other than restrictions on future transfers arising under the Securities Act and applicable state
securities Laws.

 

    - 15 -

     

    

 

(b) The
aggregate consideration for the purchase and sale of the Company Shares contemplated by this Section 2.1 will be the number
of shares of Parent Stock equal to the (i) Estimated Aggregate Consideration, subject to adjustment pursuant to the terms hereof
(the Estimated Aggregate Consideration as finally adjusted in accordance with this Agreement, the “Final Initial Aggregate
Consideration”), plus (ii) Additional Consideration, plus (iii) NH/JLS Additional Consideration (and collectively with
the Final Initial Aggregate Consideration and the Additional Consideration, the “Final Aggregate Consideration”).
The exact number of shares of Parent Stock to be issued to Sellers constituting the Final Aggregate Consideration, the Final Initial
Aggregate Consideration, the Additional Consideration and the NH/JLS Additional Consideration shall be calculated based on the
Parent Stock Purchase Price.

 

2.2
 Closing. The Closing shall take place at the offices of Buyer, located at 9200 Sunset Boulevard, Suite #1201, West
Hollywood, CA 90069, or through electronic mail and/or national recognized overnight delivery service, commencing at 9:00 A.M.
Pacific time on the Effective Date or at such other time or place as the Parties may agree in writing (the “Closing Date”).
For all purposes hereunder, the Closing shall be deemed effective as of 12:01 a.m. (Pacific Time) on the Closing Date (the “Calculation
Time”).

 

2.3
Transactions to be Effected at the Closing or Post-Closing.

 

(a) At
or before the Closing, the Seller Representative, the Sellers and/or the Company, as applicable, shall deliver or cause to be
delivered to the Buyer:

 

(i)
a certificate of good standing with respect to the Company issued by the office of the Secretary of State of the State of Delaware,
which is dated as of a date no more than ten (10) days prior to the Closing Date;

 

(ii)
a certificate, dated as of the Closing Date, of the executive officer of the Company certifying that (A) the Company has previously
made available to Buyer a complete and correct copy of all of the Company’s Organizational Documents, as amended to date,
(B) attached thereto is a complete and correct copy of the resolutions adopted by the board of directors of the Company authorizing
the execution, delivery and performance of this Agreement and the other Transaction Documents to which the Company is a party
and the consummation of the transactions contemplated hereunder and thereunder, (C) such Organizational Documents, resolutions,
approvals and consents have not been amended or modified in any respect and remain in full force and effect as of the Closing
Date; and (D) each of the officers or other individuals executing this Agreement or the other Transaction Documents and the other
documents to be delivered hereunder and thereunder is duly authorized to execute such agreements and documents on behalf of the
Company;

 

(iii) evidence,
in form and substance reasonably satisfactory to the Buyer, of the (i) resignations or removal of all of the members of the Board
of Directors and officers of the Company, as requested by the Buyer, and (ii) election of such persons to the Board of Directors
of the Company, as designated by Buyer, such resignations or removal and elections to be effective concurrently with the Closing;

 

    - 16 -

     

    

 

(iv)
evidence reasonably satisfactory to Buyer that the consents that the Sellers and/or the Company is required to obtain or receive
as set forth in Schedule 2.3(a)(iv) have been obtained or received by the Sellers and/or the Company, as applicable;

 

(v) evidence
of all applicable releases, termination statements (including termination of the Company LOC Loan and BMO Harris’ liens
and the payoff letter duly executed by BMO Harris and the Company evidencing that Scott R. Norman has repaid in full any and all
amounts outstanding under the Company LOC Loan as of the Closing Date and that the Company LOC Loan has been terminated) or other
similar documentation, in form and substance reasonably satisfactory to the Buyer, releasing and terminating any and all Encumbrances
(other than Permitted Encumbrances), except to the extent waived by Buyer or Parent in writing prior to the Closing Date, of the
Company, in each case, in form and substance reasonably satisfactory to the Buyer;

 

(vi)
(A) a statement, in form and substance reasonably satisfactory to the Buyer, that the Company is not, and has not been in the
five (5) years prior to the Closing Date, a "United States real property holding corporation" for purposes of Sections
897 and 1445 of the Code, in a form and manner that complies with Treasury Regulations Sections 1.1445-2(c)(3) and 1.897-2(h),
and (B) the notification to the IRS described in Treasury Regulations Section 1.897-2(h)(2) regarding delivery of the statement
referred to in the preceding clause (i), in each case signed by a corporate officer of the Company;

 

(vii)
the Lock-Up Agreement, duly executed by each Seller;

 

(viii) the
Escrow Agreement, duly executed by the Seller Representative;

 

(ix)
a duly executed spousal consent from the applicable Sellers, in form and substance reasonably satisfactory to the Buyer;

 

(x) the
Company’s balance sheet as of the Closing Date, in the form reasonably acceptable to Buyer;

 

(xi)
evidence that NH Group, LLC has irrevocably deposited in escrow with, and agreed to repay if applicable, BMO Harris the full amount
of the Company SBA Loan outstanding as of the Closing Date and related duly executed escrow documents, in the form reasonably
acceptable to Buyer, as in each case as required by the CARES Act and related regulations (the “PPP Escrow”);

 

(xii)
the Investor Questionnaire, duly executed by each Seller; and

 

(xiii) a
digital copy of all contents of the Electronic Data Room that were made available to the Buyer or its Representatives, as of the
day immediately preceding the Closing Date (which shall include, for the avoidance of doubt, all contents that were located in,
or uploaded to, the Electronic Data Room and made available to the Buyer or its Representatives at any time prior to the Closing).

 

    - 17 -

     

    

 

(b) At
                                         the Closing, the Buyer shall deliver or cause to be delivered to the Company or the Sellers,
                                         as applicable:

 

(i)
to the Sellers, evidence of irrevocable Instructions Letter issued by Parent to its transfer agent to issue to the Sellers promptly
after the Closing Date in aggregate the amount of Parent Stock equal to the Base Amount, less the Escrow Amount,
divided by the Parent Stock Purchase Price, in accordance with Sellers’ respective Pro Rata Percentage;

 

(ii)
to NH Group, LLC and JLS CPS LLC, evidence of irrevocable Instructions Letter issued by Parent to its transfer agent to issue
to NH Group, LLC and JLS CPS LLC, in accordance with the Distribution Schedule, promptly after the Closing Date in aggregate the
amount of Parent Stock equal to the NH/JLS Additional Consideration divided by the Parent Stock Purchase Price;

 

(iii) to
the Escrow Agent, the Escrow Amount, in accordance with the terms of the Escrow Agreement;

 

(iv)
to the Seller Representative, the Escrow Agreement, duly executed by the Buyer; and

 

(v) to
the Seller Representative, certificates, dated as of the Closing Date, of the Secretary or executive officer of each of Buyer
and Parent certifying that (A) attached thereto is a complete and correct copy of the resolutions adopted by the board of directors
of Buyer and Parent authorizing the execution, delivery and performance of this Agreement and the other Transaction Documents
to which the Buyer and Parent is a party and the consummation of the transactions contemplated hereunder and thereunder, and (B)
such resolutions, approvals and consents have not been amended or modified in any respect and remain in full force and effect
as of the Closing Date.

 

(c) Within
thirty (30) days after the Closing, but no earlier than January 1, 2021, the Buyer shall deliver or cause to be delivered to the
Sellers evidence of irrevocable Instructions Letter issued by Parent to its transfer agent to issue to the Sellers promptly after
such date in aggregate the amount of Parent Stock, divided by the Parent Stock Purchase Price, in accordance with Sellers’
respective Pro Rata Percentage, calculated as follows: (a) the sum of, plus or minus (i) the Working Capital Excess
or the Working Capital Shortfall as of the Closing Date, as applicable (as determined according to the Estimated Working Capital
delivered in the Pre-Closing Statement), minus (ii) the Estimated Closing Indebtedness in excess of $0. To the extent such amount
results in a negative number, the parties agree that the Sellers Representative and Parent/Buyer shall instruct the Escrow Agent
to release to the Parent for cancellation (together with all applicable documents that the Parent’s transfer agent requires
to cancel such shares) such amount of Parent Stock, divided by the Parent Stock Purchase Price as would equal such negative number
(as absolute number).

 

2.4
Purchase Price Adjustment.

 

(a) The
Seller Representative has delivered to the Buyer: (i) a reasonably detailed statement (the “Pre-Closing Statement”)
setting forth the Sellers’ good faith calculation, as of the Closing Date, of (A) the Estimated Closing Indebtedness, (B)
the Estimated Closing Inventory, (C) the Estimated Working Capital, as well as the resulting Working Capital Excess (if any) or
Working Capital Shortfall (if any), as the case may be, and (D) the Estimated Aggregate Consideration, and (ii) the Distribution
Schedule.

 

    - 18 -

     

    

 

(b) Within
ninety (90) days after the Closing Date and no earlier than January 1, 2021, the Buyer shall deliver to the Seller Representative
a reasonably detailed statement (the “Post-Closing Statement”) setting forth the Buyer’s good faith calculation
of (i) the Closing Indebtedness, (ii) Closing Inventory, (iii) the Closing Working Capital and the resulting Working Capital Excess
(if any) or Working Capital Shortfall (if any), as the case may be, (iv) the Closing Inventory Excess or the Closing Inventory
Shortfall, as the case may be (as determined according to the Estimated Closing Inventory delivered in the Pre-Closing Statement),
and (v) the Final Sales Tax Liability. For the avoidance of doubt, for purposes of the calculation of the Post-Closing Statement.
Any actions taken by the Buyer at or after the Closing shall not be taken into account for the purpose of preparing the Post-Closing
Statement.

 

(c) 
After receipt of the Post-Closing Statement, the Seller Representative shall have thirty (30) days (the “Review Period”)
to review the Post-Closing Statement. During the Review Period, the Seller Representative and its accountants shall have full
access to the books and records of the Company, the personnel of, and work papers prepared by, Buyer and/or Buyer’s accountants
to the extent that they relate to the Post-Closing Statement and to such historical financial information (to the extent in Buyer’s
possession) relating to the Post-Closing Statement, as the Seller Representative may reasonably request for the purpose of reviewing
the Post-Closing Statement and to prepare a Notice of Disagreement (defined below); provided, that such access shall be
in a manner that does not interfere with the normal business operations of the Buyer or the Company or their respective businesses.

 

(d) The
Post-Closing Statement shall become final and binding upon the parties hereto following the expiration of the Review Period unless
the Seller Representative delivers written notice of its disagreement with the Post-Closing Statement (a “Notice of Disagreement”)
to the Buyer prior to such date. Any Notice of Disagreement shall specify in reasonable detail the Seller Representative’s
objections to the Post-Closing Statement, indicating each disputed item or amount and the basis for the Seller Representative’s
disagreement therewith. If a Notice of Disagreement is received by the Buyer prior to the expiration of the Review Period, then
during the thirty (30) day period (the “Resolution Period”) following the delivery of a Notice of Disagreement,
the Seller Representative and the Buyer shall negotiate in good faith to resolve in writing any differences that they may have
with respect to the matters specified in the Notice of Disagreement. If such differences are so resolved within the Resolution
Period, the revised Post-Closing Statement with such changes as may have been previously agreed in writing by the Buyer and the
Seller Representative shall be final and binding.

 

(e) 
If at the end of the Resolution Period the Seller Representative and the Buyer have not resolved in writing the matters specified
in the Notice of Disagreement, the Seller Representative and the Buyer shall submit any amounts remaining in dispute to the Accounting
Firm, who, acting as experts and not arbitrators, shall resolve such disputed amounts only and make any adjustments to the Post-Closing
Statement. The Buyer and the Sellers agree that all adjustments shall be made without regard to the materiality of the amount
at issue. The Accounting Firm shall render a written decision resolving the matters submitted to the Accounting Firm as soon as
practicable, and in any event within thirty (30) days of the receipt of such submission (or such other time as the parties hereto
shall agree in writing). The scope of the disputes to be resolved by the Accounting Firm shall be limited to fixing mathematical
errors and determining whether the items in dispute were determined in accordance with GAAP and the terms of this Agreement, and
no other matters. The Accounting Firm’s decision shall be (w) limited to the specific items under dispute by the parties
(x) based solely on written submissions by the Seller Representative and the Buyer and their respective Representatives (and it
shall not permit or authorize discovery or hear testimony) and not by independent review, (y) made strictly in accordance with
GAAP and the terms of this Agreement and (z) final and binding on all of the parties hereto absent fraud or manifest error. The
Accounting Firm may not assign a value greater than the greatest value for such item claimed by either party or smaller than the
smallest value for such item claimed by either party. The fees and expenses of the Accounting Firm incurred pursuant to this Section 2.4
shall be borne pro rata as between the Sellers according to each Seller’s Pro Rata Percentage, on the one hand, and
the Buyer, on the other hand, in proportion to the final allocation made by such Accounting Firm of the disputed items weighted
in relation to the claims made by the Sellers and the Buyer, such that the prevailing party pays the lesser proportion of such
fees, costs and expenses.

 

    - 19 -

     

    

 

(f) Within
five (5) Business Days after the parties mutual final determination of the Company’s GAAP net revenue and EBITDA for the
Company’s fiscal year ending December 31, 2020 (“FY 2020”), in each case as verified by Parent’s
auditor, the following payments shall be made, as applicable:

 

(i)
If the Company reports GAAP revenue of at least $20,000,000.00 and at least $1,000,000.00 of EBITDA for the FY 2020 and (ii) at
the Closing Date, the Company has Working Capital Target, Parent shall deliver to the Sellers in aggregate the Additional Consideration
divided by the Parent Stock Purchase Price, in accordance with their respective Pro Rata Percentage; provided, that if
(x) the Company’s final GAAP revenue or EBITDA, as verified by Parent’s auditor, is less than the targets set forth
in this Section 2.4(f), or (y) the Estimated Working Capital is less than the Working Capital Target, the Additional Consideration
shall be reduced on a dollar for dollar basis with respect to each such shortfall; provided, further, that any such reduced amount
shall not be double counted for purposes of more than one such shortfall.

 

(g) Within
five (5) Business Days after the parties mutual final determination of the Company’s Final Closing Indebtedness, the Final
Transaction Expenses and Final Working Capital, and Parent’s determination of Final Closing Inventory and Final Sales Tax
Liability, and the resulting Final Aggregate Consideration, the following payments shall be made, as applicable:

 

(i)
If the Final Aggregate Consideration ((i) minus Additional Consideration, (ii) plus or minus the Closing Inventory Excess or the
Closing Inventory Shortfall, as applicable, minus (iii) Final Sales Tax Liability) is greater than the Estimated Aggregate
Consideration calculated at Closing (such excess amount expressed as shares of Parent Stock, calculated using the dollar amount
of such excess amount, divided by the Parent Stock Purchase Price, the “Adjustment Surplus Amount”),
then the Buyer shall deliver (or caused to be delivered), a number of shares of Parent Stock equal to the Adjustment Surplus Amount
to (A) the Sellers (subject to Section 2.5), in each case, in accordance with their respective Pro Rata Percentage.

 

(ii)
If the Final Aggregate Consideration ((i) minus Additional Consideration, (ii) plus or minus the Closing Inventory Excess or the
Closing Inventory Shortfall, as applicable, minus (iii) Final Sales Tax Liability) is less than the Estimated Aggregate
Consideration calculated at Closing (such excess amount expressed as shares of Parent Stock, calculated using the positive dollar
amount of such excess amount, divided by the Parent Stock Share Price, the “Adjustment Deficit Amount”),
then the Buyer and the Seller Representative shall execute and deliver a joint written instruction to the Escrow Agent within
two (2) Business Days following the date on which the Final Aggregate Consideration is finally determined pursuant to this Section 2.4
directing the Escrow Agent to release from the Escrow Account and pay to Buyer a number of shares of Parent Stock equal to
such Adjustment Deficit Amount, and in the event that such Adjustment Deficit Amount is greater than the Escrow Amount,
then the Sellers shall pay, or cause to be paid, to Buyer, within ten (10) Business Days by wire transfer of immediately available
funds, an amount equal to the remaining portion of such Adjustment Deficit Amount to Buyer, payable by each Seller according to
such Seller’s Pro Rata Percentage.

 

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2.5
Exchange Procedures. The procedures for the purchase and sale of the Company Shares in connection with the transactions
contemplated by this Agreement are as follows:

 

(a) 
Procedures. The transfer of the Company Shares by the Sellers to the Buyer shall be deemed to occur as of the close of
business on the Closing Date. Effective upon the Closing, each Seller shall be entitled to receive in exchange therefor the applicable
portion of the Estimated Aggregate Consideration in respect of the Company Shares as reflected on the Distribution Schedule, which
the Sellers agree that the Buyer and Parent can rely on as correct and final.

 

(b) 
No Liability. To the extent permitted by applicable Law, none of the Parent, Buyer or the Company or any of their respective
Affiliates shall be liable to any Seller for any amount delivered to a public official pursuant to any applicable abandoned property,
escheat or similar Law.

 

(c) 
No Fractional Shares. All payments hereunder in the form of shares of Parent Stock shall be made only in whole shares,
and any fractional shares shall be rounded up or down, as applicable, to the nearest whole share. The calculation of shares of
Parent Stock in the Estimated Aggregate Consideration is as set forth on the Distribution Schedule.

 

(d) 
Reliance on the Distribution Schedule. The Distribution Schedule sets forth a true and correct summary of the allocation
of the amounts payable to the Sellers pursuant to this Agreement, other than any de minimis inaccuracies. The Buyer shall
be entitled to rely conclusively on the Distribution Schedule, and, as between the Sellers, on the one hand, and the Buyer or
its Affiliates, on the other hand, any shares of Parent Stock delivered by the Buyer to any Seller in accordance with the Distribution
Schedule shall be deemed for all purposes to have been delivered to the applicable Person in full satisfaction of the obligations
of the Buyer under this Article 2.

 

2.6 Withholding
(a). The Parent, Buyer, their respective Affiliates, the Company, and its Affiliates shall be entitled to deduct and withhold
from any amounts payable pursuant to this Agreement, such amounts as they are required to deduct and withhold under the Code
and the Treasury Regulations promulgated thereunder or any other provision of applicable Tax Law, it being understood that,
absent a change in Law after the date hereof requiring otherwise, no amounts shall be withheld or deducted from amounts
payable by the Buyer and its Affiliates in respect of Company Shares unless U.S. federal backup withholding applies as a
result of a Seller not providing an IRS Form W-9 or W-8 after having been given a reasonable opportunity to do so. To the
extent that amounts are so withheld by the Buyer, its Affiliates, the Company, or its Affiliates, such withheld amounts shall
be treated for all purposes of this Agreement as having been paid to the Persons in respect of which such deduction and
withholding was made.

 

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Article
3

 

REPRESENTATIONS
AND WARRANTIES OF THE SELLERS

 

Except
as otherwise set forth in the disclosure schedules of the Sellers and the Company delivered to the Buyer at the Closing and attached
hereto (collectively, the “Seller Disclosure Schedules”), each of the Sellers jointly and severally hereby
represents and warrants to the Buyer as of the Closing Date as follows:

 

3.1
Organization. Each Seller, if not a natural person, is an entity duly organized, validly existing and in good standing
under the Laws of its jurisdiction of organization.

 

3.2
Binding Obligations. Each Seller has the requisite power and authority, and, if such Seller is a natural person, capacity,
to execute and deliver this Agreement, to perform his, her or its obligations hereunder and to consummate the transactions contemplated
hereby. The execution, delivery and performance by such Seller of this Agreement, each Transaction Document to which such Seller
is a party and the consummation by such Seller of the transactions contemplated hereby and thereby have been duly and validly
authorized by all necessary action. This Agreement and each Transaction Document to which such Seller is a party have been duly
executed and delivered by such Seller and, assuming due execution and delivery by each of the other parties hereto and thereto,
constitute the legal, valid and binding obligation of such Seller, enforceable against such Seller in accordance with their respective
terms, except to the extent that the enforceability thereof may be limited by: (a) applicable bankruptcy, insolvency, fraudulent
conveyance, reorganization, moratorium or similar Laws from time to time in effect affecting generally the enforcement of creditors’
rights and remedies; and (b) general principles of equity (collectively, the “Equitable Exceptions”).

 

3.3
No Defaults or Conflicts.

 

(a) The
execution, delivery and performance by each of the Sellers of this Agreement and each Transaction Document to which each Seller
is a party and the consummation by each Seller of the transactions contemplated hereby and thereby (whether with notice, lapse
of time or both) do not and will not (i) result in any violation of the applicable Organizational Documents of such Seller
(ii) conflict with, or result in a breach of any of the terms or provisions of, or constitute a default under, any Contract
to which such Seller is a party or by which it is bound or to which its properties are subject, (iii) violate any existing applicable
Law, rule, regulation, judgment, order or decree of any Governmental Authority having jurisdiction over such Seller, and (iv)
result in the creation or imposition of any Encumbrance (other than restrictions on future transfers arising under the Securities
Act and applicable state securities Laws) on the Company Shares, except, in the case of the foregoing clauses (ii) – (iv),
to the extent that such conflict, breach, default, violation, or Encumbrance would not, individually or in the aggregate, reasonably
be expected to reasonably be expected to have a material adverse effect on such Seller’s ability to consummate the transactions
contemplated hereby.

 

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(b)
No authorization, Permit or approval or other action by, and no notice to or filing with, any Governmental Authority will be required
to be obtained or made by any of the Sellers in connection with the execution, delivery and performance by such Seller of this
Agreement or any other Transaction Document to which it is a party and the consummation by such Seller of the transactions contemplated
hereby and thereby, except where the failure to obtain such authorization, Permit, approval or filing would not, individually
or in the aggregate, reasonably be expected to have a material adverse effect on such Seller’s ability to consummate the
transactions contemplated hereby.

 

3.4
Company Shares; No Payments Owed. Each Seller is the owner of all of the Company Shares set forth opposite his name and
address on the Distribution Schedule and owns such Company Shares free and clear of all Encumbrances (other than restrictions
on future transfers arising under the Securities Act and applicable state securities Laws). Other than this Agreement, there are
no Contracts to which such Seller is a party or by which it is bound with respect to the voting, ownership, economic interests,
sale, transfer, or other disposition of the Company Shares. Immediately upon consummation of the transactions contemplated by
this Agreement, Buyer shall own all of the Company Shares, free and clear of all Encumbrances. Each Seller has the full power
and authority to transfer and deliver good and marketable title to all of Company Shares, and upon the Sellers’ transfer
to Buyer of all of the Sellers’ Company Shares, Buyer shall receive good and marketable title to all of the Company’s
Company Shares, free and clear of all Encumbrances (other than restrictions on future transfers arising under the Securities Act
and applicable state securities Laws). There are no payments, notes, Indebtedness, contributions or any other payment obligations
(whether for borrowed money or otherwise) owed by the Company to any of the Sellers as of the Closing Date or to their knowledge
that may arise in the future (including, without limitation, as a result of or in connection with any promissory notes that may
have been issued by the Company or CPS LLC prior to the date hereof to any of the Sellers or their respective affiliates (the
“Company Notes”).

 

3.5
Litigation. There is no Proceeding pending or, to the knowledge of each Seller, threatened, against such Seller before
any Governmental Authority which seeks to prevent the transactions contemplated hereby or that otherwise would reasonably be expected
to have a material adverse effect on such Seller’s ability to consummate the transactions contemplated hereby.

 

3.6
Purchase for Own Account; Sophistication.

 

(a) 
Each of the Sellers acknowledges and agrees that the shares of Parent Stock to be acquired by each Seller pursuant to this Agreement
are being acquired for investment for the Seller’s own account, not as a nominee or agent, and not with a view to the resale
or distribution of any part thereof, and that the Seller has no present intention of selling, granting any participation in, or
otherwise distributing the same. Except for the Company Stockholders Agreement, Seller acknowledges and agrees that the Seller
does not presently have any contract, undertaking, agreement or arrangement with any Person to sell, transfer or grant participations
to such Person or to any third party, with respect to any of the shares of Parent Stock to be received by it pursuant to this
Agreement. The Seller has the ability to bear the economic risk of the investment in shares of Parent Stock, including complete
loss of such investment.

 

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(b)
Each of the Sellers represents and warrants that such Seller is an “Accredited Investor”, as the term is defined in
Rule 501(a) of the Securities Act, as more completely set forth in the Investor Questionnaire, which is incorporated by reference
as if more fully set forth herein.

