<SEC-DOCUMENT>0001104659-22-086733.txt : 20220805
<SEC-HEADER>0001104659-22-086733.hdr.sgml : 20220805
<ACCEPTANCE-DATETIME>20220805163355
ACCESSION NUMBER:		0001104659-22-086733
CONFORMED SUBMISSION TYPE:	S-3
PUBLIC DOCUMENT COUNT:		14
FILED AS OF DATE:		20220805
DATE AS OF CHANGE:		20220805

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Protagonist Therapeutics, Inc
		CENTRAL INDEX KEY:			0001377121
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				980505495
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-266595
		FILM NUMBER:		221141360

	BUSINESS ADDRESS:	
		STREET 1:		7707 GATEWAY BLVD., SUITE 140
		CITY:			NEWARK
		STATE:			CA
		ZIP:			94560-1160
		BUSINESS PHONE:		(510) 474-0170

	MAIL ADDRESS:	
		STREET 1:		7707 GATEWAY BLVD., SUITE 140
		CITY:			NEWARK
		STATE:			CA
		ZIP:			94560-1160

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Protagonist Therapeutics Inc
		DATE OF NAME CHANGE:	20130605

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Protagonist Inc
		DATE OF NAME CHANGE:	20061002
</SEC-HEADER>
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    <title>tm2222499-1_s3 - none - 7.8437808s</title>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="text-align:center; width:541.31pt; line-height:10pt;font-weight:bold;">
          <font style="letter-spacing:-0.16pt;">As filed with the Securities and Exchange Commission August&#160;5, 2022</font><font style="font-weight:normal;letter-spacing:0.16pt;"> </font>
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          <font style="letter-spacing:-0.16pt;">Registration No. 333-&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;</font>&#8203;</div>
        <div style="margin-top:0.2pt; width:541.31pt;">
          <div style="margin-left: 0pt; width: 541.31pt; margin-top: 0.199999999999999pt; font-size: 2pt; line-height: 0pt; border-bottom: 2pt solid #000000; ">&#8203;</div>
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          <font style="letter-spacing:-0.28pt;">UNITED STATES </font>
          <br >
          <font style="letter-spacing:-0.28pt;">SECURITIES AND EXCHANGE COMMISSION </font>
          <br >
          <font style="font-size:7.5pt;letter-spacing:-0.15pt;">WASHINGTON, D.C. 20549</font><font style="font-weight:normal;letter-spacing:0.28pt;"> </font>
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        <div style="margin-top:8.533pt; text-align:center; width:541.31pt;">
          <div style="margin-left: 40.024%; margin-right: 40.024%; margin-top: 8.53333333333333pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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          <font style="letter-spacing:-0.28pt;">FORM S-3</font><font style="font-weight:normal;letter-spacing:0.28pt;"> </font>
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        <div style="margin-top:1.71pt; text-align:center; width:541.31pt; line-height:9.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.16pt;">REGISTRATION STATEMENT </font>
          <br >
          <font style="letter-spacing:-0.16pt;">UNDER </font>
          <br >
          <font style="letter-spacing:-0.16pt;">THE SECURITIES ACT OF 1933</font><font style="font-weight:normal;letter-spacing:0.16pt;"> </font>
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        <div style="margin-top:5.7pt; text-align:center; width:541.31pt; line-height:16pt;font-weight:bold;font-size:14pt;">
          <font style="letter-spacing:-0.28pt;">PROTAGONIST THERAPEUTICS, INC.</font><font style="font-weight:normal;letter-spacing:0.28pt;"> </font>
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          <font style="letter-spacing:0.16pt;">(Exact name of registrant as specified in its charter) </font>
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          <div style="margin-left: 40.024%; margin-right: 40.024%; margin-top: 6.21000000000001pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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          <tr style="line-height:9.58pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:172.44pt;">
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                <font style="font-weight:bold;letter-spacing:-0.16pt;">Delaware</font><font style="letter-spacing:0.16pt;"> </font>
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                <font style="letter-spacing:0.16pt;">(State or other jurisdiction of</font>
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                <font style="letter-spacing:0.16pt;">incorporation or organization) </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
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              <div style="text-align:center; line-height:9.59pt;">
                <font style="font-weight:bold;letter-spacing:-0.16pt;">001-37852</font><font style="letter-spacing:0.16pt;"> </font>
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                <font style="letter-spacing:0.16pt;">(Commission File Number) </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:172.43pt;">
              <div style="text-align:center; line-height:9.59pt;">
                <font style="font-weight:bold;letter-spacing:-0.16pt;">98-0505495</font><font style="letter-spacing:0.16pt;"> </font>
                <br >
                <font style="letter-spacing:0.16pt;">(I.R.S. Employer</font>
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                <font style="letter-spacing:0.16pt;">Identification Number)</font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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        <div style="margin-top:7.7pt; text-align:center; width:541.31pt; line-height:9.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.16pt;">7707 Gateway Boulevard, Suite 140 </font>
          <br >
          <font style="letter-spacing:-0.16pt;">Newark, CA 94560-1160 </font>
          <br >
          <font style="letter-spacing:-0.16pt;">(510) 474-0170 </font>
          <br >
          <font style="font-weight:normal;letter-spacing:0.16pt;">(Address, including zip code, and telephone number, including </font>
          <br >
          <font style="font-weight:normal;letter-spacing:0.16pt;">area code, of registrant&#8217;s principal executive offices) </font>
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          <font style="letter-spacing:-0.16pt;">Dinesh V. Patel, Ph.D. </font>
          <br >
          <font style="letter-spacing:-0.16pt;">President and Chief Executive Officer </font>
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          <font style="letter-spacing:-0.16pt;">Protagonist Therapeutics, Inc. </font>
          <br >
          <font style="letter-spacing:-0.16pt;">7707 Gateway Boulevard, Suite 140 </font>
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          <font style="letter-spacing:-0.16pt;">Newark, CA 94560-1160 </font>
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          <font style="letter-spacing:-0.16pt;">(510) 474-0170 </font>
          <br >
          <font style="font-weight:normal;letter-spacing:0.16pt;">(Name, address, including zip code, and telephone number, including </font>
          <br >
          <font style="font-weight:normal;letter-spacing:0.16pt;">area code, of agent for service) </font>
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        <div style="margin-top:6.2pt; text-align:center; width:541.31pt;">
          <div style="margin-left: 40.024%; margin-right: 40.024%; margin-top: 6.19999999999999pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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          <font style="letter-spacing:-0.16pt;">With copies to:</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.16pt;"> </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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              <div style="text-align:center; line-height:9.59pt;">
                <font style="letter-spacing:-0.16pt;">Ryan A. Murr</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Branden C. Berns</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Gibson, Dunn &amp; Crutcher LLP</font>
                <br >
                <font style="letter-spacing:-0.16pt;">555 Mission Street</font>
                <br >
                <font style="letter-spacing:-0.16pt;">San Francisco, CA 94105-0921</font>
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                <font style="letter-spacing:-0.16pt;">(415) 393-8373</font>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:264.65pt;">
              <div style="text-align:center; line-height:9.59pt;">
                <font style="letter-spacing:-0.16pt;">Matthew Gosling</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Executive Vice President, General Counsel</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Protagonist Therapeutics, Inc.</font>
                <br >
                <font style="letter-spacing:-0.16pt;">7707 Gateway Boulevard, Suite 140</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Newark, CA 94560-1160</font>
                <br >
                <font style="letter-spacing:-0.16pt;">(510) 474-0170</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:8.81pt; text-align:center; width:541.31pt;">
          <div style="margin-left: 40.024%; margin-right: 40.024%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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        <div style="margin-left:20pt; margin-top:5.3pt; width:521.31pt; line-height:10pt;font-weight:bold;">
          <font style="letter-spacing:-0.16pt;">Approximate date of commencement of proposed sale to the public: From time to time after this registration statement becomes effective.</font><font style="font-weight:normal;letter-spacing:0.16pt;"> </font>
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        <div style="text-indent:20pt; margin-top:1.5pt; width:541.31pt; line-height:9.5pt;">
          <font style="letter-spacing:0.16pt;">If the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box.&#160;&#9744; </font>
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        <div style="text-indent:20pt; margin-top:1.5pt; width:541.31pt; line-height:9.5pt;">
          <font style="letter-spacing:0.16pt;">If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule&#160;415 under the Securities Act of 1933, as amended, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box: &#9746; </font>
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        <div style="text-indent:20pt; margin-top:1.5pt; width:541.31pt; line-height:9.5pt;">
          <font style="letter-spacing:0.16pt;">If this Form is filed to register additional securities for an offering pursuant to Rule&#160;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. &#9744; </font>
        </div>
        <div style="text-indent:20pt; margin-top:1.5pt; width:541.31pt; line-height:9.5pt;">
          <font style="letter-spacing:0.16pt;">If this Form is a post-effective amendment filed pursuant to Rule&#160;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. &#9744; </font>
        </div>
        <div style="text-indent:20pt; margin-top:1.5pt; width:541.31pt; line-height:9.5pt;">
          <font style="letter-spacing:0.16pt;">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&#160;462(e) under the Securities Act, check the following box. &#9744; </font>
        </div>
        <div style="text-indent:20pt; margin-top:1.5pt; width:541.31pt; line-height:9.5pt;">
          <font style="letter-spacing:0.16pt;">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&#160;413(b) under the Securities Act, check the following box. &#9744; </font>
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        <div style="text-indent:20pt; margin-top:1.5pt; width:541.31pt; line-height:9.5pt;">
          <font style="letter-spacing:0.16pt;">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 &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company,&#8221; and &#8220;emerging growth company&#8221; in Rule&#160;12b-2 of the Exchange Act. (Check one): </font>
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          <tr style="line-height:7.98000000000002pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:244.66pt;">
              <div style=" float:left; line-height:8pt; text-align:left; width:84pt;white-space:nowrap;">
                <font style="letter-spacing:0.16pt;">Large accelerated filer</font>
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              </div>
              <div style=" line-height:8pt; text-align:left; margin-left:84pt;">
                <font style="letter-spacing:0.16pt;">&#9746; </font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:244.65pt;">
              <div style=" float:left; line-height:8pt; text-align:left; width:108pt;white-space:nowrap;">
                <font style="letter-spacing:0.16pt;">Accelerated filer</font>
                <br >
              </div>
              <div style=" line-height:8pt; text-align:left; margin-left:108pt;">
                <font style="letter-spacing:0.16pt;">&#9744; </font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.98000000000002pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:1.503pt 0pt 0.5pt 0pt; width:244.66pt;">
              <div style=" float:left; line-height:8pt; text-align:left; width:84pt;white-space:nowrap;">
                <font style="letter-spacing:0.16pt;">Non-accelerated filer</font>
                <br >
              </div>
              <div style=" line-height:8pt; text-align:left; margin-left:84pt;">
                <font style="letter-spacing:0.16pt;">&#9744; </font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.503pt 0pt 0.5pt 0pt; width:244.65pt;">
              <div style=" float:left; line-height:8pt; text-align:left; width:108pt;white-space:nowrap;">
                <font style="letter-spacing:0.16pt;">Smaller reporting company</font>
                <br >
              </div>
              <div style=" line-height:8pt; text-align:left; margin-left:108pt;">
                <font style="letter-spacing:0.16pt;">&#9744; </font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:7.98000000000002pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:244.66pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.503pt 0pt 0.5pt 0pt; width:244.65pt;white-space:normal;">
              <div style=" float:left; line-height:8pt; text-align:left; width:108pt;white-space:nowrap;">
                <font style="letter-spacing:0.16pt;">Emerging growth company</font>
                <br >
              </div>
              <div style=" line-height:8pt; text-align:left; margin-left:108pt;">
                <font style="letter-spacing:0.16pt;">&#9744;</font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:9.3pt; width:541.31pt; line-height:9.5pt;">
          <font style="letter-spacing:0.16pt;">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&#160;7(a)(2)(B) of the Securities Act. &#9744; </font>
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        <div style="text-indent:20pt; margin-top:1.5pt; width:541.31pt; line-height:9.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.16pt;">The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section&#160;8(a) of the Securities Act of 1933, as amended, or until this registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section&#160;8(a), may determine.</font>
        </div>
        <div style="margin-top:2.3pt; width:541.31pt;">
          <div style="margin-left: 0pt; width: 541.31pt; margin-top: 2.30000000000007pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:2.8pt; width:541.31pt;">
          <div style="margin-left: 0pt; width: 541.31pt; margin-top: 2.79999999999995pt; font-size: 2pt; line-height: 0pt; border-bottom: 2pt solid #000000; ">&#8203;</div>
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;height:660pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">EXPLANATORY NOTE</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This registration statement contains the following documents: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">a base prospectus which covers the offering, issuance and sale by us of up to a maximum aggregate offering price of $300,000,000 of common stock, preferred stock, debt securities, warrants and/or units from time to time in one or more offerings; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">a sales agreement prospectus supplement covering the offering, issuance and sale by us of up to a maximum aggregate offering price of $100,000,000 of our common stock that may be issued and sold under an Open Market Sale Agreement</font><font style=" position:relative; bottom:4.25pt;font-size:7.5pt;letter-spacing:0.15pt;">SM</font><font style="letter-spacing:0.2pt;">, dated August&#160;5, 2022, with Jefferies LLC (&#8220;Jefferies&#8221;) (the &#8220;Sales Agreement&#8221;). </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The base prospectus immediately follows this explanatory note. The specific terms of any securities to be offered pursuant to the base prospectus other than the shares under the Sales Agreement will be specified in a prospectus supplement to the base prospectus. The specific terms of the securities to be issued and sold under the Sales Agreement are specified in the sales agreement prospectus supplement that immediately follows the base prospectus. The $100,000,000 of shares of common stock that may be offered, issued and sold under the sales agreement prospectus supplement is included in the $300,000,000 of securities that may be offered, issued and sold by the registrant under the base prospectus. Upon termination of the Sales Agreement, any portion of the $100,000,000 included in the sales agreement prospectus supplement that is not sold pursuant to the Sales Agreement will be available for sale in other offerings pursuant to the base prospectus, and if no shares of common stock are sold under the Sales Agreement, the full $300,000,000 of securities may be sold in other offerings pursuant to the base prospectus and a corresponding prospectus supplement.</font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;margin-bottom:35.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="position:relative;overflow-x:hidden;min-height:775.71pt;page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="position:absolute;top:738.83pt;left:48.66pt;height:30.02pt;width:706pt;transform-origin:0pt -0pt;transform:rotate(-90deg) translate(0%, 0%);">
        <div style="text-align:justify; width:706pt; line-height:9.5pt;font-weight:bold;color:#FC0014;font-family:Helvetica, Arial, sans-serif;font-size:8pt;">
          <font style="letter-spacing:-0.08pt;">The information in this prospectus is not complete and may be changed. We may not sell these securities or accept an offer to buy these securities until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and it is not soliciting offers to buy these securities in any jurisdiction where such offer or sale is not permitted.</font><font style="color:#000000;letter-spacing:-0.08pt;"> </font>
          <br >
        </div>
      </div>
      <div style="margin-top:27.85pt;min-height:706pt;margin-left:87.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;color:#FC0014;">
          <font style="letter-spacing:-0.2pt;">Subject to Completion, Dated August&#160;5, 2022</font><font style="font-weight:normal;color:#000000;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">PROSPECTUS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="position:relative;margin-top:10pt; text-align:center; width:456pt;">
          <img src="lg_protagonist-pn.jpg" alt="[MISSING IMAGE: lg_protagonist-pn.jpg]" height="81" width="325" >
        </div>
        <div style="margin-top:17pt; text-align:center; width:456pt; line-height:16pt;font-weight:bold;font-size:14pt;">
          <font style="letter-spacing:-0.28pt;">COMMON STOCK </font>
          <br >
          <font style="letter-spacing:-0.28pt;">PREFERRED STOCK </font>
          <br >
          <font style="letter-spacing:-0.28pt;">DEBT SECURITIES </font>
          <br >
          <font style="letter-spacing:-0.28pt;">WARRANTS </font>
          <br >
          <font style="letter-spacing:-0.28pt;">UNITS</font><font style="font-weight:normal;letter-spacing:0.28pt;"> </font>
        </div>
        <div style="margin-top:10.167pt; text-align:center; width:456pt;">
          <div style="margin-left: 38.158%; margin-right: 38.158%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="text-indent:20pt; margin-top:12pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">From time to time, we may issue, in one or more series or classes, up to an aggregate of $300,000,000 of our common stock, preferred stock, debt securities, warrants and/or&#160;units, at prices and on terms that we will determine at the time of the offering. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This prospectus provides you with a general description of the securities we may offer. Each time we offer securities, we will provide specific terms of the securities offered in a supplement to this prospectus. We may also authorize one or more free writing prospectuses to be provided to you in connection with these offerings. The prospectus supplement and any related free writing prospectus may also add, update or change information contained in this prospectus. We may not sell any securities under this prospectus without delivery of the applicable prospectus supplement. If information in any prospectus supplement is inconsistent with the information in this prospectus, then the information in that prospectus supplement will apply and will supersede the information in this prospectus. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">You should read this prospectus, the applicable prospectus supplement and any related free writing prospectus carefully, as well as any documents incorporated by reference, before you invest in any of the securities being offered. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Our shares of common stock are listed on The Nasdaq Global Market under the symbol &#8220;PTGX.&#8221; The last reported sale price of our common stock on The Nasdaq Global Market on August&#160;2, 2022 was $10.63 per share. We recommend that you obtain current market quotations for our common stock prior to making an investment decision. </font>
        </div>
        <div style="margin-top:18.5pt; text-align:center; width:456pt;">
          <div style="margin-left: 38.158%; margin-right: 38.158%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="text-indent:20pt; margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Investing in our securities involves a high degree of risk. You should review carefully the risks and uncertainties described under the heading &#8220;Risk Factors&#8221; contained in this prospectus beginning on page <a href="#tRIFA">4</a> and any applicable prospectus supplement, and under similar headings in the other documents that are incorporated by reference into this prospectus.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:18.5pt; text-align:center; width:456pt;">
          <div style="margin-left: 38.158%; margin-right: 38.158%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:100pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Prospectus dated &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;, 2022</font>
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="TOC">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;height:660pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">TABLE OF CONTENTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:456pt;height:220pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:434pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tATP"><font style="letter-spacing:0.2pt;">ABOUT THIS PROSPECTUS</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tATP">1</a></font> <a href="#tATP"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:434pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tCSCFL"><font style="letter-spacing:0.2pt;">CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tCSCFL">2</a></font> <a href="#tCSCFL"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:434pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tTHCO"><font style="letter-spacing:0.2pt;">THE COMPANY</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tTHCO">3</a></font> <a href="#tTHCO"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:434pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tRIFA"><font style="letter-spacing:0.2pt;">RISK FACTORS</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tRIFA">4</a></font> <a href="#tRIFA"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:434pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tUOP"><font style="letter-spacing:0.2pt;">USE OF PROCEEDS</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tUOP">5</a></font> <a href="#tUOP"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:434pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tSWO"><font style="letter-spacing:0.2pt;">SECURITIES WE MAY OFFER </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tSWO">6</a></font> <a href="#tSWO"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:434pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tDOCS"><font style="letter-spacing:0.2pt;">DESCRIPTION OF CAPITAL STOCK</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tDOCS">7</a></font> <a href="#tDOCS"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:434pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tDODS"><font style="letter-spacing:0.2pt;">DESCRIPTION OF DEBT SECURITIES </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
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            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
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              <font style="letter-spacing:0.2pt;"><a href="#tDODS">11</a></font> <a href="#tDODS"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:434pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tDOW"><font style="letter-spacing:0.2pt;">DESCRIPTION OF WARRANTS </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tDOW">22</a></font> <a href="#tDOW"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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                <a href="#tDOU"><font style="letter-spacing:0.2pt;">DESCRIPTION OF UNITS </font></a>
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              <font style="letter-spacing:0.2pt;"><a href="#tDOU">23</a></font> <a href="#tDOU"></a></td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:434pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tPOD"><font style="letter-spacing:0.2pt;">PLAN OF DISTRIBUTION </font></a>
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              <font style="letter-spacing:0.2pt;"><a href="#tPOD">26</a></font> <a href="#tPOD"></a></td>
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            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:434pt;text-align:left;">
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                <a href="#tLEMA"><font style="letter-spacing:0.2pt;">LEGAL MATTERS </font></a>
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              <font style="letter-spacing:0.2pt;"><a href="#tLEMA">28</a></font> <a href="#tLEMA"></a></td>
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                <a href="#tEXP"><font style="letter-spacing:0.2pt;">EXPERTS </font></a>
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              <font style="letter-spacing:0.2pt;"><a href="#tEXP">28</a></font> <a href="#tEXP"></a></td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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              <div style="white-space:nowrap;">
                <a href="#tWCFM"><font style="letter-spacing:0.2pt;">WHERE YOU CAN FIND MORE INFORMATION </font></a>
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              <font style="letter-spacing:0.2pt;"><a href="#tWCFM">29</a></font> <a href="#tWCFM"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:434pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tIOCIBR"><font style="letter-spacing:0.2pt;">INCORPORATION OF CERTAIN INFORMATION BY REFERENCE </font></a>
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              <font style="letter-spacing:0.2pt;"><a href="#tIOCIBR">30</a></font>
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      <div style="margin-top:2.00000000000002pt;margin-bottom:35.86pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tATP">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
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      <div style="margin-top:6pt;margin-bottom:192pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ABOUT THIS PROSPECTUS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This prospectus is a part of a registration statement on Form S-3 that we filed with the Securities and Exchange Commission (the &#8220;SEC&#8221; or the &#8220;Commission&#8221;) utilizing a &#8220;shelf&#8221; registration process. Under this shelf registration process, we may sell any combination of the securities described in this prospectus in one or more offerings up to a total dollar amount of $300,000,000. This prospectus provides you with a general description of the securities we may offer. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Each time we sell securities under this prospectus, we will provide a prospectus supplement that will contain specific information about the terms of that offering. We may also authorize one or more free writing prospectuses to be provided to you that may contain material information relating to these offerings. The prospectus supplement and any related free writing prospectus that we may authorize to be provided to you may also add, update or change information contained in this prospectus or in any documents that we have incorporated by reference into this prospectus. You should carefully read both this prospectus and any prospectus supplement together with additional information under the headings &#8220;Where You Can Find More Information&#8221; and &#8220;Incorporation of Certain Information by Reference.&#8221; </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We have not authorized anyone to provide you with any information other than that contained or incorporated by reference in this prospectus and any applicable prospectus supplement, along with the information contained in any free writing prospectuses we have authorized for use in connection with a specific offering. We take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. This prospectus is an offer to sell only the securities offered hereby, but only under circumstances and in jurisdictions where it is lawful to do so. This prospectus, any applicable supplement to this prospectus or any related free writing prospectus do not constitute an offer to sell or the solicitation of an offer to buy any securities other than the registered securities to which they relate, nor do this prospectus, any applicable supplement to this prospectus or any related free writing prospectus constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">You should not assume that the information contained in this prospectus, any applicable prospectus supplement or any related free writing prospectus is accurate on any date subsequent to the date set forth on the front of the document or that any information we have incorporated by reference is correct on any date subsequent to the date of the document incorporated by reference, even though this prospectus, any applicable prospectus supplement or any related free writing prospectus is delivered, or securities are sold, on a later date. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Unless the context otherwise requires, we use the terms &#8220;Protagonist,&#8221; the &#8220;company,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; and &#8220;our&#8221; in this prospectus to refer to Protagonist Therapeutics, Inc. and, where appropriate, our subsidiaries. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">1</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tCSCFL">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:136pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This prospectus and the documents that we have filed with the SEC that are incorporated by reference herein contain forward-looking statements, including statements regarding our future financial condition, business strategy and plans and objectives of management for future operations. Forward-looking statements include all statements that are not historical facts. In some cases, you can identify forward-looking statements by terminology such as &#8220;believe,&#8221; &#8220;will,&#8221; &#8220;may,&#8221; &#8220;estimate,&#8221; &#8220;continue,&#8221; &#8220;anticipate,&#8221; &#8220;intend,&#8221; &#8220;should,&#8221; &#8220;plan,&#8221; &#8220;might,&#8221; &#8220;approximately,&#8221; &#8220;expect,&#8221; &#8220;predict,&#8221; &#8220;could,&#8221; &#8220;potentially&#8221; or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places throughout this prospectus, the documents incorporated by reference and any free writing prospectus that we have authorized for use in connection with this offering and include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things, the potential for our programs, the timing of our clinical trials, the potential for eventual regulatory approval and commercialization of our product candidates and our potential receipt of milestone payments and royalties under our collaboration agreements; future operating results or the ability to generate sales, income or cash flow, and the impact of the ongoing COVID-19 pandemic, are forward-looking statements. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Discussions containing these forward-looking statements may be found, among other places, in the section of this prospectus under the heading &#8220;Risk Factors&#8221; and in the sections entitled &#8220;Business&#8221; and &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221; incorporated by reference from our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, as well as any amendments thereto, filed with the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;). These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that could cause our actual results, levels of activity, performance or achievement to differ materially from those expressed or implied by these forward-looking statements. These statements reflect our current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. We discuss in greater detail many of these risks under the heading &#8220;Risk Factors&#8221; and elsewhere in this prospectus and in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, as well as any amendments thereto reflected in subsequent filings with the SEC and in the other documents incorporated by reference herein. Also, these forward-looking statements represent our estimates and assumptions only as of the date of the document containing the applicable statement and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In addition, statements such as &#8220;we believe&#8221; and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this prospectus, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements. </font>
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      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">2</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tTHCO">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:468pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE COMPANY</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We are a biopharmaceutical company with peptide-based new chemical entities rusfertide, PN-943 and PN-235 in different stages of development, all derived from the Company&#8217;s proprietary discovery technology platform. Our clinical programs fall into two broad categories of diseases; (i)&#160;hematology and blood disorders, and (ii)&#160;inflammatory and immunomodulatory diseases. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Corporate Information</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Our principal executive offices are located at 7707 Gateway Boulevard, Suite 140, Newark, California&#160;94560. Our telephone number is (510) 474-0170. Our website address is www.protagonist-inc.com. References to our website address do not constitute incorporation by reference of the information contained on the website, and the information contained on the website is not part of this document. We have included our website in this prospectus solely as an inactive textual reference. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">3</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tRIFA">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:468pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">RISK FACTORS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Investing in our securities involves risks. You should carefully consider the risks, uncertainties and other factors described in our most recent Annual Report on Form 10-K, as supplemented and updated by subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that we have filed or will file with the SEC, and in other documents which are incorporated by reference into this prospectus, as well as the risk factors and other information contained in or incorporated by reference into any accompanying prospectus supplement before investing in any of our securities. Our business, financial condition, results of operations, cash flows or prospects could be materially and adversely affected by any of these risks. The risks and uncertainties described in the documents incorporated by reference herein are not the only risks and uncertainties that you may face. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">For more information about our SEC filings, please see &#8220;Where You Can Find More Information&#8221; and &#8220;Incorporation of Certain Information by Reference.&#8221; </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">4</font>
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          <font style="letter-spacing:-0.2pt;">USE OF PROCEEDS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Except as described in any applicable prospectus supplement or in any free writing prospectuses we have authorized for use in connection with a specific offering, we currently intend to use the net proceeds from the sale of the securities offered by us hereunder for working capital and general corporate purposes, which may include, among other things, funding research and development, clinical trials, vendor payables, potential regulatory submissions, hiring additional personnel and capital expenditures. Our expected use of proceeds from the sale of the securities offered hereby represents our current intentions based on our present plans and business condition. As of the date of this prospectus, we cannot predict with certainty all of the particular uses for the proceeds to be received from the sale of the securities offered hereby or the amounts that we will actually spend on the uses set forth above. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Pending the use of the net proceeds, we may invest the proceeds in interest-bearing, investment-grade securities, certificates of deposit or government securities. When we offer and sell the securities to which this prospectus relates, the prospectus supplement related to such offering will set forth our intended use of the proceeds, if any, received from the sale of such securities. </font>
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          <font style="letter-spacing:0.2pt;">5</font>
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          <font style="letter-spacing:-0.2pt;">SECURITIES WE MAY OFFER</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">This prospectus contains summary descriptions of the securities we may offer from time to time. These summary descriptions are not meant to be complete descriptions of each security. The particular terms of any security will be described in the applicable prospectus supplement.</font>
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          <font style="letter-spacing:0.2pt;">6</font>
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          <font style="letter-spacing:-0.2pt;">DESCRIPTION OF CAPITAL STOCK</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The description below of our capital stock and provisions of our amended and restated certificate of incorporation (our &#8220;certificate of incorporation&#8221;) and amended and restated bylaws (our &#8220;bylaws&#8221;) are summaries and are qualified by reference to our certificate of incorporation and our bylaws which are filed as exhibits to the registration statement of which this prospectus is part, and by the applicable provisions of Delaware law. For more information on how you can obtain our certificate of incorporation and our bylaws, see the heading &#8220;Where You Can Find More Information.&#8221;</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">As of the date of this prospectus, our certificate of incorporation, authorizes us to issue up to 90,000,000 shares of common stock, $0.00001 par value per share, and 10,000,000 shares of preferred stock, $0.00001 par value per share. As of June&#160;30, 2022, 48,683,931 shares of common stock were outstanding and no shares of preferred stock were outstanding. </font>
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          <font style="letter-spacing:-0.2pt;">Common Stock</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:-0.2pt;">Voting Rights</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Holders of our common stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders, including the election of directors, and do not have cumulative voting rights. Accordingly, the holders of a majority of the outstanding shares of common stock entitled to vote in any election of directors can elect all of the directors standing for election, if they so choose, other than any directors that holders of any preferred stock we may issue may be entitled to elect. </font>
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          <font style="letter-spacing:-0.2pt;">Dividend Rights</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Subject to preferences that may be applicable to any then outstanding preferred stock, holders of common stock are entitled to receive ratably those dividends, if any, as may be declared by the board of directors out of legally available funds. </font>
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          <font style="letter-spacing:-0.2pt;">Liquidation</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In the event of our liquidation, dissolution or winding up, the holders of common stock will be entitled to share ratably in the assets legally available for distribution to stockholders after the payment of or provision for all of our debts and other liabilities, subject to the prior rights of any preferred stock then outstanding. </font>
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          <font style="letter-spacing:-0.2pt;">Rights and Preferences</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Holders of common stock have no preemptive or conversion rights or other subscription rights and there are no redemption or sinking funds provisions applicable to the common stock. The rights, preferences and privileges of holders of common stock are subject to and may be adversely affected by the rights of the holders of shares of any series of preferred stock that we may designate and issue in the future. </font>
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          <font style="letter-spacing:-0.2pt;">Anti-Takeover Effects of Delaware Law and our Certificate of Incorporation and Bylaws</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Some provisions of Delaware law, our certificate of incorporation and our bylaws contain provisions that could make the following transactions more difficult: an acquisition of us by means of a tender offer; an acquisition of us by means of a proxy contest or otherwise; or the removal of our incumbent officers and directors. It is possible that these provisions could make it more difficult to accomplish or could deter transactions that stockholders may otherwise consider to be in their best interest or in our best interests, including transactions which provide for payment of a premium over the market price for our shares. </font>
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          <font style="letter-spacing:0.2pt;">These provisions, summarized below, are intended to discourage coercive takeover practices and inadequate takeover bids. These provisions are also designed to encourage persons seeking to acquire control of us to first negotiate with our board of directors. We believe that the benefits of the increased protection of our potential ability to negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure us outweigh the disadvantages of discouraging these proposals because negotiation of these proposals could result in an improvement of their terms. </font>
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          <font style="letter-spacing:0.2pt;">7</font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Undesignated Preferred Stock</font><font style="letter-spacing:0.2pt;">&#8201;&#8212;&#8201;The ability to authorize undesignated preferred stock makes it possible for our board of directors to issue preferred stock with voting or other rights or preferences that could impede the success of any attempt to change control of us. These and other provisions may have the effect of deterring hostile takeovers or delaying changes in control or management of our company. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Stockholder Meetings</font><font style="letter-spacing:0.2pt;">&#8201;&#8212;&#8201;Our bylaws provide that a special meeting of stockholders may be called only by our chairman of the board, chief executive officer or president, or by a resolution adopted by a majority of our board of directors. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Requirements for Advance Notification of Stockholder Nominations and Proposals</font><font style="letter-spacing:0.2pt;">&#8201;&#8212;&#8201;Our bylaws establish advance notice procedures with respect to stockholder proposals to be brought before a stockholder meeting and the nomination of candidates for election as directors, other than nominations made by or at the direction of the board of directors or a committee of the board of directors. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Elimination of Stockholder Action by Written Consent</font><font style="letter-spacing:0.2pt;">&#8201;&#8212;&#8201;Our certificate of incorporation and our bylaws eliminate the right of stockholders to act by written consent without a meeting. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Staggered Board</font><font style="letter-spacing:0.2pt;">&#8201;&#8212;&#8201;Our board of directors is divided into three classes. The directors in each class will serve for a three-year term, one class being elected each year by our stockholders. This system of electing and removing directors may tend to discourage a third-party from making a tender offer or otherwise attempting to obtain control of us, because it generally makes it more difficult for stockholders to replace a majority of the directors. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Removal of Directors</font><font style="letter-spacing:0.2pt;">&#8201;&#8212;&#8201;Our certificate of incorporation provides that no member of our board of directors may be removed from office by our stockholders except for cause and, in addition to any other vote required by law, upon the approval of not less than two thirds of the total voting power of all of our outstanding voting stock then entitled to vote in the election of directors. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Stockholders Not Entitled to Cumulative Voting</font><font style="letter-spacing:0.2pt;">&#8201;&#8212;&#8201;Our certificate of incorporation does not permit stockholders to cumulate their votes in the election of directors. Accordingly, the holders of a majority of the outstanding shares of our common stock entitled to vote in any election of directors can elect all of the directors standing for election, if they choose, other than any directors that holders of our preferred stock may be entitled to elect. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Delaware Anti-Takeover Statute</font><font style="letter-spacing:0.2pt;">&#8201;&#8212;&#8201;We are subject to Section&#160;203 of the Delaware General Corporation Law, which prohibits persons deemed to be &#8220;interested stockholders&#8221; from engaging in a &#8220;business combination&#8221; with a publicly held Delaware corporation for three&#160;years following the date these persons become interested stockholders unless the business combination is, or the transaction in which the person became an interested stockholder was, approved in a prescribed manner or another prescribed exception applies. Generally, an &#8220;interested stockholder&#8221; is a person who, together with affiliates and associates, owns, or within three&#160;years prior to the determination of interested stockholder status did own, 15% or more of a corporation&#8217;s voting stock. Generally, a &#8220;business combination&#8221; includes a merger, asset or stock sale, or other transaction resulting in a financial benefit to the interested stockholder. The existence of this provision may have an anti-takeover effect with respect to transactions not approved in advance by the board of directors. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Choice of Forum</font><font style="letter-spacing:0.2pt;">&#8201;&#8212;&#8201;Our certificate of incorporation provides that, unless we consent in writing to the selection of an alternative form, the Court of Chancery of the State of Delaware is the exclusive forum for the following types of actions or proceedings under Delaware statutory or common law: (1)&#160;any derivative action or proceeding brought on our behalf; (2)&#160;any action asserting a claim of breach of a fiduciary duty or other wrongdoing by any of our directors, officers, employees or agents to us or our stockholders; (3)&#160;any action asserting a claim against us arising pursuant to any provision of the General Corporation Law of the State of Delaware or our certificate of incorporation or bylaws; (4)&#160;any action to interpret, apply, enforce or determine the validity of our certificate of incorporation or bylaws; or (5)&#160;any action asserting a claim governed by the internal affairs doctrine. This provision does not apply to suits brought to enforce a duty or liability created by the Exchange Act or any other claim for which the U.S. federal courts have exclusive jurisdiction. Our certificate of incorporation also provides that any person or entity purchasing or otherwise acquiring any interest in shares of our capital stock will be deemed to have notice of and to have consented </font>
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          <font style="letter-spacing:0.2pt;">8</font>
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          <font style="letter-spacing:0.2pt;">to this choice of forum provision. It is possible that a court of law could rule that the choice of forum provision contained in our certificate of incorporation is inapplicable or unenforceable if it is challenged in a proceeding or otherwise. </font>
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          <font style="font-style:italic;letter-spacing:0.2pt;">Amendment of Charter Provisions</font><font style="letter-spacing:0.2pt;">&#8201;&#8212;&#8201;The amendment of any of the above provisions, except for the provision making it possible for our board of directors to issue preferred stock, would require approval by holders of at least two thirds of the total voting power of all of our outstanding voting stock. </font>
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          <font style="letter-spacing:0.2pt;">The provisions of Delaware law, our certificate of incorporation and our bylaws could have the effect of discouraging others from attempting hostile takeovers and, as a consequence, they may also inhibit temporary fluctuations in the market price of our common stock that often result from actual or rumored hostile takeover attempts. These provisions may also have the effect of preventing changes in the composition of our board and management. It is possible that these provisions could make it more difficult to accomplish transactions that stockholders may otherwise deem to be in their best interests. </font>
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          <font style="letter-spacing:-0.2pt;">Transfer Agent and Registrar</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The transfer agent and registrar for our common stock is American Stock Transfer &amp; Trust Company,&#160;LLC. The transfer agent&#8217;s address is 6201 15th Avenue, Brooklyn, New York 11219. The transfer agent for any series of preferred stock that we may offer under this prospectus will be named and described in the prospectus supplement for that series. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Listing</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Our common stock is listed on The Nasdaq Global Market under the symbol &#8220;PTGX.&#8221; The applicable prospectus supplement will contain information, where applicable, as to any other listing, if any, on the Nasdaq Global Market or any securities market or other exchange of the preferred stock covered by such prospectus supplement. </font>
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          <font style="letter-spacing:-0.2pt;">Preferred Stock</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Our board of directors may, without further action by our stockholders, fix the rights, preferences, privileges and restrictions of up to an aggregate of 10,000,000 shares of preferred stock in one or more series and authorize their issuance. These rights, preferences and privileges could include dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences, sinking fund terms and the number of shares constituting any series or the designation of such series, any or all of which may be greater than the rights of our common stock. The issuance of our preferred stock could adversely affect the voting power of holders of our common stock and the likelihood that such holders will receive dividend payments and payments upon liquidation. In addition, the issuance of preferred stock could have the effect of delaying, deferring or preventing a change of control or other corporate action. </font>
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          <font style="letter-spacing:0.2pt;">The following summary of terms of our preferred stock is not complete. You should refer to the provisions of our certificate of incorporation and bylaws and the resolutions containing the terms of each class or series of the preferred stock which have been or will be filed with the SEC at or prior to the time of issuance of such class or series of preferred stock and described in the applicable prospectus supplement. The applicable prospectus supplement may also state that any of the terms set forth herein are inapplicable to such series of preferred stock, provided that the information set forth in such prospectus supplement does not constitute material changes to the information herein such that it alters the nature of the offering or the securities offered. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We will fix the designations, voting powers, preferences and rights of the preferred stock of each series we issue under this prospectus, as well as the qualifications, limitations or restrictions thereof, in the certificate of designation relating to that series. We will file as an exhibit to the registration statement of which this prospectus is a part, or will incorporate by reference from reports that we file with the SEC, the form of any certificate of designation that describes the terms of the series of preferred stock we are offering. We will describe in the applicable prospectus supplement the terms of the series of preferred stock being offered, including, to the extent applicable: </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">9</font>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:78pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        </div>
        <div style=" line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the title and stated value; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the number of shares we are offering; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the liquidation preference per share; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the purchase price; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the dividend rate, period and payment date and method of calculation for dividends; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">whether dividends will be cumulative or non-cumulative and, if cumulative, the date from which dividends will accumulate; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the procedures for any auction and remarketing; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the provisions for a sinking fund; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the provisions for redemption or repurchase, if applicable, and any restrictions on our ability to exercise those redemption and repurchase rights; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">any listing of the preferred stock on any securities exchange or market; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">whether the preferred stock will be convertible into our common stock, and, if applicable, the conversion price, or how it will be calculated, and the conversion period; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">whether the preferred stock will be exchangeable into debt securities, and, if applicable, the exchange price, or how it will be calculated, and the exchange period; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">voting rights of the preferred stock; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">preemptive rights; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">restrictions on transfer, sale or other assignment; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">whether interests in the preferred stock will be represented by depositary shares; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">a discussion of material United States federal income tax considerations applicable to the preferred stock; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the relative ranking and preferences of the preferred stock as to dividend rights and rights if we liquidate, dissolve or wind up our affairs; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">any limitations on the issuance of any class or series of preferred stock ranking senior to or on a parity with the series of preferred stock as to dividend rights and rights if we liquidate, dissolve or wind up our affairs; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">any other specific terms, preferences, rights or limitations of, or restrictions on, the preferred stock. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If we issue shares of preferred stock under this prospectus, the shares will be fully paid and non-assessable. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The issuance of preferred stock could adversely affect the voting power of holders of common stock and reduce the likelihood that common stockholders will receive dividend payments and payments upon liquidation. The issuance could have the effect of decreasing the market price of the common stock. The issuance of preferred stock also could have the effect of delaying, deterring or preventing a change in control of us. </font>
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      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">10</font>
          <br >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tDODS">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">DESCRIPTION OF DEBT SECURITIES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The paragraphs below describe the general terms and provisions of the debt securities we may issue. When we offer to sell a particular series of debt securities, we will describe the specific terms of the securities in a supplement to this prospectus, including any additional covenants or changes to existing covenants relating to such series. The prospectus supplement also will indicate whether the general terms and provisions described in this prospectus apply to a particular series of debt securities. You should read the actual indenture if you do not fully understand a term or the way we use it in this prospectus. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We may offer senior or subordinated debt securities. Each series of debt securities may have different terms. The senior debt securities will be issued under one or more senior indentures, dated as of a date prior to such issuance, between us and the trustee identified in the applicable prospectus supplement, as amended or supplemented from time to time. We will refer to any such indenture throughout this prospectus as the &#8220;senior indenture.&#8221; Any subordinated debt securities will be issued under one or more separate indentures, dated as of a date prior to such issuance, between us and the trustee identified in the applicable prospectus supplement, as amended or supplemented from time to time. We will refer to any such indenture throughout this prospectus as the &#8220;subordinated indenture&#8221; and to the trustee under the senior or subordinated indenture as the &#8220;trustee.&#8221; The senior indenture and the subordinated indenture are sometimes collectively referred to in this prospectus as the &#8220;indentures.&#8221; The indentures will be subject to and governed by the Trust Indenture Act of 1939, as amended (the &#8220;Trust Indenture Act&#8221;). We included copies of the forms of the indentures as exhibits to our registration statement and they are incorporated into this prospectus by reference. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If we issue debt securities at a discount from their principal amount, then, for purposes of calculating the aggregate initial offering price of the offered securities issued under this prospectus, we will include only the initial offering price of the debt securities and not the principal amount of the debt securities. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We have summarized below the material provisions of the indentures and the debt securities, or indicated which material provisions will be described in the related prospectus supplement. The prospectus supplement relating to any particular securities offered will describe the specific terms of the securities, which may be in addition to or different from the general terms summarized in this prospectus. Because the summary in this prospectus and in any prospectus supplement does not contain all of the information that you may find useful, you should read the documents relating to the securities that are described in this prospectus or in any applicable prospectus supplement. Please read &#8220;Where You Can Find More Information&#8221; to find out how you can obtain a copy of those documents. Except as otherwise indicated, the terms of the indentures are identical. As used under this caption, the term &#8220;debt securities&#8221; includes the debt securities being offered by this prospectus and all other debt securities issued by us under the indentures. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">General</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The indentures: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">do not limit the amount of debt securities that we may issue; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">allow us to issue debt securities in one or more series; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">do not require us to issue all of the debt securities of a series at the same time; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">allow us to reopen a series to issue additional debt securities without the consent of the holders of the debt securities of such series. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Unless we give you different information in the applicable prospectus supplement, the senior debt securities will be unsubordinated obligations and will rank equally with all of our other senior unsecured and unsubordinated indebtedness. Payments on the subordinated debt securities will be subordinated to the prior payment in full of all of our senior indebtedness, as described under &#8220;Description of Debt Securities&#8201;&#8212;&#8201;Subordination&#8221; and in the applicable prospectus supplement. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Each indenture provides that we may, but need not, designate more than one trustee under an indenture. Any trustee under an indenture may resign or be removed and a successor trustee may be appointed to act with respect to the series of debt securities administered by the resigning or removed trustee. If two or more persons are acting as trustee with respect to different series of debt securities, each trustee shall be a </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">11</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">trustee of a trust under the applicable indenture separate and apart from the trust administered by any other trustee. Except as otherwise indicated in this prospectus, any action described in this prospectus to be taken by each trustee may be taken by each trustee with respect to, and only with respect to, the one or more series of debt securities for which it is trustee under the applicable indenture. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The prospectus supplement for each offering will provide the following terms, where applicable: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.81pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.81pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the title of the debt securities and whether they are senior or subordinated; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the aggregate principal amount of the debt securities being offered, the aggregate principal amount of the debt securities outstanding as of the most recent practicable date and any limit on their aggregate principal amount, including the aggregate principal amount of debt securities authorized; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.21pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.21pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the price at which the debt securities will be issued, expressed as a&#160;percentage of the principal and, if other than the principal amount thereof, the portion of the principal amount thereof payable&#160;upon declaration of acceleration of the maturity thereof or, if applicable, the portion of the principal amount of such debt securities that is convertible into common stock or other securities of ours or the method by which any such portion shall be determined; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.21pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.21pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">if convertible, the terms on which such debt securities are convertible, including the initial conversion price or rate and the conversion period and any applicable limitations on the ownership or transferability of common stock or other securities of ours received on conversion; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the date or dates, or the method for determining the date or dates, on which the principal of the debt securities will be payable; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.21pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.21pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the fixed or variable interest rate or rates of the debt securities, or the method by which the interest rate or rates is determined; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the date or dates, or the method for determining the date or dates, from which interest will accrue; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.21pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.21pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the dates on which interest will be payable; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.1pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the record dates for interest payment dates, or the method by which such dates will be determined; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.11pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.11pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the persons to whom interest will be payable; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.1pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the basis upon which interest will be calculated if other than that of a 360-day year of twelve 30-day months; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.1pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">any make-whole amount, which is the amount in addition to principal and interest that is required to be paid to the holder of a debt security as a result of any optional redemption or accelerated payment of such debt security, or the method for determining the make-whole amount; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.11pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.11pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the place or places where the principal of, and any premium or make-whole amount, and interest on, the debt securities will be payable; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.1pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">where the debt securities may be surrendered for registration of transfer or conversion or exchange; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.11pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.11pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">where notices or demands to or upon us in respect of the debt securities and the applicable indenture may be served; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.11pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.11pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the times, prices and other terms and conditions upon which we may redeem the debt securities; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.1pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">any obligation we have to redeem, repay or purchase the debt securities pursuant to any sinking fund or analogous provision or at the option of holders of the debt securities, and the times and prices at which we must redeem, repay or purchase the debt securities as a result of such obligation; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.11pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.11pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the currency or currencies in which the debt securities are denominated and payable if other than United States dollars, which may be a foreign currency or&#160;units of two or more foreign currencies or a composite currency or currencies and the terms and conditions relating thereto, and the manner of determining the equivalent of such foreign currency in United States dollars; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.11pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.11pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">whether the principal of, and any premium or make-whole amount, or interest on, the debt securities of the series are to be payable, at our election or at the election of a holder, in a currency or currencies other than that in which the debt securities are denominated or stated to be payable, and other related terms and conditions; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">12</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">whether the amount of payments of principal of, and any premium or make-whole amount, or interest on, the debt securities may be determined according to an index, formula or other method and how such amounts will be determined; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">whether the debt securities will be in registered form, bearer form, or both, and (i)&#160;if in registered form, the person to whom any interest shall be payable, if other than the person in whose name the security is registered at the close of business on the regular record date for such interest, or (ii)&#160;if in bearer form, the manner in which, or the person to whom, any interest on the security shall be payable if otherwise than upon presentation and surrender upon maturity; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">any restrictions applicable to the offer, sale or delivery of securities in bearer form and the terms upon which securities in bearer form of the series may be exchanged for securities in registered form of the series and vice versa, if permitted by applicable laws and regulations; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">whether any debt securities of the series are to be issuable initially in temporary global form and whether any debt securities of the series are to be issuable in permanent global form with or without coupons and, if so, whether beneficial owners of interests in any such permanent global security may, or shall be required to, exchange their interests for other debt securities of the series, and the manner in which interest shall be paid; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the identity of the depositary for securities in registered form, if such series are to be issuable as a global security; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the date as of which any debt securities in bearer form or in temporary global form shall be dated if other than the original issuance date of the first security of the series to be issued; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the applicability, if any, of the defeasance and covenant defeasance provisions described in this prospectus or in the applicable indenture; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.81pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.81pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">whether and under what circumstances we will pay any additional amounts on the debt securities in respect of any tax, assessment or governmental charge and, if so, whether we will have the option to redeem the debt securities in lieu of making such a payment; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">whether and under what circumstances the debt securities being offered are convertible into common stock or other securities of ours, as the case may be, including the conversion price or rate and the manner or calculation thereof; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the circumstances, if any, specified in the applicable prospectus supplement, under which beneficial owners of interests in the global security may obtain definitive debt securities and the manner in which payments on a permanent global debt security will be made if any debt securities are issuable in temporary or permanent global form; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">any provisions granting special rights to holders of securities upon the occurrence of such events as specified in the applicable prospectus supplement; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">if the debt securities of such series are to be issuable in definitive form only upon receipt of certain certificates or other documents or satisfaction of other conditions, then the form and/or terms of such certificates, documents or conditions; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the name of the applicable trustee and the nature of any material relationship with us or any of our affiliates, and the&#160;percentage of debt securities of the class necessary to require the trustee to take action; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.81pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        </div>
        <div style=" margin-top:5.81pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">any deletions from, modifications of or additions to our events of default or covenants with regard to such debt securities and any change in the right of any trustee or any of the holders to declare the principal amount of any of such debt securities due and payable; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">applicable CUSIP numbers; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">any other terms of such debt securities not inconsistent with the provisions of the applicable indenture. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We may issue debt securities that provide for less than the entire principal amount thereof to be payable upon declaration of acceleration of the maturity of the debt securities. We refer to any such debt </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">13</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">securities throughout this prospectus as &#8220;original issue discount securities.&#8221; The applicable prospectus supplement will describe the United States federal income tax consequences and other relevant considerations applicable to original issue discount securities, including the portion of the principal amount thereof to be payable upon declaration of acceleration of the maturity of the debt securities. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Except as described in the indentures under &#8220;Compliance with Consolidation Provisions&#8221; and &#8220;Successor Entity&#8221; or as may be set forth in any prospectus supplement, the debt securities will not contain any provisions that (i)&#160;would limit our ability to incur indebtedness or (ii)&#160;would afford holders of debt securities protection in the event of (a)&#160;a highly leveraged or similar transaction involving us, or (b)&#160;a change of control or reorganization, restructuring, merger or similar transaction involving us that may adversely affect the holders of the debt securities. In the future, we may enter into transactions, such as the sale of all or substantially all of our assets or a merger or consolidation, that may have an adverse effect on our ability to service our indebtedness, including the debt securities, by, among other things, substantially reducing or eliminating our assets. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Our governing instruments do not define the term &#8220;substantially all&#8221; as it relates to the sale of assets. Additionally, Delaware cases interpreting the term &#8220;substantially all&#8221; rely upon the facts and circumstances of each particular case. Consequently, to determine whether a sale of &#8220;substantially all&#8221; of our assets has occurred, a holder of debt securities must review the financial and other information that we have disclosed to the public. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We will provide you with more information in the applicable prospectus supplement regarding any deletions, modifications, or additions to the events of default or covenants that are described below, including any addition of a covenant or other provision providing event risk or similar protection. </font>
