<SEC-DOCUMENT>0001552781-25-000022.txt : 20250205
<SEC-HEADER>0001552781-25-000022.hdr.sgml : 20250205
<ACCEPTANCE-DATETIME>20250205170056
ACCESSION NUMBER:		0001552781-25-000022
CONFORMED SUBMISSION TYPE:	S-3ASR
PUBLIC DOCUMENT COUNT:		20
FILED AS OF DATE:		20250205
DATE AS OF CHANGE:		20250205
EFFECTIVENESS DATE:		20250205

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FRANKLIN RESOURCES INC
		CENTRAL INDEX KEY:			0000038777
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				132670991
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		S-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-284711
		FILM NUMBER:		25594192

	BUSINESS ADDRESS:	
		STREET 1:		ONE FRANKLIN PARKWAY
		STREET 2:		BUILDING 920/2, LEGAL-FRI SECRETARY
		CITY:			SAN MATEO
		STATE:			CA
		ZIP:			94403
		BUSINESS PHONE:		650-312-2000

	MAIL ADDRESS:	
		STREET 1:		FRANKLIN RESOURCES INC
		STREET 2:		ONE FRANKLIN PARKWAY
		CITY:			SAN MATEO
		STATE:			CA
		ZIP:			94403
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3ASR
<SEQUENCE>1
<FILENAME>e25030_ben-s3asr.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom-width: 0in; border-bottom-color: Black"><FONT STYLE="font-size: 10pt"><B>As
filed with the Securities and Exchange Commission on February 5, 2025 </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>Registration
No. 333-</B></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-size: 10pt"></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-top-width: 0in; border-top-color: Black"><FONT STYLE="font-size: 14pt"><B>UNITED
STATES </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>SECURITIES
AND EXCHANGE COMMISSION </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>WASHINGTON,
D.C. 20549</B></FONT><B><FONT STYLE="font-size: 10pt"> </FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom-width: 0in; border-bottom-color: Black"><FONT STYLE="font-size: 10pt">____________________________</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0 0; text-align: center"><FONT STYLE="font-size: 18pt"><B>FORM
S-3 </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>REGISTRATION
STATEMENT </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">UNDER</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">THE SECURITIES
ACT OF 1933</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">____________________________</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 24pt"><B>FRANKLIN RESOURCES,
INC. </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">(Exact Name of
Registrant as Specified in Its Charter)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">_______________________</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>13-2670991</B></FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">(State
    or Other Jurisdiction of Incorporation or Organization)</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S.
    Employer Identification No.)</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>One Franklin
Parkway </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>San Mateo,
California 94403 </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>(650) 312-2000
</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">(Address, including
zip code, and telephone number, including area code, of registrant&rsquo;s principal executive offices)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom-width: 0in; border-bottom-color: Black"><FONT STYLE="font-size: 10pt">___________________________</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Thomas C.
Merchant</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Executive
Vice President, General Counsel and Assistant Secretary</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>One Franklin
Parkway </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>San Mateo,
California 94403 </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>(650) 312-2000
</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">(Name, address,
including zip code, and telephone number, including area code, of agent for service)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom-width: 0in; border-bottom-color: Black"><FONT STYLE="font-size: 10pt">____________________________</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0 0; text-align: center"><FONT STYLE="font-size: 10pt"><I>Copies to:
</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Michael P.
Reed</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Covington&nbsp;&amp; Burling LLP</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>The New York
Times Building</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>620 Eighth
Avenue</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>New York,
NY 10018</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>(212) 841-1000
</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom-width: 0in; border-bottom-color: Black"><FONT STYLE="font-size: 10pt">____________________________</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0"><FONT STYLE="font-size: 10pt"><B>Approximate date of commencement
of proposed sale of the securities to the public: </B>From time to time after the effective date of this Registration Statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><FONT STYLE="font-size: 10pt">If the only securities being registered
on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box. <FONT STYLE="font-family: Wingdings">o</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><FONT STYLE="font-size: 10pt">If any of the securities being registered
on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than
securities offered only in connection with dividend or interest reinvestment plans, check the following box. <FONT STYLE="font-family: Wingdings">x</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><FONT STYLE="font-size: 10pt">If this Form is filed to register
additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list
the Securities Act registration statement number of the earlier effective registration statement for the same offering. <FONT STYLE="font-family: Wingdings">o</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">If this Form is a post-effective
amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration
statement number of the earlier effective registration statement for the same offering. <FONT STYLE="font-family: Wingdings">o</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">If this Form is a registration statement
pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission
pursuant to Rule 462(e) under the Securities Act, check the following box. <FONT STYLE="font-family: Wingdings">x </FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>








<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom-width: 0in; border-bottom-color: Black"><FONT STYLE="font-size: 10pt">If
this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register
additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following
box. <FONT STYLE="font-family: Wingdings">o</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom-width: 0in; border-bottom-color: Black"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Indicate by check mark whether the
registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging
growth company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller
reporting company&rdquo; and &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the Exchange Act.</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="3" STYLE="padding: 0 0.25pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 31%; padding: 0 0.25pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="width: 31%; padding: 0 0.25pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="width: 38%; padding: 0 0.25pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding: 0 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Large accelerated filer
    <FONT STYLE="font-family: Wingdings">x</FONT></FONT></td>
    <TD STYLE="padding: 0 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="padding: 0 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Accelerated filer <FONT STYLE="font-family: Wingdings">o</FONT></FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="padding: 0 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Non-accelerated
    filer <FONT STYLE="font-family: Wingdings">o </FONT>(Do not check if a smaller reporting company)</FONT></td>
    <TD STYLE="padding: 0 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Smaller reporting company
    <FONT STYLE="font-family: Wingdings">o</FONT></FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding: 0 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="padding: 0 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="padding: 0 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Emerging growth company
    <FONT STYLE="font-family: Wingdings">o</FONT></FONT></td></tr>
</table>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 7(a)(2)(B) of Securities Act. <FONT STYLE="font-family: Wingdings">o</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>





<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><B>PROSPECTUS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;<IMG SRC="e25030_001.jpg" ALT=""></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Common Stock
</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Preferred
Stock </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Debt Securities</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Warrants </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Depositary
Shares</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Units</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Stock
Purchase Contracts </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We may
offer and sell shares of our common stock, shares of our preferred stock, debt securities, warrants, depositary shares, units
or stock purchase contracts, together or separately, from time to time in amounts, at prices and on terms that will be determined
at the time of any such offering. The preferred stock, debt securities, warrants, units and stock purchase contracts may be convertible
or exercisable or exchangeable for common stock, preferred stock, debt securities or other securities or property.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">This prospectus
provides you with a general description of the securities we may offer. Each time we offer securities for sale, we will provide
a supplement to this prospectus that contains specific information about the offering and the terms of the securities being offered.
A prospectus supplement may also add to or update information contained in this prospectus. This prospectus may not be used to
offer or sell securities unless accompanied by an applicable prospectus supplement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">You should
carefully read this prospectus and the applicable supplement, together with the documents we incorporate by reference, before
you invest in any securities that we offer for sale.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We may offer
and sell these securities to or through one or more underwriters, dealers and agents, directly to purchasers, or through a combination
of these methods on an immediate, continuous or delayed basis. You can find additional information about our plan of distribution for
the securities under the heading &ldquo;Plan of Distribution&rdquo; beginning on page 22 of this prospectus. We will identify
any underwriters, dealers and agents and describe the plan of distribution for any particular offering of these securities in the applicable
prospectus supplement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Our common
stock is listed on the New York Stock Exchange under the symbol &ldquo;BEN.&rdquo; Each prospectus supplement will indicate if
the securities offered thereby will be listed on any securities exchange.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt">_____________________</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>Investing
in our securities involves risks. Before buying our securities, you should carefully read and consider the risks we describe in this
prospectus and in the applicable prospectus supplement, as well as the risk factors that are incorporated by reference into this prospectus
and the applicable prospectus supplement from our filings made with the Securities and Exchange Commission. See &ldquo;Risk Factors&rdquo;
beginning on page 5 of this prospectus. </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>Neither
the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or
passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense. </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt">________________________</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>The date of
this prospectus is February 5, 2025. </B>&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->





<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>TABLE OF CONTENTS<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>
</SUP></FONT></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 95%; font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_001"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ABOUT THIS PROSPECTUS</FONT></A></TD>
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_002"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">FORWARD-LOOKING INFORMATION</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_015"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">WHERE YOU CAN FIND MORE INFORMATION</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_003"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">OUR COMPANY</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_004"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">RISK FACTORS</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_005"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">USE OF PROCEEDS</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_006"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">DESCRIPTION OF CAPITAL STOCK</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_007"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">DESCRIPTION OF DEBT SECURITIES</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_008"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">DESCRIPTION OF WARRANTS</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">16</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_009"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">DESCRIPTION OF DEPOSITARY SHARES</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">17</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_010"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">DESCRIPTION OF UNITS</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">20</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_011"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">DESCRIPTION OF STOCK PURCHASE CONTRACTS</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">21</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_012"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">PLAN OF DISTRIBUTION</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">22</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_013"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">LEGAL MATTERS</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">24</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_014"><FONT STYLE="font-size: 10pt">EXPERTS</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">24</FONT></TD></TR>
</TABLE>




<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->i<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_001"></A>ABOUT
THIS PROSPECTUS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">This prospectus
is part of an automatic shelf registration statement on Form S-3 that we filed with the Securities and Exchange Commission (the
&ldquo;SEC&rdquo;) as a &ldquo;well-known seasoned issuer&rdquo; as defined in Rule 405 under the Securities Act of 1933, as amended
(the &ldquo;Securities Act&rdquo;). Under this shelf registration process we may, from time to time, offer and sell any combination
of shares of our common stock, shares of our preferred stock, debt securities described in this prospectus in one or more offerings,
warrants, depositary shares, units or stock purchase contracts in amounts, at prices and on terms that we determine at the time
of the offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">This prospectus
provides you with a general description of the securities that we may offer. Each time that we offer securities under the registration
statement of which this prospectus forms a part we will describe in a prospectus supplement, which will be delivered with this
prospectus, specific information about the offering and the terms of the particular securities offered. The specific terms of
the offered securities may vary from the general terms of the securities described in this prospectus, and accordingly the description
of the securities contained in this prospectus is subject to, and qualified by reference to, the specific terms of the offered
securities contained in the applicable prospectus supplement. The prospectus supplement also may add, update or change information
contained in this prospectus. Before making an investment decision, you should read carefully both this prospectus and any prospectus
supplement together with the documents incorporated by reference as described below under the heading &ldquo;Where You Can Find
More Information.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">This prospectus
does not contain all of the information included in the registration statement. For a more complete understanding of the offering
of the securities, you should refer to the registration statement, including the exhibits thereto. Those exhibits may be filed
with the registration statement or may be incorporated by reference to earlier SEC filings listed in the registration statement
or in subsequent filings that we may make under the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>We
have not authorized anyone to provide you with information in addition to or different from that contained in this prospectus
or any applicable prospectus supplement or free writing prospectus. We take no responsibility for, and can provide no assurance
as to the reliability of, any information that others may provide. We will be offering to sell, and seeking offers to buy, the
securities only in jurisdictions where offers and sales are permitted. You should not assume that the information in this prospectus,
any applicable prospectus supplement or any free writing prospectus that we have prepared is accurate as of any date other than
the date of those documents, and that any information in documents that we have incorporated by reference is accurate as of any
date other than the date of the document incorporated by reference, regardless of the time of delivery of this prospectus or any
prospectus supplement or any sale of a security. Our business, financial condition, results of operations and prospects may have
changed since those dates.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Unless
otherwise expressly stated herein or the context otherwise requires, all references in this prospectus to &ldquo;Franklin Resources,&rdquo;
&ldquo;we,&rdquo; &ldquo;us,&rdquo; &ldquo;our,&rdquo; &ldquo;our company&rdquo; or &ldquo;the company&rdquo; refer to Franklin
Resources, Inc., a Delaware corporation and its direct and indirect subsidiaries on a consolidated basis.</FONT></P>


<!-- Field: Page; Sequence: 4; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_002"></A>FORWARD-LOOKING
INFORMATION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Some of
the statements included in this prospectus, any accompanying prospectus supplement and the documents incorporated by reference
herein and therein, may include forward-looking statements that reflect the Company&rsquo;s current views with respect to future
events and financial performance that are provided under the &ldquo;safe harbor&rdquo; protection of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts
and generally can be identified by words or phrases generally written in the future tense and/or preceded by words such as &ldquo;anticipate,&rdquo;
&ldquo;believe,&rdquo; &ldquo;could,&rdquo; &ldquo;depends,&rdquo; &ldquo;estimate,&rdquo; &ldquo;expect,&rdquo; &ldquo;intend,&rdquo;
&ldquo;likely,&rdquo; &ldquo;may,&rdquo; &ldquo;plan,&rdquo; &ldquo;potential,&rdquo; &ldquo;seek,&rdquo; &ldquo;should,&rdquo;
&ldquo;will,&rdquo; &ldquo;would&rdquo; or other similar words or variations thereof, or the negative thereof, but these terms
are not the exclusive means of identifying such statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Forward-looking
statements involve a number of known and unknown risks, uncertainties and other important factors that may cause actual results
and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements.
The forward-looking statements herein are qualified in their entirety by reference to the risks and uncertainties disclosed in
the applicable prospectus supplement and our filings with the SEC that are incorporated by reference herein and therein, including
those discussed in such filings under the headings &ldquo;Risk Factors,&rdquo; &ldquo;Management&rsquo;s Discussion and Analysis
of Financial Condition,&rdquo; and &ldquo;Quantitative and Qualitative Disclosures About Market Risk.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">While
forward-looking statements are our best prediction at the time that they are made, you should not rely on them and are cautioned
against doing so. Forward-looking statements are based on our current expectations and assumptions regarding our business, the
economy and other possible future conditions. Because forward-looking statements relate to the future, they are subject to inherent
uncertainties, risks and changes in circumstances that are difficult to predict. They are neither statements of historical fact
nor guarantees or assurances of future performance. Factors or events that could cause our actual results to differ may emerge
from time to time, and it is not possible for us to predict all of them.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">If a circumstance
occurs after the date of this prospectus that causes any of our forward-looking statements to be inaccurate, whether as a result
of new information, future developments or otherwise, we undertake no obligation to announce publicly the change to our expectations,
or to make any revision to our forward-looking statements, to reflect any change in assumptions, beliefs or expectations, or any
change in events, conditions or circumstances upon which any forward-looking statement is based, unless required by law.</FONT></P>


<!-- Field: Page; Sequence: 5; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_015"></A>WHERE
YOU CAN FIND MORE INFORMATION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We are
subject to the information reporting requirements of the Exchange Act and, accordingly, we file annual, quarterly and current
reports, proxy statements and other information with the SEC. Our filings with the SEC are available on the SEC&rsquo;s website
at www.sec.gov and on our website at www.franklinresources.com as soon as reasonably practicable after we electronically file
such material with, or furnish it to, the SEC. However, the information on our website is not incorporated by reference in, and
is not a part of, this prospectus, any prospectus supplement or our SEC filings.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The SEC
allows us to &ldquo;incorporate by reference&rdquo; into this prospectus information that we file with the SEC, which means that
we can disclose important information to you by referring you to those documents. The information incorporated by reference is
an important part of this prospectus, and information that we subsequently file with the SEC will automatically update and supersede
this information. The following documents that we previously filed with the SEC (File No. 001-09318) are incorporated by reference
herein:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">our
                                         Annual Report on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/38777/000003877724000206/ben-20240930.htm">Form 10-K</A> for the fiscal year ended September 30, 2024, which was filed
                                         with the SEC on November 12, 2024;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; background-color: white">those
                                            portions of our definitive Proxy </FONT>Statement on&nbsp;<A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/38777/000114036124050019/ny20036387x1_def14a.htm">Schedule 14A</A>&nbsp;filed w<FONT STYLE="font-size: 10pt; background-color: white">ith
                                            the SEC on December 20, 2024 which were incorporated by reference into Part III of our Annual
                                            Report on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/38777/000003877724000206/ben-20240930.htm">Form&nbsp;10-K</A>&nbsp;for the fiscal year ended September 30, 2024; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">our
                                            Quarterly Report on <A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/38777/000003877725000017/ben-20241231.htm">Form 10-Q</A> for the period ended December 31, 2024, which was filed with
                                            the SEC on January 31, 2025; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         description of our common stock contained in <A HREF="https://www.sec.gov/Archives/edgar/data/38777/000003877720000203/exhibit41693020.htm">Exhibit 4.16 to our Annual Report on Form 10-K</A> for the fiscal year ended September 30, 2020, which was filed with the SEC on November
                                         23, 2020, including any further amendment or report filed for the purpose of updating
                                         that description.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Whenever
after the date of this prospectus and prior to the termination of this offering we file reports or documents with the SEC under
Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, those reports and documents will be incorporated by reference into this
prospectus and will be deemed to be a part of this prospectus from the time they are filed (excluding any portions of such documents
that are deemed to have been &ldquo;furnished,&rdquo; rather than &ldquo;filed,&rdquo; under SEC rules). Any statement made in
this prospectus or in a document incorporated or deemed to be incorporated by reference in this prospectus will be deemed to be
modified or superseded for purposes of this prospectus to the extent that a statement contained in this prospectus or in any other
subsequently filed document that is also incorporated or deemed to be incorporated by reference in this prospectus modifies or
supersedes that statement. Any statement so modified or superseded will not be deemed, except as so modified or superseded, to
constitute a part of this prospectus.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Any statement
made in this prospectus concerning the contents of any contract, agreement or other document is only a summary of the actual document.
If we have filed any contract, agreement or other document as an exhibit to the registration statement, you should read the exhibit
for a more complete understanding of the document or matter involved. Each statement regarding a contract, agreement or other
document is qualified in its entirety by reference to the actual document.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We will
provide without charge to each person, including any beneficial owner, to whom this prospectus is delivered, upon written or oral
request, a copy of any or all of the foregoing documents, and any other documents that are, incorporated herein by reference (other
than exhibits unless we specifically have incorporated those exhibits by reference in this prospectus or an accompanying prospectus
supplement). Requests for such documents should be directed to our principal executive office, located at:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">Franklin Resources,
Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">One Franklin
Parkway</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">San Mateo, California
94403</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">Attention: Corporate
Secretary</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">Telephone: (650)
312-2000</FONT></P>



<!-- Field: Page; Sequence: 6; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_003"></A>OUR
COMPANY</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We are
a holding company with subsidiaries operating under our Franklin Templeton&reg; and/or subsidiary brand names. Our common stock
is traded on the NYSE under the ticker symbol &ldquo;BEN&rdquo; and is included in the Standard &amp; Poor&rsquo;s 500 Index.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We offer
our services and products under our various distinct brand names, including, but not limited to, Alcentra&reg;, Benefit Street
Partners&reg;, Brandywine Global Investment Management&reg;, Canvas&reg;,&nbsp;Clarion Partners&reg;, ClearBridge Investments&reg;,
Fiduciary Trust International&trade;, Franklin&reg;, Franklin Mutual Series&reg;, K2&reg;, Legg Mason&reg;, Lexington Partners&reg;,
Martin Currie&reg;, O&rsquo;Shaughnessy&reg;, Putnam&reg;, Royce&reg;, Templeton&reg; and Western Asset Management Company&reg;.
Unless otherwise indicated, our &ldquo;funds&rdquo; means the funds offered under our various brand names.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We are
a global investment management organization with over $1.6 trillion in assets under management (&ldquo;AUM&rdquo;) as of September
30, 2024. Our mission is to help clients achieve better outcomes through investment management expertise, wealth management and
technology solutions. Through our specialist investment managers, we offer specialization on a global scale bringing extensive
capabilities in equity, fixed income, alternatives and multi-asset solutions. For over 75 years, we have been committed to providing
clients with exceptional investment management services and have developed a globally diversified business, including through
strategic acquisitions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We provide
our investment management and related services to retail, institutional and high-net-worth investors in jurisdictions worldwide.
We deliver our investment capabilities through a variety of products and vehicles and multiple points of access, including directly
to investors and through financial intermediaries. Our investment products include our sponsored funds, as well as institutional
and high-net-worth separate accounts, retail separately managed account programs, sub-advised products, and other investment vehicles.
Our funds include registered funds (including exchange-traded funds) and unregistered funds. Related services include fund administration,
sales and distribution, and shareholder servicing. We may perform services directly or through third parties. We also provide
sub-advisory services to certain investment products sponsored by other companies that may be sold to investors under the brand
names of those other companies or on a co-branded basis.</FONT></P>


<!-- Field: Page; Sequence: 7; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_004"></A>RISK
FACTORS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Investing
in our securities involves risk. The prospectus supplement applicable to each offering of our securities will contain a discussion
of the risks applicable to an investment in our securities. Before deciding whether to invest in our securities, you should consider
carefully the risks described under the heading &ldquo;Risk Factors&rdquo; in the applicable prospectus supplement and in our
filings with the SEC that are incorporated by reference therein. Additional risks and uncertainties not presently known to us,
or that we currently view as immaterial, may also impair our business. If any of the risks or uncertainties described in our SEC
filings or any prospectus supplement or any additional risks and uncertainties actually occur, our business, financial condition
and results of operations could be materially and adversely affected.</FONT></P>



<!-- Field: Page; Sequence: 8; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_005"></A>USE
OF PROCEEDS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Unless
otherwise described in the applicable prospectus supplement, we intend to use the net proceeds from the sale of the securities
for general corporate purposes, which may include, but are not limited to, the financing of our operations, stock repurchases,
payment of dividends, the repayment or refinancing of outstanding indebtedness and the financing of acquisitions. We may provide
additional information on the use of net proceeds from the sale of the offered securities in the applicable prospectus supplement.</FONT></P>



<!-- Field: Page; Sequence: 9; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_006"></A>DESCRIPTION
OF CAPITAL STOCK</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The following
description is a general summary of the terms of the shares of common stock and shares of preferred stock that we may issue. The
description below and in any prospectus supplement does not include all of the terms of our common stock or preferred stock, and
should be read together with our Certificate of Incorporation, as amended (our &ldquo;Certificate of Incorporation&rdquo;), our
Amended and Restated Bylaws (our &ldquo;Bylaws&rdquo;) and applicable provisions of the Delaware General Corporation Law (the
&ldquo;DGCL&rdquo;). Our Certificate of Incorporation and Bylaws are incorporated by reference into the registration statement
of which this prospectus forms a part. For more information on how you can obtain copies of our Certificate of Incorporation and
Bylaws, see &ldquo;Where You Can Find More Information.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Our authorized
capital stock consists of 1,000,000,000 shares of common stock, par value $0.10 per share, and 1,000,000 shares of preferred stock,
par value $1.00 per share, issuable in one or more series from time to time by resolution of our board of directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Common Stock </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><I>General</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We have authority
to issue up to 1,000,000,000 shares of common stock, which we may issue directly or upon the exercise, conversion or exchange of another
security listed in this prospectus. As of January 31, 2025, we had 525,293,071 shares of common stock and no shares of preferred
stock issued and outstanding. Our common stock is listed on the New York Stock Exchange under the symbol &ldquo;BEN.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><I>Voting Rights</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Holders
of our common stock are entitled to one vote for each share that they hold and are vested with all of the voting power, except
as our board of directors may provide in the future with respect to any class or series of our preferred stock that it may authorize
in the future. Any action to be taken at a meeting of the stockholders may be taken without a meeting by written consent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><I>Dividend Rights</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Holders
of our common stock are entitled to receive dividends when, as and if declared by our board of directors out of any funds legally
available for dividends, subject to the preferences applicable to any shares of preferred stock outstanding at the time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><I>No Preemption, Conversion
or Redemption Rights; No Sinking Fund Provisions</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Shares
of our common stock are not redeemable and have no subscription, conversion or preemptive rights. There are no sinking fund provisions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><I>Right to Receive Liquidation
Distributions</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Holders
of our common stock are entitled, upon our liquidation, to share ratably in all assets remaining after payment of liabilities,
subject to the preferences applicable to any shares of preferred stock outstanding at the time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt"><I></I></FONT></P>

<!-- Field: Page; Sequence: 10; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><I>Anti-Takeover Effects of
Our Certificate of Incorporation and Bylaws</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The following
provisions of our Certificate of Incorporation and our Bylaws may have the effect of delaying, deferring or preventing a change
in control:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         board of directors may adopt, amend or repeal the Bylaws without stockholder approval;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         Bylaws specify advanced notice procedures that stockholders must follow in order to bring
                                         business as usual at an annual or special meeting of stockholders, and proxy access procedures
                                         for director nominations at annual meetings;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         Bylaws provide that the Chairman of the Board or the Chief Executive Officer of the Company
                                         shall call a special meeting of stockholders upon the written request of a stockholder,
                                         or group of stockholders, owning not less than 25% of the outstanding capital stock of
                                         the Company continuously for at least one year, provided that the stockholder or stockholders
                                         satisfy the procedural requirements specified in the Bylaws;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">vacancies
                                         on the board of directors may be filled by a majority vote of the remaining directors,
                                         even where less than a quorum, or by decision of the sole remaining director, or by a
                                         vote of the stockholders required for the election of directors generally;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         board of directors is authorized to issue preferred stock without stockholder approval;
                                         and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">we
                                         are incorporated in Delaware, and are thereby subject to the provisions of the DGCL,
                                         including Section 203 thereto regarding business combinations with an interested stockholder.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><I>Transfer Agent</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The transfer
agent, registrar and dividend disbursing agent for our common stock is Computershare Trust Company, N.A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Preferred Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><I>General</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Our board
of directors has authority to issue up to 1,000,000 shares of preferred stock, which may be issuable in one or more series, which
we may issue directly or upon the exercise, conversion, or exchange of debt securities or warrants. Our board of directors has
the authority to issue shares of preferred stock by resolution in one or more series of equal rank with such different series,
designations, preferences and other relative participating, optional or other special rights, and qualifications, limitations
and restrictions thereof, including the number of shares in each series, preferences upon liquidation or dissolution, dividend
and conversion rights and rates, and redemption provisions of the shares constituting any class or series, without any further
vote or action by the stockholders. Any shares of preferred stock so issued would have priority over the common stock with respect
to dividend or liquidation rights or both.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">In addition,
as described under &ldquo;Description of Depositary Shares,&rdquo; we may, instead of offering full shares of any series of preferred
stock, offer depositary shares evidenced by depositary receipts, each representing a fraction of a share of the particular series
of preferred stock issued and deposited with a depositary. The fraction of a share of preferred stock which each depositary share
represents will be set forth in the prospectus supplement relating to such depositary shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The terms
of any particular series of preferred stock will be described in the prospectus supplement relating to the offering of shares
of such series of preferred stock, including where applicable:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         series designation, stated value and liquidation preference of such preferred stock;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         number of shares offered and the offering price for such shares;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         dividend rate or rates, or method of calculation, the date or dates from which dividends
                                         will accrue, whether such dividends will be cumulative or non-cumulative and, if cumulative,
                                         the date or dates from which dividends will commence to cumulate;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">any
                                         redemption or sinking fund provisions;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         amount that shares of such series will be entitled to receive in the event of our liquidation,
                                         dissolution or winding-up;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         terms and conditions, if any, on which shares of such series will be convertible or exchangeable
                                         for shares of our common stock or any other class or classes of our securities, or other
                                         series of the same class;</FONT></TD></TR></TABLE>

<!-- Field: Page; Sequence: 11; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         voting rights, if any, of shares of such series in addition to those set forth under
                                         the caption entitled &ldquo;Voting Rights&rdquo; below;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         status as to reissuance or sale of shares of such series that are redeemed, purchased
                                         or otherwise reacquired, or surrendered to us on conversion or exchange;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         conditions and restrictions, if any, on the payment of dividends or on the making of
                                         other distributions on, or the purchase, redemption or other acquisition by us, of our
                                         common stock or of any other class of our stock ranking junior to the shares of such
                                         series as to dividends or upon liquidation (including, but not limited to, at such times
                                         as there are arrearages in the payment of dividends or sinking fund installments);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         conditions and restrictions, if any, on the creation of indebtedness, or on the issue
                                         of any additional stock ranking on a parity with or prior to the shares of such series
                                         as to dividends or upon liquidation; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">any
                                         other rights, preferences, privileges, limitations and restrictions of such preferred
                                         stock.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">If we
issue shares of preferred stock under this prospectus and any related prospectus supplement, the shares will be fully paid and
non-assessable and will not have, or be subject to, any preemptive or similar rights.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><I>Voting Rights</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The DGCL
provides that the holders of shares of preferred stock will have the right to vote separately as a class on any proposal involving
fundamental changes in the rights of holders of that preferred stock. This right is in addition to any voting rights that may
be provided for in the applicable certificate of designation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><I>Effects on Common Stock</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Our issuance
of preferred stock may decrease the amount of earnings and assets available for distribution to the holders of our common stock,
and could adversely affect the rights and powers, including voting rights, of the holders of our common stock. The issuance of
preferred stock could also have the effect of decreasing the market price of our common stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><I>Transfer Agent and Registrar</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The transfer
agent and registrar for any series of preferred stock will be set forth in the applicable prospectus supplement.</FONT></P>




<!-- Field: Page; Sequence: 12; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_007"></A>DESCRIPTION
OF DEBT SECURITIES</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We may
offer unsecured debt securities in one or more series which may be senior, subordinated or junior subordinated, and which may
be convertible into another security. Any debt securities offered hereby will be issued under an Indenture, dated as of October
6, 2020 (the &ldquo;Indenture&rdquo;), between us and The Bank of New York Mellon Trust Company, N.A., as trustee (the &ldquo;Trustee&rdquo;).
A copy of the Indenture is filed as an exhibit to the registration statement of which this prospectus constitutes a part. For
more information on how you can obtain a copy of the Indenture, see &ldquo;Where You Can Find More Information.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The particular
terms of the debt securities offered by any prospectus supplement will be described in the applicable prospectus supplement. The
following summary of certain provisions of the Indenture does not purport to be complete and is subject to, and is qualified in
its entirety by reference to, the terms of the Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>General </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The Indenture
does not limit the aggregate principal amount of debt securities which may be issued thereunder and provides that debt securities
may be issued from time to time in one or more series. The terms of any particular series of debt securities will be included
in a prospectus supplement and will provide for the following:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         title and series of the debt securities, including whether they are senior debt securities
                                         or subordinated debt securities, and the offering price of the debt securities;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">any
                                         limit on the aggregate principal amount of the debt securities;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         dates on which or periods during which the debt securities may be issued, and the dates
                                         on, or the range of dates within, which the principal of and premium, if any, on the
                                         debt securities are or may be payable or the method by which such date or dates will
                                         be determined or extended;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         rate or rates at which the debt securities will bear interest, if any, or the method
                                         by which such rate or rates will be determined, whether such interest will be payable
                                         in cash or additional debt securities of the same series or another class or series of
                                         securities or will accrue and increase the aggregate principal amount outstanding of
                                         such series, the date or dates from which such interest will accrue, or the method by
                                         which such date or dates will be determined, the interest payment dates on which any
                                         such interest will be payable, and the record dates for the determination of holders
                                         to whom interest is payable on such interest payment dates or the method by which such
                                         date or dates will be determined, the right, if any, to extend or defer interest payments
                                         and the duration of such extension or deferral;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">if
                                         other than U.S. dollars, the foreign currency in which the debt securities will be denominated
                                         or in which payment of the principal of, premium, if any, or interest on the debt securities
                                         will be payable and any other terms concerning such payment;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">if
                                         the amount of payment of principal of, premium, if any, or interest on the debt securities
                                         may be determined with reference to an index, formula or other method, the manner in
                                         which such amounts shall be determined;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">if
                                         the principal of, premium, if any, or interest on the debt securities of the series are
                                         to be payable, at the election of the Company or a holder thereof, in a currency other
                                         than that in which the debt securities are denominated or stated to be payable without
                                         such election, the period or periods within which, and the terms and conditions upon
                                         which, such election may be made and the time and the manner of determining the exchange
                                         rate between the currency in which the debt securities are denominated or payable without
                                         such election and the currency in which the debt securities are to be paid if such election
                                         is made;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         place or places, if any, in addition to or instead of the corporate trust office of the
                                         Trustee where the principal of, premium, if any, and interest on the debt securities
                                         will be payable, and where the debt securities may be presented for registration of transfer,
                                         exchange or conversion, and the place or places where notices and demands to or upon
                                         us in respect of the securities of such series may be made;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         price or prices at which, the period or periods within which or the date or dates on
                                         which, and the terms and conditions upon which the debt securities may be redeemed, in
                                         whole or in part, at our option, if we are to have that option;</FONT></TD></TR></TABLE>

<!-- Field: Page; Sequence: 13; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">redemption
                                         or early repayment provisions, including the price, period or date, currency and other
                                         terms and conditions upon which a series of debt securities may be redeemed, purchased
                                         or repaid, in whole or in part;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">if
                                         other than denominations of $2,000 or any integral multiple of $1,000 thereof, the denominations
                                         in which the debt securities will be issuable;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">if
                                         other than the principal amount thereof, the portion of the principal amount of the debt
                                         securities which will be payable upon declaration of acceleration of the maturity thereof;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         guarantors, if any, of the debt securities, and the extent of the guarantees (including
                                         provisions relating to seniority, subordination, and the release of the guarantors),
                                         if any, and any additions or changes to permit or facilitate guarantees of such debt
                                         securities;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">any
                                         original issue discount securities issued;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">provisions,
                                         if any, for the defeasance of the debt securities in whole or in part and any addition
                                         or change in the provisions related to satisfaction and discharge;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">whether
                                         the debt securities are to be issued in whole or in part in global form and, in such
                                         case, the depositary and the terms and conditions, if any, upon which interests in such
                                         global debt securities may be exchanged in whole or in part for the individual securities
                                         represented thereby in definitive form registered in the name or names of persons other
                                         than such depositary or a nominee or nominees thereof;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         date as of which any global debt securities will be dated if other than the original
                                         issuance of the first debt security to be issued;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         form of the debt securities;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">if
                                         the debt securities are to be convertible into or exchangeable for any securities or
                                         property of any person (including us), the terms and conditions upon which such debt
                                         securities will be so convertible or exchangeable, and any additions or changes, if any,
                                         to permit or facilitate such conversion or exchange;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">whether
                                         the debt securities are subject to subordination and the terms of such subordination;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">any
                                         restriction or condition on the transferability of the debt securities;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">any
                                         addition or change in the provisions related to compensation and reimbursement of the
                                         Trustee which applies to the debt securities;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">any
                                         addition or change in the provisions related to supplemental indentures both with and
                                         without the consent of the holders;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">provisions,
                                         if any, granting special rights to holders upon the occurrence of specified events;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">any
                                         addition to or change in the events of default which applies to any debt securities and
                                         any change in the right of the Trustee or the requisite holders of such debt securities
                                         to declare the principal amount thereof due and payable pursuant to the Indenture;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">any
                                         addition to or change in the covenants set forth in the Indenture which applies to debt
                                         securities;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         nature of any security relating to the debt securities or guarantees thereof; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">any
                                         other terms of the debt securities (which terms will not be inconsistent with the provisions
                                         of the Trust Indenture Act of 1939, as amended (the &ldquo;Trust Indenture Act&rdquo;),
                                         but may modify, amend, supplement or delete any of the terms of the Indenture with respect
                                         to such series).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Debt securities
may be issued as original issue discount securities to be sold at a substantial discount below their principal amount. In the
event of an acceleration of the maturity of any original issue discount security, the amount payable to the holder of the original
issue discount security upon such acceleration will be determined in accordance with the applicable prospectus supplement, the
terms of such debt security and the Indenture, but will be an amount less than the amount payable at the maturity of the principal
of such original issue discount security. Special federal income tax and other considerations applicable to the debt security
will be described in the related prospectus supplement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The Indenture
does not contain any provisions that would limit our ability to incur indebtedness or that would afford holders of debt securities
protection in the event of a highly leveraged or similar transaction involving us. Information with respect to any deletions from,
modifications of or additions to the events of default described below or our covenants contained in the Indenture, including
any addition of a covenant or other provision providing event risk or similar protection will be set forth in the prospectus supplement.</FONT></P>



<!-- Field: Page; Sequence: 14; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Registration, Transfer,
Payment and Paying Agent </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Unless
otherwise set forth in the applicable prospectus supplement, we will issue the debt securities of each series in denominations
of $2,000 and increments of $1,000 in excess thereof, or in such other currencies or denominations as may be set forth in the
applicable supplemental indenture or specified in, or pursuant to, an officer&rsquo;s certificate, if any, relating to such series
of debt securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The principal
of, premium, if any, and interest, on any series of debt securities will be payable at the corporate trust office of the Trustee,
the address of which will be stated in the applicable prospectus supplement. However, at our option, interest payment may be made
by check mailed to the address of the person entitled thereto as it appears in the applicable register for such debt securities.
We will make payments of principal, premium, if any, and interest on the debt securities represented by any global security registered
in the name of and held by The Depository Trust Company (&ldquo;DTC&rdquo;) or its nominee to DTC or its nominee, as the case
may be, as the registered owner and holder of such global security. Neither we, the Trustee nor any of its or our respective agents
will have any responsibility or liability for any aspect of records relating to, or payments made on account of, beneficial interests
in any global security or for maintaining, supervising or reviewing any records of DTC, its nominee or any participant relating
to such beneficial interests.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">No service
charge will be made for any registration of transfer or exchange, but we may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection with certain transfers and exchanges. We may act as registrar and may change
any registrar without notice.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Global Securities </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Unless
we inform you otherwise in the applicable prospectus supplement, the debt securities of a series may be issued in whole or in
part in the form of one or more global securities that will be deposited with, or on behalf of, a depositary identified in the
applicable prospectus supplement. Global securities will be issued in registered form and in either temporary or definitive form.
Unless and until it is exchanged in whole or in part for the individual debt securities, a global security may not be transferred
except as a whole by the depositary for such global security to a nominee of such depositary or by a nominee of such depositary
to such depositary or another nominee of such depositary or by such depositary or any such nominee to a successor of such depositary
or a nominee of such successor. The specific terms of the depositary arrangement with respect to any debt securities of a series
and the rights of and limitations upon owners of beneficial interests in a global security will be described in the applicable
prospectus supplement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Events of Default</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Unless
otherwise provided in the applicable prospectus supplement, the following are events of default under the Indenture with respect
to debt securities of any series:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">failure
                                         to pay any interest on any debt security of that series when due, which failure continues
                                         unremedied for a period of 30 days;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">failure
                                         to pay principal of and premium, if any, on any debt security of that series when due,
                                         whether at maturity, by call for redemption or otherwise;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">failure
                                         to deposit any sinking fund payment, when due, in respect of any debt security of that
                                         series, which failure continues unremedied for a period of 30 days;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">breach
                                         of any other covenant or warranty of ours in the Indenture (other than a covenant or
                                         warranty included in the Indenture solely for the benefit of series of debt securities
                                         other than that series), which failure continues unremedied for 90 days after a written
                                         notice of default is given by the Trustee or the holders of at least 25% in aggregate
                                         principal amount of the outstanding debt securities of such series as provided in the
                                         Indenture;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">if
                                         we are subject to certain events of bankruptcy, insolvency or reorganization; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">any
                                         other event of default provided with respect to debt securities of that series.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 15; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">If an
event of default with respect to debt securities of any series at the time outstanding occurs and is continuing, other than with
respect to the event of default described under the fifth bullet above, either the Trustee or the holders of at least 25% in aggregate
principal amount of the outstanding debt securities of that series may declare the principal amount of all the debt securities
of that series to be due and payable immediately. At any time after a declaration of acceleration with respect to debt securities
of any series has been made, but before a judgment or decree based on acceleration has been obtained, the holders of a majority
in aggregate principal amount of outstanding debt securities of that series may rescind and annul the acceleration, provided that,
among other things, all events of default with respect to that series, other than payment defaults caused by such acceleration,
have been cured or waived as provided in the Indenture. If an event of default described under the fifth bullet above occurs and
is continuing, then the principal amount of the debt securities issued under the Indenture at the time outstanding shall automatically
and without any declaration or any other action on the part of the Trustee or any holder, become due and payable immediately.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Modification and Waiver
</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We and
the Trustee may make modifications and amendments of the Indenture with the consent of the holders of not less than a majority
in aggregate principal amount of the outstanding debt securities of each series affected by the modification or amendment. However,
no modification or amendment may, without the consent of the holder of each affected outstanding debt security:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">extend
                                         the stated maturity date of the principal of, or any installment of interest on, any
                                         debt security;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">reduce
                                         the principal amount of, or any premium or rate of interest on, any debt security;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">reduce
                                         the amount of principal of an original issue discount security payable upon acceleration
                                         of its maturity or its amount provable in bankruptcy;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">adversely
                                         affect the right of repayment at the option of any holder;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">change
                                         the place of payment of, currency of payment of principal of, or any premium or interest
                                         on, any debt security or impair the right to institute suit for the enforcement of any
                                         payment on or after the maturity of any debt security;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">reduce
                                         the percentage in principal amount of outstanding debt securities of any series, the
                                         consent of whose holders is required for modification or amendment of the Indenture or
                                         for waiver of compliance with certain provisions of the Indenture or for waiver of certain
                                         defaults;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">modify
                                         any of the provisions of the Indenture relating to modification or amendment of the Indenture
                                         or waiver of certain provisions of the Indenture, except to increase the required percentage
                                         of holders of a series of debt securities; or</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">modify,
                                         without the written consent of the Trustee the rights, duties or immunities of the Trustee.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The holders
of a majority in aggregate principal amount of the outstanding debt securities of each series may, on behalf of all holders of
debt securities of that series, waive, insofar as that series is concerned, compliance by us with certain restrictive provisions
of the Indenture. The holders of a majority in aggregate principal amount of the outstanding debt securities of each series may,
on behalf of all holders of debt securities of that series, waive any past default under the Indenture with respect to debt securities
of that series, except a default in the payment of principal, premium, if any, or interest, or a default in respect of a provision
which under the Indenture cannot be modified or amended without the consent of the holder of each affected outstanding debt security
of that series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We and
the Trustee may make modification and amendment of the Indenture without the consent of any holder for any of the following purposes:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">to
                                         establish the form or terms of debt securities of any series and any related coupons;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">to
                                         add covenants or events of default, in each case for the benefit of the holders of all
                                         or any series of debt securities or to surrender any of our rights or powers under the
                                         Indenture;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">to
                                         add to the conditions, limitations and restrictions on the authorized amount, terms or
                                         purposes of issue, authentication and delivery of debt securities;</FONT></TD></TR></TABLE>

<!-- Field: Page; Sequence: 16; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">to
                                         change or eliminate any of the provisions of the Indenture; provided that any such change
                                         or elimination becomes effective when there is no outstanding debt security of any series
                                         that is entitled to the benefit of such provision;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">to
                                         evidence the succession of another corporation to us and the assumption by the successor
                                         corporation of our covenants under the Indenture and the debt securities;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">to
                                         provide for the acceptance of appointment by a successor trustee;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">to
                                         secure the debt securities or to release any collateral or lien securing debt securities
                                         of any series;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">to
                                         add any guarantors or co-obligors with respect to any series of debt securities, or to
                                         release guarantors from their guarantees;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">to
                                         cure any ambiguity, defect or inconsistency in the Indenture or in any supplemental indenture
                                         or to conform the terms of the indenture or any supplemental indenture that are applicable
                                         to any series of debt securities to the description thereof that appears in the prospectus
                                         supplement or other offering document applicable to such series of debt securities;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">to
                                         supplement any of the provisions of the Indenture as may be necessary to permit or facilitate
                                         the defeasance and discharge of any series of debt securities, if the action does not
                                         adversely affect the interests of holders of debt securities of that series or any related
                                         series in any material respect; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">to
                                         amend or supplement any provision contained in the Indenture or in any supplemental indenture,
                                         if the amendment or supplement does not materially adversely affect the interests of
                                         the holders of any debt securities then outstanding.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Consolidation, Merger and
Sale of Assets </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We may
consolidate with or merge into, or transfer our assets substantially as an entirety to, any entity organized under the laws of
the United States, any state thereof or the District of Columbia, if we are the continuing corporation or if the successor entity
(if other than us) assumes our obligations on the debt securities and under the Indenture, immediately after giving effect to
the transaction no event of default, and no event which, after notice or lapse of time, would become an event of default, shall
have occurred and be continuing, and certain other conditions are met.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Discharge and Defeasance</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We may
discharge certain obligations to holders with respect to any series of debt securities that have not already been delivered to
the Trustee for cancellation and that either have become due and payable or will 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) by irrevocably
depositing with the Trustee or paying agent, in trust, funds sufficient to pay the entire indebtedness on those debt securities
in respect of principal, premium, if any, and interest to the date of that deposit (if those securities have become due and payable
or to the maturity date, as the case may be.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">At our
option, we may be discharged, subject to certain terms and conditions, from any and all obligations in respect of the debt securities
of any series (except for certain obligations to register the transfer and exchange of debt securities, replace, stolen, lost
or mutilated debt securities and coupons, maintain paying agencies and hold moneys for payment in trust) or need not comply with
certain restrictive covenants of the indenture if:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">we
                                         have deposited with the Trustee, in trust, money, and in the case of debt securities
                                         and coupons denominated in U.S. dollars, U.S. government obligations or, in the case
                                         of debt securities and coupons denominated in a foreign currency, foreign currency government
                                         securities, which through the payment of interest and principal in respect thereof in
                                         accordance with their terms will provide money or a combination of money, and either
                                         U.S. government securities or foreign currency government securities, as the case may
                                         be, in an amount sufficient to pay and discharge each installment of principal (including
                                         any mandatory sinking fund payments), premium, if any, and interest on the debt securities
                                         on the date such payments are due in accordance with the debt securities;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">no
                                         event of default or event which with notice or lapse of time would become an event of
                                         default shall have occurred and be continuing on the date of such deposit (other than
                                         an event of default resulting from the borrowing of funds and the grant of any related
                                         liens to be applied to such deposit); and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">we
                                         have delivered to the Trustee an opinion of counsel and officer&rsquo;s certificate (i)
                                         to the effect that the holders of the applicable series of debt securities will not recognize
                                         income, gain or loss for United States federal income tax purposes, and will be subject
                                         to federal income tax on the same amounts, manner and time as would have been the case
                                         if such deposit and discharge had not occurred and (ii) that we have complied with all
                                         conditions precedent set forth in the indenture relating to the satisfaction and discharge
                                         of the indebtedness of the series of debt securities.</FONT></TD></TR></TABLE>



<!-- Field: Page; Sequence: 17; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Conversion or Exchange</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">If any
debt securities being offered are convertible into or exchangeable for our common stock or other securities, the relevant prospectus
supplement will set forth the terms of conversion or exchange. Those terms will include whether conversion or exchange is mandatory,
at the option of the holder or at our option, and the number of shares of common stock or other securities, or the method of determining
the number of shares of common stock or other securities, to be received by the holder upon conversion or exchange. These provisions
may allow or require the number of shares of our common stock or other securities to be received by the holders of such series
of debt securities to be adjusted.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Subordinated Debt</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Subordinated
debt securities will be subordinate and junior in right of payment, to the extent and in the manner set forth in the Indenture,
to all of our &ldquo;senior indebtedness.&rdquo; The Indenture defines &ldquo;senior indebtedness&rdquo; as any indebtedness we
incur, assume or guarantee for money borrowed, other than nonrecourse obligations, indebtedness to any subsidiaries or employees,
tax liabilities, trade payables, indebtedness that is expressly subordinate in right of payment to any other of our indebtedness
and renewals, extensions, modifications and refundings of such indebtedness. If any debt securities being offered will be subordinated
debt securities, the relevant prospectus supplement will set forth the terms of such securities and the approximate amount of
senior indebtedness to which such securities will be subordinated in right of payment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Subject
to limited exceptions, the holders of all senior indebtedness will be entitled upon any distribution of our assets upon any dissolution,
winding up, liquidation or reorganization, whether in bankruptcy, insolvency, reorganization or receivership proceedings, or upon
an assignment for the benefit of creditors to receive before the holders of any subordinated debt securities (i) payment in full
of the principal, premium, if any, and interest on such senior indebtedness and (ii) payment or distribution of our assets of
any kind or character, whether cash, property or securities, subject to certain exceptions set forth in the Indenture. Furthermore,
if we are in default on senior indebtedness that permits the holders of such indebtedness to accelerate its maturity and certain
other conditions are satisfied, we will be restricted from making any payment on account of principal, premium, if any, sinking
funds or interest in respect of such subordinated debt securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Governing Law </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The Indenture
and debt securities will be governed by and construed in accordance with the internal laws of the State of New York.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Concerning the Trustee
</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The Trustee
is The Bank of New York Mellon Trust Company, N.A. We and certain of our subsidiaries maintain banking relationships with the
Trustee in the ordinary course of business.</FONT></P>