 

3.7
Access to Information. Each Seller acknowledges that (a) such Seller has been afforded (i) access to information about
each of the Buyer and Parent, respectively, and their respective financial conditions, results of operations, businesses, properties
and prospects sufficient to enable such Seller to evaluate its investment in the Parent Stock; and (ii) the opportunity to obtain
such additional information that the other party possesses or can acquire without unreasonable effort or expense that is necessary
to make an informed investment decision with respect to the investment in the Parent Stock and any such additional information
has been provided to such Seller’s reasonable satisfaction, and (b) such Seller has sought such professional advice as it
has considered necessary to make an informed decision with respect to its acquisition of the Parent Stock. Except to the extent
expressly provided for in this Agreement, such Seller hereby agrees that neither Parent nor any of its Affiliates will have or
be subject to any liability or indemnification obligation to such Seller or to any other person resulting from the issuance of
shares of Parent Stock to such Seller. For the avoidance of doubt, nothing in this Section 3.7 shall limit or
restrict any Seller’s right to bring a claim for indemnification against Parent arising out of a breach of any representation
or warranty of Parent contained in Article 7 of this Agreement.

 

3.8
Restricted Securities; Legends.

 

(a)
Each Seller understands that the shares of Parent Stock to be received by such Seller in connection with the transactions contemplated
by this Agreement have not been registered under the Securities Act, by reason of a specific exemption from the registration provisions
of the Securities Act which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of
such Seller’s representations and warranties as expressed herein. Each Seller understands that such shares of Parent
Stock are “restricted securities” under applicable securities Laws and that, pursuant to such securities Laws, such
Seller must hold such shares indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption
from such registration and qualification requirements is available.

 

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(b) 
Each Seller understands that the shares of Parent Stock to be received by such Seller in connection with the transactions contemplated
by this Agreement may be notated with the legend in Section 3.8(b)(i), any other legend required as a result of any lock-up
restrictions or required by applicable securities Laws to the extent such Laws are applicable to such shares of Parent Stock represented
by the certificate, instrument, or book entry so legended:

 

(i)
“THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR ANY STATE SECURITIES LAWS AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED,
SOLD, PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED EXCEPT (1) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
ACT AND APPLICABLE STATE SECURITIES LAWS OR (2) PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT AND APPLICABLE STATE SECURITIES LAWS, IN WHICH CASE THE HOLDER MUST, PRIOR TO SUCH TRANSFER, FURNISH TO THE COMPANY AN OPINION
OF COUNSEL, WHICH COUNSEL AND OPINION ARE SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED
OR OTHERWISE TRANSFERRED IN THE MANNER CONTEMPLATED PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS, OR (3) IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S PROMULGATED UNDER
THE SECURITIES ACT, AND BASED ON AN OPINION OF COUNSEL, WHICH COUNSEL AND OPINION ARE SATISFACTORY TO THE COMPANY, THAT THE PROVISIONS
OF REGULATION S HAVE BEEN SATISFIED”.

 

(c)
  Opinion. Each Seller agrees that such Seller shall not transfer any or all of such Seller's shares of Parent Stock
received under this Agreement pursuant to Rule 144, under the Securities Act, Regulation S or absent an effective registration
statement under the Securities Act and applicable state securities Law covering the disposition of such shares of Parent Stock,
without first providing the Buyer and Parent’s transfer agent with such documents as are required from such Seller by Parent’s
transfer agent (which may include an opinion of such Seller’s counsel, which counsel and opinion are satisfactory to the
Buyer) to the effect that such transfer will be made in compliance with Rule 144, under the Securities Act, Regulation S
or will be exempt from the registration and the prospectus delivery requirements of the Securities Act and the registration or
qualification requirements of any applicable U.S. state securities Laws.

 

3.9
Brokers. No broker, finder or similar intermediary has acted for or on behalf of such Seller in connection with this Agreement
or the transactions contemplated hereby, and no broker, finder, agent or similar intermediary is entitled to any broker’s,
finder’s or similar fee or other commission in connection therewith based on any agreement with such Seller or any action
taken by them.

 

3.10
Sellers Reliance. Each of the Sellers acknowledges that, except for the representations and warranties contained in Article
5 (as modified by the Buyer Disclosure Schedules), in the Transaction Documents and in any certificate delivered in accordance
herewith, each Seller has not relied on any other express or implied representation or warranty or other statement by or on behalf
of the Buyer or any of its Affiliates.

 

 

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Article
4

 

REPRESENTATIONS
AND WARRANTIES OF THE COMPANY

 

Except
as otherwise set forth on the Seller Disclosure Schedules, the Company represents and warrants to the Buyer as of the Closing
Date as follows:

 

4.1
Organization. The Company is duly formed, validly existing and in good standing (to the extent such concept is applicable)
under the Laws of its jurisdiction of organization and has full corporate power and authority to own, operate or lease the properties
and assets now owned, operated or leased by it and to carry on its business as it has been and is currently conducted. The Company
is qualified, licensed or registered to transact business as a foreign entity and is in good standing (to the extent such concept
is applicable) in each jurisdiction in which the ownership or lease of property or the conduct of its business requires such qualification,
license or registration except where the failure to be so qualified, licensed or registered or in good standing (to the extent
such concept is applicable) would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect
to the Company.

 

4.2
Binding Obligations. The Company has all requisite authority and power to execute, deliver and perform this Agreement and
each Transaction Document to which it is a party and to consummate the transactions contemplated hereby and thereby. The execution,
delivery and performance of this Agreement and each Transaction Document to which it is a party by the Company and the consummation
of the transactions contemplated hereby and thereby have been duly and validly authorized by all necessary action on the part
of the Company and its stockholders. This Agreement and each Transaction Document to which it is a party has been duly executed
and delivered by the Company and, assuming that this Agreement constitutes the legal, valid and binding obligation of the Buyer,
constitutes the legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms,
except to the extent that the enforceability thereof may be limited by the Equitable Exceptions.

 

4.3
No Defaults or Conflicts.

 

(a)
  The execution, delivery and performance by the Company of this Agreement and each Transaction Document to which it is a
party and the consummation by the Company of the transactions contemplated hereby and thereby (whether with notice, lapse of time
or both) (i) do not and will not result in any violation of the certificate of incorporation or bylaws or other Organizational
Documents of the Company, (ii) except as set forth on Section 4.3(a) of the Seller Disclosure Schedules, do not and
will not require the consent, notice or other action by any Person under, conflict with, result in a violation or breach of, constitute
a default or an Occurrence that, with or without notice or lapse of time or both, would constitute a default under, result in
the acceleration of or create in any party the right to accelerate, terminate, modify or cancel any Material Contract to which
the Company is a party or any Permit affecting the properties, assets or business of the Company, (iii) do not and will not
violate in any material respect any existing applicable Law, rule, regulation, judgment, order or decree of any Governmental Authority
having jurisdiction over the Company, and (iv) do not and will not result in the creation or imposition of any Encumbrance other
than Permitted Encumbrances on any properties or assets of the Company, except, in the cases of (ii) – (iv), would not,
individually or in the aggregate, reasonably be expected to have a Material Adverse Effect to the Company.

 

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(b) 
Except as set forth on Section 4.3(b) of the Seller Disclosure Schedules, no authorization, Permit or approval or other
action by, and no notice to or filing with, any Governmental Authority will be required to be obtained or made by the Company
in connection with the execution, delivery and performance by the Company of this Agreement and the consummation by the Company
of the transactions contemplated hereby, except as would not, individually or in the aggregate, reasonably be expected to have
a Material Adverse Effect to the Company.

 

4.4
Capitalization.

 

(a) Other
than the Company Shares, there are no other Equity Interests of the Company issued or outstanding as of the date hereof. The Company
does not have any subsidiaries, and the Company does not own, directly or indirectly, or has the right to acquire, any Equity
Interests of any Person.

 

(b) All
of the Company Shares have been duly authorized, are validly issued, fully paid and non-assessable, and are owned of record and
beneficially by the Sellers, free and clear of all Encumbrances (other than restrictions on future transfers arising under the
Securities Act and applicable state securities Laws ).

 

(c)
All of the Company Shares were issued in compliance in all material respects with applicable Laws. None of the Company Shares
were issued in violation of any agreement, arrangement or commitment to which the Sellers or the Company is a party or is subject
to or in violation of any preemptive or similar rights of any Person.

 

(d) 
There are no outstanding or authorized options, warrants, RSUs, convertible securities or other rights, agreements, arrangements
or commitments of any character relating to the Equity Interests of the Company or obligating the Sellers or the Company to issue
or sell any Equity Interests in the Company. The Company does not have any outstanding or authorized stock appreciation, phantom
stock, profit participation or similar rights. There are no voting trusts, stockholder agreements, proxies or other agreements
or understandings in effect with respect to the voting or transfer of any of the Company Shares. There are no accrued but unpaid
distributions with respect to any Company Shares.

 

(e) 
The Distribution Schedule shall set forth a true and correct summary of the allocation of the amounts payable to the Sellers pursuant
to this Agreement. The allocation of payments set forth on the Distribution Schedule shall comply with the terms of the Company's
Organizational Documents and the Company Shares.

 

4.5
Litigation. Except at set forth on Section 4.5 of the Seller Disclosure Schedules, as of the date hereof, there
are no Proceedings pending or, to the Knowledge of the Company, threatened against the Company or affecting its properties or
assets or against or by any Seller or the Company that challenges or seeks to prevent, enjoin or otherwise delay the transactions
contemplated by this Agreement and the other Transaction Documents. Since the Lookback Date, no Occurrence has occurred and as
of the date hereof, no Occurrence exists that may give rise to, or serve as a basis for, any such Proceeding. There is no judgment,
decree, injunction or order of any Governmental Authority outstanding against the Company or affecting the Company Shares or the
business of the Company or any of its properties or assets, this Agreement, the other Transaction Documents or the transactions
contemplated hereby and thereby. To the Knowledge of the Company, no event has occurred or circumstances exist that may result
in the commencement of a Proceeding against or by any Seller affecting any of its properties or assets related to the business
or the Company Shares of the Company or against or by the Company or affecting any of its properties or assets, except as would
not reasonably be expected to have a Material Adverse Effect.

 

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4.6
Financial Statements.

 

(a) Section
4.6(a) of the Seller Disclosure Schedules sets forth a copy of each of (i) the unaudited consolidated balance sheet of the
Company as of December 11, 2020 (the “Balance Sheet Date”), and such other financial statements or reports
as the Buyer shall reasonably require (collectively referred to as the “Financial Statements”). The Financial
Statements (x) fairly present, in all material respects, the consolidated financial condition of the Company as at the respective
dates thereof and for the respective periods indicated therein and (y) were prepared in accordance with GAAP applied on a consistent
basis, subject to normal year-end adjustments (none of which are expected to be material) and the absence of notes.

 

(b) The
Company maintains a system of internal accounting controls and procedures appropriate for their size and the industry in which
they operate that are sufficient to provide reasonable assurance regarding the reliability of financial reporting and the preparation
of their financial statements in accordance with GAAP. The Company has not identified any significant deficiency or material weakness
in the system of internal accounting controls utilized by the Company.

 

(c) Section
4.6(c) of the Seller Disclosure Schedules contains a true, correct and complete list of all Indebtedness of the Company.

 

4.7
No Undisclosed Liabilities; Absence of Changes and Events. The Company does not have any Liabilities of any kind and there
is no Occurrence that would reasonably be expected to result in any Liabilities except for (a) Liabilities reflected on and reserved
against in the Interim Financial Statements, and (b) Liabilities that have arisen since the Balance Sheet Date in the ordinary
course of business (none of which are material (individually or in the aggregate) or relate to breach of Contract, breach of warranty,
tort, infringement, violation of Law, order or Permit, or any Proceeding). Since the Balance Sheet Date through the Closing Date,
(a) the Company has conducted its business in the ordinary course of business in all material respects consistent with past practice,
and (b) there has been no change, event, occurrence, fact or development that has had, or could reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect.

 

4.8
Intellectual Property.

 

(a) 
Section 4.8(a) of the Disclosure Schedules sets forth:

 

(i)
a complete and correct list of all (A) registered patents and pending patent applications, (B) all registered trademarks, tradenames,
and service mark registrations and applications to register any trademarks (including domain names) therefor, (C) material unregistered
trademarks, tradenames, and service marks, (D) copyright registrations and applications therefore, (E) internet domain name registrations,
in each case to the extent used in connection with the business and (F) Software, in each case, that are owned or purported to
be owned by the Company (collectively, the “Owned Intellectual Property”);

 

    - 28 -

     

    

 

(ii)
each exclusive or material non-exclusive license or agreement or express grants of right to use which the Company has granted
to any third party with respect to any Owned Intellectual Property (“IP Outbound Licenses”); and

 

(iii) each
item of Intellectual Property that any third party owns and that the Company uses in connection with the business pursuant to
a material license, sublicense, agreement or permission, in each case other than licenses of commercially available off-the-shelf
software licensed pursuant to shrink-wrap or click-wrap licenses (“IP Inbound Licenses” and together with the
IP Outbound Licenses, the “IP Licenses”).

 

(b) 
The Owned Intellectual Property and the IP Licenses include all of the Intellectual Property material to and used in the ordinary
conduct of the business by the Company as currently conducted, and, to the Knowledge of the Company, there are no other items
of Intellectual Property that are material to the ordinary conduct of the business as currently conducted. Section 4.8(b)
of the Disclosure Schedules sets forth a complete and correct list of all of the Owned Intellectual Property and IP Licenses set
forth in the immediately preceding sentence.

 

(c) 
All Owned Intellectual Property is solely owned (both beneficially and with respect to registrations and applications, as the
record owner) by the Company free and clear of all Encumbrances, other than Permitted Encumbrances, and, to the Knowledge of the
Company, all Owned Intellectual Property is subsisting, valid and enforceable;

 

(d) The
Company owns, or has a valid right to use free and clear of all Encumbrances (other than Permitted Encumbrances), all Intellectual
Property material to and used or held for use in, or necessary to conduct, the business of the Company as currently conducted;

 

(e) No
grants, funding, facilities, or personnel of any Governmental Authority or university, research institution or similar entity
was used to develop or create (in whole or in part) any Owned Intellectual Property;

 

(f) Neither
the validity, enforceability nor scope of, nor the Company’s title or other rights to, any material Intellectual Property
owned or purported to be owned by the Company, or to the Knowledge of the Company any other material Intellectual Property used
or held for use in conduct of the business of the Company, is currently being, or has been since the Lookback Date, challenged
in any Proceeding or threatened to be challenged in any Proceeding; and

 

(g) (i)
There are no Proceedings pending or, to the Knowledge of the Company, threatened in writing against the Company alleging that
the Company is infringing, misappropriating or otherwise violating, or has since the Lookback Date, infringed, misappropriated
or otherwise violated any of the rights of the Company in any of the Intellectual Property rights of any Person; (ii) there are
no Proceedings pending or threatened by the Company against any Person alleging infringement, misappropriation or other violation
of any Owned Intellectual Property; (iii) the operation or conduct of the business of the Company (including the use of any Intellectual
Property), as currently conducted and conducted since the Lookback Date has not infringed, misappropriated or otherwise violated
any Intellectual Property rights of any Person in any material respect, and there has been no Proceeding asserted or, to the Knowledge
of the Company, threatened in writing since the Lookback Date against the Company alleging the Company’s infringement, misappropriation,
or violation of any Intellectual Property rights of another Person in any material respect, and (iv) since the Lookback Date,
no Person has infringed or otherwise violated any Owned Intellectual Property in any material respect.

 

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(h) The
Company has taken commercially reasonable measures, consistent with customary practices in the industry in which it operates,
to protect the confidentiality of all of its material trade secrets and confidential and proprietary information. No director,
officer, employee, consultant, or other representative of the Company, to the Knowledge of the Company, claims any rights in any
Owned Intellectual Property. To the Knowledge of the Company, there has not been any disclosure of or access to any material trade
secret of the Company to any Person in a manner that has resulted or is reasonably likely to result in the loss of trade secret
in and to such information.

 

(i)
To the Knowledge of the Company, the Company does not collect or use Personal Information in any material respect. The Company
has not been notified of any Proceeding related to data security or privacy or alleging a violation of any of its privacy policies
or any Information Privacy and Security Law, nor, to the Knowledge of the Company has any such claim been threatened. The Company
has taken commercially reasonable measures designed to protect and maintain the confidentiality of all Personal Information collected
by or on behalf of the Company and to maintain the security of their data storage practices for Personal Information, in each
case, in accordance, in all material respects, with all Information Privacy and Security Laws and consistent with commercially
reasonable industry practices applicable to such types of data gathered and maintained in the industry in which the Company conducts
its business. To the Knowledge of the Company, since the Lookback Date there has been no unauthorized access, use, or disclosure
of Personal Information in the possession or control of the Company or any of its providers or other contractors, except as would
not reasonably be expected to have a Material Adverse Effect to the Company.

 

(j)
All of the IT Systems material to the Company are owned by, or validly licensed, leased or supplied under a written contract to
the Company, and they comprise all of the IT Systems that are required to carry on the business of the Company as they were carried
out in the twelve (12) months prior to the date hereof. The Company’s rights with respect to the IT Systems will not be
lost or rendered liable to termination by virtue of the performance of this Agreement other than as set out in a Contract required
to be disclosed by this Agreement. The Company has maintained commercially reasonable administrative, physical and technical safeguards
consistent with normal industry practice that are designed to (i) protect the confidentiality, integrity and accessibility of
IT Systems and information contained therein (including Intellectual Property, Personal Information, and other information subject
to confidentiality obligations), and specifically, (ii) prevent against loss and unauthorized access, use, modification, disclosure
or other use of such information that would not, in each foregoing case, be consistent with the Company’s published privacy
policy or Contract to which it is party. With respect to the IT Systems, since the Lookback Date (A) they have not failed to comply
with any service level obligations in its Contracts with customers for the Company’s products or services in any material
respect, (B) none of the data (including Owned Intellectual Property, Personal Information, and data owned by customers with which
Company has a Contract) that they store or process has been corrupted to a material extent, and (C) and, to the Knowledge of the
Company, none of the data (including Owned Intellectual Property, Personal Information, and data owned by customers with which
Company has a Contract) that they store or process has been subject to any actual or suspected material data loss or theft, unauthorized
access, malware intrusion, or other cybersecurity breach. Except as would not reasonably be expected to be material to the Company,
the Company has been, and are, in compliance with all contractual obligations concerning the security and privacy of IT Systems
and information contained therein (including Intellectual Property, personal data and customer data, and other information subject
to confidentiality obligations).

 

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4.9
Compliance with Laws. The Company is, and since the Lookback Date has been, in compliance in all material respects with
all Laws applicable to the business, operation and assets of their respective businesses and all products manufactured and sold
into commerce by or for the Company. None of the Company is subject to any unsatisfied order, judgment, injunction, ruling, decision,
award or decree of any Person or Governmental Authority.

 

4.10
Contracts. Section 4.10 of the Disclosure Schedules sets forth a correct and complete list of each of the following
types of Contracts to which the Company is a party or by which their respective assets or properties are bound or subject as of
the date hereof (such Contracts, whether or not listed on Section 4.10 of the Disclosure Schedules, and together with the
Existing Employment Agreements and IP Licenses, hereinafter referred to as “Material Contracts”):

 

(a) all
Contracts pursuant to which the Company (i) made payments to any third party in the twelve (12) month period preceding the
Closing Date, in each case, in excess of $25,000 or (ii) received payments from any third party in the twelve (12) month period
preceding the Closing Date, in each case, in excess of $25,000;

 

(b) all
Contracts involving the performance of services or delivery of goods or materials by or to the Company (i) outside of the continental
United States or (ii) which are not terminable by the Company without payment of penalty or premium on not more than thirty (30)
days’ notice;

 

(c) all
partnership, joint venture tax sharing or similar agreements involving a share of profits, losses, costs or Liabilities between
the Company and a third party;

 

(d) all
Contracts entered into in connection with any merger, consolidation or other business combination or any acquisition or disposition
of a business or any material assets and pursuant to which the Company has an existing obligation; provided, that the foregoing
shall not apply to non-disclosure agreements entered into in connection therewith;

 

(e) all
Contracts restricting the Company from (i) competing in any line of business or geographic region with any Person (ii) soliciting
any customers, suppliers, employees or contractors of any other Person, or (iii) selling to or purchasing from any other Person;

 

(f) all
collective bargaining or similar agreements;

 

    - 31 -

     

    

 

(g) (i)
any indenture, mortgage, pledge, security agreement, note or other Contract evidencing Indebtedness of the Company or otherwise
placing an Encumbrance on any asset or property of the Company, (ii) any guaranty or any other evidence of Liability for any Indebtedness
or obligation of any other Person, or (iii) any letter of credit, bond or other indemnity (including letters of credit, bonds
or other indemnities as to which the Company is the beneficiary but excluding endorsements of instruments for collection in the
ordinary course of the operation of such entity);

 

(h) all
Contracts with Material Customers;

 

(i)
all Contracts with Material Suppliers;

 

(j)
all Contracts with any Governmental Authority;

 

(k) all
outstanding powers-of-attorney granted by the Company for any purpose (other than for ordinary course tax preparation);

 

(l)
each form of Contract used by the Company as a standard form in the ordinary course of business;

 

(m)
all Contracts related to capital projects and capital expenditures in excess of $25,000 individually or $50,000 in the aggregate;
and

 

(n) each
other Contract to which the Company is a party or by which it or its assets are otherwise bound which is reasonably likely to
involve the payment to or by the Company of more than $25,000 in the aggregate in the twelve (12) months following the Closing
Date.

 

The
Company has made available to the Buyer true and complete copies of each Material Contract (including all modifications, amendments
and supplements thereto and waivers thereunder) either in the Electronic Data Room or under separate cover as set forth on Section
4.10(n) of the Seller Disclosure Schedules. The Company is not and, to the Knowledge of the Company, any other party thereto is
not in breach of or default under (or is alleged to be in breach or default under) or has provided or received any written notice
of any intention to terminate any Material Contract. Each Material Contract to which the Company is a party (x) is a legal and
binding obligation of the Company and, to the Knowledge of the Company, the other relevant parties thereto and (y) is in full
force and effect, enforceable against the Company and, to the Knowledge of the Company, the other parties thereto, in accordance
with the terms thereof, except to the extent that the enforceability thereof may be limited by the Equitable Exceptions. No Occurrence
has occurred or exists which, with notice or lapse of time or both, may give rise to, serve as a basis for, or would constitute
an event of default under any Material Contract or result in a termination thereof or would cause or permit the acceleration or
other changes of any right or obligation or the loss of any material benefit thereunder.

 

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4.11
Taxes. Except as set forth on Section 4.11 of the Disclosure Schedules:

 

(a)The
Company has timely filed all income and other material Tax Returns required to be filed by it on or before the Closing Date. All
such Tax Returns are true, correct and complete in all material respects. The Company has fully and timely paid and discharged
all material Taxes required to be paid by it (whether or not shown on any Tax Returns). The Company has withheld, collected and
paid over to the appropriate Governmental Authorities all Taxes required by Law to be withheld or collected from amounts paid
or owing to any employee, equityholders, creditor, holder of securities or other third party, and has complied in all material
respects with all information reporting (including IRS Form 1099) and backup withholding requirements. The Company is not currently
the beneficiary of any extension of time within which to file any Tax Return.

 

(b)
The Company is not and have never been a member of an affiliated group within the meaning of Section 1504(a) of the Code (or any
similar group defined under a similar provision of state, local, or foreign Law) filing a consolidated Income Tax Return, nor
does the Company have any Liability for the Taxes of any Person under Treasury Regulation Section 1.1502-6 or any analogous or
similar provision of Law, by Contract (except for any commercial Contract entered into in the ordinary course of business the
primary purpose of which is not Taxes), as a transferee or successor, or otherwise.

 

(c)The
Company has not been subject to any audit by any Taxing Authority for Taxes, and there is no dispute or claim concerning any Tax
Liability of the Company threatened, claimed or raised in writing by any Taxing Authority.

 

(d)
The Company is not a party to or bound by any Tax Sharing Agreement with any Person.

 

(e)
No claim has ever been made by a Taxing Authority in a jurisdiction where the Company does not file Tax Returns that the Company
is or may be subject to taxation by such jurisdiction.

 

(f)
The Company has not waived any statute of limitations in respect of Taxes or agreed to any extension of time with respect to a
Tax assessment or deficiency, which waiver or agreement is still in effect.

 

(g)There
are no Encumbrances for Taxes (other than Permitted Encumbrances) upon any of the assets of the Company.

 

(h)
  The Company will not be required to include any material item of income in, or exclude any material item of deduction from,
taxable income for any taxable period (or portion thereof) ending after the Closing Date as a result of any: (A) change in method
of accounting requested or initiated prior to the Closing; (B) use of an improper method of accounting for a taxable period ending
on or prior to the Closing Date; (C) “closing agreement” as described in Code Section 7121 (or any corresponding or
similar provision of state, local or foreign law); (D) deferred intercompany gain or any excess loss account described in Treasury
Regulations under Code Section 1502 (or any corresponding or similar provision of state, local or foreign law); (E) installment
sale made prior to the Closing Date; (F) prepaid amount received on or prior to the Closing Date; (G) method of accounting that
defers the recognition of income to any period ending after the Closing Date; or (H) election under Code Section 108(i).