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        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Payment</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Unless we give you different information in the applicable prospectus supplement, the principal of, and any premium or make-whole amount, and interest on, any series of the debt securities will be payable at the corporate trust office of the trustee. We will provide you with the address of the trustee in the applicable prospectus supplement. We may also pay interest by mailing a check to the address of the person entitled to it as it appears in the applicable register for the debt securities or by wire transfer of funds to that person at an account maintained within the United States. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">All monies that we pay to a paying agent or a trustee for the payment of the principal of, and any premium or make-whole amount, or interest on, any debt security will be repaid to us if unclaimed at the end of two&#160;years after the obligation underlying payment becomes due and payable. After funds have been returned to us, the holder of the debt security may look only to us for payment, without payment of interest for the period which we hold the funds. </font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Denomination, Interest, Registration and Transfer</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Unless otherwise described in the applicable prospectus supplement, the debt securities of any series will be issuable in denominations of $1,000 and integral multiples of $1,000. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Subject to the limitations imposed upon debt securities that are evidenced by a computerized entry in the records of a depository company rather than by physical delivery of a note, a holder of debt securities of any series may: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">exchange them for any authorized denomination of other debt securities of the same series and of a like aggregate principal amount and kind upon surrender of such debt securities at the corporate trust office of the applicable trustee or at the office of any transfer agent that we designate for such purpose; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">surrender them for registration of transfer or exchange at the corporate trust office of the applicable trustee or at the office of any transfer agent that we designate for such purpose. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Every debt security surrendered for registration of transfer or exchange must be duly endorsed or accompanied by a written instrument of transfer satisfactory to the applicable trustee or transfer agent. Payment of a service charge will not be required for any registration of transfer or exchange of any debt </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">14</font>
          <br >
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      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">securities, but we or the trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. If in addition to the applicable trustee, the applicable prospectus supplement refers to any transfer agent initially designated by us for any series of debt securities, we may at any time rescind the designation of any such transfer agent or approve a change in the location through which any such transfer agent acts, except that we will be required to maintain a transfer agent in each place of payment for such series. We may at any time designate additional transfer agents for any series of debt securities. </font>
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        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Neither we, nor any trustee, will be required to: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.59pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.59pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">issue, register the transfer of or exchange debt securities of any series during a period beginning at the opening of business 15&#160;days before the day that a notice of redemption of less than all the outstanding debt securities of the same series is mailed and ending at the close of business on the day of such mailing; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6.6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">register the transfer of or exchange any debt security, or portion thereof, so selected for redemption, in whole or in part, except the unredeemed portion of any debt security being redeemed in part; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">issue, register the transfer of or exchange any debt security that has been surrendered for repayment at the option of the holder, except the portion, if any, of such debt security not to be so repaid. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Merger, Consolidation or Sale of Assets</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">The indentures provide that we may, without the consent of the holders of any outstanding debt securities, (i)&#160;consolidate with, (ii)&#160;sell, lease or convey all or substantially all of our assets to, or (iii)&#160;merge with or into, any other entity provided that: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6.6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">either we are the continuing entity, or the successor entity, if other than us, assumes the obligations (a)&#160;to pay the principal of, and any premium or make-whole amount, and interest on, all of the debt securities and (b)&#160;to duly perform and observe all of the covenants and conditions contained in each indenture; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.59pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.59pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the holders of any outstanding debt securities shall be entitled to receive upon conversion or exchange of such debt securities the number of securities or property to which a holder of the number of shares of common stock or other securities of the Company deliverable upon conversion or exchange of such debt securities would have been entitled had such conversion or exchange occurred immediately prior to the transaction; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">an officers&#8217; certificate and legal opinion covering such conditions are delivered to each applicable trustee. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Covenants</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12.5pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">Existence</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Except as described therein under &#8220;Company May Consolidate, Etc.,&#8221; the indentures require us to do or cause to be done all things necessary to preserve and keep in full force and effect our existence, rights and franchises. However, the indentures do not require us to preserve any right or franchise if we determine that any right or franchise is no longer desirable in the conduct of our business. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12.5pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">Provision of financial information</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The indentures require us to (i)&#160;within 30&#160;days of each of the respective dates by which we are required to file our annual reports, quarterly reports and other documents with the SEC, file with the trustee copies of the annual report, quarterly report and other documents that we file with the SEC under Section&#160;13 or 15(d) of the Exchange Act and (ii)&#160;file with the trustee and the SEC any additional information, documents and reports regarding compliance by us with the conditions and covenants of the indentures, as required. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12.5pt;">
          <font style="font-style:italic;letter-spacing:0.2pt;">Additional covenants</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The applicable prospectus supplement will set forth any of our additional covenants relating to any series of debt securities. </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">15</font>
          <br >
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      <hr >
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Events of Default, Notice and Waiver</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Unless the applicable prospectus supplement states otherwise, when we refer to &#8220;events of default&#8221; as defined in the indentures with respect to any series of debt securities, we mean: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.71pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.71pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">default in the payment of any installment of interest on any debt security of such series continuing for 90&#160;days; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">default in the payment of principal of, or any premium or make-whole amount on, any debt security of such series as and when the same shall become due and payable, whether at maturity, upon redemption, by declaration or otherwise; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">default in making any sinking fund payment as required for any debt security of such series as and when due and payable; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">default in the performance or breach of any covenant or warranty in the debt securities or in the indenture by us continuing for 90&#160;days after written notice as provided in the applicable indenture, but not of a covenant added to the indenture solely for the benefit of a series of debt securities issued thereunder other than such series; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">bankruptcy, insolvency or reorganization, or court appointment of a receiver, liquidator or trustee of us; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">any other event of default provided with respect to a particular series of debt securities. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Notice of any such default shall be given to us by the trustee, or to us and the trustee by the holders of at least 25% in principal amount of the outstanding debt securities of that series. The written notice shall specify such default and require us to cause such indebtedness to be discharged or cause such acceleration to be rescinded or annulled and shall state that such notice is a &#8220;Notice of Default&#8221; under such indenture. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If an event of default occurs and is continuing with respect to debt securities of any series outstanding, then the applicable trustee or the holders of 25% or more in principal amount of the debt securities of that series will have the right to declare the principal amount of all the debt securities of that series to be due and payable. However, at any time after such a declaration of acceleration has been made, but before a judgment or decree for payment of the money due has been obtained by the applicable trustee, the holders of at least a majority in principal amount of outstanding debt securities of such series or of all debt securities then outstanding under the applicable indenture may rescind and annul such declaration and its consequences if: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">we have deposited with the applicable trustee all matured installments of interest upon and the principal of (and premium, if any, on) all the outstanding debt securities of such series that shall have become other than by acceleration (with interest upon such principal and premium, if any, and upon overdue installments of interest), plus applicable fees, expenses, disbursements and advances of the applicable trustee; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">all events of default, other than the non-payment of accelerated principal (and premium, if any) and accrued and unpaid interest on debt securities of such series, have been cured or waived. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The indentures require each trustee to give notice to the holders of debt securities within the later of 90&#160;days after of a default occurs and 30&#160;days after it is actually known to a trustee or written notice of it is received by the trustee, unless such default has been cured or waived. However, the trustee may withhold notice if specified persons of such trustee consider such withholding to be in the interest of the holders of debt securities. The trustee may not withhold notice of a default in the payment of principal, any premium or interest on any debt security of such series or in the payment of any sinking fund installment in respect of any debt security of such series. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The indentures provide that holders of debt securities of any series may not institute any proceedings, judicial or otherwise, with respect to such indenture or for any remedy under the indenture, unless the trustee fails to act for a period of 90&#160;days after the trustee has received a written request to institute proceedings in respect of an event of default from the holders of 25% or more in principal amount of the outstanding debt securities of such series, as well as an offer of indemnity reasonably satisfactory to the trustee. However, this provision will not prevent any holder of debt securities from instituting suit for the enforcement of </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">16</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">payment of the principal of, and any premium or make-whole amount, and interest on, such debt securities at the respective due dates thereof. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The indentures provide that, subject to provisions in each indenture relating to its duties in the case of a default, a trustee has no obligation to exercise any of its rights or powers at the request or direction of any holders of any series of debt securities then outstanding under the indenture, unless the holders have offered to the trustee reasonable security or indemnity. The holders of at least a majority in principal amount of the outstanding debt securities of any series or of all debt securities then outstanding under an indenture shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the applicable trustee, or of exercising any trust or power conferred upon such trustee. However, a trustee may refuse to follow any direction which: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">is in conflict with any law or the applicable indenture; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">may involve the trustee in personal liability; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">may be unduly prejudicial to the holders of debt securities of the series not joining the proceeding. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Within 120&#160;days after the close of each fiscal year, we will be required to deliver to each trustee a certificate, signed by one of our several specified officers, stating whether or not that officer has knowledge of any default under the applicable indenture. If the officer has knowledge of any default, the notice must specify the nature and status of the default. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Modification of the Indentures</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The indentures provide that no modifications or amendments may, without the consent of each affected holder, impair the right of any holder of any debt security to (i)&#160;receive payment of the principal of (and premium, if any) and interest on the debt securities, as provided in the debt securities or indentures, on or after the respective due dates expressed in the debt securities or the indentures (or in the case of redemption, on the redemption date) or (ii)&#160;institute suit for the enforcement of any such payment on or after such respective dates or redemption date. Furthermore, no modification or amendment may, without the consent of the holders of all of the debt securities affected by the modification or amendment: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">change the stated maturity of the principal of, or any premium or make-whole amount on, or any installment of principal of or interest on, any such debt security, or reduce the amount of interest payable thereon or principal thereof; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">reduce the&#160;percentage in principal amount of any outstanding debt securities necessary to modify or amend the applicable indenture with respect to such debt securities. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The holders of a majority in aggregate principal amount of the outstanding debt securities of each affected series may, on behalf of all holders of debt securities of that series, waive, insofar as that series is concerned, our compliance with material restrictive covenants of the applicable indenture. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We and our respective trustee may make modifications and amendments of an indenture without the consent of any holder of debt securities, including for any of the following purposes: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">to evidence the succession of another person to us as obligor under such indenture in compliance with the Trust Indenture Act; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">to add to our covenants for the benefit of the holders of all or any series of debt securities or to surrender any right or power conferred upon us in such indenture; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">to add events of default for the benefit of the holders of all or any series of debt securities; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">to add or change any provisions of an indenture (i)&#160;to change or eliminate restrictions on the payment of principal of, or premium or make-whole amount, or interest on, debt securities in bearer form, (ii)&#160;to permit or facilitate the issuance of debt securities in uncertificated form, or (iii)&#160;that otherwise does not adversely affect the interests of the holders of the debt securities of any series in any material respect; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">to establish the form or terms of debt securities of any series; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">17</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">to provide for the acceptance of appointment by a successor trustee or facilitate the administration of the trusts under an indenture by more than one trustee; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">to cure any ambiguity, defect or inconsistency in an indenture. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Subordination</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Unless otherwise provided in the applicable prospectus supplement, subordinated debt securities will be subject to the following subordination provisions. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Upon any distribution to our creditors in a liquidation, dissolution or reorganization, the payment of the principal of and interest on any subordinated debt securities will be subordinated to the extent provided in the applicable indenture in right of payment to the prior payment in full of all senior debt. However, our obligation to make payments of the principal of and interest on such subordinated debt securities otherwise will not be affected. No payment of principal or interest will be permitted to be made on subordinated debt securities at any time if a default on senior debt exists that permits the holders of such senior debt to accelerate its maturity and the default is the subject of judicial proceedings or we receive notice of the default. After all senior debt is paid in full and until the subordinated debt securities are paid in full, holders of subordinated debt securities will be subrogated to the rights of holders of senior debt to the extent that distributions otherwise payable to holders of subordinated debt securities have been applied to the payment of senior debt. The subordinated indenture will not restrict the amount of senior debt or other indebtedness of ours. As a result of these subordination provisions, in the event of a distribution of assets upon insolvency, holders of subordinated debt securities may recover less, ratably, than our general creditors. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The term &#8220;senior debt&#8221; will be defined in the applicable indenture as the principal of and interest on, or substantially similar payments to be made by us in respect of, other outstanding indebtedness, whether outstanding at the date of execution of the applicable indenture or subsequently incurred, created or assumed. The prospectus supplement may include a description of additional terms implementing the subordination feature. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">No restrictions will be included in any indenture relating to subordinated debt securities upon the creation of additional senior debt. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If this prospectus is being delivered in connection with the offering of a series of subordinated debt securities, the accompanying prospectus supplement or the information incorporated in this prospectus by reference will set forth the approximate amount of senior debt outstanding as of the end of our most recent fiscal quarter. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Discharge, Defeasance and Covenant Defeasance</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Unless otherwise indicated in the applicable prospectus supplement, the indentures allow us to discharge our obligations to holders of any series of debt securities issued under any indenture when: </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">either (i)&#160;all securities of such series have already been delivered to the applicable trustee for cancellation; or (ii)&#160;all securities of such series have not already been delivered to the applicable trustee for cancellation but (a)&#160;have become due and payable, (b)&#160;will become due and payable within one year, or (c)&#160;if redeemable at our option, are to be redeemed within one year, and we have irrevocably deposited with the applicable trustee, in trust, funds in such currency or currencies, currency unit or&#160;units or composite currency or currencies in which such debt securities are payable, an amount sufficient to pay the entire indebtedness on such debt securities in respect of principal and any premium or make-whole amount, and interest to the date of such deposit if such debt securities have become due and payable or, if they have not, to the stated maturity or redemption date; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">we have paid or caused to be paid all other sums payable; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">an officers&#8217; certificate and an opinion of counsel stating the conditions to discharging the debt securities have been satisfied has been delivered to the trustee. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Unless otherwise indicated in the applicable prospectus supplement, the indentures provide that, upon our irrevocable deposit with the applicable trustee, in trust, of an amount, in such currency or currencies, </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">18</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">currency unit or&#160;units or composite currency or currencies in which such debt securities are payable at stated maturity, or government obligations, or both, applicable to such debt securities, which through the scheduled payment of principal and interest in accordance with their terms will provide money in an amount sufficient to pay the principal of, and any premium or make-whole amount, and interest on, such debt securities, and any mandatory sinking fund or analogous payments thereon, on the scheduled due dates therefor, the we may elect either: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">to defease and be discharged from any and all obligations with respect to such debt securities; or </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">to be released from our obligations with respect to such debt securities under the applicable indenture or, if provided in the applicable prospectus supplement, our obligations with respect to any other covenant, and any omission to comply with such obligations shall not constitute an event of default with respect to such debt securities. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">When we use the term &#8220;government obligations,&#8221; we mean securities that are: </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">direct obligations of the United States or the government that issued the foreign currency in which the debt securities of a particular series are payable, for the payment of which its full faith and credit is pledged; or </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.1pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">obligations of a person controlled or supervised by and acting as an agency or instrumentality of the United States or other government that issued the foreign currency in which the debt securities of such series are payable, the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States or such other government, which are not callable or redeemable at the option of the issuer thereof and shall also include a depository receipt issued by a bank or trust company as custodian with respect to any such government obligation or a specific payment of interest on or principal of any such government obligation held by such custodian for the account of the holder of a depository receipt. However, except as required by law, such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the government obligation or the specific payment of interest on or principal of the government obligation evidenced by such depository receipt. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Unless otherwise provided in the applicable prospectus supplement, if after we have deposited funds and/or government obligations to effect defeasance or covenant defeasance with respect to debt securities of any series, (i)&#160;the holder of a debt security of such series is entitled to, and does, elect under the terms of the applicable indenture or the terms of such debt security to receive payment in a currency, currency unit or composite currency other than that in which such deposit has been made in respect of such debt security, or (ii)&#160;a conversion event occurs in respect of the currency, currency unit or composite currency in which such deposit has been made, the indebtedness represented by such debt security will be deemed to have been, and will be, fully discharged and satisfied through the payment of the principal of, and premium or make-whole amount, and interest on, such debt security as they become due out of the proceeds yielded by converting the amount so deposited in respect of such debt security into the currency, currency unit or composite currency in which such debt security becomes payable as a result of such election or such cessation of usage based on the applicable market exchange rate. </font>
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        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">When we use the term &#8220;conversion event,&#8221; we mean the cessation of use of: </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">a currency, currency unit or composite currency both by the government of the country that issued such currency and for the settlement of transactions by a central bank or other public institutions of or within the international banking community; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the European Currency Unit both within the European Monetary System and for the settlement of transactions by public institutions of or within the European Communities; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">any currency unit or composite currency other than the European Currency Unit for the purposes for which it was established. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Unless otherwise provided in the applicable prospectus supplement, all payments of principal of, and any premium or make-whole amount, and interest on, any debt security that is payable in a foreign currency that ceases to be used by its government of issuance shall be made in United States dollars. </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">19</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The applicable prospectus supplement may further describe the provisions, if any, permitting such defeasance or covenant defeasance, including any modifications to the provisions described above, with respect to the debt securities of or within a particular series. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Conversion Rights</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The terms and conditions, if any, upon which the debt securities are convertible into common stock or other securities of ours will be set forth in the applicable prospectus supplement. The terms will include whether the debt securities are convertible into shares of common stock or other securities of ours, the conversion price, or manner of calculation thereof, the conversion period, provisions as to whether conversion will be at the issuing company&#8217;s option or the option of the holders, the events requiring an adjustment of the conversion price and provisions affecting conversion in the event of the redemption of the debt securities and any restrictions on conversion. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Global Securities</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">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 depository identified in the applicable prospectus supplement relating to such series. Global securities, if any, issued in the United States are expected to be deposited with The Depository Trust Company (&#8220;DTC&#8221;), as depository. We may issue global securities in either registered or bearer form and in either temporary or permanent form. We will describe the specific terms of the depository arrangement with respect to a series of debt securities in the applicable prospectus supplement relating to such series. We expect that unless the applicable prospectus supplement provides otherwise, the following provisions will apply to depository arrangements. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Once a global security is issued, the depository for such global security or its nominee will credit on its book-entry registration and transfer system the respective principal amounts of the individual debt securities represented by such global security to the accounts of participants that have accounts with such depository. Such accounts shall be designated by the underwriters, dealers or agents with respect to such debt securities or by us if we offer such debt securities directly. Ownership of beneficial interests in such global security will be limited to participants with the depository or persons that may hold interests through those participants. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We expect that, under procedures established by DTC, ownership of beneficial interests in any global security for which DTC is the depository will be shown on, and the transfer of that ownership will be effected only through, records maintained by DTC or its nominee, with respect to beneficial interests of participants with the depository, and records of participants, with respect to beneficial interests of persons who hold through participants with the depository. Neither we nor the trustee will have any responsibility or liability for any aspect of the records of DTC or for maintaining, supervising or reviewing any records of DTC or any of its participants relating to beneficial ownership interests in the debt securities. The laws of some states require that certain purchasers of securities take physical delivery of such securities in definitive form. Such limits and laws may impair the ability to own, pledge or transfer beneficial interest in a global security. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">So long as the depository for a global security or its nominee is the registered owner of such global security, such depository or such nominee, as the case may be, will be considered the sole owner or holder of the debt securities represented by the global security for all purposes under the applicable indenture. Except as described below or in the applicable prospectus supplement, owners of beneficial interest in a global security will not be entitled to have any of the individual debt securities represented by such global security registered in their names, will not receive or be entitled to receive physical delivery of any such debt securities in definitive form and will not be considered the owners or holders thereof under the applicable indenture. Beneficial owners of debt securities evidenced by a global security will not be considered the owners or holders thereof under the applicable indenture for any purpose, including with respect to the giving of any direction, instructions or approvals to the trustee under the indenture. Accordingly, each person owning a beneficial interest in a global security with respect to which DTC is the depository must rely on the procedures of DTC and, if such person is not a participant with the depository, on the procedures of the participant through which such person owns its interests, to exercise any rights of a holder under the applicable indenture. We understand that, under existing industry practice, if DTC requests any action of holders or if an owner of a beneficial interest in a global security desires to give or take any action which a holder is entitled to give or take under the applicable indenture, DTC would authorize the participants holding the </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">20</font>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">relevant beneficial interest to give or take such action, and such participants would authorize beneficial owners through such participants to give or take such actions or would otherwise act upon the instructions of beneficial owners holding through them. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Payments of principal of, and any premium or make-whole amount, and interest on, individual debt securities represented by a global security registered in the name of a depository or its nominee will be made to or at the direction of the depository or its nominee, as the case may be, as the registered owner of the global security under the applicable indenture. Under the terms of the applicable indenture, we and the trustee may treat the persons in whose name debt securities, including a global security, are registered as the owners thereof for the purpose of receiving such payments. Consequently, neither we nor the trustee have or will have any responsibility or liability for the payment of such amounts to beneficial owners of debt securities including principal, any premium or make-whole amount, or interest. We believe, however, that it is currently the policy of DTC to immediately credit the accounts of relevant participants with such payments, in amounts proportionate to their respective holdings of beneficial interests in the relevant global security as shown on the records of DTC or its nominee. We also expect that payments by participants to owners of beneficial interests in such global security held through such participants will be governed by standing instructions and customary practices, as is the case with securities held for the account of customers in bearer form or registered in street name, and will be the responsibility of such participants. Redemption notices with respect to any debt securities represented by a global security will be sent to the depository or its nominee. If less than all of the debt securities of any series are to be redeemed, we expect the depository to determine the amount of the interest of each participant in such debt securities to be redeemed to be determined by lot. Neither we, the trustee, any paying agent nor the security registrar for such debt securities will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests in the global security for such debt securities or for maintaining any records with respect thereto. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Neither we nor the trustee will be liable for any delay by the holders of a global security or the depository in identifying the beneficial owners of debt securities, and we and the trustee may conclusively rely on, and will be protected in relying on, instructions from the holder of a global security or the depository for all purposes. The rules applicable to DTC and its participants are on file with the SEC. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If a depository for any debt securities is at any time unwilling, unable or ineligible to continue as depository and we do not appoint a successor depository within 90&#160;days, we will issue individual debt securities in exchange for the global security representing such debt securities. In addition, we may at any time and at our sole discretion, subject to any limitations described in the applicable prospectus supplement relating to such debt securities, determine not to have any of such debt securities represented by one or more global securities and in such event will issue individual debt securities in exchange for the global security or securities representing such debt securities. Individual debt securities so issued will be issued in denominations of $1,000 and integral multiples of $1,000. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The debt securities of a series may also be issued in whole or in part in the form of one or more bearer global securities that will be deposited with a depository, or with a nominee for such depository, identified in the applicable prospectus supplement. Any such bearer global securities may be issued in temporary or permanent form. The specific terms and procedures, including the specific terms of the depositary arrangement, with respect to any portion of a series of debt securities to be represented by one or more bearer global securities will be described in the applicable prospectus supplement. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">No Recourse</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">There is no recourse under any obligation, covenant or agreement in the applicable indenture or with respect to any security against any of our or our successor&#8217;s past, present or future shareholders, employees, officers or directors.</font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">21</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tDOW">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">DESCRIPTION OF WARRANTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The following description, together with the additional information we may include in any applicable prospectus supplements, summarizes the material terms and provisions of the warrants that we may offer under this prospectus and the related warrant agreements and warrant certificates. While the terms summarized below will apply generally to any warrants that we may offer, we will describe the particular terms of any series of warrants in more detail in the applicable prospectus supplement. If we indicate in the prospectus supplement, the terms of any warrants offered under that prospectus supplement may differ from the terms described below. Specific warrant agreements will contain additional important terms and provisions and will be incorporated by reference as an exhibit to the registration statement, which includes this prospectus. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">General</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We may issue warrants for the purchase of common stock, preferred stock and/or debt securities in one or more series. We may issue warrants independently or together with common stock, preferred stock and/or debt securities, and the warrants may be attached to or separate from these securities. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We will evidence each series of warrants by warrant certificates that we will issue under a separate warrant agreement. We will enter into the warrant agreement with a warrant agent. We will indicate the name and address of the warrant agent in the applicable prospectus supplement relating to a particular series of warrants. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We will describe in the applicable prospectus supplement the terms of the series of warrants, including: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the offering price and aggregate number of warrants offered; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.19pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the currency for which the warrants may be purchased; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">if applicable, the designation and terms of the securities with which the warrants are issued and the number of warrants issued with each such security or each principal amount of such security; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">if applicable, the date on and after which the warrants and the related securities will be separately transferable; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">in the case of warrants to purchase debt securities, the principal amount of debt securities purchasable upon exercise of one warrant and the price at, and currency in which, this principal amount of debt securities may be purchased upon such exercise; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.19pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">in the case of warrants to purchase common stock or preferred stock, the number of shares of common stock or preferred stock, as the case may be, purchasable upon the exercise of one warrant and the price at which these shares may be purchased upon such exercise; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the effect of any merger, consolidation, sale or other disposition of our business on the warrant agreement and the warrants; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the terms of any rights to redeem or call the warrants; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">any provisions for changes to or adjustments in the exercise price or number of securities issuable upon exercise of the warrants; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the periods during which, and places at which, the warrants are exercisable; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.19pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the manner of exercise; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the dates on which the right to exercise the warrants will commence and expire; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the manner in which the warrant agreement and warrants may be modified; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">federal income tax consequences of holding or exercising the warrants; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the terms of the securities issuable upon exercise of the warrants; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">any other specific terms, preferences, rights or limitations of or restrictions on the warrants. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">22</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tDOU">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">DESCRIPTION OF UNITS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We may issue&#160;units comprised of shares of common stock, shares of preferred stock, debt securities and warrants in any combination. We may issue&#160;units in such amounts and in as many distinct series as we wish. This section outlines certain provisions of the&#160;units that we may issue. If we issue&#160;units, they will be issued under one or more unit agreements to be entered into between us and a bank or other financial institution, as unit agent. The information described in this section may not be complete in all respects and is qualified entirely by reference to the unit agreement with respect to the&#160;units of any particular series. The specific terms of any series of&#160;units offered will be described in the applicable prospectus supplement. If so described in a particular supplement, the specific terms of any series of&#160;units may differ from the general description of terms presented below. We urge you to read any prospectus supplement related to any series of&#160;units we may offer, as well as the complete unit agreement and unit certificate that contain the terms of the&#160;units. If we issue&#160;units, forms of unit agreements and unit certificates relating to such&#160;units will be incorporated by reference as exhibits to the registration statement, which includes this prospectus. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Each unit that we may issue will be issued so that the holder of the unit is also the holder of each security included in the unit. Thus, the holder of a unit will have the rights and obligations of a holder of each included security. The unit agreement under which a unit is issued may provide that the securities included in the unit may not be held or transferred separately, at any time or at any time before a specified date. The applicable prospectus supplement may describe: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the designation and terms of the&#160;units and of the securities comprising the&#160;units, including whether and under what circumstances those securities may be held or transferred separately; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">any provisions of the governing unit agreement; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.81pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.81pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the price or prices at which such&#160;units will be issued; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the applicable United States federal income tax considerations relating to the&#160;units; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">any provisions for the issuance, payment, settlement, transfer or exchange of the&#160;units or of the securities comprising the&#160;units; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">any other terms of the&#160;units and of the securities comprising the&#160;units. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The provisions described in this section, as well as those described under &#8220;Description of Capital Stock,&#8221; &#8220;Description of Debt Securities&#8221; and &#8220;Description of Warrants&#8221; will apply to the securities included in each unit, to the extent relevant and as may be updated in any prospectus supplements. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Issuance in Series</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We may issue&#160;units in such amounts and in as many distinct series as we wish. This section summarizes terms of the&#160;units that apply generally to all series. Most of the financial and other specific terms of your series will be described in the applicable prospectus supplement. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Unit Agreements</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We will issue the&#160;units under one or more unit agreements to be entered into between us and a bank or other financial institution, as unit agent. We may add, replace or terminate unit agents from time to time. We will identify the unit agreement under which each series of&#160;units will be issued and the unit agent under that agreement in the applicable prospectus supplement. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The following provisions will generally apply to all unit agreements unless otherwise stated in the applicable prospectus supplement: </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Modification without Consent</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We and the applicable unit agent may amend any unit or unit agreement without the consent of any holder: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">to cure any ambiguity, including modifying any provisions of the governing unit agreement that differ from those described below; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">23</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">to correct or supplement any defective or inconsistent provision; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">to make any other change that we believe is necessary or desirable and will not adversely affect the interests of the affected holders in any material respect. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We do not need any approval to make changes that affect only&#160;units to be issued after the changes take effect. We may also make changes that do not adversely affect a particular unit in any material respect, even if they adversely affect other&#160;units in a material respect. In those cases, we do not need to obtain the approval of the holder of the unaffected unit; we need only obtain any required approvals from the holders of the affected&#160;units. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Modification with Consent</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We may not amend any particular unit or a unit agreement with respect to any particular unit unless we obtain the consent of the holder of that unit, if the amendment would: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">impair any right of the holder to exercise or enforce any right under a security included in the unit if the terms of that security require the consent of the holder to any changes that would impair the exercise or enforcement of that right; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">reduce the&#160;percentage of outstanding&#160;units or any series or class the consent of whose holders is required to amend that series or class, or the applicable unit agreement with respect to that series or class, as described below. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Any other change to a particular unit agreement and the&#160;units issued under that agreement would require the following approval: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">if the change affects only the&#160;units of a particular series issued under that agreement, the change must be approved by the holders of a majority of the outstanding&#160;units of that series; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.39pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.39pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">if the change affects the&#160;units of more than one series issued under that agreement, it must be approved by the holders of a majority of all outstanding&#160;units of all series affected by the change, with the&#160;units of all the affected series voting together as one class for this purpose. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">These provisions regarding changes with majority approval also apply to changes affecting any securities issued under a unit agreement, as the governing document. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In each case, the required approval must be given by written consent. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Unit Agreements Will Not Be Qualified under Trust Indenture Act</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">No unit agreement will be qualified as an indenture, and no unit agent will be required to qualify as a trustee, under the Trust Indenture Act. Therefore, holders of&#160;units issued under unit agreements will not have the protections of the Trust Indenture Act with respect to their&#160;units. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Mergers and Similar Transactions Permitted; No Restrictive Covenants or Events of Default</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The unit agreements will not restrict our ability to merge or consolidate with, or sell our assets to, another corporation or other entity or to engage in any other transactions. If at any time we merge or consolidate with, or sell our assets substantially as an entirety to, another corporation or other entity, the successor entity will succeed to and assume our obligations under the unit agreements. We will then be relieved of any further obligation under these agreements. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The unit agreements will not include any restrictions on our ability to put liens on our assets, nor will they restrict our ability to sell our assets. The unit agreements also will not provide for any events of default or remedies upon the occurrence of any events of default. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Governing Law</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The unit agreements and the&#160;units will be governed by Delaware law. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">24</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:130pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Form, Exchange and Transfer</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Unless the accompanying prospectus supplement states otherwise, we will issue each unit in global&#8201;&#8212;&#8201;i.e., book-entry&#8201;&#8212;&#8201;form only. Units in book-entry form will be represented by a global security registered in the name of a depositary, which will be the holder of all the&#160;units represented by the global security. Those who own beneficial interests in a unit will do so through participants in the depositary&#8217;s system, and the rights of these indirect owners will be governed solely by the applicable procedures of the depositary and its participants. We will describe book-entry securities, and other terms regarding the issuance and registration of the&#160;units in the applicable prospectus supplement. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Unless the accompanying prospectus supplement states otherwise, each unit and all securities comprising the unit will be issued in the same form. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If we issue any&#160;units in registered, non-global form, the following will apply to them. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The&#160;units will be issued in the denominations stated in the applicable prospectus supplement. Holders may exchange their&#160;units for&#160;units of smaller denominations or combined into fewer&#160;units of larger denominations, as long as the total amount is not changed. </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Holders may exchange or transfer their&#160;units at the office of the unit agent. Holders may also replace lost, stolen, destroyed or mutilated&#160;units at that office. We may appoint another entity to perform these functions or perform them ourselves. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">Holders will not be required to pay a service charge to transfer or exchange their&#160;units, but they may be required to pay for any tax or other governmental charge associated with the transfer or exchange. The transfer or exchange, and any replacement, will be made only if our transfer agent is satisfied with the holder&#8217;s proof of legal ownership. The transfer agent may also require an indemnity before replacing any&#160;units. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">If we have the right to redeem, accelerate or settle any&#160;units before their maturity, and we exercise our right as to less than all those&#160;units or other securities, we may block the exchange or transfer of those&#160;units during the period beginning 15&#160;days before the day we mail the notice of exercise and ending on the day of that mailing, in order to freeze the list of holders to prepare the mailing. We may also refuse to register transfers of or exchange any unit selected for early settlement, except that we will continue to permit transfers and exchanges of the unsettled portion of any unit being partially settled. We may also block the transfer or exchange of any unit in this manner if the unit includes securities that are or may be selected for early settlement. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Only the depositary will be entitled to transfer or exchange a unit in global form, since it will be the sole holder of the unit. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Payments and Notices</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In making payments and giving notices with respect to our&#160;units, we will follow the procedures as described in the applicable prospectus supplement. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">25</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tPOD">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">PLAN OF DISTRIBUTION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We may sell the securities from time to time pursuant to underwritten public offerings, negotiated transactions, block trades or a combination of these methods. We may sell the securities to or through underwriters or dealers, through agents, or directly to one or more purchasers. We may distribute securities from time to time in one or more transactions: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">at a fixed price or prices, which may be changed; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">at market prices prevailing at the time of sale; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">at prices related to such prevailing market prices; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">at negotiated prices. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We may also sell equity securities covered by this registration statement in an &#8220;at the market offering&#8221; as defined in Rule&#160;415 under the Securities Act. Such offering may be made into an existing trading market for such securities in transactions at other than a fixed price, either: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">on or through the facilities of The Nasdaq Global Market or any other securities exchange or quotation or trading service on which such securities may be listed, quoted or traded at the time of sale; and/or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">to or through a market maker otherwise than on The Nasdaq Global Market or such other securities exchanges or quotation or trading services. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Such at the market offerings, if any, may be conducted by underwriters acting as principal or agent. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">A prospectus supplement or supplements (and any related free writing prospectus that we may authorize to be provided to you) will describe the terms of the offering of the securities, including, to the extent applicable: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.81pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.81pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the name or names of any underwriters, dealers or agents, if any; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the purchase price of the securities and the proceeds we will receive from the sale; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">any options under which underwriters may purchase additional securities from us; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">any agency fees or underwriting discounts and other items constituting agents&#8217; or underwriters&#8217; compensation; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">any public offering price; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">any discounts or concessions allowed or re-allowed or paid to dealers; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">any securities exchange or market on which the securities may be listed. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Only underwriters named in the prospectus supplement are underwriters of the securities offered by the prospectus supplement. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If underwriters are used in the sale, they will acquire the securities for their own account and may resell the securities from time to time in one or more transactions at a fixed public offering price or at varying prices determined at the time of sale. The obligations of the underwriters to purchase the securities will be&#160;subject to the conditions set forth in the applicable underwriting agreement. We may offer the securities to the public through underwriting syndicates represented by managing underwriters or by underwriters without a syndicate. Subject to certain conditions, the underwriters will be obligated to purchase all of the securities offered by the prospectus supplement. Any public offering price and any discounts or concessions allowed or re-allowed or paid to dealers may change from time to time. We may use underwriters with whom we have a material relationship. We will describe in the prospectus supplement, naming the underwriter, the nature of any such relationship. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We may sell securities directly or through agents we designate from time to time. We will name any agent involved in the offering and sale of securities, and we will describe any commissions we will pay the agent in the prospectus supplement. Unless the prospectus supplement states otherwise, our agent will act on a best-efforts basis for the period of its appointment. </font>
        </div>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">26</font>
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      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:200pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We may authorize agents or underwriters to solicit offers by certain types of institutional investors to purchase securities from us at the public offering price set forth in the prospectus supplement pursuant to delayed delivery contracts providing for payment and delivery on a specified date in the future. We will describe the conditions to these contracts and the commissions we must pay for solicitation of these contracts in the prospectus supplement. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We may provide agents and underwriters with indemnification against civil liabilities related to offerings pursuant to this prospectus, including liabilities under the Securities Act, or contribution with respect to payments that the agents or underwriters may make with respect to these liabilities. Agents and underwriters may engage in transactions with, or perform services for, us in the ordinary course of business. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">All securities we offer, other than our shares of common stock, will be new issues of securities with no established trading market. Any underwriters may make a market in these securities, but will not be obligated to do so and may discontinue any market making at any time without notice. We cannot guarantee the liquidity of the trading markets for any securities. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Any underwriter may engage in overallotment, stabilizing transactions, short covering transactions and penalty bids in accordance with Regulation&#160;M under the Exchange Act. Overallotment involves sales in excess of the offering size, which create a short position. Stabilizing transactions permit bids to purchase the underlying security so long as the stabilizing bids do not exceed a specified maximum. Short covering transactions involve purchases of the securities in the open market after the distribution is completed to cover short positions. Penalty bids permit the underwriters to reclaim a selling concession from a dealer when the securities originally sold by the dealer are purchased in a stabilizing or covering transaction to cover short positions. Those activities may cause the price of the securities to be higher than it would otherwise be. If commenced, the underwriters may discontinue any of the activities at any time. These transactions may be effected on any exchange or over-the-counter market or otherwise. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Any underwriters who are qualified market makers on The Nasdaq Global Market may engage in passive market making transactions in the securities on The Nasdaq Global Market in accordance with Rule&#160;103 of Regulation&#160;M, during the business day prior to the pricing of the offering, before the commencement of offers or sales of the securities. Passive market makers must comply with applicable volume and price limitations and must be identified as passive market makers. In general, a passive market maker must display its bid at a price not in excess of the highest independent bid for such security; if all independent bids are lowered below the passive market maker&#8217;s bid, however, the passive market maker&#8217;s bid must then be lowered when certain purchase limits are exceeded. Passive market making may stabilize the market price of the securities at a level above that which might otherwise prevail in the open market and, if commenced, may be discontinued at any time. </font>
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      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">27</font>
          <br >
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      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tLEMA">&#8203;</a><a name="tEXP">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:388pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">LEGAL MATTERS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Certain legal matters, including the legality of the securities offered, will be passed upon for us by Gibson, Dunn &amp; Crutcher LLP, San Francisco, California. Additional legal matters may be passed upon for us or any underwriters, dealers or agents, by counsel that we will name in the applicable prospectus supplement. </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">EXPERTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Ernst &amp; Young LLP, independent registered public accounting firm, has audited our consolidated financial statements as of December&#160;31, 2021 and 2020 and for each of the&#160;years then ended, included in our <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/1377121/000155837022002385/ptgx-20211231x10k.htm">Annual Report on Form 10-K for the year ended December&#160;31, 2021</a>, and the effectiveness of our internal control over financial reporting as of December&#160;31, 2021, as set forth in their reports, which are incorporated by reference in this prospectus and elsewhere in the registration statement. Our financial statements are incorporated by reference in reliance on Ernst &amp; Young LLP&#8217;s report, given on their authority as experts in accounting and auditing. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The financial statements for the year ended December&#160;31, 2019 incorporated in this prospectus by reference to the Annual Report on Form 10-K for the year ended December&#160;31, 2021 have been so incorporated in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">28</font>
          <br >
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      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tWCFM">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:432pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">WHERE YOU CAN FIND MORE INFORMATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We file annual, quarterly and other reports, proxy statements and other information with the SEC. Our SEC filings are available to the public over the Internet at the SEC&#8217;s website at www.sec.gov. Our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, including any amendments to those reports, and other information that we file with or furnish to the SEC pursuant to Section&#160;13(a) or 15(d) of the Exchange Act can also be accessed free of charge through the Internet. These filings will be available as soon as reasonably practicable after we electronically file such material with, or furnish it to, the SEC. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This prospectus is part of a registration statement that we filed with the SEC. This prospectus omits some information contained in the registration statement in accordance with SEC rules and regulations. You should review the information and exhibits in the registration statement for further information about us and our subsidiaries and the securities we are offering. Statements in this prospectus concerning any document we filed as an exhibit to the registration statement or that we otherwise filed with the SEC are not intended to be comprehensive and are qualified by reference to these filings. You should review the complete document to evaluate these statements. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">29</font>
          <br >
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      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tIOCIBR">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:96pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The SEC allows us to incorporate by reference the information and reports we file with it, which means that we can disclose important information to you by referring you to these documents. The information incorporated by reference is an important part of this prospectus, and information that we file after the date hereof with the SEC will automatically update and supersede the information already incorporated by reference. We are incorporating by reference the documents listed below: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">our <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/1377121/000155837022002385/ptgx-20211231x10k.htm">Annual Report on Form 10-K for the year ended December&#160;31, 2021 filed with the SEC on February&#160;28, 2022</a> (and any portions of our <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1377121/000110465922045545/tm223475-1_def14a.htm">Definitive Proxy Statement on Schedule&#160;14A filed on April&#160;13, 2022</a> that are incorporated by reference into our <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/1377121/000155837022002385/ptgx-20211231x10k.htm">Annual Report on Form 10-K for the year ended December&#160;31, 2021); </a></font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">our Quarterly Reports on Form 10-Q for the quarters ended March&#160;31, 2022, filed with the SEC on <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/1377121/000155837022007438/ptgx-20220331x10q.htm">May&#160;5, 2022</a>, and June&#160;30, 2022, filed with the SEC on <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/1377121/000155837022012277/ptgx-20220630x10q.htm">August&#160;4, 2022</a>; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">our Current Reports on Form 8-K filed with the SEC on <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/1377121/000110465922025661/tm227311d1_8k.htm">February&#160;22, 2022</a>, <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/1377121/000110465922037018/tm2210222d1_8k.htm">March&#160;23, 2022</a>, <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/1377121/000110465922041035/tm2210916d1_8k.htm">March&#160;31, 2022</a> and <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/1377121/000110465922067589/tm2217556d1_8k.htm">June&#160;2, 2022</a>; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the description of our common stock set forth in our registration statement on <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1377121/000119312516675653/d223095d8a12ba.htm">Form 8-A, filed with the SEC on August&#160;9, 2016</a>, including any amendments thereto or reports filed for the purposes of updating this description, including <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1377121/000155837022002385/ptgx-20211231xex4d7.htm">Exhibit&#160;4.7 to our Annual Report on Form 10-K for the fiscal year ended December&#160;31, 2021, filed with the SEC on February&#160;28, 2022. </a></font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">All documents we file with the SEC pursuant to Sections&#160;13(a), 13(c), 14 or 15(d) of the Exchange Act shall be deemed incorporated by reference in this prospectus and to be a part of this prospectus from the date of filing of those documents, with the exception of any portion of any report or document that is not deemed &#8220;filed&#8221; under such provisions on or after the date of this prospectus, until the earlier of the date on which: (1)&#160;all of the securities registered hereunder have been sold; or (2)&#160;the registration statement of which this prospectus is a part has been withdrawn. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Under no circumstances will any information filed under Items&#160;2.02 or 7.01 of Current Report on Form 8-K be deemed incorporated herein by reference unless such Form 8-K expressly provides to the contrary. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Upon written or oral request, we will provide without charge to each person to whom a copy of the prospectus is delivered a copy of the documents incorporated by reference herein (other than exhibits to such documents unless such exhibits are specifically incorporated by reference herein). You may request a copy of these filings, at no cost, by writing, calling or emailing us at the contact information set forth below. We have authorized no one to provide you with any information that differs from that contained in this prospectus. Accordingly, we take no responsibility for any other information that others may give you. You should not assume that the information in this prospectus is accurate as of any date other than the date of the front cover of this prospectus. </font>
        </div>
        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Protagonist Therapeutics, Inc. </font>
          <br >
          <font style="letter-spacing:0.2pt;">7707 Gateway Boulevard, Suite 140 </font>
          <br >
          <font style="letter-spacing:0.2pt;">Newark, CA 94560-1160 </font>
          <br >
          <font style="letter-spacing:0.2pt;">(510) 474-0170</font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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        </div>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">30</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Helvetica, Arial, sans-serif;font-size:9pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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      <div style="margin-top:27.85pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:justify; width:456pt;">
          <div style="margin-left: 0pt; width: 456pt; margin-top: 0pt; font-size: 2pt; line-height: 0pt; border-bottom: 2pt solid #000000; ">&#8203;</div>
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          <div style="margin-left: 0pt; width: 456pt; margin-top: 2.8pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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        <div style="margin-top:73.8pt; text-align:center; width:456pt; line-height:18pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:16pt;">
          <font style="letter-spacing:-0.32pt;">Protagonist Therapeutics, Inc.</font><font style="font-weight:normal;letter-spacing:0.32pt;"> </font>
        </div>
        <div style="position:relative;margin-top:60.58pt; text-align:center; width:456pt;">
          <img src="lg_protagonist-pn.jpg" alt="[MISSING IMAGE: lg_protagonist-pn.jpg]" height="81" width="325" >
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        <div style="margin-top:100.6pt; text-align:center; width:456pt; line-height:16pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:14pt;">
          <font style="letter-spacing:-0.28pt;">COMMON STOCK</font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:16pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:14pt;">
          <font style="letter-spacing:-0.28pt;">PREFERRED STOCK</font>
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        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:16pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:14pt;">
          <font style="letter-spacing:-0.28pt;">DEBT SECURITIES</font>
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        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:16pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:14pt;">
          <font style="letter-spacing:-0.28pt;">WARRANTS</font>
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        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:16pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:14pt;">
          <font style="letter-spacing:-0.28pt;">UNITS</font><font style="font-weight:normal;letter-spacing:0.28pt;"> </font>
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        <div style="margin-top:80.1pt; text-align:center; width:456pt; line-height:14pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:12pt;">
          <font style="letter-spacing:-0.24pt;">PROSPECTUS</font><font style="font-weight:normal;letter-spacing:0.24pt;"> </font>
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        <div style="margin-top:99.53pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:-0.2pt;">&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;, 2022</font>
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          <div style="margin-left: 0pt; width: 456pt; margin-top: 74.3pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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        <div style="margin-top:2.8pt; width:456pt;">
          <div style="margin-left: 0pt; width: 456pt; margin-top: 2.80000000000007pt; font-size: 2pt; line-height: 0pt; border-bottom: 2pt solid #000000; ">&#8203;</div>
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    <div style="position:relative;overflow-x:hidden;min-height:775.71pt;page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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      <div style="position:absolute;top:738.83pt;left:48.66pt;height:30.02pt;width:706pt;transform-origin:0pt -0pt;transform:rotate(-90deg) translate(0%, 0%);">
        <div style="text-align:justify; width:706pt; line-height:9.5pt;font-weight:bold;color:#FC0014;font-family:Helvetica, Arial, sans-serif;font-size:8pt;">
          <font style="letter-spacing:-0.08pt;">The information in this prospectus supplement is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus supplement is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.</font><font style="color:#000000;letter-spacing:-0.08pt;"> </font>
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      <div style="margin-top:27.85pt;min-height:706pt;margin-left:87.66pt;width:456pt;">
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          <font style="letter-spacing:-0.2pt;">SUBJECT TO COMPLETION, DATED AUGUST 5, 2022</font><font style="font-weight:normal;color:#000000;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">PROSPECTUS SUPPLEMENT </font> <br ><font style="letter-spacing:-0.2pt;">(To prospectus dated &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;, 2022)</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font></div>
        <div style="position:relative;margin-top:14pt; text-align:center; width:456pt;">
          <img src="lg_protagonist-pn.jpg" alt="[MISSING IMAGE: lg_protagonist-pn.jpg]" height="81" width="325" >
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        <div style="margin-top:17pt; text-align:center; width:456pt; line-height:16pt;font-weight:bold;font-size:14pt;">
          <font style="letter-spacing:-0.28pt;">Up to $100,000,000 of Shares</font><font style="font-weight:normal;letter-spacing:0.28pt;"> </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:16pt;font-weight:bold;font-size:14pt;">
          <font style="letter-spacing:-0.28pt;">Common Stock</font><font style="font-weight:normal;letter-spacing:0.28pt;"> </font>
        </div>
        <div style="margin-top:15.167pt; text-align:center; width:456pt;">