<!-- Field: Page; Sequence: 18; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_008"></A>DESCRIPTION
OF WARRANTS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We may
issue warrants to purchase shares of common stock, preferred stock or debt securities. We may issue warrants independently or
together with any offered securities. Each series of warrants will be issued under a separate warrant agreement, the terms of
which will be described in the applicable prospectus supplement. The following summary of the terms of the warrants does not purport
to be complete and is subject to, and is qualified in its entirety by reference to, the terms of the warrants and the warrant
agreement to be described in the applicable prospectus supplement. For more information on how you can obtain copies of the warrant
agreement and related warrant certificate, see &ldquo;Where You Can Find More Information.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>General</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The prospectus
supplement relating to an offering of warrants will describe the specific terms of the warrants, including, to the extent applicable,
the following:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         number of shares of common stock or preferred stock, or the number of debt securities,
                                         that will be purchasable upon the exercise of warrants;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         exercise price of any warrant and, if applicable, any provisions for changes to or adjustments
                                         in the exercise price;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         designation, stated value and terms, including, without limitation, the liquidations,
                                         dividend and voting rights, of the series of preferred stock purchasable upon the exercise
                                         of warrants to purchase preferred stock;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         terms, including, without limitation, the principal amount, interest rate and conversion
                                         rights, if any, of a series of debt securities that may be purchased upon exercise of
                                         a debt warrant;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         date or dates on which the right to exercise the warrants will commence and the date
                                         or dates on which the right will expire;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         United States federal income tax consequences applicable to the warrants;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         terms of any anti-dilution or other adjustment provisions;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         terms of any mandatory or optional call provisions;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">if
                                         applicable, the date on and after which the warrants and the underlying common stock,
                                         preferred stock or debt securities will be separately transferable;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">information
                                         with respect to book-entry procedures;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         identity of the warrant agent; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">any
                                         additional terms of the warrants, including terms, procedures and limitations relating
                                         to the exchange, exercise and settlement of the warrants.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>No Rights as Stockholder
or Noteholder</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Until
a holder exercise warrants to purchase shares of our common stock, shares of our preferred stock or debt securities, the holder
will not have any rights as a holder of shares of our common stock, shares of our preferred stock or holder of our debt securities,
respectively, by virtue of ownership of warrants. Holders of equity warrants will not have any right to vote, consent, receive
dividends or receive notice as a stockholder with respect to any meeting of stockholders for the election of directors or any
other matter. Holders of debt warrants will not have any right to receive payment of principal or premium, if any, or interest
on the debt securities purchasable upon exercise of the warrants.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Exercise of Warrants</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Each holder
of a warrant will be entitled to purchase, at the exercise price set forth in the applicable prospectus supplement (subject to
adjustment as set forth in the applicable prospectus supplement), the number of shares of common stock, shares of preferred stock
or principal amount of debt securities being offered. Holders may exercise warrants at any time up to the date and time date set
forth in the applicable prospectus supplement. After such date and time, unexercised warrants will be void. Holders may exercise
warrants as set forth in the prospectus supplement relating to the warrants being offered.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 19; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_009"></A>DESCRIPTION
OF DEPOSITARY SHARES</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We may
elect to offer fractional interests in shares of our preferred stock, in which case we will issue receipts for depositary shares
and each depositary share will represent a fraction of a share of the applicable series of our preferred stock, as set forth in
the applicable prospectus supplement. The following summary of the terms of the depositary shares does not purport to be complete
and is subject to, and is qualified in its entirety by reference to, the terms of the depositary shares and our preferred stock,
as well as the terms of the deposit agreement, depositary receipt, our Certificate of Incorporation and Bylaws relating to the
applicable series of our preferred stock to be described in the applicable prospectus supplement. For more information on how
you can obtain copies of the deposit agreement and related depositary receipt, see &ldquo;Where You Can Find More Information.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>General</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Each owner
of a depositary share will be entitled, in proportion to the applicable fractional interest in shares of our preferred stock underlying
that depositary share, to all rights and preferences of our preferred stock underlying that depositary share. These rights may
include dividend, voting, redemption and liquidation rights.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The shares
of our preferred stock underlying the depositary shares will be deposited with a bank or trust company selected by us to act as
depositary, under a deposit agreement between us, the depositary and the holders of the depositary receipts. The depositary will
be the transfer agent, registrar and dividend disbursing agent for the depositary shares. The name and address of the principal
executive office of the depositary will be included in the prospectus supplement relating to the issue.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The depositary
shares will be evidenced by depositary receipts issued pursuant to the deposit agreement. Holders of depositary receipts agree
to be bound by the deposit agreement, which will require holders to take certain actions, such as filing proof of residence and
paying certain charges.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Dividends and Other Distributions</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The depositary
will distribute cash dividends or other cash distributions, if any, received in respect of the series of our preferred stock underlying
the depositary shares to the record holders of depositary receipts in proportion to the number of depositary shares owned by those
holders on the relevant record date. The relevant record date for depositary shares will be the same date as the record date for
our preferred stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">In the
event of a distribution other than in cash, the depositary will distribute property received by it to the record holders of depositary
receipts that are entitled to receive the distribution, unless the depositary determines that it is not feasible to make the distribution.
If this occurs, the depositary, with our approval, may adopt another method for the distribution, including selling the property
and distributing the net cash proceeds to the holders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Liquidation Preference</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">If a series
of our preferred stock underlying the depositary shares has a liquidation preference, in the event of our voluntary or involuntary
liquidation, dissolution or winding-up, holders of depositary shares will be entitled to receive the fraction of the liquidation
preference accorded each share of the applicable series of our preferred stock, as set forth in the applicable prospectus supplement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Redemption</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">If a series
of our preferred stock underlying the depositary shares is subject to redemption, the depositary shares will be redeemed from
the proceeds received by the depositary resulting from the redemption, in whole or in part, of our preferred stock held by the
depositary. Whenever we redeem any of our preferred stock held by the depositary, the depositary will redeem, as of the same redemption
date, the number of depositary shares representing our preferred stock so redeemed. The depositary will mail the notice of redemption
to the record holders of the depositary receipts promptly upon receiving the notice from us, unless otherwise provided in the
applicable prospectus supplement, prior to the date fixed for redemption of our preferred stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">After
the date fixed for redemption, the depositary shares called for redemption will no longer be outstanding. When the depositary
shares are no longer outstanding, all rights of the holders will terminate, except the right to receive money, securities or other
property payable upon redemption.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt"><B></B></FONT></P>

<!-- Field: Page; Sequence: 20; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Voting</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Upon receipt
of notice of any meeting at which the holders of our preferred stock are entitled to vote, the depositary will mail the information
contained in the notice of meeting to the record holders of the depositary receipts underlying our preferred stock. Each record
holder of those depositary receipts on the record date will be entitled to instruct the depositary as to the exercise of the voting
rights pertaining to the amount of our preferred stock underlying that holder&rsquo;s depositary shares. The record date for the
depositary will be the same date as the record date for our preferred stock. The depositary will try, as far as practicable, to
vote the shares of our preferred stock underlying the depositary shares in accordance with these instructions. We will agree to
take all action that may be deemed necessary by the depositary in order to enable the depositary to vote our preferred stock in
accordance with these instructions. The depositary will not vote our preferred stock to the extent that it does not receive specific
instructions from the holders of depositary receipts.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Withdrawal of Preferred
Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Owners
of depositary shares will be entitled to receive, upon surrender of depositary receipts at the principal office of the depositary
and payment of any unpaid amount due to the depositary, the number of whole shares of our preferred stock underlying their depositary
shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Partial
shares of our preferred stock will not be issued. Holders of our preferred stock will not be entitled to deposit the shares under
the deposit agreement or to receive depositary receipts evidencing depositary shares for our preferred stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Amendment and Termination
of the Deposit Agreement</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The form
of depositary receipt evidencing the depositary shares and any provision of the deposit agreement may be amended by agreement
between the depositary and us. However, any amendment that materially and adversely alters the rights of the holders of depositary
shares, other than fee changes, will not be effective unless the amendment has been approved by the holders of at least a majority
of the outstanding depositary shares. The deposit agreement may be terminated by the depositary or us only if:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">all
                                         outstanding depositary shares have been redeemed; or</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">there
                                         has been a final distribution of our preferred stock in connection with our dissolution
                                         and such distribution has been made to all holders of depositary shares.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Charges of Depositary</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We will
pay all United States transfer and other taxes and governmental charges arising solely from the existence of the depositary arrangement.
We will also pay charges of the depositary in connection with:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         initial deposit of our preferred stock;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         initial issuance of the depositary shares;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">any
                                         redemption of our preferred stock; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">all
                                         withdrawals of our preferred stock by owners of depositary shares.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Holders
of depositary receipts will pay transfer, income and other taxes and governmental charges and other specified charges as provided
in the deposit agreement for their accounts. If these charges have not been paid, the depositary may:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">refuse
                                         to transfer depositary shares;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">withhold
                                         dividends and distributions; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">sell
                                         the depositary shares evidenced by the depositary receipt.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt"><B></B></FONT></P>

<!-- Field: Page; Sequence: 21; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Miscellaneous</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The depositary
will forward to the holders of depositary receipts all reports and communications we deliver to the depositary that we are required
to furnish to the holders of our preferred stock. In addition, the depositary will make available for inspection by holders of
depositary receipts at the principal office of the depositary, and at such other places as it may from time to time deem advisable,
any reports and communications we deliver to the depositary as the holder of our preferred stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Neither
we nor the depositary will be liable if either we or the depositary are prevented or delayed by law or any circumstance beyond
the control of either the depositary or us in performing our respective obligations under the deposit agreement. Our obligations
and the depositary&rsquo;s obligations will be limited to the performance in good faith of our or the depositary&rsquo;s respective
duties under the deposit agreement. Neither we nor the depositary will be obligated to prosecute or defend any legal proceeding
in respect of any depositary shares or our preferred stock unless satisfactory indemnity is furnished. The depositary and we may
rely on:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">written
                                         advice of counsel or accountants;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">information
                                         provided by holders of depositary receipts or other persons believed in good faith to
                                         be competent to give such information; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">documents
                                         believed to be genuine and to have been signed or presented by the proper party or party
                                         or parties.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Resignation and Removal
of Depositary</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The depositary
may resign at any time by delivering a notice to us. We may remove the depositary at any time. Any such resignation or removal
will take effect upon the appointment of a successor depositary and its acceptance of such appointment. The successor depositary
must be appointed within 60 days after delivery of the notice for resignation or removal. The successor depositary must be a bank
and trust company having its principal office in the United States of America and having a combined capital and surplus of at
least $50,000,000.</FONT></P>


<!-- Field: Page; Sequence: 22; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_010"></A>DESCRIPTION
OF UNITS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We may
issue units comprised of one or more of the securities described in this prospectus or any prospectus supplement in any combination.
Each unit will be issued so that the holder of the unit is also the holder, with the rights and obligations of a holder, of each
security included in the unit. The units may be issued under unit agreements to be entered into between us and a unit agent, which
may provide that the securities included in the unit may not be held or transferred separately, at any time or times before a
specified date or upon the occurrence of a specified event or occurrence. For more information on how you can obtain copies of
the unit agreement and related unit certificate, see &ldquo;Where You Can Find More Information.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The prospectus
supplement relating to an offering of units will describe the specific terms of the units, including, to the extent applicable,
the following:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">the
                                         designation and terms of the units and of the securities comprising the units, including
                                         whether and under what circumstances the securities comprising the units may be held
                                         or transferred separately;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">a
                                         description of the terms of any unit agreement governing the units;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">a
                                         description of the provisions for the payment, settlement, transfer or exchange of the
                                         units;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">a
                                         discussion of material federal income tax considerations, if applicable; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">whether
                                         the units, if issued as a separate security, will be issued in fully registered or global
                                         form.</FONT></TD></TR></TABLE>



<!-- Field: Page; Sequence: 23; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_011"></A>DESCRIPTION
OF STOCK PURCHASE CONTRACTS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">This section
describes the general terms that apply to any purchase contracts we may offer in the future, to which a future prospectus supplement
may relate. The following description and any description of purchase contracts in the applicable prospectus supplement do not
purport to be complete and are subject to and are qualified in their entirety by reference to the purchase contract agreement
that we will enter into at the time of issue and, if applicable, collateral arrangements and depositary arrangements relating
to such purchase contracts.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We may
issue purchase contracts, including contracts obligating holders to purchase from or sell to us, and obligating us to sell to
or purchase from the holders, a specified number of shares of common stock or other securities at a future date or dates, which
we refer to in this prospectus as purchase contracts. The price per share of the securities and the number or amount of the securities
may be fixed at the time the purchase contracts are issued or may be determined by reference to a specific formula set forth in
the purchase contracts, and may be subject to adjustment under anti-dilution formulas. The purchase contracts may require holders
to secure their obligations under the purchase contracts in a specified manner. The purchase contracts also may require us to
make periodic payments to the holders of the purchase contracts, or vice versa, and those payments may be unsecured or pre-funded
on some basis.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The prospectus
supplement relating to any purchase contracts we may offer will describe the specific terms of the purchase contracts it covers,
including, if applicable, collateral or depositary arrangements. In addition to describing the specific terms of the purchase
contracts, the applicable prospectus supplement will contain a summary of certain United States federal income tax consequences
applicable to the stock purchase contracts or stock purchase units, as applicable.<BR CLEAR="ALL"></FONT></P>



<!-- Field: Page; Sequence: 24; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_012"></A>PLAN
OF DISTRIBUTION</FONT></P>

<P STYLE="text-indent: 0.5in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 12pt"><FONT STYLE="font-size: 10pt">We may sell the securities
covered by this prospectus from time to time in one or more of the following ways from time to time:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">to
                                         or through underwriters, dealers or agents;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">directly
                                         to agents or other purchasers;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">in
                                         &ldquo;at the market offerings,&rdquo; within the meaning of Rule 415(a)(4) under the
                                         Securities Act of 1933, to or through a market maker or into an existing trading market,
                                         on an exchange or otherwise;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">in
                                         forward contracts or similar arrangements;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">through
                                         a combination of any of the foregoing methods; or</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">through
                                         any other method described in the applicable prospectus supplement.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We, directly
or through underwriters, dealers or agents, may offer and sell the securities covered by this prospectus in one or more transactions:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">at
                                         a fixed price or prices, which may be changed;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">at
                                         market prices prevailing at the time of sale, including through transactions on the New
                                         York Stock Exchange or any other organized market where our securities may be sold;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">at
                                         prices related to the prevailing market price; or</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">at
                                         negotiated prices.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Each time
that we sell securities pursuant to this prospectus, we will provide a prospectus supplement or supplements that will describe
the method of distribution and set forth the terms of the offering of such securities, including the terms of the offering, the
consideration that we will receive, the offering participants and the compensation that may be paid to underwriters, dealers or
agents assisting us in the offering. That compensation may be in the form of discounts, concessions or commissions to be received
from us or from the purchasers of the securities. Dealers and agents participating in the distribution of the securities may be
deemed to be underwriters, and compensation received by them on resale of the securities may be deemed to be underwriting discounts.
If such dealers or agents were deemed to be underwriters, they may be subject to statutory liabilities under the Securities Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Sales Through Underwriters
or Dealers</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">If underwriters
are used in a sale, securities will be acquired by the underwriters for their own account and may be resold from time to time
in one or more transactions, including negotiated transactions, at a fixed public offering price or at varying prices determined
at the time of sale, or under delayed delivery contracts or other contractual commitments. Securities may be offered to the public
either through underwriting syndicates represented by one or more managing underwriters or directly by one or more firms acting
as underwriters. If an underwriter or underwriters are used in the sale of securities, an underwriting agreement will be executed
with the underwriter or underwriters at the time an agreement for the sale is reached.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">If a dealer
is used in the sale of the securities, we or an underwriter will sell the securities to the dealer, as principal. The dealer may
then resell the securities to the public at varying prices to be determined by the dealer at the time of resale. To the extent
required, we will set forth in the prospectus supplement the name of the dealer and the terms of the transactions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"></P>

<!-- Field: Page; Sequence: 25; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Sales Through Agents and
Direct Sales</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Agents
may from time to time solicit offers to purchase the securities. If required, we will name in the applicable prospectus supplement
any agent involved in the offer or sale of the securities. Unless otherwise indicated in the prospectus supplement, any agent
will be acting on a best efforts basis for the period of its appointment. Any agent selling the securities covered by this prospectus
may be deemed to be an underwriter, as that term is defined in the Securities Act, of the securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We may
directly solicit offers to purchase the securities and we may make sales of securities directly to institutional investors or
others. These persons may be deemed to be underwriters within the meaning of the Securities Act with respect to any resale of
the securities. To the extent required, the prospectus supplement will describe the terms of any such sales, including the terms
of any bidding or auction process, if used.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Delayed Delivery Contracts</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">If the
prospectus supplement indicates, we may authorize underwriters, dealers or agents to solicit offers from certain institutions
to purchase securities at the public offering price under delayed delivery contracts. These contracts would provide for payment
and delivery of securities on a specified date in the future. The contracts would be subject only to those conditions described
in the prospectus supplement. The applicable prospectus supplement will describe the commission payable for solicitation of those
contracts.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Market Making, Stabilization
and Other Transactions</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Certain
persons participating in an offering may engage in option transactions, stabilizing transactions, short-covering transactions
and penalty bids in accordance with Regulation M under the Exchange Act that stabilize, maintain or otherwise affect the price
of the offered securities. These transactions may have the effect of raising or maintaining the market price of our securities
or preventing or retarding a decline in the market price of our securities. As a result, the price of the securities in the open
market may be higher than it would otherwise be in the absence of these transactions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Derivative Transactions
and Hedging</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We and
the underwriters, dealers or agents may engage in derivative transactions involving the securities. These derivatives may consist
of short sale transactions and other hedging activities. The underwriters, dealers or agents may acquire a long or short position
in the securities, hold or resell securities acquired and purchase options or futures on the securities and other derivative instruments
with returns linked to or related to changes in the price of the securities. In order to facilitate these derivative transactions,
we may enter into security lending or repurchase agreements with the underwriters, dealers or agents, and they may effect the
derivative transactions through sales of the securities to the public, including short sales, or by lending the securities in
order to facilitate short sale transactions by others. The underwriters or agents may also use the securities purchased or borrowed
from us or others (or, in the case of derivatives, securities received from us in settlement of those derivatives) to directly
or indirectly settle sales of the securities or close out any related open borrowings of the securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>General Information</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Underwriters,
dealers and agents may be entitled under agreements which may be entered into with us to indemnification by us against specified
liabilities, including liabilities incurred under the Securities Act, or to contribution by us to payments they may be required
to make in respect of such liabilities. If required, the prospectus supplement will describe the terms and conditions of such
indemnification or contribution.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Under
the securities laws of some states, the securities offered by this prospectus may be sold in those states only through registered
or licensed brokers or dealers.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Underwriters,
dealers and agents and their affiliates may engage in transactions with us, or perform services for us, in the ordinary course
of business for which they receive customary compensation.</FONT></P>



<!-- Field: Page; Sequence: 26; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_013"></A>LEGAL
MATTERS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Unless
otherwise specified in the applicable prospectus supplement, the validity of the securities covered by this prospectus will be
passed upon for us by Covington &amp; Burling LLP, New York, NY. If legal matters in connection with offerings made by this prospectus
are passed on by counsel for the underwriters, dealers or agents, if any, that counsel will be named in the applicable prospectus
supplement.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_014"></A>EXPERTS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The financial
statements and management&rsquo;s assessment of the effectiveness of internal control over financial reporting (which is included
in Management&rsquo;s Report on Internal Control over Financial Reporting) incorporated in this prospectus by reference to the
Annual Report on Form 10-K of Franklin Resources, Inc. for the year ended September 30, 2024 have been so incorporated in reliance
on the reports of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said
firm as experts in auditing and accounting.</FONT></P>


<!-- Field: Page; Sequence: 27; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>PART II</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>INFORMATION
NOT REQUIRED IN PROSPECTUS </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-top-width: 0in; border-top-color: Black"><FONT STYLE="font-size: 10pt"><B>Item
14. Other Expenses of Issuance and Distribution.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-top-width: 0in; border-top-color: Black"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-top-width: 0in; border-top-color: Black"><FONT STYLE="font-size: 10pt"><B></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; border-top-width: 0in; border-top-color: Black; border-bottom-width: 0in; border-bottom-color: Black"><FONT STYLE="font-size: 10pt">The
table below itemizes the expenses payable by us in connection with the registration and issuance of the securities being registered
hereunder. We will bear all expenses of this offering. All amounts shown are estimates.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; border-top-width: 0in; border-top-color: Black; border-bottom-width: 0in; border-bottom-color: Black">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; border-top-width: 0in; border-top-color: Black; border-bottom-width: 0in; border-bottom-color: Black"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="width: 89%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">SEC registration fee</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 8%; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Rating agency fees</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">**</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Trustee and depositary fees and expenses</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">**</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Printing and distributing</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"></FONT>**</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Legal fees and expenses</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"></FONT>**</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Accounting fees and expenses</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"></FONT>**</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Miscellaneous</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt"></FONT>**</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Total</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">**</TD></TR>
</TABLE>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">* </FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;Deferred in accordance with Rules
    456(b) and 457(r).</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">** </FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;These fees and expenses are calculated
    based on the number of issuances and amount of securities offered and accordingly cannot be estimated at this time.</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0"><FONT STYLE="font-size: 10pt"><B>Item 15. Indemnification
of Directors and Officers.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section
145 of the Delaware General Corporation Law provides that a corporation may indemnify a director, officer, employee or agent made
a party to an action by reason of the fact that the person is or was a director, officer, employee or agent of the corporation,
or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership,
joint venture, trust or other enterprise, against expenses (including attorneys&rsquo; fees), judgments, fines and amounts paid
in settlement against liabilities, costs and expenses actually and reasonably incurred by the person in such person&rsquo;s capacity
as a director or officer or arising out of such action, if the person acted in good faith and in a manner the person reasonably
believed to be in the best interests of the corporation and, with respect to any criminal action, had no reasonable cause to believe
the person&rsquo;s conduct was unlawful. No indemnification may be provided where the director, officer, employee or agent has
been adjudged by a court to be liable to the corporation, unless a court determines that the person is entitled to such indemnity.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section
102(b)(7) of the Delaware General Corporation Law also permits a corporation to relieve its directors from personal liability
for monetary damages to the corporation or its stockholders for breaches of their fiduciary duty as directors except for (i) a
breach of the duty of loyalty, (ii) failure to act in good faith, (iii) intentional misconduct or knowing violation of law, (iv)
willful or negligent violations of certain provisions of the Delaware General Corporation Law imposing certain requirements with
respect to stock purchases, redemptions and dividends or (v) any transaction from which the director derived an improper personal
benefit.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">In addition
to the above described provisions, our certificate of incorporation, as amended, provides for indemnification of our directors
and officers to the fullest extent permitted by Section 145 of the Delaware General Corporation Law and relieves our directors
from personal liability for a breach of fiduciary duty as a director as set forth in Section 102(b)(7) of the Delaware General
Corporation Law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Our amended
and restated bylaws provide that directors or officers who have been successful on the merits or otherwise in a civil, criminal,
administrative, or investigative action, suit or proceeding referred to in Section 145(a) or 145(b) of the Delaware General Corporation
Law, or in defense of any claim, issue or matter therein, shall be indemnified against expenses, including attorneys&rsquo; fees
and disbursements, and costs actually and reasonably incurred in connection therewith.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Moreover,
our amended and restated bylaws provide that if a director, officer or employee of the corporation serves or prepares to serve
as a witness in any action, suit or proceeding or in any investigation by us or by any securities exchange, we shall indemnify
such person against expenses, including attorneys&rsquo; fees and disbursements, and costs actually and reasonably incurred in
connection therewith.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 28; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">It is
our policy to enter into indemnification agreements with directors, some of whom are also executive officers, each of whom we
refer to as &ldquo;indemnified person.&rdquo; The indemnification agreements generally provide for (i) if requested by the indemnified
person, the advancing of attorneys&rsquo; fees and all other costs, expenses and obligations paid or incurred by the indemnified
person in connection with investigating, defending, being a witness in or participating in, or preparing to defend, be a witness
in or participate in, any Claim (as defined below) and (ii) indemnification of an Indemnified Person to the fullest extent permitted
by law against any and all costs, expenses and obligations, judgments, fines, penalties and amounts paid in settlement of such
Claim.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">A &ldquo;Claim&rdquo;
consists of participation in any threatened, pending or completed action, suit or proceeding, or any inquiry or investigation
that the indemnified person in good faith believes might lead to the institution of any such action, suit or proceeding. However,
the term &ldquo;Claim&rdquo; does not include any action, suit or proceeding brought by an indemnified person for expenses (including
attorneys&rsquo; fees) and advance to these expenses incurred by the indemnified person in connection with any claim or action
brought by the indemnified person for (i) indemnification or advance of expenses under the agreement or under our certificate
of incorporation or bylaws, or (ii) recovery under directors&rsquo; and officers&rsquo; liability insurance policies, regardless
of whether the indemnified person is ultimately determined to be entitled to such indemnification, expense payment or insurance
recovery. Additionally, the indemnification agreements provide that if we pay an indemnified person pursuant to the indemnification
agreements, we will be subrogated to the indemnified person&rsquo;s rights to recover from third parties.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">However,
the indemnification agreements prohibit such indemnification (i) in connection with any Claim initiated by the indemnified person
against us or any director or officer of ours unless we have joined in or consented to the Claim or (ii) if selected members of
the board of directors or other person or body appointed by the board of directors determines that such indemnification is not
permitted under applicable law. In the event of such determination, the indemnified person agrees to reimburse us for all amounts
that we have advanced to the indemnified person in respect of such indemnification.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The indemnification
agreements also provide that if we undergo a change in control, we will seek legal advice from special, independent counsel selected
by the indemnified person and approved by us with respect to matters thereafter arising concerning rights of the indemnified person
under the indemnification agreements. Additionally, the indemnification agreements provide that if there is a potential change
in control, we will, upon written request of the indemnified person, fund a trust to satisfy expenses reasonably anticipated to
be incurred in connection with a Claim relating to an indemnifiable event.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We have
purchased an insurance policy indemnifying our officers and directors and the officers and directors of our subsidiaries against
claims and liabilities (with stated exceptions) to which they may become subject by reason of their positions with us as directors
and officers.</FONT></P>


<!-- Field: Page; Sequence: 29; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Item 16. Exhibits. </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">The following exhibits are
being furnished herewith or incorporated by reference herein:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1.75pt 1.75pt 1.9pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-top-width: 0in; border-top-color: Black; border-bottom-width: 0in; border-bottom-color: Black"><FONT STYLE="font-size: 10pt"><B>Exhibit
        Number</B></FONT></P></td>
    <TD STYLE="padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1.75pt 1.75pt 1.9pt"><FONT STYLE="font-size: 10pt; color: Black"><B>Description</B></FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">1.1</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black">Underwriting
    Agreement.*</FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">3.1</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black"><A HREF="https://www.sec.gov/Archives/edgar/data/38777/0000038777-94-000129.txt">Certificate of Incorporation of Franklin Resources, Inc., as filed November 28, 1969, incorporated by reference to Exhibit (3)(i) to our Annual Report on Form 10-K for the fiscal year ended September 30, 1994 (File No. 001-09318) (the &ldquo;1994 Annual Report&rdquo;).</A></FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">3.2</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black"><A HREF="http://www.sec.gov/Archives/edgar/data/38777/0000038777-94-000129.txt">Certificate of Amendment of Certificate of Incorporation of Franklin Resources, Inc., as filed March 1, 1985, incorporated by reference to Exhibit 3(ii) to the 1994 Annual Report.</A></FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">3.3</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black"><A HREF="https://www.sec.gov/Archives/edgar/data/38777/0000038777-94-000129.txt">Certificate of Amendment of Certificate of Incorporation of Franklin Resources, Inc., as filed April 1, 1987, incorporated by reference to Exhibit 3(iii) to the 1994 Annual Report.</A></FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">3.4</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black"><A HREF="https://www.sec.gov/Archives/edgar/data/38777/0000038777-94-000129.txt">Certificate of Amendment of Certificate of Incorporation of Franklin Resources, Inc., as filed February 2, 1994, incorporated by reference to Exhibit 3(iv) to the 1994 Annual Report.</A></FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">3.5</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black"><A HREF="https://www.sec.gov/Archives/edgar/data/38777/000003877705000060/exhibit3ie.txt">Certificate of Amendment of Certificate of Incorporation of Franklin Resources, Inc., as filed on February 4, 2005, incorporated by reference to Exhibit (3)(i)(e) to our Quarterly Report on Form 10-Q for the period ended December 31, 2004 (File No. 001-09318).</A></FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">3.6</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black"><A HREF="https://www.sec.gov/Archives/edgar/data/38777/000003877721000127/exhibit317121.htm">Amended and Restated Bylaws (as adopted and effective June 29, 2021), incorporated by reference to Exhibit 3.1 to our Current Report on Form 8-K filed on July 1, 2021 (File No. 001-09318).</A></FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">4.1</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black">Specimen
    of Common Stock Certificate.*</FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">4.2</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black">Form
    of Certificate of Designations of Preferred Stock and Preferred Stock Certificate.*</FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">4.3</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black"><A HREF="e25030_ex4-3.htm">Indenture, dated as of October 6, 2020, between Franklin Resources, Inc. and The Bank of New York Mellon Trust Company, N.A., as trustee.</A></FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">4.4</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black">Form
    of Debt Security.*</FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">4.5</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black">Form
    of Warrant Agreement and Warrant Certificate.*</FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">4.6</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black">Form
    of Deposit Agreement and Depositary Receipt.*</FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">4.7</FONT></P></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt; color: Black">Form
of Unit Agreement and Unit Certificate.*</FONT></P></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">4.8</FONT></P></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt; color: Black">Form
of Stock Purchase Contract.*</FONT></P></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">5.1</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black"><A HREF="e25030_ex5-1.htm">Opinion of Covington &amp; Burling LLP.</A></FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">23.1</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black"><A HREF="e25030_ex23-1.htm">Consent of PricewaterhouseCoopers LLP relating to the financial statements and the effectiveness of internal control over financial reporting of Franklin Resources, Inc.</A></FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">23.2</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black">Consent
    of Covington &amp; Burling LLP (included in <A HREF="e25030_ex5-1.htm">Exhibit 5.1</A>).</FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">24.1</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black"><A HREF="#POA">Power of Attorney (contained on signature page).</A></FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">25.1</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black"><A HREF="e25030_ex25-1.htm">Statement of eligibility of The Bank of New York Mellon Trust Company, N.A., as Trustee under the Indenture dated as of October 6, 2020.</A></FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">107</FONT></td>
    <TD STYLE="vertical-align: bottom; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: top; padding: 1.75pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black"><A HREF="e25030_ex107.htm">Filing Fee Table.</A></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">* </FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">To be filed by a post-effective
        amendment to this registration statement or as an exhibit to a document incorporated by reference herein.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P></td></tr>
</table>


<!-- Field: Page; Sequence: 30; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Item 17. Undertakings. </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">The undersigned registrant
hereby undertakes:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.3pt; text-align: left"><FONT STYLE="font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">To file, during any period
in which offers or sales are being made, a post-effective amendment to this registration statement:</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">To include any prospectus
required by Section 10(a)(3) of the Securities Act of 1933;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">To reflect in the prospectus
any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value
of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated
maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the
aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price
set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective registration statement; and</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">To include any material information
with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such
information in the registration statement;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; border-top-width: 0in; border-top-color: Black; border-bottom-width: 0in; border-bottom-color: Black; border-left-width: 0in; border-left-color: Black"><FONT STYLE="font-size: 10pt"><I>provided,
however</I>, that paragraphs (a)(1)(i), (a)(1)(ii) and (a)(1)(iii) of this section do not apply if the information required to
be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission
by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference
in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) under the Securities Act
of 1933 that is part of the registration statement;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-top-width: 0in; border-top-color: Black; border-bottom-width: 0in; border-bottom-color: Black; border-left-width: 0in; border-left-color: Black">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.3pt; text-align: left"><FONT STYLE="font-size: 10pt">(2)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">That, for the purpose of
determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.3pt; text-align: left"><FONT STYLE="font-size: 10pt">(3)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">To remove from registration
by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.3pt; text-align: left"><FONT STYLE="font-size: 10pt">(4)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">That, for the purpose of
determining liability under the Securities Act of 1933 to any purchaser:</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">each prospectus filed by
the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus
was deemed part of and included in the registration statement; and</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">each prospectus required
to be filed pursuant to Rule 424(b)(2), (b)(5) or (b)(7) as part of a registration statement in reliance on Rule 430B relating
to an offering made pursuant to Rule 415(a)(1)(i), (vii) or (x) for the purpose of providing the information required by section
10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the registration statement as of the earlier
of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities
in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that
is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to
the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement
or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference
into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of
contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or
prospectus that was part of the registration statement or made in any such document immediately prior to such effective date.</FONT></TD>
</TR></TABLE>

<!-- Field: Page; Sequence: 31; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.3pt; text-align: left"><FONT STYLE="font-size: 10pt">(5)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">That, for the purpose of
determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities,
the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this
registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities
are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller
to the purchaser and will be considered to offer or sell such securities to such purchaser:</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Any preliminary prospectus
or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Any free writing prospectus
relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">The portion of any other
free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities
provided by or on behalf of the undersigned registrant; and</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(iv)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Any other communication that
is an offer in the offering made by the undersigned registrant to the purchaser.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.3pt; text-align: left"><FONT STYLE="font-size: 10pt">(6)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">That, for purposes of determining
any liability under the Securities Act of 1933, each filing of the registrant&rsquo;s annual report pursuant to Section 13(a)
or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan&rsquo;s
annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration
statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering thereof.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.3pt; text-align: left"><FONT STYLE="font-size: 10pt">(7)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Insofar as indemnification
for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that, in the opinion of the Securities
and Exchange Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant
of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered,
the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court
of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities
Act of 1933 and will be governed by the final adjudication of such issue.</FONT></TD>
</TR></TABLE>


<!-- Field: Page; Sequence: 32; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>SIGNATURES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Pursuant to the
requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-3 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of San Mateo, State of California, on February 5, 2025.</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD COLSPAN="2" STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>FRANKLIN
    RESOURCES, INC.</B></FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD COLSPAN="2" STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></td>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0; width: 46%"><FONT STYLE="font-size: 10pt">/s/
    Matthew Nicholls</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name:&nbsp;</FONT></td>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Matthew Nicholls</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top"><FONT STYLE="font-size: 10pt">Title:</FONT></td>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Executive Vice President,
    Chief Financial Officer,<BR>
 and Chief Operating Officer</FONT></td></tr>
</table>

<!-- Field: Page; Sequence: 33; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="POA"></A><FONT STYLE="font-size: 10pt"><B>POWER
OF ATTORNEY </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">KNOW ALL
PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Jennifer M. Johnson, Thomas
C. Merchant and Matthew Nicholls, and each of them individually, his or her true and lawful attorneys-in-fact and agents with
full power of substitution and re-substitution for him or her and in his or her name, place and stead, in any and all capacities,
to sign in any and all capacities and file: (i) any and all exhibits to this Registration Statement and other documents in connection
therewith; (ii) any and all amendments, post-effective amendments and supplements to this Registration Statement or any new registration
statement filed pursuant to Rule 462 of the rules and regulations promulgated under the Securities Act of 1933; and (iii) any
and all applications or other documents pertaining to such registration or the securities covered by such registration, granting
unto such attorney-in-fact and agent, and any substitute or substitutes, full power and authority to do and perform each and every
act and thing requisite, necessary and/or advisable to be done in and about the premises, as fully and to all intents and purposes
as the undersigned might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, and
their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 24%; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>Signature</B></FONT></td>
    <TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="width: 54%; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>Title</B></FONT></td>
    <TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="width: 18%; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>Date</B></FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">/s/
    Jennifer M. Johnson</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">President, Chief Executive
    Officer and Director</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">February 5, 2025</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Jennifer
    M. Johnson</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(Principal Executive Officer)</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">/s/
    Matthew Nicholls</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Executive Vice President,
    Chief Financial Officer, and Chief Operating Officer</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">February 5, 2025</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Matthew
    Nicholls</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(Principal Financial Officer)</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">/s/
    Lindsey H. Oshita</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Chief Accounting Officer</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">February 5, 2025</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Lindsey
    H. Oshita</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(Principal Accounting
    Officer)</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">/s/ Mariann Byerwalter</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Director</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">February 5, 2025</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Mariann
    Byerwalter</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-top: Black 0pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">/s/
    Alexander S. Friedman</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Director</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">February 5, 2025</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Alexander
    S. Friedman</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">/s/
    Gregory E. Johnson</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Director</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">February 5, 2025</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Gregory
    E. Johnson</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">/s/
    Rupert H. Johnson, Jr.</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Director</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">February 5, 2025</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Rupert
    H. Johnson, Jr.</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">/s/
    John Y. Kim</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Director</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">February 5, 2025</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">John
    Y. Kim</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">/s/
    Karen M. King</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Director</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">February 5, 2025</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Karen
    M. King</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">/s/
    Anthony J. Noto</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Director</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">February 5, 2025</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Anthony
    J. Noto</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">/s/
    John W. Thiel</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Director</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">February 5, 2025</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">John
    W. Thiel</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">/s/
    Seth H. Waugh</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Director</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">February 5, 2025</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Seth
    H. Waugh</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">/s/
    Geoffrey Y. Yang</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Director</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">February 5, 2025</FONT></td></tr>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Geoffrey
    Y. Yang</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>










    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></TD></TR></TABLE></DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"></P>





<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.3
<SEQUENCE>2
<FILENAME>e25030_ex4-3.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>Exhibit 4.3</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>FRANKLIN
RESOURCES, INC.</B></FONT></P>



<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 20%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>INDENTURE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Dated
as of</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>October
6, 2020</B></FONT></P>



<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 20%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>DEBT
SECURITIES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>THE
BANK OF NEW YORK MELLON TRUST COMPANY, N.A.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Trustee</B></FONT></P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>CROSS-REFERENCE
SHEET*</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Reconciliation
and tie between Trust Indenture Act and Indenture</B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 55%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>Trust
    Indenture Act Section</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 43%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt"><B>Indenture
    Section</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    310(a)(1), (2) and (5)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">10.04(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    310(a)(3) and (4)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">Not
    applicable</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    310(b)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">10.04(b),
    10.05</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    311(a) and (b)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">10.11</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    312(a)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">9.03</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    312(b) and (c)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">10.10</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    313(a)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">9.01(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    313(b)(1)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">Not
    applicable</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    313(b)(2)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">9.01(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    313(c)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">9.01(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    313(d)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">9.01(b)</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    314(a)(1), (2) and (3)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">9.02</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    314(a)(4)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">6.05</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    314(b)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">Not
    applicable</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    314(c)(1) and (2)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">15.01(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    314(c)(3)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">Not
    applicable</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    314(d)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">Not
    applicable</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    314(e)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">15.01(b)</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    314(f)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">6.05</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    315(a)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">10.01(h)</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    315(b)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">10.03</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    315(c)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">10.02(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    315(d)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">10.02(b),
    10.02(c)</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    315(e)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">7.08</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    316(a)(1)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">7.06</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    316(a)(2)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">Omitted</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    316(b)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">7.07,
    13.02(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    316(c)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">13.02(d)</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    317(a)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">7.03,
    7.04</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    317(b)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">6.03(c)</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&sect;
    318(a)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">15.02</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0"><FONT STYLE="font-size: 10pt">*This cross-reference sheet
shall not, for any purpose, be deemed to be a part of this Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt">Attention should also be directed
to Section 318(c) of the Trust Indenture Act, which provides that the provisions of Sections 310 to and including Section 317
of the Trust Indenture Act are a part of and govern every qualified indenture, whether or not physically contained therein.</FONT></P>


<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->i<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>TABLE
OF CONTENTS*</B></FONT></P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_001"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase">Article I</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> DEFINITIONS</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 16%; padding-left: 25.95pt"><A HREF="#e25030a_002"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 1.01</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 79%"><A HREF="#e25030a_002"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Definitions</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom; width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_003"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase">Article II</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> FORMS OF SECURITIES</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">9</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_004"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 2.01</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_004"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Terms of the Securities</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">9</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_005"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 2.02</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_005"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Trustee&rsquo;s Certificate of Authentication</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">9</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_006"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 2.03</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_006"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Trustee&rsquo;s Certificate of Authentication by an Authenticating Agent</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_007"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase">Article III</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> THE DEBT SECURITIES</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_008"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 3.01</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_008"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amount Unlimited; Issuable in Series</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_009"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 3.02</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_009"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Denominations</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_010"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 3.03</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_010"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Execution, Authentication, Delivery and Dating</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_011"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 3.04</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_011"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Temporary Securities</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_012"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 3.05</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_012"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Registrar</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_013"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 3.06</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_013"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Transfer and Exchange</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">16</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_014"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 3.07</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_014"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Mutilated, Destroyed, Lost and Stolen Securities</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">19</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_015"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 3.08</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_015"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Payment of Interest&#894; Interest Rights Preserved</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">19</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_016"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 3.09</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_016"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Cancellation</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">20</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_017"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 3.10</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_017"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Computation of Interest</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">21</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_018"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 3.11</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_018"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Currency of Payments in Respect of Securities</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">21</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_019"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 3.12</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_019"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Judgments</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">21</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_020"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 3.13</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_020"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">CUSIP Numbers</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">21</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_021"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase">Article IV</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> REDEMPTION OF SECURITIES</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">22</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_022"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 4.01</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_022"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Applicability of Right of Redemption</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">22</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_023"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 4.02</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_023"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Selection of Securities to be Redeemed</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">22</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_024"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 4.03</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_024"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Notice of Redemption</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">22</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_025"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 4.04</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_025"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Deposit of Redemption Price</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">23</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_026"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 4.05</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_026"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Securities Payable on Redemption Date</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">23</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_027"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 4.06</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_027"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Securities Redeemed in Part</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">23</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_028"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase">Article V</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> SINKING FUNDS</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">24</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_029"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 5.01</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_029"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Applicability of Sinking Fund</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">24</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_030"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 5.02</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_030"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Mandatory Sinking Fund Obligation</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">24</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_031"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 5.03</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_031"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Optional Redemption at Sinking Fund Redemption Price</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">24</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_032"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 5.04</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_032"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Application of Sinking Fund Payment</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">25</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_033"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase">Article VI</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> PARTICULAR COVENANTS OF THE COMPANY</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">26</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_034"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 6.01</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_034"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Payments of Securities</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">26</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_035"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 6.02</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_035"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Paying Agent</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">26</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_036"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 6.03</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_036"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">To Hold Payment in Trust</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">26</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_037"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 6.04</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_037"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Merger, Consolidation and Sale of Assets</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">27</FONT></TD></TR>
</TABLE>



<!-- Field: Page; Sequence: 3; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->ii<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt; width: 17%"><A HREF="#e25030a_038"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 6.05</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 78%"><A HREF="#e25030a_038"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Compliance Certificate</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom; width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">28</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_039"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 6.06</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_039"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Conditional Waiver by Holders of Securities</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">28</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_040"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 6.07</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_040"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Statement by Officers as to Default</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">28</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_041"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase">Article VII</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> REMEDIES OF TRUSTEE AND SECURITYHOLDERS</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">29</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_042"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 7.01</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_042"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Events of Default</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">29</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_043"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 7.02</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_043"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Acceleration; Rescission and Annulment</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">30</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_044"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 7.03</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_044"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Other Remedies</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">31</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_045"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 7.04</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_045"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Trustee as Attorney-in-Fact</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">32</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_046"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 7.05</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_046"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Priorities</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">32</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_047"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 7.06</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_047"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Control by Securityholders; Waiver of Past Defaults</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">33</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_048"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 7.07</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_048"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Limitation on Suits</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">33</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_049"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 7.08</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_049"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Undertaking for Costs</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">34</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_050"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 7.09</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_050"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Remedies Cumulative</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">34</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_051"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase">Article VIII</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> CONCERNING THE SECURITYHOLDERS</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">34</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_052"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 8.01</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_052"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Evidence of Action of Securityholders</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">34</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_053"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 8.02</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_053"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Proof of Execution or Holding of Securities</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">35</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_054"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 8.03</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_054"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Persons Deemed Owners</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">35</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_055"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 8.04</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_055"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Effect of Consents</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">35</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_056"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase">Article IX</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> REPORTS BY THE COMPANY AND THE TRUSTEE AND SECURITYHOLDERS&rsquo; LISTS</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">36</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_057"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 9.01</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_057"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Reports by Trustee</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">36</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_058"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 9.02</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_058"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Reports by the Company</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">36</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_059"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 9.03</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_059"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Securityholders&rsquo; Lists</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">36</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_060"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase">Article X</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> CONCERNING THE TRUSTEE</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">37</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_061"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 10.01</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_061"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Rights of Trustees; Compensation and Indemnity</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">37</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_062"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 10.02</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_062"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Duties of Trustee</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">39</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_063"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 10.03</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_063"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Notice of Defaults</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">40</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_064"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 10.04</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_064"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Eligibility; Disqualification</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">40</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_065"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 10.05</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_065"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Resignation and Notice; Removal</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">41</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_066"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 10.06</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_066"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Successor Trustee by Appointment</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">41</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_067"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 10.07</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_067"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Successor Trustee by Merger</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">42</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_068"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 10.08</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_068"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Right to Rely on Officer&rsquo;s Certificate</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">43</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_069"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 10.09</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_069"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Appointment of Authenticating Agent</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">43</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_070"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 10.10</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_070"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Communications by Securityholders with Other Securityholders</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">44</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_071"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 10.11</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_071"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Preferential Collection of Claims Against Company</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">44</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_072"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase">Article XI</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> SATISFACTION AND DISCHARGE&#894; DEFEASANCE</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">44</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_073"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 11.01</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_073"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Satisfaction and Discharge of Indenture</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">44</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_074"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 11.02</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_074"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Discharge or Defeasance upon Deposit of Moneys or U.S. Government Obligations</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">45</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_075"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 11.03</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_075"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Repayment to Company</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">46</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_076"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 11.04</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_076"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Indemnity for U.S. Government Obligations</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">46</FONT></TD></TR>
</TABLE>



<!-- Field: Page; Sequence: 4; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->iii<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt; width: 17%"><A HREF="#e25030a_077"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 11.05</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 78%"><A HREF="#e25030a_077"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Deposits to Be Held in Escrow</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom; width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">47</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_078"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 11.06</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_078"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Application of Trust Money</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">47</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_079"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 11.07</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_079"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Deposits of Non-U.S. Currencies</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">47</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_080"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase">Article XII</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> IMMUNITY OF CERTAIN PERSONS</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">48</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_081"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 12.01</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_081"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">No Personal Liability</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">48</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_082"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase">Article XIII</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> SUPPLEMENTAL INDENTURES</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">48</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_083"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 13.01</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_083"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Without Consent of Securityholders</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">48</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_084"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 13.02</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_084"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">With Consent of Securityholders; Limitations</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">50</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_085"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 13.03</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_085"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Trustee Protected</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">51</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_086"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 13.04</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_086"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Effect of Execution of Supplemental Indenture</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">51</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_087"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 13.05</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_087"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Notation on or Exchange of Securities</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">51</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_088"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 13.06</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_088"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Conformity with TIA</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">51</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_089"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase">Article XIV</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> SUBORDINATION OF SECURITIES</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">52</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_090"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 14.01</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_090"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Agreement to Subordinate</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">52</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_091"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 14.02</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_091"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Distribution on Dissolution, Liquidation and Reorganization; Subrogation of Securities</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">52</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_092"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 14.03</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_092"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">No Payment on Securities in Event of Default on Senior Indebtedness</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">53</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_093"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 14.04</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_093"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Payments on Securities Permitted</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">54</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_094"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 14.05</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_094"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Authorization of Securityholders to Trustee to Effect Subordination</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">54</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_095"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 14.06</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_095"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Notices to Trustee</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">54</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_096"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 14.07</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_096"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Trustee as Holder of Senior Indebtedness</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">55</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_097"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 14.08</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_097"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Modifications of Terms of Senior Indebtedness</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">55</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_098"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 14.09</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_098"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Reliance on Judicial Order or Certificate of Liquidating Agent</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">55</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_099"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 14.10</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_099"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Satisfaction and Discharge&#894; Discharge and Covenant Defeasance</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">56</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_100"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 14.11</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_100"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Trustee Not Fiduciary for Holders of Senior Indebtedness</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">56</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_101"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase">Article XV</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> MISCELLANEOUS PROVISIONS</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">56</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_102"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 15.01</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_102"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Certificates and Opinions as to Conditions Precedent</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">56</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_103"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 15.02</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_103"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Trust Indenture Act Controls</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">57</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_104"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 15.03</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_104"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Notices to the Company and Trustee</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">57</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_105"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 15.04</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_105"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Notices; Waiver of Notice</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">58</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_106"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 15.05</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_106"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Legal Holiday</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">58</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_107"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 15.06</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_107"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">No Adverse Interpretation of Other Agreements</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">58</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_108"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 15.07</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_108"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Effects of Headings and Table of Contents</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">58</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_109"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 15.08</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_109"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Successors and Assigns</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">59</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_110"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 15.09</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_110"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Severability Clause</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">59</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_111"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 15.10</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_111"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Benefits of Indenture</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">59</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_112"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 15.11</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_112"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Counterparts Originals</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">59</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_113"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 15.12</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_113"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Governing Law; Submission to Jurisdiction; Waiver of Trial by Jury</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">59</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 25.95pt"><A HREF="#e25030a_114"><FONT STYLE="font-size: 10pt">Section 15.13</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#e25030a_114"><FONT STYLE="font-size: 10pt">Certain Tax Information</FONT></A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">59</FONT></TD></TR>
</TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt">* The Table of Contents is
not a part of the Indenture.</FONT></P>