 

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(i)
The Company is not and has never been a party to any “listed transaction”, as defined in Section 6707A(c)(2) of the
Code and Section 1.6011-4(b)(2) of the Treasury Regulations.

 

(j)
The Company has not and has never had a taxable presence in any jurisdiction other than jurisdictions for which Tax Returns have
been duly filed and Taxes have been duly and timely paid.

 

(k)
  There are no closing agreements, ruling requests, subpoenas or requests for information or similar arrangements with any
Governmental Authority with respect to the determination of the Tax Liability of the Company that would have continuing effect
on periods (or portions thereof) ending after the Closing Date.

 

(l)
No power of attorney has been given by or is binding upon the with respect to Taxes or Tax Returns for any period for which the
statute of limitations (including any waivers or extensions thereof) has not yet expired.

 

(m)
The Company has not made an election pursuant to Treasury Regulations Section 301.7701-3 through the filing of an IRS Form 8832.

 

4.12
Permits. The Company is not in default or violation of any permits, licenses, approvals, certificates and other authorizations
of and from all Governmental Authorities necessary for the lawful conduct of the business of the Company (“Material Permits”),
and no Occurrence has occurred that, with or without notice or lapse of time or both, would constitute a default or violation
of any term, condition or provision of any Material Permit, and no Proceeding is pending or, to the Knowledge of the Company,
threatened to revoke, modify or terminate any Material Permit in any material respect.

 

4.13
Employee Benefit Plans.

 

(a)
  Section 4.13(a) of the Disclosure Schedules sets forth a true and complete list of each “employee benefit
plan” (within the meaning of Section 3(3) of ERISA), stock purchase, stock option, severance, employment, change-in-control,
fringe benefit, collective bargaining, bonus, incentive, deferred compensation, profit sharing, pension, retirement and all other
employee benefit plans, agreements, programs, policies or other arrangements, whether or not subject to ERISA, which is or has
been maintained, sponsored, contributed to, or required to be contributed to, by the Company for the benefit of any current or
former employee of the Company or under which the Company has any present or future material Liability (other than any “multiemployer
plan” as defined in Section 3(37) of ERISA (a “Multiemployer Plan”)). All such plans, agreements,
programs, policies and arrangements shall be collectively referred to as the “Company Plans.”

 

(b)
  The Company does not contribute to or has any Liability (either potential or assessed) under any Multiemployer Plan.

 

(c)
  (i) Each Company Plan has been established and administered in accordance with its terms in all material respects, and
in material compliance with the applicable provisions of ERISA, the Code and other applicable Laws, rules and regulations; (ii) each
Company Plan which is intended to be qualified within the meaning of Code Section 401(a) has received a favorable determination
letter from the IRS as to its qualification, and to the Knowledge of the Company, nothing has occurred that would or would reasonably
be expected to cause the loss of such qualification; and (iii) with respect to each Company Plan that is a “welfare
plan” within the meaning of ERISA Section 3(1), the Company does not have any Liability or obligation to provide medical
or death benefits with respect to current or former employees of the Company beyond their termination of employment (other than
coverage mandated by Law).

 

    - 34 -

     

    

 

(d)
  The Company does not contribute to or has any Liability with respect to any benefit plan that is subject to Title IV of
ERISA.

 

(e)
  There is no pending, or, to the Knowledge of the Company, threatened or anticipated Proceeding relating to any Company
Plan (other than non-material routine claims for benefits and appeals of such claims), any trustee or fiduciaries thereof or any
of the assets of any trust of any Company Plan. No Company Plan has since the Lookback Date been the subject of an examination
or audit by any Governmental Authority. There has been no non-exempt prohibited transaction or fiduciary breach with respect to
any Company Plan for which the Company could be liable (either directly or through indemnification).

 

(f)
   Except as required in connection with qualified plan amendments required by the vesting of accrued benefits under
any Company Plan or as contemplated under this Agreement as a result of termination of that Company Plan or as contemplated under
this Agreement, the consummation of the transactions contemplated by this Agreement (either alone or in connection with another
event) will not: (i) accelerate the time of payment or vesting, or increase the amount of compensation due to any employee, officer,
former employee or former officer of the Company; or (ii) result in the triggering or imposition of any restrictions or limitations
on the right of the Company to amend or terminate the Company Plan. No amount that will be received (whether in cash or property
or vesting of property), or benefit provided to, any officer, director or employee of the Company who is a “disqualified
individual” (as such term is defined in proposed Treasury Regulation 1.280G-1) under any employment, severance or termination
agreement, other compensation arrangement or benefit plan currently in effect as a result of the transaction contemplated by this
Agreement will be an “excess parachute payment” (as such term is defined under 280G(b)(1) of the Code); and no such
person is entitled to receive any additional payment from the Company in the event that the excise tax under 4999(a) of the Code
is imposed on such person.

 

(g)
  To the extent applicable, all Company Plans have been fully funded, all social security, pension and similar contributions
and payments required to be made by the Company with respect to any Company Plan have been fully paid when due. Any such plans
or arrangements have been established and administrated in accordance with its terms and applicable Law.

 

    - 35 -

     

    

 

4.14
Employee and Labor Matters.

 

(a) Section 4.14(a) of the Disclosure Schedules sets forth a true, correct and complete listing of all material employees
of the Company (collectively, the “Company Employees”), all individuals performing services and classified
as independent contractors, and all leased employees (as defined in Code Section 414(n)) of the Company, as of the date hereof,
including each such Person’s name, job title or function and job location, as well as a list of his or her current and prior
calendar year salary or wage payable by the Company, and for each Company Employee, the amount of all incentive compensation paid
or payable to such Person for the current and prior calendar year, the amount of accrued but unused vacation time and/or paid
time off, each as of the date hereof, whether any Company Employee is on an employer-sponsored non-immigrant visa and if so, the
type and expiration date, and each Company Employee’s current status (as to leave or disability status and full time or
part time, exempt or nonexempt and temporary or permanent status). Except as identified on Section 4.14(a) of the Seller
Disclosure Schedules, the Company has not paid or promised to pay any bonuses, commissions or incentives to any Company Employee,
including any officer or director. Each Person who provides services to the Company is properly classified with respect to employment
status for all purposes, including employment, labor and wage, social security contributions and hour compliance and Tax purposes.
The Company is, and since the Lookback Date has been, in material compliance with all Laws relating to the employment of labor,
including provisions thereof relating to wages, hours, equal opportunity, collective bargaining, immigration, verification of
work authorization, and the payment of social security and other Taxes.

 

(b) Section 4.14(b) of the Disclosure Schedules sets forth a true and complete list as of the date hereof of each separate
written employment, consulting, severance, retention, indemnification, termination or change-of-control Contract between the Company
and any individual employee, officer or director of the Company (collectively, the “Existing Employment Agreements”).

 

(c) The Company has paid or made provision for payment of all salaries, wages, social security contributions accrued overtime,
vacation and/or holiday pay, which are payable by the Company to any Company Employees, independent contractors and leased
employees, accrued through the date hereof and to the Knowledge of the Company, the Company is not engaged in any unfair
labor practices.

 

(d) The Company is not a party to any labor, union or collective bargaining agreement or other similar agreement, and no union
or labor organization has been certified or recognized as the representative of any of its employees, or to the Knowledge of the
Company, is seeking such certification or recognition or is attempting to organize any of such employees. There is no pending
or, to the Knowledge of the Company, threatened, labor strike, walk-out, slowdown, work stoppage, lockout or other similar labor
activities with respect to the. The Company is not subject to any unfair labor practice charges against the Company before the
National Labor Relations Board, the Equal Employment Opportunity Commission or any similar state, local or foreign Governmental
Authority responsible for the prevention of unlawful employment practices. To the Knowledge of the Company, no petition has been
filed nor has any proceeding been instituted by any Company Employee or group of Company Employees with the National Labor Relations
Board or similar Governmental Authority seeking recognition of a collective bargaining agreement. To the Knowledge of the Company,
there are no Persons attempting to represent or organize or purporting to represent for bargaining purposes any of the Company
Employees.

 

(e) The Company has not received written notice of the intent of any Governmental Authority responsible for the enforcement
of labor or employment Law to conduct an investigation with respect to or relating to employees compliance with or an alleged
violation or breach of any Company policy or practice or Law applicable thereto and, to the Knowledge of the Company, no such
investigation is in progress.

 

    - 36 -

     

    

 

4.15
Environmental Compliance. Except as set forth on Section 4.15 of the Seller Disclosure Schedules:

 

(a) The Company is, and since the Lookback Date has been, in material compliance with all Environmental Laws and have not received
from any Person any (i) written Environmental Notice or Environmental Claim, or (ii) written request for information pursuant
to Environmental Law, or (iii) been party to any order, decree or settlement issued pursuant to Environmental Law which, in each
case, either remains pending or unresolved, or is the source of ongoing obligations or requirements.

 

(b) The Company is, and since the Lookback Date has been, in material compliance with all Environmental Permits necessary for
the ownership, lease, operation or use of the business or assets of the Company.

 

4.16
Insurance.

 

(a) Section 4.16(a) of the Disclosure Schedules sets forth each policy and binder of insurance (including property,
casualty, liability, life, health, accident, workers’ compensation and bonding arrangements) owned by, or maintained for
the benefit of, or respecting which any premiums are paid directly or indirectly by the Company (collectively, the “Insurance
Policies”). the Insurance Policies are in full force and effect and shall remain in full force and effect following
consummation of the transactions contemplated by this Agreement. The premiums due and payable under the Insurance Policies have
been paid in full or have been fully accrued for on the Financial Statements and the Company is not in default thereunder. The
Insurance Policies are sufficient for compliance in all material respects with all applicable Laws and all Contracts by which
the Company is bound.  

 

(b) The Company has not received (i) any notice of cancellation or intent to cancel or increase or intent to increase premiums
with respect to the Insurance Policies, (ii) written notice that would reasonably be expected to be followed by a written notice
of cancellation or non-renewal of any Insurance Policy, (iii) any notice of denial of coverage or reservation of rights with respect
to any pending or threatened claims against any such Insurance Policy, (iv) any notice that any issuer of such Insurance Policy
has filed for protection under applicable bankruptcy or insolvency Laws or is otherwise in the process of liquidating or has been
liquidated, or (v) any other indication that any such Insurance Policy may no longer be in full force or effect or that the issuer
of any such policy or binder may be unwilling or unable to perform its obligations thereunder.

 

4.17
Real Property.

 

(a) The Company does not own any real property.

 

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(b) Section 4.17(b) of the Disclosure Schedules sets forth all real property leased or subleased (the “Leased
Real Property”) by the Company (the Contracts pursuant to which such Leased Real Property is leased being the “Leases”)
and a copy of the Leases. With respect to the Leases, the Company and, to the Knowledge of the Company, any other party to any
such Lease, is not in breach of or default under such Lease in any material respect. Each Lease to which the Company is a party
(i) is a legal and binding obligation of the Company and, to the Knowledge of the Company, the other relevant parties thereto
and (ii) is in full force and effect, enforceable against the Company and, to the Knowledge of the Company, the other parties
thereto, in accordance with the terms thereof, except to the extent that the enforceability thereof may be limited by the Equitable
Exceptions. The Company has accepted possession of the Leased Real Property demised pursuant to each Lease and is in actual possession
thereof and has not sublet, assigned, encumbered or hypothecated its leasehold interest. Except as set forth on Section 4.17(b)
of the Disclosure Schedules, the Company has all right, title, and interest in all leasehold estates and other rights purported
to be granted to it by each Lease, in each case free and clear of any Encumbrance. To the Knowledge of the Company there are no
Occurrences which, with the passage of time, notice, or both, would result in a breach or default on the part of the Company or
the lessor thereunder.

 

4.18
Title to Assets.

 

(a) The Company has good and valid title to, or a valid leasehold interest in or other valid right to use, all of the tangible
assets and properties that are (i) reflected in the Interim Financial Statements, or (ii) were acquired since the Balance Sheet
Date and are material to the operations of the business and the Company (except in each case for assets and properties disposed
of since the Balance Sheet Date in the ordinary course of business consistent with past practice). All such assets and properties
are held free and clear of all Encumbrances other than Permitted Encumbrances.

 

(b) Immediately following the consummation of the transactions contemplated by this Agreement, the Company will own or have
the right to use all assets (whether tangible, intangible or mixed) reasonably necessary for the continued conduct of the business
of the Company and the Company after the Closing in the same manner as conducted immediately prior to the Closing.

 

4.19
Affiliate Transactions. Except for the Existing Employment Agreements, the Company is not a party to any Contract with
any Related Party. No Related Party has any claim or right against the Company.

 

4.20
Absence of Certain Changes or Events. Since the Balance Sheet Date, (x) there has been no Material Adverse Effect, and
(y) the Company has conducted their respective businesses in the ordinary course of business (other than with respect to the sale
process in connection with the transactions contemplated by this Agreement and the Transaction Documents).

 

4.21
Customers and Suppliers. Section 4.21 of the Disclosure Schedules sets forth: (a) the ten (10) largest customers
of the Company, measured by the aggregate revenues attributable to each during the twelve (12) month period preceding the Closing
Date (the “Material Customers”), and (b) the ten (10) largest suppliers and vendors of the Company, measured
by the aggregate expenditures attributable to each during the twelve (12) month period preceding the Closing Date (the “Material
Suppliers”). No such Material Customer or Material Supplier (x) has terminated or materially reduced the amount of business
transacted with the Company from that which has been conducted with the Company since January 1, 2020 or (y) provided notice to
the Company of its intention to do any of the foregoing in clause (x).

 

    - 38 -

     

    

 

4.22
Accounts Receivable. The accounts receivable reflected on the Interim Financial

 

Statements
and the accounts receivable arising after the date thereof (a) have arisen from bona fide transactions entered into by the Company
involving the sale of goods or the rendering of services in the ordinary course of business consistent with past practice; (b)
constitute only valid, undisputed claims of the Company not subject to claims of set-off or other defenses or counterclaims other
than normal cash discounts accrued in the ordinary course of business consistent with past practice; and (c) are subject to a
reserve for bad debts shown on the Interim Financial Statements. The reserve for bad debts shown on the Interim Financial Statements
or, with respect to accounts receivable arising after the Balance Sheet Date, on the accounting records of the Company have been
determined in accordance with GAAP consistently applied, subject to normal year-end adjustments and the absence of disclosures
normally made in footnotes.

 

4.23
Foreign Corrupt Practices Act.

 

(a) To the Knowledge of the Company, none of the Company or any director, officer, agent, employee, Affiliate or other Person
acting on behalf of the Company is aware of or has taken any action, directly or indirectly, that would result in a violation
by such Persons of either (i) the Foreign Corrupt Practices Act of 1977 (the “FCPA”) or any other applicable
anti-corruption or anti-money laundering Law, including making use of the mails or any means or instrumentality of interstate
commerce corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other
property, gift, promise to give, or authorization of the giving of anything of value to any “foreign official” (as
such term is understood with respect to the FCPA) or any foreign political party or official thereof or any candidate for foreign
political office or agent thereof, in contravention of the FCPA or (ii) or any other applicable anti-corruption or anti-money
laundering Law. To the Knowledge of the Company, the Company has conducted their businesses in compliance with the FCPA and have
instituted and maintain policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, continued
compliance therewith.

 

(b) The Company (i) does not have any pending voluntary self-disclosures with respect to applicable export or reexport control
or sanctions Laws, orders or regulations of any and all applicable jurisdictions, including the United States and any jurisdiction
in which the Company is established or from which it exports or reexports any items or in which it provides services, including
the Export Administration Regulations with the Bureau of Industry and Security of the U.S. Department of Commerce, sanctions and
embargo executive orders and regulations administered by the Office of Foreign Assets Control of the U.S. Treasury Department
and the International Traffic in Arms Regulations administered by the Directorate of Defense Trade Controls of the U.S. State
Department, all as amended from time to time (collectively, “Export Control Laws”), or (ii) has not received
written notice from any Governmental Authority that the Company is under criminal or civil investigation concerning any of the
Export Control Laws. The Company has at all times acted without violation and in compliance with the Export Administration Regulations
with the Bureau of Industry and Security of the U.S. Department of Commerce and any sanctions and embargo executive orders and
regulations administered by the Office of Foreign Assets Control of the U.S. Treasury Department.

 

    - 39 -

     

    

 

(c) The Company has not received any written notice from any Governmental Authority of non-compliance with any of the Export
Control Laws which could subject the Company to civil or criminal fines, penalties or other measures.

 

4.24
Bank Accounts; Powers of Attorney. Section 4.24 of the Disclosure Schedules sets forth a true, correct and complete
list of: (a) each bank, savings and loan or similar financial institution with which the Company has an account or safety deposit
box or other similar arrangement, (b) the type of account, (c) the numbers or other identifying codes of such accounts, safety
deposit boxes or other similar arrangements and (d) the names of all Persons authorized to access or draw on any such accounts,
safety deposit box facilities or other similar arrangements.

 

4.25
Solvency. No insolvency proceeding of any character, including bankruptcy, receivership, reorganization, composition or
arrangement with creditors, voluntary or involuntary, affecting the Company, any of its assets or properties, is pending or, to
the Knowledge of the Company, threatened. The Company has not taken any action in contemplation of, or that would constitute the
basis for, the institution of any such insolvency proceedings. No obligation is being incurred in connection with the transactions
contemplated by this Agreement with the intent to hinder, delay or defraud either present or future creditors of the Company,
the Sellers or any of their respective Affiliates.

 

4.26
Brokers. No broker, finder or similar intermediary has acted for or on behalf of the Company or the Sellers in connection
with this Agreement or the transactions contemplated hereby, and no broker, finder, agent or similar intermediary is entitled
to any broker’s, finder’s or similar fee or other commission in connection therewith based on any agreement with the
Company or the Sellers or any action taken by them.

 

4.27
Company’s Reliance. The Company acknowledges that, except for the representations and warranties contained in Article
5 (as modified by the Buyer Disclosure Schedules), in the Transaction Documents and in any certificate delivered in accordance
herewith, the Company has not relied on any other express or implied representation or warranty or other statement by or on behalf
of the Buyer, Parent or any of their respective Affiliates.

 

4.28
 Electronic Data Room. The information and documentation contained in the Electronic Data Room, together with
the information set forth on the Seller Disclosure Schedules, (i) is true and accurate in all material respects, (ii) reflects
the subject matter to which it is identified as relating to on its face, (iii) does not include, or omit, any matter of material
importance which is materially incorrect or misleading and (iv) does not omit any material information or agreement (including
any talent agreements) to which the Company is a party that is required to be disclosed under this Article 4.

 

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Article
5

 

REPRESENTATIONS
AND WARRANTIES OF THE BUYER and parent

 

Except
(a) as otherwise expressly set forth on the disclosure schedules of the Buyer and Parent attached hereto (collectively, the “Buyer
Disclosure Schedules”) or (b) as disclosed in the Parent SEC Reports filed or furnished on or prior to Closing Date,
each of the Buyer and Parent, jointly and severally, represents and warrants to the Sellers as of the date hereof as follows (as
used in this Article 5, “to the knowledge of the Buyer or Parent” shall mean information actually known by
Robert S. Ellin and Jerome N. gold, and the knowledge such persons would have after reasonable due inquiry):

 

5.1
Organization. Each of the Buyer and Parent is a corporation duly organized, validly existing and in good standing under
the Laws of the jurisdiction in which it is organized.

 

5.2
Binding Obligations. The Buyer and Parent each has all requisite authority and power to execute, deliver and perform this
Agreement and each Transaction Document to which it is a party and to consummate the transactions contemplated hereby and thereby.
The execution, delivery and performance by the Buyer and Parent of this Agreement and each Transaction Document to which it is
a party and the consummation of the transactions contemplated hereby and thereby have been duly and validly authorized by all
necessary action on the part of the Buyer and Parent, as applicable. This Agreement and each Transaction Document to which it
is a party has been duly executed and delivered by the Buyer and Parent and, assuming that this Agreement and each Transaction
Document constitutes the legal, valid and binding obligations of the Sellers and the Company, constitutes the legal, valid and
binding obligations of the Buyer and Parent, enforceable against the Buyer and Parent in accordance with its terms, except to
the extent that the enforceability thereof may be limited by the Equitable Exceptions.

 

5.3
No Defaults or Conflicts.

 

(a) The execution, delivery and performance by the Buyer and Parent of this Agreement and each Transaction Document to which
it is a party and the consummation by the Buyer of the transactions contemplated hereby and thereby (whether with notice, lapse
of time or both) (i) do not and will not result in any violation of the applicable Organizational Documents of the Buyer
and Parent, (ii) do not and will not conflict with, or result in a breach of any of the terms or provisions of, or constitute
a default under, any Contract to which the Buyer or Parent is a party or by which it is bound or to which its properties
are subject, and (iii) do not and will not violate any existing applicable Law, rule, regulation, judgment, order or decree
of any Governmental Authority having jurisdiction over the Buyer and Parent; provided, however, that no representation
or warranty is made in the foregoing clauses (i), (ii) or (iii) with respect to matters that, individually or in
the aggregate, would not reasonably be expected to have a material adverse effect on the Buyer or Parent’s ability to consummate
the transactions contemplated hereby.

 

(b) No authorization or approval or other action by, and no notice to or filing with, any Governmental Authority will be required
to be obtained or made by the Buyer or Parent in connection with the execution, delivery and performance by the Buyer and Parent
of this Agreement and the consummation by the Buyer and Parent of the transactions contemplated hereby, other than such as have
been obtained or made or which the failure to obtain would not reasonably be expected to have a material adverse effect on the
Buyer or Parent’s ability to consummate the transactions contemplated hereby.

 

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5.4
Litigation. Except as set forth in the Parent SEC Reports, is no Proceeding pending or, to the knowledge of the Buyer or
Parent, threatened against the Buyer or Parent before any Governmental Authority which seeks to prevent the transactions contemplated
hereby or that otherwise would reasonably be expected to have a material adverse effect on the Buyer or Parent’s ability
to effect the transactions contemplated hereby.

 

5.5
Parent Capitalization.

 

(a) The authorized capital stock of Parent consists of 500,000,000 shares of common stock and 10,000,000 shares of preferred
stock, $0.001 par value per share. As of the close of business on December 16, 2020, there were (i) 72,867,924 shares of common
stock issued and outstanding and no shares of preferred stock issued and outstanding and (ii) no shares of common stock or preferred
stock are held in treasury.

 

(b) Except as set forth in the Parent SEC Reports or in Section 5.5(b) of the Buyer Disclosure Schedules, (i) there
are no Equity Interests of any class of Parent, or any security exchangeable into or exercisable for such Equity Interests, issued,
reserved for issuance or outstanding, (ii) there are no options, warrants, equity securities, calls, rights, commitments or agreements
to which Parent is a party or by which Parent is bound obligating Parent to issue, exchange, transfer, deliver or sell, or cause
to be issued, exchanged, transferred, delivered or sold, additional shares of capital stock or other Equity Interests of Parent
or any security or rights convertible into or exchangeable or exercisable for any such shares or other Equity Interests, or obligating
Parent to grant, extend, otherwise modify or amend or enter into any such option, warrant, Equity Interest, call, right, commitment
or agreement, (iii) Parent has no obligation (contingent or otherwise) to issue any subscription, warrant, option, convertible
security or other such right, or to issue or distribute to holders of any Equity Interests of Parent any evidences of Indebtedness
or assets of Parent, and (iv) Parent has no obligation (contingent or otherwise) to purchase, redeem or otherwise acquire any
Equity Interests or to pay any dividend or to make any other distribution in respect thereof.

 

5.6
Parent Stock. The shares of Parent Stock subject to issuance pursuant to Article 2, upon issuance on the terms and
conditions specified in the instruments pursuant to which they are issuable, are duly authorized, validly issued, fully paid and
non-assessable, free and clear of all Encumbrances (other than restrictions on future transfers arising under the Securities Act
and applicable state securities Laws or any Encumbrances imposed as a result of any action or inaction of any Seller). The shares
of Parent Stock are not subject to and are not issued in violation of any purchase option, call option, right of first refusal,
preemptive right, subscription right or any similar right under any provision of Parent’s Organizational Documents, Delaware
General Corporation Law, or any agreement to which Parent is a party or is otherwise bound. There are no obligations, contingent
or otherwise, of Parent or its Affiliates to repurchase, redeem or otherwise acquire any shares of Parent Stock.