          <div style="margin-left: 38.158%; margin-right: 38.158%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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        <div style="text-indent:20pt; margin-top:14pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We have entered into an Open Market Sale Agreement</font><font style=" position:relative; bottom:4.25pt;font-size:7.5pt;letter-spacing:0.15pt;">SM</font><font style="letter-spacing:0.2pt;"> (the &#8220;sales agreement&#8221;) with Jefferies LLC (&#8220;Jefferies&#8221;) relating to the sale of shares of our common stock offered by this prospectus supplement and the accompanying prospectus. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock, $0.00001 par value per share, from time to time having an aggregate offering price of up to $100.0&#160;million through Jefferies, acting as our sales agent. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Our common stock is traded on The Nasdaq Global Market under the symbol &#8220;PTGX.&#8221; On August&#160;2, 2022, the last reported sale price of our common stock was $10.63 per share. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Sales of our shares, if any, under this prospectus supplement and the accompanying prospectus may be made in sales deemed to be an &#8220;at the market offering&#8221; as defined in Rule&#160;415(a)(4) promulgated under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;). Jefferies is not required to sell any specific number or dollar amount of securities, but will act as a sales agent using commercially reasonable efforts consistent with its normal trading and sales practices, on mutually agreed terms between Jefferies and us. There is no arrangement for funds to be received in any escrow, trust or similar arrangement. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Jefferies will be entitled to compensation under the terms of the sales agreement at a fixed commission rate of up to 3% of the gross sales price per share sold under the sales agreement. See &#8220;Plan of Distribution&#8221; beginning on page S-11 for additional information regarding Jefferies&#8217; compensation. In connection with the sale of common stock on our behalf, Jefferies will be deemed to be an &#8220;underwriter&#8221; within the meaning of the Securities Act and the compensation of Jefferies will be deemed to be underwriting commissions or discounts. We have also agreed to provide indemnification to Jefferies against certain liabilities, including liabilities under the Securities Act or the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;). See section titled &#8220;Plan of Distribution&#8221; on page S-11 of this prospectus supplement. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Investing in our securities involves a high degree of risk. See &#8220;Risk Factors&#8221; beginning on page <a href="#tRIS1">S-6</a> of this prospectus supplement and under similar headings in the other documents that are incorporated by reference into this prospectus supplement.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities, or determined if this prospectus supplement or the accompanying prospectus are truthful or complete. Any representation to the contrary is a criminal offense.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:16pt; text-align:center; width:456pt; line-height:18pt;font-weight:bold;font-size:16pt;">
          <font style="letter-spacing:-0.32pt;">Jefferies</font><font style="font-weight:normal;letter-spacing:0.32pt;"> </font>
        </div>
        <div style="margin-top:77pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;, 2022</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="TOC2">&#8203;</a>
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          <font style="letter-spacing:-0.2pt;">TABLE OF CONTENTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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                <a href="#tABT1"><font style="letter-spacing:0.2pt;">ABOUT THIS PROSPECTUS SUPPLEMENT </font></a>
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              <font style="letter-spacing:0.2pt;"><a href="#tABT1">S-2</a></font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:425.15pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tPRO1"><font style="letter-spacing:0.2pt;">PROSPECTUS SUPPLEMENT SUMMARY </font></a>
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              <font style="letter-spacing:0.2pt;"><a href="#tPRO1">S-3</a></font>
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                <a href="#tOFF1"><font style="letter-spacing:0.2pt;">THE OFFERING </font></a>
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              <font style="letter-spacing:0.2pt;"><a href="#tOFF1">S-4</a></font> <a href="#tOFF1"></a></td>
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                <a href="#tRIS1"><font style="letter-spacing:0.2pt;">RISK FACTORS </font></a>
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              <font style="letter-spacing:0.2pt;"><a href="#tRIS1">S-6</a></font> <a href="#tRIS1"></a></td>
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                <a href="#tUSE1"><font style="letter-spacing:0.2pt;">USE OF PROCEEDS </font></a>
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              <font style="letter-spacing:0.2pt;"><a href="#tUSE1">S-8</a></font> <a href="#tUSE1"></a></td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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                <a href="#tDIL1"><font style="letter-spacing:0.2pt;">DILUTION </font></a>
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              <font style="letter-spacing:0.2pt;"><a href="#tDIL1">S-9</a></font> <a href="#tDIL1"></a></td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:425.15pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tPLA1"><font style="letter-spacing:0.2pt;">PLAN OF DISTRIBUTION </font></a>
              </div>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tPLA1">S-11</a></font> <a href="#tPLA1"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:425.15pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tLEG1"><font style="letter-spacing:0.2pt;">LEGAL MATTERS </font></a>
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              <font style="letter-spacing:0.2pt;"><a href="#tLEG1">S-13</a></font> <a href="#tLEG1"></a></td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:425.15pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tEXP1"><font style="letter-spacing:0.2pt;">EXPERTS </font></a>
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              <font style="letter-spacing:0.2pt;"><a href="#tEXP1">S-13</a></font> <a href="#tEXP1"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:425.15pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tWHE1"><font style="letter-spacing:0.2pt;">WHERE YOU CAN FIND MORE INFORMATION </font></a>
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              <font style="letter-spacing:0.2pt;"><a href="#tWHE1">S-14</a></font> <a href="#tWHE1"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:425.15pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tINC1"><font style="letter-spacing:0.2pt;">INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tINC1">S-15</a></font>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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        </table>
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      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">S-1</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tABT1">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
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      <div style="margin-top:6pt;margin-bottom:132pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ABOUT THIS PROSPECTUS SUPPLEMENT</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This prospectus supplement relates to the offering of shares of our common stock. Before buying any of the shares of common stock that we are offering, we urge you to carefully read this prospectus supplement, together with the information incorporated by reference as described under the headings &#8220;Where You Can Find More Information&#8221; and &#8220;Incorporation of Certain Information by Reference&#8221;, the accompanying prospectus and any free writing prospectus that we have authorized for use in connection with this offering. These documents contain important information that you should consider when making your investment decision. In general, when we refer only to the prospectus, we are referring to both the prospectus supplement and the accompanying prospectus combined. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This prospectus describes the terms of this offering of shares of common stock and also adds to and updates information contained in the documents incorporated by reference into this prospectus. To the extent there is a conflict between the information contained in this prospectus, on the one hand, and the information contained in any document incorporated by reference into this prospectus that was filed with the Securities and Exchange Commission (&#8220;SEC&#8221;) before the date of this prospectus, on the other hand, you should rely on the information in this prospectus. If any statement in one of these documents is inconsistent with a statement in another document having a later date&#8201;&#8212;&#8201;for example, a document incorporated by reference into this prospectus&#8201;&#8212;&#8201;the statement in the document having the later date modifies or supersedes the earlier statement. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We have not, and Jefferies has not, authorized any other person to provide you with information that is in addition to or different from that contained or incorporated by reference in this prospectus, along with the information contained in any permitted free writing prospectuses we have authorized for use in connection with this offering. Neither we nor Jefferies take any responsibility for, or can provide any assurance as to the reliability of, any information other than the information contained or incorporated by reference in this prospectus or any permitted free writing prospectuses we have authorized for use in connection with this offering. You should assume that the information appearing in this prospectus is accurate only as of the date on the front cover of this prospectus. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Our business, financial condition, results of operations and prospects may have changed since that date. Information contained on, or accessible through, our website is not part of this prospectus. We and Jefferies are offering to sell, and seeking offers to buy, shares of common stock only in jurisdictions where offers and sales are permitted. The distribution of this prospectus and the offering of the common stock in certain jurisdictions may be restricted by law. Persons outside the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions relating to, the offering of the common stock and the distribution of this prospectus outside the United States. This prospectus does not constitute, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy, any securities offered by this prospectus by any person in any jurisdiction in which it is unlawful for such person to make such an offer or solicitation. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Unless the context otherwise requires, we use the terms &#8220;Protagonist,&#8221; the &#8220;company,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; and &#8220;our&#8221; in this prospectus to refer to Protagonist Therapeutics, Inc. and, where appropriate, our subsidiaries.</font>
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      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">S-2</font>
          <br >
        </div>
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      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tPRO1">&#8203;</a>
      </div>
      <div style="margin-top:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="border:1pt #000 solid;margin-top:3.85pt;min-height:694pt;margin-left:57.66pt;width:480pt;">
        <div style="margin-top:17.5pt;min-height:660pt;margin-left:12pt;width:456pt;">
          <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
            <font style="letter-spacing:-0.2pt;">PROSPECTUS SUPPLEMENT SUMMARY</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
          </div>
          <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;font-style:italic;">
            <font style="letter-spacing:0.2pt;">The following summary of our business highlights certain of the information contained elsewhere in, or incorporated by reference into, this prospectus supplement and the accompanying prospectus. This summary is not complete and does not contain all of the information that you should consider before deciding whether to invest in shares of our common stock. You should carefully read this entire prospectus supplement and the accompanying prospectus, including any information incorporated by reference, which are described under the headings &#8220;Where You Can Find Additional Information&#8221; and &#8220;Incorporation of Certain Information by Reference&#8221; herein and therein. In particular, you should carefully consider the risks and uncertainties described under the heading &#8220;Risk Factors&#8221; in this prospectus supplement and in the accompanying prospectus, as well as those contained in the other documents incorporated by reference herein and any related free writing prospectus</font><font style="font-style:normal;letter-spacing:0.2pt;">. </font>
          </div>
          <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
            <font style="letter-spacing:-0.2pt;">Company Overview</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
          </div>
          <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">We are a biopharmaceutical company with peptide-based new chemical entities rusfertide, PN-943 and PN-235 in different stages of development, all derived from the Company&#8217;s proprietary discovery technology platform. Our clinical programs fall into two broad categories of diseases; (i)&#160;hematology and blood disorders, and (ii)&#160;inflammatory and immunomodulatory diseases. </font>
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          <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
            <font style="letter-spacing:-0.2pt;">Corporate Information</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
          </div>
          <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">Our principal executive offices are located at 7707 Gateway Boulevard, Suite 140, Newark, California&#160;94560. Our telephone number is (510) 474-0170. Our website address is www.protagonist&#8209;inc.com. References to our website address do not constitute incorporation by reference of the information contained on the website, and the information contained on the website is not part of this document. We have included our website in this prospectus supplement solely as an inactive textual reference. </font>
          </div>
        </div>
        <div style="margin-top:2pt;margin-left:12pt;width:456pt;">
          <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">&#160;</font>
            <br >
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        </div>
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      <div style="margin-top:2.1316282072803E-14pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">S-3</font>
          <br >
        </div>
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      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tOFF1">&#8203;</a>
      </div>
      <div style="margin-top:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="border:1pt #000 solid;margin-top:3.85pt;min-height:694pt;margin-left:57.66pt;width:480pt;">
        <div style="margin-top:17.5pt;margin-left:12pt;width:456pt;">
          <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
            <font style="letter-spacing:-0.2pt;">THE OFFERING</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
          </div>
          <div style="width:144pt;">
            <div style="margin-left:10pt; text-indent:-10pt; margin-top:6pt; line-height:12pt;">
              <font style="letter-spacing:0.2pt;">Common stock offered by us pursuant to this prospectus supplement </font>
            </div>
          </div>
          <div style="margin-left:168pt; margin-top:-12pt; width:288pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">Shares of our common stock having an aggregate offering price of up to $100.0&#160;million. </font>
          </div>
          <div style="width:144pt;">
            <div style="margin-left:10pt; text-indent:-10pt; margin-top:6pt; line-height:12pt;">
              <font style="letter-spacing:0.2pt;">Common stock to be outstanding immediately after this </font>
              <br >
              <font style="letter-spacing:0.2pt;">offering </font>
            </div>
          </div>
          <div style="margin-left:168pt; margin-top:-12pt; width:288pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">Up to 58,091,268 shares of our common stock, assuming sales of 9,407,337 shares of our common stock in this offering at a public offering price of $10.63 per share, which was the last reported sale price per share of our common stock on the Nasdaq Global Market on August&#160;2, 2022. The actual number of shares of our common stock issued will vary depending on the sales price under this offering. </font>
          </div>
          <div style="width:144pt;">
            <div style="margin-left:10pt; text-indent:-10pt; margin-top:6pt; line-height:12pt;">
              <font style="letter-spacing:0.2pt;">Plan of distribution </font>
            </div>
          </div>
          <div style="margin-left:168pt; margin-top:-12pt; width:288pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">&#8220;At the market offering&#8221; that may be made from time to time through our sales agent, Jefferies. See &#8220;Plan of Distribution&#8221; on page S-11 of this prospectus supplement. </font>
          </div>
          <div style="width:144pt;">
            <div style="margin-left:10pt; text-indent:-10pt; margin-top:6pt; line-height:12pt;">
              <font style="letter-spacing:0.2pt;">Use of proceeds </font>
            </div>
          </div>
          <div style="margin-left:168pt; margin-top:-12pt; width:288pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">We currently intend to use the net proceeds from this offering for working capital, capital expenditures and general corporate purposes, which may include, among other things, funding research and development, clinical trials, vendor payables, potential regulatory submissions, hiring additional personnel and capital expenditures. See &#8220;Use of Proceeds&#8221; on page S-8 of this prospectus supplement. </font>
          </div>
          <div style="width:144pt;">
            <div style="margin-left:10pt; text-indent:-10pt; margin-top:6pt; line-height:12pt;">
              <font style="letter-spacing:0.2pt;">Risk factors </font>
            </div>
          </div>
          <div style="margin-left:168pt; margin-top:-12pt; width:288pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">Investing in our common stock involves significant risks. Please read the information contained in and incorporated by reference under the heading &#8220;Risk Factors&#8221; on page S-6 of this prospectus supplement and page 4 of the accompanying prospectus and under similar headings in the other documents that are filed after the date hereof and incorporated by reference into this prospectus supplement, together with the other information included in or incorporated by reference into this prospectus supplement and the accompanying prospectus, before deciding whether to invest in our common stock. </font>
          </div>
          <div style="width:144pt;">
            <div style="white-space:nowrap; margin-left:10pt; text-indent:-10pt; margin-top:6pt; line-height:12pt;">
              <font style="letter-spacing:0.2pt;">Nasdaq Global Market </font>
              <br >
              <font style="letter-spacing:0.2pt;">symbol </font>
            </div>
          </div>
          <div style="margin-left:168pt; margin-top:-12pt; width:288pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">&#8220;PTGX&#8221;</font>
          </div>
          <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">The number of shares of common stock to be outstanding after this offering is based on 48,683,931 shares of our common stock outstanding as of June&#160;30, 2022 and excludes: </font>
          </div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
            <br >
          </div>
          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">5,564,352 shares of common stock issuable upon the exercise of stock options issued and outstanding under our 2016 Equity Incentive Plan (the &#8220;2016 Plan&#8221;), as of June&#160;30, 2022, having a weighted average exercise price of $19.96 per share; </font>
          </div>
          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
            <br >
          </div>
          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">737,340 shares of common stock issuable upon the vesting of outstanding restricted stock&#160;units, under the 2016 Plan, as of June&#160;30, 2022; </font>
          </div>
          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">219,000 shares of common stock issuable upon the vesting of outstanding performance stock&#160;units, under the 2016 Plan, as of June&#160;30, 2022; </font>
          </div>
          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
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          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">an aggregate of 817,303 shares of common stock, subject to increase on an annual basis, reserved for future issuance under the 2016 Plan, as of June&#160;30, 2022; </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">944,197 shares of common stock issuable upon the exercise of stock options issued and outstanding under our Amended and Restated 2018 Inducement Plan, as amended (the &#8220;Inducement Plan&#8221;), as of June&#160;30, 2022, having a weighted average exercise price of $22.38 per share; </font>
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        <div style="margin-top:2pt;margin-left:12pt;width:456pt;">
          <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2.1316282072803E-14pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">S-4</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
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        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a>
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      <div style="margin-top:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="border:1pt #000 solid;margin-top:3.85pt;min-height:694pt;margin-left:57.66pt;width:480pt;">
        <div style="margin-top:17.5pt;min-height:660pt;margin-left:12pt;width:456pt;">
          <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:left; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" line-height:12pt; text-align:left; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">28,750 shares of common stock issuable upon the vesting of outstanding restricted stock&#160;units, under the Inducement Plan, as of June&#160;30, 2022; </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">an aggregate of 601,042 shares of common stock reserved for future issuance under the Inducement Plan, as of June&#160;30, 2022; </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">316,572 shares of common stock issuable upon the exercise of stock options issued and outstanding under our 2007 Equity Incentive Plan, as of June&#160;30, 2022, having a weighted average exercise price of $3.38 per share; </font>
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            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">1,285,068 shares of our common stock reserved for future issuance under our 2016 Employee Stock Purchase Plan, as of June&#160;30, 2022; </font>
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          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">2,750,000 shares of common stock issuable upon the exercise of warrants outstanding as of June&#160;30, 2022, at a weighted average exercise price of $12.50 per share; and </font>
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          <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
          <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
            <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
            <font style="letter-spacing:0.2pt;">400,000 shares of common stock issuable upon the exercise of warrants outstanding as of June&#160;30, 2022, at a weighted average exercise price of $0.00001 per share. </font>
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          <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
            <font style="letter-spacing:0.2pt;">Unless otherwise indicated, all information in this prospectus supplement assumes no exercise of outstanding stock options or warrants or vesting of restricted stock&#160;units or performance stock&#160;units as of June&#160;30, 2022.</font>
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        <div style="margin-top:2pt;margin-left:12pt;width:456pt;">
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            <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:0.2pt;">S-5</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tRIS1">&#8203;</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
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        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">RISK FACTORS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Investing in our securities involves risks. You should carefully consider the risks, uncertainties and other factors described in our most recent Annual Report on Form 10-K, as supplemented and updated by subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that we have filed or will file with the SEC, and in other documents which are incorporated by reference into this prospectus supplement, including the risk factors and other information contained in or incorporated by reference into this prospectus supplement before investing in any of our securities. Our business, financial condition, results of operations, cash flows or prospectus supplement could be materially adversely affected by any of these risks. The risks and uncertainties described in the documents incorporated by reference herein are not the only risks and uncertainties that you may face.</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Risks Relating to this Offering</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">We have broad discretion as to the use of proceeds from this offering and may not use the proceeds effectively.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Our management will retain broad discretion as to the allocation of the proceeds and may spend these proceeds in ways in which you may not agree. We intend to use the net proceeds, if any, from this offering for working capital, capital expenditures and general corporate purposes, which may include, among other things, funding research and development, clinical trials, vendor payables, potential regulatory submissions, hiring additional personnel and capital expenditures. Our management will have considerable discretion in the application of the net proceeds, and you will not have the opportunity, as part of your investment decision, to assess whether the proceeds are being used appropriately. The failure of our management to apply these funds effectively could result in unfavorable returns and uncertainty about our prospects, each of which could cause the price of our common stock to decline. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">You may experience immediate and substantial dilution in the net tangible book value per share of the common stock you purchase.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The price per share of common stock being offered may be higher than the net tangible book value per share of our outstanding common stock prior to this offering. Assuming that an aggregate of 9,407,337 shares of common stock are sold at a price of $10.63 per share, the last reported sale price of shares of our common stock on The Nasdaq Global Market on August&#160;2, 2022, for aggregate gross proceeds of approximately $100&#160;million, and after deducting commissions and estimated offering expenses payable by us, new investors in this offering would incur immediate dilution of $4.34 per share. In addition, you may also experience additional dilution after this offering on any future equity issuances, including the issuance of common stock in connection with the 2016 Plan or the Inducement Plan. To the extent we raise additional capital by issuing equity securities, our stockholders will experience substantial additional dilution. See &#8220;Dilution&#8221; for additional information. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">You may experience future dilution as a result of future equity offerings.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In order to raise additional capital, we expect to in the future offer additional shares of our common stock or other securities convertible into or exchangeable for our common stock. We cannot assure you that we will be able to sell shares or other securities in any other offering at a price per share that is equal to or greater than the price per share paid by investors in this offering, and investors purchasing shares or other securities in the future could have rights superior to existing stockholders. The price per share at which we sell additional shares of our common stock or other securities convertible into or exchangeable for our common stock in future transactions may be higher or lower than the price per share in this offering. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:11.5pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">The actual number of shares of common stock we will issue under the sales agreement, at any one time or in total, is uncertain.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Subject to certain limitations in the sales agreement and compliance with applicable law, we have the discretion to deliver a placement notice to Jefferies at any time throughout the term of the sales agreement. The number of shares of common stock that are sold by Jefferies after delivering a placement notice will fluctuate based on the market price of the shares of common stock during the sales period and limits we set with Jefferies. Because the price per share of each share sold will fluctuate based on the market price of </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">S-6</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
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        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-bottom:452pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">shares of our common stock during the sales period, it is not possible at this stage to predict the number of shares of common stock that will be ultimately issued. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">The shares of common stock offered hereby will be sold in &#8220;at the market offerings,&#8221; and investors who buy common stock at different times will likely pay different prices.</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Investors who purchase shares in this offering at different times will likely pay different prices, and so may experience different outcomes in their investment results. We will have discretion, subject to market demand, to vary the timing, prices, and numbers of shares sold, and there is no maximum sales price. Pursuant to the parameters set by our board of directors, there will be a minimum sales price for shares of our common stock sold in this offering, which will limit our ability to make sales if the public trading price of our common stock drops below that minimum sales price. Such minimum sales price may be below the price paid by investors in this offering. Further, our board of directors will retain the ability to increase or decrease such minimum sales price in the future. Investors may experience a decline in the value of their shares as a result of share sales made at prices lower than the prices they paid. </font>
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      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:0.2pt;">S-7</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tUSE1">&#8203;</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-bottom:460pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">USE OF PROCEEDS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We will retain broad discretion over the use of the net proceeds, if any, from the sale of the securities offered hereby. We may issue and sell shares of common stock having aggregate sales proceeds of up to $100,000,000 from time to time. Because there is no minimum offering amount required as a condition to close this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not determinable at this time. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We intend to use the net proceeds from the sale by us of the securities to which this prospectus supplement relates for working capital, capital expenditures and general corporate purposes, which may include, among other things, funding research and development, clinical trials, vendor payables, potential regulatory submissions, hiring additional personnel and capital expenditures. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Pending the use of the net proceeds, we may invest the proceeds in interest-bearing, investment-grade securities, certificates of deposit or government securities. </font>
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      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">S-8</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tDIL1">&#8203;</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">DILUTION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Dilution represents the difference between the amount per share of common stock paid by purchasers of shares of common stock in this offering and the as-adjusted net tangible book value per share of our common stock immediately after this offering. The data in this section are derived from our balance sheet as of June&#160;30, 2022. Net tangible book value per share of common stock is equal to our total tangible assets less the amount of our total liabilities, divided by the sum of the number of shares of common stock outstanding as of June&#160;30, 2022, excluding shares of common stock underlying outstanding options. Our net tangible book value as of June&#160;30, 2022 was $268.0&#160;million, or $5.50 per share of common stock. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">After giving effect to the assumed sale of shares of common stock in the aggregate amount of $100,000,000 at an assumed offering price of $10.63 per share, which was the last reported sale price per share of our common stock on The Nasdaq Global Market on August&#160;2, 2022, and after deducting commissions and estimated offering expenses payable by us, our as-adjusted net tangible book value as of June&#160;30, 2022 would have been $365.4&#160;million, or $6.29 per share of common stock. This would represent an immediate increase in net tangible book value to existing stockholders of $0.79 per share of common stock and immediate dilution in pro&#160;forma to purchasers of shares of common stock in this offering of $4.34 per share of common stock. The following table illustrates this dilution per share of common stock: </font>
        </div>
        <table style="width:456pt;height:94pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:381.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Assumed public offering price per share of common stock </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:0pt 0pt 1pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">10.63</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:381.59pt;text-align:left;">
              <div style="margin-left:10pt;">
                <font style="letter-spacing:0.2pt;">Net tangible book value per share of common stock as of June&#160;30, 2022 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">5.50</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:381.59pt;white-space:normal;text-align:left;">
              <div style="margin-left:20pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">Increase in net tangible book value per share of common stock attributable to new investors </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">0.79</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:381.59pt;text-align:left;">
              <div style="margin-left:20pt; text-indent:-10pt;">
                <font style="letter-spacing:0.2pt;">As-adjusted net tangible book value per share of common stock immediately after this </font>
                <br >
                <font style="letter-spacing:0.2pt;">offering </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">6.29</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.833pt 0pt; width:381.59pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Dilution per share of common stock to new investors </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:17.25pt; text-align:right; white-space:nowrap;">4.34</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:7.9pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The table above assumes, for illustrative purposes, that an aggregate of 9,407,337 shares of our common stock are sold at a price of $10.63 per share, the last reported sale price of our common stock on the Nasdaq Global Market on August&#160;2, 2022, for aggregate gross proceeds of $100&#160;million. The shares sold in this offering, if any, will be sold from time to time at various prices. An increase of $1.00 per share in the price at which the shares are sold from the assumed offering price of $10.63 per share shown in the table above, assuming all of our common stock in the aggregate amount of $100&#160;million during the term of the sales agreement with Jefferies is sold at that price, would result in an increase in the dilution in net tangible book value per share to new investors in this offering to $4.25 per share, after deducting commissions and estimated aggregate offering expenses payable by us. A decrease of $1.00 per share in the price at which the shares are sold from the assumed offering price of $10.63 per share shown in the table above, assuming all of our common stock in the aggregate amount of $100&#160;million during the term of the sales agreement with Jefferies is sold at that price, would result in a decrease in the dilution in net tangible book value per share to new investors in this offering to $4.44 per share, after deducting commissions and estimated aggregate offering expenses payable by us. This information is supplied for illustrative purposes only and may differ based on the actual offering price and the actual number of shares offered. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The above discussion and table are based on 48,683,931 shares of our common stock outstanding as of June&#160;30, 2022 and exclude: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">5,564,352 shares of common stock issuable upon the exercise of stock options issued and outstanding under the 2016 Plan, as of June&#160;30, 2022, having a weighted average exercise price of $19.96 per share; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">737,340 shares of common stock issuable upon the vesting of outstanding restricted stock&#160;units, under the 2016 Plan, as of June&#160;30, 2022; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">219,000 shares of common stock issuable upon the vesting of outstanding performance stock&#160;units, under the 2016 Plan, as of June&#160;30, 2022; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">an aggregate of 817,303 shares of common stock, subject to increase on an annual basis, reserved for future issuance under the 2016 Plan, as of June&#160;30, 2022; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">S-9</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:308pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">944,197 shares of common stock issuable upon the exercise of stock options issued and outstanding under the Inducement Plan, as of June&#160;30, 2022, having a weighted average exercise price of $22.38 per share; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">28,750 shares of common stock issuable upon the vesting of outstanding restricted stock&#160;units under the Inducement Plan, as of June&#160;30, 2022; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">an aggregate of 601,042 shares of common stock reserved for future issuance under the Inducement Plan, as of June&#160;30, 2022; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">316,572 shares of common stock issuable upon the exercise of stock options issued and outstanding under our 2007 Equity Incentive Plan, as of June&#160;30, 2022, having a weighted average exercise price of $3.38 per share; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">1,285,068 shares of our common stock reserved for future issuance under our 2016 Employee Stock Purchase Plan, as of June&#160;30, 2022; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">2,750,000 shares of common stock issuable upon the exercise of warrants outstanding as of June&#160;30, 2022, at a weighted average exercise price of $12.50 per share; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">400,000 shares of common stock issuable upon the exercise of warrants outstanding as of June&#160;30, 2022, at a weighted average exercise price of $0.00001 per share. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">To the extent that options or warrants outstanding as of June&#160;30, 2022 have been or may be exercised, restricted stock&#160;units or performance&#160;units outstanding as of June&#160;30, 2022 continue to vest, or other shares are issued, investors purchasing our common stock in this offering may experience further dilution. In addition, we may choose to raise additional capital due to market conditions or strategic considerations even if we believe we have sufficient funds for our current or future operating plans. To the extent that additional capital is raised through the sale of equity or convertible debt securities, the issuance of these securities could result in further dilution to our stockholders. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">S-10</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tPLA1">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">PLAN OF DISTRIBUTION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We have entered into a sales agreement with Jefferies, under which we may offer and sell up to $100,000,000 of our shares of common stock from time to time through Jefferies acting as agent. Sales of our shares of common stock, if any, under this prospectus supplement and the accompanying prospectus will be made by any method that is deemed to be an &#8220;at the market offering&#8221; as defined in Rule&#160;415(a)(4) under the Securities Act. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Each time we wish to issue and sell our shares of common stock under the sales agreement, we will notify Jefferies of the number of shares to be issued, the dates on which such sales are anticipated to be made, any limitation on the number of shares to be sold in any one day and any minimum price below which sales may not be made. Once we have so instructed Jefferies, unless Jefferies declines to accept the terms of such notice, Jefferies has agreed to use its commercially reasonable efforts consistent with its normal trading and sales practices to sell such shares up to the amount specified on such terms. The obligations of Jefferies under the sales agreement to sell our shares of common stock are subject to a number of conditions that we must meet. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The settlement of sales of shares between us and Jefferies is generally anticipated to occur on the second trading day following the date on which the sale was made. Sales of our shares of common stock as contemplated in this prospectus supplement will be settled through the facilities of The Depository Trust Company or by such other means as we and Jefferies may agree upon. There is no arrangement for funds to be received in an escrow, trust or similar arrangement. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We will pay Jefferies a commission of up to 3% of the aggregate gross proceeds we receive from each sale of our shares of common stock. Because there is no minimum offering amount required as a condition to close this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not determinable at this time. In addition, we have agreed to reimburse Jefferies for the fees and disbursements of its counsel, payable upon execution of the sales agreement, in an amount not to exceed $75,000, in addition to certain ongoing disbursements of its legal counsel. We estimate that the total expenses for the offering, excluding any commissions or expense reimbursement payable to Jefferies under the terms of the sales agreement, will be approximately $300,000. The remaining sale proceeds, after deducting any other transaction fees, will equal our net proceeds from the sale of such shares. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Jefferies will provide written confirmation to us before the open on The Nasdaq Global Market on the day following each day on which our shares of common stock are sold under the sales agreement. Each confirmation will include the number of shares sold on that day, the aggregate gross proceeds of such sales and the proceeds to us. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In connection with the sale of our shares of common stock on our behalf, Jefferies will be deemed to be an &#8220;underwriter&#8221; within the meaning of the Securities Act, and the compensation of Jefferies will be deemed to be underwriting commissions or discounts. We have agreed to indemnify Jefferies against certain civil liabilities, including liabilities under the Securities Act. We have also agreed to contribute to payments Jefferies may be required to make in respect of such liabilities. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The offering of our shares of common stock pursuant to the sales agreement will terminate upon the earlier of (i)&#160;the sale of all shares of common stock subject to the sales agreement and (ii)&#160;the termination of the sales agreement as permitted therein. We and Jefferies may each terminate the sales agreement at any time upon ten trading days&#8217; prior notice. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This summary of the material provisions of the sales agreement does not purport to be a complete statement of its terms and conditions. The sales agreement has been filed as an exhibit to our Registration Statement on Form S-3 of which this prospectus supplement forms a part. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Jefferies and its affiliates may in the future provide various investment banking, commercial banking, financial advisory and other financial services for us and our affiliates, for which services they may in the future receive customary fees. In the course of its business, Jefferies may actively trade our securities for its own account or for the accounts of customers, and, accordingly, Jefferies may at any time hold long or short positions in such securities. </font>
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          <font style="letter-spacing:0.2pt;">S-11</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">A prospectus supplement and the accompanying prospectus in electronic format may be made available on a website maintained by Jefferies, and Jefferies may distribute the prospectus supplement and the accompanying prospectus electronically. </font>
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          <font style="letter-spacing:0.2pt;">S-12</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tLEG1">&#8203;</a><a name="tEXP1">&#8203;</a>
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      <div style="margin-top:6pt;margin-bottom:412pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:-0.2pt;">LEGAL MATTERS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Gibson, Dunn &amp; Crutcher LLP, San Francisco, California will pass upon the validity of the shares of common stock offered hereby. Latham &amp; Watkins LLP is counsel for Jefferies in connection with this offering. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">EXPERTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Ernst &amp; Young LLP, independent registered public accounting firm, has audited our consolidated financial statements as of December&#160;31, 2021 and 2020 and for each of the&#160;years then ended, included in our <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/1377121/000155837022002385/ptgx-20211231x10k.htm">Annual Report on Form 10-K for the year ended December&#160;31, 2021</a>, and the effectiveness of our internal control over financial reporting as of December&#160;31, 2021, as set forth in their reports, which are incorporated by reference in this prospectus and elsewhere in the registration statement. Our financial statements are incorporated by reference in reliance on Ernst &amp; Young LLP&#8217;s report, given on their authority as experts in accounting and auditing. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The financial statements for the year ended December&#160;31, 2019 incorporated in this prospectus supplement by reference to the Annual Report on Form 10-K for the year ended December&#160;31, 2021 have been so incorporated in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting. </font>
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          <font style="letter-spacing:-0.2pt;">WHERE YOU CAN FIND MORE INFORMATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We file annual, quarterly and special reports, proxy statements and other information with the SEC, and we have filed with the SEC a registration statement on Form S-3 under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;) with respect to the securities offered by this prospectus. This prospectus, which forms part of the registration statement, does not contain all of the information included in the registration statement, including its exhibits and schedules. For further information about us and the securities described in this prospectus, you should refer to the registration statement, its exhibits and schedules and our reports, proxies, information statements and other information filed with the SEC. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Our filings are available to the public on the Internet, through a database maintained by the SEC at </font>
          <br >
          <font style="font-style:italic;letter-spacing:0.2pt;">http://www.sec.gov</font><font style="letter-spacing:0.2pt;">. We also maintain a website at </font><font style="font-style:italic;letter-spacing:0.2pt;">www.protagonist-inc.com</font><font style="letter-spacing:0.2pt;">. We have included our website address for the information of prospective investors and do not intend it to be an active link to our website. Information contained on our website does not constitute a part of this prospectus (or any document incorporated by reference herein). </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tINC1">&#8203;</a>
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          <font style="letter-spacing:-0.2pt;">INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The SEC allows us to incorporate by reference the information and reports we file with it, which means that we can disclose important information to you by referring you to these documents. The information incorporated by reference is an important part of this prospectus, and information that we file after the date hereof with the SEC will automatically update and supersede the information already incorporated by reference. We are incorporating by reference the documents listed below: </font>
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          <font style="letter-spacing:0.2pt;">our <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/1377121/000155837022002385/ptgx-20211231x10k.htm">Annual Report on Form 10-K for the year ended December&#160;31, 2021 filed with the SEC on February&#160;28, 2022</a> (and any portions of our <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1377121/000110465922045545/tm223475-1_def14a.htm">Definitive Proxy Statement on Schedule&#160;14A filed on April&#160;13, 2022</a> that are incorporated by reference into our <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/1377121/000155837022002385/ptgx-20211231x10k.htm">Annual Report on Form 10-K for the year ended December&#160;31, 2021); </a></font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">our Quarterly Reports on Form 10-Q for the quarters ended March&#160;31, 2022, filed with the SEC on <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/1377121/000155837022007438/ptgx-20220331x10q.htm">May&#160;5, 2022</a>, and June&#160;30, 2022, filed with the SEC on <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/1377121/000155837022012277/ptgx-20220630x10q.htm">August&#160;4, 2022</a>; </font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">our Current Reports on Form 8-K filed with the SEC on <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/1377121/000110465922025661/tm227311d1_8k.htm">February&#160;22, 2022</a>, <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/1377121/000110465922037018/tm2210222d1_8k.htm">March&#160;23, 2022</a>, <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/1377121/000110465922041035/tm2210916d1_8k.htm">March&#160;31, 2022</a> and <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/1377121/000110465922067589/tm2217556d1_8k.htm">June&#160;2, 2022</a>; and </font>
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        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <font style="letter-spacing:0.2pt;">the description of our common stock set forth in our registration statement on <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1377121/000119312516675653/d223095d8a12ba.htm">Form 8-A, filed with the SEC on August&#160;9, 2016</a>, including any amendments thereto or reports filed for the purposes of updating this description, including <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1377121/000155837022002385/ptgx-20211231xex4d7.htm">Exhibit&#160;4.7 to our Annual Report on Form 10-K for the fiscal year ended December&#160;31, 2021, filed with the SEC on February&#160;28, 2022. </a></font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">All documents we file with the SEC pursuant to Sections&#160;13(a), 13(c), 14 or 15(d) of the Exchange Act shall be deemed incorporated by reference in this prospectus and to be a part of this prospectus from the date of filing of those documents, with the exception of any portion of any report or document that is not deemed &#8220;filed&#8221; under such provisions on or after the date of this prospectus, until the earlier of the date on which: (1)&#160;all of the securities registered hereunder have been sold; or (2)&#160;the registration statement of which this prospectus is a part has been withdrawn. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Under no circumstances will any information filed under Items&#160;2.02 or 7.01 of Current Report on Form 8-K be deemed incorporated herein by reference unless such Form 8-K expressly provides to the contrary. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Upon written or oral request, we will provide without charge to each person to whom a copy of the prospectus is delivered a copy of the documents incorporated by reference herein (other than exhibits to such documents unless such exhibits are specifically incorporated by reference herein). You may request a copy of these filings, at no cost, by writing, calling or emailing us at the contact information set forth below. We have authorized no one to provide you with any information that differs from that contained in this prospectus. Accordingly, we take no responsibility for any other information that others may give you. You should not assume that the information in this prospectus is accurate as of any date other than the date of the front cover of this prospectus. </font>
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        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Protagonist Therapeutics, Inc. </font>
          <br >
          <font style="letter-spacing:0.2pt;">7707 Gateway Boulevard, Suite 140 </font>
          <br >
          <font style="letter-spacing:0.2pt;">Newark, CA 94560-1160 </font>
          <br >
          <font style="letter-spacing:0.2pt;">(510) 474-0170</font>
          <br >
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          <font style="letter-spacing:0.2pt;">S-15</font>
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          <div style="margin-left: 0pt; width: 456pt; margin-top: 2.8pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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        <div style="margin-top:73.8pt; text-align:center; width:456pt; line-height:16pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:14pt;">
          <font style="letter-spacing:-0.28pt;">UP TO $100,000,000</font><font style="font-weight:normal;letter-spacing:0.28pt;"> </font>
        </div>
        <div style="position:relative;margin-top:60.08pt; text-align:center; width:456pt;">
          <img src="lg_protagonist-pn.jpg" alt="[MISSING IMAGE: lg_protagonist-pn.jpg]" height="81" width="325" >
        </div>
        <div style="margin-top:76.6pt; text-align:center; width:456pt; line-height:16pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:14pt;">
          <font style="letter-spacing:-0.28pt;">Up to $100,000,000 of Shares</font><font style="font-weight:normal;letter-spacing:0.28pt;"> </font>
        </div>
        <div style="margin-top:60.08pt; text-align:center; width:456pt; line-height:16pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:14pt;">
          <font style="letter-spacing:-0.28pt;">Common Stock</font><font style="font-weight:normal;letter-spacing:0.28pt;"> </font>
        </div>
        <div style="margin-top:69.147pt; text-align:center; width:456pt;">
          <div style="margin-left: 38.158%; margin-right: 38.158%; margin-top: 69.1466666666666pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:15.8pt; text-align:center; width:456pt; line-height:14pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:12pt;">
          <font style="letter-spacing:-0.24pt;">PROSPECTUS SUPPLEMENT</font><font style="font-weight:normal;letter-spacing:0.24pt;"> </font>
        </div>
        <div style="margin-top:18.053pt; text-align:center; width:456pt;">
          <div style="margin-left: 38.158%; margin-right: 38.158%; margin-top: 18.0533333333333pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:75.8pt; text-align:center; width:456pt; line-height:18pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:16pt;">
          <font style="letter-spacing:-0.32pt;">Jefferies</font><font style="font-weight:normal;letter-spacing:0.32pt;"> </font>
        </div>
        <div style="margin-top:59.98pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:-0.2pt;">&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;, 2022</font>
        </div>
        <div style="margin-top:40.95pt; width:456pt;">
          <div style="margin-left: 0pt; width: 456pt; margin-top: 40.95pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:2.8pt; width:456pt;">
          <div style="margin-left: 0pt; width: 456pt; margin-top: 2.79999999999995pt; font-size: 2pt; line-height: 0pt; border-bottom: 2pt solid #000000; ">&#8203;</div>
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">PART II</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">INFORMATION NOT REQUIRED IN THE PROSPECTUS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Item&#160;14.&nbsp;&nbsp;&nbsp;Other Expenses of Issuance and Distribution</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The expenses payable by us in connection with the issuance and distribution of the securities being registered hereunder on Form S-3 (other than underwriting discounts and commissions, if any) are set forth below. Each item listed is estimated, except for the SEC registration fee. </font>
        </div>
        <table style="width:456pt;height:122.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:407.12pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;text-align:center;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Amount </font>
                <br >
                <font style="letter-spacing:-0.16pt;">To Be Paid </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:407.12pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Securities and Exchange Commission registration fee </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.085pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">27,810</td>
            <td style="padding:0pt;padding-left:2.085pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:407.12pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Printing fees and expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.085pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">
              <font style="position:relative;">&#8203;</font><font style="position:absolute;"><font style="font-weight:bold;font-size:8pt;"></font>*</font>
            </td>
            <td style="padding:0pt;padding-left:2.085pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:407.12pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Legal fees and expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.085pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">
              <font style="position:relative;">&#8203;</font><font style="position:absolute;"><font style="font-weight:bold;font-size:8pt;"></font>*</font>
            </td>
            <td style="padding:0pt;padding-left:2.085pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:407.12pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Accounting fees and expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.085pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">
              <font style="position:relative;">&#8203;</font><font style="position:absolute;"><font style="font-weight:bold;font-size:8pt;"></font>*</font>
            </td>
            <td style="padding:0pt;padding-left:2.085pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:407.12pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Transfer agent and registrar fees </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.085pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">
              <font style="position:relative;">&#8203;</font><font style="position:absolute;"><font style="font-weight:bold;font-size:8pt;"></font>*</font>
            </td>
            <td style="padding:0pt;padding-left:2.085pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:407.12pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Miscellaneous fees and expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.085pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">
              <font style="position:relative;">&#8203;</font><font style="position:absolute;"><font style="font-weight:bold;font-size:8pt;"></font>*</font>
            </td>
            <td style="padding:0pt;padding-left:2.085pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 3.25pt 0pt; width:407.12pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Total </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:2.085pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:3pt double #000000; min-width:21pt; text-align:right; white-space:nowrap;">
              <font style="position:relative;">&#8203;</font><font style="position:absolute;"><font style="font-weight:bold;font-size:8pt;"></font>*</font>
            </td>
            <td style="padding:0pt;padding-left:2.085pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:5.7pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:8.2pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">*</font>
          <br >
        </div>
        <div style=" margin-top:8.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Estimated expenses not presently known. Each prospectus supplement will reflect estimated expenses based on the amount of the related offering. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Item&#160;15.&nbsp;&nbsp;&nbsp;Indemnification of Directors and Officers</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Section&#160;145 of the Delaware General Corporation Law authorizes a court to award, or a corporation&#8217;s board of directors to grant, indemnity to directors and officers in terms sufficiently broad to permit such indemnification under certain circumstances for liabilities, including reimbursement for expenses incurred, arising under the Securities Act of 1933, as amended. Our amended and restated certificate of incorporation provides for indemnification of our directors, officers, employees and other agents to the maximum extent permitted by the Delaware General Corporation Law, and our amended and restated bylaws provide for indemnification of our directors, officers, employees and other agents to the maximum extent permitted by the Delaware General Corporation Law. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We have entered into indemnification agreements with our directors and officers whereby we have agreed to indemnify our directors and officers to the fullest extent permitted by law, including indemnification against expenses and liabilities incurred in legal proceedings to which the director or officer was, or is threatened to be made, a party by reason of the fact that such director or officer is or was a director, officer, employee or agent of Protagonist, provided that such director or officer acted in good faith and in a manner that the director or officer reasonably believed to be in, or not opposed to, the best interest of Protagonist. At present, there is no pending litigation or proceeding involving a director or officer of Protagonist regarding which indemnification is sought, nor is the registrant aware of any threatened litigation that may result in claims for indemnification. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We maintain insurance policies that indemnify our directors and officers against various liabilities arising under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, that might be incurred by any director or officer in his capacity as such. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The underwriting agreement(s) that the Registrant may enter into may provide for indemnification by any underwriters of the Registrant, its directors, its officers who sign the registration statement and the Registrant&#8217;s controlling persons for some liabilities, including liabilities arising under the Securities Act. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Insofar as indemnification for liabilities arising under the Securities Act may be permitted for directors, executive officers or persons controlling us, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">II-1</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:79.5pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Item&#160;16.&nbsp;&nbsp;&nbsp;Exhibits</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A list of exhibits filed with this registration statement on Form S-3 is set forth on the Exhibit&#160;Index and is incorporated herein by reference. </font>
        </div>
        <table style="width:456pt;height:407.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:41pt;">
              <font style="letter-spacing:-0.16pt;">Exhibit </font>
              <br >
              <font style="letter-spacing:-0.16pt;">Number </font>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:403pt;text-align:center;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Description of Exhibit </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:41pt;">
              <font style="margin-left:10pt;letter-spacing:0.2pt;">1.1* </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:403pt;">
              <font style="letter-spacing:0.2pt;">Form of Underwriting Agreement. </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:41pt;">
              <font style="margin-left:10pt;letter-spacing:0.2pt;">1.2*** </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:403pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="tm2222499d2_ex1-2.htm">Open Market Sale Agreement</a><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;"><a style="-sec-extract:exhibit" href="tm2222499d2_ex1-2.htm">SM</a></font><a style="-sec-extract:exhibit" href="tm2222499d2_ex1-2.htm">, dated August&#160;5, 2022, by and between Protagonist Therapeutics, Inc. and Jefferies LLC.</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:41pt;">
              <font style="margin-left:10pt;letter-spacing:0.2pt;">3.1 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:403pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1377121/000119312516683189/d237730dex31.htm">Amended and Restated Certificate of Incorporation of the Registrant (incorporated by reference from Exhibit&#160;3.1 to the Registrant&#8217;s Current Report on Form 8-K filed on August&#160;16, 2016 (Commission File No. 001-37852)).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:41pt;">
              <font style="margin-left:10pt;letter-spacing:0.2pt;">3.2 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:403pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1377121/000119312516665762/d144462dex32b.htm">Bylaws of the Registrant (incorporated by reference from Exhibit&#160;3.2 to the Registrant&#8217;s Registration Statement on Form S-1, as amended, filed on August&#160;1, 2016 (Commission File No. 333-212476)).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:41pt;">
              <font style="margin-left:10pt;letter-spacing:0.2pt;">4.1 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:403pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1377121/000119312516665762/d144462dex41.htm">Specimen stock certificate evidencing the shares of common stock (incorporated by reference from Exhibit&#160;4.1 to the Registrant&#8217;s Registration Statement on Form S-1, as amended, filed on August&#160;1, 2016 (Commission File No. 333-212476)).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:41pt;">
              <font style="margin-left:10pt;letter-spacing:0.2pt;">4.2*** </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:403pt;">
              <div style="letter-spacing:0.2pt;">
                <a style="-sec-extract:exhibit" href="tm2222499d2_ex4-2.htm">Form of indenture for senior debt securities and the related form of senior debt security.</a>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:41pt;">
              <font style="margin-left:10pt;letter-spacing:0.2pt;">4.3*** </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:403pt;white-space:normal;">
              <div style="letter-spacing:0.2pt;">
                <a style="-sec-extract:exhibit" href="tm2222499d2_ex4-3.htm">Form of indenture of subordinated debt securities and related form of subordinated debt security.</a>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:41pt;">
              <font style="margin-left:10pt;letter-spacing:0.2pt;">4.4* </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:403pt;">
              <font style="letter-spacing:0.2pt;">Form of Warrant Agreement and Warrant Certificate. </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:41pt;">
              <font style="margin-left:10pt;letter-spacing:0.2pt;">4.5* </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:403pt;">
              <font style="letter-spacing:0.2pt;">Form of Unit Agreement and Unit Certificate. </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:41pt;">
              <font style="margin-left:10pt;letter-spacing:0.2pt;">5.1*** </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:403pt;">
              <div style="letter-spacing:0.2pt;">
                <a style="-sec-extract:exhibit" href="tm2222499d2_ex5-1.htm">Opinion of Gibson, Dunn &amp; Crutcher LLP, relating to base prospectus.</a>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:41pt;">
              <font style="margin-left:10pt;letter-spacing:0.2pt;">5.2*** </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:403pt;">
              <div style="white-space:nowrap;letter-spacing:0.2pt;">
                <a style="-sec-extract:exhibit" href="tm2222499d2_ex5-2.htm">Opinion of Gibson, Dunn &amp; Crutcher LLP, relating to sales agreement prospectus supplement.</a>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:41pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">23.1*** </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:403pt;">
              <div style="letter-spacing:0.2pt;">
                <a style="-sec-extract:exhibit" href="tm2222499d2_ex23-1.htm">Consent of Ernst &amp; Young LLP, Independent Registered Public Accounting Firm.</a>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:41pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">23.2*** </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:403pt;">
              <div style="letter-spacing:0.2pt;">
                <a style="-sec-extract:exhibit" href="tm2222499d2_ex23-2.htm">Consent of PricewaterhouseCoopers LLP, Independent Registered Public Accounting Firm.</a>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:41pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">23.3*** </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:403pt;">
              <div style="letter-spacing:0.2pt;">
                <a style="-sec-extract:exhibit" href="tm2222499d2_ex5-1.htm">Consent of Gibson, Dunn &amp; Crutcher LLP (see Exhibit&#160;5.1 hereto).</a>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:41pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">24.1*** </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:403pt;">
              <div style="letter-spacing:0.2pt;">
                <a href="#tSIG">Power of Attorney (included on the signature pages to the registration statement).</a>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:41pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">25.1** </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:403pt;white-space:normal;">
              <font style="letter-spacing:0.2pt;">Form T-1 Statement of Eligibility of Trustee for Senior Indenture under the Trust Indenture Act of 1939. </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:41pt;">
              <font style="letter-spacing:0.2pt;">&#8199;25.2** </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:403pt;white-space:normal;">
              <font style="letter-spacing:0.2pt;">Form T-1 Statement of Eligibility of Trustee for Subordinated Indenture under the Trust Indenture Act of 1939. </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.833pt 0pt; width:41pt;">
              <font style="letter-spacing:0.2pt;">107*** </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.833pt 0pt; width:403pt;">
              <div style="letter-spacing:0.2pt;">
                <a style="-sec-extract:exhibit" href="tm2222499d2_exfilingfees.htm">Filing Fee Table.</a>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:12.5pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">*</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">To be filed, if necessary, by amendment or as an exhibit to a document to be incorporated or deemed to be incorporated by reference in this registration statement, including a Current Report on Form 8-K. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">**</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">To be filed in accordance with the requirements of Section&#160;305(b)(2) of the Trust Indenture Act of 1939, as amended, and the applicable rules thereunder. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">***</font>
          <br >
        </div>
        <div style=" margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Filed herewith. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">II-2</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Item&#160;17.&nbsp;&nbsp;&nbsp;Undertakings</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The undersigned registrant hereby undertakes: </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(a)(1)&nbsp;&nbsp;&nbsp;To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement: </font>
        </div>
        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(i)&nbsp;&nbsp;&nbsp;To include any prospectus required by Section&#160;10(a)(3) of the Securities Act of 1933, as amended (&#8220;Securities Act&#8221;); </font>
        </div>
        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(ii)&nbsp;&nbsp;&nbsp;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 Securities and Exchange Commission pursuant to Rule&#160;424(b) if, in the aggregate, the changes in volume and price represent no more than a 20&#160;percent change in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the effective registration statement; and </font>
        </div>
        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(iii)&nbsp;&nbsp;&nbsp;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; provided, however, 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 Securities and Exchange Commission by the registrant pursuant to Section&#160;13 or Section&#160;15(d) of the Securities Exchange Act of 1934, as amended (&#8220;Exchange Act&#8221;), that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule&#160;424(b) that is part of the registration statement; </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(2)&nbsp;&nbsp;&nbsp;That, for the purpose of determining any liability under the Securities Act, 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>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(3)&nbsp;&nbsp;&nbsp;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>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(4)&nbsp;&nbsp;&nbsp;That, for the purpose of determining liability under the Securities Act to any purchaser: </font>
        </div>
        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(i)&nbsp;&nbsp;&nbsp;Each prospectus filed by the registrant pursuant to Rule&#160;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>
        </div>
        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(ii)&nbsp;&nbsp;&nbsp;Each prospectus required to be filed pursuant to Rule&#160;424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule&#160;430B relating to an offering made pursuant to Rule&#160;415(a)(1)(i), (vii), or (x)&#160;for the purpose of providing the information required by Section&#160;10(a) of the Securities Act 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&#160;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>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">II-3</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:16pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(5)&nbsp;&nbsp;&nbsp;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>
        </div>
        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(i)&nbsp;&nbsp;&nbsp;Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule&#160;424; </font>
        </div>
        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(ii)&nbsp;&nbsp;&nbsp;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>
        </div>
        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(iii)&nbsp;&nbsp;&nbsp;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>
        </div>