<!-- Field: Page; Sequence: 5; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->iv<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">INDENTURE dated as of October
6, 2020, among Franklin Resources, Inc., a Delaware corporation (the &ldquo;Company&rdquo;), and The Bank of New York Mellon Trust
Company, N.A., a national banking association, as trustee (the &ldquo;Trustee&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>WITNESSETH:</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">WHEREAS, the Company has duly
authorized the execution and delivery of this Indenture to provide for the issuance of debentures, notes, bonds or other evidences
of indebtedness (the &ldquo;Securities&rdquo;) in an unlimited aggregate principal amount to be issued from time to time in one
or more series as provided in this Indenture; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">WHEREAS, all things necessary
to make this Indenture a valid and legally binding agreement of the Company, in accordance with its terms, have been done.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">NOW, THEREFORE, THIS INDENTURE
WITNESSETH:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">That, in consideration of
the premises and the purchase of the Securities by the Holders thereof for the benefit of each other and the equal and proportionate
benefit of all of the present and future Holders of the Securities (and, to the extent the provisions of Article XIV are applicable
to the Securities of any series, the benefit of Senior Indebtedness with respect to the Securities of such series), each party
agrees and covenants as follows:</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><A NAME="e25030a_001"></A>Article
I</FONT><FONT STYLE="font-size: 10pt"><BR>
<U>DEFINITIONS</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">For all purposes of this Indenture,
except as otherwise expressly provided or unless the context otherwise requires:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">(a) the terms defined in this
Article have the meanings assigned to them in this Article and include the plural as well as the singular;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">(b) unless the context otherwise
requires, all terms used herein without definition which are defined in the Trust Indenture Act, either directly or by reference
therein, have the meanings assigned to them therein;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">(c) the words &ldquo;herein&rdquo;,
&ldquo;hereof&rdquo; and &ldquo;hereunder&rdquo; and other words of similar import refer to this Indenture as a whole and not
to any particular Article, Section or other subdivision;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">(d) references to &ldquo;Article&rdquo;
or &ldquo;Section&rdquo; or other subdivision herein are references to an Article, Section or other subdivision of this Indenture;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">(e) &ldquo;or&rdquo; is not
exclusive; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt">(f) any gender used in this
Indenture shall be deemed to include the neuter, masculine or feminine gender.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 6; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_002"></A>Section
1.01 <U>Definitions</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">Except as otherwise expressly
provided or unless the context otherwise requires, the terms defined in this Section 1.01 shall for all purposes of this Indenture
have the meanings hereinafter set forth:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Affiliate</B>. The term
&ldquo;Affiliate,&rdquo; with respect to any specified Person shall mean any other Person directly or indirectly controlling or
controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, &ldquo;control&rdquo;
when used with respect to any specified Person means the power to direct the management and policies of such Person, directly
or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms &ldquo;controlling&rdquo;
and &ldquo;controlled&rdquo; have meanings correlative to the foregoing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Agent</B>. The term &ldquo;Agent&rdquo;
means any Registrar, Paying Agent or Security Custodian.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Applicable Procedures</B>.
The term &ldquo;Applicable Procedures&rdquo; means, with respect to any payment, tender, redemption, transfer or exchange of or
for beneficial interests in any Global Security, the rules and procedures of the Depositary for the series of Securities all or
part of which is evidenced by such Global Security that apply to such payment, tender, redemption, transfer or exchange.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Authenticating Agent</B>.
The term &ldquo;Authenticating Agent&rdquo; shall have the meaning assigned to it in Section 10.09.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Board of Directors</B>.
The term &ldquo;Board of Directors&rdquo; shall mean either the board of directors of the Company or the executive or any other
committee of that board duly authorized to act in respect hereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Board Resolution</B>. The
term &ldquo;Board Resolution&rdquo; shall mean a copy of a resolution or resolutions certified by the Secretary or an Assistant
Secretary of the Company to have been duly adopted by the Board of Directors (or by a committee of the Board of Directors to the
extent that any such committee has been authorized by the Board of Directors to establish or approve the matters contemplated)
and to be in full force and effect on the date of such certification. References to any matter in this Indenture being established
in, by or pursuant to a Board Resolution shall include actions taken and matters established pursuant to authority granted by
one or more Board Resolutions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Business Day</B>. The term
&ldquo;Business Day,&rdquo; when used with respect to any Place of Payment or any other particular location referred to in this
Indenture or in the Securities, shall mean each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking
institutions in that Place of Payment or other location are authorized or obligated by law or executive order to close.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Capital Stock</B>. The
term &ldquo;Capital Stock&rdquo; shall mean:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">(a) in the case of a corporation,
corporate stock;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">(b) in the case of an association
or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate
stock;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">(c) in the case of a partnership
or limited liability company, partnership interests (whether general or limited) or membership interests&#894; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">(d) any other interest or
participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of,
the issuing Person, but excluding from all of the foregoing any debt securities convertible into Capital Stock, whether or not
such debt securities include any right of participation with Capital Stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt"><B>Code</B>. The term &ldquo;Code&rdquo;
shall mean the Internal Revenue Code of 1986, as amended.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt"><B></B></FONT></P>

<!-- Field: Page; Sequence: 7; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Company</B>. The term &ldquo;Company&rdquo;
shall mean the Person named as the &ldquo;Company&rdquo; in the first paragraph of this Indenture until a successor Person shall
have become such pursuant to the applicable provisions of this Indenture, and thereafter &ldquo;Company&rdquo; shall mean such
successor Person.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Company Order</B>. The
term &ldquo;Company Order&rdquo; shall mean a written order signed in the name of the Company by the Chairman of the Board of
Directors, a Vice Chairman, any President, any Co-President, the Chief Executive Officer, the Chief Financial Officer, any Executive
Vice President, any Senior Vice President or Vice President, the Treasurer or Assistant Treasurer, the Controller or Assistant
Controller, the Secretary or Assistant Secretary of the Company, and delivered to the Trustee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Corporate Trust Office</B>.
The term &ldquo;Corporate Trust Office,&rdquo; or other similar term, shall mean the principal office of the Trustee at which
at any particular time its corporate trust business shall be administered, which office at the date hereof is located at The Bank
of New York Mellon Trust Company, N.A., Attention: Corporate Trust Administrator, 400 South Hope Street, Suite 500, Los Angeles,
CA, 90071, or such other address as the Trustee may designate from time to time by notice to the Holders and the Company, or the
principal corporate trust office of any successor Trustee (or such other address as such successor Trustee may designate from
time to time by notice to the Holders and the Company).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Covenant Defeasance</B>.
The term &ldquo;Covenant Defeasance&rdquo; shall have the meaning assigned to it in Section 11.02.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Currency</B>. The term
&ldquo;Currency&rdquo; shall mean U.S. Dollars or Foreign Currency.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Default</B>. The term &ldquo;Default&rdquo;
shall have the meaning assigned to it in Section 10.03.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Defaulted Interest</B>.
The term &ldquo;Defaulted Interest&rdquo; shall have the meaning assigned to it in Section 3.08(b).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Depositary</B>. The term
&ldquo;Depositary&rdquo; shall mean, with respect to the Securities of any series issuable or issued in whole or in part in the
form of one or more Global Securities, each Person designated as Depositary by the Company pursuant to Section 3.01(p) until one
or more successor Depositaries shall have become such pursuant to the applicable provisions of this Indenture, and thereafter
&ldquo;Depositary&rdquo; shall mean or include each Person who is then a Depositary hereunder, and if at any time there is more
than one such Person, &ldquo;Depositary&rdquo; as used with respect to the Securities of any such series shall mean the Depositary
with respect to the Securities of that series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Designated Currency</B>.
The term &ldquo;Designated Currency&rdquo; shall have the meaning assigned to it in Section 3.12.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Discharged</B>. The term
&ldquo;Discharged&rdquo; shall have the meaning assigned to it in Section 11.02.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Electronic Means</B>. The
term &ldquo;Electronic Means&rdquo; shall mean the following communications methods: S.W.I.F.T., e-mail, facsimile transmission,
secure electronic transmission containing applicable authorization codes, passwords and/or authentication keys issued by the Trustee,
or another method or system specified by the Trustee as available for use in connection with its services hereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Event of Default</B>. The
term &ldquo;Event of Default&rdquo; shall have the meaning specified in Section 7.01.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt"><B>Exchange Act</B>. The term
&ldquo;Exchange Act&rdquo; shall mean the United States Securities Exchange Act of 1934, and the rules and regulations promulgated
by the SEC thereunder and any statute successor thereto, in each case as amended from time to time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt"><B></B></FONT></P>

<!-- Field: Page; Sequence: 8; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Exchange Rate</B>. The
term &ldquo;Exchange Rate&rdquo; shall have the meaning assigned to it in Section 7.01.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Floating Rate Security</B>.
The term &ldquo;Floating Rate Security&rdquo; shall mean a Security that provides for the payment of interest at a variable rate
determined periodically by reference to an interest rate index specified pursuant to Section 3.01.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Foreign Currency</B>. The
term &ldquo;Foreign Currency&rdquo; shall mean a currency issued by the government of any country other than the United States
or a composite currency, the value of which is determined by reference to the values of the currencies of any group of countries.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>GAAP</B>. The term &ldquo;GAAP,&rdquo;
with respect to any computations required or permitted hereunder, shall mean generally accepted accounting principles in the United
States as in effect from time to time&#894; provided, however if the Company is required by the SEC to adopt (or is permitted
to adopt and so adopts) a different accounting framework, including but not limited to the International Financial Reporting Standards,
&ldquo;GAAP&rdquo; shall mean such new accounting framework as in effect from time to time, including, without limitation, in
each case, those accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the
American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board
or in such other statements by such other entity as approved by a significant segment of the accounting profession.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Global Security</B>. The
term &ldquo;Global Security&rdquo; shall mean any Security that evidences all or part of a series of Securities, issued in fully-registered
certificated form to the Depositary for such series in accordance with Section 3.03 and bearing the legend prescribed in Section
3.03(g) and any other legend required by the Depositary for such series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Holder&#894; Holder of
Securities</B>. The terms &ldquo;Holder&rdquo; and &ldquo;Holder of Securities&rdquo; are defined under &ldquo;Securityholder;
Holder of Securities; Holder.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Indebtedness</B>. The term
&ldquo;Indebtedness&rdquo; shall mean indebtedness for borrowed money or for the unpaid purchase price of real or personal property
of, or guaranteed by, such Person and computed in accordance with GAAP.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt"><B>Indenture</B>. The term
&ldquo;Indenture&rdquo; or &ldquo;this Indenture&rdquo; shall mean 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 pursuant to the applicable provisions
hereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions of the Trust Indenture
Act that are deemed to be a part of and govern this instrument and any such supplemental indenture, respectively. The term &ldquo;Indenture&rdquo;
shall also include the terms of particular series of Securities established as contemplated by Section 3.01; provided, however,
that if at any time more than one Person is acting as Trustee under this Indenture due to the appointment of one or more separate
Trustees for any one or more separate series of Securities, &ldquo;Indenture&rdquo; shall mean, with respect to such series of
Securities for which any such Person is Trustee, 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 pursuant to the applicable provisions hereof and shall include
the terms of particular series of Securities for which such Person is Trustee established as contemplated by Section 3.01, exclusive,
however, of any provisions or terms which relate solely to other series of Securities for which such Person is not Trustee, regardless
of when such terms or provisions were adopted, and exclusive of any provisions or terms adopted by means of one or more indentures
supplemental hereto executed and delivered after such Person had become such Trustee, but to which such Person, as such Trustee,
was not a party; provided, further that in the event that this Indenture is supplemented or amended by one or more indentures
supplemental hereto which are only applicable to certain series of Securities, the term &ldquo;Indenture&rdquo; for a particular
series of Securities shall only include the supplemental indentures applicable thereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"></P>

<!-- Field: Page; Sequence: 9; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Individual Securities</B>.
The term &ldquo;Individual Securities&rdquo; shall have the meaning specified in Section 3.01(p).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Interest</B>. The term
&ldquo;interest&rdquo; shall mean, unless the context otherwise requires, interest payable on any Securities, and with respect
to an Original Issue Discount Security that by its terms bears interest only after Maturity, interest payable after Maturity.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Interest Payment Date</B>.
The term &ldquo;Interest Payment Date&rdquo; shall mean, with respect to any Security, the Stated Maturity of an installment of
interest on such Security.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Mandatory Sinking Fund
Payment</B>. The term &ldquo;Mandatory Sinking Fund Payment&rdquo; shall have the meaning assigned to it in Section 5.01(b).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Maturity</B>. The term
&ldquo;Maturity,&rdquo; with respect to any Security, shall mean the date on which the principal or an installment of principal
of such Security shall become due and payable as therein and herein provided, whether by declaration of acceleration, call for
redemption or otherwise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Members</B>. The term &ldquo;Members&rdquo;
shall have the meaning assigned to it in Section 3.03(i).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Officer&rsquo;s Certificate</B>.
The term &ldquo;Officer&rsquo;s Certificate&rdquo; shall mean a certificate signed by any President, any Co-President, Chief Executive
Officer, Chief Financial Officer, any Executive Vice President, any Senior Vice President or Vice President, the Treasurer or
any Assistant Treasurer, the Controller or any Assistant Controller, the Secretary or any Assistant Secretary of the Company.
Each such certificate shall include the statements provided for in Section 15.01 if and to the extent required by the provisions
of such Section.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Opinion of Counsel</B>.
The term &ldquo;Opinion of Counsel&rdquo; shall mean an opinion in writing signed by one or more legal counsel, who may be an
employee of or of counsel to the Company, or may be one or more other counsel that meets the requirements, to the extent applicable
to such opinion, provided for in Section 15.01.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Optional Sinking Fund Payment</B>.
The term &ldquo;Optional Sinking Fund Payment&rdquo; shall have the meaning assigned to it in Section 5.01(b).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Original Issue Discount
Security</B>. The term &ldquo;Original Issue Discount Security&rdquo; shall mean any Security that is issued with &ldquo;original
issue discount&rdquo; within the meaning of Section 1273(a) of the Code and the regulations thereunder, or any successor provision,
and any other Security designated by the Company as issued with original issue discount for United States federal income tax purposes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Outstanding</B>. The term
&ldquo;Outstanding,&rdquo; when used with respect to Securities means, as of the date of determination, all Securities theretofore
authenticated and delivered under this Indenture, except:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">(a) Securities theretofore
canceled by the Trustee or delivered to the Trustee for cancellation;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt">(b) Securities or portions
thereof for the payment or redemption of which money in the necessary amount has been theretofore deposited with the Trustee or
any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act
as its own Paying Agent) for the Holders of such Securities (in each case other than pursuant to Section 11.02); provided, however,
that if such Securities or portions thereof are to be redeemed, notice of such redemption has been duly given pursuant to this
Indenture or provision therefor satisfactory to the Trustee has been made;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"></P>

<!-- Field: Page; Sequence: 10; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">(c) Securities as to which
the Company&rsquo;s obligations have been Discharged pursuant to Section 11.02 or as to which Covenant Defeasance has been effected
pursuant to Section 11.02, except, in each case, to the extent provided in Section 11.02; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">(d) Securities that have been
paid pursuant to Section 3.07(b) or in exchange for or in lieu of which other Securities have been authenticated and delivered
pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to a Responsible
Officer of the Trustee proof satisfactory to it that such Securities are held by a protected purchaser in whose hands such Securities
are valid obligations of the Company; <I>provided</I>, however, that in determining whether the Holders of the requisite principal
amount of Securities of a series Outstanding have performed any action hereunder, Securities owned by the Company or any other
obligor upon the Securities of such series or any Affiliate of the Company or of such other obligor shall be disregarded and deemed
not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such action, only
Securities of such series that a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Securities
so owned that have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of
the Trustee the pledgee&rsquo;s right to act with respect to such Securities and that the pledgee is not the Company or any other
obligor upon such Securities or any Affiliate of the Company or of such other obligor. In determining whether the Holders of the
requisite principal amount of Outstanding Securities of a series have performed any action hereunder, the principal amount of
an Original Issue Discount Security that shall be deemed to be Outstanding for such purpose shall be the amount of the principal
thereof that would be due and payable as of the date of such determination upon a declaration of acceleration of the Maturity
thereof pursuant to Section 7.02 and the principal amount of a Security denominated in a Foreign Currency that shall be deemed
to be Outstanding for such purpose shall be the amount calculated pursuant to Section 3.11(b).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Paying Agent</B>. The term
&ldquo;Paying Agent&rdquo; shall have the meaning assigned to it in Section 6.02(a).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Person</B>. The term &ldquo;Person&rdquo;
shall mean an individual, a corporation, a limited liability company, a partnership, an association, a joint stock company, a
trust, an unincorporated organization or a government or an agency or political subdivision thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Place of Payment</B>. The
term &ldquo;Place of Payment&rdquo; shall mean, when used with respect to the Securities of any series, the place or places where
the principal of and premium, if any, and interest on the Securities of that series are payable as specified pursuant to Section
3.01.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Predecessor Security</B>.
The term &ldquo;Predecessor Security&rdquo; shall mean, with respect to any Security, every previous Security evidencing all or
a portion of the same Indebtedness as that evidenced by such particular Security, and, for the purposes of this definition, any
Security authenticated and delivered under Section 3.07 in lieu of a lost, destroyed or stolen Security shall be deemed to evidence
the same Indebtedness as the lost, destroyed or stolen Security.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Record Date</B>. The term
&ldquo;Record Date&rdquo; shall mean, with respect to any interest payable on any Security on any Interest Payment Date, the close
of business on any date specified in such Security for the payment of interest pursuant to Section 3.01.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt"><B>Redemption Date</B>. The
term &ldquo;Redemption Date&rdquo; shall mean, when used with respect to any Security to be redeemed, in whole or in part, the
date fixed for such redemption by or pursuant to this Indenture and the terms of such Security, which, in the case of a Floating
Rate Security, unless otherwise specified pursuant to Section 3.01, shall be an Interest Payment Date only.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt"><B></B></FONT></P>

<!-- Field: Page; Sequence: 11; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Redemption Price</B>. The
term &ldquo;Redemption Price,&rdquo; when used with respect to any Security to be redeemed, in whole or in part, shall mean the
price at which it is to be redeemed pursuant to the terms of the applicable Security and this Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Register</B>. The term
&ldquo;Register&rdquo; shall have the meaning assigned to it in Section 3.05(a).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Registrar</B>. The term
&ldquo;Registrar&rdquo; shall have the meaning assigned to it in Section 3.05(a).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Responsible Officer</B>.
The term &ldquo;Responsible Officer&rdquo; of the Trustee hereunder shall mean any vice president, any assistant vice president,
any trust officer, any assistant trust officer or any other officer associated with the corporate trust department of the Trustee
customarily performing functions similar to those performed by any of the above designated officers, who shall have direct responsibility
for the administration of this Indenture, and also means, with respect to a particular corporate trust matter, any other officer
of the Trustee to whom such matter is referred because of such person&rsquo;s knowledge of and familiarity with the particular
subject.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>SEC</B>. The term &ldquo;SEC&rdquo;
shall mean the United States Securities and Exchange Commission, as constituted from time to time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Securities Act</B>. The
term &ldquo;Securities Act&rdquo; shall mean the United States Securities Act of 1933 and the rules and regulations promulgated
by the SEC thereunder and any statute successor thereto, in each case as amended from time to time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Security</B>. The term
&ldquo;Security&rdquo; or &ldquo;Securities&rdquo; shall have the meaning stated in the recitals and shall more particularly mean
one or more of the Securities duly authenticated by the Trustee and delivered pursuant to the provisions of this Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Security Custodian</B>.
The term &ldquo;Security Custodian&rdquo; shall mean the custodian with respect to any Global Security appointed by the Depositary,
or any successor Person thereto, and shall initially be the Paying Agent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Securityholder; Holder
of Securities; Holder</B>. The term &ldquo;Securityholder&rdquo; or &ldquo;Holder of Securities&rdquo; or &ldquo;Holder,&rdquo;
shall mean the Person in whose name Securities shall be registered in the Register.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt"><B>Senior Indebtedness</B>.
The term &ldquo;Senior Indebtedness&rdquo; means the principal of (and premium, if any) and unpaid interest on (x) Indebtedness
of the Company, whether outstanding on the date hereof or thereafter created, incurred, assumed or guaranteed, for money borrowed
other than (a) any Indebtedness of the Company which when incurred, and without respect to any election under Section 1111(b)
of the United States Bankruptcy Code, was without recourse to the Company, (b) any Indebtedness of the Company to any of its Subsidiaries,
(c) Indebtedness to any employee of the Company, (d) any liability for taxes, (e) Trade Payables and (f) any Indebtedness of the
Company which is expressly subordinate in right of payment to any other Indebtedness of the Company, and (y) renewals, extensions,
modifications and refundings of any such Indebtedness. For purposes of this definition of &ldquo;Senior Indebtedness,&rdquo; the
phrase &ldquo;subordinated in right of payment&rdquo; means debt subordination only and not lien subordination, and accordingly,
(i) unsecured indebtedness shall not be deemed to be subordinated in right of payment to secured indebtedness merely by virtue
of the fact that it is unsecured, and (ii) junior liens, second liens and other contractual arrangements that provide for priorities
among Holders of the same or different issues of indebtedness with respect to any collateral or the proceeds of collateral shall
not constitute subordination in right of payment. This definition may be modified or superseded by a supplemental indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt"><B></B></FONT></P>

<!-- Field: Page; Sequence: 12; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Special Record Date</B>.
The term &ldquo;Special Record Date&rdquo; shall have the meaning assigned to it in Section 3.08(b)(i).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Stated Maturity</B>. The
term &ldquo;Stated Maturity&rdquo; when used with respect to any Security or any installment of principal or interest thereon,
shall mean the date specified in such Security as the fixed date on which the principal (or any portion thereof) of or premium,
if any, on such Security or such installment of principal or interest is due and payable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Subsidiary</B>. The term
&ldquo;Subsidiary,&rdquo; when used with respect to any Person, shall mean:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">(a) any corporation, limited
liability company, association or other business entity of which more than 50% of the total voting power of shares of Capital
Stock entitled (without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders&rsquo;
agreement that effectively transfers voting power) to vote in the election of directors, managers or trustees of the corporation,
limited liability company, association or other business entity is at the time owned or controlled, directly or indirectly, by
that Person or one or more of the other Subsidiaries of that Person (or a combination thereof)&#894; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">(b) any partnership (i) the
sole general partner or the managing general partner of which is such Person or a Subsidiary of such Person or (ii) the only general
partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Successor Company</B>.
The term &ldquo;Successor Company&rdquo; shall have the meaning assigned to it in Section 3.06(i).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Trade Payables</B>. The
term &ldquo;Trade Payables&rdquo; means accounts payable or any other Indebtedness or monetary obligations to trade creditors
created or assumed by the Company or any Subsidiary of the Company in the ordinary course of business (including guarantees thereof
or instruments evidencing such liabilities).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Trust Indenture Act&#894;
TIA</B>. The term &ldquo;Trust Indenture Act&rdquo; or &ldquo;TIA&rdquo; shall mean the Trust Indenture Act of 1939, as amended,
and the rules and regulations thereunder as in effect on the date of this Indenture, except as provided in Section 13.06 and except
to the extent any amendment to the Trust Indenture Act expressly provides for application of the Trust Indenture Act as in effect
on another date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Trustee</B>. The term &ldquo;Trustee&rdquo;
shall mean the Person named as the &ldquo;Trustee&rdquo; in the first paragraph of this Indenture until a successor Trustee shall
have become such with respect to one or more series of Securities pursuant to the applicable provisions of this Indenture, and
thereafter &ldquo;Trustee&rdquo; shall mean or include each Person who is then a Trustee hereunder, and if at any time there is
more than one such Person, &ldquo;Trustee&rdquo; as used with respect to the Securities of any series shall mean the Trustee with
respect to Securities of that series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>U.S. Dollars</B>. The term
&ldquo;U.S. Dollars&rdquo; shall mean such currency of the United States as at the time of payment shall be legal tender for the
payment of public and private debts.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>U.S. Government Obligations</B>.
The term &ldquo;U.S. Government Obligations&rdquo; shall have the meaning assigned to it in Section 11.02.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt"><B>United States</B>. The
term &ldquo;United States&rdquo; shall mean the United States of America (including the States and the District of Columbia),
its territories and its possessions and other areas subject to its jurisdiction.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 13; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><A NAME="e25030a_003"></A>Article
II</FONT><FONT STYLE="font-size: 10pt"><BR>
<U>FORMS OF SECURITIES</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_004"></A>Section
2.01 <U>Terms of the Securities</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) The
Securities of each series shall be substantially in the form set forth in an Officer&rsquo;s Certificate or in one or more indentures
supplemental hereto, and shall have such appropriate insertions, omissions, substitutions and other variations as are required
or not prohibited by this Indenture, and may have such letters, numbers or other marks of identification or designation and such
legends or endorsements placed thereon as the Company may deem appropriate and as are not prohibited by 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 any series of the Securities may be listed or of any automated quotation system
on which any such series may be quoted, or to conform to usage, all as determined by the officers executing such Securities as
conclusively evidenced by their execution of such Securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) The
terms and provisions of the Securities shall constitute, and are hereby expressly made, a part of this Indenture, and, to the
extent applicable, the Company and the Trustee, by their execution and delivery of this Indenture expressly agree to such terms
and provisions and to be bound thereby.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_005"></A>Section
2.02 <U>Form of Trustee&rsquo;s Certificate of Authentication</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) Only
such of the Securities as shall bear thereon a certificate substantially in the form of the Trustee&rsquo;s certificate of authentication
hereinafter recited, executed by the Trustee by manual, facsimile or electronic signature shall be valid or become obligatory
for any purpose or entitle the Holder thereof to any right or benefit under this Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) Each
Security shall be dated the date of its authentication, except that any Global Security shall be dated as of the date specified
as contemplated in Section 3.01.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) The
form of the Trustee&rsquo;s certificate of authentication to be borne by the Securities shall be substantially as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt">TRUSTEE&rsquo;S
CERTIFICATE OF AUTHENTICATION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">This is one of the Securities
of the series designated therein referred to in the within-mentioned Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">Date of authentication:
___________ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Bank of New York Mellon Trust Company, N.A., as Trustee</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______________________
Authorized Signatory</FONT></P>
<!-- Field: Page; Sequence: 14; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_006"></A>Section
2.03 <U>Form of Trustee&rsquo;s Certificate of Authentication by an Authenticating Agent</U>. If at any time there shall be an
Authenticating Agent appointed with respect to any series of Securities, then the Trustee&rsquo;s Certificate of Authentication
by such Authenticating Agent to be borne by Securities of each such series shall be substantially as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center"><FONT STYLE="font-size: 10pt"></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt">TRUSTEE&rsquo;S
CERTIFICATE OF AUTHENTICATION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">This is one of the Securities
of the series designated therein referred to in the within-mentioned Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">Date of authentication: ___________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Bank of New York Mellon Trust Company, N.A., as Trustee</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 40%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 60%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">[NAME OF AUTHENTICATING AGENT]</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">as Authenticating Agent</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">By:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">Authorized Signatory</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><A NAME="e25030a_007"></A>Article
III</FONT><FONT STYLE="font-size: 10pt"><BR>
<U>THE DEBT SECURITIES</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_008"></A>Section
3.01 <U>Amount Unlimited; Issuable in Series</U>. 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. There shall be set forth in an Officer&rsquo;s
Certificate or in one or more indentures supplemental hereto, prior to the issuance of Securities of any series:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) the
Securities of all other series, except to the extent that additional Securities of an existing series are being issued);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) any
limit upon the aggregate principal amount of the Securities of the series that may be authenticated and delivered under this Indenture
(except for Securities authenticated and delivered upon transfer of, or in exchange for, or in lieu of, other Securities of such
series pursuant to Section 3.04, 3.06, 3.07, 4.06, or 13.05);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) the
dates on which or periods during which the Securities of the series may be issued, and the dates on, or the range of dates within,
which the principal of and premium, if any, on the Securities of such series are or may be payable or the method by which such
date or dates shall be determined or extended;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(d) the
rate or rates at which the Securities of the series shall bear interest, if any, or the method by which such rate or rates shall
be determined, whether such interest shall be payable in cash or additional Securities of the same series or another class or
series of securities or shall accrue and increase the aggregate principal amount outstanding of such series (including if such
Securities were originally issued at a discount), the date or dates from which such interest shall accrue, or the method by which
such date or dates shall be determined, the Interest Payment Dates on which any such interest shall be payable, and the Record
Dates for the determination of Holders to whom interest is payable on such Interest Payment Dates or the method by which such
date or dates shall be determined, the right, if any, to extend or defer interest payments and the duration of such extension
or deferral;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(e) if other
than U.S. Dollars, the Foreign Currency in which Securities of the series shall be denominated or in which payment of the principal
of, premium, if any, or interest on the Securities of the series shall be payable and any other terms concerning such payment;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(f) if the
amount of payment of principal of, premium, if any, or interest on the Securities of the series may be determined with reference
to an index, formula or other method including, but not limited to, an index based on a Currency or Currencies other than that
in which the Securities are stated to be payable, the manner in which such amounts shall be determined;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 15; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(g) if the
principal of, premium, if any, or interest on Securities of the series are to be payable, at the election of the Company or a
Holder thereof, in a Currency other than that in which the Securities are denominated or stated to be payable without such election,
the period or periods within which, and the terms and conditions upon which, such election may be made and the time and the manner
of determining the exchange rate between the Currency in which the Securities are denominated or payable without such election
and the Currency in which the Securities are to be paid if such election is made;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(h) the
place or places, if any, in addition to or instead of the Corporate Trust Office of the Trustee where the principal of, premium,
if any, and interest on Securities of the series shall be payable, and where Securities of any series may be presented for registration
of transfer, exchange or conversion, and the place or places where notices and demands to or upon the Company in respect of the
Securities of such series may be made;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(i) the
price or prices at which, the period or periods within which or the date or dates on which, and the terms and conditions upon
which Securities of the series may be redeemed, in whole or in part, at the option of the Company, if the Company is to have that
option;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(j) the
obligation or right, if any, of the Company to redeem, purchase or repay Securities of the series pursuant to any sinking fund,
amortization or analogous provisions or at the option of a Holder thereof and the price or prices at which, the period or periods
within which or the date or dates on which, the Currency or Currencies in which and the terms and conditions upon which Securities
of the series shall be redeemed, purchased or repaid, in whole or in part, pursuant to such obligation;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(k) if other
than denominations of $2,000 and integral multiples of $1,000 in excess thereof, the denominations in which Securities of the
series shall be issuable;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(l) if other
than the principal amount thereof, the portion of the principal amount of the Securities of the series which shall be payable
upon declaration of acceleration of the Maturity thereof pursuant to Section 7.02;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(m) the
guarantors, if any, of the Securities of the series, and the extent of the guarantees (including provisions relating to seniority,
subordination, and the release of the guarantors), if any, and any additions or changes to permit or facilitate guarantees of
such Securities;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(n) whether
the Securities of the series are to be issued as Original Issue Discount Securities and the amount of discount with which such
Securities may be issued;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(o) provisions,
if any, for the defeasance of Securities of the series in whole or in part and any addition to or change in the provisions related
to satisfaction and discharge;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(p) whether
the Securities of the series are to be issued in whole or in part in the form of one or more Global Securities and, in such case,
the Depositary for such Global Security or Global Securities, and the terms and conditions, if any, upon which interests in such
Global Security or Global Securities may be exchanged in whole or in part for the individual securities represented thereby in
definitive form registered in the name or names of Persons other than such Depositary or a nominee or nominees thereof (&ldquo;Individual
Securities&rdquo;);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(q) the
date as of which any Global Security of the series shall be dated if other than the original issuance of the first Security of
the series to be issued;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(r) the
form of the Securities of the series;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 16; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(s) if the
Securities of the series are to be convertible into or exchangeable for any securities or property of any Person (including the
Company), the terms and conditions upon which such Securities will be so convertible or exchangeable, and any additions or changes
to this Indenture, if any, to permit or facilitate such conversion or exchange;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(t) whether
the Securities of such series are subject to subordination and the terms of such subordination;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(u) any
restriction or condition on the transferability of the Securities of such series;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(v) any
addition or change in the provisions related to compensation and reimbursement of the Trustee which applies to Securities of such
series;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(w) any
addition or change in the provisions related to supplemental indentures set forth in Sections 13.01, 13.02 and 13.04 which applies
to Securities of such series;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(x) provisions,
if any, granting special rights to Holders upon the occurrence of specified events;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(y) any
addition to or change in the Events of Default which applies to any Securities of the series and any change in the right of the
Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section
7.02 and any addition or change in the provisions set forth in Article VII which applies to Securities of the series;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(z) any
addition to or change in the covenants set forth in Article VI which applies to Securities of the series;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(aa) if
any payment or other obligations on Securities of such series or guarantees thereof are to be secured by any property, the nature
of such security and provisions related thereto; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(bb) any
other terms of the Securities of such series (which terms shall not be inconsistent with the provisions of the TIA, but may modify,
amend, supplement or delete any of the terms of this Indenture with respect to such series).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">All Securities of any one
series shall be substantially identical, except as to denomination and except as may otherwise be provided herein or set forth
in a Company Order or in one or more indentures supplemental hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_009"></A>Section
3.02 <U>Denominations</U>. In the absence of any specification pursuant to Section 3.01 with respect to Securities of any series,
the Securities of such series shall be issuable only as Securities in denominations of $2,000 and integral multiples of $1,000
in excess thereof, and shall be payable only in U.S. Dollars.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_010"></A>Section
3.03 <U>Execution, Authentication, Delivery and Dating</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) The
Securities shall be executed in the name and on behalf of the Company by the manual, facsimile or electronic signature of any
President, any Co-President, Chief Executive Officer, Chief Financial Officer, one of its Executive Vice Presidents, Senior Vice
Presidents or Vice Presidents, its Controller or one of its Assistant Controllers, its Treasurer or one of its Assistant Treasurers,
its Secretary or one of its Assistant Secretaries. If the Person whose signature is on a Security no longer holds that office
at the time the Security is authenticated and delivered, the Security shall nevertheless be valid.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 17; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) 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 Company Order for the authentication and delivery of
such Securities and, if required pursuant to Section 3.01, a supplemental indenture or an Officer&rsquo;s Certificate setting
forth the terms of the Securities of such series. The Trustee shall thereupon authenticate and deliver such Securities without
any further action by the Company. The Company Order shall specify the amount of Securities to be authenticated and the date on
which the original issue of such Securities is to be authenticated.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) In authenticating
the first Securities of any series and accepting the additional responsibilities under this Indenture in relation to such Securities
the Trustee shall receive, and (subject to Section 10.02) shall be fully protected in relying upon:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(i) an executed
supplemental indenture, if any;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(ii) an
Officer&rsquo;s Certificate delivered in accordance with Section 15.01; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(iii) an
Opinion of Counsel delivered in accordance with Section 15.01 and which shall also state (subject to any assumptions or qualifications
deemed necessary by counsel providing such Opinion of Counsel):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(1) that
the form of such Securities has been established in conformity with the provisions of this Indenture;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(2) that
the terms of such Securities have been established in conformity with the provisions of this Indenture; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(3) that
such Securities, when authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions
specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company, enforceable in accordance
with their terms, subject to any necessary assumptions or qualifications, including, without limitation, bankruptcy, insolvency,
reorganization and other laws of general applicability relating to or affecting the enforcement of creditors&rsquo; rights and
to general equity principles.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(d) The
Trustee shall have the right to decline to authenticate and deliver the Securities under this Section 3.03 if the issue of the
Securities pursuant to this Indenture will adversely affect the Trustee&rsquo;s own rights, duties or immunities under the Securities
and this Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(e) Each
Security shall be dated the date of its authentication, except as otherwise provided pursuant to Section 3.01 with respect to
the Securities of such series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(f) Notwithstanding
the provisions of Section 3.01 and of this Section 3.03, if all of the Securities of any series are not to be originally issued
at the same time, then the documents required to be delivered pursuant to this Section 3.03 must be delivered only once prior
to the authentication and delivery of the first Security of such series&#894;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(g) If the
Company shall establish pursuant to Section 3.01 that the Securities of a series are to be issued in whole or in part in the form
of one or more Global Securities, then the Company shall execute and the Trustee shall authenticate and deliver one or more Global
Securities that (i) shall represent an aggregate amount equal to the aggregate principal amount of the Outstanding Securities
of such series to be represented by such Global Securities, (ii) shall be registered, if in registered form, in the name of the
Depositary for such Global Security or Global Securities or the nominee of such Depositary, (iii) shall be delivered by the Trustee
to such Depositary or the applicable Security Custodian or pursuant to such Depositary&rsquo;s instruction and (iv) shall bear
a legend substantially to the following effect (or to such other effect as may be required by such Depositary):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 18; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">&ldquo;THIS SECURITY IS A
GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR
A NOMINEE OF THE DEPOSITARY, WHICH MAY BE TREATED BY THE COMPANY, THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS
SECURITY FOR ALL PURPOSES.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">UNLESS AND UNTIL IT IS EXCHANGED
IN WHOLE OR IN PART FOR THE INDIVIDUAL SECURITIES REPRESENTED HEREBY, THIS GLOBAL SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A
WHOLE (I) BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR (II) BY A NOMINEE OF THE DEPOSITARY OR THE DEPOSITARY TO A SUCCESSOR
DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE
OR PAYMENT AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &amp; CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE &amp; CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE &amp; CO., HAS AN INTEREST HEREIN.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">TRANSFERS OF THIS GLOBAL SECURITY
SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, OR BY A NOMINEE OF
THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY, OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR
DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">The aggregate principal amount
of each Global Security may from time to time be increased or decreased by adjustments made on the records of the Security Custodian,
as provided in this Indenture, or on a schedule to such Global Security.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(h) Each
Depositary designated pursuant to Section 3.01 for a Global Security in registered form must, at the time of its designation and
at all times while it serves as such Depositary, be a clearing agency registered under the Exchange Act and any other applicable
statute or regulation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(i) Members
of, or participants in, the Depositary (&ldquo;Members&rdquo;) shall have no rights under this Indenture with respect to any Global
Security held on their behalf by the Depositary or by the Security Custodian under such Global Security, and the Depositary may
be treated by the Company, the Trustee, the Paying Agent and the Registrar and any of their agents as the absolute owner of such
Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee,
the Paying Agent or the Registrar or any of their agents from giving effect to any written certification, proxy or other authorization
furnished by the Depositary or impair, as between the Depositary and its Members, the operation of customary practices of the
Depositary governing the exercise of the rights of an owner of a beneficial interest in any Global Security. The Holder of a Global
Security may grant proxies and otherwise authorize any Person, including Members and Persons that may hold interests through Members,
to take any action that a Holder is entitled to take under this Indenture or the Securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 19; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(j) No Security
shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Security
a certificate of authentication substantially in one of the forms provided for herein duly executed by the Trustee or by an Authenticating
Agent by manual, facsimile or electronic signature of an authorized signatory of the Trustee, and such certificate upon any Security
shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder and
is entitled to the benefits of this Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_011"></A>Section
3.04 <U>Temporary Securities</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) Pending
the preparation of definitive Securities of any series, the Company may execute, and upon Company Order the Trustee shall authenticate
and deliver, temporary Securities that are printed, lithographed, typewritten, mimeographed or otherwise reproduced, in any authorized
denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued, in registered form and
with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Securities may
determine, as conclusively evidenced by their execution of such Securities. Any such temporary Security may be in the form of
one or more Global Securities, representing all or a portion of the Outstanding Securities of such series. Every such temporary
Security shall be executed by the Company and shall be authenticated and delivered by the Trustee upon the same conditions and
in substantially the same manner, and with the same effect, as the definitive Security or Securities in lieu of which it is issued.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) If temporary
Securities of any series are issued, the Company will cause definitive Securities of such series to be prepared without unreasonable
delay. After the preparation of definitive Securities of such series, the temporary Securities of such series shall be exchangeable
for definitive Securities of such series upon surrender of such temporary Securities at the office or agency of the Company in
a Place of Payment for such series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary
Securities of any series, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like
principal amount of definitive Securities of the same series of authorized denominations and of like tenor. Until so exchanged,
the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive
Securities of such series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) Upon
any exchange of a portion of a temporary Global Security for a definitive Global Security or for the Individual Securities represented
thereby pursuant to this Section 3.04 or Section 3.06, the temporary Global Security shall be endorsed by the Trustee to reflect
the reduction of the principal amount evidenced thereby, whereupon the principal amount of such temporary Global Security shall
be reduced for all purposes by the amount so exchanged and endorsed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_012"></A>Section
3.05 <U>Registrar</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) The
Company will keep, at an office or agency to be maintained by it in a Place of Payment where Securities may be presented for registration
or presented and surrendered for registration of transfer or of exchange, and where Securities of any series that are convertible
or exchangeable may be surrendered for conversion or exchange, as applicable (the &ldquo;Registrar&rdquo;), a security register
for the registration and the registration of transfer or of exchange of the Securities (the registers maintained in such office
and in any other office or agency of the Company in a Place of Payment being herein sometimes collectively referred to as the
&ldquo;Register&rdquo;), as in this Indenture provided, which Register shall at all reasonable times be open for inspection by
the Trustee. Such Register shall be in written form or in any other form capable of being converted into written form within a
reasonable time. The Company may have one or more co-Registrars&#894; the term &ldquo;Registrar&rdquo; includes any co-Registrar.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 20; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) The
Company shall enter into an appropriate agency agreement with any Registrar or co-Registrar not a party to this Indenture. The
agreement shall implement the provisions of this Indenture that relate to such Agent. The Company shall notify the Trustee of
the name and address of each such Agent. If the Company fails to maintain a Registrar for any series, the Trustee shall act as
such and shall be entitled to appropriate compensation therefor pursuant to Section 10.01. The Company or any Affiliate thereof
may act as Registrar, co-Registrar or transfer agent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) The
Company hereby appoints the Trustee at its Corporate Trust Office as Registrar in connection with the Securities and this Indenture,
until such time as another Person is appointed as such. If, at any time, the Trustee is not the Registrar, the Registrar shall
make available to the Trustee 10 days prior to each Interest Payment Date and at such other times as the Trustee may reasonably
request the names and addresses of the Holders as they appear in the Register.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_013"></A>Section
3.06 <U>Transfer and Exchange</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) <U>Transfer</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(i) Upon
surrender for registration of transfer of any Security of any series at the Registrar the Company shall execute, and the Trustee
or any Authenticating Agent shall authenticate and deliver, in the name of the designated transferee, one or more new Securities
of the same series for like aggregate principal amount of any authorized denomination or denominations. The transfer of any Security
shall not be valid as against the Company or the Trustee unless registered at the Registrar at the request of the Holder, or at
the request of his, her or its attorney duly authorized in writing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(ii) Notwithstanding
any other provision of this Section, unless and until it is exchanged in whole or in part for the Individual Securities represented
thereby, a Global Security representing all or a portion of the Securities of a series may not be transferred except as a whole
by the Depositary for such series to a nominee of such Depositary or by a nominee of such Depositary to such Depositary or another
nominee of such Depositary or by such Depositary or any such nominee to a successor Depositary for such series or a nominee of
such successor Depositary.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) <U>Exchange</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(i) At the
option of the Holder, Securities of any series (other than a Global Security, except as set forth below) may be exchanged for
other Securities of the same series for like aggregate principal amount of any authorized denomination or denominations, upon
surrender of the Securities to be exchanged at the Registrar.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(ii) Whenever
any Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the
Securities that the Holder making the exchange is entitled to receive.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) Exchange
of Global Securities for Individual Securities. Except as provided below, owners of beneficial interests in Global Securities
will not be entitled to receive Individual Securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(i) Individual
Securities shall be issued to all owners of beneficial interests in a Global Security in exchange for such interests if: (A) at
any time the Depositary for the Securities of a series notifies the Company that it is unwilling or unable to continue as Depositary
for the Securities of such series or if at any time the Depositary for the Securities of such series shall no longer be eligible
under Section 3.03(h) and, in each case, a successor Depositary is not appointed by the Company within 90 days of such notice,
or (B) the Company executes and delivers to the Trustee and the Registrar an Officer&rsquo;s Certificate stating that such Global
Security shall be so exchangeable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 21; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">In connection with the exchange
of an entire Global Security for Individual Securities pursuant to this subsection (c), such Global Security shall be deemed to
be surrendered to the Trustee for cancellation, and the Company shall execute, and the Trustee, upon receipt of a Company Order
for the authentication and delivery of Individual Securities of such series, will authenticate and deliver to each beneficial
owner identified by the Depositary in exchange for its beneficial interest in such Global Security, an equal aggregate principal
amount of Individual Securities of authorized denominations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(ii) The
owner of a beneficial interest in a Global Security will be entitled to receive an Individual Security in exchange for such interest
if an Event of Default has occurred and is continuing. Upon receipt by the Security Custodian and Registrar of instructions from
the Holder of a Global Security directing the Security Custodian and Registrar to (x) issue one or more Individual Securities
in the amounts specified to the owner of a beneficial interest in such Global Security and (y) debit or cause to be debited an
equivalent amount of beneficial interest in such Global Security, subject to the rules and regulations of the Depositary:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(A) the
Security Custodian and Registrar shall notify the Company and the Trustee of such instructions, identifying the owner and amount
of such beneficial interest in such Global Security;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(B) the
Company shall promptly execute and the Trustee, upon receipt of a Company Order for the authentication and delivery of Individual
Securities of such series, shall authenticate and deliver to such beneficial owner Individual Securities in an equivalent amount
to such beneficial interest in such Global Security; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(C) the
Security Custodian and Registrar shall decrease such Global Security by such amount in accordance with the foregoing. In the event
that the Individual Securities are not issued to each such beneficial owner promptly after the Registrar has received a request
from the Holder of a Global Security to issue such Individual Securities, the Company expressly acknowledges, with respect to
the right of any Holder to pursue a remedy pursuant to Section 7.07 hereof, the right of any beneficial Holder of Securities to
pursue such remedy with respect to the portion of the Global Security that represents such beneficial Holder&rsquo;s Securities
as if such Individual Securities had been issued.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(iii) If
specified by the Company pursuant to Section 3.01 with respect to a series of Securities, the Depositary for such series of Securities
may surrender a Global Security for such series of Securities in exchange in whole or in part for Individual Securities of such
series on such terms as are acceptable to the Company and such Depositary. Thereupon, the Company shall execute, and the Trustee
shall authenticate and deliver, without service charge,</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(A) to each
Person specified by such Depositary a new Individual Security or new Individual Securities of the same series, of any authorized
denomination as requested by such Person in aggregate principal amount equal to and in exchange for such Person&rsquo;s beneficial
interest in the Global Security&#894; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(B) to such
Depositary a new Global Security in a denomination equal to the difference, if any, between the principal amount of the surrendered
Global Security and the aggregate principal amount of Individual Securities delivered to Holders thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(iv) In
any exchange provided for in clauses (i) through (iii), the Company will execute and the Trustee will authenticate and deliver
Individual Securities in registered form in authorized denominations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 22; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(v) Upon
the exchange in full of a Global Security for Individual Securities, such Global Security shall be canceled by the Trustee. Individual
Securities issued in exchange for a Global Security pursuant to this Section shall be registered in such names and in such authorized
denominations as the Depositary for such Global Security, pursuant to instructions from its direct or indirect participants or
otherwise, shall instruct the Trustee. The Trustee shall deliver such Securities to the Persons in whose names such Securities
are so registered.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(d) All
Securities issued upon any registration of transfer or exchange of Securities shall be valid obligations of the Company evidencing
the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered for such registration of
transfer or exchange.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(e) Every
Security presented or surrendered for registration of transfer, or for exchange or payment shall (if so required by the Company,
the Trustee or the Registrar) be duly endorsed, or be accompanied by a written instrument or instruments of transfer in form satisfactory
to the Company, the Trustee and the Registrar, duly executed by the Holder thereof or by his, her or its attorney duly authorized
in writing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(f) No service
charge will be made for any registration of transfer or exchange of Securities. The Company or the Trustee may require payment
of a sum sufficient to cover any tax, assessment or other governmental charge that may be imposed in connection with any registration
of transfer or exchange of Securities, other than those expressly provided in this Indenture to be made at the Company&rsquo;s
own expense or without expense or charge to the Holders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(g) The
Company shall not be required to (i) register, transfer or exchange Securities of any series during a period beginning at the
opening of business 15 days before the day of the transmission of a notice of redemption of Securities of such series selected
for redemption under Section 4.03 and ending at the close of business on the day of such transmission, or (ii) register, transfer
or exchange any Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed
in part.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(h) Prior
to the due presentation for registration of transfer or exchange of any Security, the Company, the Trustee, the Paying Agent,
the Registrar, any co-Registrar or any of their agents may deem and treat the Person in whose name a Security is registered as
the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notation of ownership
or other writing thereon) for all purposes whatsoever, and none of the Company, the Trustee, the Paying Agent, the Registrar,
any co-Registrar or any of their agents shall be affected by any notice to the contrary.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(i) In case
a successor Company (&ldquo;Successor Company&rdquo;) has executed an indenture supplemental hereto with the Trustee pursuant
to Article XIII, any of the Securities authenticated or delivered pursuant to such transaction may, from time to time, at the
request of the Successor Company, be exchanged for other Securities executed in the name of the Successor Company with such changes
in phraseology and form as may be appropriate, but otherwise identical to the Securities surrendered for such exchange and of
like principal amount&#894; and the Trustee, upon Company Order of the Successor Company, shall authenticate and deliver Securities
as specified in such order for the purpose of such exchange. If Securities shall at any time be authenticated and delivered in
any new name of a Successor Company pursuant to this Section 3.06 in exchange or substitution for or upon registration of transfer
of any Securities, such Successor Company, at the option of the Holders but without expense to them, shall provide for the exchange
of all Securities at the time Outstanding for Securities authenticated and delivered in such new name.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(j) Each
Holder of a Security agrees to indemnify the Company and the Trustee against any liability that may result from the transfer,
exchange or assignment of such Holder&rsquo;s Security in violation of any provision of this Indenture and/or applicable United
States federal or state securities laws.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 23; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(k) 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 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(l) Neither
the Trustee nor any agent of the Trustee shall have any responsibility for any actions taken or not taken by the Depositary.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_014"></A>Section
3.07 <U>Mutilated, Destroyed, Lost and Stolen Securities</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) If (i)
any mutilated Security is surrendered to the Trustee at its Corporate Trust Office or (ii) the Company and the Trustee receive
evidence to their satisfaction of the destruction, loss or theft of any Security, and there is delivered to the Company and the
Trustee security or indemnity satisfactory to them to save each of them and any Paying Agent harmless, and neither the Company
nor the Trustee receives notice that such Security has been acquired by a protected purchaser, then the Company shall execute
and upon Company Order the Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed,
lost or stolen Security, a new Security of the same series and of like tenor, form, terms and principal amount, bearing a number
not contemporaneously outstanding, that neither gain nor loss in interest shall result from such exchange or substitution. In
every case, the applicant for a replacement Security shall furnish the Company and the Trustee such security or indemnity as may
be required by and satisfactory to them to save each of them harmless.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) In case
any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its discretion
may, instead of issuing a new Security, pay the amount due on such Security in accordance with its terms.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) Upon
the issuance of any new Security under this Section, the Company may require the payment of a sum sufficient to cover any tax
or other governmental charge that may be imposed in respect thereto and any other expenses (including the fees and expenses of
the Trustee) connected therewith.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(d) Every
new Security of any series issued pursuant to this Section shall constitute an original additional contractual obligation of the
Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled
to all the benefits of this Indenture equally and proportionately with any and all other Securities of that series duly issued
hereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_015"></A>Section
3.08 <U>Payment of Interest&#894; Interest Rights Preserved</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) Interest
on any Security that is payable and is punctually paid or duly provided for on any Interest Payment Date shall be paid to the
Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Record
Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record
Date. Payment of interest on Securities shall be made at the Corporate Trust Office (except as otherwise specified pursuant to
Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address
shall appear in the Register or, in accordance with arrangements satisfactory to the Trustee, by wire transfer to an account designated
by the Holder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) Any
interest on any Security that is payable but is not punctually paid or duly provided for on any Interest Payment Date (herein
called &ldquo;Defaulted Interest&rdquo;) shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue
of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each
case, as provided in clause (i) or (ii) below:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 24; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(i) The
Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective
Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest
(a &ldquo;Special Record Date&rdquo;), 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
be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than
10 calendar 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 given to the Holders of such Securities not less than 10
calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record
Date therefor having been given as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities
(or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no
longer be payable pursuant to the following clause (ii).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(ii) The
Company may make payment of any Defaulted Interest on 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) Subject
to the provisions set forth herein relating to Record Dates, each Security delivered pursuant to any provision of this Indenture
in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest
accrued and unpaid, and to accrue, which were carried by such other Security.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_016"></A>Section
3.09 <U>Cancellation</U>. Unless otherwise specified pursuant to Section 3.01 for Securities of any series, all Securities surrendered
for payment, redemption, registration of transfer or exchange or credit against any sinking fund or otherwise shall, if surrendered
to any Person other than the Trustee, be delivered to the Trustee for cancellation and shall be promptly canceled by it and, if
surrendered to the Trustee, shall be promptly canceled by it. The Company may at any time deliver to the Trustee for cancellation
any Securities previously authenticated and delivered hereunder that the Company may have acquired in any manner whatsoever, and
all Securities so delivered shall be promptly canceled by the Trustee. No Securities shall be authenticated in lieu of or in exchange
for any Securities canceled as provided in this Section, except as expressly permitted by this Indenture. The Trustee shall dispose
of all canceled Securities held by it in accordance with its then customary procedures and deliver a certificate of such disposal
to the Company upon its request therefor. The acquisition of any Securities by the Company shall not operate as a redemption or
satisfaction of the Indebtedness represented thereby unless and until such Securities are surrendered to the Trustee for cancellation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 25; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_017"></A>Section
3.10 <U>Computation of Interest</U>. Except as otherwise specified pursuant to Section 3.01 for Securities of any series, interest
on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_018"></A>Section
3.11 <U>Currency of Payments in Respect of Securities</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) Except
as otherwise specified pursuant to Section 3.01 for Securities of any series, payment of the principal of and premium, if any,
and interest on Securities of such series will be made in U.S. Dollars.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) For
purposes of any provision of this Indenture where the Holders of Outstanding Securities may perform an action that requires that
a specified percentage of the Holders of Outstanding Securities of all series perform such action and for purposes of any decision
or determination by the Trustee of amounts due and unpaid for the principal of and premium, if any, and interest on the Securities
of all series in respect of which moneys are to be disbursed ratably, the principal of and premium, if any, and interest on the
Outstanding Securities denominated in a Foreign Currency will be the amount in U.S. Dollars based upon exchange rates, determined
as specified pursuant to Section 3.01 for Securities of such series, as of the date for determining whether the Holders entitled
to perform such action have performed it or as of the date of such decision or determination by the Trustee, as the case may be.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) Any
decision or determination to be made regarding exchange rates shall be made by an agent appointed by the Company&#894; provided,
that such agent shall accept such appointment in writing and the terms of such appointment shall, in the opinion of the Company
at the time of such appointment, require such agent to make such determination by a method consistent with the method provided
pursuant to Section 3.01 for the making of such decision or determination. All decisions and determinations of such agent regarding
exchange rates shall, in the absence of manifest error, be conclusive for all purposes and irrevocably binding upon the Company,
the Trustee and all Holders of the Securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_019"></A>Section
3.12 <U>Judgments</U>. The Company may provide pursuant to Section 3.01 for Securities of any series that (a) the obligation,
if any, of the Company to pay the principal of, premium, if any, and interest on the Securities of any series in a Foreign Currency
or U.S. Dollars (the &ldquo;Designated Currency&rdquo;) as may be specified pursuant to Section 3.01 is of the essence and agrees
that, to the fullest extent possible under applicable law, judgments in respect of such Securities shall be given in the Designated
Currency; (b) the obligation of the Company to make payments in the Designated Currency of the principal of and premium, if any,
and interest on such Securities shall, notwithstanding any payment in any other Currency (whether pursuant to a judgment or otherwise),
be discharged only to the extent of the amount in the Designated Currency that the Holder receiving such payment may, in accordance
with normal banking procedures, purchase with the sum paid in such other Currency (after any premium and cost of exchange) on
the business day in the country of issue of the Designated Currency or in the international banking community (in the case of
a composite currency) immediately following the day on which such Holder receives such payment; (c) if the amount in the Designated
Currency that may be so purchased for any reason falls short of the amount originally due, the Company shall pay such additional
amounts as may be necessary to compensate for such shortfall; and (d) any obligation of the Company not discharged by such payment
shall be due as a separate and independent obligation and, until discharged as provided herein, shall continue in full force and
effect.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_020"></A>Section
3.13 <U>CUSIP Numbers.</U> The Company in issuing any Securities may use CUSIP, ISIN or other similar numbers, if then generally
in use, and thereafter with respect to such series, the Trustee may use such numbers in any notice (including any notice of redemption
or exchange) with respect to such series 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 and that reliance may be placed only on the
other identification numbers printed on the Securities, and any such notice, redemption or exchange shall not be affected by any
defect in or omission of such numbers. The Company will notify the Trustee of any change in the CUSIP, ISIN or other similar numbers.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 26; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><A NAME="e25030a_021"></A>Article
IV</FONT><FONT STYLE="font-size: 10pt"><BR>
<U>REDEMPTION OF SECURITIES</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_022"></A>Section
4.01 <U>Applicability of Right of Redemption</U>. Redemption of Securities (other than pursuant to a sinking fund, amortization
or analogous provision) permitted by the terms of any series of Securities shall be made (except as otherwise specified pursuant
to Section 3.01 for Securities of any series) in accordance with this Article; provided, however, that if any such terms of a
series of Securities shall conflict with any provision of this Article, the terms of such series shall govern.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_023"></A>Section
4.02 <U>Selection of Securities to be Redeemed</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) If the
Company shall at any time elect to redeem all or any portion of the Securities of a series then Outstanding, it shall at least
five days prior to the date the notice of redemption is sent to the Holders (unless a shorter period shall be satisfactory to
the Trustee) notify the Trustee of such Redemption Date and of the principal amount of Securities to be redeemed, and, if less
than all of the Securities of such series are to be redeemed, thereupon the particular Securities of such series to be redeemed
shall be selected from the Outstanding Securities of such series not theretofore called for redemption by lot, subject to the
Applicable Procedures, and which may provide for the selection for redemption of a portion of the principal amount of any Security
of such series; provided that the unredeemed portion of the principal amount of any Security shall be in an authorized denomination
(which shall not be less than the minimum authorized denomination) for such Security. In any case where more than one Security
of such series is registered in the same name, the Trustee may treat the aggregate principal amount so registered as if it were
represented by one Security of such series. The Trustee shall, as soon as practicable, notify the Company in writing of the Securities
and portions of Securities so selected.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) For
all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities
shall relate, in the case of any Security redeemed or to be redeemed only in part, to the portion of the principal amount of such
Security that has been or is to be redeemed. If the Company shall so direct, Securities registered in the name of the Company
or any Affiliate or any Subsidiary thereof shall not be included in the Securities selected for redemption.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_024"></A>Section
4.03 <U>Notice of Redemption</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) Notice
of redemption shall be given by the Company or, at the Company&rsquo;s request, by the Trustee in the name and at the expense
of the Company, not less than 10 nor more than 60 days prior to the Redemption Date (unless a shorter period shall be satisfactory
to the Trustee), to the Holders of Securities of any series to be redeemed in whole or in part pursuant to this Article, in the
manner provided in Section 15.04. Any notice so given shall be conclusively presumed to have been duly given, whether or not the
Holder receives such notice. Failure to give such notice, or any defect in such notice to the Holder of any Security of a series
designated for redemption, in whole or in part, shall not affect the sufficiency of any notice of redemption with respect to the
Holder of any other Security of such series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) All
notices of redemption shall identify the Securities to be redeemed (including CUSIP, ISIN or other similar numbers, if available)
and shall state:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(i) such
election by the Company to redeem Securities of such series pursuant to provisions contained in this Indenture or the terms of
the Securities of such series or a supplemental indenture establishing such series, if such be the case;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 27; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(ii) the
Redemption Date;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(iii) the
Redemption Price or, if the Redemption Price is not then known, the manner of calculation thereof;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(iv) if
less than all Outstanding Securities of any series are to be redeemed, the identification (and, in the case of partial redemption,
the principal amounts) of the Securities of such series to be redeemed;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(v) that
on the Redemption Date the Redemption Price will become due and payable upon each such Security to be redeemed, and that, if applicable,
interest thereon shall cease to accrue on and after said date;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(vi) the
Place or Places of Payment where such Securities are to be surrendered for payment of the Redemption Price;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(vii) that
the redemption is for a sinking fund, if such is the case; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(viii) that
no representation is made as to the correctness or accuracy of the CUSIP, ISIN or other similar numbers, if any, listed in such
notice or printed on the Securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) If the
Redemption Price is not known at the time such notice is to be given, the actual Redemption Price, calculated as described in
the terms of the Securities, will be set forth in a Company Order delivered to the Trustee no later than two Business Days prior
to the Redemption Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_025"></A>Section
4.04 <U>Deposit of Redemption Price</U>. On or prior to 11:00 a.m., New York City time, on the Redemption Date for any Securities,
the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate
and hold in trust as provided in Section 6.03) an amount of money in the Currency in which such Securities are denominated (except
as provided pursuant to Section 3.01) sufficient to pay the Redemption Price of such Securities or any portions thereof that are
to be redeemed on that date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_026"></A>Section
4.05 <U>Securities Payable on Redemption Date</U>. Notice of redemption having been given as aforesaid, any Securities so to be
redeemed shall, on the Redemption Date, become due and payable at the Redemption Price and from and after such date (unless the
Company shall Default in the payment of the Redemption Price) such Securities shall cease to bear interest. Upon surrender of
any such Security for redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption
Price; provided, however, that (unless otherwise provided pursuant to Section 3.01) installments of interest that have a Stated
Maturity on or prior to the Redemption Date for such Securities shall be payable according to the terms of such Securities and
the provisions of Section 3.08.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">If any Security called for
redemption shall not be so paid upon surrender thereof for redemption, the principal thereof and premium, if any, thereon shall,
until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_027"></A>Section
4.06 <U>Securities Redeemed in Part</U>. Any Security that is to be redeemed only in part shall be surrendered at the Corporate
Trust Office or such other office or agency of the Company as is specified pursuant to Section 3.01 with, if the Company, the
Registrar or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company,
the Registrar and the Trustee duly executed by the Holder thereof or his, her or its attorney duly authorized in writing, and
the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such Security without service charge,
a new Security or Securities of the same series, of like tenor and form, of any authorized denomination as requested by such Holder
in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered&#894;
except that if a Global Security is so redeemed, the balance of such Global Security shall be reduced in accordance with the Applicable
Procedures. In the case of a Security providing appropriate space for such notation, at the option of the Holder thereof, the
Trustee, in lieu of delivering a new Security or Securities as aforesaid, may make a notation on such Security of the payment
of the redeemed portion thereof.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"></FONT></P>