 

5.7
Parent SEC Filings; Financial Statements; Information Provided.

 

(a) Parent has filed all registration statements, forms, reports, certifications and other documents required to be filed by
Parent with the SEC since January 1, 2020 (the “Parent SEC Reports”). All of the Parent SEC Reports (i) have
been filed on a timely basis, (ii) at the time filed, complied as to form in all material respects with the requirements of the
Securities Act and the Exchange Act applicable to such Parent SEC Reports and (iii) did not at the time they were filed contain
any untrue statement of a material fact or omit to state a material fact required to be stated in such Parent SEC Reports or necessary
in order to make the statements in such Parent SEC Reports, in the light of the circumstances under which they were made, not
misleading, in any material respect.

 

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(b) Each of the consolidated financial statements (including, in each case, any related notes and schedules) contained in the
Parent SEC Reports at the time filed (i) complied in all material respects with applicable accounting requirements and the published
rules and regulations of the SEC with respect thereto, (ii) were prepared in accordance with GAAP applied on a consistent basis
throughout the periods involved and at the dates involved (except as may be indicated in the notes to such financial statements
or, in the case of unaudited interim financial statements, as permitted by the SEC on Form 10-Q under the Exchange Act), and (iii)
fairly presented in accordance with GAAP the consolidated financial position of Parent and its subsidiaries as of the dates indicated
and the consolidated results of its operations and cash flows for the periods indicated, except that the unaudited interim financial
statements were or are subject to normal and recurring year-end adjustments. Except as set forth in the Parent SEC Reports, Parent
has no liabilities or obligations of any nature (whether accrued, absolute, contingent or otherwise) required by GAAP to be set
forth on a balance sheet of Parent or in the notes thereto, and since the date of the last balance sheet of Parent filed in the
Parent SEC Reports, there is no Occurrence that would reasonably be expected to result in any Liabilities except for Liabilities
that have arisen in the ordinary course of business (none of which are material (individually or in the aggregate) or relate to
breach of Contract, breach of warranty, tort, infringement, violation of Law, order or Permit, or any Proceeding).

 

(c)  Except as disclosed in the Parent SEC Reports, from the date of the most recent audited financial statements included in
the Parent SEC Reports to the date of this Agreement, Parent has conducted its business only in the ordinary course, other than
with respect to taking any necessary actions in connection with, and other than to the extent it has not be possible to conduct
its business by reason of, any epidemic, pandemic or other similar outbreak (including the COVID-19 virus).

 

5.8
Parent Listing; Investment Company. The Parent Stock is registered pursuant to Section 12(b) of the Exchange Act, and Parent
has not received any written notification that the SEC is contemplating terminating such registration. Parent has not, in the
twelve (12) months preceding the date hereof, received written notice from NASDAQ to the effect that Parent is not in compliance
with the listing or maintenance requirements of such market or exchange, and to the knowledge of Parent, Parent has no reason
to believe that it will not in the foreseeable future continue to be in compliance with the listing and maintenance requirements.
Parent is not, and is not an Affiliate of, and immediately after the Closing, will not be or be an Affiliate of, an “investment
company” within the meaning of the Investment Company Act of 1940, as amended.

 

5.9
Brokers. No broker, finder or similar intermediary has acted for or on behalf of the Buyer or Parent in connection with
this Agreement or the transactions contemplated hereby, and no broker, finder, agent or similar intermediary is entitled to any
broker’s, finder’s or similar fee or other commission in connection therewith based on any agreement with the Buyer
or Parent or any action taken by the Buyer or Parent.

 

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5.10
Solvency. No insolvency proceeding of any character, including bankruptcy, receivership, reorganization, composition or
arrangement with creditors, voluntary or involuntary, affecting the Buyer, Parent, any of their assets or properties, is pending
or, to the knowledge of Buyer or Parent, threatened. Neither Buyer nor Parent has taken any action in contemplation of, or that
would constitute the basis for, the institution of any such insolvency proceedings. No obligation is being incurred in connection
with the transactions contemplated by this Agreement with the intent to hinder, delay or defraud either present or future creditors
of Buyer, Parent or any of their respective Affiliates.

 

5.11
Exclusivity of Representations. Except for the representations and warranties contained this Article 5 (as modified
by the Buyer Disclosure Schedules), in the other Transaction Documents and in any certificates being delivered in connection with
the Closing, none of the Buyer or Parent or any other Person has made, makes or shall be deemed to make any other representation
or warranty of any kind whatsoever, express or implied, written or oral, at law or in equity, on behalf of the Buyer or Parent
or any of the Buyer or Parent’s Affiliates, or with respect to the Buyer, Parent, their Affiliates or their respective businesses,
assets, operations, liabilities, condition (financial or otherwise) or prospects, and the Buyer and Parent hereby disclaims all
other representations and warranties of any kind whatsoever, express or implied, written or oral, at law or in equity, whether
made by or on behalf of the Buyer or Parent or any other Person.

 

Article
6

 

COVENANTS

 

6.1
Further Assurances. Following the Closing, each of the parties hereto shall, and shall cause their respective Affiliates
to, execute and deliver such additional documents, instruments, conveyances and assurances and take such further actions as may
be reasonably required to carry out the provisions hereof and give effect to the transactions contemplated by this Agreement and
the other Transaction Documents.

 

6.2
Public Announcements. No party to this Agreement will, and each party shall cause its Affiliates and their respective Representatives
not to, issue or cause the publication of any press release or other public announcement with respect to this Agreement or the
transactions contemplated hereby without the prior written consent of the other party (which consent may not be unreasonably withheld,
conditioned or delayed); provided, however, that nothing herein will prohibit any party from issuing or causing
publication of any such press release or public announcement to the extent that such disclosure is required by applicable Law
or stock exchange requirements, provided, that the other party is provided with the opportunity to review and comment on such
press release or public announcement prior to such issuance or publication, to the extent practicable, and such comments will
be considered in good faith.

 

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6.3
Tax Matters.

 

(a) Computation of Tax Liabilities. Whenever it is necessary to determine the Liability for Taxes for any taxable period
that includes (but does not end on) the Closing Date (a “Straddle Period”) relating to:

 

(i)
Taxes imposed on a periodic basis without regard to income, receipts, sales, purchases or wages (such as real property Taxes or
other ad valorem Taxes), the determination of the Taxes for the portion of the Straddle Period ending on and including and the
portion of the Straddle Period beginning and ending after, the Closing Date shall be calculated by allocating to the periods before
and after the Closing Date pro rata, based on the number of days of the Straddle Period in the period before and ending on the
Closing Date, on the one hand, and the number of days in the Straddle Period in the period after the Closing Date, on the other
hand; and

 

(ii)
Taxes of the Company not described in Section 6.3(a)(i) (such as (A) Taxes based on the income or receipts, (B) Taxes imposed
in connection with any sale or other transfer or assignment of property (including all sales and use Taxes), other than Transfer
Taxes described in Section 6.3(f) and (C) withholding and employment Taxes), the determination of the Taxes for the portion
of the Straddle Period ending on and including, and the portion of the Straddle Period beginning and ending after, the Closing
Date shall be calculated by assuming that the Straddle Period consisted of two (2) taxable periods, one (1) which ended at the
close of the Closing Date and the other which began at the beginning of the day following the Closing Date and items of income,
gain, deduction, loss or credit for the Straddle Period shall be allocated between such two (2) taxable years or periods on a
“closing of the books basis” by assuming that the books of the Company were closed at the close of the Closing Date.

 

(b) Responsibility for Filing Tax Returns. The Buyer shall prepare and file or cause to be prepared and filed all Tax
Returns for the Company relating to Pre-Closing Periods and Straddle Periods that are filed after the Closing Date and, subject
to the satisfaction of Sellers’ obligation to pay Pre-Closing Taxes to the Buyer pursuant to this Section 6.3(b),
shall remit, or cause to be remitted, any Taxes due in respect of such Tax Returns (and any such remittance shall first be deducted
from the Escrow Amount or paid in accordance with Section 7.9). All such Tax Returns shall be prepared in accordance with
applicable Law and in a manner consistent with the prior practice of the Company, unless otherwise required by applicable Law.
To the extent such Tax Returns are income or other material Tax Returns, the Buyer shall provide such Tax Returns to the Seller
Representative for review, comment and consent (such consent not to be unreasonably withheld) no less than thirty (30) days prior
to the Due Date for such Tax Returns, or if the Due Date is within thirty (30) days of the Closing Date, as promptly as practicable
following the Closing Date. No later than three (3) Business Days prior to the earlier of the date any such Tax Return is filed
or the Due Date of such Tax Return, Sellers shall pay to the Buyer any Pre-Closing Taxes due and payable in respect of such Tax
Return. Notwithstanding anything to the contrary in this Agreement, a timely election shall be made under Revenue Procedure 2011-29
to treat seventy percent (70%) of any success-based fees relating to the transactions contemplated hereunder as deductible for
federal income Tax purposes.

 

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(c) Except with the prior written consent of the Seller Representative (such consent not to be unreasonably withheld), or as
otherwise provided by this Agreement, neither Buyer nor any of its Affiliates shall (or shall cause or permit the Company to)
(i) file any Tax Return with respect to the Company in a jurisdiction in which the Company does not presently file Tax Returns
with respect to any taxable period or portion thereof ending on or before the Closing Date, (ii) amend, refile, self-report, or
otherwise modify any Tax Return, or agree to any waiver or extension of the statute of limitations for any period during which
a Tax may be assessed, with respect to any Pre-Closing Period or the portion of any Straddle Period ending on the Closing Date,
(iii) make or change any Tax election with respect to any Pre-Closing Period or the portion of any Straddle Period ending on the
Closing Date, or (iv) initiate any voluntary disclosure or similar process, relating in whole or in part to the Company, with
respect to any Pre-Closing Period or the portion of any Straddle Period ending on the Closing Date.

 

(d) Notwithstanding anything to the contrary herein, all Transaction Tax Deductions shall be allocable to, and reported on,
the Tax Returns of the Company for the Pre-Closing Period (or the portion of any Straddle Period ending on the Closing Date) to
the maximum extent permitted by applicable Law.

 

(e) Cooperation and Records Retention. The Seller Representative and the Buyer shall reasonably cooperate, and shall
cause their respective Affiliates, officers, employees, agents, auditors and representatives reasonably to cooperate, in preparing
and filing all Tax Returns of the Company relating to any Pre-Closing Period or Straddle Period, including maintaining and making
available to each other all records necessary in connection with Taxes of the Company relating to any Pre-Closing Period or Straddle
Period, and in resolving all disputes and audits with respect to all such Pre-Closing Periods or Straddle Periods. The Buyer recognizes
that the Seller Representative may need access, from time to time, after the Closing Date, to certain accounting and Tax records
and information held by the Company to the extent such records and information pertain to events occurring on or prior to the
Closing Date; therefore, the Buyer agrees that from and after the Closing Date, the Buyer shall, and shall cause the Company to,
retain and maintain such records and information until the later of (i) six (6) years following the Closing Date and (ii) the
applicable statute of limitations with respect to the Tax for which such records or information relate, and allow the Seller Representative
(and its Representatives) to inspect, review and make copies of such records information as the respective agents and representatives
of the Sellers reasonably request from time to time during normal business hours and after appropriate prior notification.

 

(f) Transfer Taxes. The Buyer on the one hand and the Sellers on the other shall each pay fifty percent (50%)
of all transfer, sales, use, gains, documentary, stamp, registration and other similar Taxes, and all conveyance fees, recording
charges and other fees and charges imposed as a result of the transactions contemplated by this Agreement (collectively, “Transfer
Taxes”), and any penalties or interest with respect to Transfer Taxes.

 

(g) Tax Proceedings.

 

(i)
The Buyer shall deliver a written notice to the Seller Representative in writing promptly following any demand, claim, or notice
of commencement of a claim, proposed adjustment, assessment, audit, examination or other administrative or court proceeding with
respect to Taxes of the Company for which the Sellers may be reasonably expected to be liable (each, a ”Tax Contest”)
and shall describe in reasonable detail (to the extent known by the Buyer) the facts constituting the basis for such Tax Contest,
the nature of the relief sought and the amount of the claimed Losses (including Taxes), if any (the ”Tax Claim Notice”);
provided, however, that the failure or delay to so notify the Seller Representative shall not relieve the Sellers
of any obligation or liability that the Sellers may have to the Buyer, except to the extent that the Sellers demonstrate that
the Sellers are materially and adversely prejudiced thereby.

 

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(ii) Except as otherwise set forth in this Agreement, with respect to Tax Contests for Taxes of the Company for a Pre-Closing Period,
the Seller Representative may elect to assume and control the defense of such Tax Contest by written notice to the Buyer within
thirty (30) days after delivery by the Buyer to the Seller Representative of the Tax Claim Notice; provided, however,
that the Seller Representative, prior to assuming control of such defense, acknowledge in writing that the Sellers would have
an indemnity obligation hereunder with respect to Losses resulting from such Tax Contest and agree in writing to be fully and
unconditionally responsible for all Losses relating to such Tax Contest; provided, further, that the Seller Representative
shall not be entitled to control (or to retain control of) the defense of such Tax Contest if (x) such Tax Contest has resulted
or would reasonably be expected to result in Losses for which Sellers would not be responsible pursuant to this Agreement or (y)
the Buyer reasonably determines at any time that the resolution of such Tax Contest is reasonably expected to have the effect
of increasing the Tax Liability of the Buyer or any of its Affiliates (including the Company) for any period (or portion of any
period) beginning after the Closing Date. If the Seller Representative elects to assume and control the defense of such Tax Contest,
the Sellers (A) shall bear their own costs and expenses, (B) shall be entitled to engage their own counsel and (C) may (1) pursue
or forego any and all administrative appeals, proceedings, hearings and conferences with any Taxing Authority, (2) either pay
the Tax claimed or sue for refund where applicable law permits such refund suit or (3) contest, settle or compromise the Tax Contest
in any permissible manner; provided, however, that the Seller Representative shall not settle or compromise (or
take other actions described herein with respect to) any Tax Contest without the prior written consent of the Buyer (not to be
unreasonably withheld). If the Seller Representative elects to assume the defense of any such Tax Contest, the Seller Representative
shall (x) keep the Buyer reasonably informed of all material developments and events relating to such Tax Contest (including promptly
forwarding copies to the Buyer of any related correspondence, and shall provide the Buyer with an opportunity to review and comment
on any material correspondence before the Sellers send such correspondence to any Taxing Authority), (y) consult with the Buyer
in connection with the defense or prosecution of any such Tax Contest and (z) provide such cooperation and information as the
Buyer shall reasonably request, and the Buyer shall have the right to participate in (but not control) the defense of such Tax
Contest (including participating in any discussions with the applicable Taxing Authorities regarding such Tax Contests).

 

(iii) Notwithstanding anything to the contrary set forth in this Agreement, in connection with any Tax Contest that relates
to Taxes of the Company for a Pre-Closing Period that (A) the Seller Representative does not timely and properly elect to control
(or cannot elect to control or loses its right to control) pursuant to Section 6.3(g)(ii) or (B) the Seller Representative
fails to diligently defend, such Tax Contest shall be controlled by the Buyer (and the Sellers shall reimburse the Buyer for all
reasonable costs and expenses incurred by the Buyer related to a Tax Contest described in this Section 6.3(g)(iii)) and
the Sellers agree to cooperate with the Buyer in pursuing such Tax Contest. In connection with any Tax Contest that is described
in this Section 6.3(g)(iii) and controlled by the Buyer, the Buyer shall be entitled to (1) pursue or forego any and all
administrative appeals, proceedings, hearings and conferences with any Taxing Authority, (2) either pay the Tax claimed or sue
for refund where applicable law permits such refund suit, or (3) contest, settle or compromise the Tax Contest in any permissible
manner; provided, however, that the Buyer shall not settle or compromise (or take other actions described herein with respect
to) any Tax Contest without the prior written consent of the Seller Representative (such consent not to be unreasonably withheld).
To the extent the Buyer is entitled to control any Tax Contest that is described in this Section 6.3(g)(iii) solely by
reason of clause (x) or (y) in Section 6.3(g)(ii), the Buyer shall (x) keep the Seller Representative reasonably informed
of all material developments and events relating to such Tax Contest (including promptly forwarding copies to the Seller Representative
of any related correspondence, and shall provide the Seller Representative with an opportunity to review and comment on any material
correspondence before the Buyer sends such correspondence to any Taxing Authority), (y) consult with the Seller Representative
in connection with the defense or prosecution of any such Tax Contest and (z) provide such cooperation and information as the
Seller Representative shall reasonably request, and the Seller Representative shall have the right to participate in (but not
control) the defense of such Tax Contest (including participating in any discussions with the applicable Taxing Authorities regarding
such Tax Contests).

 

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(iv)
In connection with any Tax Contest for Taxes of the Company for any Straddle Period, such Tax Contest shall be controlled by the
Buyer. The Buyer shall (A) keep the Seller Representative informed of all material developments and events relating to such Tax
Contest (including promptly forwarding copies to the Seller Representative of any related correspondence and shall provide the
Seller Representative with an opportunity to review and comment on any material correspondence before the Buyer sends such correspondence
to any Taxing Authority), (B) consult with the Seller Representative in connection with the defense or prosecution of any such
Tax Contest and (C) provide such cooperation and information as the Seller Representative shall reasonably request, and, at their
own costs and expenses, the Seller Representative shall have the right to participate in (but not control) the defense of such
Tax Contest (including participating in any discussions with the applicable Taxing Authority regarding such Tax Contests). In
connection with any Tax Contest that is described in this Section 6.3(g)(iv) and controlled by the Buyer, the Buyer shall
be entitled to (1) pursue or forego any and all administrative appeals, proceedings, hearings and conferences with any Taxing
Authority, (2) either pay the Tax claimed or sue for refund where applicable law permits such refund suit, or (3) contest, settle
or compromise the Tax Contest in any permissible manner; provided, however, that the Buyer shall not settle or compromise
(or take other actions described herein with respect to) any Tax Contest without the prior written consent of the Seller Representative
(such consent not to be unreasonably withheld).

 

(v) Notwithstanding anything to the contrary contained in this Agreement, the procedures for all Tax Contests shall be governed
exclusively by this Section 6.3(g).

 

(h) Pre-Closing Refunds. The Buyer shall pay (or cause to be paid) to the Sellers: (i) any refund (or credit in lieu
thereof to the extent such credit actually reduces Taxes for a Tax period that begins after the Closing Date) of Taxes paid by
the Company for any Pre-Closing Period actually received by the Company or (ii) the portion of any refund (or credit in lieu thereof
to the extent such credit actually reduces Taxes for a Tax period that begins after the Closing Date) of Taxes paid by the Company
for any Straddle Period (to the extent allocable to the portion of such Straddle Period ending on the Closing Date pursuant to
Section 6.3(a)) actually received by the Company, in each case, net of any Tax Liabilities or increase in Tax Liabilities
imposed on Buyer or its Affiliates (including the Company) resulting from such refund or credit; provided, however,
that the Sellers shall not be entitled to any such refund or credit: (x) resulting from the carryback of a Tax attribute from
any period ending after the Closing Date; (y) that is required to be paid over by the Company to any Person under any provision
of any contract to which such Person was a party prior to the Closing Date; or (z) resulting from the payment of Taxes by Buyer
or its Affiliates (including the Company) made after the Closing Date to the extent that Buyer was not previously indemnified
or otherwise reimbursed by the Sellers for such Taxes. To the extent the Sellers receive any amount to which it is not entitled
pursuant to this Section 6.3(h), the Sellers shall promptly pay (or cause to be paid) to Buyer (or the Company) all such
amounts (including interest with respect thereto).

 

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6.4
Release.

 

(a) Effective as of the Closing, each of the Sellers on behalf of themselves and each of their respective Related Parties,
successors and assigns (collectively, the “Releasing Parties”), hereby unconditionally release and discharge
the Company and its Related Parties, successors and assigns and Buyer and Parent and their respective Related Parties, successors
and assigns (collectively, the “Released Parties”) from any and all claims, demands, rights, actions, suits,
proceedings, liabilities, obligations and causes of action of any kind and nature whatsoever, fixed or contingent, known or unknown,
liquidated or unliquidated, that any Releasing Party ever had or now has or hereafter can, shall or may have arising out of the
organization, management, ownership or operation of the businesses of the Company prior to the Closing Date (including, without
limitation, as a result of or in connection with the Company Notes); provided, however, that nothing contained in
this Agreement shall release, waive, discharge, relinquish or otherwise affect the rights or obligations of any party to the extent
arising out of or in relation to (i) claims involving criminal conduct or fraud, (ii) existing Contracts or employment relationships
or arrangements (other than Company Notes), or (iii) this Agreement and the documents and transactions contemplated hereby.

 

(b) Each Releasing Party is aware that it may hereafter discover facts in addition to or different from those it now knows
or believes to be true with respect to the subject matter of the release provided for in this Section 6.4; provided,
however, it is the intention of each Releasing Party that such release shall be effective as a full and final accord and
satisfactory release of each and every matter specifically or generally referred to in this Section 6.4. In furtherance
of this intention, each Releasing Party expressly waives and relinquishes any and all claims, rights or benefits that it may have
under Section 1542 of the California Civil Code (“Section 1542”), and any similar provision in any other jurisdiction,
which provides as follows:

 

“A
GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME
OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.”

 

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Each
Releasing Party acknowledges and agrees that Section 1542, and any similar provision in any other jurisdiction, if they exist,
are designed to protect a party from waiving claims which it does not know exist or may exist. Nonetheless, each Releasing Party
agrees that the waiver of Section 1542 and any similar provision in any other jurisdiction is a material portion of the releases
intended by this Section 6.4, and it therefore intends to waive all protection provided by Section 1542 and any other similar
provision in any other jurisdiction. EACH RELEASING PARTY FURTHER ACKNOWLEDGES AND AGREES THAT IT IS AWARE THAT IT MAY HEREAFTER
DISCOVER CLAIMS OR FACTS IN ADDITION TO OR DIFFERENT FROM THOSE IT NOW KNOWS OR BELIEVES TO BE TRUE WITH RESPECT TO THE MATTERS
RELEASED HEREIN. NEVERTHELESS, IT INTENDS TO FULLY, FINALLY AND FOREVER RELEASE ALL SUCH MATTERS, AND ALL CLAIMS RELATIVE THERETO,
WHICH DO NOW EXIST, MAY EXIST, OR HERETOFORE HAVE EXISTED BETWEEN SUCH PARTY, ON THE ONE HAND, AND ANY EQUITYHOLDER, ANY EQUITYHOLDER
RELATED PARTY OR THE COMPANY UNDER THIS SECTION 6.4 (RELEASE), ON THE OTHER HAND. IN FURTHERANCE OF SUCH INTENTION, THE
RELEASES GIVEN HEREIN SHALL BE AND REMAIN IN EFFECT AS FULL AND COMPLETE GENERAL RELEASES OF ALL SUCH MATTERS, NOTWITHSTANDING
THE DISCOVERY OR EXISTENCE OF ANY ADDITIONAL OR DIFFERENT CLAIMS OR FACTS RELATIVE THERETO.

 

6.5
Confidentiality. Effective upon the Closing, each Seller will, and will cause its Affiliates to, treat and hold as confidential,
and shall not use or disclose (a) any confidential documents and information concerning the Buyer, or any of its Affiliates, furnished
to it by the Buyer or its Representatives in connection with this Agreement or the transactions contemplated hereby that is not
or does not become confidential, and (b) any confidential information regarding the Company, including trade secrets, know-how
or confidential information of the Company (such information in clause (b), the “Confidential Information”).
In the event that such Seller or any of its Affiliates, is requested or required (by oral question or request for information
or documents in any Proceeding, interrogatory, subpoena, civil investigative demand or similar process) to disclose any Confidential
Information, such Seller shall use commercially reasonable efforts to promptly notify the Buyer of the request or requirement
so that Buyer may seek, at its sole cost and expense, an appropriate protective order or waive compliance with the provisions
of this Section 6.5. If, in the absence of a protective order or the receipt of a waiver hereunder, such Seller is, on
the advice of counsel, legally required to disclose any such information, such Seller may disclose such information to the requesting
authority; provided, however, that such Seller shall use commercially reasonable efforts to obtain, at the reasonable
request of the Buyer and at the Buyer’s sole cost, an order or other assurance that confidential treatment will be accorded
to such portion of the information required to be disclosed as the Buyer shall designate in good faith.

 

6.6
Non-Competition; Non-Solicitation.

 

(a) For a period of three (3) years commencing on the Closing Date (the “Restricted Period”), the Sellers
shall not, and shall not permit any of their respective Affiliates to, and for a period of one (1) year with respect to the Company’s
officers and employees (other than Sellers or their Affiliates)) and their respective Affiliates shall not, directly or indirectly,
(i) engage in or assist others in engaging in the Restricted Business anywhere in the world; (ii) have an interest in any Person
that engages directly or indirectly in the Restricted Business in any capacity, including as a partner, shareholder, member, employee,
principal, agent, trustee or consultant; or (iii) intentionally interfere in any material respect with the business relationships
(whether formed prior to or after the date hereof) between the Company and any customers or suppliers of the Company. Notwithstanding
the foregoing, each of the Sellers may own, directly or indirectly, solely as a passive investment, securities of any Person traded
on any national securities exchange if the Sellers are not a controlling Person of, or a member of a group which controls, such
Person and does not, directly or indirectly, own 5% or more of any class of securities of such Person.