        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(iv)&nbsp;&nbsp;&nbsp;Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser; </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(6)&nbsp;&nbsp;&nbsp;That, for purposes of determining any liability under the Securities Act, each filing of the registrant&#8217;s annual report pursuant to Section&#160;13(a) or Section&#160;15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&#8217;s annual report pursuant to Section&#160;15(d) of the Exchange Act) 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>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(7)&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act 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 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 and will be governed by the final adjudication of such issue; </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(8)&nbsp;&nbsp;&nbsp;That, for purposes of determining any liability under the Securities Act of 1933, the information omitted from the form of prospectus filed as part of this registration statement in reliance upon Rule&#160;430A and contained in a form of prospectus filed by the registrant pursuant to Rule&#160;424(b)(1) or (4)&#160;or 497(h) under the Securities Act of 1933 shall be deemed to be part of this registration statement as of the time it was declared effective; </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(9)&nbsp;&nbsp;&nbsp;That, for the purpose of determining any liability under the Securities Act of 1933, each post-effective amendment that contains a form of prospectus 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; and </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(10)&nbsp;&nbsp;&nbsp;To file an application for the purpose of determining the eligibility of the trustee to act under subsection (a)&#160;of Section&#160;310 of the Trust Indenture Act of 1939 in accordance with the rules and regulations prescribed by the Securities and Exchange Commission under Section&#160;305(b)(2) of the Trust Indenture Act of 1939.</font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">II-4</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tSIG">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">SIGNATURES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">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 Newark, State of California, on August&#160;5, 2022. </font>
        </div>
        <div style="margin-left:240pt; margin-top:8pt; width:216pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">PROTAGONIST THERAPEUTICS, INC.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; margin-left:240pt; line-height:12pt; margin-top:12.69pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">By:</font>
          <br >
        </div>
        <div style=" margin-top:12.69pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:260pt;">
          <font style="letter-spacing:0.2pt;">/s/ Dinesh V. Patel, Ph.D.</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="white-space:nowrap; margin-left:260pt; margin-top:2.7pt; width:196pt;">
          <div style="margin-left: 0pt; width: 196pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-left:260pt; margin-top:2.7pt; width:196pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Dinesh V. Patel, Ph.D. </font>
        </div>
        <div style="margin-left:260pt; margin-top:2.69pt; width:196pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">President, Chief Executive Officer and Director (Principal Executive Officer)</font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">POWER OF ATTORNEY</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Each person whose individual signature appears below hereby authorizes and appoints Dinesh V. Patel and Asif Ali and each of them, with full power of substitution and resubstitution and full power to act without the other, as his or her true and lawful attorney in fact and agent to act in his or her name, place and stead and to execute in the name and on behalf of each person, individually and in each capacity stated below, and to file any and all amendments to this Registration Statement, including any and all post effective amendments and amendments thereto, and any registration statement relating to the same offering as this Registration Statement that is to be effective upon filing pursuant to Rule&#160;462(b) under the Securities Act of 1933, as amended, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys in fact and agents, and each of them, full power and authority to do and perform each and every act and thing, ratifying and confirming all that said attorneys in fact and agents or any of them or their or his substitute or substitutes may lawfully do or cause to be done by virtue thereof. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement and Power of Attorney has been signed by the following person in the capacities and on the date indicated. </font>
        </div>
        <table style="width:456pt;height:279.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;min-height:9.25pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:183.5pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Signature </font>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:183.5pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Title </font>
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            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:65pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Date </font>
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            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;min-height:54.25pt;white-space:normal;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:18.917pt 0pt 0.5pt 0pt; width:183.5pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">/s/ Dinesh V. Patel, Ph.D.</font>
              </div>
              <div style="margin-top:2.5pt; text-align:justify;">
                <div style="margin-left: 0pt; width: 183.5pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt; text-align:center;">
                <font style="letter-spacing:0.2pt;">Dinesh V. Patel, Ph.D. </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:18.917pt 0pt 0.5pt 0pt; width:183.5pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">President, Chief Executive Officer and Director (</font><font style="font-style:italic;letter-spacing:0.2pt;">Principal Executive Officer</font><font style="letter-spacing:0.2pt;">) </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:18.917pt 0pt 0.5pt 0pt; width:65pt;white-space:nowrap;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">August&#160;5, 2022 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;min-height:45pt;white-space:normal;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:10.167pt 0pt 0.5pt 0pt; width:183.5pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">/s/ Asif Ali</font>
              </div>
              <div style="margin-top:2.5pt; text-align:justify;">
                <div style="margin-left: 0pt; width: 183.5pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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              <div style="margin-top:2pt; text-align:center;">
                <font style="letter-spacing:0.2pt;">Asif Ali </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:10.167pt 0pt 0.5pt 0pt; width:183.5pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Chief Financial Officer (</font><font style="font-style:italic;letter-spacing:0.2pt;">Principal Financial And Accounting Officer</font><font style="letter-spacing:0.2pt;">) </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:10.167pt 0pt 0.5pt 0pt; width:65pt;white-space:nowrap;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">August&#160;5, 2022 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;min-height:45pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:10.167pt 0pt 0.5pt 0pt; width:183.5pt;white-space:normal;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">/s/ Harold E. Selick, Ph.D.</font>
              </div>
              <div style="margin-top:2.5pt; text-align:justify;">
                <div style="margin-left: 0pt; width: 183.5pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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              <div style="margin-top:2pt; text-align:center;">
                <font style="letter-spacing:0.2pt;">Harold E. Selick, Ph.D. </font>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:10.167pt 0pt 0.5pt 0pt; width:183.5pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Chairman of the Board of Directors </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:10.167pt 0pt 0.5pt 0pt; width:65pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">August&#160;5, 2022 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;min-height:45pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:10.167pt 0pt 0.5pt 0pt; width:183.5pt;white-space:normal;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">/s/ Bryan Giraudo</font>
              </div>
              <div style="margin-top:2.5pt; text-align:justify;">
                <div style="margin-left: 0pt; width: 183.5pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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              <div style="margin-top:2pt; text-align:center;">
                <font style="letter-spacing:0.2pt;">Bryan Giraudo </font>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:10.167pt 0pt 0.5pt 0pt; width:183.5pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Director </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:10.167pt 0pt 0.5pt 0pt; width:65pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">August&#160;5, 2022 </font>
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            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;min-height:45pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:10.167pt 0pt 0.5pt 0pt; width:183.5pt;white-space:normal;">
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                <font style="letter-spacing:0.2pt;">/s/ Sarah Noonberg, M.D., Ph.D.</font>
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              <div style="margin-top:2.5pt; text-align:justify;">
                <div style="margin-left: 0pt; width: 183.5pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt; text-align:center;">
                <font style="letter-spacing:0.2pt;">Sarah Noonberg, M.D., Ph.D. </font>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:10.167pt 0pt 0.5pt 0pt; width:183.5pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Director </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:10.167pt 0pt 0.5pt 0pt; width:65pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">August&#160;5, 2022 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:41pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:10.167pt 0pt 0.5pt 0pt; width:183.5pt;white-space:normal;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">/s/ Sarah O&#8217;Dowd</font>
              </div>
              <div style="margin-top:2.5pt; text-align:justify;">
                <div style="margin-left: 0pt; width: 183.5pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt; text-align:center;">
                <font style="letter-spacing:0.2pt;">Sarah O&#8217;Dowd </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:10.167pt 0pt 0.5pt 0pt; width:183.5pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Director </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:10.167pt 0pt 0.5pt 0pt; width:65pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">August&#160;5, 2022 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">II-5</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style=" width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Helvetica, Arial, sans-serif;font-size:9pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <tr style="line-height:8pt;min-height:9.25pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:183.5pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Signature </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:183.5pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Title </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:65pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Date </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:54.25pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:18.917pt 0pt 0.5pt 0pt; width:183.5pt;white-space:normal;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">/s/ William D. Waddill</font>
              </div>
              <div style="margin-top:2.5pt; text-align:justify;">
                <div style="margin-left: 0pt; width: 183.5pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt; text-align:center;">
                <font style="letter-spacing:0.2pt;">William D. Waddill </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:18.917pt 0pt 0.5pt 0pt; width:183.5pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Director </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:18.917pt 0pt 0.5pt 0pt; width:65pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">August&#160;5, 2022 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:41pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:10.167pt 0pt 0.5pt 0pt; width:183.5pt;white-space:normal;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">/s/ Lewis T. Williams, M.D., Ph.D.</font>
              </div>
              <div style="margin-top:2.5pt; text-align:justify;">
                <div style="margin-left: 0pt; width: 183.5pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt; text-align:center;">
                <font style="letter-spacing:0.2pt;">Lewis T. Williams, M.D., Ph.D. </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:10.167pt 0pt 0.5pt 0pt; width:183.5pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Director </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:10.167pt 0pt 0.5pt 0pt; width:65pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.2pt;">August&#160;5, 2022</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
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          <font style="letter-spacing:0.2pt;">II-6</font>
          <br >
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.2
<SEQUENCE>2
<FILENAME>tm2222499d2_ex1-2.htm
<DESCRIPTION>EXHIBIT 1.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B><I>Exhibit&nbsp;1.2</I></B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>OPEN
MARKET SALE AGREEMENT</U></B></FONT><B><SUP>SM</SUP></B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">August&nbsp;5, 2022</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">JEFFERIES LLC<BR>
520 Madison Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10022</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Protagonist
Therapeutics,&nbsp;Inc., a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), proposes, subject to the terms and conditions stated
herein, to issue and sell from time to time through Jefferies LLC, as sales agent and/or principal (the &ldquo;<B>Agent</B>&rdquo;), shares
of the Company&rsquo;s common stock, par value $0.00001 per share (the &ldquo;<B>Common Shares</B>&rdquo;), having an aggregate offering
price of up to $100,000,000 on the terms set forth in this agreement (this &ldquo;<B>Agreement</B>&rdquo;)</FONT>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;1. DEFINITIONS</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Certain
Definitions</U>. For purposes of this Agreement, capitalized terms used herein and not otherwise defined shall have the following respective
meanings:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Affiliate</B>&rdquo;
of a Person means another Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under
common control with, such first- mentioned Person. The term &ldquo;control&rdquo; (including the terms &ldquo;controlling,&rdquo; &ldquo;controlled
by&rdquo; and &ldquo;under common control with&rdquo;) means the possession, direct or indirect, of the power to direct or cause the direction
of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Agency Period</B>&rdquo;
means the period commencing on the date of this Agreement and expiring on the earliest to occur of (x)&nbsp;the date on which the Agent
shall have placed the Maximum Program Amount pursuant to this Agreement and (y)&nbsp;the date this Agreement is terminated pursuant to
<U>&lrm;Section&nbsp;7</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Applicable Time</B>&rdquo; means (i)&nbsp;each
Representation Date and (ii)&nbsp;the time of each sale of any Shares pursuant to this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Commission</B>&rdquo;
means the U.S. Securities and Exchange Commission.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Exchange Act</B>&rdquo;
means the Securities Exchange Act of 1934, as amended, and the rules&nbsp;and regulations of the Commission thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Floor Price</B>&rdquo;
means the minimum price set by the Company in the Issuance Notice below which the Agent shall not sell Shares during the applicable period
set forth in the Issuance Notice, which may be adjusted by the Company at any time during the period set forth in the Issuance Notice
by delivering written notice of such change to the Agent and which in no event shall be less than $1.00 without the prior written consent
of the Agent, which may be withheld in the Agent&rsquo;s sole discretion.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>SM</SUP> &ldquo;Open Market Sale Agreement&rdquo; is a service
mark of Jefferies LLC</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Issuance Amount</B>&rdquo;
means the aggregate Sales Price of the Shares to be sold by the Agent pursuant to any Issuance Notice.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Issuance Notice</B>&rdquo;
means a written notice delivered to the Agent by the Company in accordance with this Agreement in the form attached hereto as <U>Exhibit&nbsp;A
</U>that is executed by its Chief Executive Officer, President or Chief Financial Officer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Issuance Notice
Date</B>&rdquo; means any Trading Day during the Agency Period that an Issuance Notice is delivered pursuant to <U>&lrm;Section&nbsp;3(b)(i)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Issuance Price</B>&rdquo;
means the Sales Price less the Selling Commission.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Maximum Program
Amount</B>&rdquo; means Common Shares with an aggregate Sales Price of the lesser of (a)&nbsp;the number or dollar amount of Common Shares
the sale of which is registered under the effective Registration Statement (as defined below) pursuant to which the offering is being
made, (b)&nbsp;the number of authorized but unissued Common Shares (less Common Shares issuable upon exercise, conversion or exchange
of any outstanding securities of the Company or otherwise reserved from the Company&rsquo;s authorized capital stock), (c)&nbsp;the number
or dollar amount of Common Shares permitted to be sold under Form&nbsp;S-3 (including General Instruction I.B.6 thereof, if applicable),
or (d)&nbsp;the number or dollar amount of Common Shares for which the Company has filed a Prospectus (as defined below).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Principal Market</B>&rdquo;
means the Nasdaq Global Market or such other national securities exchange on which the Common Shares, including any Shares, are then listed.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Sales Price</B>&rdquo;
means the actual sale execution price of each Share placed by the Agent pursuant to this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Securities Act</B>&rdquo;
means the Securities Act of 1933, as amended, and the rules&nbsp;and regulations of the Commission thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Selling Commission</B>&rdquo;
means up to three percent (3.0%) of the gross proceeds of Shares sold pursuant to this Agreement, or as otherwise agreed between the Company
and the Agent with respect to any Shares sold pursuant to this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;<B>Settlement
Date</B>&rdquo; </FONT>means the second business day following each Trading Day during the period set forth in the Issuance Notice on
which Shares are sold pursuant to this Agreement, when the Company shall deliver to the Agent the amount of Shares sold on such Trading
Day and the Agent shall deliver to the Company the Issuance Price received on such sales.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Shares</B>&rdquo;
means the Company&rsquo;s Common Shares issued or issuable pursuant to this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Trading Day</B>&rdquo;
means any day on which the Principal Market is open for trading.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;2. REPRESENTATIONS AND WARRANTIES OF THE COMPANY</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company represents and
warrants to, and agrees with, the Agent that as of (1)&nbsp;the date of this Agreement, (2)&nbsp;each Issuance Notice Date, (3)&nbsp;each
Settlement Date, (4)&nbsp;each Triggering Event Date (as defined below) and (5)&nbsp;as of each Time of Sale (each of the times referenced
above is referred to herein as a &ldquo;<B>Representation Date</B>&rdquo;), except as may be disclosed in the Prospectus (including any
documents incorporated by reference therein and any supplements thereto) on or before a Representation Date, unless such representation,
warranty or agreements specifies a different time:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Registration
Statement</U>. The Company has prepared and filed or will file with the Commission a shelf registration statement on Form&nbsp;S-3&nbsp;that
contains a base prospectus. Such registration statement registers the issuance and sale by the Company of the Shares under the Securities
Act. The Company may file one or more additional registration statements from time to time that will contain a base prospectus and related
prospectus or prospectus supplement, if applicable, with respect to the Shares. Except where the context otherwise requires, such registration
statement(s), including any information deemed to be a part thereof pursuant to Rule&nbsp;430B under the Securities Act, including all
financial statements, exhibits and schedules thereto and all documents incorporated or deemed to be incorporated therein (the &ldquo;<B>Incorporated
Documents</B>&rdquo;) by reference pursuant to Item 12 of Form&nbsp;S-3 under the Securities Act as from time to time amended or supplemented,
is herein referred to as the &ldquo;<B>Registration Statement</B>,&rdquo; and the prospectus constituting a part of such registration
statement(s), together with any prospectus supplement filed with the Commission pursuant to Rule&nbsp;424(b)&nbsp;under the Securities
Act relating to a particular issuance of the Shares, including all documents incorporated or deemed to be incorporated therein by reference
pursuant to Item 12 of Form&nbsp;S-3 under the Securities Act, in each case, as from time to time amended or supplemented, is referred
to herein as the &ldquo;<B>Prospectus</B>,&rdquo; except that if any revised prospectus is provided to the Agent by the Company for use
in connection with the offering of the Shares that is not required to be filed by the Company pursuant to Rule&nbsp;424(b)&nbsp;under
the Securities Act, the term &ldquo;<B>Prospectus</B>&rdquo; shall refer to such revised prospectus from and after the time it is first
provided to the Agent for such use. The Registration Statement at the time it originally became effective is herein called the &ldquo;<B>Original
Registration Statement</B>.&rdquo; As used in this Agreement, the terms &ldquo;amendment&rdquo; or &ldquo;supplement&rdquo; when applied
to the Registration Statement or the Prospectus shall be deemed to include the filing by the Company with the Commission of any document
under the Exchange Act after the date hereof that is or is deemed to be incorporated therein by reference.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
references in this Agreement to financial statements and schedules and other information which is &ldquo;contained,&rdquo; &ldquo;included&rdquo;
or &ldquo;stated&rdquo; in the Registration Statement or the Prospectus (and all other references of like import) shall be deemed to mean
and include all such financial statements and schedules and other information which is or is deemed to be incorporated by reference in
or otherwise deemed under the Securities Act to be a part of or included in the Registration Statement or the Prospectus, as the case
may be, as of any specified date; and all references in this Agreement to amendments or supplements to the Registration Statement or the
Prospectus shall be deemed to mean and include, without limitation, the filing of any document under the Exchange Act which is or is deemed
to be incorporated by reference in or otherwise deemed under the Securities Act to be a part of or included in the Registration Statement
or the Prospectus, as the case may be, as of any specified date</FONT>. The Company&rsquo;s obligations under this Agreement to furnish,
provide or deliver or make available (and all other similar references) copies of any report or statement shall be deemed satisfied if
the same is filed with the Commission through its Electronic Data Gathering, Analysis and Retrieval system (&ldquo;<B>EDGAR</B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">At the time the Registration
Statement was or will be originally declared effective and at the time the Company&rsquo;s most recent annual report on Form&nbsp;10-K
was filed with the Commission, if later, the Company met the then-applicable requirements for use of Form&nbsp;S-3 under the Securities
Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Compliance
with Registration Requirements</U>. The Original Registration Statement and any Rule&nbsp;462(b)&nbsp;Registration Statement have been
or will be declared effective by the Commission under the Securities Act. The Company has complied or will comply to the Commission&rsquo;s
satisfaction with all requests of the Commission for additional or supplemental information. No stop order suspending the effectiveness
of the Registration Statement or any Rule&nbsp;462(b)&nbsp;Registration Statement is in effect and no proceedings for such purpose have
been instituted or are pending or, to the best knowledge of the Company, are contemplated or threatened by the Commission. At the time
the Company&rsquo;s Annual Report on Form&nbsp;10-K for the year ended December&nbsp;31, 2021 (the &ldquo;<B>Annual Report</B>&rdquo;)
was filed with the Commission, or, if later, at the time the Registration Statement was originally filed with the Commission, the Company
met the then-applicable requirements for use of Form&nbsp;S-3 under the Securities Act. The Company meets the requirements for use of
Form&nbsp;S-3 under the Securities Act specified in the Financial Industry Regulatory Authority,&nbsp;Inc. (&ldquo;<B>FINRA</B>&rdquo;)
Rule&nbsp;5110(h)(1)(C)&nbsp;and is an experienced issuer (as defined in FINRA Rule&nbsp;5110(j)(6)). The documents incorporated or deemed
to be incorporated by reference in the Registration Statement and the Prospectus, at the time they were or hereafter are filed with the
Commission, or became effective under the Exchange Act, as the case may be, complied and will comply in all material respects with the
requirements of the Exchange Act.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Prospectus, when filed,
complied or will comply in all material respects with the Securities Act and, if filed with the Commission through EDGAR (except as may
be permitted by Regulation&nbsp;S-T under the Securities Act), was identical to the copy thereof delivered to the Agent for use in connection
with the issuance and sale of the Shares. Each of the Registration Statement, any Rule&nbsp;462(b)&nbsp;Registration Statement and any
post-effective amendment thereto, at the time it became or becomes effective and at all subsequent times, complied and will comply in
all material respects with the Securities Act and did not and will not contain any untrue statement of a material fact or omit to state
a material fact required to be stated therein or necessary to make the statements therein not misleading. As of the date of this Agreement,
the Prospectus and any Free Writing Prospectus (as defined below) considered together (collectively, the &ldquo;<B>Time of Sale Information</B>&rdquo;)
did not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in
the light of the circumstances under which they were made, not misleading. The Prospectus, as amended or supplemented, as of its date
and at each Representation Date, did not and will not contain any untrue statement of a material fact or omit to state a material fact
necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The representations
and warranties set forth in the three immediately preceding sentences do not apply to statements in or omissions from the Registration
Statement, any Rule&nbsp;462(b)&nbsp;Registration Statement, or any post-effective amendment thereto, or the Prospectus, or any amendments
or supplements thereto, made in reliance upon and in conformity with information relating to the Agent furnished to the Company in writing
by the Agent expressly for use therein, it being understood and agreed that the only such information furnished by the Agent to the Company
consists of the information described in <U>&lrm;Section&nbsp;6</U> below. There are no contracts or other documents required to be described
in the Prospectus or to be filed as exhibits to the Registration Statement which have not been described or filed as required. The Registration
Statement and the offer and sale of the Shares as contemplated hereby meet the requirements of Rule&nbsp;415 under the Securities Act
and comply in all material respects with said rule.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>No
Misstatement or Omission</U>. The Registration Statement, when it became or becomes effective, and the Prospectus and any Free Writing
Prospectus, and any amendment or supplement thereto, on the date of such Prospectus or Free Writing Prospectus, as applicable, or amendment
or supplement, conformed and will conform in all material respects with the requirements of the Securities Act. At each Settlement Date,
the Registration Statement, the Prospectus and any Free Writing Prospectus, as of such date, will conform in all material respects with
the requirements of the Securities Act. The Registration Statement, when it became or becomes effective, did not, and will not, contain
an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements
therein not misleading. The Prospectus and any amendment and supplement thereto, on the date thereof and at each Applicable Time, did
not or will not include an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading. The Incorporated Documents did not, and any further Incorporated
Documents filed after the date of this Agreement, when filed with the Commission, contain an untrue statement of a material fact or omit
to state a material fact required to be stated in such document or necessary to make the statements in such document, in light of the
circumstances under which they were made, not misleading. The foregoing shall not apply to statements in, or omissions from, any such
document made in reliance upon, and in conformity with, information furnished to the Company by the Agent specifically for use in the
preparation thereof.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Conformity
with Exchange Act</U>. The Incorporated Documents or any amendment or supplement thereto, when such documents were or are filed with the
Commission under the Exchange Act, conformed or will conform in all material respects with the requirements of the Exchange Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Financial
Information</U>. The consolidated financial statements of the Company included or incorporated by reference in the Registration Statement,
the Prospectus and the Free Writing Prospectuses, if any, together with the related notes and schedules, present fairly, in all material
respects, the consolidated financial position of the Company and the Subsidiaries (as defined below) as of the dates indicated and the
consolidated results of operations, cash flows and changes in stockholders&rsquo; equity of the Company for the periods specified (subject
to normal year-end audit adjustment for interim financial statements) and have been prepared in compliance with the requirements of the
Securities Act and Exchange Act and in conformity with GAAP (as defined below) applied on a consistent basis during the periods involved
(except for such adjustments to accounting standards and practices as are noted therein and except in the case of unaudited financial
statements to the extent they may exclude footnotes or may be condensed or summary statements); the summary and selected financial data
with respect to the Company and the Subsidiaries contained or incorporated by reference in the Registration Statement, the Prospectus
and the Free Writing Prospectuses, if any, are accurately and fairly presented and prepared on a basis consistent with the financial statements
and books and records of the Company; there are no financial statements (historical or pro forma) that are required to be included or
incorporated by reference in the Registration Statement or the Prospectus that are not included or incorporated by reference as required;
the Company and the Subsidiaries do not have any material liabilities or obligations, direct or contingent (including any off-balance
sheet obligations), not described in the Registration Statement (excluding the exhibits thereto), and the Prospectus; and all disclosures
contained or incorporated by reference in the Registration Statement, the Prospectus and the Free Writing Prospectuses, if any, regarding
 &ldquo;non-GAAP financial measures&rdquo; (as such term is defined by the rules&nbsp;and regulations of the Commission) comply with Regulation
G of the Exchange Act and Item 10 of Regulation S-K under the Securities Act, to the extent applicable. The interactive data in eXtensible
Business Reporting Language included or incorporated by reference in the Registration Statement and the Prospectus fairly presents the
information called for in all material respects and has been prepared in accordance with the Commission&rsquo;s rules&nbsp;and guidelines
applicable thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Conformity
with EDGAR Filing</U>. The Prospectus delivered to the Agent for use in connection with the sale of the Shares pursuant to this Agreement
will be identical to the versions of the Prospectus created to be transmitted to the Commission for filing via EDGAR, except to the extent
permitted by Regulation S-T.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Organization</U>.
The Company and each of its Subsidiaries are duly organized, validly existing as a corporation and in good standing under the laws of
their respective jurisdictions of organization. The Company and each of its Subsidiaries are duly licensed or qualified as a foreign corporation
for transaction of business and in good standing under the laws of each other jurisdiction in which their respective ownership or lease
of property or the conduct of their respective businesses requires such license or qualification, and have all corporate power and authority
necessary to own or hold their respective properties and to conduct their respective businesses as described in the Registration Statement
and the Prospectus, except where the failure to be so qualified or in good standing or have such power or authority would not, individually
or in the aggregate, have a material adverse effect or would reasonably be expected to have a material adverse effect on or affecting
the assets, business, operations, earnings, properties, condition (financial or otherwise) prospects, stockholders&rsquo; equity or results
of operations of the Company and the Subsidiaries taken as a whole, or prevent or materially interfere with consummation of the transactions
contemplated hereby (a &ldquo;<B>Material Adverse Effect</B>&rdquo;).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Subsidiaries</U>.
The subsidiaries set forth on <U>Schedule B</U> (collectively, the &ldquo;<B>Subsidiaries</B>&rdquo;) are the Company&rsquo;s only significant
subsidiaries (as such term is defined in Rule&nbsp;1-02 of Regulation S-X promulgated by the Commission). Except as set forth in the Registration
Statement and in the Prospectus, the Company owns, directly or indirectly, all of the equity interests of the Subsidiaries free and clear
of any lien, charge, security interest, encumbrance, right of first refusal or other restriction, and all the equity interests of the
Subsidiaries are validly issued and are fully paid, nonassessable and free of preemptive and similar rights. No Subsidiary is currently
prohibited, directly or indirectly, from paying any dividends to the Company, from making any other distribution on such Subsidiary&rsquo;s
capital stock, from repaying to the Company any loans or advances to such Subsidiary from the Company or from transferring any of such
Subsidiary&rsquo;s property or assets to the Company or any other Subsidiary of the Company.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>No
Violation or Default</U>. Neither the Company nor any of its Subsidiaries is (i)&nbsp;in violation of its charter or by-laws or similar
organizational documents; (ii)&nbsp;in default, and no event has occurred that, with notice or lapse of time or both, would constitute
such a default, under any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or
any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound or to which any of the property or assets
of the Company or any of its Subsidiaries are subject; or (iii)&nbsp;in violation of any law or statute or any judgment, order, rule&nbsp;or
regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of each of clauses (ii)&nbsp;and (iii)&nbsp;above,
for any such violation or default that would not, individually or in the aggregate, have a Material Adverse Effect. To the Company&rsquo;s
knowledge, no other party under any material contract or other agreement to which it or any of its Subsidiaries is a party is in default
in any respect thereunder where such default would have a Material Adverse Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(j)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>No
Material Adverse Effect</U>. Subsequent to the respective dates as of which information is given in the Registration Statement, the Prospectus
and the Free Writing Prospectuses, if any (including any Incorporated Document), there has not been (i)&nbsp;any Material Adverse Effect
or the occurrence of any development that the Company reasonably expects will result in a Material Adverse Effect, (ii)&nbsp;other than
as contemplated by this Agreement, any transaction which is material to the Company and the Subsidiaries taken as a whole, (iii)&nbsp;any
obligation or liability, direct or contingent (including any off-balance sheet obligations), incurred by the Company or any Subsidiary,
which is material to the Company and the Subsidiaries taken as a whole, (iv)&nbsp;any material change in the capital stock (other than
as a result of the sale of Shares) or outstanding long-term indebtedness of the Company or any of its Subsidiaries or (v)&nbsp;any dividend
or distribution of any kind declared, paid or made on the capital stock of the Company or any Subsidiary, other than in each case above
in the ordinary course of business or as otherwise disclosed in the Registration Statement or Prospectus (including any document deemed
incorporated by reference therein).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(k)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Capitalization</U>.
The issued and outstanding shares of capital stock of the Company have been validly issued, are fully paid and nonassessable and, other
than as disclosed in the Registration Statement or the Prospectus, are not subject to any preemptive rights, rights of first refusal or
similar rights pursuant to the Company&rsquo;s charter, bylaws or any agreement or other instrument to which the Company is a party or
by which the Company is bound. The Company has an authorized, issued and outstanding capitalization as set forth in the Registration Statement
and the Prospectus as of the dates referred to therein (other than the grant of additional options under the Company&rsquo;s existing
stock option plans, or changes in the number of outstanding Common Shares due to the issuance of shares upon the exercise or conversion
of securities exercisable for, or convertible into, Common Shares outstanding on the date hereof) and such authorized capital stock conforms
in all material respects to the description thereof set forth in the Registration Statement and the Prospectus. The description of the
securities of the Company in the Registration Statement and the Prospectus is complete and accurate in all material respects. Except as
disclosed in or contemplated by the Registration Statement or the Prospectus, as of the date referred to therein, the Company does not
have outstanding any options to purchase, or any rights or warrants to subscribe for, or any securities or obligations convertible into,
or exchangeable for, or any contracts or commitments to issue or sell, any shares of capital stock or other securities. Neither the Company
nor any of its Subsidiaries has any securities that have received a rating from any &ldquo;nationally recognized statistical rating organization&rdquo;
as that term is defined in Section&nbsp;3(a)(62) of the Exchange Act.</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(l)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Authorization;
Enforceability</U>. The Company has full legal right, power and authority to enter into this Agreement and perform the transactions contemplated
hereby. This Agreement has been duly authorized, executed and delivered by the Company and is a legal, valid and binding agreement of
the Company enforceable against the Company in accordance with its terms, except to the extent (i)&nbsp;that enforceability may be limited
by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors&rsquo; rights generally and by general equitable
principles and (ii)&nbsp;the indemnification and contribution provisions of <U>Section&nbsp;11</U> hereof may be limited by federal or
state securities laws and public policy considerations in respect thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(m)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Authorization
of Shares</U>. The Shares have been duly authorized for issuance and sale pursuant to this Agreement and, when issued and delivered by
the Company against payment therefor pursuant to this Agreement, will be validly issued, fully paid and nonassessable; and (ii)&nbsp;the
issuance and sale of the Shares is not subject to any preemptive rights, rights of first refusal or other similar rights, and will be
registered pursuant to Section&nbsp;12 of the Exchange Act. The Shares, when issued, will conform in all material respects to the description
thereof set forth in the Prospectus under the caption &ldquo;Description of Capital Stock.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(n)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Stock
Exchange Listing</U>. The Shares are registered pursuant to Section&nbsp;12(b)&nbsp;or 12(g)&nbsp;of the Exchange Act and are listed on
the Principal Market, and the Company has taken no action designed to, or likely to have the effect of, terminating the registration of
the Shares under the Exchange Act or delisting the Shares from the Principal Market, nor has the Company received any notification that
the Commission or the Principal Market is contemplating terminating such registration or listing. To the Company&rsquo;s knowledge, it
is in compliance with all applicable listing requirements of the Principal Market.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(o)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>No
Consents Required</U>. No consent, approval, authorization, order, registration or qualification of or with any court or arbitrator or
governmental or regulatory authority is required for the execution, delivery and performance by the Company of this Agreement or the issuance
and sale by the Company of the Shares, except for (i)&nbsp;the registration of the Shares under the Securities Act; and (ii)&nbsp;such
consents, approvals, authorizations, orders and registrations or qualifications as may be required under applicable state securities laws
or by the by-laws and rules&nbsp;of FINRA or the Principal Market in connection with the sale of the Shares by the Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(p)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>No
Preferential Rights</U>. Except as set forth in the Registration Statement and the Prospectus, (i)&nbsp;no person, as such term is defined
in Rule&nbsp;1-02 of Regulation S-X promulgated under the Securities Act (each, a &ldquo;<B>Person</B>&rdquo;), has the right, contractual
or otherwise, to cause the Company to issue or sell to such Person any Common Shares or shares of any other capital stock or other securities
of the Company, (ii)&nbsp;no Person has any preemptive rights, resale rights, rights of first refusal, rights of co-sale, or any other
rights (whether pursuant to a &ldquo;poison pill&rdquo; provision or otherwise) to purchase, from the Company, any Common Shares or shares
of any other capital stock or other securities of the Company, (iii)&nbsp; no Person has the right to act as an underwriter or as a financial
advisor to the Company in connection with the offer and sale of the Shares, and (iv)&nbsp;no Person has the right, contractual or otherwise,
to require the Company to register under the Securities Act any Common Shares or shares of any other capital stock or other securities
of the Company, or to include any such shares or other securities in the Registration Statement or the offering contemplated thereby,
whether as a result of the filing or effectiveness of the Registration Statement or the sale of the Shares as contemplated thereby or
otherwise.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(q)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Independent
Public Accounting Firm</U>. Ernst&nbsp;&amp; Young LLP (the &ldquo;<B>Accountant</B>&rdquo;), whose report on the consolidated financial
statements of the Company is filed with the Commission as part of the Company&rsquo;s most recent Annual Report on Form&nbsp;10-K filed
with the Commission and incorporated by reference into the Registration Statement and the Prospectus, are and, during the periods covered
by their report, were an independent registered public accounting firm within the meaning of the Securities Act and the Public Company
Accounting Oversight Board (United States). To the Company&rsquo;s knowledge, the Accountant is not in violation of the auditor independence
requirements of the Sarbanes-Oxley Act of 2002 (the &ldquo;<B>Sarbanes-Oxley Act</B>&rdquo;) with respect to the Company.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(r)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Enforceability
of Agreements</U>. All agreements between the Company and third parties expressly referenced in the Prospectus are legal, valid and binding
obligations of the Company enforceable in accordance with their respective terms, except to the extent that (i)&nbsp;enforceability may
be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors&rsquo; rights generally and by general
equitable principles and (ii)&nbsp;the indemnification provisions of certain agreements may be limited by federal or state securities
laws or public policy considerations in respect thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(s)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>No
Litigation</U><B><I>. </I></B>Except as set forth in the Registration Statement or the Prospectus, there are no pending legal, governmental
or regulatory actions, suits, proceedings, audits or investigations to which the Company or a Subsidiary is a party or to which any property
of the Company or any of its Subsidiaries is the subject that, individually or in the aggregate, would have a Material Adverse Effect
and, to the Company&rsquo;s knowledge, no such actions, suits, proceedings, audits or investigations are threatened or contemplated by
any legal, governmental or regulatory authority or threatened by others that, individually or in the aggregate, would have a Material
Adverse Effect; and (i)&nbsp;there are no current or pending legal, governmental or regulatory audits or investigations, actions, suits
or proceedings that are required under the Securities Act to be described in the Prospectus that are not so described; and (ii)&nbsp;there
are no contracts or other documents that are required under the Securities Act to be filed as exhibits to the Registration Statement that
are not so filed.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(t)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Consents
and Permits</U>. Except as disclosed in the Registration Statement and the Prospectus, the Company and its Subsidiaries have made all
filings, applications and submissions required by, possesses and is operating in compliance with, all approvals, licenses, certificates,
certifications, clearances, consents, grants, exemptions, marks, notifications, orders, permits and other authorizations issued by, the
appropriate federal, state or foreign governmental or regulatory authorities (including, without limitation, the United States Food and
Drug Administration (the &ldquo;<B>FDA</B>&rdquo;), the United States Drug Enforcement Administration or any other foreign, federal, state,
provincial, court or local government or regulatory authorities including self-regulatory organizations engaged in the regulation of clinical
trials, pharmaceuticals, biologics or biohazardous substances or materials) necessary for the ownership or lease of their respective properties
or to conduct their respective businesses as described in the Registration Statement and the Prospectus (collectively, &ldquo;<B>Permits</B>&rdquo;),
except for such Permits the failure of which to possess, obtain or make the same would not have a Material Adverse Effect; the Company
and its Subsidiaries are in compliance with the terms and conditions of all such Permits, except where the failure to be in compliance
would not have a Material Adverse Effect; all of the Permits are valid and in full force and effect, except where any invalidity, individually
or in the aggregate, would not be reasonably expected to have a Material Adverse Effect; and neither the Company nor any of its Subsidiaries
has received any written notice relating to the limitation, revocation, cancellation, suspension, modification or non-renewal of any such
Permit which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would have a Material Adverse
Effect, or has any reason to believe that any such license, certificate, permit or authorization will not be renewed in the ordinary course.
To the extent required by applicable laws and regulations of the FDA, the Company or the applicable Subsidiary has submitted to the FDA
an Investigational New Drug Application or amendment or supplement thereto for each clinical trial it has conducted or sponsored or is
conducting or sponsoring; all such submissions were in material compliance with applicable laws and rules&nbsp;and regulations when submitted
and no material deficiencies have been asserted by the FDA with respect to any such submissions. The Company and each Subsidiary possess
such valid and current certificates, authorizations or permits issued by the appropriate state, federal or foreign regulatory agencies
or bodies necessary to conduct their respective businesses, and neither the Company nor any Subsidiary has received, or has any reason
to believe that it will receive, any notice of proceedings relating to the revocation or modification of, or non-compliance with, any
such certificate, authorization or permit which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding,
could result in a Material Adverse Effect.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(u)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Regulatory
Filings</U>. Except as disclosed in the Registration Statement and the Prospectus, neither the Company nor any of its Subsidiaries has
failed to file with the applicable regulatory authorities (including, without limitation, the FDA, or any foreign, federal, state, provincial
or local governmental or regulatory authority performing functions similar to those performed by the FDA) any required filing, declaration,
listing, registration, report or submission, except for such failures that, individually or in the aggregate, would not have a Material
Adverse Effect; except as disclosed in the Registration Statement and the Prospectus, all such filings, declarations, listings, registrations,
reports or submissions were in compliance with applicable laws when filed and no deficiencies have been asserted by any applicable regulatory
authority with respect to any such filings, declarations, listings, registrations, reports or submissions, except for any deficiencies
that, individually or in the aggregate, would not have a Material Adverse Effect. The Company has operated and currently is, in all material
respects, in compliance with the United States Federal Food, Drug, and Cosmetic Act, all applicable rules&nbsp;and regulations of the
FDA and other federal, state, local and foreign governmental bodies exercising comparable authority. The Company has no knowledge of any
studies, tests or trials not described in the Prospectus the results of which reasonably call into question in any material respect the
results of the studies, tests and trials described in the Prospectus.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Intellectual
Property</U>. Except as disclosed in the Registration Statement and the Prospectus, the Company and its Subsidiaries own, possess, license
or have other rights to use all foreign and domestic patents, patent applications, trade and service marks, trade and service mark registrations,
trade names, copyrights, licenses, inventions, trade secrets, technology,&nbsp;Internet domain names, know-how and other intellectual
property (collectively, the &ldquo;<B>Intellectual Property</B>&rdquo;), necessary for the conduct of their respective businesses as now
conducted except to the extent that the failure to own, possess, license or otherwise hold adequate rights to use such Intellectual Property
would not, individually or in the aggregate, have a Material Adverse Effect. Except as disclosed in the Registration Statement and the
Prospectus (i)&nbsp;there are no rights of third parties to any such Intellectual Property owned by the Company and its Subsidiaries;
(ii)&nbsp;to the Company&rsquo;s knowledge, there is no infringement by third parties of any such Intellectual Property; (iii)&nbsp;there
is no pending or, to the Company&rsquo;s knowledge, threatened action, suit, proceeding or claim by others challenging the Company&rsquo;s
and its Subsidiaries&rsquo; rights in or to any such Intellectual Property, and the Company is unaware of any facts which could form a
reasonable basis for any such action, suit, proceeding or claim; (iv)&nbsp;there is no pending or, to the Company&rsquo;s knowledge, threatened
action, suit, proceeding or claim by others challenging the validity or scope of any such Intellectual Property; (v)&nbsp;there is no
pending or, to the Company&rsquo;s knowledge, threatened action, suit, proceeding or claim by others that the Company and its Subsidiaries
infringe or otherwise violate any patent, trademark, copyright, trade secret or other proprietary rights of others; (vi)&nbsp;to the Company&rsquo;s
knowledge, there is no third-party U.S. patent or published U.S. patent application which contains claims for which an Interference Proceeding
(as defined in 35 U.S.C. &sect; 135) has been commenced against any patent or patent application described in the Prospectus as being
owned by or licensed to the Company; and (vii)&nbsp;the Company and its Subsidiaries have complied with the terms of each agreement pursuant
to which Intellectual Property has been licensed to the Company or such Subsidiary, and all such agreements are in full force and effect,
except, in the case of any of clauses (i)-(vii)&nbsp;above, for any such infringement by third parties or any such pending or threatened
suit, action, proceeding or claim as would not, individually or in the aggregate, result in a Material Adverse Effect.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(w)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Clinical
Studies</U>. The preclinical studies and tests and clinical trials described in the Prospectus were, and, if still pending, are being
conducted in all material respects in accordance with the experimental protocols, procedures and controls pursuant to, where applicable,
accepted professional and scientific standards for products or product candidates comparable to those being developed by the Company;
the descriptions of such studies, tests and trials, and the results thereof, contained in the Prospectus are accurate and complete in
all material respects; the Company is not aware of any tests, studies or trials not described in the Prospectus, the results of which
reasonably call into question the results of the tests, studies and trials described in the Prospectus; and the Company has not received
any written notice or correspondence from the FDA or any foreign, state or local governmental body exercising comparable authority or
any institutional review board or comparable authority requiring the termination, suspension, clinical hold or material modification of
any tests, studies or trials.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(x)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Market
Capitalization</U>. At the time the Registration Statement was or will be originally declared effective, and at the time of the Company&rsquo;s
filing with the Commission of a Form&nbsp;10-K following the date of this Agreement, the Company met or will meet the then applicable
requirements for the use of Form&nbsp;S-3 under the Securities Act, including, but not limited to, General Instruction I.B.6 of Form&nbsp;S-3.
The Company is not a shell company (as defined in Rule&nbsp;405 under the Securities Act) and has not been a shell company for at least
12 calendar months previously and if it has been a shell company at any time previously, has filed current Form&nbsp;10 information (as
defined in General Instruction I.B.6 of Form&nbsp;S-3) with the Commission at least 12 calendar months previously reflecting its status
as an entity that is not a shell company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(y)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>No
Material Defaults</U>. Neither the Company nor any of the Subsidiaries has defaulted on any installment on indebtedness for borrowed money
or on any rental on one or more long-term leases, which defaults, individually or in the aggregate, would have a Material Adverse Effect.
The Company has not filed a report pursuant to Section&nbsp;13(a)&nbsp;or 15(d)&nbsp;of the Exchange Act since the filing of its last
Annual Report on Form&nbsp;10-K, indicating that it (i)&nbsp;has failed to pay any dividend or sinking fund installment on preferred stock
or (ii)&nbsp;has defaulted on any installment on indebtedness for borrowed money or on any rental on one or more long-term leases, which
defaults, individually or in the aggregate, would have a Material Adverse Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(z)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Certain
Market Activities</U>. Neither the Company, nor any of the Subsidiaries, nor any of their respective directors, officers or controlling
persons has taken, directly or indirectly, any action designed, or that has constituted or might reasonably be expected to cause or result
in, under the Exchange Act or otherwise, the stabilization or manipulation of the price of any security of the Company to facilitate the
sale or resale of the Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(aa)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Broker/Dealer
Relationships</U>. Neither the Company nor any of the Subsidiaries (i)&nbsp;is required to register as a &ldquo;broker&rdquo; or &ldquo;dealer&rdquo;
in accordance with the provisions of the Exchange Act or (ii)&nbsp;directly or indirectly through one or more intermediaries, controls
or is a &ldquo;person associated with a member&rdquo; or &ldquo;associated person of a member&rdquo; (within the meaning set forth in
the FINRA Manual).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(bb)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>No
Reliance</U>. The Company has not relied upon the Agent or legal counsel for the Agent for any legal, tax or accounting advice in connection
with the offering and sale of the Shares.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(cc)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Taxes</U>.
The Company and each of its Subsidiaries have filed all federal, state, local and foreign tax returns which have been required to be filed
by the Company or a Subsidiary, or have properly requested extensions thereof, and paid all taxes shown thereon through the date hereof,
to the extent that such taxes have become due and are not being contested in good faith, except where the failure to so file or pay would
not have a Material Adverse Effect. Except as otherwise disclosed in or contemplated by the Registration Statement or the Prospectus,
no tax deficiency has been determined adversely to the Company or any of its Subsidiaries which has had, or would have, individually or
in the aggregate, a Material Adverse Effect. The Company has no knowledge of any federal, state or other governmental tax deficiency,
penalty or assessment which has been or might be asserted or threatened against it which would have a Material Adverse Effect.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(dd)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Title
to Real and Personal Property</U>. Except as set forth in the Registration Statement or the Prospectus, the Company and its Subsidiaries
have good and marketable title in fee simple to all items of real property owned by them, good and valid title to all tangible personal
property described in the Registration Statement or Prospectus as being owned by them that are material to the businesses of the Company
or such Subsidiary, in each case free and clear of all liens, encumbrances and claims, except those matters that (i)&nbsp;do not materially
interfere with the use made and proposed to be made of such property by the Company and any of its Subsidiaries or (ii)&nbsp;would not,
individually or in the aggregate, have a Material Adverse Effect. Any real or tangible personal property described in the Registration
Statement or Prospectus as being leased by the Company and any of its Subsidiaries is held by them under valid, existing and enforceable
leases, except those that (A)&nbsp;do not materially interfere with the use made or proposed to be made of such property by the Company
or any of its Subsidiaries or (B)&nbsp;would not be reasonably expected, individually or in the aggregate, to have a Material Adverse
Effect. Each of the properties of the Company and its Subsidiaries complies with all applicable codes, laws and regulations (including,
without limitation, building and zoning codes, laws and regulations and laws relating to access to such properties), except if and to
the extent disclosed in the Registration Statement or Prospectus or except for such failures to comply that would not, individually or
in the aggregate, reasonably be expected to interfere in any material respect with the use made and proposed to be made of such property
by the Company and its Subsidiaries or otherwise have a Material Adverse Effect. None of the Company or its Subsidiaries has received
from any governmental or regulatory authorities any notice of any condemnation of, or zoning change affecting, the properties of the Company
and its Subsidiaries, and the Company knows of no such condemnation or zoning change which is threatened, except for such that would not
reasonably be expected to interfere in any material respect with the use made and proposed to be made of such property by the Company
and its Subsidiaries or otherwise have a Material Adverse Effect, individually or in the aggregate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ee)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Environmental
Laws</U>. Except as set forth in the Registration Statement or the Prospectus, the Company and its Subsidiaries (i)&nbsp;are in compliance
with any and all applicable federal, state, local and foreign laws, rules, regulations, decisions and orders relating to the protection
of human health and safety, the environment or hazardous or toxic substances or wastes, pollutants or contaminants (collectively, &ldquo;<B>Environmental
Laws</B>&rdquo;); (ii)&nbsp;have received and are in compliance with all permits, licenses or other approvals required of them under applicable
Environmental Laws to conduct their respective businesses as described in the Registration Statement and the Prospectus; and (iii)&nbsp;have
not received notice of any actual or potential liability for the investigation or remediation of any disposal or release of hazardous
or toxic substances or wastes, pollutants or contaminants, except, in the case of any of clauses (i), (ii)&nbsp;or (iii)&nbsp;above, for
any such failure to comply or failure to receive required permits, licenses, other approvals or liability as would not, individually or
in the aggregate, have a Material Adverse Effect.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ff)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Disclosure
Controls</U>. The Company and each of its Subsidiaries maintain systems of internal accounting controls sufficient to provide reasonable
assurance that (i)&nbsp;transactions are executed in accordance with management&rsquo;s general or specific authorizations; (ii)&nbsp;transactions
are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles (&ldquo;<B>GAAP</B>&rdquo;)
and to maintain asset accountability; (iii)&nbsp;access to assets is permitted only in accordance with management&rsquo;s general or specific
authorization; and (iv)&nbsp;the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate
action is taken with respect to any differences. The Company&rsquo;s internal control over financial reporting is effective and the Company
is not aware of any material weaknesses in its internal control over financial reporting (other than as set forth in the Prospectus).
Since the date of the latest audited financial statements of the Company included in the Prospectus, there has been no change in the Company&rsquo;s
internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company&rsquo;s
internal control over financial reporting (other than as set forth in the Prospectus). The Company has established disclosure controls
and procedures (as defined in Exchange Act Rules&nbsp;13a-15 and 15d-15) for the Company and designed such disclosure controls and procedures
to ensure that material information relating to the Company and each of its Subsidiaries is made known to the certifying officers by others
within those entities, particularly during the period in which the Company&rsquo;s Annual Report on Form&nbsp;10-K or Quarterly Report
on Form&nbsp;10-Q, as the case may be, is being prepared. The Company&rsquo;s certifying officers have evaluated the effectiveness of
the Company&rsquo;s disclosure controls and procedures as of a date within 90 days prior to the filing date of the Form&nbsp;10-K for
the fiscal year most recently ended (such date, the &ldquo;<B>Evaluation Date</B>&rdquo;). The Company presented in its Form&nbsp;10-K
for the fiscal year most recently ended the conclusions of the certifying officers about the effectiveness of the disclosure controls
and procedures based on their evaluations as of the Evaluation Date and the disclosure controls and procedures are effective. Since the
Evaluation Date, there have been no significant changes in the Company&rsquo;s internal controls (as such term is defined in Item 307(b)&nbsp;of
Regulation S-K under the Securities Act) or, to the Company&rsquo;s knowledge, in other factors that could significantly affect the Company&rsquo;s
internal controls.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(gg)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Sarbanes-Oxley</U>.
There is and has been no failure on the part of the Company or any of the Company&rsquo;s directors or officers, in their capacities as
such, to comply in all material respects with any applicable provisions of the Sarbanes-Oxley Act and the rules&nbsp;and regulations promulgated
thereunder. Each of the principal executive officer and the principal financial officer of the Company (or each former principal executive
officer of the Company and each former principal financial officer of the Company as applicable) has made all certifications required
by Sections 302 and 906 of the Sarbanes-Oxley Act with respect to all reports, schedules, forms, statements and other documents required
to be filed by it or furnished by it to the Commission. For purposes of the preceding sentence, &ldquo;principal executive officer&rdquo;
and &ldquo;principal financial officer&rdquo; shall have the meanings given to such terms in the Sarbanes-Oxley Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(hh)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Finder&rsquo;s
Fees</U>. Neither the Company nor any of the Subsidiaries has incurred any liability for any finder&rsquo;s fees, brokerage commissions
or similar payments in connection with the transactions herein contemplated, except as may otherwise exist with respect to Agent pursuant
to this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Labor
Disputes</U>. No labor disturbance by or dispute with employees of the Company or any of its Subsidiaries exists or, to the knowledge
of the Company, is threatened which would result in a Material Adverse Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(jj)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Investment
Company Act</U>. Neither the Company nor any of the Subsidiaries is or, after giving effect to the offering and sale of the Shares, will
be an &ldquo;investment company&rdquo; or an entity &ldquo;controlled&rdquo; by an &ldquo;investment company,&rdquo; as such terms are
defined in the Investment Company Act of 1940, as amended (the &ldquo;<B>Investment Company Act</B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(kk)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Operations</U>.
The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with applicable financial record
keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes
of all jurisdictions to which the Company or its Subsidiaries are subject, the rules&nbsp;and regulations thereunder and any related or
similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency having jurisdiction over the Company
(collectively, the &ldquo;<B>Money Laundering Laws</B>&rdquo;), except as would not result in a Material Adverse Effect; and no action,
suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of
its Subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ll)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Off-Balance
Sheet Arrangements</U>. There are no transactions, arrangements and other relationships between and/or among the Company, and/or, to the
knowledge of the Company, any of its Affiliates and any unconsolidated entity, including, but not limited to, any structural finance,
special purpose or limited purpose entity (each, an &ldquo;<B>Off-Balance Sheet Transaction</B>&rdquo;) that could reasonably be expected
to affect materially the Company&rsquo;s liquidity or the availability of or requirements for its capital resources, including those Off-Balance
Sheet Transactions described in the Commission&rsquo;s Statement about Management&rsquo;s Discussion and Analysis of Financial Conditions
and Results of Operations (Release Nos. 33-8056; 34-45321; FR-61), required to be described in the Prospectus which have not been described
as required.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(mm)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Underwriter
Agreements</U>. The Company is not a party to any agreement with an agent or underwriter for any other &ldquo;at the market&rdquo; or
continuous equity transaction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(nn)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>ERISA</U>.
To the knowledge of the Company, each material employee benefit plan, within the meaning of Section&nbsp;3(3)&nbsp;of the Employee Retirement
Income Security Act of 1974, as amended (&ldquo;<B>ERISA</B>&rdquo;), that is maintained, administered or contributed to by the Company
or any of its Affiliates for employees or former employees of the Company and any of its Subsidiaries has been maintained in material
compliance with its terms and the requirements of any applicable statutes, orders, rules&nbsp;and regulations, including but not limited
to ERISA and the Internal Revenue Code of 1986, as amended (the &ldquo;<B>Code</B>&rdquo;) (except to the extent where any non-compliance
would not result in material liability to the Company); during the last six year, no prohibited transaction, within the meaning of Section&nbsp;406
of ERISA or Section&nbsp;4975 of the Code, has occurred which would result in a material liability to the Company with respect to any
such plan excluding transactions effected pursuant to a statutory or administrative exemption; and for each such plan that is subject
to the funding rules&nbsp;of Section&nbsp;412 of the Code or Section&nbsp;302 of ERISA, no &ldquo;accumulated funding deficiency&rdquo;
as defined in Section&nbsp;412 of the Code has been incurred, whether or not waived, and the fair market value of the assets of each such
plan (excluding for these purposes accrued but unpaid contributions) exceeds the present value of all benefits accrued under such plan
determined using reasonable actuarial assumptions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(oo)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Forward-Looking
Statements</U>. No forward-looking statement (within the meaning of Section&nbsp;27A of the Securities Act and Section&nbsp;21E of the
Exchange Act) (a &ldquo;<B>Forward-Looking Statement</B>&rdquo;) contained in the Registration Statement and the Prospectus has been made
or reaffirmed without a reasonable basis or has been disclosed other than in good faith.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(pp)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Agent
Purchases</U>. The Company acknowledges and agrees that Agent has informed the Company that the Agent may, to the extent permitted under
the Securities Act and the Exchange Act, purchase and sell Common Shares for its own account while this Agreement is in effect, provided,
that (i)&nbsp;no such purchase or sales shall take place while an Issuance Notice is in effect (except to the extent the Agent may engage
in sales of Shares purchased or deemed purchased from the Company as a &ldquo;riskless principal&rdquo; or in a similar capacity) and
(ii)&nbsp;the Company shall not be deemed to have authorized or consented to any such purchases or sales by the Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(qq)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Margin
Rules</U>. Neither the issuance, sale and delivery of the Shares nor the application of the proceeds thereof by the Company as described
in the Registration Statement and the Prospectus will violate Regulation T, U or X of the Board of Governors of the Federal Reserve System
or any other regulation of such Board of Governors.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(rr)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Insurance</U>.
The Company and each of its Subsidiaries carry, or are covered by, insurance in such amounts and covering such risks as the Company and
each of its Subsidiaries reasonably believe are adequate for the conduct of their properties and as is customary for companies of similar
size, engaged in similar businesses in similar industries.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ss)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>No
Improper Practices</U>. Neither the Company nor any of the Subsidiaries nor any director or officer nor, to the knowledge of the Company,
any employee, agent, affiliate or other person acting on behalf of the Company or any of the Subsidiaries has (i)&nbsp;used any corporate
funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (ii)&nbsp;made or taken
an act in furtherance of an offer, promise or authorization of any direct or indirect unlawful payment or benefit to any foreign or domestic
government official or employee, including of any government-owned or controlled entity or of a public international organization, or
any person acting in an official capacity for or on behalf of any of the foregoing, or any political party or party official or candidate
for political office; (iii)&nbsp;violated or is in violation of any provision of the Foreign Corrupt Practices Act of 1977, as amended,
or any applicable law or regulation implementing the OECD Convention on Combating Bribery of Foreign Public Officials in International
Business Transactions, or committed an offence under the Bribery Act 2010 of the United Kingdom or any other applicable anti-bribery or
anti-corruption law; or (iv)&nbsp;made, offered, authorized, requested or taken an act in furtherance of any unlawful bribe or other unlawful
benefit, including, without limitation, any rebate, payoff, influence payment, kickback or other unlawful or improper payment or benefit.
The Company and the Subsidiaries have instituted, maintain and enforce, and will continue to maintain and enforce policies and procedures
designed to promote and ensure compliance with all applicable anti-bribery and anti-corruption laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(tt)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Ineligible
Issuer Status</U>. The Company is not an &ldquo;ineligible issuer&rdquo; in connection with the offering of the Shares pursuant to Rules&nbsp;164,
405 and 433 under the Securities Act. Any Free Writing Prospectus that the Company is required to file pursuant to Rule&nbsp;433(d)&nbsp;under
the Securities Act has been, or will be, filed with the Commission in accordance with the requirements of the Securities Act. Each Free
Writing Prospectus that the Company has filed, or is required to file, pursuant to Rule&nbsp;433(d)&nbsp;under the Securities Act or that
was prepared by or on behalf of or used or referred to by the Company in connection with the transactions contemplated hereby complies
or will comply in all material respects with the requirements of Rule&nbsp;433 under the Securities Act and timely filing with the Commission
or retention where required and legending, and no Free Writing Prospectus conflicts with or will conflict with the information contained
in the Registration Statement or the Prospectus, including any document incorporated by reference therein. Except for the Free Writing
Prospectuses, if any, and electronic road shows, if any, furnished to the Agent before first use, the Company has not prepared, used or
referred to, and will not, without the Agent&rsquo;s prior consent, prepare, use or refer to, any Free Writing Prospectus in connection
with the transactions contemplated hereby.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(uu)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>No
Misstatement or Omission in an Issuer Free Writing Prospectus</U>. Each Free Writing Prospectus, as of its issue date and as of each Applicable
Time, did not, does not and will not include any information that conflicted, conflicts or will conflict with the information contained
in the Registration Statement or the Prospectus, including any incorporated document deemed to be a part thereof that has not been superseded
or modified. The foregoing sentence does not apply to statements in or omissions from any Free Writing Prospectus based upon and in conformity
with written information furnished to the Company by the Agent specifically for use therein.</P>