<!-- Field: Page; Sequence: 28; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><A NAME="e25030a_028"></A>Article
V</FONT><FONT STYLE="font-size: 10pt"><BR>
<U>SINKING FUNDS</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_029"></A>Section
5.01 <U>Applicability of Sinking Fund</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) Redemption
of Securities permitted or required pursuant to a sinking fund for the retirement of Securities of a series by the terms of such
series of Securities shall be made in accordance with such terms of such series of Securities and this Article, except as otherwise
specified pursuant to Section 3.01 for Securities of such series, provided, however, that if any such terms of a series of Securities
shall conflict with any provision of this Article, the terms of such series shall govern.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) The
minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a &ldquo;Mandatory
Sinking Fund Payment,&rdquo; 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 &ldquo;Optional Sinking Fund Payment.&rdquo; If provided for by the terms of Securities of any series,
the cash amount of any Mandatory Sinking Fund Payment may be subject to reduction as provided in Section 5.02.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_030"></A>Section
5.02 <U>Mandatory Sinking Fund Obligation</U>. The Company may, at its option, satisfy any Mandatory Sinking Fund Payment obligation,
in whole or in part, with respect to a particular series of Securities by (a) delivering to the Trustee Securities of such series
in transferable form theretofore purchased or otherwise acquired by the Company or redeemed at the election of the Company pursuant
to Section 4.03 or (b) receiving credit for Securities of such series (not previously so credited) acquired by the Company and
theretofore delivered to the Trustee. The Trustee shall credit such Mandatory Sinking Fund Payment obligation with an amount equal
to the Redemption Price specified in such Securities for redemption through operation of the sinking fund and the amount of such
Mandatory Sinking Fund Payment shall be reduced accordingly. If the Company shall elect to so satisfy any Mandatory Sinking Fund
Payment obligation, it shall deliver to the Trustee not less than five days prior to the date the notice is sent to the Holders
an Officer&rsquo;s Certificate, which shall designate the Securities (and portions thereof, if any) so delivered or credited and
which shall be accompanied by such Securities (to the extent not theretofore delivered) in transferable form. In case of the failure
of the Company, at or before the time so required, to give such notice and deliver such Securities the Mandatory Sinking Fund
Payment obligation shall be paid entirely in moneys.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_031"></A>Section
5.03 <U>Optional Redemption at Sinking Fund Redemption Price</U>. In addition to the sinking fund requirements of Section 5.02,
to the extent, if any, provided for by the terms of a particular series of Securities, the Company may, at its option, make an
Optional Sinking Fund Payment with respect to such Securities. Unless otherwise provided by such terms, (a) to the extent that
the right of the Company to make such Optional Sinking Fund Payment shall not be exercised in any year, it shall not be cumulative
or carried forward to any subsequent year, and (b) such optional payment shall operate to reduce the amount of any Mandatory Sinking
Fund Payment obligation as to Securities of the same series. If the Company intends to exercise its right to make such optional
payment in any year it shall deliver to the Trustee not less than five days (or such shorter period as shall be satisfactory to
the Trustee) prior to the date the notice is sent to the Holders an Officer&rsquo;s Certificate stating that the Company will
exercise such optional right, and specifying the amount which the Company will pay on or before the next succeeding sinking fund
payment date. Such Officer&rsquo;s Certificate shall also state that no Event of Default has occurred and is continuing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 29; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_032"></A>Section
5.04 <U>Application of Sinking Fund Payment</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) If the
sinking fund payment or payments made in funds pursuant to either Section 5.02 or 5.03 with respect to a particular series of
Securities plus any unused balance of any preceding sinking fund payments made in funds with respect to such series shall exceed
$50,000 (or a lesser sum if the Company shall so request, or such equivalent sum for Securities denominated other than in U.S.
Dollars), it shall be applied by the Trustee on the sinking fund payment date next following the date of such payment, unless
the date of such payment shall be a sinking fund payment date, in which case such payment shall be applied on such sinking fund
payment date, to the redemption of Securities of such series at the redemption price specified pursuant to Section 4.03(b). The
Trustee shall select, in the manner provided in Section 4.02, for redemption on such sinking fund payment date, a sufficient principal
amount of Securities of such series to absorb said funds, as nearly as may be, and shall, at the expense and in the name of the
Company, thereupon cause notice of redemption of the Securities to be given in substantially the manner provided in Section 4.03(a)
for the redemption of Securities in part at the option of the Company, except that the notice of redemption shall also state that
the Securities are being redeemed for the sinking fund. Any sinking fund moneys not so applied by the Trustee to the redemption
of Securities of such series shall be added to the next sinking fund payment received in funds by the Trustee and, together with
such payment, shall be applied in accordance with the provisions of this Section 5.04. Any and all sinking fund moneys held by
the Trustee on the last sinking fund payment date with respect to Securities of such series, and not held for the payment or redemption
of particular Securities of such series, shall be applied by the Trustee to the payment of the principal of the Securities of
such series at Maturity.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) On or
prior to each sinking fund payment date, the Company shall pay to the Trustee a sum equal to all interest accrued to but not including
the date fixed for redemption on Securities to be redeemed on such sinking fund payment date pursuant to this Section 5.04.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) The
Trustee shall not redeem any Securities of a series with sinking fund moneys or give any notice of redemption of Securities of
such series by operation of the sinking fund during the continuance of a Default in payment of interest on any Securities of such
series or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) of which a Responsible
Officer of the Trustee has received written notice thereof, except that if the notice of redemption of any Securities of such
series shall theretofore have been given in accordance with the provisions hereof, the Trustee shall redeem such Securities if
funds sufficient for that purpose shall be deposited with the Trustee in accordance with the terms of this Article. Except as
aforesaid, any moneys in the sinking fund at the time any such Default or Event of Default shall occur and any moneys thereafter
paid into the sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment
of all the Securities of such series&#894; provided, however, that in case such Default or Event of Default shall have been cured
or waived as provided herein, such moneys shall thereafter be applied on the next sinking fund payment date on which such moneys
are required to be applied pursuant to the provisions of this Section 5.04.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 30; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><A NAME="e25030a_033"></A>Article
VI</FONT><FONT STYLE="font-size: 10pt"><BR>
<U>PARTICULAR COVENANTS OF THE COMPANY</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">The Company hereby covenants
and agrees as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_034"></A>Section
6.01 <U>Payments of Securities</U>. The Company will duly and punctually pay the principal of and premium, if any, on each series
of Securities, and the interest which shall have accrued thereon, at the dates and place and in the manner provided in the Securities
and in this Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_035"></A>Section
6.02 <U>Paying Agent</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) The
Company will maintain in each Place of Payment for any series of Securities, if any, an office or agency where Securities may
be presented or surrendered for payment, where Securities of such series may be surrendered for registration of transfer or exchange
and where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served (the &ldquo;Paying
Agent&rdquo;). The Company will give prompt written notice to the Trustee of the location, and any change in the location, of
such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish
the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate
Trust Office of the Trustee, and the Company hereby appoints the Trustee as Paying Agent to receive all presentations, surrenders,
notices and demands.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) The
Company may also from time to time designate different or additional offices or agencies where the Securities of any series may
be presented or surrendered for any or all such purposes (in or outside of such Place of Payment), and may from time to time rescind
any such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its
obligations described in the preceding paragraph. The Company will give prompt written notice to the Trustee of any such additional
designation or rescission of designation and of any change in the location of any such different or additional office or agency.
The Company shall enter into an appropriate agency agreement with any Paying Agent not a party to this Indenture. The agreement
shall implement the provisions of this Indenture that relate to such Agent. The Company shall notify the Trustee of the name and
address of each such Agent. The Company or any Affiliate thereof may act as Paying Agent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_036"></A>Section
6.03 <U>To Hold Payment in Trust</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) If the
Company or an Affiliate thereof shall at any time act as Paying Agent with respect to any series of Securities, then, on or before
the date on which the principal of and premium, if any, or interest on any of the Securities of that series by their terms or
as a result of the calling thereof for redemption shall become payable, the Company or such Affiliate will segregate and hold
in trust for the benefit of the Holders of such Securities or the Trustee a sum sufficient to pay such principal and premium,
if any, or interest which shall have so become payable until such sums shall be paid to such Holders or otherwise disposed of
as herein provided, and will notify the Trustee of its action or failure to act in that regard.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">Upon any proceeding under
any federal bankruptcy laws with respect to the Company or any Affiliate thereof, if the Company or such Affiliate is then acting
as Paying Agent, the Trustee shall replace the Company or such Affiliate as Paying Agent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) If the
Company shall appoint, and at the time have, a Paying Agent for the payment of the principal of and premium, if any, or interest
on any series of Securities, then prior to 11:00 a.m., New York City time, on the date on which the principal of and premium,
if any, or interest on any of the Securities of that series shall become payable as aforesaid, whether by their terms or as a
result of the calling thereof for redemption, the Company will deposit with such Paying Agent a sum sufficient to pay such principal
and premium, if any, or interest, such sum to be held in trust for the benefit of the Holders of such Securities or the Trustee,
and (unless such Paying Agent is the Trustee), the Company or any other obligor of such Securities will promptly notify the Trustee
of its payment or failure to make such payment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 31; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) If the
Paying Agent shall be other than the Trustee, the Company will cause such Paying Agent to execute and deliver to the Trustee an
instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section 6.03, that such
Paying Agent shall:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(i) hold
all moneys held by it for the payment of the principal of and premium, if any, or interest on the Securities of that series in
trust for the benefit of the Holders of such Securities until such sums shall be paid to such Holders or otherwise disposed of
as herein provided;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(ii) give
to the Trustee notice of any Default by the Company or any other obligor upon the Securities of that series in the making of any
payment of the principal of and premium, if any, or interest on the Securities of that series; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(iii) at
any time during the continuance of any such Default, upon the written request of the Trustee, pay to the Trustee all sums so held
in trust by such Paying Agent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(d) Anything
in this Section 6.03 to the contrary notwithstanding, the Company may at any time, for the purpose of obtaining a release, satisfaction
or discharge of this Indenture or for any other reason, pay or cause to be paid to the Trustee all sums held in trust by the Company
or by any Paying Agent other than the Trustee as required by this Section 6.03, such sums to be held by the Trustee upon the same
trusts as those upon which such sums were held by the Company or such Paying Agent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(e) Any
money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of
and premium, if any, or interest on any Security of any series and remaining unclaimed for two years after such principal and
premium, if any, or interest has become due and payable shall be paid to the Company upon Company Order along with any interest
that has accumulated thereon as a result of such money being invested at the direction of the Company, or (if then held by the
Company) shall be discharged from such trust, and the Holder of such Security shall thereafter, as an unsecured general creditor,
look only to the Company for payment of such amounts without interest thereon, and all liability of the Trustee or such Paying
Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided,
however, that the Trustee or such Paying Agent before being required to make any such repayment, may at the expense of the Company
cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of
general circulation in The City of New York, notice that such money remains unclaimed and that, after a date specified therein,
which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will
be repaid to the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_037"></A>Section
6.04 <U>Merger, Consolidation and Sale of Assets</U>. Except as otherwise provided as contemplated by Section 3.01 with respect
to any series of Securities:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) The
Company will not directly or indirectly, in a single transaction or series of related transactions, consolidate with or merge
into any other Person or sell, convey, transfer or lease all or substantially all its assets to any other Person, unless (i) the
Company shall be the surviving Person or the Person (if other than the Company) formed by such consolidation or into which the
Company is merged (or, alternatively, if such Person is the wholly owned subsidiary of another Person, such other Person) or to
which such sale, conveyance, transfer or lease is made shall be organized and existing under the laws of the United States of
America, any state thereof or the District of Columbia and any such Person expressly assumes, by indenture supplemental hereto,
executed and delivered by such Person prior to or simultaneously with such consolidation, merger, sale, conveyance, transfer or
lease, the due and punctual payment of the principal of and interest and premium, if any, on all the Securities, according to
their tenor, and the due and punctual performance and observance of all other obligations to the Holders and the Trustee under
this Indenture or under the Securities to be performed or observed by the Company; and (ii) immediately after giving effect to
such consolidation, merger, sale, conveyance, transfer or lease, no Default shall have occurred and be continuing. Clause (ii)
of the immediately preceding sentence shall not apply to (A) any sale, conveyance, transfer or lease between or among the Company
and one or more Subsidiaries of the Company, (B) any merger of the Company into any Subsidiary of the Company or (C) any merger
of the Company into an Affiliate of the Company for the purpose of the Company reincorporating or reorganizing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 32; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) Upon
any consolidation of the Company with or merger of the Company into any other Person, or any sale, conveyance, transfer or lease
of all or substantially all of the assets of the Company to any other Person, in accordance with this Section 6.04, the Person
formed by such consolidation or into which the Company is merged or to which such sale, conveyance, transfer or lease is made
shall succeed to (or, if applicable, if such Person is the wholly owned Subsidiary of another Person, and such other Person elects
to succeed to), and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same
effect as if such successor Person had been named as the Company herein, and thereafter, except in the case of a lease, the predecessor
Company shall be relieved of and discharged from all obligations and covenants under this Indenture and the Securities, and from
time to time such Person may exercise each and every right and power of the Company under this Indenture, in the name of the Company,
or in its own name; and any act or proceeding by any provision of this Indenture required or permitted to be done by the Board
of Directors or any officer of the Company may be done with like force and effect by the like board or officer of any Person that
shall at the time be the successor of the Company hereunder. In the event of any such sale, conveyance or transfer, but not any
such lease, the Company (or any successor entity which shall theretofore have become such in the manner described in this Section
6.04) shall be relieved of and discharged from all obligations and covenants under this Indenture and the Securities and may thereupon
be dissolved and liquidated.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_038"></A>Section
6.05 <U>Compliance Certificate</U>. Except as otherwise provided as contemplated by Section 3.01 with respect to any series of
Securities, the Company shall furnish to the Trustee annually, within 120 days after the end of each fiscal year, a brief certificate
from the principal executive officer, principal financial officer, principal accounting officer, treasurer or secretary as to
his or her knowledge of the Company&rsquo;s compliance with all conditions and covenants under this Indenture (which compliance
shall be determined without regard to any period of grace or requirement of notice provided under this Indenture) and, in the
event of any Default, specifying each such Default and the nature and status thereof of which such Person may have knowledge.
Such certificates need not comply with Section 15.01 of this Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_039"></A>Section
6.06 <U>Conditional Waiver by Holders of Securities</U>. Anything in this Indenture to the contrary notwithstanding, the Company
may fail or omit in any particular instance to comply with a covenant or condition set forth herein with respect to any series
of Securities if the Company shall have obtained and filed with the Trustee, prior to the time of such failure or omission, evidence
(as provided in Article VIII) of the consent of the Holders of a majority in aggregate principal amount of the Securities of such
series at the time Outstanding, either waiving such compliance in such instance or generally waiving compliance with such covenant
or condition, but no such waiver shall extend to or affect such covenant or condition except to the extent so expressly waived,
or impair any right consequent thereon and, until such waiver shall have become effective, the obligations of the Company and
the duties of the Trustee in respect of any such covenant or condition shall remain in full force and effect.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_040"></A>Section
6.07 <U>Statement by Officers as to Default</U>. The Company shall deliver to the Trustee within 30 days after the Company becomes
aware of the occurrence of any event which, with the giving of notice or the lapse of time or both, would constitute an Event
of Default under Section 7.01, an Officer&rsquo;s Certificate setting forth the details of such Event of Default or Default and
the action which the Company proposes to take with respect thereto.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"></FONT></P>

<!-- Field: Page; Sequence: 33; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><A NAME="e25030a_041"></A>Article
VII</FONT><FONT STYLE="font-size: 10pt"><BR>
<U>REMEDIES OF TRUSTEE AND SECURITYHOLDERS</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_042"></A>Section
7.01 <U>Events of Default</U>. Except where otherwise indicated by the context or where the term is otherwise defined for a specific
purpose, the term &ldquo;Event of Default&rdquo; as used in this Indenture with respect to Securities of any series shall mean
one of the following described events unless it is either inapplicable to a particular series or it is specifically deleted or
modified in the manner contemplated in Section 3.01:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) the
failure of the Company to pay any installment of interest on any Security of such series when and as the same shall become payable,
which failure shall have continued unremedied for a period of 30 days;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) the
failure of the Company to pay the principal of (and premium, if any, on) any Security of such series, when and as the same shall
become payable, whether at Maturity as therein expressed, by call for redemption (otherwise than pursuant to a sinking fund),
by declaration as authorized by this Indenture or otherwise;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) the
failure of the Company to pay a sinking fund installment, if any, when and as the same shall become payable by the terms of a
Security of such series, which failure shall have continued unremedied for a period of 30 days;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(d) the
failure of the Company, subject to the provisions of Section 6.06, to perform any covenants or agreements contained in this Indenture
(including any Officer&rsquo;s Certificate or indenture supplemental hereto pursuant to which the Securities of such series were
issued as contemplated by Section 3.01) (other than a covenant or agreement which has been expressly included in this Indenture
solely for the benefit of a series of Securities other than that series and other than a covenant or agreement a default in the
performance of which is elsewhere in this Section 7.01 specifically addressed), which failure shall not have been remedied, and
without provision deemed to be adequate for the remedying thereof having been made, for a period of 90 days after written notice
shall have been given to the Company by the Trustee or shall have been given to the Company and the Trustee by Holders of 25%
or more in aggregate principal amount of the Securities of such series then Outstanding, specifying such failure, requiring the
Company to remedy the same and stating that such notice is a &ldquo;Notice of Default&rdquo; hereunder;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(e) the
entry by a court having jurisdiction in the premises of a decree or order for relief in respect of the Company in an involuntary
case under the United States federal bankruptcy laws, as now or hereafter constituted, or any other applicable United States federal
or state bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee,
custodian, trustee or sequestrator (or similar official) of the Company or of substantially all the property of the Company or
ordering the winding-up or liquidation of its affairs, which decree or order shall have remained unstayed and in effect for a
period of 90 consecutive days;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(f) the
commencement by the Company of a voluntary case under the United States federal bankruptcy laws, as now or hereafter constituted,
or any other applicable United States federal or state bankruptcy, insolvency or other similar law now or hereafter in effect,
or the consent by the Company to the entry of an order for relief in an involuntary case under any such law, or the consent by
the Company to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian or sequestrator
(or similar official) of the Company or of substantially all the property of the Company or the making by it of an assignment
for the benefit of creditors or the admission by it in writing of its inability to pay its debts generally as they become due,
or the taking of corporate action by the Company in furtherance of any such action; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 34; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(g) the
occurrence of any other Event of Default with respect to Securities of such series as provided in Section 3.01; provided, however,
that no event described in clause (d) or (other than with respect to a payment default) (e) above shall constitute an Event of
Default hereunder until a written notice of any such event is received by a Responsible Officer of the Trustee at the Corporate
Trust Office, and such notice refers to the facts underlying such event, the Securities generally, the Company and this Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(h) Notwithstanding
the foregoing provisions of this Section 7.01, if the principal or any premium or interest on any Security is payable in a Foreign
Currency and such Foreign Currency is not available to the Company for making payment thereof due to the imposition of exchange
controls or other circumstances beyond the control of the Company, the Company will be entitled to satisfy its obligations to
Holders of the Securities by making such payment in U.S. Dollars in an amount equal to the equivalent in U.S. Dollars of the amount
payable in such Foreign Currency, as determined by the Company&rsquo;s agent in accordance with Section 3.11(c) hereof by reference
to the noon buying rate in The City of New York for cable transfers for such Foreign Currency (&ldquo;Exchange Rate&rdquo;), as
such Exchange Rate is reported or otherwise made available by the Federal Reserve Bank of New York on the date of such payment,
or, if such rate is not then available, on the basis of the most recently available Exchange Rate. Notwithstanding the foregoing
provisions of this Section 7.01, any payment made under such circumstances in U.S. Dollars where the required payment is in a
Foreign Currency will not constitute an Event of Default under this Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_043"></A>Section
7.02 <U>Acceleration; Rescission and Annulment</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) Except
as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, if any one or more of the above-described
Events of Default (other than an Event of Default specified in Section 7.01(e) or 7.01(f)) shall happen with respect to Securities
of any series at the time Outstanding, then, and in each and every such case, during the continuance of any such Event of Default,
the Trustee or the Holders of 25% or more in principal amount of the Securities of such series then Outstanding may declare the
principal (or, if the Securities of that series are Original Issue Discount Securities, such portion of the principal amount as
may be specified in the terms of that series) of and all accrued but unpaid interest on all the Securities of such series then
Outstanding to be due and payable immediately by a notice in writing to the Company (and to the Trustee if given by Holders),
and upon any such declaration such principal amount (or specified amount) and accrued but unpaid interest shall become immediately
due and payable. If an Event of Default specified in Section 7.01(e) or 7.01(f) occurs and is continuing, then, in every such
case, the principal amount (or, if the Securities of that series are Original Issue Discount Securities, such portion of the principal
amount as may be specified in the terms of that series) of and all accrued but unpaid interest on all of the Securities of that
series then Outstanding shall automatically, and without any declaration or any other action on the part of the Trustee or any
Holder, become due and payable immediately. Upon payment of such amounts in the Currency in which such Securities are denominated
(subject to Section 7.01 and except as otherwise provided pursuant to Section 3.01), all obligations of the Company in respect
of the payment of principal of and interest on the Securities of such series shall terminate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) The
provisions of Section 7.02(a) are subject to the condition that, at any time after the principal of all the Securities of such
series, to which any one or more of the above-described Events of Default is applicable, shall have been so declared to be due
and payable, and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter provided
in this Article, the Event of Default giving rise to such declaration of acceleration shall, without further act, be deemed to
have been waived, and such declaration and its consequences shall, without further act, be deemed to have been rescinded and annulled,
if:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 35; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(i) the
Company has paid or deposited with the Trustee or Paying Agent a sum in the Currency in which such Securities are denominated
(subject to Section 7.01 and except as otherwise provided pursuant to Section 3.01) sufficient to pay:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(A) all
amounts owing the Trustee and any predecessor trustee hereunder under Section 10.01(a) (provided, however, that all sums payable
under this clause (A) shall be paid in U.S. Dollars);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(B) all
arrears of interest, if any, upon all the Securities of such series (with interest, to the extent that interest thereon shall
be legally enforceable, on any overdue installment of interest at the rate borne by such Securities at the rate or rates prescribed
therefor in such Securities); and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(C) the
principal of and premium, if any, on any Securities of such series that have become due otherwise than by such declaration of
acceleration and interest thereon&#894; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(ii) every
other Default and Event of Default with respect to Securities of that series, other than the non-payment of the principal of Securities
of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section
7.06.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) No such
rescission shall affect any subsequent Default or impair any right consequent thereon.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(d) For
all purposes under this Indenture, if a portion of the principal of any Original Issue Discount Securities shall have been accelerated
and declared due and payable pursuant to the provisions hereof, then, from and after such declaration, unless such declaration
has been rescinded and annulled, the principal amount of such Original Issue Discount Securities shall be deemed, for all purposes
hereunder, to be such portion of the principal thereof as shall be due and payable as a result of such acceleration, and payment
of such portion of the principal thereof as shall be due and payable as a result of such acceleration, together with interest,
if any, thereon and all other amounts owing thereunder, shall constitute payment in full of such Original Issue Discount Securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_044"></A>Section
7.03 <U>Other Remedies</U>. If the Company shall fail for a period of 90 days to pay any installment of interest on the Securities
of any series or shall fail to pay the principal of and premium, if any, on any of the Securities of such series when and as the
same shall become due and payable, whether at Maturity, or by call for redemption (other than pursuant to the sinking fund), by
declaration as authorized by this Indenture, or otherwise, or shall fail for a period of 90 days to make any required sinking
fund payment as to a series of Securities, then, except as otherwise provided as contemplated by Section 3.01 with respect to
Securities of such series, upon demand of the Trustee, the Company will pay to the Paying Agent for the benefit of the Holders
of Securities of such series then Outstanding the whole amount which then shall have become due and payable on all the Securities
of such series, with interest on the overdue principal and premium, if any, and (so far as the same may be legally enforceable)
on the overdue installments of interest at the rate borne by the Securities of such series, and all amounts owing the Trustee
and any predecessor trustee hereunder under Section 10.01(a).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt">In case the Company shall
fail forthwith to pay such amounts 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 proceeding 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 any other obligor upon the Securities of such series, and collect the moneys adjudged or decreed to be
payable out of the property of the Company or any other obligor upon the Securities of such series, wherever situated, in the
manner provided by law. Every recovery in any such action or other proceeding, subject to the payment to the Trustee of all amounts
owing the Trustee and any predecessor trustee hereunder under Section 10.01(a), shall be for the ratable benefit of the Holders
of such series of Securities which shall be the subject of such action or proceeding. All rights of action upon or under any of
the Securities or this Indenture may be enforced by the Trustee without the possession of any of the Securities and without the
production of any thereof at any trial or any proceeding relative thereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 36; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_045"></A>Section
7.04 <U>Trustee as Attorney-in-Fact</U>. The Trustee is hereby appointed, and each and every Holder of the Securities, by receiving
and holding the same, shall be conclusively deemed to have appointed the Trustee, the true and lawful attorney-in-fact of such
Holder, with authority to make or file (whether or not the Company shall be in Default in respect of the payment of the principal
of, or interest on, any of the Securities), in its own name and as trustee of an express trust or otherwise as it shall deem advisable,
in any receivership, insolvency, liquidation, bankruptcy, reorganization or other judicial proceeding relative to the Company
or any other obligor upon the Securities or to their respective creditors or property, any and all claims, proofs of claim, proofs
of debt, petitions, consents, other papers and documents and amendments of any thereof, as may be necessary or advisable in order
to have the claims of the Trustee and any predecessor trustee hereunder and of the Holders of the Securities allowed in any such
proceeding and to collect and receive any moneys or other property payable or deliverable on any such claim, and to execute and
deliver any and all other papers and documents and to do and perform any and all other acts and things, as it may deem necessary
or advisable in order to enforce in any such proceeding any of the claims of the Trustee and any predecessor trustee hereunder
and of any of such Holders in respect of any of the Securities; and any receiver, assignee, trustee, custodian or debtor in any
such proceeding is hereby authorized, and each and every taker or Holder of the Securities, by receiving and holding the same,
shall be conclusively deemed to have authorized any such receiver, assignee, trustee, custodian or debtor, to make any such payment
or delivery only to or on the order of the Trustee, and to pay to the Trustee any amount due it and any predecessor trustee hereunder
under Section 10.01(a); provided, however, that nothing herein contained shall be deemed to authorize or empower the Trustee to
consent to or accept or adopt, on behalf of any Holder of Securities, any plan of reorganization or readjustment affecting the
Securities or the rights of any Holder thereof, or to authorize or empower the Trustee to vote in respect of the claim of any
Holder of any Securities in any such proceeding; provided further that the Trustee may, on behalf of the Holders, vote for the
election of a trustee in bankruptcy or similar official and be a member of a creditors&rsquo; or other similar committee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_046"></A>Section
7.05 <U>Priorities</U>. Any moneys or properties collected by the Trustee with respect to a series of Securities under this Article
VII shall be applied in the following order, at the date or dates fixed by the Trustee for the distribution of such moneys or
properties and, in the case of the distribution of such moneys or properties on account of the Securities of any series, upon
presentation of the Securities of such series, and stamping thereon the payment, if only partially paid, and upon surrender thereof,
if fully paid:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">First: To the payment of all
amounts due to the Trustee and any predecessor trustee and their respective agents and attorneys hereunder under Section 10.01(a).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt">Second: Subject to Article
XIV, to the payment of the amounts then due and unpaid for principal of and any premium and interest on the Outstanding Securities
in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any
kind, according to the amounts due and payable on such Outstanding Securities for principal and any premium and interest, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 37; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">Any surplus then remaining
shall be paid to the Company or as directed by a court of competent jurisdiction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_047"></A>Section
7.06 <U>Control by Securityholders; Waiver of Past Defaults</U>. The Holders of a majority in principal amount of the Securities
of any series at the time Outstanding may direct the time, method and place of conducting any proceeding for any remedy available
to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities
of such series, provided, however, that, subject to the provisions of Sections 10.01 and 11.02, the Trustee shall have the right
to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed is in conflict
with this Indenture or may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would
involve the Trustee in personal liability, provided further that the Trustee may take any other action deemed proper by the Trustee
which is not inconsistent with such direction. The Holders of a majority in principal amount of the Securities of any series at
the time Outstanding may on behalf of the Holders of all of the Securities of such series waive any past Default or Event of Default
hereunder and its consequences except a Default in the payment of interest or any premium on or the principal of the Securities
of such series. Upon any such waiver 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 Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been
waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes of the Securities of such series
and this Indenture be deemed to have been cured and to be not continuing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_048"></A>Section
7.07 <U>Limitation on Suits</U>. No Holder of any Security of any series shall have any right to institute any action, suit or
proceeding at law or in equity for the execution of any trust hereunder or for the appointment of a receiver or for any other
remedy hereunder, in each case with respect to an Event of Default with respect to such series of Securities, unless (a) such
Holder previously shall have given to the Trustee written notice of one or more of the Events of Default herein specified with
respect to such series of Securities, (b) the Holders of not less than 25% in principal amount of the Securities of such series
then Outstanding shall have requested the Trustee in writing to take action in respect of the matter complained of, (c) such Holder
or Holders shall have offered to the Trustee security and indemnity satisfactory to it against the costs, expenses and liabilities
to be incurred therein or thereby, (d) the Trustee, for 60 days after receipt of such notification, request and offer of indemnity,
shall have neglected or refused to institute any such action, suit or proceeding and (e) no direction inconsistent with such written
request shall have been given to the Trustee during such 60 day period by the Holders of a majority in principal amount of the
Securities of such series then Outstanding; and such notification, request and offer of indemnity are hereby declared in every
such case to be conditions precedent to any such action, suit or proceeding by any Holder of any Security of such series; it being
understood and intended that no one or more of the Holders of Securities of such series shall have any right in any manner whatsoever
by his, her, its or their action to enforce any right hereunder, except in the manner herein provided, and that every action,
suit or proceeding at law or in equity shall be instituted, had and maintained in the manner herein provided and for the equal
benefit of all Holders of the Outstanding Securities of such series; provided, however, that nothing in this Indenture or in the
Securities of such series shall affect or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal of, premium, if any, and interest on the Securities of such series to the respective Holders of such Securities at the
respective due dates in such Securities stated, or affect or impair the right, which is also absolute and unconditional, of such
Holders to institute suit to enforce the payment thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 38; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_049"></A>Section
7.08 <U>Undertaking for Costs</U>. All parties to this Indenture and each Holder of any Security, by such Holder&rsquo;s acceptance
thereof, shall be deemed to have agreed that any court may in its discretion require, in any action, suit or proceeding for the
enforcement of any right or remedy under this Indenture, or in any action, suit or proceeding against the Trustee for any action
taken or omitted by it as Trustee, the filing by any party litigant in such action, suit or proceeding of an undertaking to pay
the costs of such action, suit or proceeding, and that such court may in its discretion assess reasonable costs, including reasonable
attorneys&rsquo; fees and expenses, against any party litigant in such action, suit or proceeding, having due regard to the merits
and good faith of the claims or defenses made by such party litigant; provided, however, that the provisions of this Section 7.08
shall not apply to any action, suit or proceeding instituted by the Trustee or the Company, to any action, suit or proceeding
instituted by any one or more Holders of Securities holding in the aggregate more than 25% in principal amount of the Securities
of any series Outstanding, or to any action, suit or proceeding instituted by any Holder of Securities of any series for the enforcement
of the payment of the principal of or premium, if any, or the interest on, any of the Securities of such series, on or after the
respective due dates expressed in such Securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_050"></A>Section
7.09 <U>Remedies Cumulative</U>. No remedy herein conferred upon or reserved to the Trustee or to the Holders of Securities of
any series is intended to be exclusive of any other remedy or remedies, and each and every remedy shall be cumulative and shall
be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. No delay
or omission of the Trustee or of any Holder of the Securities of any series to exercise any right or power accruing upon any Default
or Event of Default shall impair any such right or power or shall be construed to be a waiver of any such Default or Event of
Default or an acquiescence therein; and every power and remedy given by this Article VII to the Trustee and to the Holders of
Securities of any series, respectively, may be exercised from time to time and as often as may be deemed expedient by the Trustee
or by the Holders of Securities of such series, as the case may be. In case the Trustee or any Holder of Securities of any series
shall have proceeded to enforce any right under this Indenture and the proceedings for the enforcement thereof shall have been
discontinued or abandoned because of waiver or for any other reason or shall have been adjudicated adversely to the Trustee or
to such Holder of Securities, then and in every such case the Company, the Trustee and the Holders of the Securities of such series
shall severally and respectively be restored to their former positions and rights hereunder, and thereafter all rights, remedies
and powers of the Trustee and the Holders of the Securities of such series shall continue as though no such proceedings had been
taken, except as to any matters so waived or adjudicated.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><A NAME="e25030a_051"></A>Article
VIII</FONT><FONT STYLE="font-size: 10pt"><BR>
<U>CONCERNING THE SECURITYHOLDERS</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_052"></A>Section
8.01 <U>Evidence of Action of Securityholders</U>. Whenever in this Indenture it is provided that the Holders of a specified percentage
or a majority in aggregate principal amount of the Securities or of any series of Securities 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 specified percentage or majority have joined therein may be evidenced
by any instrument or any number of instruments of similar tenor executed by Securityholders in person, by an agent or by a proxy
appointed in writing, including through an electronic system for tabulating consents operated by the Depositary for such series
or otherwise (such action becoming effective, except as herein otherwise expressly provided, when such instruments or evidence
of electronic consents are delivered to the Trustee and, where it is hereby expressly required, to the Company).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 39; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_053"></A>Section
8.02 <U>Proof of Execution or Holding of Securities</U>. Proof of the execution of any instrument by a Securityholder or his,
her or its 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:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) The
fact and date of the execution by any Person of any such instrument may be proved (i) by the certificate of any notary public
or other officer in any jurisdiction who, by the laws thereof, has power to take acknowledgments or proof of deeds to be recorded
within such jurisdiction, that the Person who signed such instrument did acknowledge before such notary public or other officer
the execution thereof, or (ii) by the affidavit of a witness of such execution sworn to before any such notary or other officer.
Where such execution is by a Person acting in other than his or her individual capacity, such certificate or affidavit shall also
constitute sufficient proof of his or her authority.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) The
ownership of Securities of any series shall be proved by the Register of such Securities or by a certificate of the Registrar
for such series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) The
Trustee may require such additional proof of any matter referred to in this Section 8.02 as it shall deem appropriate or necessary,
so long as the requirement is a reasonable one.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(d) If the
Company shall solicit from the Holders of Securities of any series any action, the Company may, at its option fix in advance a
record date for the determination of Holders of Securities entitled to take such action, but the Company shall have no obligation
to do so. Any such record date shall be fixed at the Company&rsquo;s discretion. If such a record date is fixed, such action may
be sought or given before or after the record date, but only the Holders of Securities of record at the close of business on such
record date shall be deemed to be Holders of Securities for the purpose of determining whether Holders of the requisite proportion
of Outstanding Securities of such series have authorized or agreed or consented to such action, and for that purpose the Outstanding
Securities of such series shall be computed as of such record date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_054"></A>Section
8.03 <U>Persons Deemed Owners</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) The
Company, the Trustee and any agent of the Company or the Trustee shall treat the Person in whose name any Security is registered
as the owner of such Security for the purpose of receiving payment of principal of and premium, if any, and (subject to Section
3.08) interest, if any, on, such Security and for all other purposes whatsoever, whether or not such Security be overdue, and
none of the Company, the Trustee or any agent of the Company or the Trustee shall be affected by notice to the contrary. All payments
made to any Holder, or upon his, her or its order, shall be valid, and, to the extent of the sum or sums paid, effectual to satisfy
and discharge the liability for moneys payable upon such Security.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) None
of the Company, the Trustee, any Paying Agent or the Registrar will have any responsibility or liability for any aspect of the
records relating to or payments made on account of beneficial ownership interests in a Global Security or for maintaining, supervising
or reviewing any records relating to such beneficial ownership interests.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_055"></A>Section
8.04 <U>Effect of Consents</U>. After an amendment, supplement, waiver or other action becomes effective as to any series of Securities,
a consent to it by a Holder of such series of Securities is a continuing consent conclusive and binding upon such Holder and every
subsequent Holder of the same Securities or portion thereof, and of any Security issued upon the transfer thereof or in exchange
therefor or in place thereof, even if notation of the consent is not made on any such Security. An amendment, supplement or waiver
becomes effective in accordance with its terms and thereafter binds every Holder.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"></FONT></P>

<!-- Field: Page; Sequence: 40; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><A NAME="e25030a_056"></A>Article
IX</FONT><FONT STYLE="font-size: 10pt"><BR>
<U>REPORTS BY THE COMPANY AND THE TRUSTEE AND</U><BR>
<U>SECURITYHOLDERS&rsquo; LISTS</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_057"></A>Section
9.01 <U>Reports by Trustee</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) So long
as any Securities are outstanding, the Trustee shall transmit to Holders such reports concerning the Trustee and its actions under
this Indenture as may be required pursuant to the Trust Indenture Act at the times and in the manner provided therein. If required
by Section 313(a) of the Trust Indenture Act, the Trustee shall, within 60 days after each August 15, beginning in 2021, deliver
to Holders a brief report which complies with the provisions of such Section 313(a). The Trustee shall comply with the provisions
of Section 313(b) of the Trust Indenture Act to the extent applicable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) The
Trustee shall, at the time of the transmission to the Holders of Securities of any report pursuant to the provisions of this Section
9.01, file a copy of such report with each stock exchange upon which the Securities are listed, if any, and also with the SEC
in respect of a Security listed and registered on a national securities exchange, if any. The Company agrees to notify the Trustee
when, as and if the Securities become listed on any stock exchange or any delisting thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) The
Company will reimburse the Trustee for all expenses incurred in the preparation and transmission of any report pursuant to the
provisions of this Section 9.01 and of Section 9.02.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_058"></A>Section
9.02 <U>Reports by the Company</U>. The Company shall file with the Trustee and the SEC, and transmit to Holders, such information,
documents and other reports, and such summaries thereof, as may be required pursuant to the Trust Indenture Act at the times and
in the manner provided in the Trust Indenture Act; provided that, unless available on EDGAR, any such information, documents or
reports required to be filed with the SEC pursuant to Section 13 or 15(d) of the Exchange Act shall be filed with the Trustee
within 30 days after the same is filed with the SEC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">Delivery of such reports,
information and documents to the Trustee is for informational purposes only and the Trustee&rsquo;s receipt of such shall not
constitute actual or constructive notice or knowledge of any information contained therein or determinable from information contained
therein, including the Company&rsquo;s compliance with any of its covenants hereunder (as to which the Trustee is entitled to
rely exclusively on Officer&rsquo;s Certificates).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_059"></A>Section
9.03 <U>Securityholders&rsquo; Lists</U>. The Company covenants and agrees that it will furnish or cause to be furnished to the
Trustee:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) semi-annually,
within 15 days after each Record Date, but in any event not less frequently than semi-annually, a list in such form as the Trustee
may reasonably require of the names and addresses of the Holders of Securities to which such Record Date applies, as of such Record
Date, and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) at such
other times as the Trustee may request in writing, within 30 days after 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;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt">provided, however, that so
long as the Trustee shall be the Registrar, such lists shall not be required to be furnished.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"></FONT></P>