 

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(b) The Sellers shall not, and shall not permit any of their Affiliates to, directly or indirectly, hire or solicit any employee,
independent contractor, or consultant of the Company or encourage any such Person to leave such capacity or hire any such Person
who has left such capacity; provided, however, that the Seller’s may solicit and hire any Person who responds
to any general solicitation which is not directed specifically to any such Person (or such Persons in general); provided,
further, that, following the date that is one (1) year after the date hereof, the Sellers may solicit and hire any Person
who is no longer employed by the Company (or its Affiliates) and has not been an employee of the Company for at least three (3)
months prior to such solicitation.

 

(c) During the Restricted Period, the Sellers and Company officers shall not, and shall not permit any of their Affiliates
to, directly or indirectly, (i) solicit, entice, divert, or take away, or attempt to solicit, entice, divert or take away, any
current clients, customers, vendors, suppliers or any other Person who has established a business relationship with the Company
for purposes of diverting their business or services from the Company, or (ii) take any action that is designed or intended to
have the effect of discouraging any existing suppliers, vendors, customers, employees or contractors of the Company from maintaining
the same business relationship with the Company after the Closing Date as it maintained with the Company prior to the Closing
Date.

 

(d) During the Restricted Period, the parties shall refrain from, and shall cause their respective Affiliates and Representatives
to refrain from, in any manner, directly or indirectly, all conduct, oral or otherwise, that disparages or damages or could disparage
or damage the reputation, goodwill, or standing in the community of the other parties hereto, or any of their respective Affiliates
and Representatives.

 

(e) The parties acknowledge that a breach or threatened breach of this Section 6.6 would give rise to irreparable
harm to the Buyer or the other parties, as the case may be, for which monetary damages would not be an adequate remedy, and hereby
agree that in the event of a breach or a threatened breach by the Sellers of any such obligations, the Buyer or the other affected
parties, as the case may be, 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, specific performance
and any other relief that may be available from a court of competent jurisdiction (without any requirement to post bond). In the
event of a violation or breach by the Sellers, any Affiliate of the Sellers, or any Related Party of the Sellers, of any agreement
set forth in this Section 6.6, the term of the Restricted Period shall be extended by a period equal to the duration
of such violation or breach.

 

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(f) The Sellers hereby acknowledge that the geographic boundaries, scope of prohibited activities and the duration of
the provisions of this Section 6.6 are reasonable and are no broader than are necessary to protect the legitimate
business interests of the Buyer, including the ability of the Buyer to realize the benefit of its bargain under this Agreement
and to enjoy the goodwill of the Company, and that such restrictions constitute a material inducement to the Buyer to enter into
this Agreement and consummate the transactions contemplated by this Agreement. In the event that any covenant contained in this
Section 6.6 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. The covenants contained in this Section 6.6 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.

 

(g) For Tax purposes, the parties hereto agree that (i) no separate consideration is being paid in exchange for the covenants
provided under this Section 6.6, and (ii) no tax deduction can be claimed with respect thereto. The parties agree to file
all Tax Returns consistently with the preceding sentence unless otherwise required by a “determination” within the
meaning of Section 1313 of the Code (or a comparable provision of state or local Tax Law).

 

6.7
Books and Records.

 

(a)  From and after the Closing, in connection with any reasonable, non-competitive purpose (excluding any subject matter of
any Proceeding between any of the parties hereto) and subject to any reasonable confidentiality restrictions the disclosing party
may require, each party shall, and shall cause each of its respective Affiliates to, provide the other parties hereto and their
respective Representatives with reasonable access after reasonable notice and so as not to unreasonably interfere with the operation
of such party’s respective business (for the purpose of examining and copying), during normal business hours, to the books,
records, files, designs, specifications, customer lists, supplier lists, information, reports, correspondence, literature and
other sales material, computer software, and other data and similar materials relating to the assets, liabilities or the conduct
or operation of the Company (excluding the Financial Statements) (all such materials, the “Books and Records”)
with respect to periods or Occurrences prior to the Closing Date in connection with any matter, as reasonably necessary for accounting
or Tax matters or other Proceedings, relating to or arising out of this Agreement or the transactions contemplated hereby.

 

(b) Notwithstanding anything to the foregoing, no Person shall be obligated to provide (i) access or information that would
result in the violation of any applicable Laws, or (ii) information the disclosure of which would jeopardize an applicable privilege
(including attorney-client privilege).

 

6.8
Company D&O Tail Policy. Prior to the Closing Date, the Sellers shall cause the Company to purchase, at its own cost
and expense, a non-cancelable run-off “tail” insurance policy of not less than the existing coverage amount, for a
period of six (6) years after the Closing Date to provide insurance coverage for events, acts or omissions occurring on or
prior to the Closing Date for all persons who were directors, managers or officers of the Company on or prior to the Closing Date,
which policy shall contain terms and conditions no less favorable to the insured persons than the directors’, managers’
or officers’ liability coverage presently maintained by the Company.

 

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6.9
Inventory Count. Sellers agree that the Company shall, and shall assist the Company to at their own cost, conduct a physical
count of all of its Inventory within thirty (30) days after the Closing Date and shall provide evidence of the same and corresponding
results in the form reasonably satisfactory to Buyer and Parent.

 

6.10
Employment Agreement. Promptly after the Closing Date, and in any event within ten (10) days after the Closing Date, John
Semmelhack agrees, and the other Sellers and the Company shall cause John Semmelhack, to enter into an employment agreement with
the Company on such terms as are reasonably acceptable to him and the Company comparable with his current employment arrangements
with the Company (the “Employment Agreement”).

 

6.11
Release of SBA Loan Escrow Amount. After the Closing Date, (i) if the Company SBA Loan is fully forgiven by the SBA, the
amount of the Company SBA Loan placed in the PPP Escrow by NH Group, LLC shall be released to NH Group, LLC, and (ii) if the Company
SBA Loan is not fully forgiven by the SBA, the amount of the Company SBA Loan placed in the PPP Escrow by NH Group, LLC not forgiven
shall be released to BMO Harris, and the balance released to NH Group, LLC, in each case in accordance with the terms of the applicable
escrow agreement.

 

6.12. Transition Services. For a period commencing as of the Closing Date and ending on the date that is sixty (60) days
thereafter, to facilitate an orderly transition of financial controls and services of the Company from Sellers to Buyer, Sellers
shall, and/or shall cause their Affiliates to, upon request from Buyer from time to time and at Sellers’ expense, use commercially
reasonable efforts to provide certain financial, bookkeeping and accounting services (including, without limitation, the services
of Caitlin Owens) (and such other services as may be reasonably required for the Company by the Buyer) to Buyer and the Company;
provided, that Sellers make no representations and warranties of any kind, implied or expressed, with respect to such services,
and disclaim any warranty of any kind or nature whatsoever, including warranties of merchantability or fitness for a particular
purpose; provided, further, that Sellers agree to act in good faith with respect to their agreements in this Section. Buyer acknowledges
and agrees that this Agreement does not create a fiduciary relationship, partnership, joint venture or relationships of trust
or agency between the Parties and that all such services provided by Sellers are provided in their capacity as independent contractors.
Buyer shall use commercially reasonable efforts to transition the performance of any such services described in this Section to
its own internal organization or to obtain third-party sources to provide such services.

 

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Article
7

 

INDEMNIFICATION

 

7.1
Survival. The representations and warranties of the parties (other than the Fundamental Representations) contained in this
Agreement shall survive until the date that is the longer of twelve (12) months following the Closing (or, if longer, ninety (90)
days after the completion of the first audit of the Company following the Closing); provided, however, that (a)
the Fundamental Representations (other than the representations and warranties set forth in Section 4.11 (Taxes)) shall
survive for a period of twenty-four (24) months following the Closing and (b) the representations and warranties set forth in
Section 4.11 (Taxes), shall survive until the date of the expiration of the applicable statute of limitations (including
all periods of extension, whether automatic or permissive). Each of the covenants and agreements set forth in this Agreement shall
survive the Closing Date in accordance with their terms; provided, however, that to the extent no term is specified,
all covenants (other than the covenants set forth in Section 6.3) shall survive for the applicable statute of limitations
plus sixty (60) days provided, further, that the covenants and agreements set forth in Section 6.3
and the indemnity for Pre-Closing Taxes set forth in Section 7.2(a)(iii) shall survive the Closing until the expiration
of the statute of limitations (taking into account extensions) relating to the applicable Tax Return or Pre-Closing Tax, plus
sixty (60) days. If any party hereto asserts a valid claim for indemnification, in good faith, prior to the expiration of the
applicable survival period for any breach thereof, such claims shall survive until finally resolved. It is the express intent
of the parties that, if the applicable survival period for a representation or warranty or covenant as contemplated by this Section
7.1 is different than the statute of limitations period that would otherwise have been applicable to such representation or
warranty or covenant, then by virtue of this Agreement, the applicable statute of limitations period with respect to such representation
or warranty or covenant shall be revised to the survival period contemplated by this Section 7.1. The parties acknowledge
and agree that the time period set forth in this Section 7.1 for the assertion of claims under this Agreement is the result
of arm’s-length negotiations among the parties and that they intend for such time period to be enforced as agreed among
the parties.

 

7.2
Indemnification.

 

(a) Indemnification by the Sellers. Subject to the limitations set forth herein, the Sellers shall jointly and severally
indemnify and hold harmless the Buyer and its Affiliates and Representatives (each, a “Buyer Indemnified Party”)
from and against and in respect of any and all losses, Liabilities, expenses of whatever kind (including reasonable attorneys’
fees and accounting fees and the cost of enforcing any right to indemnification hereunder), claims, suits, actions, judgments,
damages, deficiencies, interest, awards, penalties, and fines (collectively, “Losses”) arising from, based
upon or otherwise in connection with any:

 

(i)
inaccuracy or breach of any representation or warranty of the Company or the Sellers contained in Article 3 and Article
4 or in any certificate delivered in accordance herewith;

 

(ii)
breach or nonfulfillment of any covenant or agreement of the Sellers that is required to be performed pursuant to this Agreement
or any Transaction Document after the Closing;

 

(iii) Pre-Closing Taxes; and

 

(iv)
Excluded Liabilities.

 

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(b) Indemnification by the Buyer and Parent. Subject to the limitations set forth herein, from and after the Closing,
the Buyer and Parent, jointly and severally, hereby agree to indemnify and hold harmless the Sellers and their Representatives
(each, a “Seller Indemnified Party,” and together with the Buyer Indemnified Parties, the “Indemnified
Parties”), from and against any Losses arising from or in connection with any:

 

(i)
inaccuracy or breach of any representation or warranty of the Buyer or Parent contained in Article 5 or in any certificate
delivered in accordance herewith; and

 

(ii)
breach or nonfulfillment of any covenant or agreement of the Buyer or Parent or the Company that is required to be performed pursuant
to this Agreement after the Closing.

 

7.3
Limitations on Indemnification.

 

(a) Except in the case of fraud or with respect to breaches of the Fundamental Representations (i) in no event shall the Indemnifying
Parties be required to indemnify, defend or hold harmless any Indemnified Party against, or reimburse any such Indemnified Party
for, any Losses pursuant to Section 7.2(a)(i) or 7.2(b)(i), as applicable, until the aggregate amount of each of the Buyer
Indemnified Parties’ and the Seller Indemnified Parties’ Losses exceeds an amount equal to $50,000 (the “Basket
Amount”), it being understood that if such Losses exceed the Basket Amount, the Indemnified Parties shall be entitled
to recover all such Losses from the first dollar, and (ii) in no event shall the cumulative indemnification obligations of the
Sellers in the aggregate pursuant to Section 7.2(a)(i) or the Buyer in the aggregate pursuant to Section 7.2(b)(i),
in each case, exceed the Escrow Amount.

 

(b)
 Except in the case of fraud:

 

(i)
the Sellers, in the aggregate, shall not be required to indemnify, defend or hold harmless any Buyer Indemnified Party against,
or reimburse any Buyer Indemnified Party for, any Losses pursuant to Section 7.2(a) to the extent that the aggregate amount
of such Losses exceeds an amount equal to the Final Aggregate Consideration;

 

(ii)
the Sellers, individually, shall not be required to indemnify, defend or hold harmless any Buyer Indemnified Party against, or
reimburse any Buyer Indemnified Party for, any Losses pursuant to Section 7.2(a) for any amount in excess of an amount
equal to each Seller’s Pro Rata Percentage of the Final Aggregate Consideration; and

 

(iii)
the Buyer or Parent or their respective Affiliates shall not be required to indemnify, defend or hold harmless any Seller
Indemnified Party against, or reimburse any Seller Indemnified Party for, any Losses pursuant to Section 7.2(b) to the
extent that the aggregate amount of such Losses exceeds an amount equal to the Final Aggregate Consideration.

 

(c) No Indemnified Party shall be entitled to recover any Loss to the extent that the amount of such Loss has been expressly
included in the calculation of Closing Working Capital.

 

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(d) For purposes of determining the amount of any Losses that are the subject matter of a claim for indemnification hereunder
(but not for determining whether there has been a breach), each representation and warranty in this Agreement and each certificate
delivered pursuant hereto will be read without regard and without giving effect to the term “material” or “Material
Adverse Effect” or similar phrases contained in such representation or warranty the inclusion of which has the effect of
making such representation or warranty less restrictive (as if such word were deleted from such representation and warranty).

 

(e) The amount of any Loss for which indemnification is provided under this Article 7 shall be reduced by any amounts
actually recovered by any Indemnified Party under insurance policies with respect to such Loss (less any costs of collection and
increases in premium) (which Buyer shall use commercially reasonable efforts to collect). To the extent that any amount is recovered
by any Indemnified Party under an insurance policy or any other source of indemnification after the date that an indemnity payment
is made hereunder, then such Indemnified Party shall pay over to the Indemnifying Party such amounts (less any costs of collection
and increases in premium) no later than ten (10) Business Days after such proceeds are received.

 

7.4
Indemnification Claim Process for Third Party Claims.

 

(a) If any Indemnified Party receives notice of the assertion of any claim for Losses or the commencement of any Proceeding
by a third party with respect to a matter subject to indemnity hereunder (a “Claim”), notice thereof (a “Third
Party Claim Notice”) shall promptly be given to the Indemnifying Party (any notice given to the Sellers shall be given
to the Seller Representative). The failure of any Indemnified Party to give timely notice hereunder shall not affect such Indemnified
Party’s rights to indemnification hereunder, except to the extent the Indemnifying Party forfeits rights or defenses by
reason of such delay or failure, and the amount of reimbursement to which the Indemnified Party is entitled shall be reduced by
the amount, if any, by which the Indemnified Party’s Losses would have been less had such Third Party Claim Notice been
timely delivered. After receipt of a Third Party Claim Notice, if (x) the Indemnifying Party produces a notice of election within
thirty (30) days of receiving the Third Party Claim Notice, and (y) acknowledges in writing that it would be required to indemnify
the Indemnifying Party for Losses in connection with such Third Party Claim Notice, the Indemnifying Party shall have the right,
but not the obligation to (i) take control of the defense and investigation of such Claim, (ii) employ and engage attorneys of
its, his or her own choice (subject to the approval of the Indemnified Party, such approval not to be unreasonably withheld, conditioned
or delayed) to handle and defend the same, at the Indemnifying Party’s sole cost and expense, and (iii) compromise or settle
such Claim, which compromise or settlement shall be made only with the written consent of the Indemnified Party; provided,
that such consent will not be required if such settlement includes an unconditional release of the Indemnified Party and provides
solely for payment of monetary damages for which the Indemnified Party will be indemnified in full. Notwithstanding the foregoing,
if the Indemnifying Party is any of the Sellers, the Indemnifying Party will not have the right to assume the defense of a Claim
if (1) the Indemnifying Party fails to actively and diligently conduct the defense of the Claim (after notice and reasonable opportunity
to cure), (2) Indemnified Party has received written advice from outside counsel that an actual or potential conflict exists between
the Indemnified Party and the Indemnifying Party in connection with the defense of such Claim other than in connection with the
indemnification obligations hereunder, (3) such Claim seeks a finding or admission of a violation of any criminal Law by the Indemnified
Party, or (4) such Claim seeks an injunction or other equitable remedies in respect of the Indemnified Parties or its business.

 

    - 56 -

     

    

 

(b) In the event that the Indemnifying Party defends the Indemnified Party against a Claim, the Indemnified Party shall cooperate
in all reasonable respects, at the Indemnifying Party’s request, with the Indemnifying Party and its attorneys in the investigation,
trial and defense of such Claim and any appeal arising therefrom, including, if appropriate and related to such Claim, in making
any counterclaim against the third party claimant, or any cross complaint against any Person, in each case, at the expense of
the Indemnifying Party. The Indemnified Party may, at its own sole cost and expense, monitor and further participate in (but not
control) the investigation, trial and defense of such Claim and any appeal arising therefrom.

 

(c) Notwithstanding anything to the contrary herein, if the Indemnifying Party does not assume such defense and investigation
or does not acknowledge in writing within a reasonable period, but no later than thirty (30) days, after receipt of the Third
Party Claim Notice its obligation to indemnify the Indemnified Party against any Losses arising from such Claim, then the Indemnified
Party shall have the right to retain separate counsel of its choosing, defend such Claim and have the sole power to direct and
control such defense (all at the cost and expense of the Indemnifying Party if it is ultimately determined that the Indemnified
Party is entitled to indemnification hereunder); it being understood that the Indemnified Party’s right to indemnification
for a Claim shall not be adversely affected by assuming the defense of such Claim. Notwithstanding anything herein to the contrary,
whether or not the Indemnifying Party shall have assumed the defense of such Claim, the Indemnified Party shall not settle, compromise
or pay such Claim for which it seeks indemnification hereunder without the prior written consent of the Indemnifying Party, which
consent shall not be unreasonably withheld, conditioned or delayed.

 

(d) The Indemnified Party and the Indemnifying Party shall use commercially reasonable efforts to avoid production of confidential
information (consistent with Law), and to cause all communications among employees, counsel and others representing any party
to a Claim to be made so as to preserve any applicable attorney-client or work-product privileges.

 

(e) Notwithstanding this Section 7.4, Section 6.3(g) shall exclusively govern any and all Tax Contests (and not
this Section 7.4).

 

7.5
Indemnification Procedures for Non-Third Party Claims. If a Claim is to be made by any Indemnified Party that does not
involve a third party, such Indemnified Party shall give written notice (a “Direct Claim Notice”) to the Indemnifying
Party (if notice is to be given to the Sellers, than such notice is to be given to the Seller Representative). If the applicable
Indemnifying Party notifies the Indemnified Party that they do not dispute the claim described in such Direct Claim Notice within
thirty (30) days following receipt of such Direct Claim Notice, the Losses identified in the Direct Claim Notice will be conclusively
deemed a Liability of the Indemnifying Party under Section 7.2(a) or Section 7.2(b), as applicable. If
the Indemnifying Party rejects such claim or fails to respond during such thirty (30) day period (in which case the Indemnifying
Party shall be deemed to have rejected such claim) the parties shall negotiate in good faith for a period of thirty (30) days
to resolve such matter. If the parties cannot resolve the dispute during such thirty (30) day period they shall have all rights
and remedies available to them under applicable Law.

 

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7.6
Exclusive Remedy. Except (a) in the case where a party seeks to obtain specific performance, injunctive relief or other
equitable relief, (b) for the purchase price adjustment dispute procedures set forth in Section 2.4, and (c) in the case
of fraud, the rights of the parties to indemnification pursuant to the provisions of this Article 7 shall be the sole and
exclusive remedy for the parties hereto with respect to this Agreement.

 

7.7
Tax Treatment of Indemnity Payments. Unless otherwise required by applicable Law, any indemnity payment made under this
Agreement shall be treated by all parties as an adjustment to the Final Aggregate Consideration for all federal, state, local
and foreign Tax purposes.

 

7.8
Escrow. Promptly following the date that is twelve (12) months after the Closing Date (the “Release Date”),
the Buyer and the Seller Representative shall cause the Escrow Agent to pay to the Sellers or the Seller Representative on each
of their behalf, any portion of the Escrow Amount remaining in the Escrow Account, less any amounts that are subject to pending
claims made by any Buyer Indemnified Party under this Article 7 prior to 11:59 p.m. Pacific Time on the Release Date. If
any claim made by any Buyer Indemnified Party under this Article 7 is still pending as of the Release Date, the Escrow
Agent, pursuant to the terms of the Escrow Agreement, will retain a portion of the Escrow Amount in an amount equal to the Losses
identified in any unresolved notice delivered pursuant to the Escrow Agreement until such claim has been satisfied or otherwise
resolved, at which point the Buyer and the Seller Representative shall jointly instruct the Escrow Agent to pay to the Seller
Representative, for further distribution to the Sellers any remaining balance of the Escrow Amount not used to satisfy the indemnification
rights of the Buyer Indemnified Party under this Article 7.

 

7.9
Payments. The Indemnifying Party shall pay or cause to be paid to the Indemnified Party any Losses subject to indemnification
hereunder, subject in each case to the limitations set forth in this Article 7, within five (5) Business Days following
the final determination that such payment is due to such Indemnified Party. All indemnification claims pursuant to this Agreement
shall be paid to the Indemnified Party in Parent Stock which shall be deemed to be at the Parent Stock Share Price regardless
of the time of such indemnity payments, and, if payments are to be made by the Sellers, then such payments shall first be deducted
from the Escrow Amount, and thereafter be made directly by the Sellers in accordance with the Distribution Schedule, subject to
the limitations set forth herein (upon joint written instruction for release to Buyer by the Seller Representative and the Buyer),
and, if payments are to be made by the Buyer or Parent, then Buyer or Parent shall issue such additional shares of Parent stock
to the Sellers in the amount equal to such indemnification payment.

 

Article
8

 

MISCELLANEOUS

 

8.1
Expenses. Except as expressly provided herein, all costs and expenses incurred in connection with the preparation, negotiation
and execution and performance of this Agreement and the transactions contemplated hereby (including legal, accounting and advisory
fees and expenses) shall be paid by the party incurring such costs and expenses.

 

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8.2
Amendment. This Agreement may not be amended except by an instrument in writing signed on behalf of each of the parties
hereto.

 

8.3
Entire Agreement. This Agreement, including the Schedules and Exhibits attached hereto which are deemed for all
purposes to be part of this Agreement, and the other Transaction Documents contemplated hereby, contain all of the terms, conditions
agreed upon or made by the parties relating to the subject matter of this Agreement and the businesses and operations of the Company,
and supersede all prior and contemporaneous understandings, agreements, negotiations, correspondence, undertakings and communications
of the parties or their Representatives, oral or written, respecting such subject matter.

 

8.4
Headings. The headings contained in this Agreement are intended solely for convenience and shall not affect the rights
of the parties to this Agreement.

 

8.5
Notices. Any notice or other communication required or permitted under this Agreement shall be deemed to have been duly
given and made (a) if in writing and served by personal delivery upon the party for whom it is intended, (b) if delivered
by facsimile with receipt confirmed, or (c) if delivered by certified mail, registered mail, courier service, return-receipt
received to the party at the address set forth below, with copies sent to the Persons indicated; or (d) as of the date received
for electronic mail sent before 5:00 P.M. Pacific Time, and (e) on the day following receipt for electronic mail sent after 5:00
P.M. Pacific Time:

 

If
to the Sellers or the Seller Representative:

 

Scott
R. Norman

4100
Mountain View Avenue

Chattanooga,
Tennessee 37415

Email:
arsscott@aol.com

 

With
a copy to (which copy shall not constitute notice):

 

Gearhiser,
Peters, Elliott & Cannon, PLLC

320
McCallie Avenue

Chattanooga,
Tennessee 37402

Attention:
R. Wayne Peters

Facsimile:
(423) 266-1605

Email:
wpeters@gearhiserpeters.com

 

If
to the Buyer or Parent:

 

LiveXLive
Media, Inc.

9200
Sunset Boulevard, Suite 1201

West
Hollywood, CA 90069

Attention:
CEO

E-mail:
rob@livexlive.com

 

    - 59 -

     

    

 

With
a copy to (which copy shall not constitute notice):

 

Foley
Shechter Ablovatskiy LLP

1359 Broadway, Suite 2001

New York, NY 10018

Attention: Sasha Ablovatskiy

Facsimile: (212) 355-0466

 

Email:
sablovatskiy@foleyshechter.com

 

Such
addresses may be changed, from time to time, by means of a notice given in the manner provided in this Section 8.5.