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

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

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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vv)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>No
Conflicts</U>. Neither the execution of this Agreement by the Company, nor the issuance, offering or sale of the Shares, nor the consummation
by the Company of any of the transactions contemplated herein, nor the compliance by the Company with the terms and provisions hereof
will conflict with, or will result in a breach of, any of the terms and provisions of, or has constituted or will constitute a default
under, or has resulted in or will result in the creation or imposition of any lien, charge or encumbrance upon any property or assets
of the Company pursuant to the terms of any contract or other agreement to which the Company may be bound or to which any of the property
or assets of the Company is subject, except (i)&nbsp;such conflicts, breaches or defaults as may have been waived and (ii)&nbsp;such conflicts,
breaches and defaults that would not have a Material Adverse Effect; nor will such action result (x)&nbsp;in any violation of the provisions
of the organizational or governing documents of the Company, or (y)&nbsp;in any material violation of the provisions of any statute or
any order, rule&nbsp;or regulation applicable to the Company or of any court or of any federal, state or other regulatory authority or
other government body having jurisdiction over the Company, other than in the case of (y)&nbsp;any violation that would not reasonably
be expected to have a Material Adverse Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ww)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>FINRA
Matters</U>. To the extent applicable, all of the information provided to the Agent or to counsel for the Agent by the Company in connection
with letters, filings or other supplemental information provided to FINRA pursuant to FINRA Rules&nbsp;is true, complete and correct in
all material respects.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(xx)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Sanctions</U>.
Neither the Company nor any of its Subsidiaries, directors, or officers, nor, to the knowledge of the Company, after due inquiry, any
employees, agents, affiliates or other person acting on behalf of the Company or any of its Subsidiaries is currently the subject or the
target of any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department
of State, the United Nations Security Council, the European Union, Her Majesty&rsquo;s Treasury of the United Kingdom, or other relevant
sanctions authority (collectively, &ldquo;<B>Sanctions</B>&rdquo;); nor is the Company or any of its Subsidiaries located, organized or
resident in a country or territory that is the subject or the target of Sanctions, including, without limitation, the Crimea Region of
Ukraine, the so-called Donetsk People&rsquo;s Republic, the so-called Luhansk People&rsquo;s Republic, Cuba,&nbsp;Iran, North Korea, and
Syria (collectively, the &ldquo;<B>Sanctioned Countries</B>&rdquo;); and the Company will not directly or indirectly use the proceeds
of this offering, or lend, contribute or otherwise make available such proceeds to any Subsidiary, or any joint venture partner or other
person or entity, for the purpose of financing the activities of or business with any person, or in any country or territory, that at
the time of such financing, is the subject or the target of Sanctions or in any other manner that will result in a violation by any person
(including any person participating in the transaction whether as underwriter, advisor, investor or otherwise) of applicable Sanctions.
For the past five years, the Company and its Subsidiaries have not knowingly engaged in and are not now knowingly engaged in any dealings
or transactions with any person that at the time of the dealing or transaction is or was the subject or the target of Sanctions or with
any Sanctioned Country.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(yy)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Stock
Transfer Taxes</U>. On each Settlement Date, all stock transfer or other taxes (other than income taxes) which are required to be paid
in connection with the sale and transfer of the Shares to be sold hereunder will be, or will have been, fully paid or provided for by
the Company and all laws imposing such taxes will be or will have been fully complied with.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(zz)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Compliance
with Laws</U>. The Company and each of its Subsidiaries are in compliance with all applicable laws, regulations and statutes (including
all environmental laws and regulations) in the jurisdictions in which it carries on business; the Company has not received a notice of
non-compliance, nor knows of, nor has reasonable grounds to know of, any facts that could give rise to a notice of non-compliance with
any such laws, regulations and statutes, and is not aware of any pending change or contemplated change to any applicable law or regulation
or governmental position; in each case that would materially adversely affect the business of the Company or the business or legal environment
under which the Company operates. Each of the Company and its Subsidiaries: (A)&nbsp;is and at all times has been in compliance in all
material respects with all statutes, rules, or regulations applicable to the ownership, testing, development, manufacture, packaging,
processing, use, distribution, marketing, labeling, promotion, sale, offer for sale, storage, import, export or disposal of any product
manufactured or distributed by the Company or its Subsidiaries (&ldquo;<B>Applicable Laws</B>&rdquo;), except as could not, individually
or in the aggregate, reasonably be expected to result in a Material Adverse Effect; (B)&nbsp;has not received any FDA Form&nbsp;483, notice
of adverse finding, warning letter, untitled letter or other correspondence or notice from the FDA or any other governmental authority
alleging or asserting noncompliance with any Applicable Laws or any licenses, certificates, approvals, clearances, authorizations, permits
and supplements or amendments thereto required by any such Applicable Laws (&ldquo;<B>Authorizations</B>&rdquo;); (C)&nbsp;possesses all
material Authorizations and such Authorizations are valid and in full force and effect and are not in material violation of any term of
any such Authorizations; (D)&nbsp;has not received notice of any claim, action, suit, proceeding, hearing, enforcement, investigation,
arbitration or other action from any governmental authority or third party alleging that any product operation or activity is in violation
of any Applicable Laws or Authorizations and has no knowledge that any such governmental authority or third party is considering any such
claim, litigation, arbitration, action, suit, investigation or proceeding; (E)&nbsp;has not received notice that any governmental authority
has taken, is taking or intends to take action to limit, suspend, modify or revoke any Authorizations and has no knowledge that any such
governmental authority is considering such action; (F)&nbsp;has filed, obtained, maintained or submitted all material reports, documents,
forms, notices, applications, records, claims, submissions and supplements or amendments as required by any Applicable Laws or Authorizations
and that all such reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments were complete
and correct on the date filed (or were corrected or supplemented by a subsequent submission); and (G)&nbsp;has not, either voluntarily
or involuntarily, initiated, conducted, or issued or caused to be initiated, conducted or issued, any recall, market withdrawal or replacement,
safety alert, post sale warning, &ldquo;dear healthcare provider&rdquo; letter, or other notice or action relating to the alleged lack
of safety or efficacy of any product or any alleged product defect or violation and, to the Company&rsquo;s knowledge, no third party
has initiated, conducted or intends to initiate any such notice or action.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(aaa)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Statistical
and Market-Related Data</U>.&nbsp; The statistical, demographic and market-related data included in the Registration Statement and Prospectus
are based on or derived from sources that the Company believes to be reliable and accurate or represent the Company&rsquo;s good faith
estimates that are made on the basis of data derived from such sources.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(bbb)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Emerging
Growth Company Status</U>. From the time of the initial filing of the Company&rsquo;s first registration statement with the Commission
through the date hereof, the Company has been and is an &ldquo;emerging growth company,&rdquo; as defined in Section&nbsp;2(a)&nbsp;of
the Securities Act (an &ldquo;<B>Emerging Growth Company</B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ccc)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Cybersecurity</U>.
The Company and its Subsidiaries&rsquo; information technology assets and equipment, computers, systems, networks, hardware, software,
websites, applications, and databases (collectively, &ldquo;<B>IT Systems</B>&rdquo;) are adequate for, and operate and perform in all
material respects as required in connection with the operation of the business of the Company and its Subsidiaries as currently conducted,
free and clear of all material bugs, errors, defects, Trojan horses, time bombs, malware and other corruptants. The Company and its Subsidiaries
have implemented and maintained commercially reasonable physical, technical and administrative controls, policies, procedures, and safeguards
to maintain and protect their material confidential information and the integrity, continuous operation, redundancy and security of all
IT Systems and data, including &ldquo;Personal Data,&rdquo; used in connection with their businesses. &ldquo;<B>Personal Data</B>&rdquo;
means (i)&nbsp;a natural person&rsquo;s name, street address, telephone number, e-mail address, photograph, social security number or
tax identification number, driver&rsquo;s license number, passport number, credit card number, bank information, or customer or account
number; (ii)&nbsp;any information which would qualify as &ldquo;personally identifying information&rdquo; under the Federal Trade Commission
Act, as amended; (iii)&nbsp;&ldquo;personal data&rdquo; as defined by GDPR (as defined below); (iv)&nbsp;any information which would qualify
as &ldquo;protected health information&rdquo; under the Health Insurance Portability and Accountability Act of 1996, as amended by the
Health Information Technology for Economic and Clinical Health Act (collectively, &ldquo;<B>HIPAA&rdquo;</B>); and (v)&nbsp;any other
piece of information that allows the identification of such natural person, or his or her family, or permits the collection or analysis
of any data related to an identified person&rsquo;s health or sexual orientation. There have been no breaches, violations, outages or
unauthorized uses of or accesses to same, except for those that have been remedied without material cost or liability or the duty to notify
any other person, nor any incidents under internal review or investigations relating to the same. The Company and its Subsidiaries are
presently in material compliance with all applicable laws or statutes and all judgments, orders, rules&nbsp;and regulations of any court
or arbitrator or governmental or regulatory authority, internal policies and contractual obligations relating to the privacy and security
of IT Systems and Personal Data and to the protection of such IT Systems and Personal Data from unauthorized use, access, misappropriation
or modification.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ddd)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Compliance
with Data Privacy Laws</U>. The Company and its Subsidiaries are, and at all prior times were, in material compliance with all applicable
state and federal data privacy and security laws and regulations, including without limitation HIPAA, and the Company and its Subsidiaries
have taken commercially reasonable actions to prepare to comply with, and since May&nbsp;25, 2018, have been and currently are in compliance
with, the European Union General Data Protection Regulation (&ldquo;<B>GDPR</B>&rdquo;) (EU 2016/679) (collectively, the &ldquo;<B>Privacy
Laws</B>&rdquo;). To ensure compliance with the Privacy Laws, the Company and its Subsidiaries have in place, comply with, and take appropriate
steps reasonably designed to ensure compliance in all material respects with their policies and procedures relating to data privacy and
security and the collection, storage, use, disclosure, handling, and analysis of Personal Data (the &ldquo;<B>Policies</B>&rdquo;). The
Company and its Subsidiaries have at all times made all disclosures to users or customers required by applicable laws and regulatory rules&nbsp;or
requirements, and none of such disclosures made or contained in any Policy have, to the knowledge of the Company, been inaccurate or in
violation of any applicable laws and regulatory rules&nbsp;or requirements in any material respect. The Company further certifies that
neither it nor any Subsidiary: (i)&nbsp;has received notice of any actual or potential liability under or relating to, or actual or potential
violation of, any of the Privacy Laws, and has no knowledge of any event or condition that would reasonably be expected to result in any
such notice; (ii)&nbsp;is currently conducting or paying for, in whole or in part, any investigation, remediation, or other corrective
action pursuant to any Privacy Law; or (iii)&nbsp;is a party to any order, decree, or agreement that imposes any obligation or liability
under any Privacy Law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any certificate signed by
the Chief Executive Officer or Chief Financial Officer of the Company or any of its Subsidiaries and delivered to the Agent or counsel
for the Agent in connection with an issuance of Shares shall be deemed a representation and warranty by the Company to the Agent as to
the matters covered thereby on the date of such certificate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company acknowledges that
the Agent and, for purposes of the opinions to be delivered pursuant to <U>&lrm;Section&nbsp;4(o)</U>&nbsp;hereof, counsel to the Company
and counsel to the Agent, will rely upon the accuracy and truthfulness of the foregoing representations and hereby consents to such reliance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;3. ISSUANCE AND SALE OF COMMON SHARES</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Sale
of Securities</U>. On the basis of the representations, warranties and agreements herein contained, but subject to the terms and conditions
herein set forth, the Company and the Agent agree that the Company may from time to time seek to sell Shares through the Agent, acting
as sales agent, or directly to the Agent, acting as principal, as follows, with an aggregate Sales Price of up to the Maximum Program
Amount, based on and in accordance with Issuance Notices as the Company may deliver, during the Agency Period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Mechanics
of Issuances</U>.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)&nbsp; <U>Issuance Notice</U>.
Upon the terms and subject to the conditions set forth herein, on any Trading Day during the Agency Period on which the conditions set
forth in <U>&lrm;Section&nbsp;5(a)</U>&nbsp;and <U>&lrm;Section&nbsp;5(b)</U>&nbsp;shall have been satisfied, the Company may exercise
its right to request an issuance of Shares by delivering to the Agent an Issuance Notice; <I>provided, however</I>, that (A)&nbsp;in no
event may the Company deliver an Issuance Notice to the extent that (I)&nbsp;the sum of (x)&nbsp;the aggregate Sales Price of the requested
Issuance Amount, plus (y)&nbsp;the aggregate Sales Price of all Shares issued under all previous Issuance Notices effected pursuant to
this Agreement, would exceed the Maximum Program Amount; and (B)&nbsp;prior to delivery of any Issuance Notice, the period set forth for
any previous Issuance Notice shall have expired or been terminated. An Issuance Notice shall be considered delivered on the Trading Day
that it is received by e-mail to the persons set forth in Schedule A hereto and confirmed by the Company by telephone (including a voicemail
message to the persons so identified), with the understanding that, with adequate prior written notice, the Agent may modify the list
of such persons from time to time.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Agent
Efforts</U>. Upon the terms and subject to the conditions set forth in this Agreement, upon the receipt of an Issuance Notice, the Agent
will use its commercially reasonable efforts consistent with its normal sales and trading practices to place the Shares with respect to
which the Agent has agreed to act as sales agent, subject to, and in accordance with the information specified in, the Issuance Notice,
unless the sale of the Shares described therein has been suspended, cancelled or otherwise terminated in accordance with the terms of
this Agreement. For the avoidance of doubt, the parties to this Agreement may modify an Issuance Notice at any time provided they both
agree in writing to any such modification.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Method
of Offer and Sale</U>. The Shares may be offered and sold (A)&nbsp;in privately negotiated transactions with the consent of the Company;
(B)&nbsp;as block transactions; or (C)&nbsp;by any other method permitted by law deemed to be an &ldquo;at the market offering&rdquo;
as defined in Rule&nbsp;415(a)(4)&nbsp;under the Securities Act, including sales made directly on the Principal Market or sales made into
any other existing trading market of the Common Shares. Nothing in this Agreement shall be deemed to require either party to agree to
the method of offer and sale specified in the preceding sentence, and (except as specified in clauses (A)&nbsp;and (B)&nbsp;above) the
method of placement of any Shares by the Agent shall be at the Agent&rsquo;s discretion.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iv)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Confirmation
to the Company</U>. If acting as sales agent hereunder, the Agent will provide written confirmation to the Company no later than the opening
of the Trading Day next following the Trading Day on which it has placed Shares hereunder setting forth the number of shares sold on such
Trading Day, the corresponding Sales Price and the Issuance Price payable to the Company in respect thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(v)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Settlement</U>.
Each issuance of Shares will be settled on the applicable Settlement Date for such issuance of Shares and, subject to the provisions of
<U>&lrm;Section&nbsp;5</U>, on or before each Settlement Date, the Company will, or will cause its transfer agent to, electronically transfer
the Shares being sold by crediting the Agent or its designee&rsquo;s account at The Depository Trust Company through its Deposit/Withdrawal
At Custodian (DWAC) System, or by such other means of delivery as may be mutually agreed upon by the parties hereto and, upon receipt
of such Shares, which in all cases shall be freely tradable, transferable, registered shares in good deliverable form, the Agent will
deliver, by wire transfer of immediately available funds, the related Issuance Price in same day funds delivered to an account designated
by the Company prior to the Settlement Date. The Company may sell Shares to the Agent as principal at a price agreed upon at each relevant
time Shares are sold pursuant to this Agreement (each, a &ldquo;<B>Time of Sale</B>&rdquo;).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(vi)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Suspension
or Termination of Sales</U>. Consistent with standard market settlement practices, the Company or the Agent may, upon notice to the other
party hereto in writing or by telephone (confirmed immediately by verifiable email), suspend any sale of Shares, and the period set forth
in an Issuance Notice shall immediately terminate; <I>provided, however</I>, that (A)&nbsp;such suspension and termination shall not affect
or impair either party&rsquo;s obligations with respect to any Shares placed or sold hereunder prior to the receipt of such notice; (B)&nbsp;if
the Company suspends or terminates any sale of Shares after the Agent confirms such sale to the Company, the Company shall still be obligated
to comply with <U>&lrm;Section&nbsp;3(b)(v)</U>&nbsp;with respect to such Shares; and (C)&nbsp;if the Company defaults in its obligation
to deliver Shares on a Settlement Date, the Company agrees that it will hold the Agent harmless against any loss, claim, damage or expense
(including, without limitation, penalties, interest and reasonable legal fees and expenses), as incurred, arising out of or in connection
with such default by the Company. The parties hereto acknowledge and agree that, in performing its obligations under this Agreement, the
Agent may borrow Common Shares from stock lenders in the event that the Company has not delivered Shares to settle sales as required by
subsection (v)&nbsp;above, and may use the Shares to settle or close out such borrowings. The Company agrees that no such notice shall
be effective against the Agent unless it is made to the persons identified in writing by the Agent pursuant to <U>&lrm;Section&nbsp;3(b)(i)</U>.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(vii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>No
Guarantee of Placement, Etc.</U> The Company acknowledges and agrees that (A)&nbsp;there can be no assurance that the Agent will be successful
in placing Shares; (B)&nbsp;the Agent will incur no liability or obligation to the Company or any other Person if it does not sell Shares;
and (C)&nbsp;the Agent shall be under no obligation to purchase Shares on a principal basis pursuant to this Agreement, except as otherwise
specifically agreed by the Agent and the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(viii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Material
Non-Public Information.</U> Notwithstanding any other provision of this Agreement, the Company and the Agent agree that the Company shall
not deliver any Issuance Notice to the Agent, and the Agent shall not be obligated to place any Shares, during any period in which the
Company is in possession of material non-public information.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Fees</U>.
As compensation for services rendered, the Company shall pay to the Agent, on the applicable Settlement Date, the Selling Commission for
the applicable Issuance Amount (including with respect to any suspended or terminated sale pursuant to <U>Section&nbsp;3(b)(vi)</U>) by
the Agent deducting the Selling Commission from the applicable Issuance Amount. For the avoidance of doubt, the Company shall not be required
to pay the Agent any Selling Commission with respect to any Issuance Notice, except to the extent Shares are placed pursuant thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Expenses</U>.
The Company agrees to pay all costs, fees and expenses incurred in connection with the performance of its obligations hereunder and in
connection with the transactions contemplated hereby, including without limitation (i)&nbsp;all expenses incident to the issuance and
delivery of the Shares (including all printing and engraving costs); (ii)&nbsp;all fees and expenses of the registrar and transfer agent
of the Shares; (iii)&nbsp;all necessary issue, transfer and other stamp taxes in connection with the issuance and sale of the Shares;
(iv)&nbsp;all fees and expenses of the Company&rsquo;s counsel, independent public or certified public accountants and other advisors;
(v)&nbsp;all costs and expenses incurred in connection with the preparation, printing, filing, shipping and distribution of the Registration
Statement (including financial statements, exhibits, schedules, consents and certificates of experts), the Prospectus, any Free Writing
Prospectus prepared by or on behalf of, used by, or referred to by the Company, and all amendments and supplements thereto, and this Agreement;
(vi)&nbsp;all filing fees, attorneys&rsquo; fees and expenses incurred by the Company or the Agent in connection with qualifying or registering
(or obtaining exemptions from the qualification or registration of) all or any part of the Shares for offer and sale under the state securities
or blue sky laws or the provincial securities laws of Canada, and, if requested by the Agent, preparing and printing a &ldquo;<B>Blue
Sky Survey</B>&rdquo; or memorandum and a &ldquo;Canadian wrapper&rdquo;, and any supplements thereto, advising the Agent of such qualifications,
registrations, determinations and exemptions; (vii)&nbsp;the reasonable fees and disbursements of the Agent&rsquo;s counsel, including&nbsp;the
reasonable fees and expenses of counsel for the Agent in connection with, FINRA review, if any, and approval of the Agent&rsquo;s participation
in the offering and distribution of the Shares; (viii)&nbsp;the filing fees incident to FINRA review, if any; (ix)&nbsp;all fees, expenses
and disbursements relating to background checks of the Company&rsquo;s directors, director nominees and executive officers; and (x)&nbsp;the
fees and expenses associated with listing the Shares on the Principal Market. The fees and disbursements of Agent&rsquo;s counsel pursuant
to subsections (vi)&nbsp;and (vii)&nbsp;above shall not exceed (A)&nbsp;$75,000 in connection with entry into this Agreement and (B)&nbsp;$15,000
in connection with each Triggering Event Date on which the Company is required to provide a certificate pursuant to <U>Section&nbsp;4(o</U>).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;4. ADDITIONAL COVENANTS</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company covenants and
agrees with the Agent as follows, in addition to any other covenants and agreements made elsewhere in this Agreement:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Exchange
Act Compliance</U>. During the Agency Period, the Company shall (i)&nbsp;file, on a timely basis, with the Commission all reports and
documents required to be filed under Section&nbsp;13, 14 or 15 of the Exchange Act in the manner and within the time periods required
by the Exchange Act; and (ii)&nbsp;either (A)&nbsp;include in its quarterly reports on Form&nbsp;10-Q and its annual reports on Form&nbsp;10-K,
a summary detailing, for the relevant reporting period, (1)&nbsp;the number of Shares sold through the Agent pursuant to this Agreement
and (2)&nbsp;the net proceeds received by the Company from such sales or (B)&nbsp;prepare a prospectus supplement containing, or include
in such other filing permitted by the Securities Act or Exchange Act (each an &ldquo;<B>Interim Prospectus Supplement</B>&rdquo;), such
summary information and, at least once a quarter and subject to this <U>Section&nbsp;4</U>, file such Interim Prospectus Supplement pursuant
to Rule&nbsp;424(b)&nbsp;under the Securities Act (and within the time periods required by Rule&nbsp;424(b)&nbsp;and Rule&nbsp;430B under
the Securities Act).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Securities
Act Compliance</U>. After the date of this Agreement, the Company shall promptly advise the Agent in writing (i)&nbsp;of the receipt of
any comments of, or requests for additional or supplemental information from, the Commission relating to the Registration Statement or
the Prospectus; (ii)&nbsp;of the time and date of any filing of any post-effective amendment to the Registration Statement, any Rule&nbsp;462(b)&nbsp;Registration
Statement or any amendment or supplement to the Prospectus, or any Free Writing Prospectus; (iii)&nbsp;of the time and date that any post-effective
amendment to the Registration Statement or any Rule&nbsp;462(b)&nbsp;Registration Statement becomes effective; and (iv)&nbsp;of the issuance
by the Commission of any stop order suspending the effectiveness of the Registration Statement or any post-effective amendment thereto,
any Rule&nbsp;462(b)&nbsp;Registration Statement or any amendment or supplement to the Prospectus or of any order preventing or suspending
the use of any Free Writing Prospectus or the Prospectus, or of any proceedings to remove, suspend or terminate from listing or quotation
the Common Shares from any securities exchange upon which they are listed for trading or included or designated for quotation, or of the
threatening or initiation of any proceedings for any of such purposes. If the Commission shall enter any such stop order at any time,
the Company will use its best efforts to obtain the lifting of such order as soon as reasonably practicable. Additionally, the Company
agrees that it shall comply with the provisions of Rule&nbsp;424(b)&nbsp;and Rule&nbsp;433, as applicable, under the Securities Act and
will use its reasonable efforts to confirm that any filings made by the Company under such Rule&nbsp;424(b)&nbsp;or Rule&nbsp;433 were
received in a timely manner by the Commission.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Amendments
and Supplements to the Prospectus and Other Securities Act Matters</U>. If any event shall occur or condition exist as a result of which
it is necessary to amend or supplement the Prospectus so that the Prospectus does not include an untrue statement of a material fact or
omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances when the Prospectus
is delivered to a purchaser, not misleading, or if in the opinion of the Agent or counsel for the Agent it is otherwise necessary to amend
or supplement the Prospectus to comply with applicable law, including the Securities Act, the Company agrees (subject to <U>Section&nbsp;4(d)</U>&nbsp;and
<U>4(f)</U>) to promptly prepare, file with the Commission and furnish at its own expense to the Agent, amendments or supplements to the
Prospectus so that the statements in the Prospectus as so amended or supplemented will not include an untrue statement of a material fact
or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances when the Prospectus
is delivered to a purchaser, not be misleading or so that the Prospectus, as amended or supplemented, will comply with applicable law
including the Securities Act. Neither the Agent&rsquo;s consent to, or delivery of, any such amendment or supplement shall constitute
a waiver of any of the Company&rsquo;s obligations under <U>Sections 4(d)</U>&nbsp;and <U>4(f)</U>.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Agent&rsquo;s
Review of Proposed Amendments and Supplements</U>. Prior to amending or supplementing the Registration Statement (including any registration
statement filed under Rule&nbsp;462(b)&nbsp;under the Securities Act) or the Prospectus (excluding any amendment or supplement through
incorporation of any report filed under the Exchange Act), the Company shall furnish to the Agent for review, a reasonable amount of time
prior to the proposed time of filing or use thereof, a copy of each such proposed amendment or supplement, and the Company shall not file
or use any such proposed amendment or supplement without the Agent&rsquo;s prior consent, which shall not be unreasonably withheld, conditioned
or delayed. The Company shall file with the Commission within the applicable period specified in Rule&nbsp;424(b)&nbsp;under the Securities
Act any prospectus required to be filed pursuant to such Rule.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Use
of Free Writing Prospectus</U>. Neither the Company nor the Agent has prepared, used, referred to or distributed, or will prepare, use,
refer to or distribute, without the other party&rsquo;s prior written consent, any &ldquo;written communication&rdquo; that constitutes
a &ldquo;free writing prospectus&rdquo; as such terms are defined in Rule&nbsp;405 under the Securities Act with respect to the offering
contemplated by this Agreement (any such free writing prospectus being referred to herein as a &ldquo;<B>Free Writing Prospectus</B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Free
Writing Prospectuses</U>. The Company shall furnish to the Agent for review, a reasonable amount of time prior to the proposed time of
filing or use thereof, a copy of each proposed free writing prospectus or any amendment or supplement thereto to be prepared by or on
behalf of, used by, or referred to by the Company and the Company shall not file, use or refer to any proposed free writing prospectus
or any amendment or supplement thereto without the Agent&rsquo;s consent, which shall not be unreasonably withheld, conditioned or delayed.
The Company shall furnish to the Agent, without charge, as many copies of any free writing prospectus prepared by or on behalf of, or
used by the Company, as the Agent may reasonably request. If at any time when a prospectus is required by the Securities Act (including,
without limitation, pursuant to Rule&nbsp;173(d)) to be delivered in connection with sales of the Shares (but in any event if at any time
through and including the date of this Agreement) there occurred or occurs an event or development as a result of which any free writing
prospectus prepared by or on behalf of, used by, or referred to by the Company conflicted or would conflict with the information contained
in the Registration Statement or included or would include an untrue statement of a material fact or omitted or would omit to state a
material fact necessary in order to make the statements therein, in the light of the circumstances prevailing at that subsequent time,
not misleading, the Company shall promptly amend or supplement such free writing prospectus to eliminate or correct such conflict or so
that the statements in such free writing prospectus as so amended or supplemented will not include an untrue statement of a material fact
or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances prevailing at such
subsequent time, not misleading, as the case may be; <I>provided, however</I>, that prior to amending or supplementing any such free writing
prospectus, the Company shall furnish to the Agent for review, a reasonable amount of time prior to the proposed time of filing or use
thereof, a copy of such proposed amended or supplemented free writing prospectus and the Company shall not file, use or refer to any such
amended or supplemented free writing prospectus without the Agent&rsquo;s consent, which shall not be unreasonably withheld, conditioned
or delayed.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Filing
of Agent Free Writing Prospectuses</U>. The Company shall not take any action that would result in the Agent or the Company being required
to file with the Commission pursuant to Rule&nbsp;433(d)&nbsp;under the Securities Act a free writing prospectus prepared by or on behalf
of the Agent that the Agent otherwise would not have been required to file thereunder.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Copies
of Registration Statement and Prospectus</U>. After the date of this Agreement through the last time that a prospectus is required by
the Securities Act (including, without limitation, pursuant to Rule&nbsp;173(d)) to be delivered in connection with sales of the Shares,
the Company agrees to furnish the Agent with copies (which may be electronic copies) of the Registration Statement and each amendment
thereto, and with copies of the Prospectus and each amendment or supplement thereto in the form in which it is filed with the Commission
pursuant to the Securities Act or Rule&nbsp;424(b)&nbsp;under the Securities Act, both in such quantities as the Agent may reasonably
request from time to time; and, if the delivery of a prospectus is required under the Securities Act or under the blue sky or securities
laws of any jurisdiction at any time on or prior to the applicable Settlement Date for any period set forth in an Issuance Notice in connection
with the offering or sale of the Shares and if at such time any event has occurred as a result of which the Prospectus as then amended
or supplemented would include an untrue statement of a material fact or omit to state any material fact necessary in order to make the
statements therein, in the light of the circumstances under which they were made when such Prospectus is delivered, not misleading, or,
if for any other reason it is necessary during such same period to amend or supplement the Prospectus or to file under the Exchange Act
any document incorporated by reference in the Prospectus in order to comply with the Securities Act or the Exchange Act, to notify the
Agent and to request that the Agent suspend offers to sell Shares (and, if so notified, the Agent shall cease such offers as soon as practicable);
and if the Company decides to amend or supplement the Registration Statement or the Prospectus as then amended or supplemented, to advise
the Agent promptly by telephone (with confirmation in writing) and to prepare and cause to be filed promptly with the Commission an amendment
or supplement to the Registration Statement or the Prospectus as then amended or supplemented that will correct such statement or omission
or effect such compliance; provided, however, that if during such same period the Agent is required to deliver a prospectus in respect
of transactions in the Shares, the Company shall promptly prepare and file with the Commission such an amendment or supplement.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Blue
Sky Compliance</U>. The Company shall cooperate with the Agent and counsel for the Agent to qualify or register the Shares for sale under
(or obtain exemptions from the application of) the state securities or blue sky laws or Canadian provincial securities laws of those jurisdictions
designated by the Agent, shall comply with such laws and shall continue such qualifications, registrations and exemptions in effect so
long as required for the distribution of the Shares. The Company shall not be required to qualify as a foreign corporation or to take
any action that would subject it to general service of process in any such jurisdiction where it is not presently qualified or where it
would be subject to taxation as a foreign corporation. The Company will advise the Agent promptly of the suspension of the qualification
or registration of (or any such exemption relating to) the Shares for offering, sale or trading in any jurisdiction or any initiation
or threat of any proceeding for any such purpose, and in the event of the issuance of any order suspending such qualification, registration
or exemption, the Company shall use its best efforts to obtain the withdrawal thereof as soon as reasonably practicable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(j)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Earnings
Statement</U>. As soon as reasonably practicable, the Company will make generally available to its security holders and to the Agent an
earnings statement (which need not be audited) covering a period of at least twelve months beginning with the first fiscal quarter of
the Company occurring after the date of this Agreement which shall satisfy the provisions of Section&nbsp;11(a)&nbsp;of the Securities
Act and Rule&nbsp;158 under the Securities Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(k)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Listing;
Reservation of Shares</U>. (a)&nbsp; The Company will maintain the listing of the Shares on the Principal Market; and (b)&nbsp;the Company
will reserve and keep available at all times, free of preemptive rights, Shares for the purpose of enabling the Company to satisfy its
obligations under this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(l)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Transfer
Agent</U>. The Company shall engage and maintain, at its expense, a registrar and transfer agent for the Shares.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(m)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Due
Diligence</U>. During the term of this Agreement, the Company will reasonably cooperate with any reasonable due diligence review conducted
by the Agent in connection with the transactions contemplated hereby, including, without limitation, providing information and making
available documents and senior corporate officers, during normal business hours and at the Company&rsquo;s principal offices, as the Agent
may reasonably request from time to time.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(n)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Representations
and Warranties</U>. The Company acknowledges that each delivery of an Issuance Notice and each delivery of Shares on a Settlement Date
shall be deemed to be (i)&nbsp;an affirmation to the Agent that the representations and warranties of the Company contained in or made
pursuant to this Agreement are true and correct as of the date of such Issuance Notice or of such Settlement Date, as the case may be,
as though made at and as of each such date, except as may be disclosed in the Prospectus (including any documents incorporated by reference
therein and any supplements thereto); and (ii)&nbsp;an undertaking that the Company will advise the Agent if any of such representations
and warranties will not be true and correct as of the Settlement Date for the Shares relating to such Issuance Notice, as though made
at and as of each such date (except that such representations and warranties shall be deemed to relate to the Registration Statement and
the Prospectus as amended and supplemented relating to such Shares).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(o)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Deliverables
at Triggering Event Dates; Certificates.</U> The Company agrees that on or prior to the date of the first Issuance Notice and, during
the term of this Agreement after the date of the first Issuance Notice, upon:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(A)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
filing of the Prospectus or the amendment or supplement of any Registration Statement or Prospectus (other than a prospectus supplement
relating solely to an offering of securities other than the Shares or a prospectus filed pursuant to <U>Section&nbsp;4(a)(ii)(B)</U>),
by means of a post-effective amendment, sticker or supplement, but not by means of incorporation of documents by reference into the Registration
Statement or Prospectus;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(B)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
filing with the Commission of an annual report on Form&nbsp;10-K or a quarterly report on Form&nbsp;10-Q (including any Form&nbsp;10-K/A
or Form&nbsp;10-Q/A containing amended financial information or a material amendment to the previously filed annual report on Form&nbsp;10-K
or quarterly report on Form&nbsp;10-Q), in each case, of the Company; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(C)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
filing with the Commission of a current report on Form&nbsp;8-K of the Company containing amended financial information (other than information
 &ldquo;furnished&rdquo; pursuant to Item 2.02 or 7.01 of Form&nbsp;8-K or to provide disclosure pursuant to Item 8.01 of Form&nbsp;8-K
relating to reclassification of certain properties as discontinued operations in accordance with Statement of Financial Accounting Standards
No.&nbsp;144) that is material to the offering of securities of the Company in the Agent&rsquo;s reasonable discretion;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(any such event, a &ldquo;<B>Triggering Event
Date</B>&rdquo;), the Company shall furnish the Agent (but in the case of clause (C)&nbsp;above only if the Agent reasonably determines
that the information contained in such current report on Form&nbsp;8-K of the Company is material) with a certificate as of the Triggering
Event Date, in the form and substance satisfactory to the Agent and its counsel, substantially similar to the form previously provided
to the Agent and its counsel, modified, as necessary, to relate to the Registration Statement and the Prospectus as amended or supplemented,
(A)&nbsp;confirming that the representations and warranties of the Company contained in this Agreement are true and correct, (B)&nbsp;that
the Company has performed all of its obligations hereunder to be performed on or prior to the date of such certificate and as to the matters
set forth in <U>&lrm;Section&nbsp;5(a)(iii)</U>&nbsp;hereof, and (C)&nbsp;containing any other certification that the Agent shall reasonably
request. The requirement to provide a certificate under this <U>Section&nbsp;4(o)</U>&nbsp;shall be waived for any Triggering Event Date
occurring at a time when no Issuance Notice is pending or a suspension is in effect, which waiver shall continue until the earlier to
occur of the date the Company delivers instructions for the sale of Shares hereunder (which for such calendar quarter shall be considered
a Triggering Event Date) and the next occurring Triggering Event Date. Notwithstanding the foregoing, if the Company subsequently decides
to sell Shares following a Triggering Event Date when a suspension was in effect and did not provide the Agent with a certificate under
this <U>Section&nbsp;4(o)</U>, then before the Company delivers the instructions for the sale of Shares or the Agent sells any Shares
pursuant to such instructions, the Company shall provide the Agent with a certificate in conformity with this <U>Section&nbsp;4(o)</U>&nbsp;dated
as of the date that the instructions for the sale of Shares are issued.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(p)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Legal
Opinions.</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Opinion
of Counsel for Company.</U> On or prior to the date of the first Issuance Notice and on each Triggering Event Date set forth in <U>Section&nbsp;4(o)(B)</U>&nbsp;with
respect to which the Company is obligated to deliver a certificate pursuant to <U>Section&nbsp;4(o)</U>&nbsp;for which no waiver is applicable
and excluding the date of this Agreement, a negative assurances letter and the written legal opinion of Gibson, Dunn&nbsp;&amp; Crutcher
LLP, counsel to the Company, each dated the date of delivery, each in form and substance reasonably satisfactory to Agent and its counsel,
substantially similar to the form previously provided to the Agent and its counsel, modified, as necessary, to relate to the Registration
Statement and the Prospectus as then amended or supplemented; provided, however, the Company shall be required to furnish no more than
one opinion hereunder per calendar year and no more than one negative assurances letter hereunder per Annual Report on Form&nbsp;10-K
or Quarterly Report on Form&nbsp;10-Q filed by the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Opinion
of Counsel for Agent</U>. On or prior to the date of the first Issuance Notice and on each Triggering Event Date with respect to which
the Company is obligated to deliver a certificate pursuant to <U>Section&nbsp;4(o)</U>&nbsp;for which no waiver is applicable and excluding
the date of this Agreement, a negative assurances letter of Latham&nbsp;&amp; Watkins LLP, counsel to the Agent, dated the date of delivery,
in form and substance reasonably satisfactory to Agent, substantially similar to the form previously provided to the Agent, modified,
as necessary, to relate to the Registration Statement and the Prospectus as then amended or supplemented; <I>provided</I>, <I>however</I>,
the Agent&rsquo;s counsel shall be required to furnish no more than one negative assurances letter hereunder per calendar quarter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(q)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Comfort
Letter</U>. On or prior to the date of the first Issuance Notice and on each Triggering Event Date with respect to which the Company is
obligated to deliver a certificate pursuant to <U>Section&nbsp;4(o)</U>&nbsp;for which no waiver is applicable and excluding the date
of this Agreement, the Company shall cause Ernst&nbsp;&amp; Young LLP, the independent registered public accounting firm who has audited
the financial statements included or incorporated by reference in the Registration Statement, to furnish the Agent a comfort letter, dated
the date of delivery, in form and substance reasonably satisfactory to the Agent and its counsel, substantially similar to the form previously
provided to the Agent and its counsel; provided, however, that any such comfort letter will only be required on the Triggering Event Date
specified to the extent that it contains financial statements filed with the Commission under the Exchange Act and incorporated or deemed
to be incorporated by reference into a Prospectus. If requested by the Agent, the Company shall also cause a comfort letter to be furnished
to the Agent on or prior to the date of occurrence of any material transaction or event requiring the filing of a current report on Form&nbsp;8-K
containing material amended financial information of the Company, including the restatement of the Company&rsquo;s financial statements.
The Company shall be required to furnish no more than one comfort letter hereunder per calendar quarter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(r)&nbsp; <U>Secretary&rsquo;s
Certificate</U>. On or prior to the date of the first Issuance Notice and on each Triggering Event Date, the Company shall furnish the
Agent a certificate executed by the Secretary of the Company, signing in such capacity, dated the date of delivery (i)&nbsp;certifying
that attached thereto are true and complete copies of the resolutions duly adopted by the Board of Directors of the Company authorizing
the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby (including, without limitation,
the issuance of the Shares pursuant to this Agreement), which authorization shall be in full force and effect on and as of the date of
such certificate, (ii)&nbsp;certifying and attesting to the office, incumbency, due authority and specimen signatures of each Person
who executed this Agreement for or on behalf of the Company, and (iii)&nbsp;containing any other certification that the Agent shall reasonably
request.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(s)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Agent&rsquo;s
Own Account; Clients&rsquo; Account</U>. The Company consents to the Agent trading, in compliance with applicable law, in the Common Shares
for the Agent&rsquo;s own account and for the account of its clients at the same time as sales of the Shares occur pursuant to this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(t)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Investment
Limitation</U>. The Company shall not invest, or otherwise use the proceeds received by the Company from its sale of the Shares in such
a manner as would require the Company or any of its Subsidiaries to register as an investment company under the Investment Company Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(u)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Market
Activities</U>. The Company will not take, directly or indirectly, any action designed to or that might be reasonably expected to cause
or result in stabilization or manipulation of the price of the Shares or any other reference security, whether to facilitate the sale
or resale of the Shares or otherwise, and the Company will, and shall cause each of its Affiliates to, comply with all applicable provisions
of Regulation M. If the limitations of Rule&nbsp;102 of Regulation M (&ldquo;<B>Rule&nbsp;102</B>&rdquo;) do not apply with respect to
the Shares or any other reference security pursuant to any exception set forth in Section&nbsp;(d)&nbsp;of Rule&nbsp;102, then promptly
upon notice from the Agent (or, if later, at the time stated in the notice), the Company will, and shall cause each of its Affiliates
to, comply with Rule&nbsp;102 as though such exception were not available but the other provisions of Rule&nbsp;102 (as interpreted by
the Commission) did apply. The Company shall promptly notify the Agent if it no longer meets the requirements set forth in Section&nbsp;(d)&nbsp;of
Rule&nbsp;102.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Notice
of Other Sale</U>. Without the written consent of the Agent, the Company will not, directly or indirectly, (i)&nbsp;offer to sell, sell,
contract to sell, grant any option to sell or otherwise dispose of any Common Shares or securities convertible into or exchangeable for
Common Shares (other than Shares hereunder), warrants or any rights to purchase or acquire Common Shares, during the period beginning
on the third Trading Day immediately prior to the date on which any Issuance Notice is delivered to the Agent hereunder and ending on
the third Trading Day immediately following the Settlement Date with respect to Shares sold pursuant to such Issuance Notice; or (ii)&nbsp;enter into any other &ldquo;at the market&rdquo; or continuous equity transaction offer to sell, sell, contract
to sell, grant any option to sell or otherwise dispose of any Common Shares (other than the Shares offered pursuant to this Agreement)
or securities convertible into or exchangeable for Common Shares, warrants or any rights to purchase or acquire, Common Shares prior to
the later of the termination of this Agreement and the tenth (10th) day immediately following the final Settlement Date with respect to
Shares sold pursuant to such Issuance Notice; provided, however, that such restriction will not be required in connection with the Company&rsquo;s
(i)&nbsp;issuance or sale of Common Shares, options to purchase Common Shares or Common Shares issuable upon the exercise of options or
other equity awards pursuant to any employee or director share option, incentive or benefit plan, share purchase or ownership plan, long-term
incentive plan, dividend reinvestment plan, inducement award under Nasdaq rules&nbsp;or other compensation plan of the Company or its
Subsidiaries, as in effect on the date of this Agreement, (ii)&nbsp;issuance or sale of Common Shares issuable upon exchange, conversion
or redemption of securities or the exercise or vesting of warrants, options or other equity awards outstanding at the date of this Agreement
and (iii)&nbsp;modification of any outstanding options, warrants of any rights to purchase or acquire Common Shares.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;5. CONDITIONS TO DELIVERY OF ISSUANCE NOTICES AND TO
SETTLEMENT</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Conditions
Precedent to the Right of the Company to Deliver an Issuance Notice and the Obligation of the Agent to Sell Shares</U>. The right of the
Company to deliver an Issuance Notice hereunder is subject to the satisfaction, on the date of delivery of such Issuance Notice, and the
obligation of the Agent to use its commercially reasonable efforts to place Shares during the applicable period set forth in the Issuance
Notice is subject to the satisfaction, on each Trading Day during the applicable period set forth in the Issuance Notice, of each of the
following conditions:</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify"><U>Accuracy of the Company&rsquo;s Representations and Warranties; Performance by the Company</U>. The
Company shall have delivered the certificate required to be delivered pursuant to <U>Section&nbsp;4(o)</U>&nbsp;on or before the date
on which delivery of such certificate is required pursuant to <U>Section&nbsp;4(o)</U>. The Company shall have performed, satisfied and
complied with all covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Company
at or prior to such date, including, but not limited to, the covenants contained in <U>&lrm;Section&nbsp;4(m)</U>, <U>Section&nbsp;4(q)</U>&nbsp;and
<U>Section&nbsp;4(r)</U>.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify"><U>No Injunction</U>. No statute, rule, regulation, executive order, decree, ruling or injunction shall
have been enacted, entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby that prohibits or directly and materially adversely affects any of
the transactions contemplated by this Agreement, and no proceeding shall have been commenced that may have the effect of prohibiting or
materially adversely affecting any of the transactions contemplated by this Agreement.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify"><U>Material Adverse Effects</U>. Except as disclosed in the Prospectus and the Time of Sale Information,
(a)&nbsp;in the judgment of the Agent there shall not have occurred any Material Adverse Effect; and (b)&nbsp;there shall not have occurred
any downgrading, nor shall any notice have been given of any intended or potential downgrading or of any review for a possible change
that does not indicate the direction of the possible change, in the rating accorded any securities of the Company or any of its subsidiaries
by any &ldquo;nationally recognized statistical rating organization&rdquo; as such term is defined for purposes of Section&nbsp;3(a)(62)
of the Exchange Act.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</FONT></TD><TD STYLE="text-align: justify"><U>No Suspension of Trading in or Delisting of Common Shares; Other Events</U>. The trading of the Common
Shares (including without limitation the Shares) shall not have been suspended by the Commission, the Principal Market or FINRA and the
Common Shares (including without limitation the Shares) shall have been approved for listing or quotation on and shall not have been delisted
from the Nasdaq Stock Market, the New York Stock Exchange or any of their constituent markets. There shall not have occurred (and be continuing
in the case of occurrences under clauses&nbsp;(i)&nbsp;and (ii)&nbsp;below) any of the following: (i)&nbsp;trading or quotation in any
of the Company&rsquo;s securities shall have been suspended or limited by the Commission or by the Principal Market or trading in securities
generally on either the Principal Market shall have been suspended or limited, or minimum or maximum prices shall have been generally
established on any of such stock exchanges by the Commission or the FINRA; (ii)&nbsp;a general banking moratorium shall have been declared
by any of federal or New York, authorities; or (iii)&nbsp;there shall have occurred any outbreak or escalation of national or international
hostilities or any crisis or calamity, or any change in the United States or international financial markets, or any substantial change
or development involving a prospective substantial change in United States&rsquo; or international political, financial or economic conditions,
as in the judgment of the Agent is material and adverse and makes it impracticable to market the Shares in the manner and on the terms
described in the Prospectus or to enforce contracts for the sale of securities.</TD></TR></TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Documents
Required to be Delivered on each Issuance Notice Date</U>. The Agent&rsquo;s obligation to use its commercially reasonable efforts to
place Shares hereunder shall additionally be conditioned upon the delivery to the Agent on or before the Issuance Notice Date of a certificate
in form and substance reasonably satisfactory to the Agent, executed by the Chief Executive Officer, President or Chief Financial Officer
of the Company, to the effect that all conditions to the delivery of such Issuance Notice shall have been satisfied as at the date of
such certificate (which certificate shall not be required if the foregoing representations shall be set forth in the Issuance Notice).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>No
Misstatement or Material Omission</U>. Agent shall not have advised the Company that the Registration Statement, the Prospectus or the
Time of Sales Information, or any amendment or supplement thereto, contains an untrue statement of fact that in the Agent&rsquo;s reasonable
opinion is material, or omits to state a fact that in the Agent&rsquo;s reasonable opinion is material and is required to be stated therein
or is necessary to make the statements therein not misleading.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;6. INDEMNIFICATION AND CONTRIBUTION</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Indemnification
of the Agent</U>. The Company agrees to indemnify and hold harmless the Agent, its officers and employees, and each person, if any, who
controls the Agent within the meaning of the Securities Act or the Exchange Act against any loss, claim, damage, liability or expense,
as incurred, to which the Agent or such officer, employee or controlling person may become subject, under the Securities Act, the Exchange
Act, other federal or state statutory law or regulation, or the laws or regulations of foreign jurisdictions where Shares have been offered
or sold or at common law or otherwise (including in settlement of any litigation), insofar as such loss, claim, damage, liability or expense
(or actions in respect thereof as contemplated below) arises out of or is based upon: (i)&nbsp;any untrue statement or alleged untrue
statement of a material fact contained in the Registration Statement, or any amendment thereto, including any information deemed to be
a part thereof pursuant to Rule&nbsp;430B under the Securities Act, or the omission or alleged omission therefrom of a material fact required
to be stated therein or necessary to make the statements therein not misleading; or (ii)&nbsp;any untrue statement or alleged untrue statement
of a material fact contained in any Free Writing Prospectus that the Company has used, referred to or filed, or is required to file, pursuant
to Rule&nbsp;433(d)&nbsp;of the Securities Act or the Prospectus (or any amendment or supplement thereto), or the omission or alleged
omission therefrom of a material fact necessary in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading; and to reimburse the Agent and each such officer, employee and controlling person for any and all documented
expenses (including the reasonable and documented fees and disbursements of counsel chosen by the Agent) as such expenses are reasonably
incurred by the Agent or such officer, employee or controlling person in connection with investigating, defending, settling, compromising
or paying any such loss, claim, damage, liability, expense or action; provided, however, that the foregoing indemnity agreement shall
not apply to any loss, claim, damage, liability or expense to the extent, but only to the extent, arising out of or based upon any untrue
statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with written information
furnished to the Company by the Agent expressly for use in the Registration Statement, any such Free Writing Prospectus or the Prospectus
(or any amendment or supplement thereto), it being understood and agreed that the only such information furnished by the Agent to the
Company consists of the information set forth in the first sentence of the ninth paragraph under the caption &ldquo;Plan of Distribution&rdquo;
in the prospectus (the &ldquo;<B>Agent&rsquo;s Information</B>&rdquo;). The indemnity agreement set forth in this <U>&lrm;Section&nbsp;6(a)</U>&nbsp;shall
be in addition to any liabilities that the Company may otherwise have.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Indemnification
of the Company and Company Officers and Directors</U>. The Agent agrees to indemnify and hold harmless the Company, each of its directors,
each of its officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of the
Securities Act or the Exchange Act against any loss, claim, damage, liability or expense, as incurred, to which the Company or any such
director, officer or controlling person may become subject, under the Securities Act, the Exchange Act, other federal or state statutory
law or regulation, or the laws or regulations of foreign jurisdictions where Shares have been offered or sold or at common law or otherwise
(including in settlement of any litigation), insofar as such loss, claim, damage, liability or expense (or actions in respect thereof
as contemplated below) arises out of or is based upon (i)&nbsp;any untrue statement or alleged untrue statement of a material fact contained
in the Registration Statement, or any amendment thereto, including any information deemed to be a part thereof pursuant to Rule&nbsp;430B
under the Securities Act, or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary
to make the statements therein not misleading; or (ii)&nbsp;any untrue statement or alleged untrue statement of a material fact contained
in any Free Writing Prospectus that the Company has used, referred to or filed, or is required to file, pursuant to Rule&nbsp;433(d)&nbsp;of
the Securities Act or the Prospectus (or any amendment or supplement thereto), or the omission or alleged omission therefrom of a material
fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading;
but, for each of (i)&nbsp;and (ii)&nbsp;above, only to the extent arising out of or based upon any untrue statement or alleged untrue
statement or omission or alleged omission made in reliance upon and in conformity with written information furnished to the Company by
the Agent expressly for use in the Registration Statement, any such Free Writing Prospectus or the Prospectus (or any amendment or supplement
thereto), it being understood and agreed that the only such information furnished by the Agent to the Company consists of the Agent&rsquo;s
Information, and to reimburse the Company and each such director, officer and controlling person for any and all documented expenses (including
the reasonable and documented fees and disbursements of counsel chosen by the Company) as such expenses are reasonably incurred by the
Company or such officer, director or controlling person in connection with investigating, defending, settling, compromising or paying
any such loss, claim, damage, liability, expense or action. The indemnity agreement set forth in this Section&nbsp;6(b)&nbsp;shall be
in addition to any liabilities that the Agent or the Company may otherwise have.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Notifications
and Other Indemnification Procedures</U>. Promptly after receipt by an indemnified party under this <U>&lrm;Section&nbsp;6</U> of notice
of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against an indemnifying party
under this <U>&lrm;Section&nbsp;6</U>, notify the indemnifying party in writing of the commencement thereof, but the omission to so notify
the indemnifying party will not relieve it from any liability which it may have to any indemnified party for contribution or otherwise
than under the indemnity agreement contained in this <U>&lrm;Section&nbsp;6</U> or to the extent it is not prejudiced as a proximate result
of such failure. In case any such action is brought against any indemnified party and such indemnified party seeks or intends to seek
indemnity from an indemnifying party, the indemnifying party will be entitled to participate in, and, to the extent that it shall elect,
jointly with all other indemnifying parties similarly notified, by written notice delivered to the indemnified party promptly after receiving
the aforesaid notice from such indemnified party, to assume the defense thereof with counsel reasonably satisfactory to such indemnified
party; provided, however, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified
party shall have reasonably concluded that a conflict may arise between the positions of the indemnifying party and the indemnified party
in conducting the defense of any such action or that there may be legal defenses available to it and/or other indemnified parties which
are different from or additional to those available to the indemnifying party, the indemnified party or parties shall have the right to
select separate counsel to assume such legal defenses and to otherwise participate in the defense of such action on behalf of such indemnified
party or parties. Upon receipt of notice from the indemnifying party to such indemnified party of such indemnifying party&rsquo;s election
so to assume the defense of such action and approval by the indemnified party of counsel, the indemnifying party will not be liable to
such indemnified party under this <U>&lrm;Section&nbsp;6</U> for any legal or other expenses subsequently incurred by such indemnified
party in connection with the defense thereof unless (i)&nbsp;the indemnified party shall have employed separate counsel in accordance
with the proviso to the preceding sentence (it being understood, however, that the indemnifying party shall not be liable for the fees
and expenses of more than one separate counsel (together with local counsel), representing the indemnified parties who are parties to
such action), which counsel (together with any local counsel) for the indemnified parties shall be selected by the indemnified party (in
the case of counsel for the indemnified parties referred to in <U>&lrm;Section&nbsp;6(a)</U><B>&nbsp;</B>and <U>6(b)</U>&nbsp;above),
(ii)&nbsp;the indemnifying party shall not have employed counsel reasonably satisfactory to the indemnified party to represent the indemnified
party within a reasonable time after notice of commencement of the action or (iii)&nbsp;the indemnifying party has authorized in writing
the employment of counsel for the indemnified party at the expense of the indemnifying party, in each of which cases the fees and expenses
of counsel shall be at the expense of the indemnifying party and shall be paid as they are incurred.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Settlements</U>.
The indemnifying party under this <U>&lrm;Section&nbsp;6</U> shall not be liable for any settlement of any proceeding effected without
its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees
to indemnify the indemnified party against any loss, claim, damage, liability or expense by reason of such settlement or judgment. Notwithstanding
the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party
for fees and expenses of counsel as contemplated by <U>&lrm;Section&nbsp;6(b)</U>&nbsp;hereof, the indemnifying party agrees that it shall
be liable for any settlement of any proceeding effected without its written consent if (i)&nbsp;such settlement is entered into more than
30&nbsp;days after receipt by such indemnifying party of the aforesaid request; and (ii)&nbsp;such indemnifying party shall not have reimbursed
the indemnified party in accordance with such request prior to the date of such settlement. No indemnifying party shall, without the prior
written consent of the indemnified party, effect any settlement, compromise or consent to the entry of judgment in any pending or threatened
action, suit or proceeding in respect of which any indemnified party is or could have been a party and indemnity was or could have been
sought hereunder by such indemnified party, unless such settlement, compromise or consent includes an unconditional release of such indemnified
party from all liability on claims that are the subject matter of such action, suit or proceeding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Contribution</U>.
If the indemnification provided for in this <U>&lrm;Section&nbsp;6</U> is for any reason held to be unavailable to or otherwise insufficient
to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities or expenses referred to therein, then each
indemnifying party shall contribute to the aggregate amount paid or payable by such indemnified party, as incurred, as a result of any
losses, claims, damages, liabilities or expenses referred to therein (i)&nbsp;in such proportion as is appropriate to reflect the relative
benefits received by the Company, on the one hand, and the Agent, on the other hand, from the offering of the Shares pursuant to this
Agreement; or (ii)&nbsp;if the allocation provided by clause&nbsp;(i)&nbsp;above is not permitted by applicable law, in such proportion
as is appropriate to reflect not only the relative benefits referred to in clause&nbsp;(i)&nbsp;above but also the relative fault of the
Company, on the one hand, and the Agent, on the other hand, in connection with the statements or omissions which resulted in such losses,
claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative benefits received by the
Company, on the one hand, and the Agent, on the other hand, in connection with the offering of the Shares pursuant to this Agreement shall
be deemed to be in the same respective proportions as the total gross proceeds from the offering of the Shares (before deducting expenses)
received by the Company bear to the total commissions received by the Agent. The relative fault of the Company, on the one hand, and the
Agent, on the other hand, shall be determined by reference to, among other things, whether any such untrue or alleged untrue statement
of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company, on the one
hand, or the Agent, on the other hand, and the parties&rsquo; relative intent, knowledge, access to information and opportunity to correct
or prevent such statement or omission.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The amount paid or payable
by a party as a result of the losses, claims, damages, liabilities and expenses referred to above shall be deemed to include, subject
to the limitations set forth in <U>&lrm;Section&nbsp;6(b)</U>, any legal or other fees or expenses reasonably incurred by such party in
connection with investigating or defending any action or claim. The provisions set forth in <U>&lrm;Section&nbsp;6(b)</U>&nbsp;with respect
to notice of commencement of any action shall apply if a claim for contribution is to be made under this <U>&lrm;Section&nbsp;6(e)</U>;
<I>provided, however,</I> that no additional notice shall be required with respect to any action for which notice has been given under
<U>&lrm;Section&nbsp;6(b)</U>&nbsp;for purposes of indemnification.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company and the Agent agree that it would not
be just and equitable if contribution pursuant to this <U>&lrm;Section&nbsp;6(e)</U>&nbsp;were determined by pro rata allocation or by
any other method of allocation which does not take account of the equitable considerations referred to in this <U>&lrm;Section&nbsp;6(e)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notwithstanding the provisions
of this <U>&lrm;Section&nbsp;6(e)</U>, the Agent shall not be required to contribute any amount in excess of the agent fees received by
the Agent in connection with the offering contemplated hereby. No person guilty of fraudulent misrepresentation (within the meaning of
Section&nbsp;11(f)&nbsp;of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation. For purposes of this <U>&lrm;Section&nbsp;6(e)</U>, each officer and employee of the Agent and each person, if any,
who controls the Agent within the meaning of the Securities Act or the Exchange Act shall have the same rights to contribution as the
Agent, and each director of the Company, each officer of the Company who signed the Registration Statement, and each person, if any, who
controls the Company with the meaning of the Securities Act and the Exchange Act shall have the same rights to contribution as the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;7. TERMINATION&nbsp;&amp; SURVIVAL</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Term</U>.
Subject to the provisions of this <U>&lrm;Section&nbsp;7</U>, the term of this Agreement shall continue from the date of this Agreement
until the end of the Agency Period, unless earlier terminated by the parties to this Agreement pursuant to this <U>&lrm;Section&nbsp;7</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Termination;
Survival Following Termination</U>.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD STYLE="text-align: justify">Either party may terminate this Agreement prior to the end of the Agency Period, by giving written notice
as required by this Agreement, upon 10 Trading Days&rsquo; notice to the other party; provided that, (A)&nbsp;if the Company terminates
this Agreement after the Agent confirms to the Company any sale of Shares, the Company shall remain obligated to comply with <B><U>&lrm;</U></B><U>Section&nbsp;3(b)(v)</U>&nbsp;with
respect to such Shares and (B)&nbsp;<U>&lrm;Section&nbsp;2</U>, <U>&lrm;Section&nbsp;6</U>, <U>&lrm;Section&nbsp;7</U> and <U>&lrm;Section&nbsp;8</U>
shall survive termination of this Agreement. If termination shall occur prior to the Settlement Date for any sale of Shares, such sale
shall nevertheless settle in accordance with the terms of this Agreement.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">(ii)&nbsp;In addition
to the survival provision of <U>&lrm;Section&nbsp;7(b)(i)</U>, the respective indemnities, agreements, representations, warranties and
other statements of the Company, of its officers and of the Agent set forth in or made pursuant to this Agreement will remain in full
force and effect, regardless of any investigation made by or on behalf of the Agent or the Company or any of its or their partners, officers
or directors or any controlling person, as the case may be, and, anything herein to the contrary notwithstanding, will survive delivery
of and payment for the Shares sold hereunder and any termination of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;8. MISCELLANEOUS</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Press
Releases and Disclosure</U>. The Company may issue a press release describing the material terms of the transactions contemplated hereby
as soon as practicable following the date of this Agreement, and may file with the Commission a Current Report on Form&nbsp;8-K, with
this Agreement attached as an exhibit thereto, describing the material terms of the transactions contemplated hereby, and the Company
shall consult with the Agent prior to making such disclosures, and the parties hereto shall use all commercially reasonable efforts, acting
in good faith, to agree upon a text for such disclosures that is reasonably satisfactory to all parties hereto. No party hereto shall
issue thereafter any press release or like voluntary public statement related to this Agreement or any of the transactions contemplated
hereby without the prior written approval of the other party hereto, except as may be necessary or appropriate in the reasonable opinion
of the party seeking to make disclosure to comply with the requirements of applicable law or stock exchange rules. If any such press release
or like voluntary public statement is so proposed, the party making such disclosure shall consult with the other party prior to making
such disclosure, and the parties shall use all commercially reasonable efforts, acting in good faith, to agree upon a text for such disclosure
that is reasonably satisfactory to all parties hereto.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>No
Advisory or Fiduciary Relationship</U>.</FONT> The Company acknowledges and agrees that (i)&nbsp;the transactions contemplated by this
Agreement, including the determination of any fees, are arm&rsquo;s-length commercial transactions between the Company and the Agent,
(ii)&nbsp;when acting as a principal under this Agreement, the Agent is and has been acting solely as a principal and is not the agent
or fiduciary of the Company, or its stockholders, creditors, employees or any other party, (iii)&nbsp;the Agent has not assumed nor will
assume an advisory or fiduciary responsibility in favor of the Company with respect to the transactions contemplated hereby or the process
leading thereto (irrespective of whether the Agent has advised or is currently advising the Company on other matters) and the Agent does
not have any obligation to the Company with respect to the transactions contemplated hereby except the obligations expressly set forth
in this Agreement, (iv)&nbsp;the Agent and its respective affiliates may be engaged in a broad range of transactions that involve interests
that differ from those of the Company, and (v)&nbsp;the Agent has not provided any legal, accounting, regulatory or tax advice with respect
to the transactions contemplated hereby and the Company has consulted its own legal, accounting, regulatory and tax advisors to the extent
it deemed appropriate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Research
Analyst Independence</U>. The Company acknowledges that the Agent&rsquo;s research analysts and research departments are required to and
should be independent from their respective investment banking divisions and are subject to certain regulations and internal policies,
and as such the Agent&rsquo;s research analysts may hold views and make statements or investment recommendations and/or publish research
reports with respect to the Company or the offering that differ from the views of their respective investment banking divisions. The Company
understands that the Agent is a full service securities firm and as such from time to time, subject to applicable securities laws, may
effect transactions for its own account or the account of its customers and hold long or short positions in debt or equity securities
of the companies that may be the subject of the transactions contemplated by this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Notices</U></FONT>.
All communications hereunder shall be in writing and shall be mailed, hand delivered, telecopied, or delivered by email; provided that,
delivery by email is only acceptable if the recipient is the Company or counsel to the Company, and confirmed to the parties hereto as
follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
to the </FONT>Agent:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Jefferies LLC<BR>
520 Madison Avenue<BR>
New&nbsp;York, NY 10022<BR>
Facsimile:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Attention: General Counsel</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.5in">with a copy (which shall not constitute
notice) to:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.5in">Latham&nbsp;&amp; Watkins LLP</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">12670 High Bluff Drive</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">San Diego, CA 92130</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Facsimile: (858) 523-5450</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Attention: Michael E. Sullivan,&nbsp;Esq.</P>