<!-- Field: Page; Sequence: 41; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><A NAME="e25030a_060"></A>Article
X</FONT><FONT STYLE="font-size: 10pt"><BR>
<U>CONCERNING THE TRUSTEE</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_061"></A>Section
10.01 <U>Rights of Trustees; Compensation and Indemnity</U>. The Trustee accepts the trusts created by this Indenture upon the
terms and conditions hereof, including the following, to all of which the parties hereto and the Holders from time to time of
the Securities agree:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) The
Trustee shall be entitled to such compensation as the Company and the Trustee shall from time to time agree in writing for all
services rendered by it hereunder (including in any Agent capacity in which it acts). The compensation of the Trustee shall not
be limited by any provision of law in regard to the compensation of a trustee of an express trust. The Company shall reimburse
the Trustee promptly upon its request for all reasonable out-of-pocket expenses, disbursements and advances incurred or made by
the Trustee (including the reasonable expenses and disbursements of its agents and counsel), except any such expense, disbursement
or advance as may be attributable to its own negligence or willful misconduct.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">The Company also agrees to
indemnify each of the Trustee and its officers, directors, employees and representatives for, and to hold it harmless against,
any and all loss, liability, damage, claim, or expense incurred without its own negligence or willful misconduct, arising out
of or in connection with the acceptance or administration of the trust or trusts hereunder and the performance of its duties (including
in any Agent capacity in which it acts), as well as the costs and expenses of defending itself against any claim or liability
in connection with the exercise or performance of any of its powers or duties hereunder (whether asserted by the Company, any
Holder or any other Person), except those attributable to its negligence or willful misconduct. 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 Company need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">As security for the performance
of the obligations of the Company under this Section 10.01(a), the Trustee shall have a lien upon all property and funds held
or collected by the Trustee as such, except funds held in trust by the Trustee to pay principal of and interest on any Securities.
Notwithstanding any provisions of this Indenture to the contrary, the obligations of the Company to compensate and indemnify the
Trustee under this Section 10.01(a) shall survive the resignation or removal of the Trustee, the termination of this Indenture
and any satisfaction and discharge under Article XII. When the Trustee incurs expenses or renders services after an Event of Default
specified in clause (e) or (f) of Section 7.01 occurs, the expenses and compensation for the services are intended to constitute
expenses of administration under any applicable federal or state bankruptcy, insolvency or similar laws.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) The
Trustee shall not be responsible in any manner whatsoever for the correctness of the recitals herein or in the Securities (except
its certificates of authentication thereon) contained, all of which are made solely by the Company&#894; and the Trustee shall
not be responsible or accountable in any manner whatsoever for or with respect to the validity or execution or sufficiency of
this Indenture or of the Securities (except its certificates of authentication thereon), and the Trustee makes no representation
with respect thereto, except that the Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate
the Securities and perform its obligations hereunder and that the statements made by it in a Statement of Eligibility on Form
T-1 supplied to the Company are true and accurate, subject to the qualifications set forth therein. The Trustee shall not be accountable
for the use or application by the Company of any Securities, or the proceeds of any Securities, authenticated and delivered by
the Trustee in conformity with the provisions of this Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) The
Trustee may consult with counsel of its selection, and the advice of such counsel or any Opinion of Counsel shall be full and
complete authorization and protection in respect of any action taken, suffered or omitted by the Trustee hereunder in good faith
and in accordance with such advice or Opinion of Counsel.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(d) The
Trustee may rely upon the certificate of the Secretary or one of the Assistant Secretaries of the Company as to the adoption of
any Board Resolution or resolution of the stockholders of the Company, and any request, direction, order or demand of the Company
mentioned herein shall be sufficiently evidenced by, and whenever in the administration of this Indenture the Trustee shall deem
it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee may
rely upon, a Company Order or an Officer&rsquo;s Certificate of the Company (unless other evidence in respect thereof be herein
specifically prescribed).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 42; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(e) Subject
to Section 10.04, the Trustee or any agent of the Trustee, in its individual or any other capacity, may become the owner or pledgee
of Securities and, subject to Sections 310(b) and 311 of the Trust Indenture Act, may otherwise deal with the Company with the
same rights it would have had if it were not the Trustee or such agent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(f) Money
held by the Trustee in trust hereunder 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 money received by it hereunder except as otherwise agreed in writing with the
Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(g) Any
action taken by the Trustee pursuant to any provision hereof at the request or with the consent of any Person who at the time
is the Holder of any Security shall be conclusive and binding in respect of such Security upon all future Holders thereof or of
any Security or Securities which may be issued for or in lieu thereof in whole or in part, whether or not such Security shall
have noted thereon the fact that such request or consent had been made or given.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(h) 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, debenture or other paper or document reasonably
believed by it to be genuine and to have been signed or presented by the proper party or parties.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(i) The
Trustee shall not be under any obligation to exercise any of the rights or powers vested in it by this Indenture at the request,
order or direction of any of the Holders of the Securities, pursuant to any provision of this Indenture, unless one or more of
the Holders of the Securities shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses
and liabilities which may be incurred by it therein or thereby.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(j) The
Trustee shall not be liable for any action taken, suffered or omitted by it in good faith and believed by it to be authorized
or within its discretion or within the rights or powers conferred upon it by this Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(k) The
Trustee shall not be deemed to have knowledge or notice of any Default or Event of Default unless a Responsible Officer of the
Trustee has received written notice of such event, which is in fact such a Default or Event of Default, at its Corporate Trust
Office, and such notice references the Securities and this Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(l) The
Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of Indebtedness
or other paper or document, but the Trustee, may, but shall not be required to, make further inquiry or investigation into such
facts or matters as it may see fit.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(m) 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 43; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(n) 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, lost profit), irrespective of whether the Trustee has been advised of the likelihood of such loss
or damage and regardless of the form of action.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(o) The
Trustee may request that the Company deliver a certificate setting forth the names of individuals and/or titles of officers authorized
at such time to take specified actions pursuant to this Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(p) 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, epidemics or pandemics, nuclear or natural catastrophes or
acts of God, and significant interruptions, loss or malfunctions of utilities, communications or computer (software and hardware)
services&#894; 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(q) The
Trustee may execute any of the trusts or powers hereof and perform any duty hereunder either directly or by its agents and attorneys
and shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by
it hereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_062"></A>Section
10.02 <U>Duties of Trustee</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) If one
or more of the Events of Default specified in Section 7.01 with respect to the Securities of any series shall have happened, then,
during the continuance thereof, the Trustee shall, with respect to such Securities, exercise such of the rights and powers vested
in it by this Indenture, and shall use the same degree of care and skill in their exercise, as a prudent person would exercise
or use under the circumstances in the conduct of such person&rsquo;s own affairs.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) Except
during the continuance of an Event of Default,</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(i) the
Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture, and no implied
covenants or obligations shall be read into this Indenture against the Trustee; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(ii) in
the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of
this Indenture; but in the case of any such certificates or opinions which by any provision hereof are specifically required to
be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to
the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts,
statements, opinions or conclusions stated therein).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) None
of the provisions of this Indenture shall be construed as relieving the Trustee from liability for its own negligent action, its
own negligent failure to act, or its own bad faith or willful misconduct, except that, notwithstanding anything in this Indenture
to the contrary,</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(i) this
Subsection shall not be construed to limit the effect of Subsection (b) of this Section;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(ii) the
Trustee shall not be liable to any Holder of Securities 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; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 44; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(iii) the
Trustee shall not be liable to any Holder of Securities or to any other Person with respect to any action taken or omitted to
be taken by it in good faith, in accordance with the direction of Securityholders given as provided in Section 7.06, relating
to the time, method and place of conducting any proceeding for any remedy available to it or exercising any trust or power conferred
upon it by this Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(d) None
of the provisions of this Indenture shall require the Trustee to expend or risk its own funds or otherwise to incur any financial
liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have
reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably
assured to it.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(e) Whether
or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of
or affording protection to the Trustee shall be subject to the provisions of this Section 10.02.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_063"></A>Section
10.03 <U>Notice of Defaults</U>. Within 90 days after the occurrence thereof, and if the Trustee has received written notice thereof,
the Trustee shall give to the Holders of the Securities of a series notice of each Default or Event of Default with respect to
the Securities of such series known to the Trustee (provided that, with respect to any Default specified in Section 7.01(d),</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">such notice shall not be given
until at least 30 days after the occurrence of such Default and unless at such time such Default is continuing), by transmitting
such notice to Holders at their addresses as the same shall then appear on the Register, unless such Default shall have been cured
or waived before the giving of such notice (the term &ldquo;Default&rdquo; being hereby defined to be the events specified in
Section 7.01, which are, or after notice or lapse of time or both would become, Events of Default as defined in said Section).
Except in the case of a Default or Event of Default in payment of the principal of, premium, if any, or interest on any of the
Securities of such series when and as the same shall become payable, or to make any mandatory sinking fund payment as to Securities
of the same series, the Trustee shall be protected in withholding such notice, if and so long as a Responsible Officer or Responsible
Officers of the Trustee in good faith determine that the withholding of such notice is in the interests of the Holders of the
Securities of such series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_064"></A>Section
10.04 <U>Eligibility; Disqualification</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) The
Trustee shall at all times satisfy the requirements of TIA Section 310(a). The Trustee shall have a combined capital and surplus
of at least $50 million as set forth in its most recent published annual report of condition, and shall have a Corporate Trust
Office. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section 10.04, it shall
resign immediately in the manner and with the effect hereinafter specified in this Article.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) The
Trustee shall comply with TIA Section 310(b); provided, however, that there shall be excluded from the operation of TIA Section
310(b)(i) any series of Securities under this Indenture and any indenture or indentures under which other securities or certificates
of interest or participation in other securities of the Company are outstanding if the requirements for such exclusion set forth
in TIA Section 310(b)(i) are met. If the Trustee has or shall acquire a conflicting interest within the meaning of Section 310(b)
of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided
by, and subject to the provisions of, the Trust Indenture Act (including the provisions thereof allowing the Trustee to apply
to the SEC for permission not to resign) and this Indenture. If Section 310(b) of the Trust Indenture Act is amended any time
after the date of this Indenture to change the circumstances under which a Trustee shall be deemed to have a conflicting interest
with respect to the Securities of any series or to change any of the definitions in connection therewith, this Section 10.04 shall
be automatically amended to incorporate such changes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 45; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_065"></A>Section
10.05 <U>Resignation and Notice; Removal</U>. The Trustee, or any successor to it hereafter appointed, may at any time resign
and be discharged of the trusts hereby created with respect to any one or more or all series of Securities by giving to the Company
notice in writing. Such resignation shall take effect upon the appointment of a successor Trustee and the acceptance of such appointment
by such successor Trustee. Any Trustee hereunder may be removed with respect to any series of Securities at any time by the filing
with such Trustee and the delivery to the Company of an instrument or instruments in writing signed by the Holders of a majority
in principal amount of the Securities of such series then Outstanding, specifying such removal and the date when it shall become
effective.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">If at any time:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) the
Trustee shall fail to comply with the provisions of TIA Section 310(b) after written request therefor by the Company or by any
Holder who has been a bona fide Holder of a Security for at least six months (or, if it is a shorter period, the period since
the initial issuance of the Securities of such series), or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) the
Trustee shall cease to be eligible under Section 10.04 and shall fail to resign after written request therefor by the Company
or by any Holder who has been a bona fide Holder of a Security for at least six months (or, if it is a shorter period, the period
since the initial issuance of the Securities of such series), or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) the
Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property
shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose
of rehabilitation, conservation or liquidation,</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">then, in any such case, (i)
the Company by 30 days&rsquo; prior written notice to the Trustee may remove the Trustee and appoint a successor Trustee with
respect to all Securities, or (ii) subject to TIA Section 315(e), any Securityholder who has been a bona fide Holder of a Security
for at least six months (or, if it is a shorter period, the period since the initial issuance of the Securities of such series)
may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the
Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">Upon its resignation or removal,
any Trustee shall be entitled to the payment of reasonable compensation for the services rendered hereunder by such Trustee and
to the payment of all reasonable expenses incurred hereunder and all moneys then due to it hereunder. The Trustee&rsquo;s rights
to indemnification provided in Section 10.01(a) shall survive its resignation or removal.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_066"></A>Section
10.06 <U>Successor Trustee by Appointment</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) In case
at any time the Trustee shall resign, or shall be removed (unless the Trustee shall be removed as provided in Section 10.05, in
which event the vacancy shall be filled as provided in said subdivision), or shall become incapable of acting, or shall be adjudged
bankrupt or insolvent, or if a receiver of the Trustee or of its property shall be appointed, or if 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
with respect to the Securities of one or more series, the Company shall appoint a successor Trustee with respect to the Securities
of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of
one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any series)
or, in case all or substantially all the assets of the Company shall be in the possession of one or more custodians or receivers
lawfully appointed, or of trustees in bankruptcy or reorganization proceedings (including a trustee or trustees appointed under
the provisions of the federal bankruptcy laws, as now or hereafter constituted), or of assignees for the benefit of creditors,
such receivers, custodians, trustees or assignees, as the case may be, by an instrument in writing, shall appoint a successor
Trustee with respect to the Securities of such series. Subject to the provisions of Sections 10.04 and 10.05, upon the appointment
as aforesaid of a successor Trustee with respect to the Securities of any series, the Trustee with respect to the Securities of
such series shall cease to be Trustee hereunder. After any such appointment other than by the Holders of Securities of that or
those series, the Person making such appointment shall forthwith cause notice thereof to be given to the Holders of Securities
of such series, but any successor Trustee with respect to the Securities of such series so appointed shall, immediately and without
further act, be superseded by a successor Trustee appointed by the Holders of a majority in principal amount of the Securities
of such series then Outstanding, by an instrument or instruments in writing signed in duplicate by each of such Holders and filed,
one original thereof with the Company and the other with the successor Trustee, if such appointment be made prior to the expiration
of one year from the date of the giving of such notice by the Company, or by such receivers, trustees or assignees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 46; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) If any
Trustee with respect to the Securities of one or more series shall resign or be removed and a successor Trustee shall not within
30 days thereafter have been appointed by the Company or by the Holders of the Securities of such series or if any successor Trustee
so appointed shall not have accepted its appointment within 30 days after such appointment shall have been made, the resigning
Trustee at the expense of the Company may apply to any court of competent jurisdiction for the appointment of a successor Trustee.
If in any other case a successor Trustee shall not be appointed pursuant to the foregoing provisions of this Section 10.06 within
three months after such appointment might have been made hereunder, the Holder of any Security of the applicable series or any
retiring Trustee at the expense of the Company may apply to any court of competent jurisdiction to appoint a successor Trustee.
Such court may thereupon, in any such case, after such notice, if any, as such court may deem proper and prescribe, appoint a
successor Trustee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) Any
successor Trustee appointed hereunder with respect to the Securities of one or more series shall execute, acknowledge and deliver
to its predecessor Trustee and to the Company, or to the receivers, trustees, assignees or court appointing it, as the case may
be, an instrument accepting such appointment hereunder, and thereupon such successor Trustee, without any further act, deed or
conveyance, shall become vested with all the authority, rights, powers, trusts, immunities, duties and obligations with respect
to such series of such predecessor Trustee with like effect as if originally named as Trustee hereunder, and such predecessor
Trustee, upon payment of its charges and disbursements then unpaid, shall thereupon become obligated to pay over, and such successor
Trustee shall be entitled to receive, all moneys and properties held by such predecessor Trustee as Trustee hereunder, subject
nevertheless to its lien provided for in Section 10.01(a). Nevertheless, on the written request of the Company or of the successor
Trustee or of the Holders of at least 10% in principal amount of the Securities of such series then Outstanding, such predecessor
Trustee, upon payment of its said charges and disbursements, shall execute and deliver an instrument transferring to such successor
Trustee upon the trusts herein expressed all the rights, powers and trusts of such predecessor Trustee and shall assign, transfer
and deliver to the successor Trustee all moneys and properties held by such predecessor Trustee, subject nevertheless to its lien
provided for in Section 10.01(a); and, upon request of any such successor Trustee or the Company shall make, execute, acknowledge
and deliver any and all instruments in writing for more fully and effectually vesting in and confirming to such successor Trustee
all such authority, rights, powers, trusts, immunities, duties and obligations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_067"></A>Section
10.07 <U>Successor Trustee by Merger</U>. Any Person into which the Trustee or any successor to it in the trusts created by this
Indenture shall be merged or converted, or any Person with which it or any successor to it shall be consolidated, or any Person
resulting from any merger, conversion or consolidation to which the Trustee or any such successor to it shall be a party, or any
Person to which the Trustee or any successor to it shall sell or otherwise transfer all or substantially all of the corporate
trust business of the Trustee, shall be the successor Trustee under this Indenture without the execution or filing of any paper
or any further act on the part of any of the parties hereto; provided that such Person shall be otherwise qualified and eligible
under this Article. In case at the time such successor to the Trustee shall succeed to the trusts created by this Indenture with
respect to one or more series of Securities, any of such Securities shall have been authenticated but not delivered by the Trustee
then in office, any successor to such Trustee may adopt the certificate of authentication of any predecessor Trustee, and deliver
such Securities so authenticated; and in case at that time any of the Securities shall not have been authenticated, any successor
to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the successor
Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Securities or in this Indenture
provided that the certificate of the Trustee shall have; provided, however, that the right to adopt the certificate of authentication
of any predecessor Trustee or authenticate Securities in the name of any predecessor Trustee shall apply only to its successor
or successors by merger, conversion or consolidation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 47; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_068"></A>Section
10.08 <U>Right to Rely on Officer&rsquo;s Certificate</U>. Subject to Section 10.02, and subject to the provisions of Section
15.01 with respect to the certificates required thereby, whenever in the administration of the provisions of this Indenture the
Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering any action hereunder,
such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of negligence or
willful misconduct on the part of the Trustee, be deemed to be conclusively proved and established by an Officer&rsquo;s Certificate
or a Company Order with respect thereto delivered to the Trustee, and such Officer&rsquo;s Certificate or Company Order, in the
absence of negligence or willful misconduct on the part of the Trustee, shall be full warrant to the Trustee for any action taken,
suffered or omitted by it under the provisions of this Indenture upon reliance thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_069"></A>Section
10.09 <U>Appointment of Authenticating Agent</U>. The Trustee may appoint an agent (the &ldquo;Authenticating Agent&rdquo;) acceptable
to the Company to authenticate the Securities, and the Trustee shall give written notice of such appointment to all Holders of
Securities of the series with respect to which such Authenticating Agent will serve. Unless limited by the terms of such appointment,
any such Authenticating Agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to
authentication by the Trustee includes authentication by the Authenticating Agent. 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">Each Authenticating Agent
shall at all times be a corporation organized and doing business and in good standing under the laws of the United States, any
state thereof or the District of Columbia, authorized under such laws to act as Authenticating Agent, having a combined capital
and surplus of not less than $50,000,000 and subject to supervision or examination by federal or state authority. If such corporation
publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority,
then for the purposes of this Article X, the combined capital and surplus of such corporation shall be deemed to be its combined
capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall
cease to be eligible in accordance with the provisions of this Article X, it shall resign immediately in the manner and with the
effect specified in this Article X.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">Any corporation into which
an Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any
merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to the
corporate agency or corporate trust business of an Authenticating Agent, shall continue to be an Authenticating Agent, provided
such</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt">corporation shall be otherwise
eligible under this Article X, without the execution or filing of any paper or any further act on the part of the Trustee or the
Authenticating Agent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"></P>

<!-- Field: Page; Sequence: 48; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">An Authenticating Agent may
resign at any time by giving written notice thereof to the Trustee and to the Company. The Trustee may at any time terminate the
agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving
such a notice of resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease to be eligible
in accordance with the provisions of this Section 10.09, the Trustee may appoint a successor Authenticating Agent which shall
be acceptable to the Company and shall give written notice of such appointment to all Holders of Securities of the series with
respect to which such Authenticating Agent will serve. Any successor Authenticating Agent upon acceptance of its appointment hereunder
shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named
as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the provisions of this
Section 10.09.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">The Company agrees to pay
to each Authenticating Agent from time to time reasonable compensation for its services under this Section 10.09.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_070"></A>Section
10.10 <U>Communications by Securityholders with Other Securityholders</U>. Holders of Securities may communicate pursuant to Section
312(b) of the Trust Indenture Act with other Holders with respect to their rights under this Indenture or the Securities. The
Company, the Trustee, the Registrar and anyone else shall have the protection of Section 312(c) of the Trust Indenture Act with
respect to such communications.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_071"></A>Section
10.11 <U>Preferential Collection of Claims Against Company</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">The Trustee is subject to
Section 311(a) of the Trust Indenture Act, excluding any creditor relationship listed in Section 311(b) of the Trust Indenture
Act. A Trustee that has resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent indicated
therein.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><A NAME="e25030a_072"></A>Article
XI</FONT><FONT STYLE="font-size: 10pt"><BR>
<U>SATISFACTION AND DISCHARGE&#894; DEFEASANCE</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_073"></A>Section
11.01 <U>Satisfaction and Discharge of Indenture</U>. This Indenture, with respect to the Securities of any series, shall, upon
Company Order, cease to be of further effect (except as to any surviving rights of registration of transfer or exchange of such
Securities herein expressly provided for and rights to receive payments of principal of and premium, if any, and interest on such
Securities) and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge
of this Indenture with respect to the Securities of such series, when:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) either:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(i) all
Securities of such series theretofore authenticated and delivered (other than (A) Securities that have been destroyed, lost or
stolen and that have been replaced or paid as provided in Section 3.07 and (B) Securities for whose payment money has theretofore
been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from
such trust, as provided in Section 6.03) have been delivered to the Trustee for cancellation; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(ii) all
Securities of such series not theretofore delivered to the Trustee for cancellation,</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(A) have
become due and payable, or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(B) will
become due and payable at their Stated Maturity within one year, or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 49; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->44<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(C) are
to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice by the Trustee
in the name, and at the expense, of the Company,</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">and the Company, in the case
of (A), (B) or (C) above, has deposited or caused to be deposited with the Trustee or Paying Agent as trust funds in trust for
the purpose an amount in the Currency in which such Securities are denominated (except as otherwise provided pursuant to Section
3.01) sufficient to pay and discharge the entire Indebtedness on such Securities for principal and premium, if any, and interest
to the date of such deposit (in the case of Securities that have become due and payable) or to the Stated Maturity or Redemption
Date, as the case may be;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) the
Company has paid or caused to be paid all other sums payable hereunder by the Company with respect to the Securities of such series;
and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) the
Company has delivered to the Trustee an Officer&rsquo;s Certificate and an Opinion of Counsel each stating that all conditions
precedent herein provided for relating to the satisfaction and discharge of this Indenture with respect to such series have been
complied with. Notwithstanding the satisfaction and discharge of this Indenture with respect to any series of Securities, the
obligations of the Company to the Trustee under Section 10.01 and, if money shall have been deposited with the Trustee pursuant
to subclause (B) of clause (a)(i) of this Section with respect to Securities of such series, the obligations of the Trustee with
respect to the Securities of such series under Section 6.03(e) and 11.07 shall survive.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_074"></A>Section
11.02 <U>Discharge or Defeasance upon Deposit of Moneys or U.S. Government Obligations</U>. At the Company&rsquo;s option, either
(a) the Company shall be deemed to have been Discharged (as defined below) from its obligations with respect to Securities of
any series on the first day after the applicable conditions set forth below have been satisfied or (b) the Company shall be deemed
to have effected Covenant Defeasance with respect to Securities of any series at any time after the applicable conditions set
forth below have been satisfied (and such action or event under clause (a) or (b) of this paragraph in no circumstance may be
construed as an Event of Default under Section 7.01):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) the
Company shall have deposited or caused to be deposited irrevocably with the Trustee as trust funds in trust, specifically pledged
as security for, and dedicated solely to, the benefit of the Holders of the Securities of such series (i) money in an amount,
or (ii) U.S. Government Obligations (as defined below) that through the payment of interest and principal in respect thereof in
accordance with their terms will provide, not later than one day before the due date of any payment, money in an amount, or (iii)
a combination of (i) and (ii), which, with respect to (ii) or (iii), in the opinion of a certified public accounting firm of national
reputation shall be sufficient to pay and discharge each installment of principal (including any mandatory sinking fund payments)
of and premium, if any, and interest on, the Outstanding Securities of such series on the dates such installments of interest
or principal and premium are due;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) no Default
with respect to the Securities of such series shall have occurred and be continuing on the date of such deposit (other than a
Default resulting from the borrowing of funds and the grant of any related liens to be applied to such deposit); and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) the
Company shall have delivered to the Trustee an Opinion of Counsel and an Officer&rsquo;s Certificate as required by Section 15.01
and an Opinion of Counsel to the effect that Holders of the Securities of such series will not recognize income, gain or loss
for United States federal income tax purposes as a result of the Company&rsquo;s exercise of its option under this Section and
will be subject to federal income tax on the same amounts and in the same manner and at the same times as would have been the
case if such action had not been exercised and, in the case of the Securities of such series being Discharged accompanied by a
ruling to that effect received from or published by the United States Internal Revenue Service.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 50; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">&ldquo;Discharged&rdquo; means
that the Company shall be deemed to have paid and discharged the entire Indebtedness represented by, and obligations under, the
Securities of such series and to have satisfied all the obligations under this Indenture relating to the Securities of such series
(and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), except (A) the rights
of Holders of Securities of such series to receive, from the trust fund described in clause (a) above, payment of the principal
of and premium, if any, and interest on such Securities when such payments are due, (B) the Company&rsquo;s obligations with respect
to Securities of such series under Sections 3.04, 3.06, 3.07, 6.02, 11.05 and 11.06 and (C) the rights, powers, trusts, duties
and immunities of the Trustee hereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">&ldquo;U.S. Government Obligations&rdquo;
means securities that are (i) direct obligations of the United States for the payment of which its full faith and credit is pledged
or (ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States the
timely payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States, that, in either
case under clauses (i) or (ii) are not callable or redeemable at the option of the issuer thereof, and shall also include a depositary
receipt issued by a bank or trust company as custodian with respect to any such U.S. Government Obligation or a specific payment
of interest on or principal of any such U.S. Government Obligation held by such custodian for the account of the holder of a depositary
receipt&#894; provided that (except as required by law) such custodian is not authorized to make any deduction from the amount
payable to the holder of such depositary receipt from any amount received by the custodian in respect of the U.S. Government Obligation
or the specific payment of interest on or principal of the U.S. Government Obligation evidenced by such depositary receipt.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">&ldquo;Covenant Defeasance&rdquo;
with respect to the Securities of any series means that the Company shall cease to be under any obligation to comply with, and
shall have no liability in respect of, any term, provision or condition set forth in Section 6.04 and Section 9.02 with respect
to Securities of such series (and, if so specified pursuant to Section 3.01, any other covenant added for the benefit of such
series pursuant to Section 3.01), whether directly or indirectly, by reason of any reference elsewhere herein to any such Section
or any such other covenant or by reason of reference in any such Section or any such other covenant to any other provision herein
or in any other document, and such omission to comply shall not constitute a Default or an Event of Default. Securities of any
series with respect to which Covenant Defeasance has been effected pursuant to this Section 11.02 shall thereafter be deemed to
be not Outstanding for the purposes of any request, demand, authorization, direction, notice, consent, waiver or other action
of Holders (and the consequences of any thereof) in connection with any such Section or any such other covenant with respect to
the Securities of such series, but shall continue to be deemed to be Outstanding for all other purposes hereunder (it being understood
that such Securities shall not be deemed outstanding for accounting purposes).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_075"></A>Section
11.03 <U>Repayment to Company</U>. The Trustee and any Paying Agent shall promptly pay to the Company (or to its designee) upon
Company Order any excess moneys or U.S. Government Obligations held by them at any time, including any such moneys or obligations
held by the Trustee under any escrow trust agreement entered into pursuant to Section 11.06. The provisions of Section 6.03(e)
shall apply to any money held by the Trustee or any Paying Agent under this Article that remains unclaimed for two years after
the Maturity of any series of Securities for which money or U.S. Government Obligations have been deposited pursuant to Section
11.02.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_076"></A>Section
11.04 <U>Indemnity for U.S. Government Obligations</U>. The Company shall pay and shall indemnify the Trustee against any tax,
fee or other charge imposed on or assessed against the deposited U.S. Government Obligations or the principal or interest received
on such U.S. Government Obligations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 51; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_077"></A>Section
11.05 <U>Deposits to Be Held in Escrow</U>. Any deposits with the Trustee referred to in Section 11.03 above shall be irrevocable
(except to the extent provided in Sections 11.04 and 11.07) and shall be made under the terms of an escrow trust agreement. If
any Outstanding Securities of a series are to be redeemed prior to their Stated Maturity, whether pursuant to any optional redemption
provisions or in accordance with any mandatory or optional sinking fund requirement, the applicable escrow trust agreement shall
provide therefor and the Company shall make such arrangements as are satisfactory to the Trustee for the giving of notice of redemption
by the Trustee in the name, and at the expense, of the Company. The agreement shall provide that, upon satisfaction of any mandatory
sinking fund payment requirements, whether by deposit of moneys, application of proceeds of deposited U.S. Government Obligations
or, if permitted, by delivery of Securities, the Trustee shall pay or deliver over to the Company as excess moneys pursuant to
Section 11.03 all funds or obligations then held under the agreement and allocable to the sinking fund payment requirements so
satisfied.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">If Securities of a series
with respect to which such deposits are made may be subject to later redemption at the option of the Company or pursuant to optional
sinking fund payments, the applicable escrow trust agreement may, at the option of the Company, provide therefor. In the case
of an optional redemption in whole or in part, such agreement shall require the Company to deposit with the Trustee on or before
the date notice of redemption in given funds sufficient to pay the Redemption Price of the Securities to be redeemed together
with all unpaid interest thereon to the Redemption Date. Upon such deposit of funds, the Trustee shall pay or deliver over to
the Company as excess funds pursuant to Section 11.03 all funds or obligations then held under such agreement and allocable to
the Securities to be redeemed. In the case of exercise of optional sinking fund payment rights by the Company, such agreement
shall, at the option of the Company, provide that upon deposit by the Company with the Trustee of funds pursuant to such exercise
the Trustee shall pay or deliver over to the Company as excess funds pursuant to Section 11.03 all funds or obligations then held
under such agreement for such series and allocable to the Securities to be redeemed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_078"></A>Section
11.06 <U>Application of Trust Money</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) Neither
the Trustee nor any other Paying Agent shall be required to pay interest on any moneys deposited pursuant to the provisions of
this Indenture, except such as it shall agree with the Company in writing to pay thereon. Any moneys so deposited for the payment
of the principal of, or premium, if any, or interest on the Securities of any series and remaining unclaimed for two years after
the date of the maturity of the Securities of such series or the date fixed for the redemption of all the Securities of such series
at the time outstanding, as the case may be, shall be repaid by the Trustee or such other Paying Agent to the Company upon its
written request and thereafter, anything in this Indenture to the contrary notwithstanding, any rights of the Holders of Securities
of such series in respect of which such moneys shall have been deposited shall be enforceable only against the Company, and all
liability of the Trustee or such other Paying Agent with respect to such moneys shall thereafter cease.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) Subject
to the provisions of the foregoing paragraph, any moneys which at any time shall be deposited by the Company or on its behalf
with the Trustee or any other Paying Agent for the purpose of paying the principal of, premium, if any, and interest on any of
the Securities shall be and are hereby assigned, transferred and set over to the Trustee or such other Paying Agent in trust for
the respective Holders of the Securities for the purpose for which such moneys shall have been deposited; but such moneys need
not be segregated from other funds except to the extent required by law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_079"></A>Section
11.07 <U>Deposits of Non-U.S. Currencies</U>. Notwithstanding the foregoing provisions of this Article, if the Securities of any
series are payable in a Currency other than U.S. Dollars, the Currency or the nature of the government obligations to be deposited
with the Trustee under the foregoing provisions of this Article shall be as set forth in the Company Order or established in the
supplemental indenture under which the Securities of such series are issued.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"></FONT></P>

<!-- Field: Page; Sequence: 52; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><A NAME="e25030a_080"></A>Article
XII</FONT><FONT STYLE="font-size: 10pt"><BR>
<U>IMMUNITY OF CERTAIN PERSONS</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_081"></A>Section
12.01 <U>No Personal Liability</U>. No recourse shall be had for the payment of the principal of, or the premium, if any, or interest
on, any Security or for any claim based thereon or otherwise in respect thereof or of the Indebtedness represented thereby, or
upon any obligation, covenant or agreement of this Indenture, against any incorporator, partner, stockholder, other equity holder,
officer, director, employee or controlling person, as such, past, present or future, of the Company or of any predecessor or successor
entity, either directly or through the Company or any predecessor or successor entity, whether by virtue of any constitutional
provision, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly agreed
and understood that this Indenture and the Securities are solely obligations of the Company, and that no personal liability whatsoever
shall attach to, or be incurred by, any incorporator, partner, stockholder, other equity holder, officer, director, employee or
controlling person, as such, past, present or future, of the Company or of any predecessor or successor entity, either directly
or through the Company or any predecessor or successor entity, because of the incurring of the Indebtedness hereby authorized
or under or by reason of any of the obligations, covenants or agreements contained in this Indenture or in any of the Securities,
or to be implied herefrom or therefrom, and that all liability, if any, of that character against every such incorporator, partner,
stockholder, other equity holder, officer, director, employee or controlling person, as such, past, present or future, of the
Company or of any predecessor or successor entity is, by the acceptance of the Securities by the Holders thereof and as a condition
of, and as part of the consideration for, the execution of this Indenture and the issue of the Securities, expressly waived and
released.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><A NAME="e25030a_082"></A>Article
XIII</FONT><FONT STYLE="font-size: 10pt"><BR>
<U>SUPPLEMENTAL INDENTURES</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_083"></A>Section
13.01 <U>Without Consent of Securityholders</U>. Except as otherwise provided as contemplated by Section 3.01 with respect to
any series of Securities, the Company and the Trustee, at any time and from time to time, may enter into one or more indentures
supplemental hereto, in form satisfactory to the Trustee and the Company, for any one or more of or all the following purposes:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) to add
to the covenants and agreements of the Company, to be observed thereafter and during the period, if any, in such supplemental
indenture or indentures expressed, and to add Events of Default, in each case for the protection or benefit of the Holders of
all or any series of the Securities (and if such covenants, agreements and Events of Default are to be for the benefit of fewer
than all series of Securities, stating that such covenants, agreements and Events of Default are expressly being included for
the benefit of such series as shall be identified therein), or to surrender any right or power herein conferred upon the Company;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) to delete
or modify any Events of Default with respect to all or any series of the Securities, the form and terms of which are being established
pursuant to such supplemental indenture as permitted in Section 3.01 (and, if any such Event of Default is applicable to fewer
than all such series of the Securities, specifying the series to which such Event of Default is applicable), and to specify the
rights and remedies of the Trustee and the Holders of such Securities in connection therewith;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) to add
to or change any of the provisions of this Indenture, including to provide, change or eliminate any restrictions on the payment
of principal of or premium, if any, on Securities; provided that any such action shall not adversely affect the interests of the
Holders of Securities of any series in any material respect;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 53; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(d) to change
or eliminate any of the provisions of this Indenture; provided that any such change or elimination shall become effective only
when there is no Outstanding Security of any series created prior to the execution of such supplemental indenture that is entitled
to the benefit of such provision and as to which such supplemental indenture would apply;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(e) to evidence
the succession of another Person to the Company, or successive successions, and the assumption by such successor of the covenants
and obligations of the Company contained in the Securities of one or more series and in this Indenture or any supplemental indenture;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(f) to evidence
and provide for the acceptance of appointment hereunder by a successor Trustee with respect to one or more series of Securities
and to add to or change any of the provisions of this Indenture as shall be necessary for or facilitate the administration of
the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 10.06(c);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(g) to secure
any series of Securities or to release any collateral or lien securing Securities of any series in accordance with the terms of
the Securities of such series;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(h) to evidence
any changes to this Indenture pursuant to Sections 10.05, 10.06 or 10.07 hereof as permitted by the terms thereof;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(i) to cure
any ambiguity or to correct or supplement any provision contained herein or in any indenture supplemental hereto which may be
defective or inconsistent with any other provision contained herein or in any supplemental indenture or to conform the terms hereof,
as amended and supplemented, that are applicable to the Securities of any series to the description of the terms of such Securities
in the offering memorandum, prospectus supplement or other offering document applicable to such Securities at the time of initial
sale thereof;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(j) to add
to or change or eliminate any provision of this Indenture as shall be necessary or desirable in accordance with any amendments
to the Trust Indenture Act;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(k) to add
guarantors or co-obligors with respect to any series of Securities or to release guarantors from their guarantees of Securities
in accordance with the terms of the applicable series of Securities;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(l) to make
any change in any series of Securities that does not adversely affect in any material respect the rights of the Holders of such
Securities;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(m) to provide
for uncertificated securities in addition to certificated securities;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(n) to supplement
any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the defeasance and discharge
of any series of Securities; provided that any such action shall not adversely affect the interests of the Holders of Securities
of such series or any other series of Securities in any material respect;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(o) to prohibit
the authentication and delivery of additional series of Securities; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(p) to establish
the form and terms of Securities of any series as permitted in Section 3.01, or to authorize the issuance of additional Securities
of a series previously authorized or to add to the conditions, limitations or restrictions on the authorized amount, terms or
purposes of issue, authentication or delivery of the Securities of any series, as herein set forth, or other conditions, limitations
or restrictions thereafter to be observed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"></P>

<!-- Field: Page; Sequence: 54; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->49<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">Subject to the provisions
of Section 13.03, the Trustee is authorized to join with the Company in the execution of any such supplemental indenture, to make
the further agreements and stipulations which may be therein contained and to accept the conveyance, transfer, assignment, mortgage
or pledge of any property or assets thereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">Any supplemental indenture
authorized by the provisions of this Section 13.01 may be executed by the Company and the Trustee without the consent of the Holders
of any of the Securities at the time Outstanding.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_084"></A>Section
13.02 <U>With Consent of Securityholders; Limitations</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) With
the consent of the Holders (evidenced as provided in Article VIII) of a majority in aggregate principal amount of the Outstanding
Securities of each series affected by such supplemental indenture voting separately, the Company and the Trustee may, from time
to time and at any time, enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to
or changing in any manner or eliminating any provisions of this Indenture or of modifying in any manner the rights of the Holders
of the Securities of such series to be affected; provided, however, that, except as otherwise provided as contemplated by Section
3.01 with respect to the Securities of such series, no such supplemental indenture shall, without the consent of the Holder of
each Outstanding Security of each such series affected thereby,</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(i) extend
the Stated Maturity of the principal of, or any installment of interest on, any Security, or reduce the principal amount thereof
or the interest thereon or any premium payable upon redemption thereof, or extend the Stated Maturity of, or change the Place
of Payment where, or the Currency in which the principal of and premium, if any, or interest on such Security is denominated or
payable, or reduce the amount of the principal of an Original Issue Discount Security that would be due and payable upon a declaration
of acceleration of the Maturity thereof pursuant to Section 7.02, or impair the right to institute suit for the enforcement of
any payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date), or materially
adversely affect the economic terms of any right to convert or exchange any Security as may be provided pursuant to Section 3.01;
or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(ii) reduce
the percentage in principal amount of the Outstanding Securities of any series, the consent of whose Holders is required for any
supplemental indenture, or the consent of whose Holders is required for any waiver of compliance with certain provisions of this
Indenture or certain Defaults hereunder and their consequences provided for in this Indenture; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(iii) modify
any of the provisions of this Section, Section 7.06 or Section 6.06, except to increase any such percentage or to provide that
certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding
Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any Holder with respect
to changes in the references to &ldquo;the Trustee&rdquo; and concomitant changes in this Section and Section 6.06, or the deletion
of this proviso, in accordance with the requirements of Sections 10.06 and 13.01(f); or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(iv) modify,
without the written consent of the Trustee, the rights, duties or immunities of the Trustee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) A supplemental
indenture that changes or eliminates any provision of this Indenture which has expressly been included solely for the benefit
of one or more particular series of Securities or which modifies the rights of the Holders of Securities of such series with respect
to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders of Securities
of any other series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 55; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->50<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) It shall
not be necessary for the consent of the Securityholders under this Section 13.02 to approve the particular form of any proposed
supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(d) The
Company may set a record date for purposes of determining the identity of the Holders of each series of Securities entitled to
give a written consent or waive compliance by the Company as authorized or permitted by this Section. Such record date shall not
be more than 30 days prior to the first solicitation of such consent or waiver or the date of the most recent list of Holders
furnished to the Trustee prior to such solicitation pursuant to Section 312 of the Trust Indenture Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(e) Promptly
after the execution by the Company and the Trustee of any supplemental indenture pursuant to the provisions of this Section 13.02,
the Company shall give a notice, setting forth in general terms the substance of such supplemental indenture, to the Holders of
Securities. Any failure of the Company to give such notice, or any defect therein, shall not, however, in any way impair or affect
the validity of any such supplemental indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_085"></A>Section
13.03 <U>Trustee Protected</U>. Upon the request of the Company, accompanied by the Officer&rsquo;s Certificate and Opinion of
Counsel required by Section 15.01 stating that the execution of such supplemental indenture is authorized or permitted by this
Indenture and evidence reasonably satisfactory to the Trustee of consent of the Holders if the supplemental indenture is to be
executed pursuant to Section 13.02, the Trustee shall join with the Company in the execution of said supplemental indenture unless
said supplemental indenture affects the Trustee&rsquo;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 said supplemental indenture. The Trustee
shall be fully protected in relying upon such Officer&rsquo;s Certificate and Opinion of Counsel.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_086"></A>Section
13.04 <U>Effect of Execution of Supplemental Indenture</U>. Upon the execution of any supplemental indenture pursuant to the provisions
of this Article XIII, this Indenture shall be deemed to be modified and amended in accordance therewith and, except as herein
otherwise expressly provided, the respective rights, limitations of rights, obligations, duties and immunities under this Indenture
of the Trustee, the Company and the Holders of all of the Securities or of the Securities of any series affected, as the case
may be, 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_087"></A>Section
13.05 <U>Notation on or Exchange of Securities</U>. Securities of any series authenticated and delivered after the execution of
any supplemental indenture pursuant to the provisions of this Article may bear a notation in the form approved by the Trustee
as to any matter provided for in such supplemental indenture. If the Company or the Trustee shall so determine, new Securities
so modified as to conform, in the opinion of the Trustee and the Board of Directors of the Company, to any modification of this
Indenture contained in any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered
by the Trustee in exchange for the Securities then Outstanding in equal aggregate principal amounts, and such exchange shall be
made without cost to the Holders of the Securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_088"></A>Section
13.06 <U>Conformity with TIA</U>. Every supplemental indenture executed pursuant to the provisions of this Article shall conform
to the requirements of the Trust Indenture Act as then in effect.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 56; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->51<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt; text-transform: uppercase">Article
XIV</FONT><FONT STYLE="font-size: 10pt"><BR>
<U><A NAME="e25030a_089"></A>SUBORDINATION OF SECURITIES</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_090"></A>Section
14.01 <U>Agreement to Subordinate</U>. In the event a series of Securities is designated as subordinated pursuant to Section 3.01,
and except as otherwise provided in a Company Order or in one or more indentures supplemental hereto, the Company, for itself,
its successors and assigns, covenants and agrees, and each Holder of Securities of such series, whether upon original issue or
upon transfer, assignment or exchange thereof, by his, her or its acceptance thereof, likewise covenants and agrees, that the
payment of the principal of (and premium, if any) and interest, if any, on each and all of the Securities of such series is hereby
expressly subordinated, to the extent and in the manner hereinafter set forth, in right of payment to the prior payment in full
of all Senior Indebtedness. Each Holder of such Securities designated as subordinated may be fully subordinated to interests held
by the United States government in the event that the Company enters into a bankruptcy, receivership, insolvency, liquidation
or similar proceeding. In the event a series of Securities is not designated as subordinated pursuant to Section 3.01(t), this
Article XIV shall have no effect upon the Securities of such series.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_091"></A>Section
14.02 <U>Distribution on Dissolution, Liquidation and Reorganization; Subrogation of Securities</U>. Subject to Section 14.01,
upon any distribution of assets of the Company upon any dissolution, winding up, liquidation or reorganization of the Company,
whether in bankruptcy, insolvency, reorganization or receivership proceedings or upon an assignment for the benefit of creditors
or any other marshalling of the assets and liabilities of the Company or otherwise (subject to the power of a court of competent
jurisdiction to make other equitable provision reflecting the rights conferred in this Indenture upon the Senior Indebtedness
and the holders thereof with respect to the Securities and the holders thereof by a lawful plan of reorganization under applicable
bankruptcy law):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) the
holders of all Senior Indebtedness shall be entitled to receive payment in full of the principal thereof (and premium, if any)
and interest due thereon before the Holders of the Securities are entitled to receive any payment upon the principal (or premium,
if any) or interest, if any, on Indebtedness evidenced by the Securities; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) any
payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to which the
Holders of the Securities or the Trustee would be entitled except for the provisions of this Article XIV shall be paid by the
liquidation trustee or agent or other Person making such payment or distribution, whether a trustee in bankruptcy, a receiver
or liquidating trustee or otherwise, directly to the holders of Senior Indebtedness or their representative or representatives
or to the trustee or trustees under any indenture under which any instruments evidencing any of such Senior Indebtedness may have
been issued, ratably according to the aggregate amounts remaining unpaid on account of the principal of (and premium, if any)
and interest on the Senior Indebtedness held or represented by each, to the extent necessary to make payment in full of all Senior
Indebtedness remaining unpaid, after giving effect to any concurrent payment or distribution to the holders of such Senior Indebtedness&#894;
and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) in the
event that, notwithstanding the foregoing, any payment or distribution of assets of the Company of any kind or character, whether
in cash, property or securities prohibited by the foregoing, shall be received by the Trustee or the Holders of the Securities
before all Senior Indebtedness is paid in full, such payment or distribution shall be paid over, upon written notice to a Responsible
Officer of the Trustee at its Corporate Trust Office, to the holder of such Senior Indebtedness or his, her or its representative
or representatives or to the trustee or trustees under any indenture under which any of such Senior Indebtedness may have been
issued, ratably as aforesaid, as calculated by the Company, for application to payment of all Senior Indebtedness remaining unpaid
until all such Senior Indebtedness shall have been paid in full, after giving effect to any concurrent payment or distribution
to the holders of such Senior Indebtedness.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 57; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->52<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(d) Subject
to the payment in full of all Senior Indebtedness, the Holders of the Securities shall be subrogated to the rights of the holders
of Senior Indebtedness (to the extent that distributions otherwise payable to such holder have been applied to the payment of
Senior Indebtedness) to receive payments or distributions of cash, property or securities of the Company applicable to Senior
Indebtedness until the principal of (and premium, if any) and interest, if any, on the Securities shall be paid in full and no
such payments or distributions to the Holders of the Securities of cash, property or securities otherwise distributable to the
holders of Senior Indebtedness shall, as between the Company, its creditors other than the holders of Senior Indebtedness, and
the Holders of the Securities be deemed to be a payment by the Company to or on account of the Securities. It is understood that
the provisions of this Article XIV are and are intended solely for the purpose of defining the relative rights of the Holders
of the Securities, on the one hand, and the holders of the Senior Indebtedness, on the other hand. Nothing contained in this Article
XIV or elsewhere in this Indenture or in the Securities is intended to or shall impair, as between the Company, its creditors
other than the holders of Senior Indebtedness, and the Holders of the Securities, the obligation of the Company, which is unconditional
and absolute, to pay to the Holders of the Securities the principal of (and premium, if any) and interest, if any, on the Securities
as and when the same shall become due and payable in accordance with their terms, or to affect the relative rights of the Holders
of the Securities and creditors of the Company other than the holders of Senior Indebtedness, nor shall anything herein or in
the Securities prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable
law upon default under this Indenture, subject to the rights, if any, under this Article XIV of the holders of Senior Indebtedness
in respect of cash, property or securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution
of assets of the Company referred to in this Article XIV, the Trustee, subject to the provisions of Section 14.05, shall be entitled
to conclusively rely upon a certificate of the liquidating trustee or agent or other person making any distribution to the Trustee
for the purpose of ascertaining the Persons entitled to participate in such distribution, the holders of Senior Indebtedness and
other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereof and
all other facts pertinent thereto or to this Article XIV.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(e) For
purposes of this Section 14.02, the words, &ldquo;cash or, property or securities&rdquo; shall not be deemed to include shares
of Capital Stock or warrants to purchase shares of Capital Stock of the Company as reorganized or readjusted, or securities of
the Company or any other Person provided for by a plan of arrangement, reorganization or readjustment, the payment of which is
subordinated (at least to the extent provided in this Article XIV with respect to the Securities of such) to the payment in full
of all Senior Indebtedness which may at the time be outstanding&#894; provided that (i) the Senior Indebtedness is assumed by
the new Person, if any, resulting from any such arrangement, reorganization or readjustment, and (ii) the rights of the holders
of the Senior Indebtedness are not, without the consent of such holders, adversely altered by such arrangement, reorganization
or readjustment. The consolidation of the Company with, or the merger of the Company into, another Person or the liquidation or
dissolution of the Company following the sale, conveyance or transfer of all or substantially all of its property and assets to
another Person upon the terms and conditions provided in Section 6.04 hereof shall not be deemed a dissolution, winding-up, liquidation
or reorganization for the purposes of this Section 14.02 if such other Person shall, as a part of such consolidation, merger,
sale, conveyance or transfer, comply with the conditions stated in Section 6.04.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_092"></A>Section
14.03 <U>No Payment on Securities in Event of Default on Senior Indebtedness</U>. Subject to Section 14.01, no payment by the
Company on account of principal (or premium, if any), sinking funds or interest, if any, on the Securities shall be made at any
time if: (i) a default on Senior Indebtedness exists that permits the holders of such Senior Indebtedness to accelerate its maturity
and (ii) the default is the subject of judicial proceedings or the Company has received notice of such default. The Company may
resume payments on the Securities when full payment of amounts then due for principal (premium, if any), sinking funds and interest
on Senior Indebtedness has been made or duly provided for in money or money&rsquo;s worth.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 58; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->53<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">In the event that, notwithstanding
the foregoing, any payment shall be received by the Trustee when such payment is prohibited by the preceding paragraph of this
Section 14.03, such payment shall be held in trust for the benefit of, and shall be paid over or delivered to, the holders of
such Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which
any of such Senior Indebtedness may have been issued, as their respective interests may appear, as calculated by the Company,
but only to the extent that the holders of such Senior Indebtedness (or their representative or representatives or a trustee)
notify the Trustee in writing within 90 days of such payment of the amounts then due and owing on such Senior Indebtedness and
only the amounts specified in such notice to the Trustee shall be paid to the holders of such Senior Indebtedness.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_093"></A>Section
14.04 <U>Payments on Securities Permitted</U>. Subject to Section 14.01, nothing contained in this Indenture or in any of the
Securities shall (a) affect the obligation of the Company to make, or prevent the Company from making, at any time except as provided
in Sections 14.02 and 14.03, payments of principal of (or premium, if any) or interest, if any, on the Securities or (b) prevent
the application by the Trustee of any moneys or assets deposited with it hereunder to the payment of or on account of the principal
of (or premium, if any) or interest, if any, on the Securities, unless a Responsible Officer of the Trustee shall have received
at its Corporate Trust Office written notice of any fact prohibiting the making of such payment from the Company or from the holder
of any Senior Indebtedness or from the trustee for any such holder, together with proof satisfactory to the Trustee of such holding
of Senior Indebtedness or of the authority of such trustee on or before the third Business Day prior to the date fixed for such
payment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_094"></A>Section
14.05 <U>Authorization of Securityholders to Trustee to Effect Subordination</U>. Subject to Section 14.01, each Holder of Securities
by his acceptance thereof authorizes and directs the Trustee on his, her or its behalf to take such action as may be necessary
or appropriate to effectuate the subordination as provided in this Article XIV and appoints the Trustee his attorney-in-fact for
any and all such purposes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_095"></A>Section
14.06 <U>Notices to Trustee</U>. The Company shall give prompt written notice to a Responsible Officer of the Trustee at its Corporate
Trust Office of any fact known to the Company that would prohibit the making of any payment of moneys or assets to or by the Trustee
in respect of the Securities of any series pursuant to the provisions of this Article XIV. Subject to Section 14.01, notwithstanding
the provisions of this Article XIV or any other provisions of this Indenture, neither the Trustee nor any Paying Agent (other
than the Company) shall be charged with knowledge of the existence of any Senior Indebtedness or of any fact which would prohibit
the making of any payment of moneys or assets to or by the Trustee or such Paying Agent, unless and until a Responsible Officer
of the Trustee or such Paying Agent shall have received (in the case of a Responsible Officer of the Trustee, at the Corporate
Trust Office of the Trustee) written notice thereof from the Company or from the holder of any Senior Indebtedness or from the
trustee for any such holder, together with proof satisfactory to the Trustee of such holding of Senior Indebtedness or of the
authority of such trustee and, prior to the receipt of any such written notice, the Trustee shall be entitled in all respects
conclusively to presume that no such facts exist&#894; provided, however, that if a Responsible Officer of the Trustee shall not
have received the notice provided for in this Section 14.06 with respect to any such moneys or assets on or before the third Business
Day prior to the date upon which by the terms hereof any such moneys or assets may become payable for any purpose (including,
without limitation, the payment of either the principal (or premium, if any) or interest, if any, on any Security) then, anything
herein contained to the contrary notwithstanding, the Trustee shall have full power and authority to receive such moneys or assets
and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary which
may be received by it after the third Business Day prior to such date. The Trustee shall be entitled to rely on the delivery to
it of a written notice by a Person representing himself to be a holder of Senior Indebtedness (or a trustee on behalf of such
holder) to establish that such a notice has been given by a holder of Senior Indebtedness or a trustee on behalf of any such holder.
In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person
as a holder of Senior Indebtedness to participate in any payment or distribution pursuant to this Article XIV, the Trustee may
request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness
held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and any other
facts pertinent to the rights of such Person under this Article XIV and, if such evidence is not furnished, the Trustee may defer
any payment to such Person pending judicial determination as to the right of such Person to receive such payment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"></P>