 

8.6
Exhibits and Schedules.

 

(a) The Schedules and Exhibits hereto are hereby incorporated into this Agreement and are hereby made a part hereof
as if set out in full in this Agreement.

 

(b) Any matter, information or item disclosed in the Schedules Article 3 or Article 4 delivered under any specific
Section of Article 3 or Article 4, shall be deemed to have been disclosed in response to each other representation
or warranty in Article 3 or Article 4 in respect of which such disclosure is reasonably apparent on its face, notwithstanding
the omission of an appropriate cross-reference. Any item of information, matter or document disclosed or referenced in, or attached
to, the Schedules hereto shall not (i) be deemed or interpreted to expand the scope of the Sellers’ or the Company’s
representations or warranties contained in Article 3 or Article 4 (except as otherwise contemplated by such representation
or warranties), or (ii) constitute, or be deemed to constitute, an admission to any third party concerning such item or matter.
Except as set forth in Article 3 or Article 4, no reference in the Schedules to any Contract or document shall be
construed as an admission or indication that such Contract or document is enforceable or currently in effect or that there are
any obligations remaining to be performed or any rights that may be exercised under such Contract or document.

 

8.7
Waiver. A waiver of any term or condition of this Agreement by any party shall only be effective if in writing and shall
not be construed as a waiver of any subsequent breach or failure of the same term or condition, or a waiver of any other term
or condition of this Agreement.

 

8.8
Binding Effect; Assignment. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and
their permitted successors and assigns. No party to this Agreement may assign or delegate, by operation of law or otherwise, all
or any portion of its rights, obligations or Liabilities under this Agreement without the prior written consent of the other parties
to this Agreement, which any such party may withhold in its absolute discretion; provided, that (a) the Buyer or Parent
may assign (without relieving it of its obligations under) this Agreement in whole or in part to any of its respective Affiliates
or to any Person which becomes a successor in interest (by purchase of assets or stock, or by merger or otherwise) to the Buyer
or Parent (as applicable), and (b) the Buyer and/or Parent may also collaterally assign its rights (but not its obligations) under
this Agreement and the Transaction Documents to its respective lenders. Any purported assignment without such prior written consents
shall be void.

 

8.9
No Third Party Beneficiary. Nothing in this Agreement shall confer any rights, remedies or claims upon any Person or entity
not a party or a permitted assignee of a party to this Agreement, except for the Persons set forth in Article 7, who are
intended third party beneficiaries of such provisions.

 

    - 60 -

     

    

 

8.10
Counterparts. This Agreement may be signed in any number of counterparts with the same effect as if the signatures to each
counterpart were upon a single instrument, and all such counterparts together shall be deemed an original of this Agreement. For
the avoidance of doubt, each Seller who is a signatory hereto acknowledges and agrees that such Seller shall be bound by terms
of this Agreement, irrespective of whether all Sellers have executed this Agreement.

 

8.11
Governing Law and Jurisdiction. This Agreement and any claim, action, dispute or controversy (collectively, the “Actions”)
hereunder shall be governed by and construed in accordance with the Laws of the State of Delaware without giving effect to the
principles of conflict of Laws thereof.

 

8.12
Consent to Jurisdiction and Service of Process. Any Proceeding arising out of or relating to this Agreement or the transactions
contemplated hereby may only be instituted in any state court located in the City of Wilmington, Delaware, or, if such party has
or can acquire jurisdiction, in any United States District Court located in the City of Wilmington, Delaware, and each party waives
any objection which such party may now or hereafter have to the laying of the venue of any such Proceeding, and irrevocably submits
to the exclusive jurisdiction of any such court in any such Proceeding.

 

8.13
WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT
MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE
TRANSACTIONS CONTEMPLATED (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT,
IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO
HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

8.14
Specific Performance. The parties hereto agree that irreparable damage may occur in the event that any of the provisions
of this Agreement were not performed by them in accordance with the terms hereof or were otherwise breached and that each party
hereto shall be entitled to seek an injunction or injunctions to prevent breaches of the provisions hereof and to specific performance
of the terms hereof, in addition to any other remedy at law or equity.

 

8.15
Severability. If any term, provision, agreement, covenant or restriction of this Agreement is held by a court of competent
jurisdiction to be invalid, void or unenforceable, the remainder of the terms, provisions, agreements, covenants and restrictions
of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the
economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party
hereto. Upon such a determination, the parties shall negotiate in good faith to modify this Agreement so as to effect the original
intent of the parties as closely as possible in a reasonably acceptable manner so that the transactions contemplated hereby may
be consummated as originally contemplated to the fullest extent possible.

 

    - 61 -

     

    

 

8.16
Attorneys’ Fees. If any Action relating to this Agreement or the enforcement of any provision of this Agreement
is brought against any party to this Agreement, the prevailing party shall be entitled to recover reasonable attorneys’
fees, costs and disbursements, in addition to any other relief to which the prevailing party may be entitled.

 

8.17
Seller Representative.

 

(a) Each Seller irrevocably appoints the Seller Representative to act on behalf of the Sellers for all purposes under this
Agreement, including the sole, exclusive and full power and authority to act on such Seller’s behalf: (i) to consummate
the transactions contemplated by this Agreement; (ii) to negotiate disputes arising under, or relating to, this Agreement;
(iii) to receive and disburse to such Seller any funds or the Parent Stock received on behalf of the Sellers contemplated
by this Agreement; (iv) to withhold any amounts received on behalf of the Sellers pursuant to this Agreement or otherwise
to satisfy any and all obligations or liabilities incurred by the Sellers or the Seller Representative in the performance of its
duties hereunder and thereunder; (v) to execute and deliver any amendment or waiver to this Agreement (without the prior
approval of the Sellers); and (vi) to take all other actions to be taken by or on behalf of the Sellers in connection with
this Agreement and the Transaction Documents; provided that (ii), (iv) and (v) may only be taken after consultation with the Sellers.
Each Seller further agrees that such agency and proxy are coupled with an interest, are therefore irrevocable without the consent
of the Seller Representative and shall survive the death, incapacity, bankruptcy, dissolution or liquidation of any Seller. Except
in the event of fraud, all decisions and actions by the Seller Representative shall be binding upon all of the Sellers, and no
Seller shall have the right to object, dissent, protest or otherwise contest the same. The Seller Representative shall have no
duties or obligations hereunder, including any fiduciary duties, except those set forth herein, and such duties and obligations
shall be determined solely by the express provisions of this Agreement.

 

(b) Each Seller severally, for itself only and not jointly, in accordance with such Seller’s Pro Rata Percentage, agrees to
indemnify and hold harmless the Seller Representative and its Representatives against any and all actions, liabilities,
losses, damages, fines, penalties, fees, costs, expenses or amounts paid in settlement (in each case, including reasonable
attorneys’ fees and expenses), whether or not involving a third party, arising as a result of its serving as the Seller
Representative, including those incurred by the Seller Representative or the Affiliates of the Seller Representative or any
employees, principals, fiduciaries, agents or representatives of the Seller Representative or such affiliates in connection
with the protection, defense, enforcement of any rights, or fulfilment of any obligations under this Agreement or any
expenses in connection therewith. Any and all payments made by or on behalf of any Seller under this Section 8.16(b) will
be made free and clear of any present or future taxes, deductions, charges or withholdings and all liabilities with respect
thereto.

 

    - 62 -

     

    

 

(c) Neither the Seller Representative nor any of its Representatives shall incur any liability to any Seller by virtue of the
failure or refusal of such Persons for any reason to consummate the transactions contemplated hereby or relating to the performance
of their duties hereunder, except for actions or omissions constituting intentional and knowing fraud. The Seller Representative
and its Representatives shall have no liability in respect of any Proceeding brought against such Persons by any Seller, regardless
of the legal theory under which such liability or obligation may be sought to be imposed, whether sounding in contract or tort,
or whether at law or in equity, or otherwise, if such Persons took or omitted taking any action in good faith.

 

(d) In the event that the Seller Representative becomes unable or unwilling to continue in its capacity as Seller Representative,
or if the Seller Representative resigns as the Seller Representative, a majority-in-number of shares of the Company (prior to
the Closing) may, by written consent, appoint a new representative as the Seller Representative. Notice and a copy of the written
consent appointing such new representative and bearing the signatures of a majority-in-number of the Sellers must be delivered
to the Buyer and each Seller.

 

(e) The Buyer shall be entitled to rely upon any action or decision of, or instruction by, or any document or other paper delivered
by, the Seller Representative on behalf of the Sellers (without any obligation to inquire into the authority of the Seller Representative
or the genuineness or correctness of such document or other paper or any signature of the Seller Representative), and the Buyer
shall not be liable to any Seller for any action taken or omitted to be taken by the Buyer in such reliance or with respect to
actions, decisions and determinations of the Seller Representative.

 

[Remainder
of page intentionally left blank]

 

    - 63 -

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement as of the date first above written.

 

	 	BUYER:
	 	 
	 	LIVEXLIVE MERCHANDISING, INC.
	 	 
	 	By: 	/s/ Jerome N. Gold
	 	Name: 	Jerome N. Gold
	 	Title: 	Executive Vice President
	 	 
	 	PARENT:
	 	 
	 	LIVEXLIVE MEDIA, INC.
	 	 
	 	By: 	/s/ Robert S. Ellin
	 	Name: 	Robert S. Ellin
	 	Title: 	CEO and Chairman

 

[Signature
Page to Stock Purchase Agreement]

 

     

     

    

 

	 	COMPANY:
	 	 
	 	CUSTOM PERSONALIZATION SOLUTIONS, INC.
	 	 
	 	By: 	/s/ Scott R. Norman
	 	Name: 	Scott R. Norman
	 	Title: 	CEO

 

[Signature Page to Stock Purchase Agreement]

 

     

     

    

 

	 	SELLER REPRESENTATIVE:
	 	 
	 	/s/ Scott R. Norman
	 	Scott R. Norman

 

[Signature Page to Stock Purchase Agreement]

 

     

     

    

 

	 	SELLERS:
	 	 
	 	NH GROUP, LLC
	 	 
	 	By: 	/s/ Scott R. Norman
	 	Name:	 Scott R. Norman
	 	Title: 	CEO
	 	 
	 	JLS CPS LLC
	 	 
	 	By:	 /s/ John Semmelhack
	 	Name: 	John Semmelhack
	 	Title:	 Manager
	 	 
	 	/s/ Kenneth A. Krupa
	 	Kenneth A. Krupa, Individually

 

[Signature Page to Stock Purchase Agreement]EX-4.4

 Exhibit 4.4 

PERSONALIS, INC., 

Issuer 
 AND 

[TRUSTEE], 
 Trustee

  
  

INDENTURE 
 Dated as of
[●], 20         
  

 
 Debt
Securities 
  
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	PAGE	 
		
	 ARTICLE 1 DEFINITIONS
	  	 	1	 
			
	         Section 1.01
	  	Definitions of Terms.	  	 	1	 
		
	 ARTICLE 2 ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF
SECURITIES
	  	 	5	 
			
	         Section 2.01
	  	Designation and Terms of Securities.	  	 	5	 
			
	         Section 2.02
	  	Form of Securities and Trustee’s Certificate.	  	 	8	 
			
	         Section 2.03
	  	Denominations: Provisions for Payment.	  	 	8	 
			
	         Section 2.04
	  	Execution and Authentications.	  	 	10	 
			
	         Section 2.05
	  	Registration of Transfer and Exchange.	  	 	11	 
			
	         Section 2.06
	  	Temporary Securities.	  	 	12	 
			
	         Section 2.07
	  	Mutilated, Destroyed, Lost or Stolen Securities.	  	 	12	 
			
	         Section 2.08
	  	Cancellation.	  	 	13	 
			
	         Section 2.09
	  	Benefits of Indenture.	  	 	13	 
			
	         Section 2.10
	  	Authenticating Agent.	  	 	14	 
			
	         Section 2.11
	  	Global Securities.	  	 	14	 
			
	         Section 2.12
	  	CUSIP Numbers.	  	 	15	 
		
	 ARTICLE 3 REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS
	  	 	15	 
			
	         Section 3.01
	  	Redemption.	  	 	15	 
			
	         Section 3.02
	  	Notice of Redemption.	  	 	16	 
			
	         Section 3.03
	  	Payment Upon Redemption.	  	 	17	 
			
	         Section 3.04
	  	Sinking Fund.	  	 	17	 
			
	         Section 3.05
	  	Satisfaction of Sinking Fund Payments with Securities.	  	 	18	 
			
	         Section 3.06
	  	Redemption of Securities for Sinking Fund.	  	 	18	 
		
	 ARTICLE 4 COVENANTS
	  	 	18	 
			
	         Section 4.01
	  	Payment of Principal, Premium and Interest.	  	 	18	 
			
	         Section 4.02
	  	Maintenance of Office or Agency.	  	 	19	 
			
	         Section 4.03
	  	Paying Agents.	  	 	19	 
			
	         Section 4.04
	  	Appointment to Fill Vacancy in Office of Trustee.	  	 	20	 

  
 i. 

 TABLE OF CONTENTS 

(CONTINUED) 
  

							
	 	  	 	  	PAGE	 
		
	 ARTICLE 5 SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND
THE TRUSTEE
	  	 	20	 
			
	         Section 5.01
	  	Company to Furnish Trustee Names and Addresses of Securityholders.	  	 	20	 
			
	         Section 5.02
	  	Preservation of Information; Communications with Securityholders.	  	 	21	 
			
	         Section 5.03
	  	Reports by the Company.	  	 	21	 
			
	         Section 5.04
	  	Reports by the Trustee.	  	 	22	 
		
	 ARTICLE 6 REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT
	  	 	22	 
			
	         Section 6.01
	  	Events of Default.	  	 	22	 
			
	         Section 6.02
	  	Collection of Indebtedness and Suits for Enforcement by Trustee.	  	 	24	 
			
	         Section 6.03
	  	Application of Moneys Collected.	  	 	25	 
			
	         Section 6.04
	  	Limitation on Suits.	  	 	26	 
			
	         Section 6.05
	  	Rights and Remedies Cumulative; Delay or Omission Not Waiver.	  	 	26	 
			
	         Section 6.06
	  	Control by Securityholders.	  	 	27	 
			
	         Section 6.07
	  	Undertaking to Pay Costs.	  	 	27	 
		
	 ARTICLE 7 CONCERNING THE TRUSTEE
	  	 	28	 
			
	         Section 7.01
	  	Certain Duties and Responsibilities of Trustee.	  	 	28	 
			
	         Section 7.02
	  	Certain Rights of Trustee.	  	 	29	 
			
	         Section 7.03
	  	Trustee Not Responsible for Recitals or Issuance or Securities.	  	 	31	 
			
	         Section 7.04
	  	May Hold Securities.	  	 	31	 
			
	         Section 7.05
	  	Moneys Held in Trust.	  	 	32	 
			
	         Section 7.06
	  	Compensation and Reimbursement.	  	 	32	 
			
	         Section 7.07
	  	Reliance on Officer’s Certificate.	  	 	32	 
			
	         Section 7.08
	  	Disqualification; Conflicting Interests.	  	 	33	 
			
	         Section 7.09
	  	Corporate Trustee Required; Eligibility.	  	 	33	 
			
	         Section 7.10
	  	Resignation and Removal; Appointment of Successor.	  	 	33	 
			
	         Section 7.11
	  	Acceptance of Appointment by Successor.	  	 	34	 
			
	         Section 7.12
	  	Merger, Conversion, Consolidation or Succession to Business.	  	 	36	 

  
 ii. 

 TABLE OF CONTENTS 

(CONTINUED) 
  

							
	 	  	 	  	PAGE	 
			
	         Section 7.13
	  	Preferential Collection of Claims Against the Company.	  	 	36	 
			
	         Section 7.14
	  	Notice of Default.	  	 	36	 
		
	 ARTICLE 8 CONCERNING THE SECURITYHOLDERS
	  	 	37	 
			
	         Section 8.01
	  	Evidence of Action by Securityholders.	  	 	37	 
			
	         Section 8.02
	  	Proof of Execution by Securityholders.	  	 	37	 
			
	         Section 8.03
	  	Who May be Deemed Owners.	  	 	38	 
			
	         Section 8.04
	  	Certain Securities Owned by Company Disregarded.	  	 	38	 
			
	         Section 8.05
	  	Actions Binding on Future Securityholders.	  	 	38	 
		
	 ARTICLE 9 SUPPLEMENTAL INDENTURES
	  	 	39	 
			
	         Section 9.01
	  	Supplemental Indentures without the Consent of Securityholders.	  	 	39	 
			
	         Section 9.02
	  	Supplemental Indentures with Consent of Securityholders.	  	 	40	 
			
	         Section 9.03
	  	Effect of Supplemental Indentures.	  	 	40	 
			
	         Section 9.04
	  	Securities Affected by Supplemental Indentures.	  	 	40	 
			
	         Section 9.05
	  	Execution of Supplemental Indentures.	  	 	41	 
		
	 ARTICLE 10 SUCCESSOR ENTITY
	  	 	41	 
			
	         Section 10.01
	  	Company May Consolidate, Etc.	  	 	41	 
			
	         Section 10.02
	  	Successor Entity Substituted.	  	 	42	 
		
	 ARTICLE 11 SATISFACTION AND DISCHARGE
	  	 	42	 
			
	         Section 11.01
	  	Satisfaction and Discharge of Indenture.	  	 	42	 
			
	         Section 11.02
	  	Discharge of Obligations.	  	 	43	 
			
	         Section 11.03
	  	Deposited Moneys to be Held in Trust.	  	 	43	 
			
	         Section 11.04
	  	Payment of Moneys Held by Paying Agents.	  	 	43	 
			
	         Section 11.05
	  	Repayment to Company.	  	 	44	 
		
	 ARTICLE 12 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS
	  	 	44	 
			
	         Section 12.01
	  	No Recourse.	  	 	44	 
		
	 ARTICLE 13 MISCELLANEOUS PROVISIONS
	  	 	45	 
			
	         Section 13.01
	  	Effect on Successors and Assigns.	  	 	45	 
			
	         Section 13.02
	  	Actions by Successor.	  	 	45	 
			
	         Section 13.03
	  	Surrender of Company Powers.	  	 	45	 

  
 iii. 

 TABLE OF CONTENTS 

(CONTINUED) 
  

							
	 	  	 	  	PAGE	 
			
	         Section 13.04
	  	Notices.	  	 	45	 
			
	         Section 13.05
	  	Governing Law; Jury Trial Waiver.	  	 	45	 
			
	         Section 13.06
	  	Treatment of Securities as Debt.	  	 	46	 
			
	         Section 13.07
	  	Certificates and Opinions as to Conditions Precedent.	  	 	46	 
			
	         Section 13.08
	  	Payments on Business Days.	  	 	46	 
			
	         Section 13.09
	  	Conflict with Trust Indenture Act.	  	 	47	 
			
	         Section 13.10
	  	Counterparts.	  	 	47	 
			
	         Section 13.11
	  	Severability.	  	 	47	 
			
	         Section 13.12
	  	Compliance Certificates.	  	 	47	 
			
	         Section 13.13
	  	U.S.A. Patriot Act.	  	 	47	 
			
	         Section 13.14
	  	Force Majeure.	  	 	48	 
			
	         Section 13.15
	  	Table of Contents; Headings.	  	 	48	 

  
 iv. 

 INDENTURE 

INDENTURE, dated as of [●], 20    , among PERSONALIS, INC., a Delaware corporation (the
“Company”), and [TRUSTEE], as trustee (the “Trustee”): 
 WHEREAS, for its lawful corporate purposes, the
Company has duly authorized the execution and delivery of this Indenture to provide for the issuance of debt securities (hereinafter referred to as the “Securities”), in an unlimited aggregate principal amount to be issued from time to
time in one or more series as in this Indenture provided, as registered Securities without coupons, to be authenticated by the certificate of the Trustee; 

WHEREAS, to provide the terms and conditions upon which the Securities are to be authenticated, issued and delivered, the Company has
duly authorized the execution of this Indenture; and 
 WHEREAS, all things necessary to make this Indenture a valid agreement of the
Company, in accordance with its terms, have been done. 
 NOW, THEREFORE, in consideration of the premises and the purchase of the
Securities by the holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable benefit of the holders of Securities: 

ARTICLE 1 
 DEFINITIONS

 Section 1.01    Definitions of Terms. 

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

“Authenticating Agent” means the Trustee or an authenticating agent with respect to all or any of the series of
Securities appointed by the Trustee pursuant to Section 2.10. 
 “Bankruptcy Law” means Title 11, U.S. Code, or
any similar federal or state law for the relief of debtors. 
 “Board of Directors” means the Board of Directors (or
the functional equivalent thereof) of the Company or any duly authorized committee of such Board. 

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

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

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

“Company” means PERSONALIS, INC., a corporation duly organized and existing under the laws of the State of
Delaware, and, subject to the provisions of Article Ten, shall also include its successors and assigns. 
 “Corporate Trust
Office” means the office of the Trustee at which, at any particular time, its corporate trust business shall be principally administered, which office at the date hereof is located at
                     . 

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

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

“Depositary” means, with respect to Securities of any series for which the Company shall determine that such
Securities will be issued as a Global Security, The Depository Trust Company, another clearing agency, or any successor registered as a clearing agency under the Exchange Act, or other applicable statute or regulation, which, in each case, shall be
designated by the Company pursuant to either Section 2.01 or 2.11. 
 “Event of Default” means, with respect to
Securities of a particular series, any event specified in Section 6.01, continued for the period of time, if any, therein designated. 

“Exchange Act” means the United States Securities and Exchange Act of 1934, as amended, and the rules and regulations
promulgated by the Commission thereunder. 
 The term “given”, “mailed”,
“notify” or “sent” with respect to any notice to be given to a Securityholder pursuant to this Indenture, shall mean notice (x) given to the Depositary (or its designee) pursuant to the standing
instructions from the Depositary or its designee, including by electronic mail in accordance with accepted practices or procedures at the Depositary (in the case of a Global Security) or (y) mailed to such Holder by first class mail, postage
prepaid, at its address as it appears on the Security Register (in the case of a definitive Security). Notice so “given” shall be deemed to include any notice to be “mailed” or “delivered,” as applicable, under this
Indenture. 

  
 2 

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

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

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

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

 “Officer” means, with respect to the Company, the chairman of the Board of Directors, a chief executive officer,
a president, a chief financial officer, a chief operating officer, any executive vice president, any senior vice president, any vice president, the treasurer or any assistant treasurer, the controller or any assistant controller or the secretary or
any assistant secretary. 
 “Officer’s Certificate” means a certificate signed by any Officer. Each such
certificate shall include the statements provided for in Section 13.07, if and to the extent required by the provisions thereof. 

  
 3 

 “Opinion of Counsel” means an opinion in writing subject to
customary exceptions of legal counsel, who may be an employee of or counsel for the Company, that is delivered to the Trustee in accordance with the terms hereof. Each such opinion shall include the statements provided for in Section 13.07, if
and to the extent required by the provisions thereof. 
 “Outstanding”, when used with reference to Securities of
any series, means, subject to the provisions of Section 8.04, as of any particular time, all Securities of that series theretofore authenticated and delivered by the Trustee under this Indenture, except (a) Securities theretofore canceled
by the Trustee or any paying agent, or delivered to the Trustee or any paying agent for cancellation or that have previously been canceled; (b) Securities or portions thereof for the payment or redemption of which moneys or Governmental
Obligations in the necessary amount shall have been deposited in trust with the Trustee or with any paying agent (other than the Company) or shall have been set aside and segregated in trust by the Company (if the Company shall act as its own paying
agent); provided, however, that if such Securities or portions of such Securities are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article Three, or provision satisfactory to the
Trustee shall have been made for giving such notice; and (c) Securities in lieu of or in substitution for which other Securities shall have been authenticated and delivered pursuant to the terms of Section 2.07. 

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

“Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the
same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 2.07 in lieu of a lost, destroyed or stolen Security shall be deemed to evidence the same
debt as the lost, destroyed or stolen Security. 
 “Responsible Officer” when used with respect to the Trustee means
any officer within the Corporate Trust Office of the Trustee (or any successor group of the Trustee) or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers and also
means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his or her knowledge of and familiarity with the particular subject and in each case who shall have direct responsibility for
the administration of this Indenture. 
 “Securities” has the meaning stated in the first recital of this Indenture
and more particularly means any Securities authenticated and delivered under this Indenture. 
 “Securities Act”
means the Securities Act of 1933, as amended. 
 “Securityholder”, “holder of Securities”,
“registered holder”, or other similar term, means the Person or Persons in whose name or names a particular Security is registered on the Security Register kept for that purpose in accordance with the terms of this Indenture.