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

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

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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.5in">If to the Company:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Protagonist Therapeutics,&nbsp;Inc.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">7707 Gateway Blvd., Suite&nbsp;140</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Newark, California 94560</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Attention: Dinesh Patel and Asif Ali</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email:
</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.5in">with a copy (which shall not constitute
notice) to:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Gibson, Dunn&nbsp;&amp; Crutcher LLP</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">555 Mission Street, Suite&nbsp;3000</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">San Francisco, CA 94105</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Attention: Ryan A. Murr; Branden C. Berns</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any party hereto may change the address for receipt
of communications by giving written notice to the others in accordance with this <U>&lrm;Section&nbsp;8(d)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Successors</U>.</FONT>
This Agreement will inure to the benefit of and be binding upon the parties hereto, and to the benefit of the employees, officers and
directors and controlling persons referred to in <U>&lrm;Section&nbsp;6</U>, and in each case their respective successors, and no other
person will have any right or obligation hereunder. The term &ldquo;successors&rdquo; shall not include any purchaser of the Shares as
such from the Agent merely by reason of such purchase.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Partial
Unenforceability</U></FONT>. The invalidity or unenforceability of any Article, Section, paragraph or provision of this Agreement shall
not affect the validity or enforceability of any other Article, Section, paragraph or provision hereof. If any Article, Section, paragraph
or provision of this Agreement is for any reason determined to be invalid or unenforceable, there shall be deemed to be made such minor
changes (and only such minor changes) as are necessary to make it valid and enforceable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Governing
Law Provisions</U>.</FONT> This Agreement shall be governed by and construed in accordance with the internal laws of the State of New
York applicable to agreements made and to be performed in such state. Any legal suit, action or proceeding arising out of or based upon
this Agreement or the transactions contemplated hereby may be instituted in the federal courts of the United States of America located
in the Borough of Manhattan in the City of New York or the courts of the State of New York in each case located in the Borough of Manhattan
in the City of New York (collectively, the &ldquo;<B>Specified Courts</B>&rdquo;), and each party irrevocably submits to the exclusive
jurisdiction (except for proceedings instituted in regard to the enforcement of a judgment of any such court, as to which such jurisdiction
is non-exclusive) of such courts in any such suit, action or proceeding. Service of any process, summons, notice or document by mail to
such party&rsquo;s address set forth above shall be effective service of process for any suit, action or other proceeding brought in any
such court. The parties irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or other proceeding
in the Specified Courts and irrevocably and unconditionally waive and agree not to plead or claim in any such court that any such suit,
action or other proceeding brought in any such court has been brought in an inconvenient forum.</P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>General
Provisions</U>.</FONT> This Agreement constitutes the entire agreement of the parties to this Agreement and supersedes all prior written
or oral and all contemporaneous oral agreements, understandings and negotiations with respect to the subject matter hereof. This Agreement
may be executed in two or more counterparts, each one of which shall be an original, with the same effect as if the signatures thereto
and hereto were upon the same instrument, and may be delivered by facsimile transmission or by electronic delivery of a portable document
format (PDF) file. This Agreement may not be amended or modified unless in writing by all of the parties hereto, and no condition herein
(express or implied) may be waived unless waived in writing by each party whom the condition is meant to benefit. The Article&nbsp;and
Section&nbsp;headings herein are for the convenience of the parties only and shall not affect the construction or interpretation of this
Agreement.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>[Signature Page&nbsp;Immediately Follows]</I></P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If the foregoing is in accordance
with your understanding of our agreement, kindly sign and return to the Company the enclosed copies hereof, whereupon this instrument,
along with all counterparts hereof, shall become a binding agreement in accordance with its terms</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><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: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">PROTAGONIST THERAPEUTICS,&nbsp;INC.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><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: bottom">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 47%"> <FONT STYLE="font-size: 10pt">/s/ Asif Ali</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: Asif Ali</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: Chief Financial Officer</FONT></TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The foregoing Agreement is hereby confirmed and
accepted by the Agent in New York, New York as of the date first above written.</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 47%"><FONT STYLE="font-size: 10pt">/s/
Michael Magarro</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: Michael Magarro</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>


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

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

<!-- Field: Page; Sequence: 34 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">&nbsp;</DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">520 Madison Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10022</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Reference is made to the Open Market Sale Agreement between Protagonist
Therapeutics,&nbsp;Inc. (the &ldquo;<B>Company</B>&rdquo;) and Jefferies LLC (the &ldquo;<B>Agent</B>&rdquo;) dated as of August&nbsp;5,
2022. The Company confirms that all conditions to the delivery of this Issuance Notice are satisfied as of the date hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date of Delivery of Issuance Notice (determined pursuant to <U>&lrm;Section&nbsp;3(b)(i)</U>):
_______________________</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Issuance Amount (equal to the total Sales Price for such Shares):</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 25%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 2%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 23%">&nbsp;</TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Number of days in selling period:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">First date of selling period:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Last date of selling period:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Settlement Date(s)&nbsp;if other than standard T+2 settlement:</P>

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

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



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 25%"></TD><TD STYLE="border-bottom: Black 1pt solid; width: 25%; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify; width: 50%">&nbsp;</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Floor Price Limitation (in no event less than
$1.00 without the prior written consent of the Agent, which consent may be withheld in the Agent&rsquo;s sole discretion): $ ____ per
share</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 5%">Comments:</TD>
<TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 95%">&nbsp;</TD>
</TR></TABLE>

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

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



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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 24%"><FONT STYLE="font-size: 10pt"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 23%"><FONT STYLE="font-size: 10pt"><I>&nbsp;</I></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><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: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><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">Name:</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><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">Title:</FONT></TD></TR>
  </TABLE>


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

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

<!-- Field: Page; Sequence: 35; Options: NewSection; Value: 1 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dinesh V. Patel, Ph.D. </P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Incorporated by reference to Exhibit&nbsp;21.1 of the Company&rsquo;s
most recently filed Form&nbsp;10-K.</P>

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

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

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

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

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<DESCRIPTION>EXHIBIT 4.2
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;4.2</B></P>

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

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Dated as of [</B>&#9679;<B>], 202[</B>&#9679;<B>]</B></P>

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>INDENTURE</B>, dated as of [&#9679;], 202 , among <B>PROTAGONIST
THERAPEUTICS,&nbsp;INC.</B>, a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), and [<B>TRUSTEE</B>] as trustee (the &ldquo;<B>Trustee</B>&rdquo;):</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>WHEREAS</B>, for its lawful corporate purposes, the Company has
duly authorized the execution and delivery of this Indenture to provide for the issuance of debt securities (hereinafter referred to as
the &ldquo;<B>Securities</B>&rdquo;), in an unlimited aggregate principal amount to be issued from time to time in one or more series
as in this Indenture provided, as registered Securities without coupons, to be authenticated by the certificate of the Trustee;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>WHEREAS</B>, to provide the terms and conditions upon which the
Securities are to be authenticated, issued and delivered, the Company has duly authorized the execution of this Indenture; and</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NOW, THEREFORE</B>, in consideration of the premises and the purchase
of the Securities by the holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable benefit of the holders
of Securities:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;1</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Section&nbsp;1.01</U>&nbsp;<U>Definitions of Terms.</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The terms defined in this Section&nbsp;(except as in this Indenture
or any indenture supplemental hereto otherwise expressly provided or unless the context otherwise requires) for all purposes of this Indenture
and of any indenture supplemental hereto shall have the respective meanings specified in this Section&nbsp;and shall include the plural
as well as the singular. All other terms used in this Indenture that are defined in the Trust Indenture Act of 1939, as amended, or that
are by reference in such Act defined in the Securities Act of 1933, as amended (except as herein or any indenture supplemental hereto
otherwise expressly provided or unless the context otherwise requires), shall have the meanings assigned to such terms in said Trust Indenture
Act and in said Securities Act as in force at the date of the execution of this instrument.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Authenticating Agent</B>&rdquo; means an authenticating agent
with respect to all or any of the series of Securities appointed by the Trustee pursuant to <U>Section&nbsp;2.10</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Bankruptcy Law</B>&rdquo; means Title 11, U.S. Code, or any
similar federal or state law for the relief of debtors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Board of Directors</B>&rdquo; means the Board of Directors
(or the functional equivalent thereof) of the Company or any duly authorized committee of such Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Board Resolution</B>&rdquo; means a copy of a resolution
certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full
force and effect on the date of such certification and delivered to the Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Business Day</B>&rdquo; means, with respect to any series
of Securities, any day other than a day on which federal or state banking institutions in the Borough of Manhattan, the City of New York,
or at a place of payment, are authorized or obligated by law, executive order or regulation to close.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Commission</B>&rdquo; means the Securities and Exchange Commission,
as from time to time constituted, created under the Exchange Act, or, if at any time after the execution of this instrument such Commission
is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such
time.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Company</B>&rdquo; means Protagonist Therapeutics,&nbsp;Inc.,
a corporation duly organized and existing under the laws of the State of Delaware, and, subject to the provisions of <U>Article&nbsp;10</U>,
shall also include its successors and assigns.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Company Order</B>&rdquo; means a written order of the Company,
signed by an Officer of the Company, and delivered to the Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Corporate Trust Office</B>&rdquo; means the 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 .</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Custodian</B>&rdquo; means any receiver, trustee, assignee,
liquidator or similar official under any Bankruptcy Law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Defaulted Interest</B>&rdquo; has the meaning set forth in
<U>Section&nbsp;2.03</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Depositary</B>&rdquo; means, with respect to Securities of
any series for which the Company shall determine that such Securities will be issued as a Global Security, The Depository Trust Company,
another clearing agency, or any successor registered as a clearing agency under the Exchange Act, or other applicable statute or regulation,
which, in each case, shall be designated by the Company pursuant to either <U>Section&nbsp;2.01</U> or <U>2.11</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Event of Default</B>&rdquo; means, with respect to Securities
of a particular series, any event specified in <U>Section&nbsp;6.01</U>, continued for the period of time, if any, therein designated.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Exchange Act</B>&rdquo; means the United States Securities
and Exchange Act of 1934, as amended, and the rules&nbsp;and regulations promulgated by the Commission thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Global Security</B>&rdquo; means a Security issued to evidence
all or a part of any series of Securities which is executed by the Company and authenticated and delivered by the Trustee to the Depositary
or pursuant to the Depositary&rsquo;s instruction, all in accordance with the Indenture, which shall be registered in the name of the
Depositary or its nominee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Governmental Obligations</B>&rdquo; means securities that
are (a)&nbsp;direct obligations of the United States of America for the payment of which its full faith and credit is pledged or (b)&nbsp;obligations
of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America, the payment of which
is unconditionally guaranteed as a full faith and credit obligation by the United States of America that, in either case, are not callable
or redeemable at the option of the issuer thereof at any time prior to the stated maturity of the applicable series of Securities, and
shall also include a depositary receipt issued by a bank or trust company as custodian with respect to any such Governmental Obligation
or a specific payment of principal of or interest on any such Governmental Obligation held by such custodian for the account of the holder
of such depositary receipt; <I>provided</I>, <I>however</I>, that (except as required by law) such custodian is not authorized to make
any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of
the Governmental Obligation or the specific payment of principal of or interest on the Governmental Obligation evidenced by such depositary
receipt.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Indenture</B>&rdquo; means this instrument as originally
executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into in accordance
with the terms hereof and shall include the terms of particular series of Securities established as contemplated by <U>Section&nbsp;2.01</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Interest Payment Date</B>&rdquo;, when used with respect
to any installment of interest on a Security of a particular series, means the date specified in such Security or in a Board Resolution
or in an indenture supplemental hereto with respect to such series as the fixed date on which an installment of interest with respect
to Securities of that series is due and payable.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Officer</B>&rdquo; means, with respect to the Company, the
Chairman of the Board of Directors, a Chief Executive Officer, a President, a Chief Financial Officer, a Chief Operating Officer, any
Executive Vice President, any Senior Vice President, any Vice President, the Treasurer or any Assistant Treasurer, the Controller or any
Assistant Controller or the Secretary or any Assistant Secretary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Officer&rsquo;s Certificate</B>&rdquo; means a certificate
signed by any Officer. Each such certificate shall include the statements provided for in <U>Section&nbsp;13.07</U>, if and to the extent
required by the provisions thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Opinion of Counsel</B>&rdquo; means an opinion in writing
subject to customary exceptions of legal counsel, who may be an employee of or counsel for the Company, that is delivered to the Trustee
in accordance with the terms hereof. Each such opinion shall include the statements provided for in <U>Section&nbsp;13.07</U>, if and
to the extent required by the provisions thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Outstanding</B>&rdquo;, when used with reference to Securities
of any series, means, subject to the provisions of <U>Section&nbsp;8.04</U>, as of any particular time, all Securities of that series
theretofore authenticated and delivered by the Trustee under this Indenture, except (a)&nbsp;Securities theretofore canceled by the Trustee
or any paying agent, or delivered to the Trustee or any paying agent for cancellation or that have previously been canceled; (b)&nbsp;Securities
or portions thereof for the payment or redemption of which moneys or Governmental Obligations in the necessary amount shall have been
deposited in trust with the Trustee or with any paying agent (other than the Company) or shall have been set aside and segregated in trust
by the Company (if the Company shall act as its own paying agent); <I>provided</I>, <I>however</I>, that if such Securities or portions
of such Securities are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in <U>Article&nbsp;3</U>,
or provision satisfactory to the Trustee shall have been made for giving such notice; and (c)&nbsp;Securities in lieu of or in substitution
for which other Securities shall have been authenticated and delivered pursuant to the terms of <U>Section&nbsp;2.07</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Person</B>&rdquo; means any individual, corporation, partnership,
joint venture, joint-stock company, limited liability company, association, trust, unincorporated organization, any other entity or organization,
including a government or political subdivision or an agency or instrumentality thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Predecessor Security</B>&rdquo; of any particular Security
means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for the
purposes of this definition, any Security authenticated and delivered under <U>Section&nbsp;2.07</U> in lieu of a lost, destroyed or stolen
Security shall be deemed to evidence the same debt as the lost, destroyed or stolen Security.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Responsible Officer</B>&rdquo; when used with respect to
the Trustee means any officer within the corporate trust department of the Trustee, including any vice president, assistant vice president,
assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar
to those performed by the Persons who at the time shall be such officers, respectively, or to whom any corporate trust matter relating
to this Indenture is referred because of such person&rsquo;s knowledge of and familiarity with the particular subject and, in each case,
who shall have direct responsibility for the administration of this Indenture (which, for the avoidance of doubt, includes without limitation
any supplemental indenture hereto).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Securities</B>&rdquo; has the meaning stated in the first
recital of this Indenture and more particularly means any Securities authenticated and delivered under this Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Securityholder</B>&rdquo;, &ldquo;<B>holder</B>&rdquo;, &ldquo;<B>registered
holder</B>&rdquo;, or other similar term, means the Person or Persons in whose name or names a particular Security is registered on the
Security Register kept for that purpose in accordance with the terms of this Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Security Register</B>&rdquo; and &ldquo;<B>Security Registrar</B>&rdquo;
shall have the meanings as set forth in <U>Section&nbsp;2.05</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Subsidiary</B>&rdquo; means, with respect to any Person:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;any corporation or company a majority of whose capital stock
with voting power, under ordinary circumstances, to elect directors is, at the date of determination, directly or indirectly, owned by
such Person (a &ldquo;<B>subsidiary</B>&rdquo;), by one or more subsidiaries of such Person or by such Person and one or more subsidiaries
of such Person;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2)&nbsp;a partnership in which such Person or a subsidiary of such
Person is, at the date of determination, a general partner of such partnership; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3)&nbsp;any partnership, limited liability company or other Person
in which such Person, a subsidiary of such Person or such Person and one or more subsidiaries of such Person, directly or indirectly,
at the date of determination, have (x)&nbsp;at least a majority ownership interest or (y)&nbsp;the power to elect or appoint or direct
the election or appointment of the managing partner or member of such Person or, if applicable, a majority of the directors or other governing
body of such Person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Trustee</B>&rdquo; means , and, subject to the provisions
of <U>Article&nbsp;7</U>, shall also include its successors and assigns, and, if at any time there is more than one Person acting in such
capacity hereunder, &ldquo;Trustee&rdquo; shall mean each such Person. The term &ldquo;Trustee&rdquo; as used with respect to a particular
series of the Securities shall mean the trustee with respect to that series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Trust Indenture Act</B>&rdquo; means the Trust Indenture
Act of 1939, as amended and in effect from time to time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>U.S. dollar</B>&rdquo; or &ldquo;<B>$</B>&rdquo; means the
lawful currency of the United States of America.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION
AND EXCHANGE OF SECURITIES</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.01 <U>Designation and Terms of Securities</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;The aggregate principal amount of Securities that may be authenticated
and delivered under this Indenture is unlimited. The Securities may be issued in one or more series up to the aggregate principal amount
of Securities of that series from time to time authorized by or pursuant to a Board Resolution or pursuant to one or more indentures supplemental
hereto. Prior to the initial issuance of Securities of any series, there shall be established in or pursuant to a Board Resolution, and
set forth in an Officer&rsquo;s Certificate or established in one or more indentures supplemental hereto:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>(1)</U>&nbsp;the title of the Securities of the series (which shall
distinguish the Securities of that series from all other Securities);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2)&nbsp;any limit upon the aggregate principal amount of the Securities
of that series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration
of transfer of, or in exchange for, or in lieu of, other Securities of that series);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3)&nbsp;the date or dates on which the principal of the Securities
of the series is payable;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(4)&nbsp;if the price (expressed as a percentage of the aggregate principal
amount thereof) at which such Securities will be issued is a price other than the principal amount thereof, the portion of the principal
amount thereof payable upon declaration of acceleration of the maturity thereof, or if applicable, the portion of the principal amount
of such Securities that is convertible into another security or the method by which any such portion shall be determined;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(5)&nbsp;the rate or rates at which the Securities of the series shall
bear interest or the manner of calculation of such rate or rates, if any;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(6)&nbsp;the date or dates from which such interest shall accrue, the
Interest Payment Dates on which such interest will be payable or the manner of determination of such Interest Payment Dates, the place(s)&nbsp;of
payment, and the record date for the determination of holders to whom interest is payable on any such Interest Payment Dates or the manner
of determination of such record dates;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(7)&nbsp;the right, if any, to extend the interest payment periods
and the duration of such extension;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(8)&nbsp;the period or periods within which, the price or prices at
which and the terms and conditions upon which Securities of the series may be redeemed, converted or exchanged, in whole or in part;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(9)&nbsp;the obligation, if any, of the Company to redeem or purchase
Securities of the series pursuant to any sinking fund, mandatory redemption, or analogous provisions (including payments made in cash
in satisfaction of future sinking fund obligations) or at the option of a holder thereof and the period or periods within which, the price
or prices at which, and the terms and conditions upon which, Securities of the series shall be redeemed or purchased, in whole or in part,
pursuant to such obligation;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(10)&nbsp;the form of the Securities of the series including the form
of the Certificate of Authentication for such series;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(11) if other than minimum denominations of one thousand U.S. dollars
($1,000) or any integral multiple of $1,000 thereof, the denominations in which the Securities of the series shall be issuable;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(12) any and all other terms (including terms, to the extent applicable,
relating to any auction or remarketing of the Securities of that series and any security for the obligations of the Company with respect
to such Securities) with respect to such series (which terms shall not be inconsistent with the terms of this Indenture, as amended by
any supplemental indenture) including any terms which may be required by or advisable under United States laws or regulations or advisable
in connection with the marketing of Securities of that series;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(13) whether the Securities of the series shall be issued in whole
or in part in the form of a Global Security or Securities; the terms and conditions, if any, upon which such Global Security or Securities
may be exchanged in whole or in part for other individual Securities; and the Depositary for such Global Security or Securities;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(14) whether the Securities will be convertible into or exchangeable
for shares of common stock, preferred stock or other securities of the Company or any other Person and, if so, the terms and conditions
upon which such Securities will be so convertible or exchangeable, including the conversion or exchange price, as applicable, or how it
will be calculated and may be adjusted, any mandatory or optional (at the Company&rsquo;s option or the holders&rsquo; option) conversion
or exchange features, and the applicable conversion or exchange period;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(15) if other than the full principal amount thereof, the portion of
the principal amount of Securities of the series which shall be payable upon declaration of acceleration of the maturity thereof pursuant
to <U>Section&nbsp;6.01</U>;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(16) any additional or alternative Events of Default;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(17) additional or alternative covenants (which may include, among
other restrictions, restrictions on the Company&rsquo;s ability or the ability of the Company&rsquo;s Subsidiaries to: incur additional
indebtedness; issue additional securities; create liens; pay dividends or make distributions in respect of the capital stock of the Company
or the Company&rsquo;s Subsidiaries; redeem capital stock; place restrictions on the Company&rsquo;s Subsidiaries&rsquo; ability to pay
dividends, make distributions or transfer assets; make investments or other restricted payments; sell or otherwise dispose of assets;
enter into sale-leaseback transactions; engage in transactions with stockholders or affiliates; issue or sell stock of the Company&rsquo;s
Subsidiaries; or effect a consolidation or merger) or financial covenants (which may include, among other financial covenants, financial
covenants that require the Company and its Subsidiaries to maintain specified interest coverage, fixed charge, cash flow-based, asset-based
or other financial ratios) provided for with respect to the Securities of the series;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(18) the currency or currencies, including composite currencies, in
which payment of the principal of (and premium, if any) and interest, if any, on such Securities shall be payable (if other than the currency
of the United States of America), which unless otherwise specified shall be the currency of the United States of America as at the time
of payment is legal tender for payment of public or private debts;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(19) if the principal of (and premium, if any) or interest, if any,
on such Securities is to be payable, at the election of the Company or any holder thereof, in a coin or currency other than that in which
such Securities are stated to be payable, then the period or periods within which, and the terms and conditions upon which, such election
may be made;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(20) whether interest will be payable in cash or additional Securities
at the Company&rsquo;s or the Securityholders&rsquo; option and the terms and conditions upon which the election may be made;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(21) the terms and conditions, if any, upon which the Company shall
pay amounts in addition to the stated interest, premium, if any and principal amounts of the Securities of the series to any Securityholder
that is not a &ldquo;United States person&rdquo; for federal tax purposes;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(22) additional or alternative provisions, if any, related to defeasance
and discharge of the offered Securities;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(23) the applicability of any guarantees;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(24) any restrictions on transfer, sale or assignment of the Securities
of the series; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(25) any other terms of the series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All Securities of any one series shall be substantially identical except
as may otherwise be provided in or pursuant to any such Board Resolution or in any indentures supplemental hereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If any of the terms of the series are established by action taken pursuant
to a Board Resolution of the Company, a copy of an appropriate record of such action shall be certified by the secretary or an assistant
secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officer&rsquo;s Certificate of the Company setting
forth the terms of the series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities of any particular series may be issued at various times,
with different dates on which the principal or any installment of principal is payable, with different rates of interest, if any, or different
methods by which rates of interest may be determined, with different dates on which such interest may be payable and with different redemption
dates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.02 <U>Form&nbsp;of Securities and Trustee&rsquo;s Certificate</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Securities of any series and the Trustee&rsquo;s certificate of
authentication to be borne by such Securities shall be substantially of the tenor and purport as set forth in one or more indentures supplemental
hereto or as provided in a Board Resolution, and set forth in an Officer&rsquo;s Certificate, and they may have such letters, numbers
or other marks of identification or designation and such legends or endorsements printed, lithographed or engraved thereon as the Company
may deem appropriate and as are not inconsistent with the provisions of this Indenture, or as may be required to comply with any law or
with any rule&nbsp;or regulation made pursuant thereto or with any rule&nbsp;or regulation of any securities exchange on which Securities
of that series may be listed, or to conform to usage.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.03 <U>Denominations: Provisions for Payment</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Securities shall be issuable as registered Securities and in the
minimum denominations of one thousand U.S. dollars ($1,000) or any integral multiple of $1,000 thereof, subject to Section&nbsp;2.01(a)(11).
The Securities of a particular series shall bear interest payable on the dates and at the rate specified with respect to that series.
Subject to <U>Section&nbsp;2.01(a)(18)</U>, the principal of and the interest on the Securities of any series, as well as any premium
thereon in case of redemption thereof prior to maturity, shall be payable in the coin or currency of the United States of America that
at the time is legal tender for public and private debt, at the office or agency of the Company maintained for that purpose. Each Security
shall be dated the date of its authentication. Interest on the Securities shall be computed on the basis of a 360-day year composed of
twelve 30-day months.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The interest installment on any Security that is payable, and is punctually
paid or duly provided for, on any Interest Payment Date for Securities of that series shall be paid to the Person in whose name said Security
(or one or more Predecessor Securities) is registered at the close of business on the regular record date for such interest installment.
In the event that any Security of a particular series or portion thereof is called for redemption and the redemption date is subsequent
to a regular record date with respect to any Interest Payment Date and prior to such Interest Payment Date, interest on such Security
will be paid upon presentation and surrender of such Security as provided in <U>Section&nbsp;3.03</U>.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any interest on any Security that is payable, but is not punctually
paid or duly provided for, on any Interest Payment Date for Securities of the same series (herein called &ldquo;<B>Defaulted Interest</B>&rdquo;)
shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder;
and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (1)&nbsp;or clause (2)&nbsp;below:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;The Company may elect to make payment of any Defaulted Interest
on Securities 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, 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 Company shall fix a special record date for the payment of such Defaulted Interest
which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt
by the Trustee of the notice of the proposed payment. The Company shall promptly notify the Trustee in writing of such special record
date and in such notice, instruct the Trustee to send such notice to holders, in the name and at the expense of the Company, shall cause
notice of the proposed payment of such Defaulted Interest and the special record date therefor to be sent electronically or mailed, first
class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register (as hereinafter defined), not
less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record
date therefor having been sent as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their
respective Predecessor Securities) are registered on such special record date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2)&nbsp;The Company may make or cause to be made payment of any Defaulted
Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such
Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee
of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Unless otherwise set forth in a Board Resolution or one or more indentures
supplemental hereto establishing the terms of any series of Securities pursuant to <U>Section&nbsp;2.01</U> hereof, the term &ldquo;regular
record date&rdquo; as used in this Section&nbsp;with respect to a series of Securities and any Interest Payment Date for such series shall
mean either (i)&nbsp;the fifteenth day of the month immediately preceding the month in which an Interest Payment Date established for
such series pursuant to <U>Section&nbsp;2.01</U> hereof shall occur, if such Interest Payment Date is the first day of a month, or (ii)&nbsp;the
first day of the month in which an Interest Payment Date established for such series pursuant to <U>Section&nbsp;2.01</U> hereof shall
occur, if such Interest Payment Date is the fifteenth day of a month, whether or not such date is a Business Day.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Subject to the foregoing provisions of this Section, each Security
of a series delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security of such series shall carry
the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.04 <U>Execution and Authentications</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Securities shall be signed on behalf of the Company by one of its
Officers. Signatures may be in the form of a manual or facsimile signature.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company may use the facsimile signature of any Person who shall
have been an Officer, notwithstanding the fact that at the time the Securities shall be authenticated and delivered or disposed of such
Person shall have ceased to be such an officer of the Company. The Securities may contain such notations, legends or endorsements required
by law, stock exchange rule&nbsp;or usage. Each Security shall be dated the date of its authentication by the Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A Security shall not be valid until authenticated manually by an authorized
signatory of the Trustee, or by an Authenticating Agent. Such signature shall be conclusive evidence that the Security so authenticated
has been duly authenticated and delivered hereunder and that the holder is entitled to the benefits of this Indenture. At any time and
from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the
Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, signed
by an Officer, and the Trustee in accordance with such Company Order shall authenticate and deliver such Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In authenticating such Securities and accepting the additional responsibilities
under this Indenture in relation to such Securities, the Trustee shall receive, and (subject to <U>Section&nbsp;7.01</U>) shall be fully
protected in conclusively relying upon, an Officer&rsquo;s Certificate and an Opinion of Counsel stating that the form and terms thereof
have been established in conformity with the provisions of this Indenture, that all conditions precedent in connection with the issuance,
authentication and delivery of such Securities have been met and that such Securities are legal, valid and binding obligations against
the Company, enforceable against it in accordance with its terms, subject to customary exceptions and qualifications.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Trustee shall not be required to authenticate such Securities if
the issue of such Securities pursuant to this Indenture will affect the Trustee&rsquo;s own rights, duties or immunities under the Securities
and this Indenture or otherwise in a manner that is not reasonably acceptable to the Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.05 <U>Registration of Transfer and Exchange</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;Securities of any series may be exchanged upon presentation
thereof at the office or agency of the Company designated for such purpose, for other Securities of such series of authorized denominations,
and for a like aggregate principal amount, upon payment of a sum sufficient to cover any tax or other governmental charge in relation
thereto, all as provided in this Section. In respect of any Securities so surrendered for exchange, the Company shall execute, the Trustee
shall authenticate and such office or agency shall deliver in exchange therefor the Security or Securities of the same series that the
Securityholder making the exchange shall be entitled to receive, bearing numbers not contemporaneously outstanding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;The Company shall keep, or cause to be kept, at its office
or agency designated for such purpose a register or registers (herein referred to as the &ldquo;<B>Security Register</B>&rdquo;) in which,
subject to such reasonable regulations as it may prescribe, the Company shall register the Securities and the transfers of Securities
as in this Article&nbsp;provided and which at all reasonable times shall be open for inspection by the Trustee. The registrar for the
purpose of registering Securities and transfer of Securities as herein provided shall be appointed as authorized by Board Resolution (the
 &ldquo;<B>Security Registrar</B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Upon surrender for transfer of any Security at the office or agency
of the Company designated for such purpose, the Company shall execute, the Trustee shall authenticate and such office or agency shall
deliver in the name of the transferee or transferees a new Security or Securities of the same series as the Security presented for a like
aggregate principal amount.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All Securities presented or surrendered for exchange or registration
of transfer, as provided in this Section, shall be accompanied (if so required by the Company or the Security Registrar) by a written
instrument or instruments of transfer, in form satisfactory to the Company or the Security Registrar, duly executed by the registered
holder or by such holder&rsquo;s duly authorized attorney in writing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;Except as provided pursuant to <U>Section&nbsp;2.01</U> pursuant
to a Board Resolution, and set forth in an Officer&rsquo;s Certificate, or established in one or more indentures supplemental to this
Indenture, no service charge shall be made for any exchange or registration of transfer of Securities, or issue of new Securities in case
of partial redemption of any series, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge
in relation thereto, other than exchanges pursuant to <U>Section&nbsp;2.06</U>, <U>Section&nbsp;3.03(b)</U>&nbsp;and <U>Section&nbsp;9.04</U>
not involving any transfer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;The Company shall not be required (i)&nbsp;to issue, exchange
or register the transfer of any Securities during a period beginning at the opening of business 15 days before the day of the mailing
of a notice of redemption of less than all the Outstanding Securities of the same series and ending at the close of business on the day
of such mailing, nor (ii)&nbsp;to register the transfer of or exchange any Securities of any series or portions thereof called for redemption,
other than the unredeemed portion of any such Securities being redeemed in part. The provisions of this <U>Section&nbsp;2.05</U> are,
with respect to any Global Security, subject to <U>Section&nbsp;2.11</U> hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Trustee shall have no obligation or duty to monitor, determine
or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any
transfer of any interest in any Security (including any transfers between or among depositary participants or beneficial owners of interests
in any Global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly required
by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance
as to form with the express requirements hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Neither the Trustee nor any Agent shall have any responsibility or
liability for any actions taken or not taken by the Depositary.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.06 <U>Temporary Securities</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pending the preparation of definitive Securities of any series, the
Company may execute, and the Trustee shall, upon receipt of a Company Order, authenticate and deliver, temporary Securities (printed,
lithographed or typewritten) of any authorized denomination. Such temporary Securities shall be substantially in the form of the definitive
Securities in lieu of which they are issued, but with such omissions, insertions and variations as may be appropriate for temporary Securities,
all as may be determined by the Company. Every temporary Security of any series shall be executed by the Company and be authenticated
by the Trustee upon the same conditions and in substantially the same manner, and with like effect, as the definitive Securities of such
series. Without unnecessary delay the Company will execute and will furnish definitive Securities of such series and thereupon any or
all temporary Securities of such series may be surrendered in exchange therefor (without charge to the holders), at the office or agency
of the Company designated for the purpose, and the Trustee shall, upon receipt of a Company Order, authenticate and such office or agency
shall deliver in exchange for such temporary Securities an equal aggregate principal amount of definitive Securities of such series, unless
the Company advises the Trustee to the effect that definitive Securities need not be executed and furnished until further notice from
the Company. Until so exchanged, the temporary Securities of such series shall be entitled to the same benefits under this Indenture as
definitive Securities of such series authenticated and delivered hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.07 <U>Mutilated, Destroyed, Lost or Stolen Securities</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In case any temporary or definitive Security shall become mutilated
or be destroyed, lost or stolen, the Company (subject to the next succeeding sentence) shall execute, and upon receipt of a Company Order
the Trustee (subject as aforesaid) shall authenticate and deliver, a new Security of the same series, bearing a number not contemporaneously
outstanding, in exchange and substitution for the mutilated Security, or in lieu of and in substitution for the Security so destroyed,
lost or stolen. In every case the applicant for a substituted Security shall furnish to the Company and the Trustee such security or indemnity
as may be required by them to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also furnish
to the Company and the Trustee evidence to their satisfaction of the destruction, loss or theft of the applicant&rsquo;s Security and
of the ownership thereof. The Trustee may authenticate any such substituted Security and deliver the same upon receipt of a Company Order.
Upon the issuance of any substituted Security, the Company may require the payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In case any Security that has or is about to become due and payable,
whether upon maturity of the Securities of a series or upon declaration or otherwise shall become mutilated or be destroyed, lost or stolen,
the Company may, instead of issuing a substitute Security, pay or authorize the payment of the same (without surrender thereof except
in the case of a mutilated Security) if the applicant for such payment shall furnish to the Company and the Trustee such security or indemnity
as they may require to save them harmless, and, in case of destruction, loss or theft, evidence to the satisfaction of the Company and
the Trustee of the destruction, loss or theft of such Security and of the ownership thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Every replacement Security issued pursuant to the provisions of this
Section&nbsp;shall constitute an additional contractual obligation of the Company whether or not the mutilated, destroyed, lost or stolen
Security shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally
and proportionately with any and all other Securities of the same series duly issued hereunder. All Securities shall be held and owned
upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, destroyed,
lost or stolen Securities, and shall preclude (to the extent lawful) any and all other rights or remedies, notwithstanding any law or
statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments or other securities
without their surrender.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.08 <U>Cancellation</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All Securities surrendered for the purpose of payment, redemption,
exchange or registration of transfer shall, if surrendered to the Company or any paying agent, be delivered to the Trustee for cancellation,
or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except as expressly required
or permitted by any of the provisions of this Indenture. On written request of the Company at the time of such surrender, the Trustee
shall deliver to the Company evidence of cancellation for such canceled Securities held by the Trustee. The Trustee shall cancel and dispose
of canceled Securities in accordance with its standard procedures. If the Company shall otherwise acquire any of the Securities, however,
such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until
the same are delivered to the Trustee for cancellation.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.09 <U>Benefits of Indenture</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nothing in this Indenture or in the Securities, express or implied,
shall give or be construed to give to any Person, other than the parties hereto and the holders of the Securities any legal or equitable
right, remedy or claim under or in respect of this Indenture, or under any covenant, condition or provision herein contained; all such
covenants, conditions and provisions being for the sole benefit of the parties hereto and of the holders of the Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.10 <U>Authenticating Agent</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">So long as any of the Securities of any series remain Outstanding there
may be an Authenticating Agent for any or all such series of Securities which the Trustee shall have the right to appoint. Said Authenticating
Agent shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon exchange, transfer or
partial redemption thereof, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and
obligatory for all purposes as if authenticated by the Trustee hereunder. All references in this Indenture to the authentication of Securities
by the Trustee shall be deemed to include authentication by an Authenticating Agent for such series. Each Authenticating Agent shall be
acceptable to the Company and shall be a corporation that has a combined capital and surplus, as most recently reported or determined
by it, sufficient under the laws of any jurisdiction under which it is organized or in which it is doing business to conduct a trust business,
and that is otherwise authorized under such laws to conduct such business and is subject to supervision or examination by federal or state
authorities. If at any time any Authenticating Agent shall cease to be eligible in accordance with these provisions, it shall resign immediately.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any Authenticating Agent may at any time resign by giving written notice
of resignation to the Trustee and to the Company. The Trustee may at any time (and upon request by the Company shall) terminate the agency
of any Authenticating Agent by giving written notice of termination to such Authenticating Agent and to the Company. Upon resignation,
termination or cessation of eligibility of any Authenticating Agent, the Trustee may appoint an eligible successor Authenticating Agent
acceptable to the Company. Any successor Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested with
all the rights, powers and duties of its predecessor hereunder as if originally named as an Authenticating Agent pursuant hereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.11 <U>Global Securities</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;If the Company shall establish pursuant to <U>Section&nbsp;2.01</U>
that the Securities of a particular series are to be issued as a Global Security, then the Company shall execute and the Trustee shall,
in accordance with <U>Section&nbsp;2.04</U>, authenticate and deliver, a Global Security that (i)&nbsp;shall represent, and shall be denominated
in an amount equal to the aggregate principal amount of, all of the Outstanding Securities of such series, (ii)&nbsp;shall be registered
in the name of the Depositary or its nominee, (iii)&nbsp;shall be delivered by the Trustee to the Depositary or held by it, pursuant to
the Depositary&rsquo;s instruction and (iv)&nbsp;shall bear a legend substantially to the following effect: &ldquo;Except as otherwise
provided in <U>Section&nbsp;2.11</U> of the Indenture, this Security may be transferred, in whole but not in part, only to another nominee
of the Depositary or to a successor Depositary or to a nominee of such successor Depositary.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;Notwithstanding the provisions of <U>Section&nbsp;2.05</U>,
the Global Security of a series may be transferred, in whole but not in part and in the manner provided in <U>Section&nbsp;2.05</U>, only
to another nominee of the Depositary for such series, or to a successor Depositary for such series selected or approved by the Company
or to a nominee of such successor Depositary.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;If at any time the Depositary for a series of the Securities
notifies the Company that it is unwilling or unable to continue as Depositary for such series or if at any time the Depositary for such
series shall no longer be registered or in good standing under the Exchange Act, or other applicable statute or regulation, and a successor
Depositary for such series is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such
condition, as the case may be, or if an Event of Default has occurred and is continuing and the Company has received a request from the
Depositary or from the Trustee, this <U>Section&nbsp;2.11</U> shall no longer be applicable to the Securities of such series and the Company
will execute, and subject to <U>Section&nbsp;2.04</U>, the Trustee will authenticate and deliver the Securities of such series in definitive
registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the
Global Security of such series in exchange for such Global Security. In addition, the Company may at any time determine that the Securities
of any series shall no longer be represented by a Global Security and that the provisions of this <U>Section&nbsp;2.11</U> shall no longer
apply to the Securities of such series. In such event the Company will execute and, subject to <U>Section&nbsp;2.04</U>, the Trustee,
upon receipt of an Officer&rsquo;s Certificate and a Company Order evidencing such determination by the Company, will authenticate and
deliver the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate
principal amount equal to the principal amount of the Global Security of such series in exchange for such Global Security. Upon the exchange
of the Global Security for such Securities in definitive registered form without coupons, in authorized denominations, the Global Security
shall be canceled by the Trustee. Such Securities in definitive registered form issued in exchange for the Global Security pursuant to
this <U>Section&nbsp;2.11(c)</U>&nbsp;shall be registered in such names and in such authorized denominations as the Depositary, pursuant
to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee in writing. The Trustee shall deliver
such Securities to the Depositary for delivery to the Persons in whose names such Securities are so registered.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;3.01 <U>Redemption</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company may redeem the Securities of any series issued hereunder
on and after the dates and in accordance with the terms established for such series pursuant to <U>Section&nbsp;2.01</U> hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;3.02 <U>Notice of Redemption</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;In case the Company shall desire to exercise such right to
redeem all or, as the case may be, a portion of the Securities of any series in accordance with any right the Company reserved for itself
to do so pursuant to <U>Section&nbsp;2.01</U> hereof, the Company shall, or shall cause the Trustee (upon 5 Business Days written notice,
unless a shorter period shall be satisfactory to the Trustee) to, give notice of such redemption to holders of the Securities of such
series to be redeemed by mailing, electronically or by first class postage prepaid mail, a notice of such redemption not less than 15
days and not more than 90 days, except that redemption notices may be sent more than 90 days prior to the redemption date if the notice
is issued in connection with a defeasance of the Securities or a satisfaction and discharge, before the date fixed for redemption of that
series to such holders (with a copy to the Trustee) at their last addresses as they shall appear upon the Security Register, unless a
shorter period is specified in the Securities to be redeemed. Any notice that is mailed in the manner herein provided shall be conclusively
presumed to have been duly given, whether or not the registered holder receives the notice. In any case, failure duly to give such notice
to the holder of any Security of any series designated for redemption in whole or in part, or any defect in the notice, shall not affect
the validity of the proceedings for the redemption of any other Securities of such series or any other series. In the case of any redemption
of Securities prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this
Indenture, the Company shall furnish the Trustee with an Officer&rsquo;s Certificate evidencing compliance with any such restriction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each such notice of redemption shall specify the date fixed for redemption,
if applicable, any record date with respect to such redemption and the redemption price at which Securities of that series are to be redeemed,
and shall state that payment of the redemption price of such Securities to be redeemed will be made at the office or agency of the Company,
upon presentation and surrender of such Securities, that interest accrued to the date fixed for redemption will be paid as specified in
said notice, that from and after said date interest will cease to accrue and that the redemption is from a sinking fund, if such is the
case. If less than all the Securities of a series are to be redeemed, the notice to the holders of Securities of that series to be redeemed
in part shall specify the particular Securities to be so redeemed.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In case any Security is to be redeemed in part only, the notice that
relates to such Security shall state the portion of the principal amount thereof to be redeemed, and shall state that on and after the
redemption date, upon surrender of such Security, a new Security or Securities of such series in principal amount equal to the unredeemed
portion thereof will be issued.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;If less than all the Securities of a series are to be redeemed,
the Company shall give the Trustee at least 20 days&rsquo; notice (unless a shorter notice shall be satisfactory to the Trustee) in advance
of the date fixed for redemption as to the aggregate principal amount of Securities of the series to be redeemed, and thereupon the Trustee
shall select, by lot or in such other manner as it shall deem appropriate and fair in its discretion (and subject to the applicable procedures
of the Depositary) and that may provide for the selection of a portion or portions (equal to one thousand U.S. dollars ($1,000) or any
integral multiple thereof) of the principal amount of such Securities of a denomination larger than $1,000, the Securities to be redeemed
and shall thereafter promptly notify the Company in writing of the numbers of the Securities to be redeemed, in whole or in part. The
Company may, if and whenever it shall so elect, by delivery of instructions signed on its behalf by an Officer, instruct the Trustee or
any paying agent to call all or any part of the Securities of a particular series for redemption and to send notice of redemption in the
manner set forth in this Section, such notice to be in the name and at the expense of the Company. In any case in which notice of redemption
is to be sent by the Trustee or any such paying agent, the Company shall deliver or cause to be delivered to, or permit to remain with,
the Trustee or such paying agent, as the case may be, such Security Register, transfer books or other records, or suitable copies or extracts
therefrom, sufficient to enable the Trustee or such paying agent to give any notice by mail that may be required under the provisions
of this Section.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;3.03 <U>Payment Upon Redemption</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;If the giving of notice of redemption shall have been completed
as above provided, the Securities or portions of Securities of the series to be redeemed specified in such notice shall become due and
payable on the date and at the place stated in such notice at the applicable redemption price, together with interest accrued to the date
fixed for redemption and interest on such Securities or portions of Securities shall cease to accrue on and after the date fixed for redemption,
unless the Company shall default in the payment of such redemption price and accrued interest with respect to any such Security or portion
thereof. On presentation and surrender of such Securities on or after the date fixed for redemption at the place of payment specified
in the notice, said Securities shall be paid and redeemed at the applicable redemption price for such series, together with interest accrued
thereon to the date fixed for redemption (but if the date fixed for redemption is an interest payment date, the interest installment payable
on such date shall be payable to the registered holder at the close of business on the applicable record date pursuant to <U>Section&nbsp;2.03</U>).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;Upon presentation of any physical Security of such series
that is to be redeemed in part only, the Company shall execute and the Trustee shall authenticate and the office or agency where the Security
is presented shall deliver to the holder thereof, at the expense of the Company, a new Security of the same series of authorized denominations
in principal amount equal to the unredeemed portion of the Security so presented.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;3.04 <U>Sinking Fund</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The provisions of <U>Sections 3.04</U>, <U>3.05</U> and <U>3.06</U>
shall be applicable to any sinking fund for the retirement of Securities of a series, except as otherwise specified as contemplated by
Section&nbsp;2.01 for Securities of such series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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 sinking fund payment may be subject to reduction as provided
in <U>Section&nbsp;3.05</U>. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for
by the terms of Securities of such series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;3.05 <U>Satisfaction of Sinking Fund Payments with Securities</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company (i)&nbsp;may deliver Outstanding Securities of a series
and (ii)&nbsp;may apply as a credit Securities of a series that have been redeemed either at the election of the Company pursuant to the
terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities,
in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series required to
be made pursuant to the terms of such Securities as provided for by the terms of such series, <I>provided</I> that such Securities have
not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the redemption price
specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be
reduced accordingly.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;3.06 <U>Redemption of Securities for Sinking Fund</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not less than 45 days prior to each sinking fund payment date for any
series of Securities (unless a shorter period shall be satisfactory to the Trustee), the Company will deliver to the Trustee an Officer&rsquo;s
Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of the series, the portion
thereof, if any, that is to be satisfied by delivering and crediting Securities of that series pursuant to <U>Section&nbsp;3.05</U> and
the basis for such credit and will, together with such Officer&rsquo;s Certificate, deliver to the Trustee any Securities to be so delivered.
Not less than 30 days before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking
fund payment date in the manner specified in <U>Section&nbsp;3.02</U> and cause notice of the redemption thereof to be given in the name
of and at the expense of the Company in the manner provided in <U>Section&nbsp;3.02</U>. Such notice having been duly given, the redemption
of such Securities shall be made upon the terms and in the manner stated in <U>Section&nbsp;3.03</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;4</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;4.01 <U>Payment of Principal, Premium and Interest</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company will duly and punctually pay or cause to be paid the principal
of (and premium, if any) and interest on the Securities of that series at the time and place and in the manner provided herein and established
with respect to such Securities. Payments of principal on the physical Securities may be made at the time provided herein and established
with respect to such Securities by U.S. dollar check drawn on and mailed to the address of the Securityholder entitled thereto as such
address shall appear in the Security Register, or U.S. dollar wire transfer to, a U.S. dollar account if such Securityholder shall have
furnished wire instructions to the Trustee no later than 15 days prior to the relevant payment date. Payments of interest on the Securities
may be made at the time provided herein and established with respect to such Securities by U.S. dollar check mailed to the address of
the Securityholder entitled thereto as such address shall appear in the Security Register, or U.S. dollar wire transfer to an account
in the United States if such Securityholder shall have furnished wire instructions in writing to the Security Registrar and the Trustee
no later than 15 days prior to the relevant payment date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;4.02 <U>Maintenance of Office or Agency</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">So long as any series of the Securities remain Outstanding, the Company
agrees to maintain an office or agency with respect to each such series and at such other location or locations as may be designated as
provided in this <U>Section&nbsp;4.02</U>, where (i)&nbsp;Securities of that series may be presented for payment, (ii)&nbsp;Securities
of that series may be presented as herein above authorized for registration of transfer and exchange, and (iii)&nbsp;notices in respect
of the Securities of that series and this Indenture may be given or made, such designation to continue with respect to such office or
agency until the Company shall, by written notice in an Officer&rsquo;s Certificate and delivered to the Trustee, designate some other
office or agency for such purposes or any of them. If at any time the Company shall fail to maintain any such required office or agency
or shall fail to furnish the Trustee with the address thereof, such presentations and notices may be made at the Corporate Trust Office
of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations and notices; provided, however,
the Trustee shall not be considered an agent of the Company for service of process.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;4.03 <U>Paying Agents</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;If the Company shall appoint one or more paying agents for
all or any series of the Securities, other than the Trustee, the Company will cause each such paying agent to execute and deliver to the
Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section:</P>