<!-- Field: Page; Sequence: 59; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->54<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">Regardless of anything to
the contrary herein, nothing shall prevent (a) any payment by the Company or the Trustee to the Securityholders of amounts in
connection with a redemption of Securities if (i) notice of such redemption has been given pursuant to Article IV prior to the
receipt by the Trustee of written notice of prohibition as aforesaid, and (ii) such notice of redemption is given not more than
60 days before the Redemption Date, or (b) any payment by the Trustee to the Securityholders of amounts deposited with it pursuant
to Article XI.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_096"></A>Section
14.07 <U>Trustee as Holder of Senior Indebtedness</U>. Subject to Section 14.01, the Trustee in its individual capacity shall
be entitled to all the rights set forth in this Article XIV in respect of any Senior Indebtedness at any time held by it to the
same extent as any other holder of Senior Indebtedness and nothing in this Indenture shall be construed to deprive the Trustee
of any of its rights as such holder. Nothing in this Article XIV shall apply to claims of, or payments to, the Trustee under or
pursuant to Sections 7.05 or 10.01.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_097"></A>Section
14.08 <U>Modifications of Terms of Senior Indebtedness</U>. Subject to Section 14.01, any renewal or extension of the time of
payment of any Senior Indebtedness or the exercise by the holders of Senior Indebtedness of any of their rights under any instrument
creating or evidencing Senior Indebtedness, including, without limitation, the waiver of default thereunder, may be made or done
all without notice to or assent from the Holders of the Securities or the Trustee. No compromise, alteration, amendment, modification,
extension, renewal or other change of, or waiver, consent or other action in respect of, any liability or obligation under or
in respect of, or of any of the terms, covenants or conditions of any indenture or other instrument under which any Senior Indebtedness
is outstanding or of such Senior Indebtedness, whether or not such release is in accordance with the provisions of any applicable
document, shall in any way alter or affect any of the provisions of this Article XIV or of the Securities relating to the subordination
thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_098"></A>Section
14.09 <U>Reliance on Judicial Order or Certificate of Liquidating Agent</U>. Subject to Section 14.01, upon any payment or distribution
of assets of the Company referred to in this Article XIV, the Trustee and the Holders of the Securities shall be entitled to conclusively
rely upon any order or decree entered by any court of competent jurisdiction in which such insolvency, bankruptcy, receivership,
liquidation, reorganization, dissolution, winding up or similar case or proceeding is pending, or a certificate of the trustee
in bankruptcy, liquidating trustee, custodian, receiver, assignee for the benefit of creditors, agent or other person making such
payment or distribution, delivered to the Trustee or to the Holders of Securities, for the purpose of ascertaining the Persons
entitled to participate in such payment or distribution, the holders of Senior Indebtedness and other indebtedness of the Company,
the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto
or to this Article XIV.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 60; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->55<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_099"></A>Section
14.10 <U>Satisfaction and Discharge&#894; Discharge and Covenant Defeasance</U>. Subject to Section 14.01, amounts and U.S. Government
Obligations deposited in trust with the Trustee pursuant to and in accordance with Article XI and not, at the time of such deposit,
prohibited to be deposited under Sections 14.02 or 14.03 shall not be subject to this Article XIV.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_100"></A>Section
14.11 <U>Trustee Not Fiduciary for Holders of Senior Indebtedness</U>. With respect to the holders of Senior Indebtedness, the
Trustee undertakes to perform or observe only such of its covenants and obligations as are specifically set forth in this Article
XIV, and no implied covenants or obligations with respect to the holders of Senior Indebtedness shall be read into this Indenture
against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness. The Trustee
shall not be liable to any such holder if it shall pay over or distribute to or on behalf of Holders of Securities or the Company,
or any other Person, moneys or assets to which any holder of Senior Indebtedness shall be entitled by virtue of this Article XIV
or otherwise.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><A NAME="e25030a_101"></A>Article
XV</FONT><FONT STYLE="font-size: 10pt"><BR>
<U>MISCELLANEOUS PROVISIONS</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_102"></A>Section
15.01 <U>Certificates and Opinions as to Conditions Precedent</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) Upon
any request or application 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&rsquo;s Certificate stating that all conditions precedent, if any, provided for
in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion
of such counsel all such conditions precedent have been complied with, except that in the case of any such application or demand
as to which the furnishing of such document is specifically required by any provision of this Indenture relating to such particular
application or demand, no additional certificate or opinion need be furnished.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) Each
certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition
or covenant provided for in this Indenture (other than the certificates provided pursuant to Section 6.05 of this Indenture) shall
include (i) a statement that the Person giving 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 view or opinion of such Person, he or she has made such examination or investigation
as is necessary to enable such Person to express an informed view or 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 view or opinion of such Person, such condition or covenant
has been complied with.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(c) Any
certificate, statement or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate
or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that
the certificate or opinion or representations with respect to the matters upon which his or her certificate, statement or opinion
is based are erroneous. Any certificate, statement or Opinion of Counsel may be based, insofar as it relates to factual matters,
upon a certificate, statement or opinion of, or representations by, an officer or officers of the Company stating that the information
with respect to such factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of reasonable
care should know, that the certificate, statement or opinion or representations with respect to such matters are erroneous.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(d) Any
certificate, statement or opinion of an officer of the Company or of counsel to the Company may be based, insofar as it relates
to accounting matters, upon a certificate or opinion of, or representations by, an accountant or firm of accountants, unless such
officer or counsel, as the case may be, knows, or in the exercise of reasonable care should know, that the certificate or opinion
or representations with respect to the accounting matters upon which his or her certificate, statement or opinion may be based
are erroneous. Any certificate or opinion of any firm of independent registered public accountants filed with the Trustee shall
contain a statement that such firm is independent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 61; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->56<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(e) In any
case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary
that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered
by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such
Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(f) Where
any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions
or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(g) Any
certificate or opinion may be signed by the manual, facsimile or electronic signature of the person providing the opinion or certificate
and may be delivered to the Trustee by unsecured e-mail, pdf, facsimile transmission or other similar unsecured electronic method.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_103"></A>Section
15.02 <U>Trust Indenture Act Controls</U>. If and to the extent that any provision of this Indenture limits, qualifies or conflicts
with a provision of the Trust Indenture Act which is required under such Act to be a part of and govern this Indenture, the latter
provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act which
may be so modified or excluded, the latter provision shall be deemed to apply to this Indenture as so modified or to be excluded,
as the case may be.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_104"></A>Section
15.03 <U>Notices to the Company and Trustee</U>. Any notice, demand or other communication authorized by this Indenture to be
made upon, given or furnished to, or filed with, the Company or the Trustee shall be sufficiently made, given, furnished or filed
for all purposes if it shall be in writing and mailed, delivered or telefaxed (or, in the case of such notice, demand or other
communication by the Company to the Trustee, sent by e-mail that has been confirmed received or otherwise sent in accordance with
Section 15.03(a)):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) in the
case of such notice, demand or other communication to be made upon, given or furnished to, or filed with the Company, to the Company
at One Franklin Parkway, Building 920/2, San Mateo, CA, 94403, Attention: General Counsel, or at such other address or facsimile
number or e-mail address as the Company may designate from time to time by notice to the Trustee; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) in the
case of such notice, demand or other communication to be made upon, given or furnished to, or filed with the Trustee, to the Trustee
at the Corporate Trust Office of the Trustee, Attention: Corporate Trust Administration, Facsimile No.: (213) 630-6480 or such
other facsimile number or e-mail address as the Trustee may designate from time to time by notice to the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt">The Trustee agrees to accept
and act upon instructions or directions pursuant to this Indenture sent by unsecured e-mail, pdf, facsimile transmission or other
similar unsecured electronic methods, provided, however, that the Trustee shall have received an incumbency certificate listing
persons designated to give such instructions or directions and containing specimen manual, facsimile or electronic signatures
of such designated persons, which such incumbency certificate shall be amended and replaced whenever a person is to be added or
deleted from the listing. If the Company 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&rsquo;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&rsquo;s reliance upon and compliance with such instructions notwithstanding such instructions conflict
or are inconsistent with a subsequent written instruction. The Company 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 62; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->57<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">Any such notice, demand or
other communication shall be in the English language.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_105"></A>Section
15.04 <U>Notices; Waiver of Notice</U>. Any notice or other communication required or permitted to be given to Securityholders
shall be sufficiently given (unless otherwise herein expressly provided):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a) if given
in writing by first class mail, postage prepaid, to such Holders at their addresses as the same shall appear on the Register;
provided, that in the event of suspension of regular mail service or by reason of any other cause it shall be impracticable to
give notice by mail, then such notification as shall be given with the approval of the Trustee shall constitute sufficient notice
for every purpose hereunder; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">(b) in the
case of any Holder of a Global Security, if transmitted to the Depositary for such Security (or its designee) in accordance with
the applicable procedures of such Depositary.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">Where this Indenture provides
for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or
after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the
Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance on such waiver. In
any case where notice to Holders is given by mail; neither the failure to mail such notice nor any defect in any notice so mailed
to any particular Holder shall affect the sufficiency of such notice with respect to other Holders, and any notice that is mailed
in the manner herein provided shall be conclusively presumed to have been duly given. In any case where notice to Holders is given
by publication, any defect in any notice so published as to any particular Holder shall not affect the sufficiency of such notice
with respect to other Holders, and any notice that is published in the manner herein provided shall be conclusively presumed to
have been duly given.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_106"></A>Section
15.05 <U>Legal Holiday</U>. Unless otherwise specified pursuant to Section 3.01, in any case where any Interest Payment Date,
Redemption Date or Maturity of any Security of any series shall not be a Business Day at any Place of Payment for the Securities
of that series, then payment of principal and premium, if any, or interest need not be made at such Place of Payment on such date,
but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on such
Interest Payment Date, Redemption Date or Maturity and no interest shall accrue on such payment for the period from and after
such Interest Payment Date, Redemption Date or Maturity, as the case may be, to such Business Day if such payment is made or duly
provided for on such Business Day.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_107"></A>Section
15.06 <U>No Adverse Interpretation of Other Agreements</U>. This Indenture may not be used to interpret another indenture, loan
agreement or debt agreement of the Company or any Affiliate of the Company. Any such indenture, loan agreement or debt agreement
may not be used to interpret this Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_108"></A>Section
15.07 <U>Effects of Headings and Table of Contents</U>. The Article and Section headings herein and the Table of Contents are
for convenience only and shall not affect the construction hereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 63; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->58<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_109"></A>Section
15.08 <U>Successors and Assigns</U>. All covenants and agreements in this Indenture by the parties hereto shall bind their respective
successors and assigns and inure to the benefit of their permitted successors and assigns, whether so expressed or not.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_110"></A>Section
15.09 <U>Severability Clause</U>. In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable,
the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_111"></A>Section
15.10 <U>Benefits of Indenture</U>. Nothing in this Indenture expressed and nothing that may be implied from any of the provisions
hereof is intended, or shall be construed, to confer upon, or to give to, any Person other than the parties hereto and their successors
and the Holders of the Securities and, as to any series of Securities to which Article XIV is applicable, Senior Indebtedness,
any benefit or any right, remedy or claim under or by reason of this Indenture or any covenant, condition, stipulation, promise
or agreement hereof, and all covenants, conditions, stipulations, promises and agreements in this Indenture contained shall be
for the sole and exclusive benefit of the parties hereto and their successors and of the Holders of the Securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_112"></A>Section
15.11 <U>Counterparts Originals</U>. This Indenture may be executed in any number of counterparts, each of which so executed shall
be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. The exchange
of copies of this Indenture and of signature pages by facsimile transmission or by transmission as a PDF e-mail attachment 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 e-mail attachment shall be deemed
to be their original signatures for all purposes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_113"></A>Section
15.12 <U>Governing Law; Submission to Jurisdiction; Waiver of Trial by Jury</U>. This Indenture and the Securities shall be deemed
to be contracts made under the law of the State of New York, and for all purposes shall be governed by and construed in accordance
with the law of said State.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">THE COMPANY HEREBY IRREVOCABLY
SUBMITS TO THE JURISDICTION OF ANY NEW YORK STATE COURT SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK OR ANY FEDERAL
COURT SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF
OR RELATING TO THIS INDENTURE AND THE NOTES, AND IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND
UNCONDITIONALLY, JURISDICTION OF THE AFORESAID COURTS.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><A NAME="e25030a_114"></A>Section
15.13 <U>Certain Tax Information</U>. In order to comply with applicable tax laws, rules and regulations (inclusive of directives,
guidelines and interpretations promulgated by competent authorities) in effect from time to time (&ldquo;Applicable Tax Law&rdquo;)
that a foreign financial institution, or issuer, trustee, paying agent, holder or other institution is or has agreed to be subject
to related to the Indenture, the Company agrees (i) to provide to the Trustee sufficient information about Holders or other applicable
parties and/or transactions (including any modification to the terms of such transactions) that is reasonably requested by the
Trustee so the Trustee can determine whether it has tax related obligations under Applicable Tax Law and (ii) that the Trustee
shall be entitled to make any withholding or deduction from payments under the Indenture to the extent necessary to comply with
Applicable Tax Law for which the Trustee shall not have any liability other than any liability or losses as may be attributable
to the Trustee&rsquo;s negligence, bad faith or willful misconduct. The terms of this Section 15.13 shall survive the termination
of this Indenture.</FONT></P>


<!-- Field: Page; Sequence: 64; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->59<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">IN WITNESS WHEREOF, the parties
have caused this Indenture to be duly executed as of the date first written above.</FONT></P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">FRANKLIN RESOURCES, INC.,</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">as Issuer</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 4%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 46%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Matthew Nicholls</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Matthew Nicholls</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Executive Vice President and Chief Financial
    Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">THE BANK OF NEW YORK MELLON TRUST <BR>
COMPANY, N.A., as Trustee</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Valere Boyd</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name&nbsp;:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Valere Boyd</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Vice President</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt">[Signature
Page to Indenture]</FONT></P>


    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->60<!-- Field: /Sequence --></TD></TR></TABLE></DIV>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 24pt; text-align: center"><FONT STYLE="font-size: 10pt"></FONT></P>



<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>e25030_ex5-1.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>Exhibit
5.1 </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt"><B><IMG SRC="e25030_003.jpg" ALT="">&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0in; border-top-width: 0in; border-top-color: Black; border-bottom-width: 0in; border-bottom-color: Black">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0in; border-top-width: 0in; border-top-color: Black; border-bottom-width: 0in; border-bottom-color: Black"><FONT STYLE="font-size: 10pt">February 5,
2025</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">Franklin Resources,
Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">One Franklin Parkway</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in; border-left-width: 0in; border-left-color: Black"><FONT STYLE="font-size: 10pt">San
Mateo, California 94403</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in; border-left-width: 0in; border-left-color: Black">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in; border-top-width: 0in; border-top-color: Black; border-bottom-width: 0in; border-bottom-color: Black"><FONT STYLE="font-size: 10pt">Ladies
and Gentlemen:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in; border-top-width: 0in; border-top-color: Black; border-bottom-width: 0in; border-bottom-color: Black"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We have
acted as counsel to Franklin Resources, Inc., a Delaware corporation (the &ldquo;<I>Company</I>&rdquo;), in connection with the
registration by the Company under the Securities Act of 1933, as amended (the &ldquo;<I>Securities Act</I>&rdquo;), pursuant to
a Registration Statement on Form S-3 filed with the Securities and Exchange Commission (the &ldquo;<I>Commission</I>&rdquo;) on
or about the date hereof (such registration statement is herein referred to as the &ldquo;<I>Registration Statement</I>&rdquo;),
of an indeterminate amount of one or more of the following securities (collectively, the &ldquo;<I>Securities</I>&rdquo;), which
the Company may issue from time to time under the Registration Statement: (i) shares of the Company&rsquo;s common stock, par
value $0.10 per share (the &ldquo;<I>Common Stock</I>&rdquo;), which may include shares of Common Stock issuable upon the exercise,
conversion or exchange of the other Securities included in the Registration Statement, (ii) shares of the Company&rsquo;s preferred
stock, par value $1.00 per share (the &ldquo;<I>Preferred Stock</I>&rdquo;), which may include shares of Preferred Stock issuable
upon the exercise, conversion or exchange of other Securities included in the Registration Statement (each as defined herein)
included in the Registration Statement, (iii) debt securities (the &ldquo;<I>Debt Securities</I>&rdquo;), the terms of which will
be determined prior to the issuance thereof, (iv) warrants (the &ldquo;<I>Warrants</I>&rdquo;) to purchase Common Stock, Preferred
Stock or Debt Securities, the terms of which will be determined by the board of directors of the Company prior to the issuance
thereof, (v) depositary shares, representing a fractional interest in shares of Preferred Stock and evidenced by a depositary
receipt (the &ldquo;<I>Depositary Shares</I>&rdquo;), (vi) units comprised of one or more of foregoing securities (the &ldquo;<I>Units</I>&rdquo;)
and (vii) stock purchase contracts, pursuant to which the holder may purchase from the Company a specified number of shares of
Common Stock or Preferred Stock or a specified number of Debt Securities at a future date (the &ldquo;<I>Stock Purchase Contracts</I>&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We have
reviewed the Indenture, dated as of October 6, 2020, between the Company and The Bank of New York Mellon Trust Company, N.A.,
as trustee (the &ldquo;<I>Indenture</I>&rdquo;), to be filed as Exhibit 4.3 to the Registration Statement, and such corporate
records, certificates and other documents, and such questions of law, as we have considered necessary or appropriate for the purposes
of this opinion. We have assumed that all signatures are genuine, that all documents submitted to us as originals are authentic
and that all copies of documents submitted to us conform to the originals.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left"><IMG SRC="e25030_002.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">Franklin Resources,
Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">February 5,
2025</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">Page 2</FONT></P>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We have
assumed further that any Securities that are issued and delivered, and the issuance thereof, will comply with all requirements
and restrictions, if any, applicable to the Company, whether imposed by any agreement or instrument to which the Company is a
party or by which it is bound or any court or governmental or regulatory body having jurisdiction over the Company or otherwise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We have
also assumed that the Securities will be offered and sold in compliance with applicable federal and state securities laws and
in the manner stated in the Registration Statement and the appropriate prospectus supplement. We have assumed further that any
supplements to the Indenture, any warrant agreement, any unit agreement or any stock purchase contract (collectively, together
with the Indenture, the &ldquo;<I>Documents</I>&rdquo;) will be governed by and construed in accordance with the laws of the State
of New York. With respect to any Document executed or to be executed by any party other than the Company, we have assumed that
such party has, or will have, duly authorized, executed and delivered the Documents to which it is a party and that each such
Document is, or will be, the valid and binding obligation of such party, enforceable against it in accordance with its terms.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We have
relied as to certain matters on information obtained from public officials, officers of the Company, and other sources believed
by us to be responsible.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Based
upon the foregoing, and subject to the qualifications set forth below, we are of the opinion that when, as and if:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(1)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">With
                                         respect to shares of the Common Stock: (i) the Registration Statement and any required
                                         post-effective amendments thereto have become effective under the Securities Act and
                                         all prospectus supplements required by applicable law have been delivered and filed as
                                         required by such laws, (ii) all necessary corporate action has been taken by the Company
                                         to authorize the issuance and sale of shares of Common Stock and fix or otherwise determine
                                         the consideration to be received for such shares and the terms of the offer and sale
                                         thereof, (iii) any legally required consents, approvals, authorizations and other orders
                                         of the Commission and other regulatory authorities have been obtained and (iv) the shares
                                         of Common Stock with consideration so fixed have been duly issued and delivered by the
                                         Company against payment therefor in accordance with such corporate action and applicable
                                         law and as contemplated in the Registration Statement and the related prospectus supplement
                                         setting forth the terms of such shares and the plan of distribution, then, upon the happening
                                         of such events, such shares of Common Stock (including any shares of Common Stock to
                                         be issued by the Company upon the conversion, exercise or exchange of other Securities
                                         issued by the Company pursuant to the Registration Statement) will be duly authorized
                                         and validly issued and will be fully paid and non-assessable.</FONT></TD></TR></TABLE>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="margin-top: 0; margin-bottom: 0"><IMG SRC="e25030_002.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">Franklin Resources,
Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">February 5,
2025</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">Page 3</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; border-left-width: 0in; border-left-color: Black"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(2)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">With
                                         respect to shares of any series of the Preferred Stock: (i) the Registration Statement
                                         and any required post-effective amendments thereto have become effective under the Securities
                                         Act and all prospectus supplements required by applicable law have been delivered and
                                         filed as required by such laws, (ii) all necessary corporate action has been taken by
                                         the Company to establish the rights, preferences and privileges of, and limitations on,
                                         any series of Preferred Stock and to authorize the issuance and sale of shares of such
                                         series of Preferred Stock and fix or otherwise determine the consideration to be received
                                         for such shares and the terms of the offer and sale thereof, (iii) any legally required
                                         consents, approvals, authorizations and other orders of the Commission and other regulatory
                                         authorities have been obtained, (iv) an appropriate certificate of designations with
                                         respect to such series of Preferred Stock has been duly filed with the Secretary of State
                                         of the State of Delaware in accordance with applicable law and (v) the shares of Preferred
                                         Stock with terms so fixed have been duly issued and delivered by the Company against
                                         payment therefor in accordance with such corporate action and applicable law and as contemplated
                                         in the Registration Statement and the related prospectus supplement setting forth the
                                         terms of such shares and plan of distribution, then, upon the happening of such events,
                                         such shares of Preferred Stock (including any shares of Preferred Stock to be issued
                                         by the Company upon the conversion, exercise or exchange of other Securities issued by
                                         the Company pursuant to the Registration Statement) will be duly authorized and validly
                                         issued and will be fully paid and non-assessable.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(3)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">With
                                         respect to the Debt Securities: (i) the Registration Statement and any required post-effective
                                         amendments thereto have become effective under the Securities Act and all prospectus
                                         supplements required by applicable law have been delivered and filed as required by such
                                         laws, (ii) any necessary supplements to the Indenture have been duly executed and delivered
                                         on behalf of the Company and the trustee, (iii) all necessary corporate action has been
                                         taken by the Company to authorize, execute and deliver any necessary indenture supplement
                                         and to authorize the form, terms, execution and delivery of any Debt Securities, (iv)
                                         any legally required consents, approvals, authorizations and other orders of the Commission
                                         and other regulatory authorities have been obtained, (v) any shares of Common Stock or
                                         Preferred Stock issuable upon the conversion of such Debt Securities, as applicable,
                                         have been duly and validly authorized and reserved for issuance and sale and (vi) such
                                         Debt Securities have been duly executed by the Company and authenticated by the trustee
                                         in accordance with the Indenture or any applicable indenture supplement, and have been
                                         duly issued and delivered against payment therefor in accordance with such corporate
                                         action and applicable law and as contemplated in the Registration Statement and the related
                                         prospectus supplement setting forth the terms of the Debt Securities and plan of distribution,
                                         then, upon the happening of such events, such Debt Securities (including any Debt Securities
                                         to be issued by the Company upon the conversion or exercise of other Securities issued
                                         by the Company pursuant to the Registration Statement) will constitute the valid and
                                         binding obligations of the Company, enforceable against the Company in accordance with
                                         their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization,
                                         moratorium and other laws of general applicability relating to or affecting creditors&rsquo;
                                         rights and to general equity principles.</FONT></TD></TR></TABLE>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="margin-top: 0; margin-bottom: 0"><IMG SRC="e25030_002.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">Franklin Resources,
Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">February 5,
2025</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">Page 4</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(4)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">With
                                         respect to the Warrants: (i) the Registration Statement and any required post-effective
                                         amendments thereto have become effective under the Securities Act and all prospectus
                                         supplements required by applicable law have been delivered and filed as required by such
                                         laws, (ii) all necessary corporate action has been taken by the Company to authorize,
                                         execute and deliver a warrant agreement and to authorize the form, terms, execution and
                                         delivery of any Warrants and to fix or otherwise determine the consideration to be received
                                         for such Warrants and the terms of the offer and sale thereof, (iii) any legally required
                                         consents, approvals, authorizations and other orders of the Commission and other regulatory
                                         authorities have been obtained, (iv) any shares of Common Stock or Preferred Stock or
                                         any Debt Securities purchasable upon the exercise of such Warrants, as applicable, have
                                         been duly and validly authorized and, in the case of shares of Common Stock or Preferred
                                         Stock, reserved for issuance and sale and (v) any warrant agreement with respect to such
                                         Warrants has been duly executed and delivered by the Company and the warrant agent, and
                                         such Warrants have been duly executed and delivered by the Company against payment therefor
                                         in accordance with any applicable warrant agreement, in accordance with such corporate
                                         action and applicable law and as contemplated in the Registration Statement and the related
                                         prospectus supplement setting forth the terms of such shares and plan of distribution,
                                         then, upon the happening of such events, such Warrants (including any Warrants to be
                                         issued by the Company upon the conversion or exercise of other Securities issued by the
                                         Company pursuant to the Registration Statement) will constitute the valid and binding
                                         obligations of the Company, enforceable against the Company in accordance with their
                                         terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium
                                         and other laws of general applicability relating to or affecting creditors&rsquo; rights
                                         and to general equity principles.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(5)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">With
                                         respect to the Depositary Shares: (i) the Registration Statement and any required post-effective
                                         amendments thereto have become effective under the Securities Act and all prospectus
                                         supplements required by applicable law have been delivered and filed as required by such
                                         laws, (ii) all necessary corporate action has been taken by the Company to authorize,
                                         execute and deliver a deposit agreement and to authorize the form, terms, execution and
                                         delivery of the Depositary Shares and to fix or otherwise determine the consideration
                                         to be received for the Depositary Shares and the terms of the offer and sale thereof,
                                         (iii) any legally required consents, approvals, authorizations and other orders of the
                                         Commission and any other regulatory authorities have been obtained, (iv) any shares of
                                         Preferred Stock underlying the Depositary Shares have been duly and validly authorized
                                         and reserved for issuance and sale, and (v) the depositary receipts evidencing the Depositary
                                         Shares have been duly executed and delivered by the depositary in accordance with the
                                         applicable deposit agreement, and in accordance with such corporate action and applicable
                                         law and as contemplated in the Registration Statement and the related prospectus supplement
                                         setting forth the terms of such Depositary Shares and the plan of distribution, then,
                                         upon the happening of such events, the Depositary Shares will be validly issued and will
                                         entitle the holders thereof to the rights specified in the deposit agreement, subject
                                         to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other
                                         laws of general applicability relating to or affecting creditors&rsquo; rights and to
                                         general equity principles.</FONT></TD></TR></TABLE>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="margin-top: 0; margin-bottom: 0"><IMG SRC="e25030_002.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">Franklin Resources,
Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">February 5,
2025</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">Page 5</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(6)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">With
                                         respect to the Units: (i) the Registration Statement and any required post-effective
                                         amendments thereto have become effective under the Securities Act and all prospectus
                                         supplements required by applicable law have been delivered and filed as required by such
                                         laws, (ii) all necessary corporate action has been taken by the Company to authorize,
                                         execute and deliver a unit agreement and to authorize the form, terms, execution and
                                         delivery of the Units and to fix or otherwise determine the consideration to be received
                                         for the Units and the terms of the offer and sale thereof, (iii) any legally required
                                         consents, approvals, authorizations and other orders of the Commission and any other
                                         regulatory authorities have been obtained, (iv) any shares of Common Stock or Preferred
                                         Stock, or any Debt Securities, Warrants, Depositary Shares or Stock Purchase Contracts
                                         to be issued pursuant to such Units have been duly and validly authorized and, in the
                                         case of shares of Common Stock or Preferred Stock, reserved for issuance and sale, and
                                         (v) any necessary unit agreement has been duly executed and delivered by the Company
                                         and the Units and the other registered securities underlying the Units have been duly
                                         executed and delivered by the Company against payment therefor in accordance with any
                                         applicable unit agreement, and in accordance with such corporate action and applicable
                                         law and as contemplated in the Registration Statement and the related prospectus supplement
                                         setting forth the terms of the Units and the plan of distribution, then, upon the happening
                                         of such events, the Units will constitute the valid and binding obligations of the Company,
                                         enforceable against the Company in accordance with their terms, subject to bankruptcy,
                                         insolvency, fraudulent transfer, reorganization, moratorium and other laws of general
                                         applicability relating to or affecting creditors&rsquo; rights and to general equity
                                         principles.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(7)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">With
                                         respect to the Stock Purchase Contracts, (i) the Registration Statement and any required
                                         post-effective amendments thereto have become effective under the Securities Act and
                                         all prospectus supplements required by applicable law have been delivered and filed as
                                         required by such laws; (ii) all necessary corporate action has been taken by the Company
                                         to authorize, execute and deliver the Stock Purchase Contracts and to authorize the form,
                                         terms, execution and delivery of the Stock Purchase Contracts and to fix or otherwise
                                         determine the consideration to be received for the Stock Purchase Contracts and the terms
                                         of the offer and sale thereof; (iii) any legally required consents, approvals, authorizations
                                         and other orders of the Commission and any other regulatory authorities have been obtained;
                                         (iv) any shares of Common Stock or Preferred Stock to be issued pursuant to such Stock
                                         Purchase Contracts have been duly and validly authorized and reserved for issuance and
                                         sale; and (v) the Stock Purchase Contracts have been duly executed and delivered by the
                                         Company against payment therefor in accordance with their terms, and in accordance with
                                         such corporate action and applicable law and as contemplated in the Registration Statement
                                         and the prospectus supplement setting forth the terms of the Stock Purchase Contracts
                                         and the plan of distribution, then, upon the happening of such events, the Stock Purchase
                                         Contracts will constitute the valid and binding obligations of the Company, enforceable
                                         against the Company in accordance with their terms, subject to bankruptcy, insolvency,
                                         fraudulent transfer, reorganization, moratorium and other laws of general applicability
                                         relating to or affecting creditors&rsquo; rights and to general equity principles.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><IMG SRC="e25030_002.jpg" ALT=""></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">Franklin Resources,
Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">February 5,
2025</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">Page 6</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We express
no opinion as to: (i) waivers of defenses, subrogation and related rights, rights to trial by jury, rights to object to venue,
or other rights or benefits bestowed by operation of law; (ii) releases or waivers of unmatured claims or rights; (iii) indemnification,
contribution, exculpation, or arbitration provisions, or provisions for the non-survival of representations, to the extent they
purport to indemnify any party against, or release or limit any party&rsquo;s liability for, its own breach or failure to comply
with statutory obligations, or to the extent such provisions are contrary to public policy; or (iv) provisions for liquidated
damages and penalties, penalty interest and interest on interest.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We are
members of the bar of the State of New York. We do not express any opinion herein on any laws other than the laws of the State
of New York and the Delaware General Corporation Law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We hereby
consent to the filing of this opinion as Exhibit 5.1 to the Registration Statement. We also hereby consent to the reference to
our firm under the heading &ldquo;Legal Matters&rdquo; in the prospectus constituting part of the Registration Statement. In giving
such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the
Securities Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 55%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 45%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Very
    truly yours,</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/ Covington &amp; Burling LLP</FONT></TD></TR>
</TABLE>





    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in"></P>



<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>4
<FILENAME>e25030_ex23-1.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 10pt 0"><B>Exhibit 23.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0; text-align: center"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0">We hereby consent to the incorporation by reference in this Registration
Statement on Form S-3 of Franklin Resources, Inc. of our report dated November 12, 2024 relating to the financial statements and the effectiveness
of internal control over financial reporting, which appears in Franklin Resources, Inc.'s Annual Report on Form 10-K for the year ended
September 30, 2024. We also consent to the reference to us under the heading &ldquo;Experts&rdquo; in such Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0">/s/ PricewaterhouseCoopers LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">San Francisco, California<BR>
February 5, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: rgb(226,224,224) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-25.1
<SEQUENCE>5
<FILENAME>e25030_ex25-1.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Exhibit
25.1</B></FONT></P>



<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt dashed; border-bottom: Black 1pt dashed; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0; font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0; font: 10pt Times New Roman, Times, Serif">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549<BR>
<BR>
FORM T-1</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><FONT STYLE="font-size: 10pt">STATEMENT
OF ELIGIBILITY<BR>
UNDER THE TRUST INDENTURE ACT OF 1939 OF A<BR>
CORPORATION DESIGNATED TO ACT AS TRUSTEE</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">CHECK IF AN APPLICATION
TO DETERMINE<BR>
ELIGIBILITY OF A TRUSTEE PURSUANT TO<BR>
SECTION 305(b)(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;|__|</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><U>___________________________</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><FONT STYLE="font-size: 10pt">THE BANK
OF NEW YORK MELLON<BR>
TRUST COMPANY, N.A.<BR>
(Exact name of trustee as specified in its charter)</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 80%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 60%; border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 5pt 5.4pt 12pt; text-align: left"><FONT STYLE="font-size: 10pt"><br>
    (Jurisdiction of incorporation<br>
    if not a U.S. national bank)</FONT></td>
    <TD STYLE="width: 20%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 5pt 5.4pt 12pt; text-align: left"><FONT STYLE="font-size: 10pt">95-3571558<br>
    (I.R.S. employer<br>
    identification no.)</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><FONT STYLE="font-size: 10pt">333 South
        Hope Street<br>
        Suite 2525</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><FONT STYLE="font-size: 10pt">Los Angeles,
        California</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><FONT STYLE="font-size: 10pt">(Address
        of principal executive offices)</FONT></P></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 10pt"><br>
    <br>
    90071<br>
    (Zip code)</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center"><FONT STYLE="font-size: 10pt"></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt">FRANKLIN
RESOURCES, INC.<BR>
(Exact name of obligor as specified in its charter)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 10pt"></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 80%; border-collapse: collapse; border: Black 1pt solid">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-bottom: 12pt; padding-top: 5pt">Delaware<BR>
(State or other jurisdiction of<BR>
incorporation or organization)</TD>
    <TD STYLE="width: 20%; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-bottom: 12pt; padding-top: 5pt">13-2670991<BR>
(I.R.S. employer<BR>
identification no.)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-right: Black 1pt solid; padding-left: 5.4pt; padding-bottom: 5pt">One Franklin Parkway<BR>
San Mateo, California<BR>
(Address of principal executive offices)</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt; padding-bottom: 5pt; text-align: left; vertical-align: middle">94403<BR>
(Zip code)</TD></TR>
</TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0 12pt; text-align: center">Debt Securities<BR>
(Title of the indenture securities)</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt dashed; border-bottom: Black 1pt dashed; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->



<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 10pt"><B>1.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>General information. Furnish
the following information as to the trustee:</B></FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>(a)</B></FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>Name
                                         and address of each examining or supervising authority to which it is subject.</B></FONT></TD></TR></TABLE>


<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 59%; border-top: black 1pt dashed; border-bottom: black 1pt dashed; font: 10pt Times New Roman, Times, Serif; padding-top: 6pt; padding-bottom: 6pt; text-align: center">Name</TD>
    <TD STYLE="width: 41%; border-top: black 1pt dashed; border-bottom: black 1pt dashed; font: 10pt Times New Roman, Times, Serif; padding-top: 6pt; padding-bottom: 6pt; text-align: center">Address</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Comptroller of the Currency<BR>
        United States Department of the Treasury</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.3in 0 31.7pt; text-indent: 0.5in">&nbsp;</P></TD>
    <TD STYLE="padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif">Washington, DC 20219</TD></TR>
<TR>
    <TD STYLE="padding-bottom: 12pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif">Federal Reserve Bank</TD>
    <TD STYLE="padding-bottom: 12pt; font: 10pt Arial Unicode MS; padding-left: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">San Francisco, CA 94105</FONT></TD></TR>
<TR>
    <TD STYLE="padding-bottom: 12pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif">Federal Deposit Insurance Corporation</TD>
    <TD STYLE="padding-bottom: 12pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif">Washington, DC 20429</TD></TR>
</TABLE>




<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>(b)</B></FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>Whether
                                         it is authorized to exercise corporate trust powers.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">Yes.</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>2.</B></FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>Affiliations
                                         with Obligor.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>If
the obligor is an affiliate of the trustee, describe each</B> <B>such affiliation. </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">None.</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>16.</B></FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>List
                                         of Exhibits. </B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Exhibits
identified in parentheses below, on file with the Commission, are incorporated herein by reference as an exhibit hereto, pursuant
to Rule 7a-29 under the Trust Indenture Act of 1939 (the &ldquo;Act&rdquo;).</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">A
                                         copy of the articles of association of The Bank of New York Mellon Trust Company, N.A.,
                                         formerly known as The Bank of New York Trust Company, N.A. (Exhibit 1 to Form T-1 filed
                                         with Registration Statement No. 333-121948 and Exhibit 1 to Form T-1 filed with Registration
                                         Statement No. 333-152875).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">A
                                         copy of certificate of authority of the trustee to commence business. (Exhibit 2 to Form
                                         T-1 filed with Registration Statement No.<BR>
                                         333-121948).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">A
                                         copy of the authorization of the trustee to exercise corporate trust powers (Exhibit
                                         3 to Form T-1 filed with Registration Statement No.<BR>
                                         333-152875).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">A
                                         copy of the existing by-laws of the trustee (Exhibit 4 to Form T-1 filed with Registration
                                         Statement No. 333-229762).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">5.</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">The
                                         consent of the trustee required by Section 321(b) of the Act (Exhibit 6 to Form T-1 filed
                                         with Registration Statement No. 333-152875).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">6.</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">A
                                         copy of the latest report of condition of the Trustee published pursuant to law or to
                                         the requirements of its supervising or examining authority.</FONT></TD></TR></TABLE>


<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->-</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><FONT STYLE="font-size: 10pt">SIGNATURE</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Pursuant
to the requirements of the Act, the trustee, The Bank of New York Mellon Trust Company, N.A., a banking association organized
and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its
behalf by the undersigned, thereunto duly authorized, all in the City of Pittsburgh, and State of Pennsylvania, on the 28th day
of January, 2025.</FONT></P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">THE&nbsp;BANK&nbsp;OF&nbsp;NEW&nbsp;YORK
    MELLON<BR>
 TRUST COMPANY, N.A.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">By:&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ </FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Nathaniel Henkle</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 4%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 43%"><FONT STYLE="font-size: 10pt"> Nathaniel Henkle&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Vice President</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->-</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>EXHIBIT 7</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt">Consolidated
Report of Condition of</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt">THE BANK OF NEW
YORK MELLON TRUST COMPANY, N.A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt">of 333 South
Hope Street, Suite 2525, Los Angeles, CA 90071</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><BR>
<BR></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">At the close
of business September 30, 2024, published in accordance with Federal regulatory authority instructions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt; text-align: center; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Dollar amounts<BR>
    in thousands</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-decoration: underline; padding-bottom: 0"><FONT STYLE="font-size: 10pt">ASSETS</FONT></TD><TD STYLE="font-size: 12pt; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 12pt; text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 12pt; text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 12pt; text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">Cash and balances due from depository institutions:</FONT></TD><TD STYLE="font-size: 12pt; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 12pt; text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 12pt; text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 12pt; text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 87%; text-align: left; padding-left: 17.3pt; padding-bottom: 0"><FONT STYLE="font-size: 10pt">Noninterest-bearing
    balances and currency and coin</FONT></TD><TD STYLE="width: 3%; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 8%; text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">26,798</FONT></TD><TD STYLE="width: 1%; text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 17.3pt; padding-bottom: 0"><FONT STYLE="font-size: 10pt">Interest-bearing balances</FONT></TD><TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">301,825</FONT></TD><TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">Securities:</FONT></TD><TD STYLE="font-size: 12pt; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 12pt; text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 12pt; text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 12pt; text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 17.3pt; padding-bottom: 0"><FONT STYLE="font-size: 10pt">Held-to-maturity securities</FONT></TD><TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">0</FONT></TD><TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 17.3pt; padding-bottom: 0"><FONT STYLE="font-size: 10pt">Available-for-sale debt
    securities</FONT></TD><TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">525</FONT></TD><TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 17.3pt; padding-bottom: 0"><FONT STYLE="font-size: 10pt">Equity securities with
    readily determinable fair values not held for trading</FONT></TD><TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">0</FONT></TD><TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">Federal funds sold and securities purchased
    under agreements to resell:</FONT></TD><TD STYLE="font-size: 12pt; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 12pt; text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 12pt; text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 12pt; text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 17.3pt; padding-bottom: 0"><FONT STYLE="font-size: 10pt">Federal funds sold in
    domestic offices</FONT></TD><TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">0</FONT></TD><TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 17.3pt; padding-bottom: 0"><FONT STYLE="font-size: 10pt">Securities purchased under
    agreements to resell</FONT></TD><TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">0</FONT></TD><TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">Loans and lease financing receivables:</FONT></TD><TD STYLE="font-size: 12pt; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 12pt; text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 12pt; text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 12pt; text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 17.3pt; padding-bottom: 0"><FONT STYLE="font-size: 10pt">Loans and leases held
    for sale</FONT></TD><TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">0</FONT></TD><TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 17.3pt; padding-bottom: 0"><FONT STYLE="font-size: 10pt">Loans and leases held
    for investment</FONT></TD><TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">0</FONT></TD><TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 17.3pt; padding-bottom: 0"><FONT STYLE="font-size: 10pt">LESS: Allowance for credit
    losses on loans and leases</FONT></TD><TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">0</FONT></TD><TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 17.3pt; padding-bottom: 0"><FONT STYLE="font-size: 10pt">Loans and leases held
    for investment, net of allowance</FONT></TD><TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">0</FONT></TD><TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0pt; padding-bottom: 0"><FONT STYLE="font-size: 10pt">Trading assets</FONT></TD><TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">0</FONT></TD><TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">Premises and fixed assets (including right-of-use
    assets)</FONT></TD><TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">10,600</FONT></TD><TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">Other real estate owned</FONT></TD><TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">0</FONT></TD><TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">Investments in unconsolidated subsidiaries and
    associated companies</FONT></TD><TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">0</FONT></TD><TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">Direct and indirect investments in real estate
    ventures</FONT></TD><TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">0</FONT></TD><TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">Intangible assets</FONT></TD><TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">856,313</FONT></TD><TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">Other assets</FONT></TD><TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">95,524</FONT></TD><TD STYLE="padding-bottom: 0; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 12pt; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 12pt; text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 12pt; text-align: right; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 12pt; text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">Total assets</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 10pt">1,291,585</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>

<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-decoration: underline"></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-decoration: underline"><FONT STYLE="font-size: 10pt">LIABILITIES</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt">Deposits:</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 87%; text-align: left; padding-left: 8.65pt"><FONT STYLE="font-size: 10pt">In domestic offices</FONT></TD><TD STYLE="width: 3%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 10pt">1,118</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 17.3pt"><FONT STYLE="font-size: 10pt">Noninterest-bearing</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1,118</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 17.3pt"><FONT STYLE="font-size: 10pt">Interest-bearing</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Federal funds purchased and securities sold under agreements to
    repurchase:</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 17.3pt"><FONT STYLE="font-size: 10pt">Federal funds purchased in domestic offices</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 17.3pt"><FONT STYLE="font-size: 10pt">Securities sold under agreements to repurchase</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Trading liabilities</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Other borrowed money:</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">(includes mortgage indebtedness and obligations under capitalized
    leases)</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Not applicable</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Not applicable</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Subordinated notes and debentures</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Other liabilities</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">257,847</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Total liabilities</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">258,965</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Not applicable</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-decoration: underline; text-align: left"><FONT STYLE="font-size: 10pt">EQUITY CAPITAL</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Perpetual preferred stock and related surplus</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Common stock</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Surplus (exclude all surplus related to preferred stock)</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">107,099</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Not available</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 8.65pt"><FONT STYLE="font-size: 10pt">Retained earnings</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">924,518</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 8.65pt"><FONT STYLE="font-size: 10pt">Accumulated other comprehensive income</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Other equity capital components</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Not available</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 8.65pt"><FONT STYLE="font-size: 10pt">Total bank equity capital</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1,032,620</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 8.65pt"><FONT STYLE="font-size: 10pt">Noncontrolling (minority) interests in consolidated
    subsidiaries</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Total equity capital</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">1,032,620</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">Total liabilities and equity capital</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 10pt">1,291,585</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>





<!-- Field: Page; Sequence: 1; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">I, Shana Quinn,
CFO of the above-named bank do hereby declare that the Reports of Condition and Income (including the supporting schedules) for
this report date have been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority
and are true to the best of my knowledge and belief.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 40%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif">Shana Quinn&nbsp;&nbsp;&nbsp;)</TD>
    <TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif">CFO</TD></TR>
</TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt">&nbsp;</P>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We, the undersigned
directors (trustees), attest to the correctness of the Report of Condition (including the supporting schedules) for this report
date and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance
with the instructions issued by the appropriate Federal regulatory authority and is true and correct.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 75%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 40%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kevin
    C. Weeks, President</FONT></TD>
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">)</FONT></TD>
    <TD STYLE="width: 20%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Cathleen Sokolowski,
    Managing Director</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Directors (Trustees)</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Jon M. Pocchia, Senior Director</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>





    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Gainsboro 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD></TR></TABLE></DIV>