  
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 “Security Register” and “Security Registrar”
shall have the meanings as set forth in Section 2.05. 
 “Subsidiary” means, with respect to any Person, any
corporation, association, partnership or other business entity of which more than 50% of the total voting power of shares of capital stock or other interests (including partnership interests) entitled (without regard to the occurrence of any
contingency) to vote in the election of directors, managers, general partners or trustees thereof is at the time owned or controlled, directly or indirectly, by (i) such Person; (ii) such Person and one or more Subsidiaries of such Person;
or (iii) one or more Subsidiaries of such Person. 
 “Trustee” means
                    , and, subject to the provisions of Article Seven, shall also include its successors and assigns, and, if at any time there is
more than one Person acting in such capacity hereunder, “Trustee” shall mean each such Person. The term “Trustee” as used with respect to a particular series of the Securities shall mean the trustee with respect to that series.

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

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

ARTICLE 2 
 ISSUE,
DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES 
 Section 2.01    Designation
and Terms of Securities. 
 (a)    The aggregate principal amount of Securities that may be authenticated and
delivered under this Indenture is unlimited. The Securities may be issued in one or more series up to the aggregate principal amount of Securities of that series from time to time authorized by or pursuant to a Board Resolution or pursuant to one or
more indentures supplemental hereto. Prior to the initial issuance of Securities of any series, there shall be established in or pursuant to a Board Resolution, and set forth in an Officer’s Certificate, or established in one or more indentures
supplemental hereto: 
 (1)    the title of the Securities of the series (which shall distinguish the Securities
of that series from all other Securities); 
 (2)    any limit upon the aggregate principal amount of the
Securities of that series that may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of that series); 

  
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 (3)    the maturity date or dates on which the principal of the
Securities of the series is payable; 
 (4)    the form of the Securities of the series including the form of
the certificate of authentication for such series; 
 (5)    the applicability of any guarantees; 

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

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

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

(10)    the Company’s right, if any, to defer the payment of interest and the maximum length of any such
deferral period; 
 (11)    if applicable, the date or dates after which, or the period or periods during which,
and the price or prices at which, the Company may at its option, redeem the series of Securities pursuant to any optional or provisional redemption provisions and the terms of those redemption provisions; 

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

(13)    the denominations in which the Securities of the series shall be issuable, if other than denominations of
one thousand U.S. dollars ($1,000) or any integral multiple thereof; 
 (14)    any and all terms, if
applicable, relating to any auction or remarketing of the Securities of that series and any security for the obligations of the Company with respect to such Securities and any other terms which may be advisable in connection with the marketing of
Securities of that series; 

  
 6 

 (15)    whether the Securities of the series shall be issued in
whole or in part in the form of a Global Security or Securities; the terms and conditions, if any, upon which such Global Security or Securities may be exchanged in whole or in part for other individual Securities; and the Depositary for such Global
Security or Securities; 
 (16)    if applicable, the provisions relating to conversion or exchange of any
Securities of the series and the terms and conditions upon which such Securities will be so convertible or exchangeable, including the conversion or exchange price, as applicable, or how it will be calculated and may be adjusted, any mandatory or
optional (at the Company’s option or the holders’ option) conversion or exchange features, the applicable conversion or exchange period and the manner of settlement for any conversion or exchange, which may, without limitation, include the
payment of cash as well as the delivery of securities; 
 (17)    if other than the full principal amount
thereof, the portion of the principal amount of Securities of the series which shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.01; 

(18)    additions to or changes in the covenants applicable to the series of Securities being issued, including,
among others, the consolidation, merger or sale covenant; 
 (19)    additions to or changes in the Events of
Default with respect to the Securities and any change in the right of the Trustee or the Securityholders to declare the principal, premium, if any, and interest, if any, with respect to such Securities to be due and payable; 

(20)    additions to or changes in or deletions of the provisions relating to covenant defeasance and legal
defeasance; 
 (21)    additions to or changes in the provisions relating to satisfaction and discharge of this
Indenture; 
 (22)    additions to or changes in the provisions relating to the modification of this Indenture
both with and without the consent of Securityholders of Securities issued under this Indenture; 
 (23)    the
currency of payment of Securities if other than U.S. dollars and the manner of determining the equivalent amount in U.S. dollars; 

(24)    whether interest will be payable in cash or additional Securities at the Company’s or the
Securityholders’ option and the terms and conditions upon which the election may be made; 
 (25)    the
terms and conditions, if any, upon which the Company shall pay amounts in addition to the stated interest, premium, if any and principal amounts of the Securities of the series to any Securityholder that is not a “United States person” for
federal tax purposes; 

  
 7 

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

All Securities of any one series shall be substantially identical except as may otherwise be provided in or pursuant to any such Board
Resolution or in any indentures supplemental hereto. 
 If any of the terms of the series are established by action taken pursuant to a
Board Resolution of the Company, a copy of an appropriate record of such action shall be certified by the secretary or an assistant secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officer’s Certificate
of the Company setting forth the terms of the series. 
 Securities of any particular series may be issued at various times, with different
dates on which the principal or any installment of principal is payable, with different rates of interest, if any, or different methods by which rates of interest may be determined, with different dates on which such interest may be payable and with
different redemption dates. 
 Section 2.02    Form of Securities and Trustee’s Certificate. 

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

Section 2.03    Denominations: Provisions for Payment. 

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

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

Any interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date for Securities of
the same series (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid by the
Company, at its election, as provided in clause (1) or clause (2) below: 
 (1)    The Company may make
payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered in the Security Register at the close of business on a special record date for the payment of
such Defaulted Interest, which shall be fixed in the following manner: the Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the
same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date
of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such
Defaulted Interest which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify
the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be sent, to each Securityholder not less than
10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been sent as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such
Securities (or their respective Predecessor Securities) are registered in the Security Register on such special record date. 

(2)    The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not
inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to
this clause, such manner of payment shall be deemed practicable by the Trustee. 
 Unless otherwise set forth in a Board Resolution or one
or more indentures supplemental hereto establishing the terms of any series of Securities pursuant to Section 2.01 hereof, the term “regular record date” as used in this Section with respect to a series of Securities and any Interest

  
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Payment Date for such series shall mean either the fifteenth day of the month immediately preceding the month in which an Interest Payment Date established for such series pursuant to
Section 2.01 hereof shall occur, if such Interest Payment Date is the first day of a month, or the first day of the month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if such
Interest Payment Date is the fifteenth day of a month, whether or not such date is a Business Day. 
 Subject to the foregoing provisions of
this Section, each Security of a series delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security of such series shall carry the rights to interest accrued and unpaid, and to accrue, that were carried by
such other Security. 
 Section 2.04    Execution and Authentications. 

The Securities shall be signed on behalf of the Company by one of its Officers. Signatures may be in the form of a manual or facsimile
signature. 
 The Company may use the facsimile signature of any Person who shall have been an Officer (at the time of execution),
notwithstanding the fact that at the time the Securities shall be authenticated and delivered or disposed of such Person shall have ceased to be such an officer of the Company. The Securities may contain such notations, legends or endorsements
required by law, stock exchange rule or usage. Each Security shall be dated the date of its authentication by the Trustee. 
 A Security
shall not be valid until authenticated manually by an authorized signatory of the Trustee, or by an Authenticating Agent. Such signature shall be conclusive evidence that the Security so authenticated has been duly authenticated and delivered
hereunder and that the holder is entitled to the benefits of this Indenture. At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the
Trustee for authentication, together with a written order of the Company for the authentication and delivery of such Securities, signed by an Officer, and the Trustee in accordance with such written order shall authenticate and deliver such
Securities. 
 Upon the Company’s delivery of any such authentication order to the Trustee at any time after the initial issuance of
Securities under this Indenture, the Trustee shall be provided with, and (subject to Sections 315(a) through 315(d) of the Trust Indenture Act) shall be fully protected in relying upon, (1) an Opinion of Counsel or reliance letter and
(2) an Officer’s Certificate stating that all conditions precedent to the execution, authentication and delivery of such Securities are in conformity with the provisions of this Indenture. 

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

  
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 Section 2.05    Registration of Transfer and Exchange. 

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

(b)    The Company shall keep, or cause to be kept, at its office or agency designated for such purpose a register
or registers (herein referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall register the Securities and the transfers of Securities as in this Article provided and
which at all reasonable times shall be open for inspection by the Trustee. The registrar for the purpose of registering Securities and transfer of Securities as herein provided shall be appointed as authorized by Board Resolution or Supplemental
Indenture (the “Security Registrar”). 
 Upon surrender for transfer of any Security at the office or agency of the Company
designated for such purpose, the Company shall execute, the Trustee shall authenticate and such office or agency shall deliver in the name of the transferee or transferees a new Security or Securities of the same series as the Security presented for
a like aggregate principal amount. 
 The Company initially appoints the Trustee as initial Security Registrar for each series of
Securities. 
 All Securities presented or surrendered for exchange or registration of transfer, as provided in this Section, shall be
accompanied (if so required by the Company or the Security Registrar) by a written instrument or instruments of transfer, in form satisfactory to the Company or the Security Registrar, duly executed by the registered holder or by such holder’s
duly authorized attorney in writing. 
 (c)    Except as provided pursuant to Section 2.01 pursuant to a
Board Resolution, and set forth in an Officer’s Certificate, or established in one or more indentures supplemental to this Indenture, no service charge shall be made for any exchange or registration of transfer of Securities, or issue of new
Securities in case of partial redemption of any series or repurchase, conversion or exchange of less than the entire principal amount of a Security, but the Company may require payment of a sum sufficient to cover any tax or other governmental
charge in relation thereto, other than exchanges pursuant to Section 2.06, Section 3.03(b) and Section 9.04 not involving any transfer. 

(d)    The Company and the Security Registrar shall not be required (i) to issue, exchange or register the
transfer of any Securities during a period beginning at the opening of business 15 days before the day of the sending of a notice of redemption of less than all the Outstanding Securities of the same series and ending at the close of business on the
day of such sending, nor (ii) to register the transfer of or exchange any Securities of any series or portions 

  
 11 

 
thereof called for redemption or surrendered for repurchase, but not validly withdrawn, other than the unredeemed portion of any such Securities being redeemed in part or not surrendered for
repurchase, as the case may be. The provisions of this Section 2.05 are, with respect to any Global Security, subject to Section 2.11 hereof. 

The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under
this Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers between or among Depositary participants or beneficial owners of interests in any Global Security) other than to require
delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with
the express requirements hereof. 
 Section 2.06    Temporary Securities. 

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

Section 2.07    Mutilated, Destroyed, Lost or Stolen Securities. 

In case any temporary or definitive Security shall become mutilated or be destroyed, lost or stolen, the Company (subject to the next
succeeding sentence) shall execute, and upon the Company’s request the Trustee (subject as aforesaid) shall authenticate and deliver, a new Security of the same series, bearing a number not contemporaneously outstanding, in exchange and
substitution for the mutilated Security, or in lieu of and in substitution for the Security so destroyed, lost or stolen. In every case the applicant for a substituted Security shall furnish to the Company and the Trustee such security or indemnity
as may be required by them to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Company and the Trustee evidence to their satisfaction of the destruction, loss or theft of the
applicant’s Security and of the ownership thereof. The Trustee may authenticate any such substituted Security and deliver the same upon the written request or authorization of any officer 

  
 12 

 
of the Company. Upon the issuance of any substituted Security, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in
relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 
 In case any Security that
has matured or is about to mature shall become mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a substitute Security, pay or authorize the payment of the same (without surrender thereof except in the case of a
mutilated Security) if the applicant for such payment shall furnish to the Company and the Trustee such security or indemnity as they may require to save them harmless, and, in case of destruction, loss or theft, evidence to the satisfaction of the
Company and the Trustee of the destruction, loss or theft of such Security and of the ownership thereof. 
 Every replacement Security
issued pursuant to the provisions of this Section shall constitute an additional contractual obligation of the Company whether or not the mutilated, destroyed, lost or stolen Security shall be found at any time, or be enforceable by anyone, and
shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of the same series duly issued hereunder. All Securities shall be held and owned upon the express condition that the foregoing
provisions are exclusive with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities, and shall preclude (to the extent lawful) any and all other rights or remedies, notwithstanding any law or statute existing or
hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments or other securities without their surrender. 

Section 2.08    Cancellation. 

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

Section 2.09    Benefits of Indenture. 

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

  
 13 

 Section 2.10    Authenticating Agent. 

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

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

Section 2.11    Global Securities. 

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

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

  
 14 

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

Section 2.12    CUSIP Numbers. 

The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use
“CUSIP” numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any
notice of a redemption and that reliance may be placed only on the other elements of identification printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly
notify the Trustee of any change in the “CUSIP” numbers. 
 ARTICLE 3 

REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS 

Section 3.01    Redemption. 

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

  
 15 

 Section 3.02    Notice of Redemption. 

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

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

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

(b)    If less than all the Securities of a series are to be redeemed, the Company shall give the Trustee at least
45 days’ notice (unless a shorter notice shall be satisfactory to the Trustee) in advance of the date fixed for redemption as to the aggregate principal amount of Securities of the series to be redeemed, and thereupon the Securities to be
redeemed shall be selected, by lot, on a pro rata basis, or in such other manner as the Company shall deem appropriate and fair in its discretion and that may provide for the selection of a portion or portions (equal to one thousand U.S. dollars
($1,000) or any integral multiple thereof) of the principal amount of such Securities of a denomination larger than $1,000, the Securities to be redeemed and shall thereafter promptly notify the Company in writing of the numbers of the Securities to
be redeemed, in whole or in part. The Company may, if and whenever it shall so elect, by delivery of instructions signed on its behalf by an Officer, instruct the Trustee or any 

  
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paying agent to call all or any part of the Securities of a particular series for redemption and to give notice of redemption in the manner set forth in this Section, such notice to be in the
name of the Company or its own name as the Trustee or such paying agent may deem advisable. In any case in which notice of redemption is to be given by the Trustee or any such paying agent, the Company shall deliver or cause to be delivered to, or
permit to remain with, the Trustee or such paying agent, as the case may be, such Security Register, transfer books or other records, or suitable copies or extracts therefrom, sufficient to enable the Trustee or such paying agent to give any notice
by mail that may be required under the provisions of this Section. 
 Section 3.03    Payment Upon Redemption.

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

(b)    Upon presentation of any Security of such series that is to be redeemed in part only, the Company shall
execute and the Trustee shall authenticate and the office or agency where the Security is presented shall deliver to the Securityholder thereof, at the expense of the Company, a new Security of the same series of authorized denominations in
principal amount equal to the unredeemed portion of the Security so presented. 
 Section 3.04    Sinking Fund.

 The provisions of Sections 3.04, 3.05 and 3.06 shall be applicable to any sinking fund for the retirement of Securities of a series,
except as otherwise specified as contemplated by Section 2.01 for Securities of such series. 
 The minimum amount of any sinking fund
payment provided for by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein
referred to as an “optional sinking fund payment”. If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 3.05. Each sinking fund
payment shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such series. 

  
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 Section 3.05    Satisfaction of Sinking Fund Payments with
Securities. 
 The Company (i) may deliver Outstanding Securities of a series and (ii) may apply as a credit Securities of a
series that have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities, in each case in
satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series required to be made pursuant to the terms of such Securities as provided for by the terms of such series, provided that such Securities have
not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the redemption price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking
fund payment shall be reduced accordingly. 
 Section 3.06    Redemption of Securities for Sinking Fund.

 Not less than 45 days prior to each sinking fund payment date for any series of Securities (unless a shorter period shall be
satisfactory to the Trustee), the Company will deliver to the Trustee an Officer’s Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of the series, the portion thereof, if any, that
is to be satisfied by delivering and crediting Securities of that series pursuant to Section 3.05 and the basis for such credit and will, together with such Officer’s Certificate, deliver to the Trustee any Securities to be so delivered.
Not less than 30 days before each such sinking fund payment date the Securities to be redeemed upon such sinking fund payment date shall be selected in the manner specified in Section 3.02 and the Company shall cause notice of the redemption
thereof to be given in the name of and at the expense of the Company in the manner provided in Section 3.02. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in
Section 3.03. 
 ARTICLE 4 

COVENANTS 

Section 4.01    Payment of Principal, Premium and Interest. 

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

  
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 Section 4.02    Maintenance of Office or Agency. 

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

Section 4.03    Paying Agents. 

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

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

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

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

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

(b)    If the Company shall act as its own paying agent with respect to any series of the Securities, it will on or
before each due date of the principal of (and premium, if any) or interest on Securities of that series, set aside, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay such principal (and premium, if
any) or interest so becoming due on Securities of that series until such sums shall be paid to such Persons or 

  
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otherwise disposed of as herein provided and will promptly notify the Trustee of such action, or any failure (by it or any other obligor on such Securities) to take such action. Whenever the
Company shall have one or more paying agents for any series of Securities, it will, prior to each due date of the principal of (and premium, if any) or interest on any Securities of that series, deposit with the paying agent a sum sufficient to pay
the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such paying agent is the Trustee) the Company will promptly
notify the Trustee of this action or failure so to act. 
 (c)    Notwithstanding anything in this Section to the
contrary, (i) the agreement to hold sums in trust as provided in this Section is subject to the provisions of Section 11.05, and (ii) the Company may at any time, for the purpose of obtaining the satisfaction and discharge of this
Indenture or for any other purpose, pay, or direct any paying agent to pay, to the Trustee all sums held in trust by the Company or such paying agent, such sums to be held by the Trustee upon the same terms and conditions as those upon which such
sums were held by the Company or such paying agent; and, upon such payment by the Company or any paying agent to the Trustee, the Company or such paying agent shall be released from all further liability with respect to such money. 

Section 4.04    Appointment to Fill Vacancy in Office of Trustee. 

The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in
Section 7.10, a Trustee, so that there shall at all times be a Trustee hereunder. 
 ARTICLE 5 

SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE 

Section 5.01    Company to Furnish Trustee Names and Addresses of Securityholders. 

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

  
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 Section 5.02    Preservation of Information; Communications with
Securityholders. 
 (a)    The Trustee shall preserve, in as current a form as is reasonably practicable, all
information as to the names and addresses of the holders of Securities contained in the most recent list furnished to it as provided in Section 5.01 and as to the names and addresses of holders of Securities received by the Trustee in its
capacity as Security Registrar (if acting in such capacity). 
 (b)    The Trustee may destroy any list furnished
to it as provided in Section 5.01 upon receipt of a new list so furnished. 
 (c)    Securityholders may
communicate as provided in Section 312(b) of the Trust Indenture Act with other Securityholders with respect to their rights under this Indenture or under the Securities, and, in connection with any such communications, the Trustee shall
satisfy its obligations under Section 312(b) of the Trust Indenture Act in accordance with the provisions of Section 312(b) of the Trust Indenture Act. 

Section 5.03    Reports by the Company. 

(a)    The Company will at all times comply with Section 314(a) of the Trust Indenture Act. The Company
covenants and agrees to provide (which delivery may be via electronic mail) to the Trustee within 30 days, after the Company files the same with the Commission, copies of the annual reports and of the information, documents and other reports (or
copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) that the Company is required to file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange
Act; provided, however, the Company shall not be required to deliver to the Trustee any correspondence filed with the Commission or any materials for which the Company has sought and received confidential treatment by the Commission; and provided
further, that so long as such filings by the Company are available on the Commission’s Electronic Data Gathering, Analysis and Retrieval System (EDGAR), or any successor system, such filings shall be deemed to have been filed with the Trustee
for purposes hereof without any further action required by the Company. For the avoidance of doubt, a failure by the Company to file annual reports, information and other reports with the Commission within the time period prescribed thereof by the
Commission shall not be deemed a breach of this Section 5.03. 
 (b)    Delivery of reports, information and
documents to the Trustee under Section 5.03 is for informational purposes only and the information and the Trustee’s receipt of the foregoing shall not constitute constructive notice of any information contained therein, or determinable
from information contained therein including the Company’s compliance with any of their covenants thereunder (as to which the Trustee is entitled to rely exclusively on an Officer’s Certificate). The Trustee is under no duty to examine any
such reports, information or documents delivered to the Trustee or filed with the Commission via EDGAR to ensure compliance with the provision of this Indenture or to ascertain the correctness or otherwise of the information or the statements
contained therein. The Trustee shall have no responsibility or duty whatsoever to ascertain or determine whether the above referenced filings with the Commission on EDGAR (or any successor system) has occurred. 

  
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 Section 5.04    Reports by the Trustee. 

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

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

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

ARTICLE 6 
 REMEDIES OF
THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT 
 Section 6.01    Events of Default. 

(a)    Whenever used herein with respect to Securities of a particular series, “Event of Default” means
any one or more of the following events that has occurred and is continuing: 
 (1)    the Company defaults in
the payment of any installment of interest upon any of the Securities of that series, as and when the same shall become due and payable, and such default continues for a period of 90 days; provided, however, that a valid extension of an interest
payment period by the Company in accordance with the terms of any indenture supplemental hereto shall not constitute a default in the payment of interest for this purpose; 

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

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

  
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 (4)    the Company pursuant to or within the meaning of any
Bankruptcy Law (i) commences a voluntary case, (ii) consents to the entry of an order for relief against it in an involuntary case, (iii) consents to the appointment of a Custodian of it or for all or substantially all of its property
or (iv) makes a general assignment for the benefit of its creditors; or 
 (5)    a court of competent
jurisdiction enters an order under any Bankruptcy Law that (i) is for relief against the Company in an involuntary case, (ii) appoints a Custodian of the Company for all or substantially all of its property or (iii) orders the
liquidation of the Company, and the order or decree remains unstayed and in effect for 90 days. 
 (b)    In each
and every such case (other than an Event of Default specified in clause (4) or clause (5) above), unless the principal of all the Securities of that series shall have already become due and payable, either the Trustee or the holders of not
less than 25% in aggregate principal amount of the Securities of that series then Outstanding hereunder, by notice in writing to the Company (and to the Trustee if given by such Securityholders), may declare the principal of (and premium, if any,
on) and accrued and unpaid interest on all the Securities of that series to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable. If an Event of Default specified in clause
(4) or clause (5) above occurs, the principal of and accrued and unpaid interest on all the Securities of that series shall automatically be immediately due and payable without any declaration or other act on the part of the Trustee or the
holders of the Securities. 
 (c)    At any time after the principal of (and premium, if any, on) and accrued and
unpaid interest on the Securities of that series shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the holders of a majority
in aggregate principal amount of the Securities of that series then Outstanding hereunder, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if: (i) the Company has paid or deposited
with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of that series and the principal of (and premium, if any, on) any and all Securities of that series that shall have become due otherwise than by
acceleration (with interest upon such principal and premium, if any, and, to the extent that such payment is enforceable under applicable law, upon overdue installments of interest, at the rate per annum expressed in the Securities of that series to
the date of such payment or deposit) and the amount payable to the Trustee under Section 7.06, and (ii) any and all Events of Default under the Indenture with respect to such series, other than the nonpayment of principal on (and premium,
if any, on) and accrued and unpaid interest on Securities of that series that shall not have become due by their terms, shall have been remedied or waived as provided in Section 6.06. 

No such rescission and annulment shall extend to or shall affect any subsequent default or impair any right consequent thereon. 

  
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 (d)    In case the Trustee shall have proceeded to enforce any
right with respect to Securities of that series under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission or annulment or for any other reason or shall have been determined adversely to the
Trustee, then and in every such case, subject to any determination in such proceedings, the Company and the Trustee shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company and
the Trustee shall continue as though no such proceedings had been taken. 
 Section 6.02    Collection of
Indebtedness and Suits for Enforcement by Trustee. 
 (a)    The Company covenants that (i) in case it
shall default in the payment of any installment of interest on any of the Securities of a series, or in any payment required by any sinking or analogous fund established with respect to that series as and when the same shall have become due and
payable, and such default shall have continued for a period of 90 days, or (ii) in case it shall default in the payment of the principal of (or premium, if any, on) any of the Securities of a series when the same shall have become due and
payable, whether upon maturity of the Securities of a series or upon redemption or upon declaration or otherwise then, upon demand of the Trustee, the Company will pay to the Trustee, for the benefit of the holders of the Securities of that series,
the whole amount that then shall have been become due and payable on all such Securities for principal (and premium, if any) or interest, or both, as the case may be, with interest upon the overdue principal (and premium, if any) and (to the extent
that payment of such interest is enforceable under applicable law) upon overdue installments of interest at the rate per annum expressed in the Securities of that series; and, in addition thereto, such further amount as shall be sufficient to cover
the costs and expenses of collection, and the amount payable to the Trustee under Section 7.06. 
 (b)    If
the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of
the sums so due and unpaid, and may prosecute any such action or proceeding to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon the Securities of that series and collect the moneys
adjudged or decreed to be payable in the manner provided by law or equity out of the property of the Company or other obligor upon the Securities of that series, wherever situated. 