</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>6
<FILENAME>e25030_ex107.htm
<TEXT>
<XBRL>
<?xml version='1.0' encoding='ASCII'?>
<html xmlns="http://www.w3.org/1999/xhtml" xmlns:xs="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:ix="http://www.xbrl.org/2013/inlineXBRL" xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2015-02-26" xmlns:ixt-sec="http://www.sec.gov/inlineXBRL/transformation/2015-08-31" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:ffd="http://xbrl.sec.gov/ffd/2024q2" xmlns:dei="http://xbrl.sec.gov/dei/2024" xmlns:ben="http://franklinresources.com/20250131">
<head>
     <title>EX-FILING FEES</title>
<meta http-equiv="Content-Type" content="text/html"/>
</head>
<!-- Field: Set; Name: xdx; ID: xdx_028_FFD%2D2024 -->
<!-- Field: Set; Name: xdx; ID: xdx_03F_ben_franklinresources.com_20250131 -->
<!-- Field: Set; Name: xdx; ID: xdx_04F_20250131_20250131 -->
<!-- Field: Set; Name: xdx; ID: xdx_059_edei%2D%2DEntityCentralIndexKey_0000038777 -->
<!-- Field: Set; Name: xdx; ID: xdx_06B_USD_1_iso4217%2D%2DUSD -->
<!-- Field: Set; Name: xdx; ID: xdx_062_Shares_2_xbrli%2D%2Dshares -->
<!-- Field: Set; Name: xdx; ID: xdx_06D_USDPShares_3_iso4217%2D%2DUSD_xbrli%2D%2Dshares -->
<!-- Field: Set; Name: xdx; ID: xdx_065_Ratio_4_xbrli%2D%2Dpure -->
<body style="font: 10pt Times New Roman, Times, Serif">
<div style="display: none">
<ix:header>
 <ix:hidden>
  <ix:nonNumeric contextRef="AsOf2025-01-31" id="Fact000003" name="dei:EntityCentralIndexKey">0000038777</ix:nonNumeric>
  <ix:nonNumeric contextRef="AsOf2025-01-31" id="xdx2ixbrl0010" name="ffd:FeeExhibitTp">EX-FILING FEES</ix:nonNumeric>
  <ix:nonFraction name="ffd:TtlOfferingAmt" contextRef="AsOf2025-01-31" id="xdx2ixbrl0041" decimals="0" unitRef="USD">0</ix:nonFraction>
  <ix:nonFraction name="ffd:TtlFeeAmt" contextRef="AsOf2025-01-31" id="xdx2ixbrl0042" decimals="INF" unitRef="USD">0</ix:nonFraction>
  <ix:nonFraction name="ffd:TtlPrevslyPdAmt" contextRef="AsOf2025-01-31" id="xdx2ixbrl0043" decimals="0" unitRef="USD">0</ix:nonFraction>
  <ix:nonFraction name="ffd:NetFeeAmt" contextRef="AsOf2025-01-31" id="xdx2ixbrl0044" decimals="INF" unitRef="USD">0</ix:nonFraction>
  </ix:hidden>
 <ix:references>
  <link:schemaRef xlink:href="https://xbrl.sec.gov/ffd/2024q2/ffd-2024q2.xsd" xlink:type="simple"/>
  </ix:references>
 <ix:resources>
    <xbrli:context id="AsOf2025-01-31">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000038777</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2025-01-31</xbrli:startDate>
        <xbrli:endDate>2025-01-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2025-01-312025-01-31_1">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000038777</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:typedMember dimension="ffd:OfferingAxis">
            <dei:lineNo>1</dei:lineNo>
          </xbrldi:typedMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2025-01-31</xbrli:startDate>
        <xbrli:endDate>2025-01-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2025-01-312025-01-31_2">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000038777</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:typedMember dimension="ffd:OfferingAxis">
            <dei:lineNo>2</dei:lineNo>
          </xbrldi:typedMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2025-01-31</xbrli:startDate>
        <xbrli:endDate>2025-01-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2025-01-312025-01-31_3">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000038777</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:typedMember dimension="ffd:OfferingAxis">
            <dei:lineNo>3</dei:lineNo>
          </xbrldi:typedMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2025-01-31</xbrli:startDate>
        <xbrli:endDate>2025-01-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2025-01-312025-01-31_4">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000038777</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:typedMember dimension="ffd:OfferingAxis">
            <dei:lineNo>4</dei:lineNo>
          </xbrldi:typedMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2025-01-31</xbrli:startDate>
        <xbrli:endDate>2025-01-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2025-01-312025-01-31_5">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000038777</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:typedMember dimension="ffd:OfferingAxis">
            <dei:lineNo>5</dei:lineNo>
          </xbrldi:typedMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2025-01-31</xbrli:startDate>
        <xbrli:endDate>2025-01-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2025-01-312025-01-31_6">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000038777</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:typedMember dimension="ffd:OfferingAxis">
            <dei:lineNo>6</dei:lineNo>
          </xbrldi:typedMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2025-01-31</xbrli:startDate>
        <xbrli:endDate>2025-01-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2025-01-312025-01-31_7">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000038777</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:typedMember dimension="ffd:OfferingAxis">
            <dei:lineNo>7</dei:lineNo>
          </xbrldi:typedMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2025-01-31</xbrli:startDate>
        <xbrli:endDate>2025-01-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:unit id="USD">
      <xbrli:measure>iso4217:USD</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="Shares">
      <xbrli:measure>xbrli:shares</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="USDPShares">
      <xbrli:divide>
        <xbrli:unitNumerator>
          <xbrli:measure>iso4217:USD</xbrli:measure>
        </xbrli:unitNumerator>
        <xbrli:unitDenominator>
          <xbrli:measure>xbrli:shares</xbrli:measure>
        </xbrli:unitDenominator>
      </xbrli:divide>
    </xbrli:unit>
    <xbrli:unit id="Ratio">
      <xbrli:measure>xbrli:pure</xbrli:measure>
    </xbrli:unit>
  <ix:relationship fromRefs="Fact000016" toRefs="Footnote000045"/>
  <ix:relationship fromRefs="Fact000020" toRefs="Footnote000045"/>
  <ix:relationship fromRefs="Fact000024" toRefs="Footnote000045"/>
  <ix:relationship fromRefs="Fact000028" toRefs="Footnote000045"/>
  <ix:relationship fromRefs="Fact000032" toRefs="Footnote000045"/>
  <ix:relationship fromRefs="Fact000036" toRefs="Footnote000045"/>
  <ix:relationship fromRefs="Fact000040" toRefs="Footnote000045"/>
  <ix:relationship fromRefs="xdx2ixbrl0042" toRefs="Footnote000045"/>
  <ix:relationship fromRefs="xdx2ixbrl0044" toRefs="Footnote000045"/>
  <ix:relationship fromRefs="Fact000026" toRefs="Footnote000053"/>
  <ix:relationship fromRefs="Fact000030" toRefs="Footnote000054"/>
  <ix:relationship fromRefs="Fact000034" toRefs="Footnote000055"/>
  <ix:relationship fromRefs="Fact000038" toRefs="Footnote000056"/>
  </ix:resources>
 </ix:header>
</div>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&#160;<span id="xdx_90C_effd--SubmissnTp_c20250131__20250131_zLjBEY3Lzhl7" style="display: none"><ix:nonNumeric contextRef="AsOf2025-01-31" id="Fact000009" name="ffd:SubmissnTp">S-3ASR</ix:nonNumeric></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_904_effd--FeeExhibitTp_dxL_c20250131__20250131_zOaLknJRRgm8" title="::XDX::EX-FILING FEES"><span style="-sec-ix-hidden: xdx2ixbrl0010">Exhibit
107</span></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Calculation
of Filing Fee Tables</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Form
<span id="xdx_900_effd--FormTp_c20250131__20250131_zIrprX2206D8"><ix:nonNumeric contextRef="AsOf2025-01-31" id="Fact000011" name="ffd:FormTp">S-3</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt">(Form Type)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_904_edei--EntityRegistrantName_c20250131__20250131_zjlgQCYDRYak"><ix:nonNumeric contextRef="AsOf2025-01-31" id="Fact000012" name="dei:EntityRegistrantName">Franklin
Resources, Inc.</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt">(Exact Name of Registrant
as Specified in its Charter)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Table
1: Newly Registered and Carry Forward Securities</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" id="xdx_304_101_z543mRb6KoCj" summary="xdx: Document - Offerings" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="border-top: black 1pt solid; padding: 1pt 2.25pt 1pt 2.5pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; border-left: black 1pt solid; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td id="xdx_48B_effd--OfferingSctyTp_zUQkmwJA87yc" style="border-top: black 1pt solid; padding: 1pt 2.25pt 1pt 2.5pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; border-left: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Security<br/>
    Type</b></span></td>
    <td id="xdx_488_effd--OfferingSctyTitl_zZS4gMJjlSGf" style="border-top: black 1pt solid; padding: 1pt 2.25pt 1pt 2.5pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; border-left: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Security<br/>

    Class<br/> Title</b></span></td>
    <td style="border-top: black 1pt solid; padding: 1pt 2.25pt 1pt 2.5pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; border-left: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fee<br/>
    Calculation<br/>
    or Carry<br/>
    Forward<br/>
    Rule</b></span></td>
    <td style="border-top: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2.25pt 1pt 2.5pt; vertical-align: bottom; white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Amount<br/>
    Registered</b></span></td>
    <td style="border-top: black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2.25pt 1pt 2.5pt; vertical-align: bottom; white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Proposed<br/>
    Maximum<br/>
    Offering<br/>
    Price Per<br/>
    Unit</b></span></td>
    <td style="border-top: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2.25pt; vertical-align: bottom; white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Maximum<br/>
    Aggregate<br/>
    Offering<br/>
    Price</b></span></td>
    <td style="border-top: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2.25pt 1pt 2.5pt; vertical-align: bottom; white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fee
    Rate</b></span></td>
    <td style="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2.5pt; vertical-align: bottom; white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Amount
    of<br/>
    Registration<br/>
    Fee</b></span></td>
    <td style="border-top: black 1pt solid; border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2.5pt 1pt 2.25pt; vertical-align: bottom; white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Carry<br/>
    Forward<br/>
    Form Type</b></span></td>
    <td style="border-top: black 1pt solid; border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2.5pt 1pt 2.25pt; vertical-align: bottom; white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Carry<br/>
    Forward<br/>
    File<br/>
    Number</b></span></td>
    <td style="border-top: black 1pt solid; border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2.5pt 1pt 2.25pt; vertical-align: bottom; white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Carry<br/>
    Forward<br/>
    Initial<br/>
    Effective<br/>
    Date</b></span></td>
    <td style="border-top: black 1pt solid; border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2.5pt 1pt 2.25pt; vertical-align: bottom; white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Filing
    Fee<br/>
    Previously<br/>
    Paid in<br/>
    Connection<br/>
    with<br/>
    Unsold<br/>
    Securities<br/>
    to be<br/>
    Carried<br/>
    Forward</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 1pt 2.25pt; text-align: center; white-space: nowrap; vertical-align: bottom"><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td colspan="13" style="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Newly
    Registered Securities</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-bottom: 1pt"><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_414_20250131__20250131__ffd--OfferingAxis__1_zS0Ett0yrWC9" style="font: 10pt Times New Roman, Times, Serif">
    <td id="xdx_983_effd--PrevslyPdFlg_dbF_c20250131__20250131__ffd--OfferingAxis__1_znX49oBGg84j" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2.25pt 1pt 2.5pt; vertical-align: top; text-align: center"><span style="font-size: 10pt"><ix:nonNumeric contextRef="From2025-01-312025-01-31_1" format="ixt:booleanfalse" id="Fact000015" name="ffd:PrevslyPdFlg">Fees
    to be Paid</ix:nonNumeric></span></td>
    <td style="border-top: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-right: 1.5pt; text-align: center; padding-bottom: 1pt"><span style="font-size: 10pt"><ix:nonNumeric contextRef="From2025-01-312025-01-31_1" id="Fact000013" name="ffd:OfferingSctyTp">Equity</ix:nonNumeric></span></td>
    <td style="border-top: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt"><ix:nonNumeric contextRef="From2025-01-312025-01-31_1" id="Fact000014" name="ffd:OfferingSctyTitl">Common
    Stock, par value $0.10 per share</ix:nonNumeric></span></td>
    <td style="border-top: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">Rule
    456(b) and <span id="xdx_90E_effd--Rule457rFlg_dbT_c20250131__20250131__ffd--OfferingAxis__1_fKDEp_zYLc9PO4xEr2"><ix:nonNumeric contextRef="From2025-01-312025-01-31_1" format="ixt:booleantrue" id="Fact000016" name="ffd:Rule457rFlg">Rule 457(r)</ix:nonNumeric></span><span style="font-family: Times New Roman, Times, Serif"><sup id="xdx_F25_zR1jsd4c2V37">(1)</sup></span></span></td>
    <td style="border-top: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">(2)</span></td>
    <td style="border-top: black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">(2)</span></td>
    <td style="border-top: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 1.75pt; text-align: center"><span style="font-size: 10pt">(2)</span></td>
    <td style="border-top: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; text-align: center"><span style="font-size: 10pt">(1)</span></td>
    <td style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2pt; text-align: center"><span style="font-size: 10pt">(1)</span></td>
    <td style="border-top: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; border-right: black 1pt solid; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-top: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; border-right: black 1pt solid; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-top: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; border-right: black 1pt solid; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-top: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; border-right: black 1pt solid; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-bottom: 1pt"><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_41C_20250131__20250131__ffd--OfferingAxis__2_zpDkhaMCmKEl" style="font: 10pt Times New Roman, Times, Serif">
    <td id="xdx_980_effd--PrevslyPdFlg_dbF_c20250131__20250131__ffd--OfferingAxis__2_zGgEjxqX1Ui" style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2.25pt 1pt 2.5pt; vertical-align: top; text-align: center"><span style="font-size: 10pt"><ix:nonNumeric contextRef="From2025-01-312025-01-31_2" format="ixt:booleanfalse" id="Fact000019" name="ffd:PrevslyPdFlg">Fees
    to be Paid</ix:nonNumeric></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; text-align: center; padding-bottom: 1pt"><span style="font-size: 10pt"><ix:nonNumeric contextRef="From2025-01-312025-01-31_2" id="Fact000017" name="ffd:OfferingSctyTp">Equity</ix:nonNumeric></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt"><ix:nonNumeric contextRef="From2025-01-312025-01-31_2" id="Fact000018" name="ffd:OfferingSctyTitl">Preferred
    Stock, par value $1.00 per share</ix:nonNumeric></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">Rule
    456(b) and <span id="xdx_907_effd--Rule457rFlg_dbT_c20250131__20250131__ffd--OfferingAxis__2_fKDEp_zltccoajC1Wf"><ix:nonNumeric contextRef="From2025-01-312025-01-31_2" format="ixt:booleantrue" id="Fact000020" name="ffd:Rule457rFlg">Rule 457(r)</ix:nonNumeric></span><span style="font-family: Times New Roman, Times, Serif"><sup id="xdx_F23_z6iQeczsimqk">(1)</sup></span></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">(2)</span></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">(2)</span></td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 1.75pt; text-align: center"><span style="font-size: 10pt">(2)</span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">(1)</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2pt; text-align: center"><span style="font-size: 10pt">(1)</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: top; padding-top: 1pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: top; padding-top: 1pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: top; padding-top: 1pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-bottom: 1pt"><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_418_20250131__20250131__ffd--OfferingAxis__3_zdZ58kgBOX4h" style="font: 10pt Times New Roman, Times, Serif">
    <td id="xdx_989_effd--PrevslyPdFlg_dbF_c20250131__20250131__ffd--OfferingAxis__3_zyzt3qlyZh6a" style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2.25pt 1pt 2.5pt; vertical-align: top; text-align: center"><span style="font-size: 10pt"><ix:nonNumeric contextRef="From2025-01-312025-01-31_3" format="ixt:booleanfalse" id="Fact000023" name="ffd:PrevslyPdFlg">Fees
    to be Paid</ix:nonNumeric></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; text-align: center; padding-bottom: 1pt"><span style="font-size: 10pt"><ix:nonNumeric contextRef="From2025-01-312025-01-31_3" id="Fact000021" name="ffd:OfferingSctyTp">Debt</ix:nonNumeric></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt"><ix:nonNumeric contextRef="From2025-01-312025-01-31_3" id="Fact000022" name="ffd:OfferingSctyTitl">Debt
    Securities</ix:nonNumeric></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">Rule
    456(b) and <span id="xdx_90B_effd--Rule457rFlg_dbT_c20250131__20250131__ffd--OfferingAxis__3_fKDEp_z4XAbc6Zpnr1"><ix:nonNumeric contextRef="From2025-01-312025-01-31_3" format="ixt:booleantrue" id="Fact000024" name="ffd:Rule457rFlg">Rule 457(r)</ix:nonNumeric></span><span style="font-family: Times New Roman, Times, Serif"><sup id="xdx_F29_zeTGxxRQOKD9">(1)</sup></span></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">(2)</span></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">(2)</span></td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 1.75pt; text-align: center"><span style="font-size: 10pt">(2)</span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">(1)</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2pt; text-align: center"><span style="font-size: 10pt">(1)</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: top; padding-top: 1pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: top; padding-top: 1pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: top; padding-top: 1pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-bottom: 1pt"><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_41E_20250131__20250131__ffd--OfferingAxis__4_zMIyuA1sz5J6" style="font: 10pt Times New Roman, Times, Serif">
    <td id="xdx_986_effd--PrevslyPdFlg_dbF_c20250131__20250131__ffd--OfferingAxis__4_zlLcjXnJ4gBj" style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2.25pt 1pt 2.5pt; vertical-align: top; text-align: center"><span style="font-size: 10pt"><ix:nonNumeric contextRef="From2025-01-312025-01-31_4" format="ixt:booleanfalse" id="Fact000027" name="ffd:PrevslyPdFlg">Fees
    to be Paid</ix:nonNumeric></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; text-align: center; padding-bottom: 1pt"><span style="font-size: 10pt"><ix:nonNumeric contextRef="From2025-01-312025-01-31_4" id="Fact000025" name="ffd:OfferingSctyTp">Other</ix:nonNumeric></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt"><ix:nonNumeric contextRef="From2025-01-312025-01-31_4" id="Fact000026" name="ffd:OfferingSctyTitl">Warrants<span style="font-family: Times New Roman, Times, Serif"><sup id="xdx_F20_zIKyQbcojgFd">(3)</sup></span></ix:nonNumeric></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">Rule
    456(b) and <span id="xdx_905_effd--Rule457rFlg_dbT_c20250131__20250131__ffd--OfferingAxis__4_fKDEp_z1sZs3MDakpl"><ix:nonNumeric contextRef="From2025-01-312025-01-31_4" format="ixt:booleantrue" id="Fact000028" name="ffd:Rule457rFlg">Rule 457(r)</ix:nonNumeric></span><span style="font-family: Times New Roman, Times, Serif"><sup id="xdx_F24_zNm9H3aIGFof">(1)</sup></span></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">(2)</span></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">(2)</span></td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 1.75pt; text-align: center"><span style="font-size: 10pt">(2)</span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">(1)</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2pt; text-align: center"><span style="font-size: 10pt">(1)</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: top; padding-top: 1pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: top; padding-top: 1pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: top; padding-top: 1pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-bottom: 1pt"><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_410_20250131__20250131__ffd--OfferingAxis__5_zr1rDm6Y0iIg" style="font: 10pt Times New Roman, Times, Serif">
    <td id="xdx_980_effd--PrevslyPdFlg_dbF_c20250131__20250131__ffd--OfferingAxis__5_z6fr5kCtMnNk" style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2.25pt 1pt 2.5pt; vertical-align: top; text-align: center"><span style="font-size: 10pt"><ix:nonNumeric contextRef="From2025-01-312025-01-31_5" format="ixt:booleanfalse" id="Fact000031" name="ffd:PrevslyPdFlg">Fees
    to be Paid</ix:nonNumeric></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; text-align: center; padding-bottom: 1pt"><span style="font-size: 10pt"><ix:nonNumeric contextRef="From2025-01-312025-01-31_5" id="Fact000029" name="ffd:OfferingSctyTp">Other</ix:nonNumeric></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt"><ix:nonNumeric contextRef="From2025-01-312025-01-31_5" id="Fact000030" name="ffd:OfferingSctyTitl">Depositary
    Shares<span style="font-family: Times New Roman, Times, Serif"><sup id="xdx_F26_zzRwQjuxyehl">(4)</sup></span></ix:nonNumeric></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">Rule
    456(b) and <span id="xdx_901_effd--Rule457rFlg_dbT_c20250131__20250131__ffd--OfferingAxis__5_fKDEp_zwbT2Wo9VaG1"><ix:nonNumeric contextRef="From2025-01-312025-01-31_5" format="ixt:booleantrue" id="Fact000032" name="ffd:Rule457rFlg">Rule 457(r)</ix:nonNumeric></span><span style="font-family: Times New Roman, Times, Serif"><sup id="xdx_F23_zjRwZkTcmY29">(1)</sup></span></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">(2)</span></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">(2)</span></td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 1.75pt; text-align: center"><span style="font-size: 10pt">(2)</span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">(1)</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2pt; text-align: center"><span style="font-size: 10pt">(1)</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: top; padding-top: 1pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: top; padding-top: 1pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: top; padding-top: 1pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-bottom: 1pt"><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_410_20250131__20250131__ffd--OfferingAxis__6_zKsOoHwcdvrj" style="font: 10pt Times New Roman, Times, Serif">
    <td id="xdx_981_effd--PrevslyPdFlg_dbF_c20250131__20250131__ffd--OfferingAxis__6_zNYOM8mEQvm" style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2.25pt 1pt 2.5pt; vertical-align: top; text-align: center"><span style="font-size: 10pt"><ix:nonNumeric contextRef="From2025-01-312025-01-31_6" format="ixt:booleanfalse" id="Fact000035" name="ffd:PrevslyPdFlg">Fees
    to be Paid</ix:nonNumeric></span></td><td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; text-align: center; padding-bottom: 1pt"><span style="font-size: 10pt"><ix:nonNumeric contextRef="From2025-01-312025-01-31_6" id="Fact000033" name="ffd:OfferingSctyTp">Other</ix:nonNumeric></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt"><ix:nonNumeric contextRef="From2025-01-312025-01-31_6" id="Fact000034" name="ffd:OfferingSctyTitl">Units<span style="font-family: Times New Roman, Times, Serif"><sup id="xdx_F22_zp9q0FXialnd">(5)</sup></span></ix:nonNumeric></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">Rule
    456(b) and <span id="xdx_90D_effd--Rule457rFlg_dbT_c20250131__20250131__ffd--OfferingAxis__6_fKDEp_zcBzSDtKV4n5"><ix:nonNumeric contextRef="From2025-01-312025-01-31_6" format="ixt:booleantrue" id="Fact000036" name="ffd:Rule457rFlg">Rule 457(r)</ix:nonNumeric></span><span style="font-family: Times New Roman, Times, Serif"><sup id="xdx_F25_zpXFB2vkTb16">(1)</sup></span></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">(2)</span></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">(2)</span></td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 1.75pt; text-align: center"><span style="font-size: 10pt">(2)</span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">(1)</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2pt; text-align: center"><span style="font-size: 10pt">(1)</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: top; padding-top: 1pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: top; padding-top: 1pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: top; padding-top: 1pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-bottom: 1pt"><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_418_20250131__20250131__ffd--OfferingAxis__7_zMdaGWvyaqZb" style="font: 10pt Times New Roman, Times, Serif">
<td id="xdx_98F_effd--PrevslyPdFlg_dbF_c20250131__20250131__ffd--OfferingAxis__7_z11GQ6i3Re0h" style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2.25pt 1pt 2.5pt; vertical-align: top; text-align: center"><span style="font-size: 10pt"><ix:nonNumeric contextRef="From2025-01-312025-01-31_7" format="ixt:booleanfalse" id="Fact000039" name="ffd:PrevslyPdFlg">Fees
    to be Paid</ix:nonNumeric></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; text-align: center; padding-bottom: 1pt"><span style="font-size: 10pt"><ix:nonNumeric contextRef="From2025-01-312025-01-31_7" id="Fact000037" name="ffd:OfferingSctyTp">Other</ix:nonNumeric></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt"><ix:nonNumeric contextRef="From2025-01-312025-01-31_7" id="Fact000038" name="ffd:OfferingSctyTitl">Stock
    Purchase Contracts<span style="font-family: Times New Roman, Times, Serif"><sup id="xdx_F21_z7AFkw3rHrUl">(6)</sup></span></ix:nonNumeric></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">Rule
    456(b) and <span id="xdx_900_effd--Rule457rFlg_dbT_c20250131__20250131__ffd--OfferingAxis__7_fKDEp_zhjRO9IRY0Fc"><ix:nonNumeric contextRef="From2025-01-312025-01-31_7" format="ixt:booleantrue" id="Fact000040" name="ffd:Rule457rFlg">Rule 457(r)</ix:nonNumeric></span><span style="font-family: Times New Roman, Times, Serif"><sup id="xdx_F26_zXb0iVEwUYC8">(1)</sup></span></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">(2)</span></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">(2)</span></td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 1.75pt; text-align: center"><span style="font-size: 10pt">(2)</span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">(1)</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2pt; text-align: center"><span style="font-size: 10pt">(1)</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: top; padding-top: 1pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: top; padding-top: 1pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: top; padding-top: 1pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-bottom: 1pt"><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2.25pt 1pt 2.5pt; text-align: center"><span style="font-size: 10pt">Fees
    Previously Paid</span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-right: 1.5pt; text-align: center; padding-bottom: 1pt"><span style="font-size: 10pt">N/A</span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">N/A</span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">N/A</span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">N/A</span></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">N/A</span></td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 1.75pt; text-align: center"><span style="font-size: 10pt">N/A</span></td>
    <td style="border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2pt; text-align: center"><span style="font-size: 10pt">N/A</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-bottom: 1pt"><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td colspan="13" style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Carry
    Forward Securities</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-bottom: 1pt"><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="border-left: black 1pt solid; padding: 1pt 2.25pt 1pt 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Carry
    Forward Securities</span></td>
    <td style="border-bottom: black 1pt solid; padding-top: 1pt; font: 10pt Times New Roman, Times, Serif; border-left: black 1pt solid; padding-right: 1.5pt; text-align: center; padding-bottom: 1pt"><span style="font-size: 10pt">N/A</span></td>
    <td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">N/A</span></td>
    <td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">N/A</span></td>
    <td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">N/A</span></td>
    <td style="border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 2pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 1.75pt; text-align: center"><span style="font-size: 10pt">N/A</span></td>
    <td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; text-align: center"><span style="font-size: 10pt">N/A</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; text-align: center"><span style="font-size: 10pt">N/A</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; text-align: center"><span style="font-size: 10pt">N/A</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; text-align: center"><span style="font-size: 10pt">N/A</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-bottom: 1pt"><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="border-top: black 1pt solid; padding: 1pt 2.25pt 1pt 2.5pt; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td colspan="4" style="border-bottom: black 1pt solid; padding-top: 1pt; font: 10pt Times New Roman, Times, Serif; border-left: black 1pt solid; padding-right: 1.5pt; text-align: center; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total
    Offering Amounts</b></span></td>
    <td style="border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; vertical-align: top; text-align: center; padding-bottom: 1pt"><span style="font-size: 10pt">&#160;</span></td>
    <td id="xdx_98B_effd--TtlOfferingAmt_dxH_c20250131__20250131_zV7jaLqpYk25" title="::XDX::0" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 1.75pt; text-align: center"><span style="font-size: 10pt">N/A</span></td>
    <td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td id="xdx_985_effd--TtlFeeAmt_pid_dxH_c20250131__20250131_fKDEp_zz2pRUvDmNwa" title="::XDX::0" style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">(1)</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-bottom: 1pt"><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="border-bottom: black 1pt solid; padding: 1pt 2.25pt 1pt 2.5pt; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-left: black 1pt solid; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td colspan="4" style="border-bottom: black 1pt solid; padding-top: 1pt; font: 10pt Times New Roman, Times, Serif; border-left: black 1pt solid; padding-right: 1.5pt; text-align: center; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total
    Fees Previously Paid</b></span></td>
    <td style="border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; vertical-align: top; text-align: center; padding-bottom: 1pt"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 1.75pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td id="xdx_984_effd--TtlPrevslyPdAmt_dxH_c20250131__20250131_zBHwcSaEczu6" title="::XDX::0" style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">N/A</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-bottom: 1pt"><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="border-bottom: black 1pt solid; padding: 1pt 2.25pt 1pt 2.5pt; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-left: black 1pt solid; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td colspan="4" style="border-bottom: black 1pt solid; padding-top: 1pt; font: 10pt Times New Roman, Times, Serif; border-left: black 1pt solid; padding-right: 1.5pt; text-align: center; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total
    Fee Offsets</b></span></td>
    <td style="border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; vertical-align: top; text-align: center; padding-bottom: 1pt"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 1.75pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">N/A</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-bottom: 1pt"><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="border-bottom: black 1pt solid; padding: 1pt 2.25pt 1pt 2.5pt; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-left: black 1pt solid; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td colspan="4" style="border-bottom: black 1pt solid; padding-top: 1pt; font: 10pt Times New Roman, Times, Serif; border-left: black 1pt solid; padding-right: 1.5pt; text-align: center; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Net
    Fee Due</b></span></td>
    <td style="border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; vertical-align: top; text-align: center; padding-bottom: 1pt"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.5pt 1pt 1.75pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-top: 1pt; padding-bottom: 1pt; padding-left: 2pt; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td id="xdx_98B_effd--NetFeeAmt_pid_dxH_c20250131__20250131_fKDEp_zE5tCUMlTJR3" title="::XDX::0" style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 2pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">(1)</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 1.25pt 1pt 1pt; vertical-align: top; text-align: center"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-bottom: 1pt"><span style="font-size: 10pt">&#160;</span></td></tr>
  </table>
<!-- Field: Page; Sequence: 1 -->
    <div style="border-bottom: Gainsboro 2pt solid; margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr><td style="text-align: center; width: 100%">&#160;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&#160;</div>
    <!-- Field: /Page -->


<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 3%"><span id="xdx_F03_zxMix5XqXMik" style="font-size: 10pt">(1)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 97%"><span id="xdx_F19_z5y2FBXqNvu4" style="font-size: 10pt"><ix:footnote id="Footnote000045" xml:lang="en-US">In accordance with Rules 456(b) and
    457(r) under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), Franklin Resources, Inc. (the &#8220;Registrant&#8221;)
    is deferring payment of all of the registration fees associated with the registration of the offer and sale of the aforementioned
    securities. Registration fees will be paid subsequently on a &#8220;pay as you go&#8221; basis. The Registrant will calculate the
    registration fee applicable to an offering of securities pursuant to this Registration Statement based on the fee payment rate in
    effect on the date of the fee payment.</ix:footnote></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 3%"><span style="font-size: 10pt">(2)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 97%"><span style="font-size: 10pt"><span id="xdx_902_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__1_zzgdmIYA9Kx7"><ix:nonNumeric contextRef="From2025-01-312025-01-31_1" escape="true" id="Fact000046" name="ffd:OfferingNote"> <span id="xdx_903_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__2_z8MkzKh5D5q5"><ix:nonNumeric contextRef="From2025-01-312025-01-31_2" escape="true" id="Fact000047" name="ffd:OfferingNote"> <span id="xdx_90D_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__3_zNWwIjvXghA9"><ix:nonNumeric contextRef="From2025-01-312025-01-31_3" escape="true" id="Fact000048" name="ffd:OfferingNote"> <span id="xdx_905_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__4_zqBVaPXGx6Mj"><ix:nonNumeric contextRef="From2025-01-312025-01-31_4" escape="true" id="Fact000049" name="ffd:OfferingNote"> <span id="xdx_909_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__5_zYzfjEEBMRA6"><ix:nonNumeric contextRef="From2025-01-312025-01-31_5" escape="true" id="Fact000050" name="ffd:OfferingNote"> <span id="xdx_90B_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__6_zy7htGCkyXW4"><ix:nonNumeric contextRef="From2025-01-312025-01-31_6" escape="true" id="Fact000051" name="ffd:OfferingNote"> <span id="xdx_901_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__7_zI7aGnWUJIR6"><ix:nonNumeric contextRef="From2025-01-312025-01-31_7" escape="true" id="Fact000052" name="ffd:OfferingNote">An indeterminate number and aggregate
    initial offering price of securities of each identified class are being registered as may from time to time be offered at indeterminate
    prices, including an indeterminate number or amount of securities that may be issued upon the exercise, settlement, exchange or conversion
    of securities offered hereunder. Separate consideration may or may not be received for securities that are issuable on exercise,
    settlement, exchange or conversion of other securities.</ix:nonNumeric></span></ix:nonNumeric></span></ix:nonNumeric></span></ix:nonNumeric></span></ix:nonNumeric></span></ix:nonNumeric></span></ix:nonNumeric></span></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F08_zmzIOSn1rZUf" style="font-size: 10pt">(3)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F1E_zhLmUoHxvdJh" style="font-size: 10pt"><ix:footnote id="Footnote000053" xml:lang="en-US">Includes warrants to purchase common stock, preferred
    stock or debt securities.</ix:footnote></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 3%"><span id="xdx_F06_zcBFRNOsTYfe" style="font-size: 10pt">(4)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 97%"><span id="xdx_F15_zhWhXdBrMlQ5" style="font-size: 10pt"><ix:footnote id="Footnote000054" xml:lang="en-US">Each depositary share will be issued
    under a deposit agreement and will represent a fractional share or multiple shares of preferred stock.</ix:footnote></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 3%"><span id="xdx_F0A_zetn62V28U02" style="font-size: 10pt">(5)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 97%"><span id="xdx_F1C_znldHAXuUXZg" style="font-size: 10pt"><ix:footnote id="Footnote000055" xml:lang="en-US">Each unit will represent an interest
    in two or more securities registered under this Registration Statement, which may or may not be separable from one another.</ix:footnote></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 3%"><span id="xdx_F00_zvXCsgBRaQP3" style="font-size: 10pt">(6)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 97%"><span id="xdx_F15_zZNRf2VfXlN2" style="font-size: 10pt"><ix:footnote id="Footnote000056" xml:lang="en-US">Purchase contracts may be issued separately or
    as purchase units.</ix:footnote></span></td></tr>
  </table>

<div style="border-bottom: Gainsboro 2pt solid; margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt"></div>

<!-- Field: Set; Name: xdx; ID: xdx_08B_extensions -->
<!-- eJxFjdEKgkAQRb/Afxj2OdQ1fPExqYgsQiR6XXKKJd2R2c3yk/rLViUaBobh3nOvEAuxpY1ukOGyKguosO0a5RBKvCGjuaJ35Lt9Bv6WeNfWsTJuen9gTp5Bz6RhkiovTNZeW6wziGW0lFGSgoyzpYTTQQSjnpO56RqN06oBZWo4MXWs0Ske5oRKvclQO0xVZ2SryWQgw3iWP5DEMoEj9epF/LBQFLkIFtMEYsv07Lxr/XZoRhLWDba+zs70f4MvAuRKhg== -->
</body>
</html>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>e25030_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 e25030_001.jpg
M_]C_X  02D9)1@ ! @  9 !D  #_[  11'5C:WD  0 $    /   _^X #D%D
M;V)E &3      ?_; (0 !@0$! 4$!@4%!@D&!08)"P@&!@@+# H*"PH*#! ,
M# P,# P0# X/$ \.#!,3%!03$QP;&QL<'Q\?'Q\?'Q\?'P$'!P<-# T8$! 8
M&A41%1H?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?
M'Q\?'Q\?'Q\?_\  $0@ ;@$W P$1  (1 0,1 ?_$ (H  0 #  ,! 0
M       %!@<#! @" 0$! 0$                   $"$  ! P,"!0($ @@"
M!@L    " 0,$ !$%$@8A,4$3!R(446%Q%3)"@9%28B,S%@BAL?%R0R0T.(*2
MLL+28W.SPT0U$0$! 0$! 0$              1$Q02%Q_]H # ,!  (1 Q$
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M0ZS.#MY;&J+4KX/-D-V90IT%X15;="0DZ4%PH% H% H% H% H% H% H% H%
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M6#D9J5&?DPX8JY*]L@$8-"BJ3FDR"Z"B<;4$3B?(L;+;3+<\'#Y%W'JG<8!
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M$-F?"7/@V2I)]@B%WD9X634-T(KW%.*45Z*V7E=MY7;$";MKM#AC;1(K3(B
MMHG!6U$> D*\%2B,S\<?\P?DC_TH?_MA07GRV8KXPW:*$BD.*EZD1>*79+G0
M0_B9;>#,,J+:V+<XI?\ ?HK.EVQF-EX';_DW9C:#&:@L+NK",W 9C/5U!LJ:
MA0N/#A:_QHB]>)=S8O=&[-T[AQ9:HF09QAH*JBD!"P2$V=N1 O!4H+MOF_\
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J0D_&>+3RF)DEF)C>/;V\^U&@--OK <Q:QS[CSABTH(J-:N!$B_*BO__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>e25030_002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 e25030_002.jpg
M_]C_X  02D9)1@ ! @  9 !D  #_[  11'5C:WD  0 $    /   _^X #D%D
M;V)E &3      ?_; (0 !@0$! 4$!@4%!@D&!08)"P@&!@@+# H*"PH*#! ,
M# P,# P0# X/$ \.#!,3%!03$QP;&QL<'Q\?'Q\?'Q\?'P$'!P<-# T8$! 8
M&A41%1H?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?
M'Q\?'Q\?'Q\?_\  $0@ $P!Q P$1  (1 0,1 ?_$ (    $$ P$
M      0#!0<(  (& 0$!                     !    ,&! (%" <'!0
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89G=R,'WF+]K[M][ 5H_Z_P#[+_S. __9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>9
<FILENAME>e25030_003.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 e25030_003.jpg
M_]C_X  02D9)1@ ! @  9 !D  #_[  11'5C:WD  0 $    /   _^X #D%D
M;V)E &3      ?_; (0 !@0$! 4$!@4%!@D&!08)"P@&!@@+# H*"PH*#! ,
M# P,# P0# X/$ \.#!,3%!03$QP;&QL<'Q\?'Q\?'Q\?'P$'!P<-# T8$! 8
M&A41%1H?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?
M'Q\?'Q\?'Q\?_\  $0@ 70*5 P$1  (1 0,1 ?_$ 'X  0 " P$! 0
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M 29D.**%)?;8$ET%7#$$5?RW*F!F145-4ZHOHN P& P& P& P& P& P& P&
MP& P& P& P& P& P& P& P& P& P& P& P& P& P& P& P& P& P& P& P&
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M]N]!W?CU9CBVVBHO]18'OR'_ /V'PG_X!K_ZS G?S8__ %Q2_P#Y@/\ Y5_
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M#M&1N0.RJJNF_<2#M_'I@3<!@1 N:AR<5>$Z.<\==T0705Y-$U75M%W=$_+
M-V]2[.. W-8.<WKOB"Z"NCIZZMHNY/7\,#&[R"A9EK#>LHK<Q%05C&^V+B*J
M:HFQ2W>BX$_ 8# 8'Y:L:+R5X1\EW7)>,T3O)N'\B,G'XD9"4FR,R=$#5H'#
M:5HB) +8HJ):+[O0-[\=>8/*G-.:L,%P5VDXDVV:3Y<TG1<$U35LVW'&V1-=
M1T5L07UU4DP*WS_XTYNO+Z;RAP)M9=]2@#4FM1$,G&VB,A, Z*>X7"!P$751
MTV]<#6N1><O,_-:.5Q6A\<3ZNSLVBBOSS5]4;!P5%Q15QB,#*JFJ(1N>W_'
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MOM!MV;6W-NX4V].B^F!!8\<< CA.!CCM<T%H*MV0A&:%) J6]1>T'WINZ^[
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70C-1WZ;AV^A8'7<!@,!@,!@,!@,#_]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>11
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.25.0.1</span><table class="report" border="0" cellspacing="2" id="idm46366949120512">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Submission<br></strong></div></th>
<th class="th"><div>Jan. 31, 2025</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_SubmissionLineItems', window );"><strong>Submission [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Central Index Key</a></td>
<td class="text">0000038777<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Registrant Name</a></td>
<td class="text">Franklin
Resources, Inc.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FormTp', window );">Form Type</a></td>
<td class="text">S-3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_SubmissnTp', window );">Submission Type</a></td>
<td class="text">S-3ASR<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeExhibitTp', window );">Fee Exhibit Type</a></td>
<td class="text">EX-FILING FEES<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FeeExhibitTp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeeExhibitTp</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:feeExhibitTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FormTp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FormTp</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_SubmissionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_SubmissionLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_SubmissnTp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_SubmissnTp</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>12
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.25.0.1</span><table class="report" border="0" cellspacing="2" id="idm46366947495328">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Offerings<br></strong></div></th>
<th class="th" colspan="2"><div>Jan. 31, 2025</div></th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=1', window );">Offering: 1</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457rFlg', window );">Rule 457(r)</a></td>
<td class="text">true<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Equity<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Common
    Stock, par value $0.10 per share<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text"> <span id="xdx_903_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__2_z8MkzKh5D5q5"> <span id="xdx_90D_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__3_zNWwIjvXghA9"> <span id="xdx_905_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__4_zqBVaPXGx6Mj"> <span id="xdx_909_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__5_zYzfjEEBMRA6"> <span id="xdx_90B_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__6_zy7htGCkyXW4"> <span id="xdx_901_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__7_zI7aGnWUJIR6">An indeterminate number and aggregate
    initial offering price of securities of each identified class are being registered as may from time to time be offered at indeterminate
    prices, including an indeterminate number or amount of securities that may be issued upon the exercise, settlement, exchange or conversion
    of securities offered hereunder. Separate consideration may or may not be received for securities that are issuable on exercise,
    settlement, exchange or conversion of other securities.</span></span></span></span></span></span><span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=2', window );">Offering: 2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457rFlg', window );">Rule 457(r)</a></td>
<td class="text">true<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Equity<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Preferred
    Stock, par value $1.00 per share<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text"> <span id="xdx_90D_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__3_zNWwIjvXghA9"> <span id="xdx_905_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__4_zqBVaPXGx6Mj"> <span id="xdx_909_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__5_zYzfjEEBMRA6"> <span id="xdx_90B_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__6_zy7htGCkyXW4"> <span id="xdx_901_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__7_zI7aGnWUJIR6">An indeterminate number and aggregate
    initial offering price of securities of each identified class are being registered as may from time to time be offered at indeterminate
    prices, including an indeterminate number or amount of securities that may be issued upon the exercise, settlement, exchange or conversion
    of securities offered hereunder. Separate consideration may or may not be received for securities that are issuable on exercise,
    settlement, exchange or conversion of other securities.</span></span></span></span></span><span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=3', window );">Offering: 3</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457rFlg', window );">Rule 457(r)</a></td>
<td class="text">true<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Debt<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Debt
    Securities<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text"> <span id="xdx_905_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__4_zqBVaPXGx6Mj"> <span id="xdx_909_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__5_zYzfjEEBMRA6"> <span id="xdx_90B_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__6_zy7htGCkyXW4"> <span id="xdx_901_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__7_zI7aGnWUJIR6">An indeterminate number and aggregate
    initial offering price of securities of each identified class are being registered as may from time to time be offered at indeterminate
    prices, including an indeterminate number or amount of securities that may be issued upon the exercise, settlement, exchange or conversion
    of securities offered hereunder. Separate consideration may or may not be received for securities that are issuable on exercise,
    settlement, exchange or conversion of other securities.</span></span></span></span><span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=4', window );">Offering: 4</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457rFlg', window );">Rule 457(r)</a></td>
<td class="text">true<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Other<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Warrants(3)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text"> <span id="xdx_909_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__5_zYzfjEEBMRA6"> <span id="xdx_90B_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__6_zy7htGCkyXW4"> <span id="xdx_901_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__7_zI7aGnWUJIR6">An indeterminate number and aggregate
    initial offering price of securities of each identified class are being registered as may from time to time be offered at indeterminate
    prices, including an indeterminate number or amount of securities that may be issued upon the exercise, settlement, exchange or conversion
    of securities offered hereunder. Separate consideration may or may not be received for securities that are issuable on exercise,
    settlement, exchange or conversion of other securities.</span></span></span><span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=5', window );">Offering: 5</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457rFlg', window );">Rule 457(r)</a></td>
<td class="text">true<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Other<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Depositary
    Shares(4)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text"> <span id="xdx_90B_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__6_zy7htGCkyXW4"> <span id="xdx_901_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__7_zI7aGnWUJIR6">An indeterminate number and aggregate
    initial offering price of securities of each identified class are being registered as may from time to time be offered at indeterminate
    prices, including an indeterminate number or amount of securities that may be issued upon the exercise, settlement, exchange or conversion
    of securities offered hereunder. Separate consideration may or may not be received for securities that are issuable on exercise,
    settlement, exchange or conversion of other securities.</span></span><span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=6', window );">Offering: 6</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457rFlg', window );">Rule 457(r)</a></td>
<td class="text">true<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Other<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Units(5)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[4]</sup></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text"> <span id="xdx_901_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__7_zI7aGnWUJIR6">An indeterminate number and aggregate
    initial offering price of securities of each identified class are being registered as may from time to time be offered at indeterminate
    prices, including an indeterminate number or amount of securities that may be issued upon the exercise, settlement, exchange or conversion
    of securities offered hereunder. Separate consideration may or may not be received for securities that are issuable on exercise,
    settlement, exchange or conversion of other securities.</span><span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=7', window );">Offering: 7</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457rFlg', window );">Rule 457(r)</a></td>
<td class="text">true<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Other<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Stock
    Purchase Contracts(6)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[5]</sup></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text">An indeterminate number and aggregate
    initial offering price of securities of each identified class are being registered as may from time to time be offered at indeterminate
    prices, including an indeterminate number or amount of securities that may be issued upon the exercise, settlement, exchange or conversion
    of securities offered hereunder. Separate consideration may or may not be received for securities that are issuable on exercise,
    settlement, exchange or conversion of other securities.<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">In accordance with Rules 456(b) and
    457(r) under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), Franklin Resources, Inc. (the &#8220;Registrant&#8221;)
    is deferring payment of all of the registration fees associated with the registration of the offer and sale of the aforementioned
    securities. Registration fees will be paid subsequently on a &#8220;pay as you go&#8221; basis. The Registrant will calculate the
    registration fee applicable to an offering of securities pursuant to this Registration Statement based on the fee payment rate in
    effect on the date of the fee payment.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Includes warrants to purchase common stock, preferred
    stock or debt securities.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Each depositary share will be issued
    under a deposit agreement and will represent a fractional share or multiple shares of preferred stock.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[4]</td>
<td style="vertical-align: top;" valign="top">Each unit will represent an interest
    in two or more securities registered under this Registration Statement, which may or may not be separable from one another.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[5]</td>
<td style="vertical-align: top;" valign="top">Purchase contracts may be issued separately or
    as purchase units.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingNote">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingNote</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingSctyTitl">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The title of the class of securities being registered (for each class being registered).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingSctyTitl</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingSctyTp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Type of securities: "Asset-backed Securities", "ADRs/ADSs", "Debt", "Debt Convertible into Equity", "Equity", "Face Amount Certificates", "Limited Partnership Interests", "Mortgage Backed Securities", "Non-Convertible Debt", "Unallocated (Universal) Shelf", "Exchange Traded Vehicle Securities", "Other"</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingSctyTp</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:securityTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingTable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingTable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_PrevslyPdFlg">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_PrevslyPdFlg</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_Rule457rFlg">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 457<br> -Subsection r<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_Rule457rFlg</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=3">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=3</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=4">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=4</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=5">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=5</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=6">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=6</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=7">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=7</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>13
<FILENAME>R3.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.25.0.1</span><table class="report" border="0" cellspacing="2" id="idm46366947572800">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Fees Summary<br></strong></div></th>
<th class="th" colspan="2">
<div>Jan. 31, 2025 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeesSummaryLineItems', window );"><strong>Fees Summary [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_TtlOfferingAmt', window );">Total Offering</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_TtlPrevslyPdAmt', window );">Previously Paid Amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_TtlFeeAmt', window );">Total Fee Amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_NetFeeAmt', window );">Net Fee</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">In accordance with Rules 456(b) and
    457(r) under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), Franklin Resources, Inc. (the &#8220;Registrant&#8221;)
    is deferring payment of all of the registration fees associated with the registration of the offer and sale of the aforementioned
    securities. Registration fees will be paid subsequently on a &#8220;pay as you go&#8221; basis. The Registrant will calculate the
    registration fee applicable to an offering of securities pursuant to this Registration Statement based on the fee payment rate in
    effect on the date of the fee payment.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FeesSummaryLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeesSummaryLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_NetFeeAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_NetFeeAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_TtlFeeAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_TtlFeeAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegative1TMonetary2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_TtlOfferingAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_TtlOfferingAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegative1TMonetary2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_TtlPrevslyPdAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_TtlPrevslyPdAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegative1TMonetary2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>14
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 Financial_Report.xlsx
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M?!^2!F.,6_0T7X\48JVFL:W&VC$,>8!8\PRA9CC?AT6:&C/5BZPYC0IO0=5
MY3_;U UH]@TT')$%7C&9MC:CY$X*/-S^[PVPPL2.X>V+OP%02P,$%     @
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M\69BNZA?V_F=RA4O%,G8$KJ;CL_ O\KZ39CZ0(O2O$RR$%J+W'Q=,PJSC"?
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M#(&W$4<P!: !0\*POP>/[J-@>T\%NS^?Z4]02P,$%     @ "XA%6I>*NQS
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M/;^\.K_1;6F=NU7M.3R2+<=%&)=X]0U02P,$%     @ "XA%6KMLZNRZ
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M    $               @ $     9&]C4')O<',O87!P+GAM;%!+ 0(4 Q0
M   (  N(15JEV^XE[0   "L"   1              "  :\   !D;V-0<F]P
M<R]C;W)E+GAM;%!+ 0(4 Q0    (  N(15J97)PC$ 8  )PG   3
M      "  <L!  !X;"]T:&5M92]T:&5M93$N>&UL4$L! A0#%     @ "XA%
M6ONFMX)+ @  . 8  !@              ("!# @  'AL+W=O<FMS:&5E=',O
M<VAE970Q+GAM;%!+ 0(4 Q0    (  N(15I44/Y"1P@  )LT   8
M      " @8T*  !X;"]W;W)K<VAE971S+W-H965T,BYX;6Q02P$"% ,4
M"  +B$5:L:PJMI@#   :"0  &               @($*$P  >&PO=V]R:W-H
M965T<R]S:&5E=#,N>&UL4$L! A0#%     @ "XA%6K+WPF_N @  B0X   T
M             ( !V!8  'AL+W-T>6QE<RYX;6Q02P$"% ,4    "  +B$5:
MEXJ[',     3 @  "P              @ 'Q&0  7W)E;',O+G)E;'-02P$"
M% ,4    "  +B$5:4G%OM5T!  !( P  #P              @ ':&@  >&PO
M=V]R:V)O;VLN>&UL4$L! A0#%     @ "XA%6KMLZNRZ    &@,  !H
M         ( !9!P  'AL+U]R96QS+W=O<FMB;V]K+GAM;"YR96QS4$L! A0#
M%     @ "XA%6J;\2ELC 0  WP0  !,              ( !5AT  %M#;VYT
D96YT7U1Y<&5S72YX;6Q02P4&      L "P#* @  JAX

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>15
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0);
e.removeAttribute('id');a.parentNode.appendChild(e)}}
if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'}
e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>16
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
.report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

.report table.authRefData a {
	display: block;
	font-weight: bold;
}

.report table.authRefData p {
	margin-top: 0px;
}

.report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

.report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

.report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

.report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
.pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
.report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

.report hr {
	border: 1px solid #acf;
}

/* Top labels */
.report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

.report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

.report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

.report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

.report td.pl div.a {
	width: 200px;
}

.report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
.report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
.report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
.report .re, .report .reu {
	background-color: #def;
}

.report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
.report .ro, .report .rou {
	background-color: white;
}

.report .rou td {
	border-bottom: 1px solid black;
}

.report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
.report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
.report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

.report .nump {
	padding-left: 2em;
}

.report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
.report .text {
	text-align: left;
	white-space: normal;
}