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

  
 24 

 
7.06; and any receiver, assignee or trustee in bankruptcy or reorganization is hereby authorized by each of the holders of Securities of such series to make such payments to the Trustee, and, in
the event that the Trustee shall consent to the making of such payments directly to such Securityholders, to pay to the Trustee any amount due it under Section 7.06. 

(d)    All rights of action and of asserting claims under this Indenture, or under any of the terms established
with respect to Securities of that series, may be enforced by the Trustee without the possession of any of such Securities, or the production thereof at any trial or other proceeding relative thereto, and any such suit or proceeding instituted by
the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for payment to the Trustee of any amounts due under Section 7.06, be for the ratable benefit of the holders of the
Securities of such series. 
 In case of an Event of Default hereunder, the Trustee may in its discretion proceed to protect and enforce the
rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise, whether for the specific
enforcement of any covenant or agreement contained in the Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law. 

Nothing contained herein shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any
Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of that series or the rights of any Securityholder thereof or to authorize the Trustee to vote in respect of the claim of any Securityholder
in any such proceeding. 
 Section 6.03    Application of Moneys Collected. 

Any moneys collected by the Trustee pursuant to this Article with respect to a particular series of Securities shall be applied in the
following order, at the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation of the Securities of that series, and notation thereon of the
payment, if only partially paid, and upon surrender thereof if fully paid: 
 FIRST: To the payment of costs and expenses of collection and
of all amounts payable to the Trustee under Section 7.06; 
 SECOND: To the payment of the amounts then due and unpaid upon Securities
of such series for principal (and premium, if any) and interest, in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such
Securities for principal (and premium, if any) and interest, respectively; and 
 THIRD: To the payment of the remainder, if any, to the
Company or any other Person lawfully entitled thereto. 

  
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 Section 6.04    Limitation on Suits. 

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

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

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

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

(b)    No delay or omission of the Trustee or of any holder of any of the Securities to exercise any right or power
accruing upon any Event of Default occurring and continuing as aforesaid shall impair any such right or power, or shall be construed to be a waiver 

  
 26 

 
of any such default or an acquiescence therein; and, subject to the provisions of Section 6.04, every power and remedy given by this Article or by law to the Trustee or the Securityholders
may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Securityholders. 

Section 6.06    Control by Securityholders. 

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

Section 6.07    Undertaking to Pay Costs. 

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

  
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 ARTICLE 7 

CONCERNING THE TRUSTEE 

Section 7.01    Certain Duties and Responsibilities of Trustee. 

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

(i)    prior to the occurrence of an Event of Default with respect to the Securities of a series and after the
curing or waiving of all such Events of Default with respect to that series that may have occurred: 
 (A)    the
duties and obligations of the Trustee shall with respect to the Securities of such series be determined solely by the express provisions of this Indenture, and the Trustee shall not be liable with respect to the Securities of such series except for
the performance of such duties and obligations as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

(B)    in the absence of bad faith on the part of the Trustee, the Trustee may with respect to the Securities of
such series conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case
of any such certificates or opinions that by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this
Indenture; 
 (ii)    the Trustee shall not be liable to any Securityholder or to any other Person for any error
of judgment made in good faith by a Responsible Officer or Responsible Officers of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 

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

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

(v)    The Trustee shall not be required to give any bond or surety in respect of the performance of its powers or
duties hereunder; 
 (vi)    The permissive right of the Trustee to do things enumerated in this Indenture shall
not be construed as a duty of the Trustee; and 
 (vii)    No Trustee shall have any duty or responsibility for
any act or omission of any other Trustee appointed with respect to a series of Securities hereunder. 

Section 7.02    Certain Rights of Trustee. 

Except as otherwise provided in Section 7.01: 

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

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

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

(d)    The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this
Indenture at the request, order or direction of any of the Securityholders pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to the Trustee security or indemnity reasonably acceptable to the Trustee against
the costs, expenses and liabilities that may be incurred therein or thereby; nothing contained herein 

  
 29 

 
shall, however, relieve the Trustee of the obligation, upon the occurrence of an Event of Default with respect to a series of the Securities (that has not been cured or waived), to exercise with
respect to Securities of that series such of the rights and powers vested in it by this Indenture, and to use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his
or her own affairs; 
 (e)    The Trustee shall not be liable for any action taken or omitted to be taken by it
in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; 

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

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

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

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

(j)    The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent by
unsecured e-mail, facsimile transmission or other similar unsecured electronic methods; provided, however, that such instructions or directions shall be signed by an authorized representative of the party
providing such instructions or directions. If 

  
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the party elects to give the Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion
elects to act upon such instructions, the Trustee’s understanding of such instructions shall be deemed controlling. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s
reliance upon and compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written instruction. The party providing electronic instructions agrees to assume all risks arising out of the use
of such electronic methods to submit instructions and directions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, and the risk or interception and misuse by third parties. The Trustee may
request that the Company deliver an Officer’s Certificate setting forth the names of individuals and/or titles of officers authorized at such time to furnish the Trustee with Officer’s Certificates, Company Orders and any other matters or
directions pursuant to this Indenture. 
 (k)    The rights, privileges, protections, immunities and benefits
given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder and under the Securities, and each agent, custodian or other person
employed to act under this Indenture. 
 (l)    The Trustee shall not be deemed to have knowledge of any Default
or Event of Default (other than an Event of Default constituting the failure to pay the interest on, or the principal of, the Securities if the Trustee also serves as the paying agent for such Securities) until the Trustee shall have received
written notification in the manner set forth in this Indenture or a Responsible Officer of the Trustee shall have obtained actual knowledge. 

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

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

(c)    The Trustee shall not be accountable for the use or application by the Company of any of the Securities or
of the proceeds of such Securities, or for the use or application of any moneys paid over by the Trustee in accordance with any provision of this Indenture or established pursuant to Section 2.01, or for the use or application of any moneys
received by any paying agent other than the Trustee. 
 Section 7.04    May Hold Securities. 

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

  
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 Section 7.05    Moneys Held in Trust. 

Subject to the provisions of Section 11.05, all moneys received by the Trustee shall, until used or applied as herein provided, be held
in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any moneys received by it hereunder except such as it
may agree with the Company to pay thereon. 
 Section 7.06    Compensation and Reimbursement. 

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

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

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

Section 7.07    Reliance on Officer’s Certificate. 

Except as otherwise provided in Section 7.01, whenever in the administration of the provisions of this Indenture the Trustee shall deem
it reasonably necessary or desirable that a matter be proved or established prior to taking or suffering or omitting to take any action 

  
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hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be
conclusively proved and established by an Officer’s Certificate delivered to the Trustee and such certificate, in the absence of negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken,
suffered or omitted to be taken by it under the provisions of this Indenture upon the faith thereof. 

Section 7.08    Disqualification; Conflicting Interests. 

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

Section 7.09    Corporate Trustee Required; Eligibility. 

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

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

Section 7.10    Resignation and Removal; Appointment of Successor. 

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

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

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

(ii)    the Trustee shall cease to be eligible in accordance with the provisions of Section 7.09 and shall
fail to resign after written request therefor by the Company or by any such Securityholder; or 
 (iii)    the
Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or commence a voluntary bankruptcy proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall
take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation; 
 then,
in any such case, the Company may remove the Trustee with respect to all Securities and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to
the Trustee so removed and one copy to the successor trustee, or any Securityholder who has been a bona fide holder of a Security or Securities for at least six months may, on behalf of that holder and all others similarly situated, petition any
court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.

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

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

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

Section 7.11    Acceptance of Appointment by Successor. 

(a)    In case of the appointment hereunder of a successor trustee with respect to all Securities, every such
successor trustee so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and 

  
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thereupon the resignation or removal of the retiring Trustee shall become effective and such successor trustee, without any further act, deed or conveyance, shall become vested with all the
rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor trustee, such retiring Trustee shall, upon payment of any amounts due to it pursuant to the provisions of Section 7.06, execute and
deliver an instrument transferring to such successor trustee all the rights, powers, and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor trustee all property and money held by such retiring Trustee
hereunder. 
 (b)    In case of the appointment hereunder of a successor trustee with respect to the Securities
of one or more (but not all) series, the Company, the retiring Trustee and each successor trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor trustee shall
accept such appointment and which (i) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor trustee all the rights, powers, trusts and duties of the retiring Trustee with
respect to the Securities of that or those series to which the appointment of such successor trustee relates, (ii) shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties
of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (iii) shall add to or change any of the provisions of this
Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust, that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee and that no Trustee
shall be responsible for any act or failure to act on the part of any other Trustee hereunder; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent
provided therein, such retiring Trustee shall with respect to the Securities of that or those series to which the appointment of such successor trustee relates have no further responsibility for the exercise of rights and powers or for the
performance of the duties and obligations vested in the Trustee under this Indenture, and each such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee relates; but, on request of the Company or any successor trustee, such retiring Trustee shall duly assign, transfer and deliver to such
successor trustee, to the extent contemplated by such supplemental indenture, the property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor trustee
relates. 
 (c)    Upon request of any such successor trustee, the Company shall execute any and all instruments
for more fully and certainly vesting in and confirming to such successor trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case may be. 

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

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

Section 7.12    Merger, Conversion, Consolidation or Succession to Business. 

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

Section 7.13    Preferential Collection of Claims Against the Company. 

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

Section 7.14    Notice of Default. 

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

  
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 ARTICLE 8 

CONCERNING THE SECURITYHOLDERS 

Section 8.01    Evidence of Action by Securityholders. 

Whenever in this Indenture it is provided that the holders of a majority or specified percentage in aggregate principal amount of the
Securities of a particular series may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at the time of taking any such action the holders of
such majority or specified percentage of that series have joined therein may be evidenced by any instrument or any number of instruments of similar tenor executed by such holders of Securities of that series in person or by agent or proxy appointed
in writing. 
 If the Company shall solicit from the Securityholders of any series any request, demand, authorization, direction, notice,
consent, waiver or other action, the Company may, at its option, as evidenced by an Officer’s Certificate, fix in advance a record date for such series for the determination of Securityholders entitled to give such request, demand,
authorization, direction, notice, consent, waiver or other action, but the Company shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other action may be
given before or after the record date, but only the Securityholders of record at the close of business on the record date shall be deemed to be Securityholders for the purposes of determining whether Securityholders of the requisite proportion of
Outstanding Securities of that series have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other action, and for that purpose the Outstanding Securities of that series shall be computed
as of the record date; provided, however, that no such authorization, agreement or consent by such Securityholders on the record date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later
than six months after the record date. 
 Section 8.02    Proof of Execution by Securityholders. 

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

(a)    The fact and date of the execution by any such Person of any instrument may be proved in any reasonable
manner acceptable to the Trustee. 
 (b)    The ownership of Securities shall be proved by the Security Register
of such Securities or by a certificate of the Security Registrar thereof. 
 The Trustee may require such additional proof of any matter referred to in this
Section as it shall deem necessary. 

  
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 Section 8.03    Who May be Deemed Owners. 

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

Section 8.04    Certain Securities Owned by Company Disregarded. 

In determining whether the holders of the requisite aggregate principal amount of Securities of a particular series have concurred in any
direction, consent or waiver under this Indenture, the Securities of that series that are owned by the Company or any other obligor on the Securities of that series or by any Person directly or indirectly controlling or controlled by or under common
control with the Company or any other obligor on the Securities of that series shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that for the purpose of determining whether the Trustee shall be
protected in relying on any such direction, consent or waiver, only Securities of such series that the Trustee actually knows are so owned shall be so disregarded. The Securities so owned that have been pledged in good faith may be regarded as
Outstanding for the purposes of this Section, if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not a Person directly or indirectly
controlling or controlled by or under direct or indirect common control with the Company or any such other obligor. In case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the
Trustee. 
 Section 8.05    Actions Binding on Future Securityholders. 

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

  
 38 

 ARTICLE 9 

SUPPLEMENTAL INDENTURES 

Section 9.01    Supplemental Indentures without the Consent of Securityholders. 

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

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

(b)    to comply with Article Ten; 

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

(d)    to add to the covenants, restrictions, conditions or provisions relating to the Company for the benefit of
the holders of all or any series of Securities (and if such covenants, restrictions, conditions or provisions are to be for the benefit of less than all series of Securities, stating that such covenants, restrictions, conditions or provisions are
expressly being included solely for the benefit of such series), to make the occurrence, or the occurrence and the continuance, of a default in any such additional covenants, restrictions, conditions or provisions an Event of Default, or to
surrender any right or power herein conferred upon the Company; 
 (e)    to add to, delete from or revise the
conditions, limitations and restrictions on the authorized amount, terms or purposes of issue, authentication and delivery of Securities, as herein set forth; 

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

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

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

(i)    to comply with any requirements of the Commission or any successor in connection with the qualification of
this Indenture under the Trust Indenture Act. 
 The Trustee is hereby authorized to join with the Company in the execution of any such
supplemental indenture, and to make any further appropriate agreements and stipulations that 

  
 39 

 
may be therein contained, but the Trustee shall not be obligated to enter into any such supplemental indenture that affects the Trustee’s own rights, duties or immunities under this
Indenture or otherwise. 
 Any supplemental indenture authorized by the provisions of this Section may be executed by the Company and the
Trustee without the consent of the holders of any of the Securities at the time Outstanding, notwithstanding any of the provisions of Section 9.02. 

Section 9.02    Supplemental Indentures with Consent of Securityholders. 

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

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

Section 9.03    Effect of Supplemental Indentures. 

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

Section 9.04    Securities Affected by Supplemental Indentures. 

Securities of any series affected by a supplemental indenture, authenticated and delivered after the execution of such supplemental indenture
pursuant to the provisions of this Article or of Section 10.01, may bear a notation in form approved by the Company, provided such form meets the requirements of any securities exchange upon which such series may be listed, as to any matter
provided for in such supplemental indenture. If the Company shall so determine, new 

  
 40 

 
Securities of that series so modified as to conform, in the opinion of the Board of Directors, to any modification of this Indenture contained in any such supplemental indenture may be prepared
by the Company, authenticated by the Trustee and delivered in exchange for the Securities of that series then Outstanding. 

Section 9.05    Execution of Supplemental Indentures. 

Upon the request of the Company, accompanied by its Board Resolutions authorizing the execution of any such supplemental indenture, and upon
the filing with the Trustee of evidence of the consent of Securityholders required to consent thereto as aforesaid, the Trustee shall join with the Company in the execution of such supplemental indenture unless such supplemental indenture affects
the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion but shall not be obligated to enter into such supplemental indenture. The Trustee, subject to the provisions of
Section 7.01, shall receive an Officer’s Certificate or an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant to this Article is authorized or permitted by the terms of this Article and that all
conditions precedent to the execution of the supplemental indenture have been complied with; provided, however, that such Officer’s Certificate or Opinion of Counsel need not be provided in connection with the execution of a supplemental
indenture that establishes the terms of a series of Securities pursuant to Section 2.01 hereof. 
 Promptly after the execution by the
Company and the Trustee of any supplemental indenture pursuant to the provisions of this Section, the Company shall (or shall direct the Trustee to) send a notice, setting forth in general terms the substance of such supplemental indenture, to the
Securityholders of all series affected thereby .as their names and addresses appear upon the Security Register. Any failure of the Company to send, or cause the sending of, such notice, or any defect therein, shall not, however, in any way impair or
affect the validity of any such supplemental indenture. 
 ARTICLE 10 

SUCCESSOR ENTITY 

Section 10.01    Company May Consolidate, Etc. 

Nothing contained in this Indenture shall prevent any consolidation or merger of the Company with or into any other Person (whether or not
affiliated with the Company) or successive consolidations or mergers in which the Company or its successor or successors shall be a party or parties, or shall prevent any sale, conveyance, transfer or other disposition of the property of the Company
or its successor or successors as an entirety, or substantially as an entirety, to any other Person (whether or not affiliated with the Company or its successor or successors); provided, however, the Company hereby covenants and agrees that, upon
any such consolidation or merger (in each case, if the Company is not the survivor of such transaction) or any such sale, conveyance, transfer or other disposition (other than a sale, conveyance, transfer or other disposition to a Subsidiary of the
Company), the due and punctual payment of the principal of (premium, if any) and interest on all of the Securities of all series in accordance with the terms of each series, according to their tenor, and the due and punctual performance and

  
 41 

 
observance of all the covenants and conditions of this Indenture with respect to each series or established with respect to such series pursuant to Section 2.01 to be kept or performed by
the Company shall be expressly assumed, by supplemental indenture (which shall conform to the provisions of the Trust Indenture Act, as then in effect) reasonably satisfactory in form to the Trustee executed and delivered to the Trustee by the
entity formed by such consolidation, or into which the Company shall have been merged, or by the entity which shall have acquired such property. 

Section 10.02    Successor Entity Substituted. 

(a)    In case of any such consolidation, merger, sale, conveyance, transfer or other disposition and upon the
assumption by the successor entity by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the obligations set forth under Section 10.01 on all of the Securities of all series Outstanding,
such successor entity shall succeed to and be substituted for the Company with the same effect as if it had been named as the Company herein, and thereupon the predecessor corporation shall be relieved of all obligations and covenants under this
Indenture and the Securities. 
 (b)    In case of any such consolidation, merger, sale, conveyance, transfer or
other disposition, such changes in phraseology and form (but not in substance) may be made in the Securities thereafter to be issued as may be appropriate. 

(c)    Nothing contained in this Article shall require any action by the Company in the case of a consolidation or
merger of any Person into the Company where the Company is the survivor of such transaction, or the acquisition by the Company, by purchase or otherwise, of all or any part of the property of any other Person (whether or not affiliated with the
Company). 
 ARTICLE 11 

SATISFACTION AND DISCHARGE 

Section 11.01    Satisfaction and Discharge of Indenture. 

If at any time: (a) the Company shall have delivered to the Trustee for cancellation all Securities of a series theretofore authenticated
and not delivered to the Trustee for cancellation (other than any Securities that shall have been destroyed, lost or stolen and that shall have been replaced or paid as provided in Section 2.07 and Securities for whose payment money or
Governmental Obligations have theretofore been deposited in trust or segregated and held in trust by the Company and thereupon repaid to the Company or discharged from such trust, as provided in Section 11.05); or (b) all such Securities
of a particular series not theretofore delivered to the Trustee for cancellation shall have become due and payable, or are by their terms to become due and payable within one year or are to be called for redemption within one year under arrangements
satisfactory to the Trustee for the giving of notice of redemption, and the Company shall deposit or cause to be deposited with the Trustee as trust funds the entire amount in moneys or Governmental Obligations or a combination thereof, sufficient
in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay at maturity or upon redemption all Securities of that

  
 42 

 
series not theretofore delivered to the Trustee for cancellation, including principal (and premium, if any) and interest due or to become due to such date of maturity or date fixed for
redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums payable hereunder with respect to such series by the Company then this Indenture shall thereupon cease to be of further effect with respect to such
series except for the provisions of Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03, 7.10, 11.05 and 13.04, that shall survive until the date of maturity or redemption date, as the case may be, and Sections 7.06 and 11.05, that shall survive to such
date and thereafter, and the Trustee, on demand of the Company and at the cost and expense of the Company shall execute proper instruments acknowledging satisfaction of and discharging this Indenture with respect to such series. 

Section 11.02    Discharge of Obligations. 

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

Section 11.03    Deposited Moneys to be Held in Trust. 

All moneys or Governmental Obligations deposited with the Trustee pursuant to Sections 11.01 or 11.02 shall be held in trust and shall be
available for payment as due, either directly or through any paying agent (including the Company acting as its own paying agent), to the holders of the particular series of Securities for the payment or redemption of which such moneys or
Governmental Obligations have been deposited with the Trustee. 
 Section 11.04    Payment of Moneys Held by
Paying Agents. 
 In connection with the satisfaction and discharge of this Indenture all moneys or Governmental Obligations then held
by any paying agent under the provisions of this Indenture shall, upon demand of the Company, be paid to the Trustee and thereupon such paying agent shall be released from all further liability with respect to such moneys or Governmental
Obligations. 

  
 43 

 Section 11.05    Repayment to Company. 

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

ARTICLE 12 
 IMMUNITY OF
INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS 
 Section 12.01    No Recourse. 

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

  
 44 

 ARTICLE 13 

MISCELLANEOUS PROVISIONS 

Section 13.01    Effect on Successors and Assigns. 

All the covenants, stipulations, promises and agreements in this Indenture made by or on behalf of the Company shall bind its successors and
assigns, whether so expressed or not. 
 Section 13.02    Actions by Successor. 

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

Section 13.03    Surrender of Company Powers. 

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

Section 13.04    Notices. 

Except as otherwise expressly provided herein, any notice, request or demand that by any provision of this Indenture is required or permitted
to be given, made or served by the Trustee, the Security Registrar, any paying or other agent under this Indenture or by the holders of Securities or by any other Person pursuant to this Indenture to or on the Company may be given or served by being
deposited in first class mail, postage prepaid, addressed (until another address is filed in writing by the Company with the Trustee), as
follows:                                . Any notice, election, request or demand by the
Company or any Securityholder or by any other Person pursuant to this Indenture to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or made in writing at the Corporate Trust Office of the
Trustee. 
 Section 13.05    Governing Law; Jury Trial Waiver. 

This Indenture and each Security shall be governed by, and construed in accordance with, the internal laws of the State of New York, except to
the extent that the Trust Indenture Act is applicable. 
 EACH PARTY HERETO, AND EACH HOLDER OF A SECURITY BY ACCEPTANCE THEREOF, HEREBY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS INDENTURE. 

  
 45 

 Section 13.06    Treatment of Securities as Debt. 

It is intended that the Securities will be treated as indebtedness and not as equity for federal income tax purposes. The provisions of this
Indenture shall be interpreted to further this intention. 
 Section 13.07    Certificates and Opinions as to
Conditions Precedent. 
 (a)    Upon any application or demand by the Company to the Trustee to take any
action under any of the provisions of this Indenture, the Company shall furnish to the Trustee an Officer’s Certificate stating that all conditions precedent provided for in this Indenture (other than the certificate to be delivered pursuant to
Section 13.12) relating to the proposed action have been complied with and, if requested, an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent have been complied with, except that in the case of any
such application or demand as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular application or demand, no additional certificate or opinion need be furnished. 

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

Section 13.08    Payments on Business Days. 

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

  
 46 

 Section 13.09    Conflict with Trust Indenture Act. 

If and to the extent that any provision of this Indenture limits, qualifies or conflicts with the duties imposed by Section 318(c) of the
Trust Indenture Act, such imposed duties shall control. 
 Section 13.10    Counterparts. 

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

Section 13.11    Severability. 

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

Section 13.12    Compliance Certificates. 

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

Section 13.13    U.S.A. Patriot Act. 

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

  
 47 

 Section 13.14    Force Majeure. 

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

Section 13.15    Table of Contents; Headings. 

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

  
 48 

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

			
	PERSONALIS, INC.

 
			
		
	By:	 	  

 
			
		
	Name:	 	  

 
			
		
	Title:	 	  

 
			
	
	[TRUSTEE], as Trustee

 
			
		
	By:	 	  

 
			
		
	Name:	 	  

 
			
		
	Title:	 	  

 CROSS-REFERENCE TABLE (1) 
  

			
	
Section of Trust Indenture Act of 1939, as 
Amended
	  	Section of Indenture
	 310(a)
	  	7.09
	 310(b)
	  	7.08
		  	7.10
	 310(c)
	  	Inapplicable
	 311(a)
	  	7.13
	 311(b)
	  	7.13
	 311(c)
	  	Inapplicable
	 312(a)
	  	5.01
		  	5.02(a)
	 312(b)
	  	5.02(c)
	 312(c)
	  	5.02(c)
	 313(a)
	  	5.04(a)
	 313(b)
	  	5.04(b)
	 313(c)
	  	5.04(a)
		  	5.04(b)
	 313(d)
	  	5.04(c)
	 314(a)
	  	5.03
		  	13.12
	 314(b)
	  	Inapplicable
	 314(c)
	  	13.07(a)
	 314(d)
	  	Inapplicable
	 314(e)
	  	13.07(b)
	 314(f)
	  	Inapplicable
	 315(a)
	  	7.01(a)
		  	7.01(b)
	 315(b)
	  	7.14
	 315(c)
	  	7.01
	 315(d)
	  	7.01(b)
	 315(e)
	  	6.07
	 316(a)
	  	6.06
		  	8.04
	 316(b)
	  	6.04
	 316(c)
	  	8.01
	 317(a)
	  	6.02
	 317(b)
	  	4.03
	 318(a)
	  	13.09

  

	(1)	 This Cross-Reference Table does not constitute part of the Indenture and shall not have any bearing on the
interpretation of any of its terms or provisions.

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