.report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

.report .text .more {
	display: none;
}

.report .text .note {
	font-style: italic;
	font-weight: bold;
}

.report .text .small {
	width: 10em;
}

.report sup {
	font-style: italic;
}

.report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>18
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version='1.0' encoding='utf-8'?>
<FilingSummary>
  <Version>3.25.0.1</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>8</ContextCount>
  <ElementCount>14</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>true</FootnotesReported>
  <SegmentCount>1</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>4</UnitCount>
  <MyReports>
    <Report instance="e25030_ex107.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>995210 - Document - Submission</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://xbrl.sec.gov/ffd/role/document/submissionTable</Role>
      <ShortName>Submission</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>1</Position>
    </Report>
    <Report instance="e25030_ex107.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R2.htm</HtmlFileName>
      <LongName>995211 - Document - Offerings</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://xbrl.sec.gov/ffd/role/document/feesOfferingTable</Role>
      <ShortName>Offerings</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>2</Position>
    </Report>
    <Report instance="e25030_ex107.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R3.htm</HtmlFileName>
      <LongName>995215 - Document - Fees Summary</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://xbrl.sec.gov/ffd/role/document/feesSummaryTable</Role>
      <ShortName>Fees Summary</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>3</Position>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <InputFiles>
    <File doctype="EX-FILING FEES" original="e25030_ex107.htm">e25030_ex107.htm</File>
  </InputFiles>
  <SupplementalFiles/>
  <BaseTaxonomies>
    <BaseTaxonomy items="2">http://xbrl.sec.gov/dei/2024</BaseTaxonomy>
    <BaseTaxonomy items="42">http://xbrl.sec.gov/ffd/2024q2</BaseTaxonomy>
  </BaseTaxonomies>
  <HasPresentationLinkbase>false</HasPresentationLinkbase>
  <HasCalculationLinkbase>false</HasCalculationLinkbase>
</FilingSummary>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>JSON
<SEQUENCE>20
<FILENAME>MetaLinks.json
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
{
 "version": "2.2",
 "instance": {
  "e25030_ex107.htm": {
   "dts": {
    "inline": {
     "local": [
      "e25030_ex107.htm"
     ]
    },
    "schema": {
     "remote": [
      "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xl-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xlink-2003-12-31.xsd",
      "http://www.xbrl.org/2005/xbrldt-2005.xsd",
      "http://www.xbrl.org/lrr/arcrole/deprecated-2009-12-16.xsd",
      "https://www.xbrl.org/dtr/type/2022-03-31/types.xsd",
      "https://xbrl.sec.gov/dei/2024/dei-2024.xsd",
      "https://xbrl.sec.gov/ffd/2024q2/ffd-2024q2.xsd"
     ]
    }
   },
   "keyStandard": 14,
   "keyCustom": 0,
   "axisStandard": 1,
   "axisCustom": 0,
   "memberStandard": 1,
   "memberCustom": 0,
   "hidden": {
    "total": 6,
    "http://xbrl.sec.gov/ffd/2024q2": 5,
    "http://xbrl.sec.gov/dei/2024": 1
   },
   "contextCount": 8,
   "entityCount": 1,
   "segmentCount": 1,
   "elementCount": 107,
   "unitCount": 4,
   "baseTaxonomies": {
    "http://xbrl.sec.gov/ffd/2024q2": 42,
    "http://xbrl.sec.gov/dei/2024": 2
   },
   "report": {
    "R1": {
     "role": "http://xbrl.sec.gov/ffd/role/document/submissionTable",
     "longName": "995210 - Document - Submission",
     "shortName": "Submission",
     "isDefault": "true",
     "groupType": "Fee_Exhibit",
     "subGroupType": "",
     "menuCat": "Cover",
     "order": "1",
     "firstAnchor": {
      "contextRef": "AsOf2025-01-31",
      "name": "dei:EntityRegistrantName",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "span",
       "b",
       "span",
       "p",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "e25030_ex107.htm",
      "first": true,
      "unique": true
     },
     "uniqueAnchor": {
      "contextRef": "AsOf2025-01-31",
      "name": "dei:EntityRegistrantName",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "span",
       "b",
       "span",
       "p",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "e25030_ex107.htm",
      "first": true,
      "unique": true
     }
    },
    "R2": {
     "role": "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable",
     "longName": "995211 - Document - Offerings",
     "shortName": "Offerings",
     "isDefault": "false",
     "groupType": "Fee_Exhibit",
     "subGroupType": "",
     "menuCat": "Cover",
     "order": "2",
     "firstAnchor": {
      "contextRef": "From2025-01-312025-01-31_1",
      "name": "ffd:PrevslyPdFlg",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "span",
       "td",
       "tr",
       "table",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "e25030_ex107.htm",
      "first": true,
      "unique": true
     },
     "uniqueAnchor": {
      "contextRef": "From2025-01-312025-01-31_1",
      "name": "ffd:PrevslyPdFlg",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "span",
       "td",
       "tr",
       "table",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "e25030_ex107.htm",
      "first": true,
      "unique": true
     }
    },
    "R3": {
     "role": "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable",
     "longName": "995215 - Document - Fees Summary",
     "shortName": "Fees Summary",
     "isDefault": "false",
     "groupType": "Fee_Exhibit",
     "subGroupType": "",
     "menuCat": "Cover",
     "order": "3",
     "firstAnchor": null,
     "uniqueAnchor": null
    }
   },
   "tag": {
    "ffd_AggtRedRpPricFsclYr": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "AggtRedRpPricFsclYr",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Aggregate Redeemed or Repurchased Price, Fiscal Year",
        "terseLabel": "Aggregate Redeemed or Repurchased, FY"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_AggtRedRpPricPrrFsclYr": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "AggtRedRpPricPrrFsclYr",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Aggregate Redeemed or Repurchased Price, Prior Fiscal Year",
        "terseLabel": "Aggregate Redeemed or Repurchased, Prior FY"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_AggtSalesPricFsclYr": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "AggtSalesPricFsclYr",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Aggregate Sales Price, Fiscal Year",
        "terseLabel": "Aggregate Sales Price"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_AmtRedCdts": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "AmtRedCdts",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Amount of Redemption Credits",
        "terseLabel": "Redemption Credits"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_AmtSctiesRcvd": {
     "xbrltype": "nonNegativeDecimal2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "AmtSctiesRcvd",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Amount of Securities Received",
        "terseLabel": "Amount of Securities Received",
        "documentation": "Amount of securities to be received by the registrant (or cancelled upon issuance of securities to be registered on the form)"
       }
      }
     },
     "auth_ref": [
      "r6"
     ]
    },
    "ffd_AmtSctiesRegd": {
     "xbrltype": "nonNegativeDecimal2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "AmtSctiesRegd",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Amount of Securities Registered",
        "terseLabel": "Amount Registered",
        "documentation": "The amount of securities being registered."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_CeasedOprsDt": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "CeasedOprsDt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Ceased Operations Date",
        "terseLabel": "Ceased Operations Date"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_CfwdFormTp": {
     "xbrltype": "formTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "CfwdFormTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Carry Forward Form Type",
        "terseLabel": "Carry Forward Form Type",
        "documentation": "The Form Type of the prior shelf registration statement from which unsold securities are carried forward under 415(a)(6). This should be an EDGAR submission type (S-3, S-3/A, S-3ASR, etc.), which means there is a fixed set of possible responses. Note that while the XBRL response should be an EDGAR submission type, the human-readable Ex. 107 could include a simpler label (e.g., \"Form S-3\" in the human-readable and \"S-3ASR\" in the XBRL)."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "ffd_CfwdPrevslyPdFee": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "CfwdPrevslyPdFee",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Carry Forward Previously Paid Fee",
        "terseLabel": "Filing Fee Previously Paid in Connection with Unsold Securities to be Carried Forward",
        "documentation": "The fee previously paid in connection with the securities being brought forward from the prior shelf registration statement on which unsold securities are carried forward under 415(a)(6)."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "ffd_CfwdPrrFctvDt": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "CfwdPrrFctvDt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Carry Forward Prior Effective Date",
        "terseLabel": "Carry Forward Initial Effective Date",
        "documentation": "The initial effective date of the prior shelf registration statement from which unsold securities are carried forward under 415(a)(6)."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "ffd_CfwdPrrFileNb": {
     "xbrltype": "fileNumberItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "CfwdPrrFileNb",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Carry Forward File Number",
        "terseLabel": "Carry Forward File Number",
        "documentation": "The EDGAR File Number of the prior shelf registration statement from which unsold securities are carried forward under 415(a)(6). If the prior registration statement has a Securities Act File Number and an Investment Company Act File Number, the Securities Act File Number should be used."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "ffd_CmbndPrspctsItemAxis": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "CmbndPrspctsItemAxis",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Combined Prospectus Item [Axis]",
        "terseLabel": "Combined Prospectus",
        "documentation": "A sequence number (1, 2, 3...) used to distinguish different references to earlier prospectuses on a single fee bearing submission."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_CmbndPrspctsLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "CmbndPrspctsLineItems",
     "lang": {
      "en-us": {
       "role": {
        "label": "Combined Prospectus [Line Items]",
        "terseLabel": "Combined Prospectus:"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_CmbndPrspctsTable": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "CmbndPrspctsTable",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Combined Prospectus [Table]",
        "terseLabel": "Combined Prospectus Table"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_CombinedProspectusTableNa": {
     "xbrltype": "naItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "CombinedProspectusTableNa",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Combined Prospectus Table [N/A]",
        "terseLabel": "Combined Prospectus Table N/A"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_CshPdByRegistrantInTx": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "CshPdByRegistrantInTx",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Cash Paid by Registrant in Transaction",
        "terseLabel": "Cash Consideration Paid",
        "documentation": "Amount of cash consideration paid by registrant in connection with the exchange or other transaction being registered (in a 457(f) calculation)."
       }
      }
     },
     "auth_ref": [
      "r12"
     ]
    },
    "ffd_CshRcvdByRegistrantInTx": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "CshRcvdByRegistrantInTx",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Cash Received by Registrant in Transaction",
        "terseLabel": "Cash Consideration Received",
        "documentation": "Amount of cash consideration received by registrant in connection with the exchange or other transaction being registered (in a 457(f) calculation)."
       }
      }
     },
     "auth_ref": [
      "r12"
     ]
    },
    "dei_EntityCentralIndexKey": {
     "xbrltype": "centralIndexKeyItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2024",
     "localname": "EntityCentralIndexKey",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Central Index Key",
        "terseLabel": "Central Index Key",
        "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK."
       }
      }
     },
     "auth_ref": [
      "r0"
     ]
    },
    "dei_EntityRegistrantName": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2024",
     "localname": "EntityRegistrantName",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Registrant Name",
        "terseLabel": "Registrant Name",
        "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC."
       }
      }
     },
     "auth_ref": [
      "r0"
     ]
    },
    "ffd_FeeAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "FeeAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable",
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fee Amount",
        "terseLabel": "Amount of Registration Fee",
        "documentation": "Total amount of registration fee (amount due after offsets)."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FeeExhibitTp": {
     "xbrltype": "feeExhibitTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "FeeExhibitTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fee Exhibit Type",
        "terseLabel": "Fee Exhibit Type"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_FeeIntrstAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "FeeIntrstAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fee Interest Amount",
        "terseLabel": "Interest Amount"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FeeNote": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "FeeNote",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fee Note",
        "terseLabel": "Fee Note"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FeeNoteMaxAggtOfferingPric": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "FeeNoteMaxAggtOfferingPric",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fee Note Maximum Aggregate Offering Price",
        "terseLabel": "Fee Note MAOP"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FeeRate": {
     "xbrltype": "percentItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "FeeRate",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable",
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fee Rate",
        "terseLabel": "Fee Rate",
        "documentation": "The rate per dollar of fees that public companies and other issuers pay to register their securities with the Commission."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FeesOthrRuleFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "FeesOthrRuleFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fees, Other Rule [Flag]",
        "terseLabel": "Other Rule",
        "documentation": "Checkbox indicating whether filer is using a rule other than 457(a), 457(o), or 457(f) to calculate the registration fee due."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FeesSummaryLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "FeesSummaryLineItems",
     "lang": {
      "en-us": {
       "role": {
        "label": "Fees Summary [Line Items]",
        "terseLabel": "Fees Summary:"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FnlPrspctsFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "FnlPrspctsFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Final Prospectus [Flag]",
        "terseLabel": "Final Prospectus"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FormTp": {
     "xbrltype": "submissionTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "FormTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Form Type",
        "terseLabel": "Form Type"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_GnlInstrIIhiFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "GnlInstrIIhiFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "General Instruction II.H,I [Flag]",
        "terseLabel": "General Instruction II.H,I"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_IssrBizAdrCity": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "IssrBizAdrCity",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Issuer Business Address, City",
        "terseLabel": "City"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_IssrBizAdrStatOrCtryCd": {
     "xbrltype": "stateOrCountryCodeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "IssrBizAdrStatOrCtryCd",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Issuer Business Address, State or Country Code",
        "terseLabel": "State or Country Code"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_IssrBizAdrStrt1": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "IssrBizAdrStrt1",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Issuer Business Address, Street 1",
        "terseLabel": "Street 1"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_IssrBizAdrStrt2": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "IssrBizAdrStrt2",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Issuer Business Address, Street 2",
        "terseLabel": "Street 2"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_IssrBizAdrZipCd": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "IssrBizAdrZipCd",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Issuer Business Address, Zip Code",
        "terseLabel": "Zip Code"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_IssrNm": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "IssrNm",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Issuer Name",
        "terseLabel": "Issuer Name"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_MaxAggtOfferingPric": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "MaxAggtOfferingPric",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Maximum Aggregate Offering Price",
        "terseLabel": "Maximum Aggregate Offering Price",
        "documentation": "The maximum aggregate offering price for the offering that is being registered."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_MaxOfferingPricPerScty": {
     "xbrltype": "nonNegativeDecimal4lItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "MaxOfferingPricPerScty",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Maximum Offering Price per Security",
        "terseLabel": "Proposed Maximum Offering Price per Unit",
        "documentation": "The maximum offering price per share/unit being registered."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_NetFeeAmt": {
     "xbrltype": "monetaryItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "NetFeeAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Net Fee Amount",
        "terseLabel": "Net Fee"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_NetSalesAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "NetSalesAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Net Sales Amount",
        "terseLabel": "Net Sales"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_NrrtvDsclsr": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "NrrtvDsclsr",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Narrative Disclosure",
        "terseLabel": "Narrative Disclosure"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_NrrtvMaxAggtAmt": {
     "xbrltype": "nonNegativeDecimal2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "NrrtvMaxAggtAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Narrative Disclosure, Maximum Aggregate Offering Amount",
        "terseLabel": "Narrative - Max Aggregate Offering Amount"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_NrrtvMaxAggtOfferingPric": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "NrrtvMaxAggtOfferingPric",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Narrative Disclosure, Maximum Aggregate Offering Price",
        "terseLabel": "Narrative - Max Aggregate Offering Price"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OfferingAxis": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OfferingAxis",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offering [Axis]",
        "terseLabel": "Offering",
        "documentation": "A sequence number (1, 2, 3...) used to distinguish different security offerings on a single fee bearing submission."
       }
      }
     },
     "auth_ref": []
    },
    "ffd_OfferingLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OfferingLineItems",
     "lang": {
      "en-us": {
       "role": {
        "label": "Offering [Line Items]",
        "terseLabel": "Offering:"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_OfferingNote": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OfferingNote",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offering Note",
        "terseLabel": "Offering Note"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OfferingSctyTitl": {
     "xbrltype": "securityTitleItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OfferingSctyTitl",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable",
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offering Security Title",
        "terseLabel": "Security Class Title",
        "documentation": "The title of the class of securities being registered (for each class being registered)."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OfferingSctyTp": {
     "xbrltype": "securityTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OfferingSctyTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offering Security Type",
        "terseLabel": "Security Type",
        "documentation": "Type of securities: \"Asset-backed Securities\", \"ADRs/ADSs\", \"Debt\", \"Debt Convertible into Equity\", \"Equity\", \"Face Amount Certificates\", \"Limited Partnership Interests\", \"Mortgage Backed Securities\", \"Non-Convertible Debt\", \"Unallocated (Universal) Shelf\", \"Exchange Traded Vehicle Securities\", \"Other\""
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OfferingTable": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OfferingTable",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offering [Table]",
        "terseLabel": "Offering:"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_OfferingTableNa": {
     "xbrltype": "naItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OfferingTableNa",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offering Table [N/A]",
        "terseLabel": "Offering Table N/A"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_OffsetAxis": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OffsetAxis",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset [Axis]",
        "terseLabel": "Offset",
        "documentation": "A sequence number (1, 2, 3...) used to distinguish different offsets as applied to a fee bearing submission."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OffsetClmInitlFilgDt": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OffsetClmInitlFilgDt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Claim Initial Filing Date",
        "terseLabel": "Initial Filing Date",
        "documentation": "The initial filing date of the earlier registration statement with which the earlier (offsetting) fee was paid for a claimed offset. If the offset fee was paid with an amendment, do not provide the amendment date under this element; instead, provide the date of the initial filing (i.e. the \"parent\" filing) ."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetClmdAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OffsetClmdAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Claimed Amount",
        "terseLabel": "Fee Offset Claimed",
        "documentation": "The amount of offsetting fees being claimed."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetClmdInd": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OffsetClmdInd",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Claimed Indicator",
        "terseLabel": "Offset Claimed"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OffsetExpltnForClmdAmt": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OffsetExpltnForClmdAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Explanation for Claimed Amount",
        "terseLabel": "Explanation for Claimed Amount"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OffsetLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OffsetLineItems",
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Offset:",
        "label": "Offset [Line Items]"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OffsetNote": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OffsetNote",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Note",
        "terseLabel": "Offset Note"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OffsetPrrFeeAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OffsetPrrFeeAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior Fee Amount",
        "terseLabel": "Fee Paid with Fee Offset Source",
        "documentation": "The fee prevoiusly paid from which an offset is being derived."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetPrrFileNb": {
     "xbrltype": "fileNumberItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OffsetPrrFileNb",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior File Number",
        "terseLabel": "File Number",
        "documentation": "The EDGAR File Number of the earlier registration statement with which the earlier (offsetting) fee was paid. If the offset filing for the offset has a Securities Act File Number and an Investment Company Act File Number, the Securities Act File Number should be used."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetPrrFilerNm": {
     "xbrltype": "filerNameItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OffsetPrrFilerNm",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior Filer Name",
        "terseLabel": "Registrant or Filer Name",
        "documentation": "The name of the registrant that filed the earlier registration statement with which the earlier (offsetting) fee was paid."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetPrrFormTp": {
     "xbrltype": "formTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OffsetPrrFormTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior Form Type",
        "terseLabel": "Form or Filing Type",
        "documentation": "The Form Type of the offset filing."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetPrrNbOfUnsoldScties": {
     "xbrltype": "nonNegativeIntegerItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OffsetPrrNbOfUnsoldScties",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior Unsold Number of Securities",
        "terseLabel": "Unsold Securities Associated with Fee Offset Claimed",
        "documentation": "The number of unsold securities registered on the prior registration statement that are associated with the claimed offset."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetPrrSctyTitl": {
     "xbrltype": "securityTitleItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OffsetPrrSctyTitl",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior Security Title",
        "terseLabel": "Security Title Associated with Fee Offset Claimed",
        "documentation": "The title of the class of securities from which offset fees were derived."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetPrrSctyTp": {
     "xbrltype": "securityTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OffsetPrrSctyTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior Security Type",
        "terseLabel": "Security Type Associated with Fee Offset Claimed",
        "documentation": "Type of securities: \"Asset-backed Securities\", \"ADRs/ADSs\", \"Debt\", \"Debt Convertible into Equity\", \"Equity\", \"Face Amount Certificates\", \"Limited Partnership Interests\", \"Mortgage Backed Securities\", \"Non-Convertible Debt\", \"Unallocated (Universal) Shelf\", \"Exchange Traded Vehicle Securities\", \"Other\""
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetPrrUnsoldOfferingAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OffsetPrrUnsoldOfferingAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior Unsold Offering Amount",
        "terseLabel": "Unsold Aggregate Offering Amount Associated with Fee Offset Claimed",
        "documentation": "The aggregate offering amount of unsold securities registered on the prior registration statement that are associated with the claimed offset."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetSrcFilgDt": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OffsetSrcFilgDt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Source Filing Date",
        "terseLabel": "Filing Date",
        "documentation": "The filing date of the earlier registration statement with which the earlier (offsetting) fee was paid in an offset."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetTable": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OffsetTable",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Offset Payment:",
        "label": "Offset [Table]"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OffsetTableNa": {
     "xbrltype": "naItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "OffsetTableNa",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Table [N/A]",
        "terseLabel": "Offset Table N/A"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_PrevslyPdFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "PrevslyPdFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable",
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fee Previously Paid [Flag]",
        "terseLabel": "Fee Previously Paid"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_RegnFileNb": {
     "xbrltype": "fileNumberItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "RegnFileNb",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Registration File Number",
        "terseLabel": "Registration File Number"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_RptgFsclYrEndDt": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "RptgFsclYrEndDt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Reporting Fiscal Year End Date",
        "terseLabel": "Reporting FY End Date"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_Rule011Flg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Rule011Flg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 0-11 [Flag]",
        "terseLabel": "Rule 0-11"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_Rule011a2OffsetFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Rule011a2OffsetFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Rule 0-11(a)(2) Offset",
        "label": "Rule 0-11(a)(2) Offset [Flag]"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_Rule415a6Flg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Rule415a6Flg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 415(a)(6) [Flag]",
        "terseLabel": "Rule 415(a)(6)",
        "documentation": "Checkbox indicating whether filer is claiming a 415(a)(6) carryforward."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "ffd_Rule429AggtOfferingAmt": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Rule429AggtOfferingAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Aggregate Offering Amount",
        "terseLabel": "Maximum Aggregate Offering Price of Securities Previously Registered",
        "documentation": "The maximum aggregate offering amount of unsold securities registered on the prior registration statement that are carried forward under Rule 429. Only applicable if 457(o) was used in the fee calculation for the prior registration statement."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "ffd_Rule429CmbndPrspctsFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Rule429CmbndPrspctsFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Combined Prospectus [Flag]",
        "terseLabel": "Rule 429",
        "documentation": "Checkbox indicating whether filer is using a combined prospectus under Rule 429."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "ffd_Rule429EarlierFileNb": {
     "xbrltype": "fileNumberItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Rule429EarlierFileNb",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Earlier File Number",
        "terseLabel": "File Number",
        "documentation": "The Securities Act File Number of the earlier effective registration statement(s) from which securities may be offered and sold using the combined prospectus pursuant to Rule 429."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "ffd_Rule429EarlierFormTp": {
     "xbrltype": "formTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Rule429EarlierFormTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Earlier Form Type",
        "terseLabel": "Form Type",
        "documentation": "The Form Type of the earlier registration statement from which unsold securities are carried forward under Rule 429. This should be an EDGAR submission type (S-3, S-3/A, S-3ASR, etc.), which means there is a fixed set of possible responses. Note that while the XBRL response should be an EDGAR submission type, the human-readable Ex. 107 could include a simpler label (e.g., \"Form S-3\" in the human-readable and \"S-3ASR\" in the XBRL)."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "ffd_Rule429InitlFctvDt": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Rule429InitlFctvDt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Initial Effective Date",
        "terseLabel": "Initial Effective Date",
        "documentation": "The filing date of the earlier registration statement from which unsold securities are carried forward under Rule 429."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "ffd_Rule429NbOfUnsoldScties": {
     "xbrltype": "nonNegativeDecimal2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Rule429NbOfUnsoldScties",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Number Of Unsold Securities",
        "terseLabel": "Amount of Securities Previously Registered",
        "documentation": "The number of securities registered on the prior registration statement that are carried forward under Rule 429."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "ffd_Rule429PrspctsNote": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Rule429PrspctsNote",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Prospectus Note",
        "terseLabel": "Combined Prospectus Note"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_Rule429SctyTitl": {
     "xbrltype": "securityTitleItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Rule429SctyTitl",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Security Title",
        "terseLabel": "Security Class Title"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_Rule429SctyTp": {
     "xbrltype": "securityTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Rule429SctyTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Security Type",
        "terseLabel": "Security Type"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_Rule457aFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Rule457aFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(a) [Flag]",
        "terseLabel": "Rule 457(a)",
        "documentation": "Checkbox indicating whether filer is using Rule 457(a) to calculate the registration fee due."
       }
      }
     },
     "auth_ref": [
      "r4"
     ]
    },
    "ffd_Rule457bOffsetFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Rule457bOffsetFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(b) Offset [Flag]",
        "terseLabel": "Rule 457(b) Offset",
        "documentation": "Checkbox indicating whether filer is claiming an offset under Rule 457(b) or 0-11(a)(2)."
       }
      }
     },
     "auth_ref": [
      "r5"
     ]
    },
    "ffd_Rule457fFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Rule457fFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(f) [Flag]",
        "terseLabel": "Rule 457(f)",
        "documentation": "Checkbox indicating whether filer is using Rule 457(f) to calculate the registration fee due."
       }
      }
     },
     "auth_ref": [
      "r6"
     ]
    },
    "ffd_Rule457oFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Rule457oFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(o) [Flag]",
        "terseLabel": "Rule 457(o)",
        "documentation": "Checkbox indicating whether filer is using Rule 457(o) to calculate the registration fee due."
       }
      }
     },
     "auth_ref": [
      "r7"
     ]
    },
    "ffd_Rule457pOffsetFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Rule457pOffsetFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(p) Offset [Flag]",
        "terseLabel": "Rule 457(p) Offset",
        "documentation": "Checkbox indicating whether filer is claiming an offset under Rule 457(p)."
       }
      }
     },
     "auth_ref": [
      "r8"
     ]
    },
    "ffd_Rule457rFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Rule457rFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(r) [Flag]",
        "terseLabel": "Rule 457(r)"
       }
      }
     },
     "auth_ref": [
      "r9"
     ]
    },
    "ffd_Rule457sFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Rule457sFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(s) Flag",
        "terseLabel": "Rule 457(s)"
       }
      }
     },
     "auth_ref": [
      "r10"
     ]
    },
    "ffd_Rule457uFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Rule457uFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(u) [Flag]",
        "terseLabel": "Rule 457(u)",
        "documentation": "Checkbox indicating whether filer is using Rule 457(u) to calculate the registration fee due."
       }
      }
     },
     "auth_ref": [
      "r11"
     ]
    },
    "ffd_Scties424iAxis": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Scties424iAxis",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Securities, 424I [Axis]",
        "terseLabel": "Securities, 424I"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_Scties424iLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Scties424iLineItems",
     "lang": {
      "en-us": {
       "role": {
        "label": "Securities, 424I [Line Items]",
        "terseLabel": "Securities, 424I:"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_Scties424iTable": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Scties424iTable",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Securities, 424I [Table]",
        "terseLabel": "Securities, 424I Table"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_Securities424iTableNa": {
     "xbrltype": "naItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "Securities424iNa",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Securities 424I [N/A]",
        "terseLabel": "Securities 424I N/A"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_SubmissionLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "SubmissionLineItems",
     "lang": {
      "en-us": {
       "role": {
        "label": "Submission [Line Items]",
        "terseLabel": "Items"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_SubmissnTp": {
     "xbrltype": "submissionTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "SubmissnTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Submission Type",
        "terseLabel": "Submission Type"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_TermntnCmpltnWdrwl": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "TermntnCmpltnWdrwl",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Termination / Completion / Withdrawal Statement",
        "terseLabel": "Termination / Withdrawal Statement"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_TtlFeeAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "TtlFeeAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Total Fee Amount",
        "terseLabel": "Total Fee Amount"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_TtlFeeAndIntrstAmt": {
     "xbrltype": "nonNegativeDecimal2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "TtlFeeAndIntrstAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Total Fee and Interest Amount",
        "terseLabel": "Total Fee and Interest Amount"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_TtlOfferingAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "TtlOfferingAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Total Offering Amount",
        "terseLabel": "Total Offering"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_TtlOffsetAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "TtlOffsetAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Total Offset Amount",
        "terseLabel": "Total Offset Amount"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_TtlPrevslyPdAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "TtlPrevslyPdAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Total Previously Paid Amount",
        "terseLabel": "Previously Paid Amount"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_TtlTxValtn": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "TtlTxValtn",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Total Transaction Valuation",
        "terseLabel": "Total Transaction Valuation"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_TxValtn": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "TxValtn",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Transaction Valuation",
        "terseLabel": "Transaction Valuation"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_ValSctiesRcvd": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "ValSctiesRcvd",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Value of Securities Received",
        "terseLabel": "Value of Securities Received",
        "documentation": "Value of securities to be received by the registrant (or cancelled upon issuance of securities to be registered on the form)"
       }
      }
     },
     "auth_ref": [
      "r6"
     ]
    },
    "ffd_ValSctiesRcvdPerShr": {
     "xbrltype": "nonNegativeDecimal4lItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2024q2",
     "localname": "ValSctiesRcvdPerShr",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Value of Securities Received, Per Share",
        "terseLabel": "Value of Securities Received, Per Share",
        "documentation": "Value per share of securities to be received by the registrant (or cancelled upon issuance of securities to be registered on the form). This is included in the explanation of 457(f) fee calculation."
       }
      }
     },
     "auth_ref": [
      "r6"
     ]
    }
   }
  }
 },
 "std_ref": {
  "r0": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "b-2"
  },
  "r1": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230"
  },
  "r2": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "415",
   "Subsection": "a"
  },
  "r3": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "429"
  },
  "r4": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457"
  },
  "r5": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457",
   "Subsection": "b"
  },
  "r6": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457",
   "Subsection": "f"
  },
  "r7": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457",
   "Subsection": "o"
  },
  "r8": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457",
   "Subsection": "p"
  },
  "r9": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457",
   "Subsection": "r"
  },
  "r10": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457",
   "Subsection": "s"
  },
  "r11": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457",
   "Subsection": "u"
  },
  "r12": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Subsection": "f",
   "Section": "457"
  }
 }
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>21
<FILENAME>0001552781-25-000022-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001552781-25-000022-xbrl.zip
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M5ET7Z2>D2DUPKA&I$OH$UFL;G"A7G'$,/,F;\'_7I=Z')=(475<*"MJ C>^
MD?:A-O('O"4BBH4DI+2A,+BB$^(2#(FLKA<#Q0=R^J[J6[(2.0WREHVP6SOS
M10W;D[R17;@->U@?Q^U\Z%[E.Z$TC+P/A+[6+U_?Z9SU_%"?$WG'-^*63D;;
M1:'?O- >C-_=MGS67#':3L:G1MMD,B)AH6B1:,XFTYD9O(%%,C3-(+UH2*V?
M,(&YL6T099)$,E9E5,,3@Y,&4UL73 WM.45>!UNJ7%W;]T]U-,>>$Q_ )(%_
MUWQL5N6\=:G>)E>U[<04VRZ215U&IF$K6+1ZC-TDBU' ?W@+J*N3QR&)05[P
M(2SD<0S$HW +6 BLWW:38.D''P66)O KO"K)<NBH6#'!MMP4UZ<8#!=OJ-!Q
ML?7CXECH(ZRG^#_\P0/+SQD7R0\8%R="7U?EW\=5YZ'ZW%AU7$QC6-UQX8!G
M/&':Q!\E7JZ-?>^9P1W#-6\#S#SDVH7\X8" G4G4_60Z305:G'0<;=?#));G
M>M.&CD $U]FC@V7K!PLK]-O5$[N1KXBW-_$Y@R7U,8O(\U6ESO^I5]6K.2-W
M_F!)31DL-T-?R'\;W5@$9OMA$B'0+5<[T1YZ4&28+>42[7WD-J2W]S:R/WJ'
M(/<5!-Y9!J#]Q90+[@>!)0=;NACI)"BSW9TYMQ@ZZY9>Y.)YHW5\6ZG%CNO=
M%_Y:ON7J-\7NZU/#OE4JJ6KU_/Q,YBN\%.^U8M;%'^5!S!NU9ER_;A>/G:[Y
MQ#FMZ]/>><,Q[&M63%;RY^V3TQ='/(LG+W FWTX]HJOZHWU_YB ]T[@WD_E^
MJM)L*4;[_NH9/:8Z?>7TD55+IW<-H]<WG^[O;V_O7G3S.IFJO%ZQ*2/__&@D
M+JN/-GO70DFC<MZ6U-MKMOOGF;^S>H^WC4Y<>;Q)%HJ71O$E@\Q2[")_6[IH
ME4OXLOADM]GT1=>*59^-2O/BL5 3_[]OI]EZXK)][%3.FXVC(P^16,V0>^1O
M$VMJ[G]02P$"% ,4    "  +B$5:S6A6-F47  #_&0$ $
L@ $     93(U,#,P7V5X,3 W+FAT;5!+!08      0 ! #X   "3%P     !

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>22
<FILENAME>e25030_ex107_htm.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version="1.0" encoding="utf-8"?>
<xbrl
  xmlns="http://www.xbrl.org/2003/instance"
  xmlns:dei="http://xbrl.sec.gov/dei/2024"
  xmlns:ffd="http://xbrl.sec.gov/ffd/2024q2"
  xmlns:iso4217="http://www.xbrl.org/2003/iso4217"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xbrldi="http://xbrl.org/2006/xbrldi"
  xmlns:xlink="http://www.w3.org/1999/xlink">
    <link:schemaRef
      xlink:href="https://xbrl.sec.gov/ffd/2024q2/ffd-2024q2.xsd"
      xlink:type="simple"/>
    <context id="AsOf2025-01-31">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000038777</identifier>
        </entity>
        <period>
            <startDate>2025-01-31</startDate>
            <endDate>2025-01-31</endDate>
        </period>
    </context>
    <context id="From2025-01-312025-01-31_1">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000038777</identifier>
            <segment>
                <xbrldi:typedMember dimension="ffd:OfferingAxis">
                    <dei:lineNo>1</dei:lineNo>
                </xbrldi:typedMember>
            </segment>
        </entity>
        <period>
            <startDate>2025-01-31</startDate>
            <endDate>2025-01-31</endDate>
        </period>
    </context>
    <context id="From2025-01-312025-01-31_2">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000038777</identifier>
            <segment>
                <xbrldi:typedMember dimension="ffd:OfferingAxis">
                    <dei:lineNo>2</dei:lineNo>
                </xbrldi:typedMember>
            </segment>
        </entity>
        <period>
            <startDate>2025-01-31</startDate>
            <endDate>2025-01-31</endDate>
        </period>
    </context>
    <context id="From2025-01-312025-01-31_3">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000038777</identifier>
            <segment>
                <xbrldi:typedMember dimension="ffd:OfferingAxis">
                    <dei:lineNo>3</dei:lineNo>
                </xbrldi:typedMember>
            </segment>
        </entity>
        <period>
            <startDate>2025-01-31</startDate>
            <endDate>2025-01-31</endDate>
        </period>
    </context>
    <context id="From2025-01-312025-01-31_4">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000038777</identifier>
            <segment>
                <xbrldi:typedMember dimension="ffd:OfferingAxis">
                    <dei:lineNo>4</dei:lineNo>
                </xbrldi:typedMember>
            </segment>
        </entity>
        <period>
            <startDate>2025-01-31</startDate>
            <endDate>2025-01-31</endDate>
        </period>
    </context>
    <context id="From2025-01-312025-01-31_5">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000038777</identifier>
            <segment>
                <xbrldi:typedMember dimension="ffd:OfferingAxis">
                    <dei:lineNo>5</dei:lineNo>
                </xbrldi:typedMember>
            </segment>
        </entity>
        <period>
            <startDate>2025-01-31</startDate>
            <endDate>2025-01-31</endDate>
        </period>
    </context>
    <context id="From2025-01-312025-01-31_6">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000038777</identifier>
            <segment>
                <xbrldi:typedMember dimension="ffd:OfferingAxis">
                    <dei:lineNo>6</dei:lineNo>
                </xbrldi:typedMember>
            </segment>
        </entity>
        <period>
            <startDate>2025-01-31</startDate>
            <endDate>2025-01-31</endDate>
        </period>
    </context>
    <context id="From2025-01-312025-01-31_7">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000038777</identifier>
            <segment>
                <xbrldi:typedMember dimension="ffd:OfferingAxis">
                    <dei:lineNo>7</dei:lineNo>
                </xbrldi:typedMember>
            </segment>
        </entity>
        <period>
            <startDate>2025-01-31</startDate>
            <endDate>2025-01-31</endDate>
        </period>
    </context>
    <unit id="USD">
        <measure>iso4217:USD</measure>
    </unit>
    <unit id="Shares">
        <measure>shares</measure>
    </unit>
    <unit id="USDPShares">
        <divide>
            <unitNumerator>
                <measure>iso4217:USD</measure>
            </unitNumerator>
            <unitDenominator>
                <measure>shares</measure>
            </unitDenominator>
        </divide>
    </unit>
    <unit id="Ratio">
        <measure>pure</measure>
    </unit>
    <dei:EntityCentralIndexKey contextRef="AsOf2025-01-31" id="Fact000003">0000038777</dei:EntityCentralIndexKey>
    <ffd:FeeExhibitTp contextRef="AsOf2025-01-31" id="xdx2ixbrl0010">EX-FILING FEES</ffd:FeeExhibitTp>
    <ffd:TtlOfferingAmt
      contextRef="AsOf2025-01-31"
      decimals="0"
      id="xdx2ixbrl0041"
      unitRef="USD">0</ffd:TtlOfferingAmt>
    <ffd:TtlFeeAmt
      contextRef="AsOf2025-01-31"
      decimals="INF"
      id="xdx2ixbrl0042"
      unitRef="USD">0</ffd:TtlFeeAmt>
    <ffd:TtlPrevslyPdAmt
      contextRef="AsOf2025-01-31"
      decimals="0"
      id="xdx2ixbrl0043"
      unitRef="USD">0</ffd:TtlPrevslyPdAmt>
    <ffd:NetFeeAmt
      contextRef="AsOf2025-01-31"
      decimals="INF"
      id="xdx2ixbrl0044"
      unitRef="USD">0</ffd:NetFeeAmt>
    <ffd:SubmissnTp contextRef="AsOf2025-01-31" id="Fact000009">S-3ASR</ffd:SubmissnTp>
    <ffd:FormTp contextRef="AsOf2025-01-31" id="Fact000011">S-3</ffd:FormTp>
    <dei:EntityRegistrantName contextRef="AsOf2025-01-31" id="Fact000012">Franklin Resources, Inc.</dei:EntityRegistrantName>
    <ffd:PrevslyPdFlg contextRef="From2025-01-312025-01-31_1" id="Fact000015">false</ffd:PrevslyPdFlg>
    <ffd:OfferingSctyTp contextRef="From2025-01-312025-01-31_1" id="Fact000013">Equity</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="From2025-01-312025-01-31_1" id="Fact000014">Common     Stock, par value $0.10 per share</ffd:OfferingSctyTitl>
    <ffd:Rule457rFlg contextRef="From2025-01-312025-01-31_1" id="Fact000016">true</ffd:Rule457rFlg>
    <ffd:PrevslyPdFlg contextRef="From2025-01-312025-01-31_2" id="Fact000019">false</ffd:PrevslyPdFlg>
    <ffd:OfferingSctyTp contextRef="From2025-01-312025-01-31_2" id="Fact000017">Equity</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="From2025-01-312025-01-31_2" id="Fact000018">Preferred     Stock, par value $1.00 per share</ffd:OfferingSctyTitl>
    <ffd:Rule457rFlg contextRef="From2025-01-312025-01-31_2" id="Fact000020">true</ffd:Rule457rFlg>
    <ffd:PrevslyPdFlg contextRef="From2025-01-312025-01-31_3" id="Fact000023">false</ffd:PrevslyPdFlg>
    <ffd:OfferingSctyTp contextRef="From2025-01-312025-01-31_3" id="Fact000021">Debt</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="From2025-01-312025-01-31_3" id="Fact000022">Debt     Securities</ffd:OfferingSctyTitl>
    <ffd:Rule457rFlg contextRef="From2025-01-312025-01-31_3" id="Fact000024">true</ffd:Rule457rFlg>
    <ffd:PrevslyPdFlg contextRef="From2025-01-312025-01-31_4" id="Fact000027">false</ffd:PrevslyPdFlg>
    <ffd:OfferingSctyTp contextRef="From2025-01-312025-01-31_4" id="Fact000025">Other</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="From2025-01-312025-01-31_4" id="Fact000026">Warrants(3)</ffd:OfferingSctyTitl>
    <ffd:Rule457rFlg contextRef="From2025-01-312025-01-31_4" id="Fact000028">true</ffd:Rule457rFlg>
    <ffd:PrevslyPdFlg contextRef="From2025-01-312025-01-31_5" id="Fact000031">false</ffd:PrevslyPdFlg>
    <ffd:OfferingSctyTp contextRef="From2025-01-312025-01-31_5" id="Fact000029">Other</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="From2025-01-312025-01-31_5" id="Fact000030">Depositary     Shares(4)</ffd:OfferingSctyTitl>
    <ffd:Rule457rFlg contextRef="From2025-01-312025-01-31_5" id="Fact000032">true</ffd:Rule457rFlg>
    <ffd:PrevslyPdFlg contextRef="From2025-01-312025-01-31_6" id="Fact000035">false</ffd:PrevslyPdFlg>
    <ffd:OfferingSctyTp contextRef="From2025-01-312025-01-31_6" id="Fact000033">Other</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="From2025-01-312025-01-31_6" id="Fact000034">Units(5)</ffd:OfferingSctyTitl>
    <ffd:Rule457rFlg contextRef="From2025-01-312025-01-31_6" id="Fact000036">true</ffd:Rule457rFlg>
    <ffd:PrevslyPdFlg contextRef="From2025-01-312025-01-31_7" id="Fact000039">false</ffd:PrevslyPdFlg>
    <ffd:OfferingSctyTp contextRef="From2025-01-312025-01-31_7" id="Fact000037">Other</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="From2025-01-312025-01-31_7" id="Fact000038">Stock     Purchase Contracts(6)</ffd:OfferingSctyTitl>
    <ffd:Rule457rFlg contextRef="From2025-01-312025-01-31_7" id="Fact000040">true</ffd:Rule457rFlg>
    <ffd:OfferingNote contextRef="From2025-01-312025-01-31_1" id="Fact000046"> &lt;span id="xdx_903_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__2_z8MkzKh5D5q5"&gt; &lt;span id="xdx_90D_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__3_zNWwIjvXghA9"&gt; &lt;span id="xdx_905_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__4_zqBVaPXGx6Mj"&gt; &lt;span id="xdx_909_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__5_zYzfjEEBMRA6"&gt; &lt;span id="xdx_90B_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__6_zy7htGCkyXW4"&gt; &lt;span id="xdx_901_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__7_zI7aGnWUJIR6"&gt;An indeterminate number and aggregate
    initial offering price of securities of each identified class are being registered as may from time to time be offered at indeterminate
    prices, including an indeterminate number or amount of securities that may be issued upon the exercise, settlement, exchange or conversion
    of securities offered hereunder. Separate consideration may or may not be received for securities that are issuable on exercise,
    settlement, exchange or conversion of other securities.&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;</ffd:OfferingNote>
    <ffd:OfferingNote contextRef="From2025-01-312025-01-31_2" id="Fact000047"> &lt;span id="xdx_90D_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__3_zNWwIjvXghA9"&gt; &lt;span id="xdx_905_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__4_zqBVaPXGx6Mj"&gt; &lt;span id="xdx_909_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__5_zYzfjEEBMRA6"&gt; &lt;span id="xdx_90B_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__6_zy7htGCkyXW4"&gt; &lt;span id="xdx_901_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__7_zI7aGnWUJIR6"&gt;An indeterminate number and aggregate
    initial offering price of securities of each identified class are being registered as may from time to time be offered at indeterminate
    prices, including an indeterminate number or amount of securities that may be issued upon the exercise, settlement, exchange or conversion
    of securities offered hereunder. Separate consideration may or may not be received for securities that are issuable on exercise,
    settlement, exchange or conversion of other securities.&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;</ffd:OfferingNote>
    <ffd:OfferingNote contextRef="From2025-01-312025-01-31_3" id="Fact000048"> &lt;span id="xdx_905_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__4_zqBVaPXGx6Mj"&gt; &lt;span id="xdx_909_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__5_zYzfjEEBMRA6"&gt; &lt;span id="xdx_90B_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__6_zy7htGCkyXW4"&gt; &lt;span id="xdx_901_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__7_zI7aGnWUJIR6"&gt;An indeterminate number and aggregate
    initial offering price of securities of each identified class are being registered as may from time to time be offered at indeterminate
    prices, including an indeterminate number or amount of securities that may be issued upon the exercise, settlement, exchange or conversion
    of securities offered hereunder. Separate consideration may or may not be received for securities that are issuable on exercise,
    settlement, exchange or conversion of other securities.&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;</ffd:OfferingNote>
    <ffd:OfferingNote contextRef="From2025-01-312025-01-31_4" id="Fact000049"> &lt;span id="xdx_909_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__5_zYzfjEEBMRA6"&gt; &lt;span id="xdx_90B_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__6_zy7htGCkyXW4"&gt; &lt;span id="xdx_901_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__7_zI7aGnWUJIR6"&gt;An indeterminate number and aggregate
    initial offering price of securities of each identified class are being registered as may from time to time be offered at indeterminate
    prices, including an indeterminate number or amount of securities that may be issued upon the exercise, settlement, exchange or conversion
    of securities offered hereunder. Separate consideration may or may not be received for securities that are issuable on exercise,
    settlement, exchange or conversion of other securities.&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;</ffd:OfferingNote>
    <ffd:OfferingNote contextRef="From2025-01-312025-01-31_5" id="Fact000050"> &lt;span id="xdx_90B_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__6_zy7htGCkyXW4"&gt; &lt;span id="xdx_901_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__7_zI7aGnWUJIR6"&gt;An indeterminate number and aggregate
    initial offering price of securities of each identified class are being registered as may from time to time be offered at indeterminate
    prices, including an indeterminate number or amount of securities that may be issued upon the exercise, settlement, exchange or conversion
    of securities offered hereunder. Separate consideration may or may not be received for securities that are issuable on exercise,
    settlement, exchange or conversion of other securities.&lt;/span&gt;&lt;/span&gt;</ffd:OfferingNote>
    <ffd:OfferingNote contextRef="From2025-01-312025-01-31_6" id="Fact000051"> &lt;span id="xdx_901_effd--OfferingNote_c20250131__20250131__ffd--OfferingAxis__7_zI7aGnWUJIR6"&gt;An indeterminate number and aggregate
    initial offering price of securities of each identified class are being registered as may from time to time be offered at indeterminate
    prices, including an indeterminate number or amount of securities that may be issued upon the exercise, settlement, exchange or conversion
    of securities offered hereunder. Separate consideration may or may not be received for securities that are issuable on exercise,
    settlement, exchange or conversion of other securities.&lt;/span&gt;</ffd:OfferingNote>
    <ffd:OfferingNote contextRef="From2025-01-312025-01-31_7" id="Fact000052">An indeterminate number and aggregate
    initial offering price of securities of each identified class are being registered as may from time to time be offered at indeterminate
    prices, including an indeterminate number or amount of securities that may be issued upon the exercise, settlement, exchange or conversion
    of securities offered hereunder. Separate consideration may or may not be received for securities that are issuable on exercise,
    settlement, exchange or conversion of other securities.</ffd:OfferingNote>
    <link:footnoteLink
      xlink:role="http://www.xbrl.org/2003/role/link"
      xlink:type="extended">
        <link:loc
          xlink:href="#Fact000016"
          xlink:label="Fact000016"
          xlink:type="locator"/>
        <link:footnote id="Footnote000045" xlink:label="Footnote000045" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">In accordance with Rules 456(b) and
    457(r) under the Securities Act of 1933, as amended (the &#x201c;Securities Act&#x201d;), Franklin Resources, Inc. (the &#x201c;Registrant&#x201d;)
    is deferring payment of all of the registration fees associated with the registration of the offer and sale of the aforementioned
    securities. Registration fees will be paid subsequently on a &#x201c;pay as you go&#x201d; basis. The Registrant will calculate the
    registration fee applicable to an offering of securities pursuant to this Registration Statement based on the fee payment rate in
    effect on the date of the fee payment.</link:footnote>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="Fact000016"
          xlink:to="Footnote000045"
          xlink:type="arc"/>
        <link:loc
          xlink:href="#Fact000020"
          xlink:label="Fact000020"
          xlink:type="locator"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="Fact000020"
          xlink:to="Footnote000045"
          xlink:type="arc"/>
        <link:loc
          xlink:href="#Fact000024"
          xlink:label="Fact000024"
          xlink:type="locator"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="Fact000024"
          xlink:to="Footnote000045"
          xlink:type="arc"/>
        <link:loc
          xlink:href="#Fact000028"
          xlink:label="Fact000028"
          xlink:type="locator"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="Fact000028"
          xlink:to="Footnote000045"
          xlink:type="arc"/>
        <link:loc
          xlink:href="#Fact000032"
          xlink:label="Fact000032"
          xlink:type="locator"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="Fact000032"
          xlink:to="Footnote000045"
          xlink:type="arc"/>
        <link:loc
          xlink:href="#Fact000036"
          xlink:label="Fact000036"
          xlink:type="locator"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="Fact000036"
          xlink:to="Footnote000045"
          xlink:type="arc"/>
        <link:loc
          xlink:href="#Fact000040"
          xlink:label="Fact000040"
          xlink:type="locator"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="Fact000040"
          xlink:to="Footnote000045"
          xlink:type="arc"/>
        <link:loc
          xlink:href="#xdx2ixbrl0042"
          xlink:label="xdx2ixbrl0042"
          xlink:type="locator"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="xdx2ixbrl0042"
          xlink:to="Footnote000045"
          xlink:type="arc"/>
        <link:loc
          xlink:href="#xdx2ixbrl0044"
          xlink:label="xdx2ixbrl0044"
          xlink:type="locator"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="xdx2ixbrl0044"
          xlink:to="Footnote000045"
          xlink:type="arc"/>
        <link:loc
          xlink:href="#Fact000026"
          xlink:label="Fact000026"
          xlink:type="locator"/>
        <link:footnote id="Footnote000053" xlink:label="Footnote000053" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Includes warrants to purchase common stock, preferred
    stock or debt securities.</link:footnote>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="Fact000026"
          xlink:to="Footnote000053"
          xlink:type="arc"/>
        <link:loc
          xlink:href="#Fact000030"
          xlink:label="Fact000030"
          xlink:type="locator"/>
        <link:footnote id="Footnote000054" xlink:label="Footnote000054" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Each depositary share will be issued
    under a deposit agreement and will represent a fractional share or multiple shares of preferred stock.</link:footnote>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="Fact000030"
          xlink:to="Footnote000054"
          xlink:type="arc"/>
        <link:loc
          xlink:href="#Fact000034"
          xlink:label="Fact000034"
          xlink:type="locator"/>
        <link:footnote id="Footnote000055" xlink:label="Footnote000055" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Each unit will represent an interest
    in two or more securities registered under this Registration Statement, which may or may not be separable from one another.</link:footnote>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="Fact000034"
          xlink:to="Footnote000055"
          xlink:type="arc"/>
        <link:loc
          xlink:href="#Fact000038"
          xlink:label="Fact000038"
          xlink:type="locator"/>
        <link:footnote id="Footnote000056" xlink:label="Footnote000056" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Purchase contracts may be issued separately or
    as purchase units.</link:footnote>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="Fact000038"
          xlink:to="Footnote000056"
          xlink:type="arc"/>
    </link:footnoteLink>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