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;that it will hold all sums held by it as such agent for the
payment of the principal of (and premium, if any) or interest on the Securities of that series (whether such sums have been paid to it
by the Company or by any other obligor of such Securities) in trust for the benefit of the Persons entitled thereto;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2)&nbsp;that it will give the Trustee notice of any failure by the
Company (or by any other obligor of such Securities) to make any payment of the principal of (and premium, if any) or interest on the
Securities of that series when the same shall be due and payable;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3)&nbsp;that it will, at any time during the continuance of any failure
referred to in the preceding paragraph (a)(2)&nbsp;above, upon the written request of the Trustee, forthwith pay to the Trustee all sums
so held in trust by such paying agent;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(4)&nbsp;that upon any receivership, insolvency, liquidation, bankruptcy,
reorganization, readjustment, arrangement, composition or judicial proceedings affecting the Company, the Trustee will automatically be
the Paying Agent; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(5)&nbsp;that it will perform all other duties of paying agent as set
forth in this Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;If the Company shall act as its own paying agent with respect
to any series of the Securities, it will on or before each due date of the principal of (and premium, if any) or interest on Securities
of that series, set aside, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay such principal
(and premium, if any) or interest so becoming due on Securities of that series until such sums shall be paid to such Persons or otherwise
disposed of as herein provided and will promptly notify the Trustee of such action, or any failure (by it or any other obligor on such
Securities) to take such action. Whenever the Company shall have one or more paying agents for any series of Securities, it will, prior
to each due date of the principal of (and premium, if any) or interest on any Securities of that series, deposit with the paying agent
a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit
of the Persons entitled to such principal, premium or interest, and (unless such paying agent is the Trustee) the Company will promptly
notify the Trustee of this action or failure so to act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;Notwithstanding anything in this Section&nbsp;to the contrary,
(i)&nbsp;the agreement to hold sums in trust as provided in this Section&nbsp;is subject to the provisions of <U>Section&nbsp;11.05</U>,
and (ii)&nbsp;the Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other
purpose, pay, or direct any paying agent to pay, to the Trustee all sums held in trust by the Company or such paying agent, such sums
to be held by the Trustee upon the same terms and conditions as those upon which such sums were held by the Company or such paying agent;
and, upon such payment by the Company or any paying agent to the Trustee, the Company or such paying agent shall be released from all
further liability with respect to such money.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;The Company initially appoints the Trustee at its Corporate
Trust Office as its paying agent with respect to the Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;4.04 <U>Appointment to Fill Vacancy in Office of Trustee</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company, whenever necessary to avoid or fill a vacancy in the office
of Trustee, will appoint, in the manner provided in <U>Section&nbsp;7.10</U>, a Trustee, so that there shall at all times be a Trustee
hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;4.05 <U>Compliance with Consolidation Provisions</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company will not, while any of the Securities remain Outstanding,
consolidate with or merge into any other Person, in either case where the Company is not the survivor of such transaction, or sell or
convey all or substantially all of its property to any other Person unless the provisions of <U>Article&nbsp;10</U> hereof are complied
with.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;5</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITYHOLDERS&rsquo; LISTS AND REPORTS BY
THE COMPANY AND THE TRUSTEE</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Section&nbsp;5.01</U>&nbsp;<U>Company to Furnish Trustee Names
and Addresses of Securityholders.</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company will furnish or cause to be furnished to the Trustee (a)&nbsp;within
5 days after each regular record date (as defined in <U>Section&nbsp;2.03</U>) a list, in such form as the Trustee may reasonably require,
of the names and addresses of the holders of each series of Securities as of such regular record date, <I>provided</I> that the Company
shall not be obligated to furnish or cause to be furnished such list at any time that the list shall not differ in any respect from the
most recent list furnished to the Trustee by the Company and (b)&nbsp;at such other times as the Trustee may request in writing within
30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior
to the time such list is furnished; <I>provided</I>, <I>however</I>, that, in either case, no such list need be furnished for any series
for which the Trustee shall be the Security Registrar.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Section&nbsp;5.02</U>&nbsp;<U>Preservation Of Information; Communications
With Securityholders.</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;The Trustee shall preserve, in as current a form as is reasonably
practicable, all information as to the names and addresses of the holders of Securities contained in the most recent list furnished to
it as provided in <U>Section&nbsp;5.01</U> and as to the names and addresses of holders of Securities received by the Trustee in its capacity
as Security Registrar (if acting in such capacity).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;The Trustee may destroy any list furnished to it as provided
in <U>Section&nbsp;5.01</U> upon receipt of a new list so furnished.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;Securityholders may communicate as provided in Section&nbsp;312(b)&nbsp;of
the Trust Indenture Act with other Securityholders with respect to their rights under this Indenture or under the Securities, and, in
connection with any such communications, the Trustee shall satisfy its obligations under Section&nbsp;312(b)&nbsp;of the Trust Indenture
Act in accordance with the provisions of Section&nbsp;312(b)&nbsp;of the Trust Indenture Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;5.03 <U>Reports by the Company</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;The Company covenants and agrees to provide (which delivery
may be via electronic mail) to the Trustee within 30 days, after the Company files the same with the Commission, copies of the annual
reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may
from time to time by rules&nbsp;and regulations prescribe) that the Company is required to file with the Commission pursuant to Section&nbsp;13
or Section&nbsp;15(d)&nbsp;of the Exchange Act; <I>provided</I>, <I>however</I>, the Company shall not be required to deliver to the Trustee
any materials for which the Company has sought and received confidential treatment by the Commission; and <I>provided further</I>, that
so long as such filings by the Company are available on the Commission&rsquo;s Electronic Data Gathering, Analysis and Retrieval System
(EDGAR), or Interactive Data Electronic Applications (IDEA), or any successor system, such filings shall be deemed to have been filed
with the Trustee for purposes hereof without any further action required by the Company; <I>provided</I> that an electronic link to such
filing, together with an electronic notice of such filing have been sent to the Trustee it being understood that the Trustee shall have
no responsibility to determine whether such filings have been made. For the avoidance of doubt, a failure by the Company to file annual
reports, information and other reports with the Commission within the time period prescribed thereof by the Commission shall not be deemed
a breach of this <U>Section&nbsp;5.03</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;Delivery of reports, information and documents to the Trustee
under <U>Section&nbsp;5.03</U> is for informational purposes only and the information and the Trustee&rsquo;s receipt of the foregoing
shall not constitute constructive notice of any information contained therein, or determinable from information contained therein including
the Company&rsquo;s compliance with any of their covenants thereunder (as to which the Trustee is entitled to rely exclusively on an Officer&rsquo;s
Certificate).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;5.04 <U>Reports by the Trustee</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;If required by Section&nbsp;313(a)&nbsp;of the Trust Indenture
Act, the Trustee, within sixty (60) days after each May&nbsp;15, commencing the calendar year after the year in which the first Securities
are issued hereunder, shall transmit by mail, first class postage prepaid, to the Securityholders, as their names and addresses appear
upon the Security Register, a brief report dated as of such May&nbsp;15, which complies with Section&nbsp;313(a)&nbsp;of the Trust Indenture
Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;The Trustee shall comply with Section&nbsp;313(b)&nbsp;and
313(c)&nbsp;of the Trust Indenture Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;A copy of each such report shall, at the time of such transmission
to Securityholders, be filed by the Trustee with the Company, with each securities exchange upon which any Securities are listed (if so
listed) and also with the Commission. The Company agrees to notify the Trustee in writing when any Securities become listed on any securities
exchange or of any delisting thereof.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;6</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS
ON EVENT OF DEFAULT</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;6.01 <U>Events of Default</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;Whenever used herein with respect to Securities of a particular
series, &ldquo;<B>Event of Default</B>&rdquo; means any one or more of the following events that has occurred and is continuing:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;the Company defaults in the payment of any installment of
interest upon any of the Securities of that series, as and when the same shall become due and payable, and such default continues for
a period of 90 days; <I>provided</I>, <I>however</I>, that a valid extension of an interest payment period by the Company in accordance
with the terms of any indenture supplemental hereto shall not constitute a default in the payment of interest for this purpose;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2)&nbsp;the Company defaults in the payment of the principal of (or
premium, if any, on) any of the Securities of that series as and when the same shall become due and payable whether at maturity, upon
redemption, by declaration or otherwise, or in any payment required by any sinking or analogous fund established with respect to that
series; <I>provided</I>, <I>however</I>, that a valid extension of the maturity of such Securities in accordance with the terms of any
indenture supplemental hereto shall not constitute a default in the payment of principal or premium, if any;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3)&nbsp;the Company fails to observe or perform any other of its covenants
or agreements with respect to that series contained in this Indenture or otherwise established with respect to that series of Securities
pursuant to <U>Section&nbsp;2.01</U> hereof (other than a covenant or agreement that has been expressly included in this Indenture solely
for the benefit of one or more series of Securities other than such series) for a period of 90 days after the date on which written notice
of such failure, requiring the same to be remedied and stating that such notice is a &ldquo;<B>Notice of Default</B>&rdquo; hereunder,
shall have been given to the Company by the Trustee or to the Company and the Trustee by the holders of at least 25% in principal amount
of the Securities of that series at the time Outstanding;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(4)&nbsp;the Company pursuant to or within the meaning of any Bankruptcy
Law (i)&nbsp;commences a voluntary case, (ii)&nbsp;consents to the entry of an order for relief against it in an involuntary case, (iii)&nbsp;consents
to the appointment of a Custodian of it or for all or substantially all of its property or (iv)&nbsp;makes a general assignment for the
benefit of its creditors; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(5)&nbsp;a court of competent jurisdiction enters an order under any
Bankruptcy Law that (i)&nbsp;is for relief against the Company in an involuntary case, (ii)&nbsp;appoints a Custodian of the Company for
all or substantially all of its property or (iii)&nbsp;orders the liquidation of the Company, and the order or decree remains unstayed
and in effect for 90 days.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;In each and every such case (other than an Event of Default
specified in clause (4)&nbsp;or clause (5)&nbsp;above), unless the principal of all the Securities of that series shall have already become
due and payable, either the Trustee or the holders of not less than 25% in aggregate principal amount of the Securities of that series
then Outstanding hereunder, by notice in writing to the Company (and to the Trustee if given by such Securityholders), may declare the
principal of (and premium, if any, on) and accrued and unpaid interest on all the Securities of that series to be due and payable immediately,
and upon any such declaration the same shall become and shall be immediately due and payable. If an Event of Default specified in clause
(4)&nbsp;or clause (5)&nbsp;above occurs, the principal of and accrued and unpaid interest on all the Securities of that series shall
automatically be immediately due and payable without any declaration or other act on the part of the Trustee or the holders of the Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;At any time after the principal of (and premium, if any, on)
and accrued and unpaid interest on the Securities of that series shall have been so declared due and payable, and before any judgment
or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the holders of a majority in
aggregate principal amount of the Securities of that series then Outstanding hereunder, by written notice to the Company and the Trustee,
may rescind and annul such declaration and its consequences if: (i)&nbsp;the Company has paid or deposited with the Trustee a sum sufficient
to pay all matured installments of interest upon all the Securities of that series and the principal of (and premium, if any, on) any
and all Securities of that series that shall have become due otherwise than by acceleration (with interest upon such principal and premium,
if any, and, to the extent that such payment is enforceable under applicable law, upon overdue installments of interest, at the rate per
annum expressed in the Securities of that series to the date of such payment or deposit) and the amount payable to the Trustee under <U>Section&nbsp;7.06</U>,
and (ii)&nbsp;any and all Events of Default under the Indenture with respect to such series, other than the nonpayment of principal on
(and premium, if any, on) and accrued and unpaid interest on Securities of that series that shall not have become due by their terms,
shall have been remedied or waived as provided in <U>Section&nbsp;6.06</U>.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">No such rescission and annulment shall extend to or shall affect any
subsequent default or impair any right consequent thereon.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;In case the Trustee shall have proceeded to enforce any right
with respect to Securities of that series under this Indenture and such proceedings shall have been discontinued or abandoned because
of such rescission or annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such
case, subject to any determination in such proceedings, the Company and the Trustee shall be restored respectively to their former positions
and rights hereunder, and all rights, remedies and powers of the Company and the Trustee shall continue as though no such proceedings
had been taken.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;6.02 <U>Collection of Indebtedness and Suits for Enforcement
by Trustee</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;The Company covenants that if an Event of Default described
in Section&nbsp;6.01(a)&nbsp;or 6.01(b)&nbsp;shall have occurred with respect to the Securities of any series, the Company will pay to
the Trustee, for the benefit of the holders of the Securities of that series, the whole amount that then shall have been become due and
payable on all such Securities for principal (and premium, if any) or interest, or both, as the case may be, with interest upon the overdue
principal (and premium, if any) and (to the extent that payment of such interest is enforceable under applicable law) upon overdue installments
of interest at the rate per annum expressed in the Securities of that series; and, in addition thereto, such further amount as shall be
sufficient to cover the costs and expenses of collection, and the amount payable to the Trustee under <U>Section&nbsp;7.06</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;If the Company shall fail to pay such amounts forthwith upon
such demand, the Trustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action
or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceeding to
judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon the Securities of
that series and collect the moneys adjudged or decreed to be payable in the manner provided by law or equity out of the property of the
Company or other obligor upon the Securities of that series, wherever situated.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;In case of any receivership, insolvency, liquidation, bankruptcy,
reorganization, readjustment, arrangement, composition or judicial proceedings affecting the Company, or its creditors or property, irrespective
of whether the Trustee shall have made any demand pursuant to this Section&nbsp;6.02, the Trustee shall have power to intervene in such
proceedings and take any action therein that may be permitted by the court and shall (except as may be otherwise provided by law) be entitled
to file such proofs of claim and other papers and documents as may be necessary or advisable in order to have the claims of the Trustee
and of the holders of Securities of such series allowed for the entire amount due and payable by the Company under the Indenture at the
date of institution of such proceedings and for any additional amount that may become due and payable by the Company after such date,
and to collect and receive any moneys or other property payable or deliverable on any such claim, and to distribute the same after the
deduction of the amount payable to the Trustee under <U>Section&nbsp;7.06</U>; and any receiver, assignee or trustee in bankruptcy or
reorganization is hereby authorized by each of the holders of Securities of such series to make such payments to the Trustee, and, in
the event that the Trustee shall consent to the making of such payments directly to such Securityholders, to pay to the Trustee any amount
due it under <U>Section&nbsp;7.06</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;All rights of action and of asserting claims under this Indenture,
or under any of the terms established with respect to Securities of that series, may be enforced by the Trustee without the possession
of any of such Securities, or the production thereof at any trial or other proceeding relative thereto, and any such suit or proceeding
instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision
for payment to the Trustee of any amounts due under <U>Section&nbsp;7.06</U>, be for the ratable benefit of the holders of the Securities
of such series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In case of an Event of Default hereunder, the Trustee may in its discretion
proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee shall
deem most effectual to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise, whether for the
specific enforcement of any covenant or agreement contained in the Indenture or in aid of the exercise of any power granted in this Indenture,
or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nothing contained herein shall be deemed to authorize the Trustee to
authorize or consent to or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition
affecting the Securities of that series or the rights of any holder thereof or to authorize the Trustee to vote in respect of the claim
of any Securityholder in any such proceeding.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;6.03 <U>Application of Moneys Collected</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any moneys or properties collected by the Trustee pursuant to this
Article&nbsp;with respect to a particular series of Securities shall be applied in the following order, at the date or dates fixed by
the Trustee and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation
of the Securities of that series, and notation thereon of the payment, if only partially paid, and upon surrender thereof if fully paid:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>FIRST</B>: To the payment of reasonable costs and expenses of collection
and of all amounts payable to the Trustee, its agents and attorneys under this Indenture;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECOND</B>: To the payment of the amounts then due and unpaid upon
Securities of such series for principal (and premium, if any) and interest, in respect of which or for the benefit of which such money
has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for
principal (and premium, if any) and interest, respectively; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THIRD</B>: To the payment of the remainder, if any, to the Company
or any other Person lawfully entitled thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;6.04 <U>Limitation on Suits</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">No holder of any Security of any series shall have any right by virtue
or by availing of any provision of this Indenture to institute any suit, action or proceeding in equity or at law upon or under or with
respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless (i)&nbsp;such holder
previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof with respect to the Securities
of such series specifying such Event of Default, as hereinbefore provided; (ii)&nbsp;the holders of not less than 25% in aggregate principal
amount of the Securities of such series then Outstanding shall have made written request upon the Trustee to institute such action, suit
or proceeding in its own name as Trustee hereunder; (iii)&nbsp;such holder or holders shall have offered to the Trustee such indemnity
reasonably satisfactory to it as it may require against the costs, expenses, claims and liabilities to be incurred therein or thereby;
(iv)&nbsp;the Trustee for 90 days after its receipt of such notice, request and offer of indemnity, shall have failed to institute any
such action, suit or proceeding and (v)&nbsp;during such 90 day period, the holders of a majority in principal amount of the Securities
of that series do not give the Trustee a direction inconsistent with the request.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Notwithstanding anything contained herein to the contrary or any other
provisions of this Indenture, the right of any holder of any Security to receive payment of the principal of (and premium, if any) and
interest on such Security, as therein provided, on or after the respective due dates expressed in such Security (or in the case of redemption,
on the redemption date), or to institute suit for the enforcement of any such payment on or after such respective dates or redemption
date, shall not be impaired or affected without the consent of such holder and by accepting a Security hereunder it is expressly understood,
intended and covenanted by the taker and holder of every Security of such series with every other such taker and holder and the Trustee,
that no one or more holders of Securities of such series shall have any right in any manner whatsoever by virtue or by availing of any
provision of this Indenture to affect, disturb or prejudice the rights of the holders of any other of such Securities, or to obtain or
seek to obtain priority over or preference to any other such holder, or to enforce any right under this Indenture (it being understood
that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to
such holders), except in the manner herein provided and for the equal, ratable and common benefit of all holders of Securities of such
series. For the protection and enforcement of the provisions of this Section, each and every Securityholder and the Trustee shall be entitled
to such relief as can be given either at law or in equity.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;6.05 <U>Rights and Remedies Cumulative; Delay or Omission
Not Waiver</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;Except as otherwise provided in <U>Section&nbsp;2.07</U>,
all powers and remedies given by this Article&nbsp;to the Trustee or to the Securityholders shall, to the extent permitted by law, be
deemed cumulative and not exclusive of any other powers and remedies available to the Trustee or the holders of the Securities, by judicial
proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this Indenture or otherwise
established with respect to such Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;No delay or omission of the Trustee or of any holder of any
of the Securities to exercise any right or power accruing upon any Event of Default occurring and continuing as aforesaid shall impair
any such right or power, or shall be construed to be a waiver of any such default or an acquiescence therein; and, subject to the provisions
of <U>Section&nbsp;6.04</U>, every power and remedy given by this Article&nbsp;or by law to the Trustee or the Securityholders may be
exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Securityholders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;6.06 <U>Control by Securityholders</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The holders of a majority in aggregate principal amount of the Securities
of any series at the time Outstanding, determined in accordance with <U>Section&nbsp;8.04</U>, shall have the right to direct the time,
method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the
Trustee with respect to such series; <I>provided</I>, <I>however</I>, that such direction shall not be in conflict with any rule&nbsp;of
law or with this Indenture or subject the Trustee in its sole discretion to personal liability. The Trustee shall have the right to decline
to follow any such direction if the Trustee in good faith shall determine that the proceeding so directed, subject to the Trustee&rsquo;s
duties under the Trust Indenture Act, would involve the Trustee in personal liability or might be unduly prejudicial to the Securityholders
not involved in the proceeding. Prior to taking any action under this Indenture, the Trustee shall be entitled to indemnity or security
satisfactory to it against loss, liability or expense that may be caused by taking such action. The holders of a majority in aggregate
principal amount of the Securities of any series at the time Outstanding affected thereby, determined in accordance with <U>Section&nbsp;8.04</U>,
may on behalf of the holders of all of the Securities of such series waive any past default in the performance of any of the covenants
contained herein or established pursuant to <U>Section&nbsp;2.01</U> with respect to such series and its consequences, except a default
in the payment of the principal of, or premium, if any, or interest on, any of the Securities of that series as and when the same shall
become due by the terms of such Securities otherwise than by acceleration (unless such default has been cured and a sum sufficient to
pay all matured installments of interest and principal and any premium has been deposited with the Trustee (in accordance with <U>Section&nbsp;6.01(c)</U>).
Upon any such waiver, the default covered thereby shall be deemed to be cured for all purposes of this Indenture and the Company, the
Trustee and the holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively;
but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Section&nbsp;6.07 Undertaking to Pay Costs.</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All parties to this Indenture agree, and each holder of any Securities
by such holder&rsquo;s acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for
the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it
as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in
its discretion assess reasonable costs, including reasonable attorneys&rsquo; fees, against any party litigant in such suit, having due
regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section&nbsp;shall
not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder, or group of Securityholders, holding more
than 10% in aggregate principal amount of the Outstanding Securities of any series, or to any suit instituted by any Securityholder for
the enforcement of the payment of the principal of (or premium, if any) or interest on any Security of such series, on or after the respective
due dates expressed in such Security or established pursuant to this Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;7</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.01 <U>Certain Duties and Responsibilities of Trustee</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;The Trustee, prior to the occurrence of an Event of Default
with respect to the Securities of a series and after the curing of all Events of Default with respect to the Securities of that series
that may have occurred, shall undertake to perform with respect to the Securities of such series such duties and only such duties as are
specifically set forth in this Indenture, and no implied covenants shall be read into this Indenture against the Trustee. In case an Event
of Default with respect to the Securities of a series has occurred (that has not been cured or waived), the Trustee shall exercise with
respect to Securities of that series such of the rights and powers vested in it by this Indenture, and use the same degree of care and
skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person&rsquo;s own affairs.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;No provision of this Indenture shall be construed to relieve
the Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;prior to the occurrence of an Event of Default with respect
to the Securities of a series and after the curing or waiving of all such Events of Default with respect to that series that may have
occurred:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(A)&nbsp;the duties and obligations of the Trustee shall with respect
to the Securities of such series be determined solely by the express provisions of this Indenture, and the Trustee shall not be liable
with respect to the Securities of such series except for the performance of such duties and obligations as are specifically set forth
in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(B)&nbsp;in the absence of willful misconduct on the part of the Trustee,
the Trustee may with respect to the Securities of such series conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the requirements of this
Indenture; but in the case of any such certificates or opinions that by any provision hereof are specifically required to be furnished
to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of
this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2)&nbsp;the Trustee shall not be liable 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;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3)&nbsp;the Trustee shall not be liable with respect to any action
taken or omitted to be taken by it in good faith in accordance with the direction of the holders of not less than a majority in principal
amount of the Securities of any series at the time Outstanding relating to the time, method and place of conducting any proceeding for
any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee under this Indenture with respect to
the Securities of that series; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(4)&nbsp;none of the provisions contained in this Indenture shall require
the Trustee to expend or risk its own funds or otherwise incur personal or financial liability in the performance of any of its duties
or in the exercise of any of its rights or powers if there is reasonable ground for believing that the repayment of such funds or liability
is not reasonably assured to it under the terms of this Indenture or adequate indemnity against such risk is not reasonably assured to
it.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.02 <U>Certain Rights of Trustee</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Except as otherwise provided in <U>Section&nbsp;7.01</U>:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;The Trustee may rely and shall be protected in acting or refraining
from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond,
security or other paper or document or other evidence of indebtedness believed by it to be genuine and to have been signed or presented
by the proper party or parties. The Trustee need not investigate any fact or matter stated in the document. The Trustee shall receive
and retain financial reports and statements of the Company to the extent provided herein, but shall have no duty to review or analyze
such reports or statements to determine compliance with covenants or other obligations of the Company;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;Any request, direction, order or demand of the Company mentioned
herein shall be sufficiently evidenced by a Board Resolution or an instrument signed in the name of the Company by any authorized Officer
of the Company (unless other evidence in respect thereof is specifically prescribed herein);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;The Trustee may consult with counsel of its selection and
the advice of such counsel or, if requested, any Opinion of Counsel shall be full and complete authorization and protection in respect
of any action taken or suffered or omitted hereunder in good faith and in reliance thereon;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;The Trustee shall be under no obligation to exercise any of
the rights or powers vested in it by this Indenture at the request, order or direction of any of the Securityholders pursuant to the provisions
of this Indenture, unless such Securityholders shall have offered (and if requested, provided) to the Trustee security or indemnity satisfactory
to it against the costs, expenses, claims and liabilities that may be incurred therein or thereby;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(e)&nbsp;The Trustee shall not be liable for any action taken or omitted
to be taken by it in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by
this Indenture;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(f)&nbsp;The Trustee shall not be bound to make any investigation into
the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval,
bond, security, or other papers or documents or other evidence of indebtedness, unless requested in writing so to do by the holders of
not less than a majority in principal amount of the Outstanding Securities of the particular series affected thereby (determined as provided
in <U>Section&nbsp;8.04</U>); <I>provided</I>, <I>however</I>, that if the payment within a reasonable time to the Trustee of the costs,
expenses, claims or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not
reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require indemnity or
security satisfactory to it against such costs, expenses, claims or liabilities as a condition to so proceeding. The reasonable expense
of every such examination shall be paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon demand;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(g)&nbsp;The Trustee may execute any of the trusts or powers hereunder
or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any
misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(h)&nbsp;In no event shall the Trustee be responsible or liable for
any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond
its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances,
nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software
and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices
in the banking industry to resume performance as soon as practicable under the circumstances;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(i)&nbsp;In no event shall the Trustee be responsible or liable for
special, punitive, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective
of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(j)&nbsp;The permissive rights of the Trustee enumerated herein shall
not be construed as duties;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(l)&nbsp;The Trustee shall not be required to give any bond or surety
in respect of the performance of its powers and duties hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, the Trustee shall not be deemed to have knowledge of any
Default or Event of Default until a Responsible Officer of the Trustee shall have received written notification in the manner set forth
in this Indenture, and such notice references the Securities and this Indenture or a Responsible Officer of the Trustee shall have obtained
actual knowledge.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.03 <U>Trustee Not Responsible for Recitals or Issuance
or Securities</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;The recitals contained herein and in the Securities shall
be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;The Trustee makes no representations as to the validity or
sufficiency of this Indenture or of the Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;The Trustee shall not be accountable for the use or application
by the Company of any of the Securities or of the proceeds of such Securities, or for the use or application of any moneys paid over by
the Trustee in accordance with any provision of this Indenture or established pursuant to <U>Section&nbsp;2.01</U>, or for the use or
application of any moneys received by any paying agent other than the Trustee.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.04 <U>May&nbsp;Hold Securities</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Trustee or any paying agent or Security Registrar, in its individual
or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not Trustee, paying
agent or Security Registrar.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.05 <U>Moneys Held in Trust</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Subject to the provisions of <U>Section&nbsp;11.05</U>, all moneys
received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received,
but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest
on any moneys received by it hereunder except such as it may agree in writing with the Company to pay thereon.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.06 <U>Compensation and Reimbursement</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;The Company covenants and agrees to pay to the Trustee, and
the Trustee shall be entitled to, such compensation (which shall not be limited by any provision of law in regard to the compensation
of a trustee of an express trust) as the Company and the Trustee may from time to time agree in writing, for all services rendered by
it in the execution of the trusts hereby created and in the exercise and performance of any of the powers and duties hereunder of the
Trustee, and, except as otherwise expressly provided herein, the Company will pay or reimburse the Trustee upon its request for all reasonable
and documented expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Indenture
(including the reasonable and documented fees and the expenses and disbursements of its counsel and of all Persons not regularly in its
employ), except any such expense, disbursement or advance as may arise from its negligence or willful misconduct. The Company also covenants
to indemnify the Trustee (and its officers, agents, directors and employees) for, and to hold it harmless against, any documented loss,
liability or expense, including reasonable and documented attorneys&rsquo; fees, incurred without negligence or willful misconduct on
the part of the Trustee and arising out of or in connection with the acceptance or administration of this trust, including the reasonable
and documented costs and expenses of defending itself against any claim of liability in the premises (whether asserted by the Company,
or any holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder,
or in connection with enforcing the provisions of this Section.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;The obligations of the Company under this Section&nbsp;to
compensate and indemnify the Trustee and to pay or reimburse the Trustee for reasonable expenses, disbursements and advances shall constitute
additional indebtedness hereunder. Such additional indebtedness shall be secured by a lien prior to that of the Securities upon all property
and funds held or collected by the Trustee as such, except funds held in trust for the benefit of the holders of particular Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;To ensure the Company&rsquo;s payment obligations in this
Section, the Trustee shall have a lien prior to the Securities on all funds or property held or collected by the Trustee, except that
held in trust to pay principal of, premium, if any, or interest on particular Securities. When the Trustee incurs expenses or renders
services in connection with an Event of Default specified in <U>Section&nbsp;6.01(a)(4)</U>&nbsp;or <U>(5)</U>, the expenses (including
the reasonable fees and expenses of its counsel) and the compensation for services in connection therewith are to constitute expenses
of administration under any Bankruptcy Law. The provisions of this <U>Section&nbsp;7.06</U> shall survive the termination of this Indenture
and the earlier resignation or removal of the Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.07 <U>Reliance on Officer&rsquo;s Certificate or Opinion
of Counsel</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Except as otherwise provided in <U>Section&nbsp;7.01</U>, whenever
in the administration of the provisions of this Indenture the Trustee shall deem it reasonably necessary or desirable that a matter be
proved or established prior to taking or suffering or omitting to take any action hereunder, such matter (unless other evidence in respect
thereof be herein specifically prescribed) may, in the absence of negligence or willful misconduct on the part of the Trustee, be deemed
to be conclusively proved and established by an Officer&rsquo;s Certificate and Opinion of Counsel delivered to the Trustee and such certificate
and opinion, 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 to be taken by it under the provisions of this Indenture upon the faith thereof.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.08 <U>Disqualification; Conflicting Interests</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the Trustee has or shall acquire any &ldquo;conflicting interest&rdquo;
within the meaning of Section&nbsp;310(b)&nbsp;of the Trust Indenture Act, the Trustee and the Company shall in all respects comply with
the provisions of Section&nbsp;310(b)&nbsp;of the Trust Indenture Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.09 <U>Corporate Trustee Required; Eligibility</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">There shall at all times be a Trustee with respect to the Securities
issued hereunder which shall at all times be a corporation organized and doing business under the laws of the United States of America
or any state or territory thereof or of the District of Columbia, or a corporation or other Person permitted to act as trustee by the
Commission, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least fifty million
U.S. dollars ($50,000,000), and subject to supervision or examination by federal, state, territorial, or District of Columbia authority.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If such corporation or other Person publishes reports of condition
at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of
this Section, the combined capital and surplus of such corporation or other Person shall be deemed to be its combined capital and surplus
as set forth in its most recent report of condition so published. The Company may not, nor may any Person directly or indirectly controlling,
controlled by, or under common control with the Company, serve as Trustee. In case at any time the Trustee shall cease to be eligible
in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified in
<U>Section&nbsp;7.10</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.10 <U>Resignation and Removal; Appointment of Successor</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;The Trustee or any successor hereafter appointed may at any
time resign with respect to the Securities of one or more series by giving written notice thereof to the Company and by transmitting notice
of resignation by electronic mail, or by first class postage prepaid mail, to the Securityholders of such series, as their names and addresses
appear upon the Security Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee with
respect to Securities of such series by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which
instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been
so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition
any court of competent jurisdiction for the appointment of a successor trustee with respect to Securities of such series, or any Securityholder
of that series who has been a bona fide holder of a Security or Securities for at least six months may on behalf of himself and all others
similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon after such notice, if
any, as it may deem proper and prescribe, appoint a successor trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;In case at any time any one of the following shall occur:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(i)&nbsp;the Trustee shall fail to comply with the provisions of <U>Section&nbsp;7.08</U>
after written request therefor by the Company or by any Securityholder who has been a bona fide holder of a Security or Securities for
at least six months; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(ii)&nbsp;the Trustee shall cease to be eligible in accordance with
the provisions of <U>Section&nbsp;7.09</U> and shall fail to resign after written request therefor by the Company or by any such Securityholder;
or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(iii)&nbsp;the Trustee shall become incapable of acting, or shall be
adjudged a bankrupt or insolvent, or commence a voluntary bankruptcy proceeding, or a receiver of the Trustee or of its property shall
be appointed or consented to, or any public officer shall take charge or control of the Trustee or of its property or affairs for the
purpose of rehabilitation, conservation or liquidation;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">then, in any such case, the Company may remove the Trustee with respect
to all Securities and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one
copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or any Securityholder who
has been a bona fide holder of a Security or Securities for at least six months may, on behalf of that holder and all others similarly
situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such
court may thereupon after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;The holders of a majority in aggregate principal amount of
the Securities of any series at the time Outstanding may at any time remove the Trustee with respect to such series by so notifying the
Trustee and the Company and may appoint a successor Trustee for such series with the consent of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;Any resignation or removal of the Trustee and appointment
of a successor trustee with respect to the Securities of a series pursuant to any of the provisions of this Section&nbsp;shall become
effective upon acceptance of appointment by the successor trustee as provided in <U>Section&nbsp;7.11</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(e)&nbsp;Any successor trustee appointed pursuant to this Section&nbsp;may
be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee
with respect to the Securities of any particular series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.11 <U>Acceptance of Appointment By Successor</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;In case of the appointment hereunder of a successor trustee
with respect to all Securities, every such successor trustee so appointed shall execute, acknowledge and deliver to the Company and to
the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall
become effective and such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers,
trusts and duties of the retiring Trustee; but, on the request of the Company or the successor trustee, such retiring Trustee shall, upon
full payment of any amount then due it pursuant to <U>Section&nbsp;7.06</U>, execute and deliver an instrument transferring to such successor
trustee all the rights, powers, and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor trustee
all property and money held by such retiring Trustee hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;In case of the appointment hereunder of a successor trustee
with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor trustee with
respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor trustee
shall accept such appointment and which (i)&nbsp;shall contain such provisions as shall be necessary or desirable to transfer and confirm
to, and to vest in, each successor trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities
of that or those series to which the appointment of such successor trustee relates, (ii)&nbsp;shall contain such provisions as shall be
deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities
of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (iii)&nbsp;shall
add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the
trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute
such Trustees co-trustees of the same trust, that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart
from any trust or trusts hereunder administered by any other such Trustee and that no Trustee shall be responsible for any act or failure
to act on the part of any other Trustee hereunder; and upon the execution and delivery of such supplemental indenture the resignation
or removal of the retiring Trustee shall become effective to the extent provided therein, such retiring Trustee shall with respect to
the Securities of that or those series to which the appointment of such successor trustee relates have no further responsibility for the
exercise of rights and powers or for the performance of the duties and obligations vested in the Trustee under this Indenture, and each
such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties
of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee relates;
but, on request of the Company or any successor trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor
trustee, to the extent contemplated by such supplemental indenture, the property and money held by such retiring Trustee hereunder with
respect to the Securities of that or those series to which the appointment of such successor trustee relates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;Upon request of any such successor trustee, the Company shall
execute any and all instruments for more fully and certainly vesting in and confirming to such successor trustee all such rights, powers
and trusts referred to in paragraph (a)&nbsp;or (b)&nbsp;of this Section, as the case may be.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;No successor trustee shall accept its appointment unless at
the time of such acceptance such successor trustee shall be qualified and eligible under this Article.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(e)&nbsp;Upon acceptance of appointment by a successor trustee as provided
in this Section, the Company shall transmit notice of the succession of such trustee hereunder by mail, first class postage prepaid, to
the Securityholders, as their names and addresses appear upon the Security Register. If the Company fails to transmit such notice within
ten days after acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to be transmitted at
the expense of the Company.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.12 <U>Merger, Conversion, Consolidation or Succession
to Business</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any corporation into which the Trustee may be merged or converted or
with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall
be a party, or any corporation succeeding to the corporate trust business of the Trustee, including the administration of the trust created
by this Indenture, shall be the successor of the Trustee hereunder, <I>provided</I> that such corporation shall be qualified under the
provisions of <U>Section&nbsp;7.08</U> and eligible under the provisions of <U>Section&nbsp;7.09</U>, without the execution or filing
of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. In case any
Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation
to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such
successor Trustee had itself authenticated such Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.13 <U>Preferential Collection of Claims Against the
Company</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Trustee shall comply with Section&nbsp;311(a)&nbsp;of the Trust
Indenture Act, excluding any creditor relationship described in Section&nbsp;311(b)&nbsp;of the Trust Indenture Act. A Trustee who has
resigned or been removed shall be subject to Section&nbsp;311(a)&nbsp;of the Trust Indenture Act to the extent included therein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.14 <U>Notice of Default</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If any Event of Default occurs and is continuing and if such Event
of Default is actually known to a Responsible Officer of the Trustee, the Trustee shall send to each Securityholder in the manner and
to the extent provided in Section&nbsp;313(c)&nbsp;of the Trust Indenture Act notice of the Event of Default within the later of 90 days
after it occurs and 30 days after it is actually known to a Responsible Officer of the Trustee or written notice of it is received by
the Trustee, unless such Event of Default has been cured; <I>provided</I>, <I>however</I>, that, except in the case of a default in the
payment of the principal of (or premium, if any) or interest on any Security, the Trustee shall be protected in withholding such notice
if and so long as it in good faith determines that the withholding of such notice is in the interest of the Securityholders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;8</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;8.01 <U>Evidence of Action by Securityholders</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Whenever in this Indenture it is <I>provided</I> that the holders of
a majority or specified percentage in aggregate principal amount of the Securities of a particular series may take any action (including
the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at
the time of taking any such action the holders of such majority or specified percentage of that series have joined therein may be evidenced
by any instrument or any number of instruments of similar tenor executed by such holders of Securities of that series in person or by
agent or proxy appointed in writing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the Company shall solicit from the Securityholders of any series
any request, demand, authorization, direction, notice, consent, waiver or other action, the Company may, at its option, as evidenced by
an Officer&rsquo;s Certificate, fix in advance a record date for such series for the determination of Securityholders entitled to give
such request, demand, authorization, direction, notice, consent, waiver or other action, but the Company shall have no obligation to do
so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other action may be given
before or after the record date, but only the Securityholders of record at the close of business on the record date shall be deemed to
be Securityholders for the purposes of determining whether Securityholders of the requisite proportion of Outstanding Securities of that
series have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other action,
and for that purpose the Outstanding Securities of that series shall be computed as of the record date; <I>provided</I>, <I>however</I>,
that no such authorization, agreement or consent by such Securityholders on the record date shall be deemed effective unless it shall
become effective pursuant to the provisions of this Indenture not later than six months after the record date.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;8.02 <U>Proof of Execution by Securityholders</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Subject to the provisions of <U>Section&nbsp;7.01</U>, proof of the
execution of any instrument by a Securityholder (such proof will not require notarization) or his 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:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;The fact and date of the execution by any such Person of any
instrument may be proved in any reasonable manner acceptable to the Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;The ownership of Securities shall be proved by the Security
Register of such Securities or by a certificate of the Security Registrar thereof. The Trustee may require such additional proof of any
matter referred to in this Section&nbsp;as it shall deem necessary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;8.03 <U>Who May&nbsp;be Deemed Owners</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Prior to the due presentment for registration of transfer of any Security,
the Company, the Trustee, any paying agent and any Security Registrar may deem and treat the Person in whose name such Security shall
be registered upon the books of the Security Registrar as the absolute owner of such Security (whether or not such Security shall be overdue
and notwithstanding any notice of ownership or writing thereon made by anyone other than the Security Registrar) for the purpose of receiving
payment of or on account of the principal of, premium, if any, and (subject to <U>Section&nbsp;2.03</U>) interest on such Security and
for all other purposes; and neither the Company nor the Trustee nor any paying agent nor any Security Registrar shall be affected by any
notice to the contrary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;8.04 <U>Certain Securities Owned by Company Disregarded</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In determining whether the holders of the requisite aggregate principal
amount of Securities of a particular series have concurred in any direction, consent, demand, authorization, notice or waiver under this
Indenture, the Securities of that series that are owned by the Company or any other obligor on the Securities of that series or by any
Person directly or indirectly controlling or controlled by or under common control with the Company or any other obligor on the Securities
of that series shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that for the purpose
of determining whether the Trustee shall be protected in relying on any such direction, consent or waiver, only Securities of such series
that a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. The Securities so owned that have been
pledged in good faith may be regarded as Outstanding for the purposes of this Section, if the pledgee shall establish to the satisfaction
of the Trustee the pledgee&rsquo;s right so to act with respect to such Securities and that the pledgee is not a Person directly or indirectly
controlling or controlled by or under direct or indirect common control with the Company or any such other obligor. In case of a dispute
as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;8.05 <U>Actions Binding on Future Securityholders</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At any time prior to (but not after) the evidencing to the Trustee,
as provided in <U>Section&nbsp;8.01</U>, of the taking of any action by the holders of the majority or percentage in aggregate principal
amount of the Securities of a particular series specified in this Indenture in connection with such action, any holder of a Security of
that series that is shown by the evidence to be included in the Securities the holders of which have consented to such action may, by
filing written notice with the Trustee, and upon proof of holding as provided in <U>Section&nbsp;8.02</U>, revoke such action so far as
concerns such Security. Except as aforesaid any such action taken by the holder of any Security shall be conclusive and binding upon such
holder and upon all future holders and owners of such Security, and of any Security issued in exchange therefor, on registration of transfer
thereof or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Security. Any action taken
by the holders of the majority or percentage in aggregate principal amount of the Securities of a particular series specified in this
Indenture in connection with such action shall be conclusively binding upon the Company, the Trustee and the holders of all the Securities
of that series.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;9</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;9.01 <U>Supplemental Indentures Without the Consent of
Securityholders</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition to any supplemental indenture otherwise authorized by this
Indenture, the Company and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto
(which shall conform to the provisions of the Trust Indenture Act as then in effect), without the consent of the Securityholders at any
time Outstanding, for one or more of the following purposes:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;to cure any ambiguity, defect, or inconsistency herein or
in the Securities of any series;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;to comply with <U>Article&nbsp;10</U>;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;to provide for uncertificated Securities in addition to or
in place of certificated Securities;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;to add to the covenants, restrictions, conditions or provisions
relating to the Company for the benefit of the holders of all or any series of Securities (and if such covenants, restrictions, conditions
or provisions are to be for the benefit of less than all series of Securities, stating that such covenants, restrictions, conditions or
provisions are expressly being included solely for the benefit of such series), to make the occurrence, or the occurrence and the continuance,
of a default in any such additional covenants, restrictions, conditions or provisions an Event of Default, or to surrender any right or
power herein conferred upon the Company;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(e)&nbsp;to add to, delete from, or revise the conditions, limitations,
and restrictions on the authorized amount, terms, or purposes of issue, authentication, and delivery of Securities, as herein set forth;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(f)&nbsp;to make any change that does not adversely affect the rights
of any Securityholder in any material respect;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(g)&nbsp;to provide for the issuance of and establish the form and
terms and conditions of the Securities of any series as provided in <U>Section&nbsp;2.01</U>, to establish the form of any certifications
required to be furnished pursuant to the terms of this Indenture or any series of Securities, or to add to the rights of the holders of
any series of Securities;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(h)&nbsp;to evidence and provide for the acceptance of appointment
hereunder by a successor trustee or to appoint a separate trustee with respect to any series; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(i)&nbsp;to comply with any requirements of the Commission or any successor
in connection with the qualification of this Indenture under the Trust Indenture Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Trustee is hereby authorized to join with the Company in the execution
of any such supplemental indenture, and to make any further appropriate agreements and stipulations that may be therein contained, but
the Trustee shall not be obligated to enter into any such supplemental indenture that affects the Trustee&rsquo;s own rights, duties or
immunities under this Indenture or otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any supplemental indenture authorized by the provisions of this Section&nbsp;may
be executed by the Company and the Trustee without the consent of the holders of any of the Securities at the time Outstanding, notwithstanding
any of the provisions of <U>Section&nbsp;9.02</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;9.02 <U>Supplemental Indentures With Consent of Securityholders</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With the consent (evidenced as provided in <U>Section&nbsp;8.01</U>)
of the holders of not less than a majority in aggregate principal amount of the Securities of each series affected by such supplemental
indenture or indentures at the time Outstanding, the Company, when authorized by a Board Resolution, and the Trustee may from time to
time and at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture
Act as then in effect) for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this
Indenture or of any supplemental indenture or of modifying in any manner not covered by <U>Section&nbsp;9.01</U> the rights of the holders
of the Securities of such series under this Indenture; <I>provided</I>, <I>however</I>, that no such supplemental indenture shall, without
the consent of the holders of each Security then Outstanding and affected thereby, (a)&nbsp;extend the fixed maturity of any Securities
of any series, or reduce the principal amount thereof, or reduce the rate or extend the time of payment of interest thereon, or reduce
any premium payable upon the redemption thereof or (b)&nbsp;reduce the aforesaid percentage of Securities, the holders of which are required
to consent to any such supplemental indenture.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">It shall not be necessary for the consent of the Securityholders of
any series affected thereby under this Section&nbsp;to approve the particular form of any proposed supplemental indenture, but it shall
be sufficient if such consent shall approve the substance thereof. The Trustee shall not be obligated to enter into any such supplemental
indenture that affects the Trustee&rsquo;s own rights, duties or immunities under this Indenture or otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;9.03 <U>Effect of Supplemental Indentures</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Upon the execution of any supplemental indenture pursuant to the provisions
of this Article&nbsp;or of <U>Section&nbsp;10.01</U>, this Indenture shall, with respect to such series only, be and be deemed to be modified
and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture
of the Trustee, the Company and the holders of Securities of the series affected thereby shall thereafter be determined, exercised and
enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any such supplemental
indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes with respect to such
series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;9.04 <U>Securities Affected by Supplemental Indentures</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities of any series affected by a supplemental indenture, authenticated
and delivered after the execution of such supplemental indenture pursuant to the provisions of this Article&nbsp;or of <U>Section&nbsp;10.01</U>,
may bear a notation in form approved by the Company, provided such form meets the requirements of any securities exchange upon which such
series may be listed, as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities
of that series so modified as to conform, in the opinion of the Board of Directors, to any modification of this Indenture contained in
any such supplemental indenture may be prepared by the Company, authenticated by the Trustee and delivered in exchange for the Securities
of that series then Outstanding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;9.05 <U>Execution of Supplemental Indentures</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Upon the request of the Company, accompanied by its Board Resolutions
authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent of Securityholders
required to consent thereto as aforesaid, the Trustee shall join with the Company in the execution of such supplemental indenture unless
such supplemental indenture affects the Trustee&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 such supplemental indenture. The Trustee shall receive an Officer&rsquo;s
Certificate and an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant to this Article&nbsp;is
authorized or permitted by the terms of this Article&nbsp;and that all conditions precedent to the execution of the supplemental indenture
have been complied with and with respect to such Opinion of Counsel, that such supplemental indenture is the legal, valid and binding
obligation of the Company, enforceable against each of them in accordance with its terms, subject to customary exceptions and qualifications.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Promptly after the execution by the Company and the Trustee of any
supplemental indenture pursuant to the provisions of this Article, the Company shall transmit by electronic mail, or by first class mail,
postage prepaid, a notice, setting forth in general terms the substance of such supplemental indenture, to the Securityholders of all
series affected thereby as their names and addresses appear upon the Security Register. Any failure of the Company to mail, or cause the
mailing of, such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental
indenture.</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;10.01 <U>Company May&nbsp;Consolidate, Etc</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nothing contained in this Indenture shall prevent any consolidation
or merger of the Company with or into any other Person (whether or not affiliated with the Company) or successive consolidations or mergers
in which the Company or its successor or successors shall be a party or parties, or shall prevent any sale, conveyance, transfer or other
disposition of the property of the Company or its successor or successors as an entirety, or substantially as an entirety, to any other
corporation (whether or not affiliated with the Company or its successor or successors) authorized to acquire and operate the same; <I>provided</I>,
<I>however</I>, (a)&nbsp;the Company hereby covenants and agrees that, upon any such consolidation or merger (in each case, if the Company
is not the survivor of such transaction), sale, conveyance, transfer or other disposition, the due and punctual payment of the principal
of (premium, if any) and interest on all of the Securities of all series in accordance with the terms of each series, according to their
tenor, and the due and punctual performance and observance of all the covenants and conditions of this Indenture with respect to each
series or established with respect to such series pursuant to <U>Section&nbsp;2.01</U> to be kept or performed by the Company shall be
expressly assumed, by supplemental indenture (which shall conform to the provisions of the Trust Indenture Act, as then in effect) executed
and delivered to the Trustee by the entity formed by such consolidation, or into which the Company shall have been merged, or by the entity
which shall have acquired such property and (b)&nbsp;in the event that the Securities of any series then Outstanding are convertible into
or exchangeable for shares of common stock or other securities of the Company, such entity shall, by such supplemental indenture, make
provision so that the Securityholders of Securities of that series shall thereafter be entitled to receive upon conversion or exchange
of such Securities the number of securities or property to which a holder of the number of shares of common stock or other securities
of the Company deliverable upon conversion or exchange of those Securities would have been entitled had such conversion or exchange occurred
immediately prior to such consolidation, merger, sale, conveyance, transfer or other disposition. If the Company is not the surviving
entity of any such transaction, the Company or the continuing entity agrees to deliver to the Trustee an Officer&rsquo;s Certificate and
Opinion of Counsel stating that the transaction and the supplemental indenture complies with this Section&nbsp;10.01 and that all conditions
precedent herein relating to the transaction have been satisfied.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;10.02 <U>Successor Entity Substituted</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;In case of any such consolidation, merger, sale, conveyance,
transfer or other disposition and upon the assumption by the successor entity by supplemental indenture, executed and delivered to the
Trustee, of the obligations set forth under <U>Section&nbsp;10.01</U> on all of the Securities of all series Outstanding, such successor
entity shall succeed to and be substituted for the Company with the same effect as if it had been named as the Company herein, and thereupon
the predecessor corporation shall be relieved of all obligations and covenants under this Indenture and the Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;In case of any such consolidation, merger, sale, conveyance,
transfer or other disposition, such changes in phraseology and form (but not in substance) may be made in the Securities thereafter to
be issued as may be appropriate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;Nothing contained in this Article&nbsp;shall require any action
by the Company in the case of a consolidation or merger of any Person into the Company where the Company is the survivor of such transaction,
or the acquisition by the Company, by purchase or otherwise, of all or any part of the property of any other Person (whether or not affiliated
with the Company).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;11</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;11.01 <U>Satisfaction and Discharge of Indenture</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If at any time: (a)&nbsp;the Company shall have delivered to the Trustee
for cancellation all Securities of a series theretofore authenticated and not delivered to the Trustee for cancellation (other than any
Securities that shall have been destroyed, lost or stolen and that shall have been replaced or paid as provided in <U>Section&nbsp;2.07</U>
and Securities for whose payment money or Governmental Obligations have theretofore been deposited in trust or segregated and held in
trust by the Company and thereupon repaid to the Company or discharged from such trust, as provided in <U>Section&nbsp;11.05</U>); or
(b)&nbsp;all such Securities of a particular series not theretofore delivered to the Trustee for cancellation shall have become due and
payable, or are by their terms to become due and payable within one year or are to be called for redemption within one year under arrangements
satisfactory to the Trustee for the giving of notice of redemption, and the Company shall deposit or cause to be deposited with the Trustee
as trust funds the entire amount in moneys or Governmental Obligations or a combination thereof, sufficient in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay at maturity
or upon redemption all Securities of that series not theretofore delivered to the Trustee for cancellation, including principal (and premium,
if any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and if the Company
shall also pay or cause to be paid all other sums payable hereunder with respect to such series by the Company then this Indenture shall
thereupon cease to be of further effect with respect to such series except for the provisions of <U>Sections 2.03</U>, <U>2.05</U>, <U>2.07</U>,
<U>4.01</U>, <U>4.02</U>, <U>4.03</U> and <U>7.10</U>, that shall survive until the date of maturity or redemption date, as the case may
be, and <U>Sections 7.06</U> and <U>11.05</U>, that shall survive to such date and thereafter, and the Trustee, on demand of the Company
and at the cost and expense of the Company shall execute such instruments reasonably requested by the Company acknowledging satisfaction
of and discharging this Indenture with respect to such series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;11.02 <U>Discharge of Obligations</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If at any time all such Securities of a particular series not heretofore
delivered to the Trustee for cancellation or that have not become due and payable as described in <U>Section&nbsp;11.01</U> shall have
been paid by the Company by depositing irrevocably with the Trustee as trust funds moneys or an amount of Governmental Obligations sufficient
to pay at maturity or upon redemption all such Securities of that series not theretofore delivered to the Trustee for cancellation, including
principal (and premium, if any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may
be, and if the Company shall also pay or cause to be paid all other sums payable hereunder by the Company with respect to such series,
then after the date such moneys or Governmental Obligations, as the case may be, are deposited with the Trustee the obligations of the
Company under this Indenture with respect to such series shall cease to be of further effect except for the provisions of <U>Sections
2.03</U>, <U>2.05</U>, <U>2.07</U>, <U>4.01</U>, <U>4.02</U>, <U>4.03</U>, <U>7.06</U>, <U>7.10</U> and <U>11.05</U> hereof that shall
survive until such Securities shall mature and be paid.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Thereafter, <U>Sections 7.06</U> and <U>11.05</U> shall survive.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;11.03 <U>Deposited Moneys to be Held in Trust</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All moneys or Governmental Obligations deposited with the Trustee pursuant
to <U>Sections 11.01</U> or <U>11.02</U> shall be held in trust and shall be available for payment as due, either directly or through
any paying agent (including the Company acting as its own paying agent), to the holders of the particular series of Securities for the
payment or redemption of which such moneys or Governmental Obligations have been deposited with the Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;11.04 <U>Payment of Moneys Held by Paying Agents</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with the satisfaction and discharge of this Indenture
all moneys or Governmental Obligations then held by any paying agent under the provisions of this Indenture shall, upon demand of the
Company, be paid to the Trustee and thereupon such paying agent shall be released from all further liability with respect to such moneys
or Governmental Obligations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;11.05 <U>Repayment to Company</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any moneys or Governmental Obligations deposited with any paying agent
or the Trustee, or then held by the Company, in trust for payment of principal of or premium, if any, or interest on the Securities of
a particular series that are not applied but remain unclaimed by the holders of such Securities for at least two years after the date
upon which the principal of (and premium, if any) or interest on such Securities shall have respectively become due and payable, or such
other shorter period set forth in applicable escheat or abandoned or unclaimed property law, shall be repaid to the Company on May&nbsp;31
of each year or upon the Company&rsquo;s request or (if then held by the Company) shall be discharged from such trust; and thereupon the
paying agent and the Trustee shall be released from all further liability with respect to such moneys or Governmental Obligations, and
the holder of any of the Securities entitled to receive such payment shall thereafter, as a general creditor, look only to the Company
for the payment thereof.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS
AND DIRECTORS</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;12.01 <U>No Recourse</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">No recourse under or upon any obligation, covenant or agreement of
this Indenture, or of any Security, or for any claim based thereon or otherwise in respect thereof, shall be had against any incorporator,
stockholder, officer or director, past, present or future as such, of the Company or of any predecessor or successor corporation, either
directly or through the Company or any such predecessor or successor corporation, whether by virtue of any constitution, statute or rule&nbsp;of
law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Indenture and the obligations
issued hereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred
by, the incorporators, stockholders, officers or directors as such, of the Company or of any predecessor or successor corporation, or
any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements
contained in this Indenture or in any of the Securities or implied therefrom; and that any and all such personal liability of every name
and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every
such incorporator, stockholder, officer or director as such, because of the creation of the indebtedness hereby authorized, or under or
by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom, are
hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issuance of
such Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;13</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.01 <U>Effect on Successors and Assigns</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All the covenants, stipulations, promises and agreements in this Indenture
made by or on behalf of the Company shall bind its successors and assigns, whether so expressed or not.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.02 <U>Actions by Successor</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any act or proceeding by any provision of this Indenture authorized
or required to be done or performed by any board, committee or officer of the Company shall and may be done and performed with like force
and effect by the corresponding board, committee or officer of any corporation that shall at the time be the lawful successor of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.03 <U>Surrender of Company Powers</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company by instrument in writing executed by authority of its Board
of Directors and delivered to the Trustee may surrender any of the powers reserved to the Company, and thereupon such power so surrendered
shall terminate both as to the Company and as to any successor corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.04 <U>Notices</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Except as otherwise expressly provided herein, any notice, request
or demand that by any provision of this Indenture is required or permitted to be given, made or served by the Trustee or by the holders
of Securities or by any other Person pursuant to this Indenture to or on the Company may be given or served by any standard form of telecommunication
or by being deposited in first class mail, postage prepaid, addressed (until another address is filed in writing by the Company with the
Trustee), as follows: Protagonist Therapeutics,&nbsp;Inc., 7707 Gateway Blvd., Suite&nbsp;140, Newark, CA 94560. Any notice, election,
request or demand by the Company or any Securityholder or by any other Person pursuant to this Indenture to or upon the Trustee shall
be deemed to have been sufficiently given or made, for all purposes, if given or made in writing at the Corporate Trust Office of the
Trustee. Notwithstanding anything herein to the contrary, where reference herein is made to notice of any event (including notice of redemption)
to a Securityholder of Global Securities, whether by mail or otherwise, such notice shall be sufficiently given when delivered to the
Depositary (or its designee) pursuant to the customary procedures of the Depositary.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.05 <U>Governing Law; Jury Trial Waiver</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">THIS INDENTURE AND EACH SECURITY, AND ANY CLAIM, CONTROVERSY OR DISPUTE
ARISING UNDER OR RELATED TO THIS INDENTURE AND EACH SECURITY, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK (WITHOUT REGARD TO THE CONFLICTS OF LAWS PROVISIONS THEREOF). EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR
RELATING TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTION CONTEMPLATED HEREBY.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.06 <U>Treatment of Securities as Debt</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">It is intended that the Securities will be treated as indebtedness
and not as equity for federal income tax purposes. The provisions of this Indenture shall be interpreted to further this intention.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.07 <U>Certificates and Opinions as to Conditions Precedent</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;Upon any application or demand by the Company to the Trustee
to take any action under any of the provisions of this Indenture, the Company shall furnish to the Trustee an Officer&rsquo;s Certificate
stating that all covenants and conditions precedent provided for in this Indenture (other than the certificate to be delivered pursuant
to <U>Section&nbsp;13.12</U>) relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion
of such counsel all such covenants and conditions precedent have been complied with.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;Each certificate or opinion provided for in this Indenture
and delivered to the Trustee with respect to compliance with a condition or covenant in this Indenture shall include (i)&nbsp;a statement
that the Person making such certificate or opinion has read such covenant or condition; (ii)&nbsp;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)&nbsp;a
statement that, in the opinion of such Person, he has made such examination or investigation as is reasonably necessary to enable him
to express an informed opinion as to whether or not such covenant or condition has been complied with; and (iv)&nbsp;a statement as to
whether or not, in the opinion of such Person, such condition or covenant has been complied with.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.08 <U>Payments on Business Days</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Except as provided pursuant to <U>Section&nbsp;2.01</U> pursuant to
a Board Resolution, and set forth in an Officer&rsquo;s Certificate, or established in one or more indentures supplemental to this Indenture,
in any case where the date that principal of, interest and/or premium, if any, on any Security is due or otherwise payable shall not be
a Business Day or is a day on which the banking institutions in the city of the office of the Paying Agent are authorized or obligated
by law to close or be closed, then payment of principal, premium, if any, and/or interest may be made on the next succeeding day that
is a Business Day and is not a day on which the banking institutions in the city of the office of the Paying Agent are authorized or obligated
by law to close or be closed with the same force and effect as if made on the nominal date of maturity or redemption, and no interest
shall accrue for the period after such nominal date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.09 <U>Conflict with Trust Indenture Act</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If and to the extent that any provision of this Indenture limits, qualifies
or conflicts with the duties imposed by Sections 310 to 317, inclusive, of the Trust Indenture Act, such imposed duties shall control.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.10 <U>Counterparts</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Indenture may be executed in any number of counterparts, each
of which shall be an original, but such counterparts shall together constitute but one and the same instrument. The exchange of copies
of this Indenture and of signature pages&nbsp;by facsimile or PDF transmission shall constitute effective execution and delivery of this
Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto
transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.11 <U>Separability</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In case any one or more of the provisions contained in this Indenture
or in the Securities of any series shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability shall not affect any other provisions of this Indenture or of such Securities, but this Indenture and such
Securities shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.12 <U>Compliance Certificates</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company shall deliver to the Trustee, within 120 days after the
end of each fiscal year during which any Securities of any series were outstanding, an Officer&rsquo;s Certificate stating whether or
not the signers know of any Event of Default that occurred during such fiscal year. Such certificate shall contain a certification from
the principal executive officer, principal financial officer or principal accounting officer of the Company that a review has been conducted
of the activities of the Company and the Company&rsquo;s performance under this Indenture and that the Company has complied with all conditions
and covenants under this Indenture. For purposes of this <U>Section&nbsp;13.12</U>, such compliance shall be determined without regard
to any period of grace or requirement of notice provided under this Indenture. If the officer of the Company signing such certificate
has knowledge of such an Event of Default, the certificate shall describe any such Event of Default and its status.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.13 <U>USA PATRIOT ACT</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The parties hereto acknowledge that in accordance with Section&nbsp;326
of the USA PATRIOT Act, the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering,
is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens
an account with the Trustee. The parties to this Indenture agree that they will provide the Trustee with such information as it may request
in order for the Trustee to satisfy the requirements of the USA PATRIOT Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.14 <U>Calculations</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">It is understood that the Trustee nor the Paying Agent shall have no
responsibility for any calculations hereunder and shall be entitled to conclusively rely on the calculations of the Company without any
independent verification or investigation.</P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>IN WITNESS WHEREOF</B>, the parties hereto have caused this Indenture
to be duly executed all as of the day and year first above written.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; font-size: 10pt"><B>PROTAGONIST THERAPEUTICS,&nbsp;INC</B>., as Issuer</TD></TR>

<TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="width: 45%; padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font-size: 10pt">By:</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>

  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font-size: 10pt">Name:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.4pt">&nbsp;</TD>
    </TR>

  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font-size: 10pt">Title:</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.4pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; font-size: 10pt"><B>[TRUSTEE]</B>, as Trustee</TD></TR>

<TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="width: 45%; padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font-size: 10pt">By:</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>

  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font-size: 10pt">Name:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.4pt">&nbsp;</TD>
    </TR>

  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font-size: 10pt">Title:</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.4pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>TRUST INDENTURE ACT CROSS-REFERENCE TABLE<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1</SUP></FONT></B> &nbsp; &nbsp;</P>



<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt; font-size: 10pt; width: 83%"><FONT STYLE="font-size: 10pt"><B>Section&nbsp;of Trust Indenture Act of 1939, as amended</B></FONT></TD>
    <TD STYLE="padding: 0.25pt 0.25pt 1pt; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt; font-size: 10pt; text-align: center; width: 15%"><FONT STYLE="font-size: 10pt"><B>Section&nbsp;of<BR>
Indenture</B></FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">310(a)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">7.09</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">310(b)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">7.08</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">7.10</P></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">310(c)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">Inapplicable</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">311(a)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">7.13</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">311(b)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">7.13</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">311(c)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">Inapplicable</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">312(a)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5.01</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5.02(a)</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">312(b)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">5.02(c)</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">312(c)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">5.02(c)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">313(a)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">5.04(a)</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">313(b)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">5.04(b)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">313(c)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5.04(a)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5.04(b)</P></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">313(d)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">5.04(c)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">314(a)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5.03</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">13.12</P></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">314(b)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">Inapplicable</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">314(c)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">13.07(a)</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">314(d)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">Inapplicable</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">314(e)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">13.07(b)</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">314(f)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">Inapplicable</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">315(a)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">7.01(a)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">7.01(b)</P></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">315(b)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">7.14</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">315(c)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">7.01(a)</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">315(d)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">7.01(b)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">315(e)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">6.07</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">316(a)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">6.06</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">8.04</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">316(b)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">6.04</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">316(c)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">8.01</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">317(a)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">6.02</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">317(b)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">4.03</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">318(a)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">0</TD></TR>
  </TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1
</SUP></FONT>This Cross-Reference Table does not constitute part of the Indenture and shall not have any bearing on the interpretation
of any of its terms or provisions.</P>

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

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

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<DOCUMENT>
<TYPE>EX-4.3
<SEQUENCE>4
<FILENAME>tm2222499d2_ex4-3.htm
<DESCRIPTION>EXHIBIT 4.3
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>[TRUSTEE],</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Trustee</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INDENTURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Dated as of [</B>&#9679;<B>], 202[</B>&#9679;<B>]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Subordinated Debt Securities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INDENTURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>INDENTURE</B>, dated as of [&#9679;], 202 , among <B>PROTAGONIST
THERAPEUTICS,&nbsp;INC.</B>, a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), and [<B>TRUSTEE</B>] as trustee (the &ldquo;<B>Trustee</B>&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>WHEREAS</B>, for its lawful corporate purposes, the Company has
duly authorized the execution and delivery of this Indenture to provide for the issuance of subordinated debt securities (hereinafter
referred to as the &ldquo;<B>Securities</B>&rdquo;), in an unlimited aggregate principal amount to be issued from time to time in one
or more series as in this Indenture provided, as registered Securities without coupons, to be authenticated by the certificate of the
Trustee;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>WHEREAS</B>, to provide the terms and conditions upon which the
Securities are to be authenticated, issued and delivered, the Company has duly authorized the execution of this Indenture; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>WHEREAS</B>, all things necessary to make this Indenture a valid
and binding agreement of the Company, in accordance with its terms, have been done.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NOW, THEREFORE</B>, in consideration of the premises and the purchase
of the Securities by the holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable benefit of the holders
of Securities:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DEFINITIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;1.01 <U>Definitions of Terms</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The terms defined in this Section&nbsp;(except as in this Indenture
or any indenture supplemental hereto otherwise expressly provided or unless the context otherwise requires) for all purposes of this Indenture
and of any indenture supplemental hereto shall have the respective meanings specified in this Section&nbsp;and shall include the plural
as well as the singular. All other terms used in this Indenture that are defined in the Trust Indenture Act of 1939, as amended, or that
are by reference in such Act defined in the Securities Act of 1933, as amended (except as herein or any indenture supplemental hereto
otherwise expressly provided or unless the context otherwise requires), shall have the meanings assigned to such terms in said Trust Indenture
Act and in said Securities Act as in force at the date of the execution of this instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Authenticating Agent</B>&rdquo; means an authenticating agent
with respect to all or any of the series of Securities appointed by the Trustee pursuant to <U>Section&nbsp;2.10</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Bankruptcy Law</B>&rdquo; means Title 11, U.S. Code, or any
similar federal or state law for the relief of debtors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Board of Directors</B>&rdquo; means the Board of Directors
(or the functional equivalent thereof) of the Company or any duly authorized committee of such Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Board Resolution</B>&rdquo; means a copy of a resolution
certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full
force and effect on the date of such certification and delivered to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Business Day</B>&rdquo; means, with respect to any series
of Securities, any day other than a day on which federal or state banking institutions in the Borough of Manhattan, the City of New York,
or at a place of payment, are authorized or obligated by law, executive order or regulation to close.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Commission</B>&rdquo; means the Securities and Exchange Commission,
as from time to time constituted, created under the Exchange Act, or, if at any time after the execution of this instrument such Commission
is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such
time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Company</B>&rdquo; means Protagonist Therapeutics,&nbsp;Inc.,
a corporation duly organized and existing under the laws of the State of Delaware, and, subject to the provisions of <U>Article&nbsp;10</U>,
shall also include its successors and assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Company Order</B>&rdquo; means a written order of the Company,
signed by an Officer of the Company, and delivered to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Corporate Trust Office</B>&rdquo; means the 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Custodian</B>&rdquo; means any receiver, trustee, assignee,
liquidator or similar official under any Bankruptcy Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Defaulted Interest</B>&rdquo; has the meaning set forth in
<U>Section&nbsp;2.03</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Depositary</B>&rdquo; means, with respect to Securities of
any series for which the Company shall determine that such Securities will be issued as a Global Security, The Depository Trust Company,
another clearing agency, or any successor registered as a clearing agency under the Exchange Act, or other applicable statute or regulation,
which, in each case, shall be designated by the Company pursuant to either <U>Section&nbsp;2.01</U> or <U>2.11</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Event of Default</B>&rdquo; means, with respect to Securities
of a particular series, any event specified in <U>Section&nbsp;6.01</U>, continued for the period of time, if any, therein designated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Exchange Act</B>&rdquo; means the United States Securities
and Exchange Act of 1934, as amended, and the rules&nbsp;and regulations promulgated by the Commission thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Global Security</B>&rdquo; means a Security issued to evidence
all or a part of any series of Securities which is executed by the Company and authenticated and delivered by the Trustee to the Depositary
or pursuant to the Depositary&rsquo;s instruction, all in accordance with the Indenture, which shall be registered in the name of the
Depositary or its nominee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Governmental Obligations</B>&rdquo; means securities that
are (a)&nbsp;direct obligations of the United States of America for the payment of which its full faith and credit is pledged or (b)&nbsp;obligations
of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America, the payment of which
is unconditionally guaranteed as a full faith and credit obligation by the United States of America that, in either case, are not callable
or redeemable at the option of the issuer thereof at any time prior to the stated maturity of the applicable series of Securities, and
shall also include a depositary receipt issued by a bank or trust company as custodian with respect to any such Governmental Obligation
or a specific payment of principal of or interest on any such Governmental Obligation held by such custodian for the account of the holder
of such depositary receipt; <I>provided</I>, <I>however</I>, that (except as required by law) such custodian is not authorized to make
any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of
the Governmental Obligation or the specific payment of principal of or interest on the Governmental Obligation evidenced by such depositary
receipt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>herein</B>&rdquo;, &ldquo;<B>hereof</B>&rdquo; and &ldquo;<B>hereunder</B>&rdquo;,
and other words of similar import, refer to this Indenture as a whole and not to any particular Article, Section&nbsp;or other subdivision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Indenture</B>&rdquo; means this instrument as originally
executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into in accordance
with the terms hereof and shall include the terms of particular series of Securities established as contemplated by <U>Section&nbsp;2.01</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Interest Payment Date</B>&rdquo;, when used with respect
to any installment of interest on a Security of a particular series, means the date specified in such Security or in a Board Resolution
or in an indenture supplemental hereto with respect to such series as the fixed date on which an installment of interest with respect
to Securities of that series is due and payable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Officer</B>&rdquo; means, with respect to the Company, the
Chairman of the Board of Directors, a Chief Executive Officer, a President, a Chief Financial Officer, a Chief Operating Officer, any
Executive Vice President, any Senior Vice President, any Vice President, the Treasurer or any Assistant Treasurer, the Controller or any
Assistant Controller or the Secretary or any Assistant Secretary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Officer&rsquo;s Certificate</B>&rdquo; means a certificate
signed by any Officer. Each such certificate shall include the statements provided for in <U>Section&nbsp;13.07</U>, if and to the extent
required by the provisions thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Opinion of Counsel</B>&rdquo; means an opinion in writing
subject to customary exceptions of legal counsel, who may be an employee of or counsel for the Company, that is delivered to the Trustee
in accordance with the terms hereof. Each such opinion shall include the statements provided for in <U>Section&nbsp;13.07</U>, if and
to the extent required by the provisions thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Outstanding</B>&rdquo;, when used with reference to Securities
of any series, means, subject to the provisions of <U>Section&nbsp;8.04</U>, as of any particular time, all Securities of that series
theretofore authenticated and delivered by the Trustee under this Indenture, except (a)&nbsp;Securities theretofore canceled by the Trustee
or any paying agent, or delivered to the Trustee or any paying agent for cancellation or that have previously been canceled; (b)&nbsp;Securities
or portions thereof for the payment or redemption of which moneys or Governmental Obligations in the necessary amount shall have been
deposited in trust with the Trustee or with any paying agent (other than the Company) or shall have been set aside and segregated in trust
by the Company (if the Company shall act as its own paying agent); <I>provided</I>, <I>however</I>, that if such Securities or portions
of such Securities are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in <U>Article&nbsp;3</U>,
or provision satisfactory to the Trustee shall have been made for giving such notice; and (c)&nbsp;Securities in lieu of or in substitution
for which other Securities shall have been authenticated and delivered pursuant to the terms of <U>Section&nbsp;2.07</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Person</B>&rdquo; means any individual, corporation, partnership,
joint venture, joint-stock company, limited liability company, association, trust, unincorporated organization, any other entity or organization,
including a government or political subdivision or an agency or instrumentality thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Predecessor Security</B>&rdquo; of any particular Security
means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for the
purposes of this definition, any Security authenticated and delivered under <U>Section&nbsp;2.07</U> in lieu of a lost, destroyed or stolen
Security shall be deemed to evidence the same debt as the lost, destroyed or stolen Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Responsible Officer</B>&rdquo; when used with respect to
the Trustee means any officer within the corporate trust department of the Trustee, including any vice president, assistant vice president,
assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar
to those performed by the Persons who at the time shall be such officers, respectively, or to whom any corporate trust matter relating
to this Indenture is referred because of such person&rsquo;s knowledge of and familiarity with the particular subject and, in each case,
who shall have direct responsibility for the administration of this Indenture (which, for the avoidance of doubt, includes without limitation
any supplemental indenture hereto).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Securities</B>&rdquo; has the meaning stated in the first
recital of this Indenture and more particularly means any Securities authenticated and delivered under this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Securityholder</B>&rdquo;, &ldquo;<B>holder</B>&rdquo;, &ldquo;<B>registered
holder</B>&rdquo;, or other similar term, means the Person or Persons in whose name or names a particular Security is registered on the
Security Register kept for that purpose in accordance with the terms of this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Security Register</B>&rdquo; and &ldquo;<B>Security Registrar</B>&rdquo;
shall have the meanings as set forth in <U>Section&nbsp;2.05</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Subsidiary</B>&rdquo; means, with respect to any Person:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;any corporation or company a majority of whose capital stock
with voting power, under ordinary circumstances, to elect directors is, at the date of determination, directly or indirectly, owned by
such Person (a &ldquo;<B>subsidiary</B>&rdquo;), by one or more subsidiaries of such Person or by such Person and one or more subsidiaries
of such Person;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2)&nbsp;a partnership in which such Person or a subsidiary of such
Person is, at the date of determination, a general partner of such partnership; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3)&nbsp;any partnership, limited liability company or other Person
in which such Person, a subsidiary of such Person or such Person and one or more subsidiaries of such Person, directly or indirectly,
at the date of determination, have (x)&nbsp;at least a majority ownership interest or (y)&nbsp;the power to elect or appoint or direct
the election or appointment of the managing partner or member of such Person or, if applicable, a majority of the directors or other governing
body of such Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Trustee</B>&rdquo; means , and, subject to the provisions
of <U>Article&nbsp;7</U>, shall also include its successors and assigns, and, if at any time there is more than one Person acting in such
capacity hereunder, &ldquo;Trustee&rdquo; shall mean each such Person. The term &ldquo;Trustee&rdquo; as used with respect to a particular
series of the Securities shall mean the trustee with respect to that series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Trust Indenture Act</B>&rdquo; means the Trust Indenture
Act of 1939, as amended and in effect from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>U.S. dollar</B>&rdquo; or &ldquo;<B>$</B>&rdquo; means the
lawful currency of the United States of America.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AND EXCHANGE OF SECURITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.01 <U>Designation and Terms of Securities</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;The aggregate principal amount of Securities that may be authenticated
and delivered under this Indenture is unlimited. The Securities may be issued in one or more series up to the aggregate principal amount
of Securities of that series from time to time authorized by or pursuant to a Board Resolution or pursuant to one or more indentures supplemental
hereto. Prior to the initial issuance of Securities of any series, there shall be established in or pursuant to a Board Resolution, and
set forth in an Officer&rsquo;s Certificate or established in one or more indentures supplemental hereto:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;the title of the Securities of the series (which shall distinguish
the Securities of that series from all other Securities);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2)&nbsp;any limit upon the aggregate principal amount of the Securities
of that series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration
of transfer of, or in exchange for, or in lieu of, other Securities of that series);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3)&nbsp;the date or dates on which the principal of the Securities
of the series is payable;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(4)&nbsp;if the price (expressed as a percentage of the aggregate principal
amount thereof) at which such Securities will be issued is a price other than the principal amount thereof, the portion of the principal
amount thereof payable upon declaration of acceleration of the maturity thereof, or if applicable, the portion of the principal amount
of such Securities that is convertible into another security or the method by which any such portion shall be determined;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(5)&nbsp;the rate or rates at which the Securities of the series shall
bear interest or the manner of calculation of such rate or rates, if any;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(6)&nbsp;the date or dates from which such interest shall accrue, the
Interest Payment Dates on which such interest will be payable or the manner of determination of such Interest Payment Dates, the place(s)&nbsp;of
payment, and the record date for the determination of holders to whom interest is payable on any such Interest Payment Dates or the manner
of determination of such record dates;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(7)&nbsp;the right, if any, to extend the interest payment periods
and the duration of such extension;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(8)&nbsp;the period or periods within which, the price or prices at
which and the terms and conditions upon which Securities of the series may be redeemed, converted or exchanged, in whole or in part;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(9)&nbsp;the obligation, if any, of the Company to redeem or purchase
Securities of the series pursuant to any sinking fund, mandatory redemption, or analogous provisions (including payments made in cash
in satisfaction of future sinking fund obligations) or at the option of a holder thereof and the period or periods within which, the price
or prices at which, and the terms and conditions upon which, Securities of the series shall be redeemed or purchased, in whole or in part,
pursuant to such obligation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(10)&nbsp;the form of the Securities of the series including the form
of the Certificate of Authentication for such series;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(11) if other than minimum denominations of one thousand U.S. dollars
($1,000) or any integral multiple of $1,000 thereof, the denominations in which the Securities of the series shall be issuable;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(12) any and all other terms (including terms, to the extent applicable,
relating to any auction or remarketing of the Securities of that series and any security for the obligations of the Company with respect
to such Securities) with respect to such series (which terms shall not be inconsistent with the terms of this Indenture, as amended by
any supplemental indenture) including any terms which may be required by or advisable under United States laws or regulations or advisable
in connection with the marketing of Securities of that series;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(13) whether the Securities of the series shall be issued in whole
or in part in the form of a Global Security or Securities; the terms and conditions, if any, upon which such Global Security or Securities
may be exchanged in whole or in part for other individual Securities; and the Depositary for such Global Security or Securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(14) whether the Securities will be convertible into or exchangeable
for shares of common stock, preferred stock or other securities of the Company or any other Person and, if so, the terms and conditions
upon which such Securities will be so convertible or exchangeable, including the conversion or exchange price, as applicable, or how it
will be calculated and may be adjusted, any mandatory or optional (at the Company&rsquo;s option or the holders&rsquo; option) conversion
or exchange features, and the applicable conversion or exchange period;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(15) if other than the full principal amount thereof, the portion of
the principal amount of Securities of the series which shall be payable upon declaration of acceleration of the maturity thereof pursuant
to <U>Section&nbsp;6.01</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(16) any additional or alternative Events of Default;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(17) additional or alternative covenants (which may include, among
other restrictions, restrictions on the Company&rsquo;s ability or the ability of the Company&rsquo;s Subsidiaries to: incur additional
indebtedness; issue additional securities; create liens; pay dividends or make distributions in respect of the capital stock of the Company
or the Company&rsquo;s Subsidiaries; redeem capital stock; place restrictions on the Company&rsquo;s Subsidiaries&rsquo; ability to pay
dividends, make distributions or transfer assets; make investments or other restricted payments; sell or otherwise dispose of assets;
enter into sale-leaseback transactions; engage in transactions with stockholders or affiliates; issue or sell stock of the Company&rsquo;s
Subsidiaries; or effect a consolidation or merger) or financial covenants (which may include, among other financial covenants, financial
covenants that require the Company and its Subsidiaries to maintain specified interest coverage, fixed charge, cash flow-based, asset-based
or other financial ratios) provided for with respect to the Securities of the series;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(18) the currency or currencies, including composite currencies, in
which payment of the principal of (and premium, if any) and interest, if any, on such Securities shall be payable (if other than the currency
of the United States of America), which unless otherwise specified shall be the currency of the United States of America as at the time
of payment is legal tender for payment of public or private debts;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(19) if the principal of (and premium, if any) or interest, if any,
on such Securities is to be payable, at the election of the Company or any holder thereof, in a coin or currency other than that in which
such Securities are stated to be payable, then the period or periods within which, and the terms and conditions upon which, such election
may be made;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(20) whether interest will be payable in cash or additional Securities
at the Company&rsquo;s or the Securityholders&rsquo; option and the terms and conditions upon which the election may be made;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(21) the terms and conditions, if any, upon which the Company shall
pay amounts in addition to the stated interest, premium, if any and principal amounts of the Securities of the series to any Securityholder
that is not a &ldquo;United States person&rdquo; for federal tax purposes;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(22) additional or alternative provisions, if any, related to defeasance
and discharge of the offered Securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(23) the applicability of any guarantees;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(24) any restrictions on transfer, sale or assignment of the Securities
of the series; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(25) any other terms of the series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All Securities of any one series shall be substantially identical except
as may otherwise be provided in or pursuant to any such Board Resolution or in any indentures supplemental hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If any of the terms of the series are established by action taken pursuant
to a Board Resolution of the Company, a copy of an appropriate record of such action shall be certified by the secretary or an assistant
secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officer&rsquo;s Certificate of the Company setting
forth the terms of the series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities of any particular series may be issued at various times,
with different dates on which the principal or any installment of principal is payable, with different rates of interest, if any, or different
methods by which rates of interest may be determined, with different dates on which such interest may be payable and with different redemption
dates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.02 <U>Form&nbsp;of Securities and Trustee&rsquo;s Certificate</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Securities of any series and the Trustee&rsquo;s certificate of
authentication to be borne by such Securities shall be substantially of the tenor and purport as set forth in one or more indentures supplemental
hereto or as provided in a Board Resolution, and set forth in an Officer&rsquo;s Certificate, and they may have such letters, numbers
or other marks of identification or designation and such legends or endorsements printed, lithographed or engraved thereon as the Company
may deem appropriate and as are not inconsistent with the provisions of this Indenture, or as may be required to comply with any law or
with any rule&nbsp;or regulation made pursuant thereto or with any rule&nbsp;or regulation of any securities exchange on which Securities
of that series may be listed, or to conform to usage.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.03 <U>Denominations: Provisions for Payment</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Securities shall be issuable as registered Securities and in the
minimum denominations of one thousand U.S. dollars ($1,000) or any integral multiple of $1,000 thereof, subject to Section&nbsp;2.01(a)(11).
The Securities of a particular series shall bear interest payable on the dates and at the rate specified with respect to that series.
Subject to <U>Section&nbsp;2.01(a)(18)</U>, the principal of and the interest on the Securities of any series, as well as any premium
thereon in case of redemption thereof prior to maturity, shall be payable in the coin or currency of the United States of America that
at the time is legal tender for public and private debt, at the office or agency of the Company maintained for that purpose. Each Security
shall be dated the date of its authentication. Interest on the Securities shall be computed on the basis of a 360-day year composed of
twelve 30-day months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The interest installment on any Security that is payable, and is punctually
paid or duly provided for, on any Interest Payment Date for Securities of that series shall be paid to the Person in whose name said Security
(or one or more Predecessor Securities) is registered at the close of business on the regular record date for such interest installment.
In the event that any Security of a particular series or portion thereof is called for redemption and the redemption date is subsequent
to a regular record date with respect to any Interest Payment Date and prior to such Interest Payment Date, interest on such Security
will be paid upon presentation and surrender of such Security as provided in <U>Section&nbsp;3.03</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any interest on any Security that is payable, but is not punctually
paid or duly provided for, on any Interest Payment Date for Securities of the same series (herein called &ldquo;<B>Defaulted Interest</B>&rdquo;)
shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder;
and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (1)&nbsp;or clause (2)&nbsp;below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;The Company may elect to make payment of any Defaulted Interest
on Securities 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, 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 Company shall fix a special record date for the payment of such Defaulted Interest
which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt
by the Trustee of the notice of the proposed payment. The Company shall promptly notify the Trustee in writing of such special record
date and in such notice, instruct the Trustee to send such notice to holders, in the name and at the expense of the Company, shall cause
notice of the proposed payment of such Defaulted Interest and the special record date therefor to be sent electronically or mailed, first
class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register (as hereinafter defined), not
less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record
date therefor having been sent as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their
respective Predecessor Securities) are registered on such special record date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2)&nbsp;The Company may make or cause to be made payment of any Defaulted
Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such
Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee
of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Unless otherwise set forth in a Board Resolution or one or more indentures
supplemental hereto establishing the terms of any series of Securities pursuant to <U>Section&nbsp;2.01</U> hereof, the term &ldquo;regular
record date&rdquo; as used in this Section&nbsp;with respect to a series of Securities and any Interest Payment Date for such series shall
mean either (i)&nbsp;the fifteenth day of the month immediately preceding the month in which an Interest Payment Date established for
such series pursuant to <U>Section&nbsp;2.01</U> hereof shall occur, if such Interest Payment Date is the first day of a month, or (ii)&nbsp;the
first day of the month in which an Interest Payment Date established for such series pursuant to <U>Section&nbsp;2.01</U> hereof shall
occur, if such Interest Payment Date is the fifteenth day of a month, whether or not such date is a Business Day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Subject to the foregoing provisions of this Section, each Security
of a series delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security of such series shall carry
the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.04 <U>Execution and Authentications</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Securities shall be signed on behalf of the Company by one of its
Officers. Signatures may be in the form of a manual or facsimile signature.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company may use the facsimile signature of any Person who shall
have been an Officer, notwithstanding the fact that at the time the Securities shall be authenticated and delivered or disposed of such
Person shall have ceased to be such an officer of the Company. The Securities may contain such notations, legends or endorsements required
by law, stock exchange rule&nbsp;or usage. Each Security shall be dated the date of its authentication by the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A Security shall not be valid until authenticated manually by an authorized
signatory of the Trustee, or by an Authenticating Agent. Such signature shall be conclusive evidence that the Security so authenticated
has been duly authenticated and delivered hereunder and that the holder is entitled to the benefits of this Indenture. At any time and
from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the
Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, signed
by an Officer, and the Trustee in accordance with such Company Order shall authenticate and deliver such Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In authenticating such Securities and accepting the additional responsibilities
under this Indenture in relation to such Securities, the Trustee shall receive, and (subject to <U>Section&nbsp;7.01</U>) shall be fully
protected in conclusively relying upon, an Officer&rsquo;s Certificate and an Opinion of Counsel stating that the form and terms thereof
have been established in conformity with the provisions of this Indenture, that all conditions precedent in connection with the issuance,
authentication and delivery of such Securities have been met and that such Securities are legal, valid and binding obligations against
the Company, enforceable against it in accordance with its terms, subject to customary exceptions and qualifications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Trustee shall not be required to authenticate such Securities if
the issue of such Securities pursuant to this Indenture will affect the Trustee&rsquo;s own rights, duties or immunities under the Securities
and this Indenture or otherwise in a manner that is not reasonably acceptable to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.05 <U>Registration of Transfer and Exchange</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;Securities of any series may be exchanged upon presentation
thereof at the office or agency of the Company designated for such purpose, for other Securities of such series of authorized denominations,
and for a like aggregate principal amount, upon payment of a sum sufficient to cover any tax or other governmental charge in relation
thereto, all as provided in this Section. In respect of any Securities so surrendered for exchange, the Company shall execute, the Trustee
shall authenticate and such office or agency shall deliver in exchange therefor the Security or Securities of the same series that the
Securityholder making the exchange shall be entitled to receive, bearing numbers not contemporaneously outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;The Company shall keep, or cause to be kept, at its office
or agency designated for such purpose a register or registers (herein referred to as the &ldquo;<B>Security Register</B>&rdquo;) in which,
subject to such reasonable regulations as it may prescribe, the Company shall register the Securities and the transfers of Securities
as in this Article&nbsp;provided and which at all reasonable times shall be open for inspection by the Trustee. The registrar for the
purpose of registering Securities and transfer of Securities as herein provided shall be appointed as authorized by Board Resolution (the
 &ldquo;<B>Security Registrar</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Upon surrender for transfer of any Security at the office or agency
of the Company designated for such purpose, the Company shall execute, the Trustee shall authenticate and such office or agency shall
deliver in the name of the transferee or transferees a new Security or Securities of the same series as the Security presented for a like
aggregate principal amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All Securities presented or surrendered for exchange or registration
of transfer, as provided in this Section, shall be accompanied (if so required by the Company or the Security Registrar) by a written
instrument or instruments of transfer, in form satisfactory to the Company or the Security Registrar, duly executed by the registered
holder or by such holder&rsquo;s duly authorized attorney in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;Except as provided pursuant to <U>Section&nbsp;2.01</U> pursuant
to a Board Resolution, and set forth in an Officer&rsquo;s Certificate, or established in one or more indentures supplemental to this
Indenture, no service charge shall be made for any exchange or registration of transfer of Securities, or issue of new Securities in case
of partial redemption of any series, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge
in relation thereto, other than exchanges pursuant to <U>Section&nbsp;2.06</U>, <U>Section&nbsp;3.03(b)</U>&nbsp;and <U>Section&nbsp;9.04</U>
not involving any transfer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;The Company shall not be required (i)&nbsp;to issue, exchange
or register the transfer of any Securities during a period beginning at the opening of business 15 days before the day of the mailing
of a notice of redemption of less than all the Outstanding Securities of the same series and ending at the close of business on the day
of such mailing, nor (ii)&nbsp;to register the transfer of or exchange any Securities of any series or portions thereof called for redemption,
other than the unredeemed portion of any such Securities being redeemed in part. The provisions of this <U>Section&nbsp;2.05</U> are,
with respect to any Global Security, subject to <U>Section&nbsp;2.11</U> hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Trustee shall have no obligation or duty to monitor, determine
or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any
transfer of any interest in any Security (including any transfers between or among depositary participants or beneficial owners of interests
in any Global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly required
by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance
as to form with the express requirements hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Neither the Trustee nor any Agent shall have any responsibility or
liability for any actions taken or not taken by the Depositary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.06 <U>Temporary Securities</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pending the preparation of definitive Securities of any series, the
Company may execute, and the Trustee shall, upon receipt of a Company Order, authenticate and deliver, temporary Securities (printed,
lithographed or typewritten) of any authorized denomination. Such temporary Securities shall be substantially in the form of the definitive
Securities in lieu of which they are issued, but with such omissions, insertions and variations as may be appropriate for temporary Securities,
all as may be determined by the Company. Every temporary Security of any series shall be executed by the Company and be authenticated
by the Trustee upon the same conditions and in substantially the same manner, and with like effect, as the definitive Securities of such
series. Without unnecessary delay the Company will execute and will furnish definitive Securities of such series and thereupon any or
all temporary Securities of such series may be surrendered in exchange therefor (without charge to the holders), at the office or agency
of the Company designated for the purpose, and the Trustee shall, upon receipt of a Company Order, authenticate and such office or agency
shall deliver in exchange for such temporary Securities an equal aggregate principal amount of definitive Securities of such series, unless
the Company advises the Trustee to the effect that definitive Securities need not be executed and furnished until further notice from
the Company. Until so exchanged, the temporary Securities of such series shall be entitled to the same benefits under this Indenture as
definitive Securities of such series authenticated and delivered hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.07 <U>Mutilated, Destroyed, Lost or Stolen Securities</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In case any temporary or definitive Security shall become mutilated
or be destroyed, lost or stolen, the Company (subject to the next succeeding sentence) shall execute, and upon receipt of a Company Order
the Trustee (subject as aforesaid) shall authenticate and deliver, a new Security of the same series, bearing a number not contemporaneously
outstanding, in exchange and substitution for the mutilated Security, or in lieu of and in substitution for the Security so destroyed,
lost or stolen. In every case the applicant for a substituted Security shall furnish to the Company and the Trustee such security or indemnity
as may be required by them to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also furnish
to the Company and the Trustee evidence to their satisfaction of the destruction, loss or theft of the applicant&rsquo;s Security and
of the ownership thereof. The Trustee may authenticate any such substituted Security and deliver the same upon receipt of a Company Order.
Upon the issuance of any substituted Security, the Company may require the payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In case any Security that has or is about to become due and payable,
whether upon maturity of the Securities of a series or upon declaration or otherwise shall become mutilated or be destroyed, lost or stolen,
the Company may, instead of issuing a substitute Security, pay or authorize the payment of the same (without surrender thereof except
in the case of a mutilated Security) if the applicant for such payment shall furnish to the Company and the Trustee such security or indemnity
as they may require to save them harmless, and, in case of destruction, loss or theft, evidence to the satisfaction of the Company and
the Trustee of the destruction, loss or theft of such Security and of the ownership thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Every replacement Security issued pursuant to the provisions of this
Section&nbsp;shall constitute an additional contractual obligation of the Company whether or not the mutilated, destroyed, lost or stolen
Security shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally
and proportionately with any and all other Securities of the same series duly issued hereunder. All Securities shall be held and owned
upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, destroyed,
lost or stolen Securities, and shall preclude (to the extent lawful) any and all other rights or remedies, notwithstanding any law or
statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments or other securities
without their surrender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.08 <U>Cancellation</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All Securities surrendered for the purpose of payment, redemption,
exchange or registration of transfer shall, if surrendered to the Company or any paying agent, be delivered to the Trustee for cancellation,
or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except as expressly required
or permitted by any of the provisions of this Indenture. On written request of the Company at the time of such surrender, the Trustee
shall deliver to the Company evidence of cancellation for such canceled Securities held by the Trustee. The Trustee shall cancel and dispose
of canceled Securities in accordance with its standard procedures. If the Company shall otherwise acquire any of the Securities, however,
such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until
the same are delivered to the Trustee for cancellation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.09 <U>Benefits of Indenture</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nothing in this Indenture or in the Securities, express or implied,
shall give or be construed to give to any Person, other than the parties hereto and the holders of the Securities (and, with respect to
the provisions of <U>Article&nbsp;14</U>, the holders of any indebtedness of the Company to which the Securities of any series are subordinated)
any legal or equitable right, remedy or claim under or in respect of this Indenture, or under any covenant, condition or provision herein
contained; all such covenants, conditions and provisions being for the sole benefit of the parties hereto and of the holders of the Securities
(and, with respect to the provisions of <U>Article&nbsp;14</U>, the holders of any indebtedness of the Company to which the Securities
of any series are subordinated).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.10 <U>Authenticating Agent</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">So long as any of the Securities of any series remain Outstanding there
may be an Authenticating Agent for any or all such series of Securities which the Trustee shall have the right to appoint. Said Authenticating
Agent shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon exchange, transfer or
partial redemption thereof, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and
obligatory for all purposes as if authenticated by the Trustee hereunder. All references in this Indenture to the authentication of Securities
by the Trustee shall be deemed to include authentication by an Authenticating Agent for such series. Each Authenticating Agent shall be
acceptable to the Company and shall be a corporation that has a combined capital and surplus, as most recently reported or determined
by it, sufficient under the laws of any jurisdiction under which it is organized or in which it is doing business to conduct a trust business,
and that is otherwise authorized under such laws to conduct such business and is subject to supervision or examination by federal or state
authorities. If at any time any Authenticating Agent shall cease to be eligible in accordance with these provisions, it shall resign immediately.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any Authenticating Agent may at any time resign by giving written notice
of resignation to the Trustee and to the Company. The Trustee may at any time (and upon request by the Company shall) terminate the agency
of any Authenticating Agent by giving written notice of termination to such Authenticating Agent and to the Company. Upon resignation,
termination or cessation of eligibility of any Authenticating Agent, the Trustee may appoint an eligible successor Authenticating Agent
acceptable to the Company. Any successor Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested with
all the rights, powers and duties of its predecessor hereunder as if originally named as an Authenticating Agent pursuant hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;2.11 <U>Global Securities</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;If the Company shall establish pursuant to <U>Section&nbsp;2.01</U>
that the Securities of a particular series are to be issued as a Global Security, then the Company shall execute and the Trustee shall,
in accordance with <U>Section&nbsp;2.04</U>, authenticate and deliver, a Global Security that (i)&nbsp;shall represent, and shall be denominated
in an amount equal to the aggregate principal amount of, all of the Outstanding Securities of such series, (ii)&nbsp;shall be registered
in the name of the Depositary or its nominee, (iii)&nbsp;shall be delivered by the Trustee to the Depositary or held by it, pursuant to
the Depositary&rsquo;s instruction and (iv)&nbsp;shall bear a legend substantially to the following effect: &ldquo;Except as otherwise
provided in <U>Section&nbsp;2.11</U> of the Indenture, this Security may be transferred, in whole but not in part, only to another nominee
of the Depositary or to a successor Depositary or to a nominee of such successor Depositary.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;Notwithstanding the provisions of <U>Section&nbsp;2.05</U>,
the Global Security of a series may be transferred, in whole but not in part and in the manner provided in <U>Section&nbsp;2.05</U>, only
to another nominee of the Depositary for such series, or to a successor Depositary for such series selected or approved by the Company
or to a nominee of such successor Depositary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;If at any time the Depositary for a series of the Securities
notifies the Company that it is unwilling or unable to continue as Depositary for such series or if at any time the Depositary for such
series shall no longer be registered or in good standing under the Exchange Act, or other applicable statute or regulation, and a successor
Depositary for such series is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such
condition, as the case may be, or if an Event of Default has occurred and is continuing and the Company has received a request from the
Depositary or from the Trustee, this <U>Section&nbsp;2.11</U> shall no longer be applicable to the Securities of such series and the Company
will execute, and subject to <U>Section&nbsp;2.04</U>, the Trustee will authenticate and deliver the Securities of such series in definitive
registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the
Global Security of such series in exchange for such Global Security. In addition, the Company may at any time determine that the Securities
of any series shall no longer be represented by a Global Security and that the provisions of this <U>Section&nbsp;2.11</U> shall no longer
apply to the Securities of such series. In such event the Company will execute and, subject to <U>Section&nbsp;2.04</U>, the Trustee,
upon receipt of an Officer&rsquo;s Certificate and a Company Order evidencing such determination by the Company, will authenticate and
deliver the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate
principal amount equal to the principal amount of the Global Security of such series in exchange for such Global Security. Upon the exchange
of the Global Security for such Securities in definitive registered form without coupons, in authorized denominations, the Global Security
shall be canceled by the Trustee. Such Securities in definitive registered form issued in exchange for the Global Security pursuant to
this <U>Section&nbsp;2.11(c)</U>&nbsp;shall be registered in such names and in such authorized denominations as the Depositary, pursuant
to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee in writing. The Trustee shall deliver
such Securities to the Depositary for delivery to the Persons in whose names such Securities are so registered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;3.01 <U>Redemption</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company may redeem the Securities of any series issued hereunder
on and after the dates and in accordance with the terms established for such series pursuant to <U>Section&nbsp;2.01</U> hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;3.02 <U>Notice of Redemption</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;In case the Company shall desire to exercise such right to
redeem all or, as the case may be, a portion of the Securities of any series in accordance with any right the Company reserved for itself
to do so pursuant to <U>Section&nbsp;2.01</U> hereof, the Company shall, or shall cause the Trustee (upon 5 Business Days written notice,
unless a shorter period shall be satisfactory to the Trustee) to, give notice of such redemption to holders of the Securities of such
series to be redeemed by mailing, electronically or by first class postage prepaid mail, a notice of such redemption not less than 15
days and not more than 90 days, except that redemption notices may be sent more than 90 days prior to the redemption date if the notice
is issued in connection with a defeasance of the Securities or a satisfaction and discharge, before the date fixed for redemption of that
series to such holders (with a copy to the Trustee) at their last addresses as they shall appear upon the Security Register, unless a
shorter period is specified in the Securities to be redeemed. Any notice that is mailed in the manner herein provided shall be conclusively
presumed to have been duly given, whether or not the registered holder receives the notice. In any case, failure duly to give such notice
to the holder of any Security of any series designated for redemption in whole or in part, or any defect in the notice, shall not affect
the validity of the proceedings for the redemption of any other Securities of such series or any other series. In the case of any redemption
of Securities prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this
Indenture, the Company shall furnish the Trustee with an Officer&rsquo;s Certificate evidencing compliance with any such restriction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each such notice of redemption shall specify the date fixed for redemption,
if applicable, any record date with respect to such redemption and the redemption price at which Securities of that series are to be redeemed,
and shall state that payment of the redemption price of such Securities to be redeemed will be made at the office or agency of the Company,
upon presentation and surrender of such Securities, that interest accrued to the date fixed for redemption will be paid as specified in
said notice, that from and after said date interest will cease to accrue and that the redemption is from a sinking fund, if such is the
case. If less than all the Securities of a series are to be redeemed, the notice to the holders of Securities of that series to be redeemed
in part shall specify the particular Securities to be so redeemed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In case any Security is to be redeemed in part only, the notice that
relates to such Security shall state the portion of the principal amount thereof to be redeemed, and shall state that on and after the
redemption date, upon surrender of such Security, a new Security or Securities of such series in principal amount equal to the unredeemed
portion thereof will be issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;If less than all the Securities of a series are to be redeemed,
the Company shall give the Trustee at least 20 days&rsquo; notice (unless a shorter notice shall be satisfactory to the Trustee) in advance
of the date fixed for redemption as to the aggregate principal amount of Securities of the series to be redeemed, and thereupon the Trustee
shall select, by lot or in such other manner as it shall deem appropriate and fair in its discretion (and subject to the applicable procedures
of the Depositary) and that may provide for the selection of a portion or portions (equal to one thousand U.S. dollars ($1,000) or any
integral multiple thereof) of the principal amount of such Securities of a denomination larger than $1,000, the Securities to be redeemed
and shall thereafter promptly notify the Company in writing of the numbers of the Securities to be redeemed, in whole or in part. The
Company may, if and whenever it shall so elect, by delivery of instructions signed on its behalf by an Officer, instruct the Trustee or
any paying agent to call all or any part of the Securities of a particular series for redemption and to send notice of redemption in the
manner set forth in this Section, such notice to be in the name and at the expense of the Company. In any case in which notice of redemption
is to be sent by the Trustee or any such paying agent, the Company shall deliver or cause to be delivered to, or permit to remain with,
the Trustee or such paying agent, as the case may be, such Security Register, transfer books or other records, or suitable copies or extracts
therefrom, sufficient to enable the Trustee or such paying agent to give any notice by mail that may be required under the provisions
of this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;3.03 <U>Payment Upon Redemption</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;If the giving of notice of redemption shall have been completed
as above provided, the Securities or portions of Securities of the series to be redeemed specified in such notice shall become due and
payable on the date and at the place stated in such notice at the applicable redemption price, together with interest accrued to the date
fixed for redemption and interest on such Securities or portions of Securities shall cease to accrue on and after the date fixed for redemption,
unless the Company shall default in the payment of such redemption price and accrued interest with respect to any such Security or portion
thereof. On presentation and surrender of such Securities on or after the date fixed for redemption at the place of payment specified
in the notice, said Securities shall be paid and redeemed at the applicable redemption price for such series, together with interest accrued
thereon to the date fixed for redemption (but if the date fixed for redemption is an interest payment date, the interest installment payable
on such date shall be payable to the registered holder at the close of business on the applicable record date pursuant to <U>Section&nbsp;2.03</U>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;Upon presentation of any physical Security of such series
that is to be redeemed in part only, the Company shall execute and the Trustee shall authenticate and the office or agency where the Security
is presented shall deliver to the holder thereof, at the expense of the Company, a new Security of the same series of authorized denominations
in principal amount equal to the unredeemed portion of the Security so presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;3.04 <U>Sinking Fund</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The provisions of <U>Sections 3.04</U>, <U>3.05</U> and <U>3.06</U>
shall be applicable to any sinking fund for the retirement of Securities of a series, except as otherwise specified as contemplated by
<U>Section&nbsp;2.01</U> for Securities of such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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 sinking fund payment may be subject to reduction as provided
in <U>Section&nbsp;3.05</U>. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for
by the terms of Securities of such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;3.05 <U>Satisfaction of Sinking Fund Payments with Securities</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company (i)&nbsp;may deliver Outstanding Securities of a series
and (ii)&nbsp;may apply as a credit Securities of a series that have been redeemed either at the election of the Company pursuant to the
terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities,
in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series required to
be made pursuant to the terms of such Securities as provided for by the terms of such series, <I>provided</I> that such Securities have
not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the redemption price
specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be
reduced accordingly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;3.06 <U>Redemption of Securities for Sinking Fund</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not less than 45 days prior to each sinking fund payment date for any
series of Securities (unless a shorter period shall be satisfactory to the Trustee), the Company will deliver to the Trustee an Officer&rsquo;s
Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of the series, the portion
thereof, if any, that is to be satisfied by delivering and crediting Securities of that series pursuant to <U>Section&nbsp;3.05</U> and
the basis for such credit and will, together with such Officer&rsquo;s Certificate, deliver to the Trustee any Securities to be so delivered.
Not less than 30 days before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking
fund payment date in the manner specified in <U>Section&nbsp;3.02</U> and cause notice of the redemption thereof to be given in the name
of and at the expense of the Company in the manner provided in <U>Section&nbsp;3.02</U>. Such notice having been duly given, the redemption
of such Securities shall be made upon the terms and in the manner stated in <U>Section&nbsp;3.03</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>ARTICLE&nbsp;4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>COVENANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;4.01 <U>Payment of Principal, Premium and Interest</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company will duly and punctually pay or cause to be paid the principal
of (and premium, if any) and interest on the Securities of that series at the time and place and in the manner provided herein and established
with respect to such Securities. Payments of principal on the physical Securities may be made at the time provided herein and established
with respect to such Securities by U.S. dollar check drawn on and mailed to the address of the Securityholder entitled thereto as such
address shall appear in the Security Register, or U.S. dollar wire transfer to, a U.S. dollar account if such Securityholder shall have
furnished wire instructions to the Trustee no later than 15 days prior to the relevant payment date. Payments of interest on the Securities
may be made at the time provided herein and established with respect to such Securities by U.S. dollar check mailed to the address of
the Securityholder entitled thereto as such address shall appear in the Security Register, or U.S. dollar wire transfer to an account
in the United States if such Securityholder shall have furnished wire instructions in writing to the Security Registrar and the Trustee
no later than 15 days prior to the relevant payment date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;4.02 <U>Maintenance of Office or Agency</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">So long as any series of the Securities remain Outstanding, the Company
agrees to maintain an office or agency with respect to each such series and at such other location or locations as may be designated as
provided in this <U>Section&nbsp;4.02</U>, where (i)&nbsp;Securities of that series may be presented for payment, (ii)&nbsp;Securities
of that series may be presented as herein above authorized for registration of transfer and exchange, and (iii)&nbsp;notices in respect
of the Securities of that series and this Indenture may be given or made, such designation to continue with respect to such office or
agency until the Company shall, by written notice in an Officer&rsquo;s Certificate and delivered to the Trustee, designate some other
office or agency for such purposes or any of them. If at any time the Company shall fail to maintain any such required office or agency
or shall fail to furnish the Trustee with the address thereof, such presentations and notices may be made at the Corporate Trust Office
of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations and notices; provided, however,
the Trustee shall not be considered an agent of the Company for service of process.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;4.03 <U>Paying Agents</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;If the Company shall appoint one or more paying agents for
all or any series of the Securities, other than the Trustee, the Company will cause each such paying agent to execute and deliver to the
Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;that it will hold all sums held by it as such agent for the
payment of the principal of (and premium, if any) or interest on the Securities of that series (whether such sums have been paid to it
by the Company or by any other obligor of such Securities) in trust for the benefit of the Persons entitled thereto;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2)&nbsp;that it will give the Trustee notice of any failure by the
Company (or by any other obligor of such Securities) to make any payment of the principal of (and premium, if any) or interest on the
Securities of that series when the same shall be due and payable;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3)&nbsp;that it will, at any time during the continuance of any failure
referred to in the preceding paragraph (a)(2)&nbsp;above, upon the written request of the Trustee, forthwith pay to the Trustee all sums
so held in trust by such paying agent;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(4)&nbsp;that upon any receivership, insolvency, liquidation, bankruptcy,
reorganization, readjustment, arrangement, composition or judicial proceedings affecting the Company, the Trustee will automatically be
the Paying Agent; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(5)&nbsp;that it will perform all other duties of paying agent as set
forth in this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;If the Company shall act as its own paying agent with respect
to any series of the Securities, it will on or before each due date of the principal of (and premium, if any) or interest on Securities
of that series, set aside, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay such principal
(and premium, if any) or interest so becoming due on Securities of that series until such sums shall be paid to such Persons or otherwise
disposed of as herein provided and will promptly notify the Trustee of such action, or any failure (by it or any other obligor on such
Securities) to take such action. Whenever the Company shall have one or more paying agents for any series of Securities, it will, prior
to each due date of the principal of (and premium, if any) or interest on any Securities of that series, deposit with the paying agent
a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit
of the Persons entitled to such principal, premium or interest, and (unless such paying agent is the Trustee) the Company will promptly
notify the Trustee of this action or failure so to act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;Notwithstanding anything in this Section&nbsp;to the contrary,
(i)&nbsp;the agreement to hold sums in trust as provided in this Section&nbsp;is subject to the provisions of <U>Section&nbsp;11.05</U>,
and (ii)&nbsp;the Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other
purpose, pay, or direct any paying agent to pay, to the Trustee all sums held in trust by the Company or such paying agent, such sums
to be held by the Trustee upon the same terms and conditions as those upon which such sums were held by the Company or such paying agent;
and, upon such payment by the Company or any paying agent to the Trustee, the Company or such paying agent shall be released from all
further liability with respect to such money.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;The Company initially appoints the Trustee at its Corporate
Trust Office as its paying agent with respect to the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;4.04 <U>Appointment to Fill Vacancy in Office of Trustee</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company, whenever necessary to avoid or fill a vacancy in the office
of Trustee, will appoint, in the manner provided in <U>Section&nbsp;7.10</U>, a Trustee, so that there shall at all times be a Trustee
hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;4.05 <U>Compliance with Consolidation Provisions</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company will not, while any of the Securities remain Outstanding,
consolidate with or merge into any other Person, in either case where the Company is not the survivor of such transaction, or sell or
convey all or substantially all of its property to any other Person unless the provisions of <U>Article&nbsp;10</U> hereof are complied
with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;5</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITYHOLDERS&rsquo; LISTS AND REPORTS BY
THE COMPANY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AND THE TRUSTEE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;5.01 <U>Company to Furnish Trustee Names and Addresses
of Securityholders</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company will furnish or cause to be furnished to the Trustee (a)&nbsp;within
5 days after each regular record date (as defined in <U>Section&nbsp;2.03</U>) a list, in such form as the Trustee may reasonably require,
of the names and addresses of the holders of each series of Securities as of such regular record date, <I>provided</I> that the Company
shall not be obligated to furnish or cause to be furnished such list at any time that the list shall not differ in any respect from the
most recent list furnished to the Trustee by the Company and (b)&nbsp;at such other times as the Trustee may request in writing within
30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior
to the time such list is furnished; <I>provided</I>, <I>however</I>, that, in either case, no such list need be furnished for any series
for which the Trustee shall be the Security Registrar.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;5.02 <U>Preservation Of Information; Communications With
Securityholders</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;The Trustee shall preserve, in as current a form as is reasonably
practicable, all information as to the names and addresses of the holders of Securities contained in the most recent list furnished to
it as provided in <U>Section&nbsp;5.01</U> and as to the names and addresses of holders of Securities received by the Trustee in its capacity
as Security Registrar (if acting in such capacity).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;The Trustee may destroy any list furnished to it as provided
in <U>Section&nbsp;5.01</U> upon receipt of a new list so furnished.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;Securityholders may communicate as provided in Section&nbsp;312(b)&nbsp;of
the Trust Indenture Act with other Securityholders with respect to their rights under this Indenture or under the Securities, and, in
connection with any such communications, the Trustee shall satisfy its obligations under Section&nbsp;312(b)&nbsp;of the Trust Indenture
Act in accordance with the provisions of Section&nbsp;312(b)&nbsp;of the Trust Indenture Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;5.03 <U>Reports by the Company</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;The Company covenants and agrees to provide (which delivery
may be via electronic mail) to the Trustee within 30 days, after the Company files the same with the Commission, copies of the annual
reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may
from time to time by rules&nbsp;and regulations prescribe) that the Company is required to file with the Commission pursuant to Section&nbsp;13
or Section&nbsp;15(d)&nbsp;of the Exchange Act; <I>provided</I>, <I>however</I>, the Company shall not be required to deliver to the Trustee
any materials for which the Company has sought and received confidential treatment by the Commission; and <I>provided further</I>, that
so long as such filings by the Company are available on the Commission&rsquo;s Electronic Data Gathering, Analysis and Retrieval System
(EDGAR), or Interactive Data Electronic Applications (IDEA), or any successor system, such filings shall be deemed to have been filed
with the Trustee for purposes hereof without any further action required by the Company; <I>provided</I> that an electronic link to such
filing, together with an electronic notice of such filing have been sent to the Trustee it being understood that the Trustee shall have
no responsibility to determine whether such filings have been made. For the avoidance of doubt, a failure by the Company to file annual
reports, information and other reports with the Commission within the time period prescribed thereof by the Commission shall not be deemed
a breach of this <U>Section&nbsp;5.03</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;Delivery of reports, information and documents to the Trustee
under <U>Section&nbsp;5.03</U> is for informational purposes only and the information and the Trustee&rsquo;s receipt of the foregoing
shall not constitute constructive notice of any information contained therein, or determinable from information contained therein including
the Company&rsquo;s compliance with any of their covenants thereunder (as to which the Trustee is entitled to rely exclusively on an Officer&rsquo;s
Certificate).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;5.04 <U>Reports by the Trustee</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;If required by Section&nbsp;313(a)&nbsp;of the Trust Indenture
Act, the Trustee, within sixty (60) days after each May&nbsp;15, commencing the calendar year after the year in which the first Securities
are issued hereunder, shall transmit by mail, first class postage prepaid, to the Securityholders, as their names and addresses appear
upon the Security Register, a brief report dated as of such May&nbsp;15, which complies with Section&nbsp;313(a)&nbsp;of the Trust Indenture
Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;The Trustee shall comply with Section&nbsp;313(b)&nbsp;and
313(c)&nbsp;of the Trust Indenture Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;A copy of each such report shall, at the time of such transmission
to Securityholders, be filed by the Trustee with the Company, with each securities exchange upon which any Securities are listed (if so
listed) and also with the Commission. The Company agrees to notify the Trustee in writing when any Securities become listed on any securities
exchange or of any delisting thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;6</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS
ON</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EVENT OF DEFAULT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;6.01 <U>Events of Default</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;Whenever used herein with respect to Securities of a particular
series, &ldquo;<B>Event of Default</B>&rdquo; means any one or more of the following events that has occurred and is continuing:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;the Company defaults in the payment of any installment of
interest upon any of the Securities of that series, as and when the same shall become due and payable, and such default continues for
a period of 90 days; <I>provided</I>, <I>however</I>, that a valid extension of an interest payment period by the Company in accordance
with the terms of any indenture supplemental hereto shall not constitute a default in the payment of interest for this purpose;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2)&nbsp;the Company defaults in the payment of the principal of (or
premium, if any, on) any of the Securities of that series as and when the same shall become due and payable whether at maturity, upon
redemption, by declaration or otherwise, or in any payment required by any sinking or analogous fund established with respect to that
series; <I>provided</I>, <I>however</I>, that a valid extension of the maturity of such Securities in accordance with the terms of any
indenture supplemental hereto shall not constitute a default in the payment of principal or premium, if any;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3)&nbsp;the Company fails to observe or perform any other of its covenants
or agreements with respect to that series contained in this Indenture or otherwise established with respect to that series of Securities
pursuant to <U>Section&nbsp;2.01</U> hereof (other than a covenant or agreement that has been expressly included in this Indenture solely
for the benefit of one or more series of Securities other than such series) for a period of 90 days after the date on which written notice
of such failure, requiring the same to be remedied and stating that such notice is a &ldquo;<B>Notice of Default</B>&rdquo; hereunder,
shall have been given to the Company by the Trustee or to the Company and the Trustee by the holders of at least 25% in principal amount
of the Securities of that series at the time Outstanding;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(4)&nbsp;the Company pursuant to or within the meaning of any Bankruptcy
Law (i)&nbsp;commences a voluntary case, (ii)&nbsp;consents to the entry of an order for relief against it in an involuntary case, (iii)&nbsp;consents
to the appointment of a Custodian of it or for all or substantially all of its property or (iv)&nbsp;makes a general assignment for the
benefit of its creditors; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(5)&nbsp;a court of competent jurisdiction enters an order under any
Bankruptcy Law that (i)&nbsp;is for relief against the Company in an involuntary case, (ii)&nbsp;appoints a Custodian of the Company for
all or substantially all of its property or (iii)&nbsp;orders the liquidation of the Company, and the order or decree remains unstayed
and in effect for 90 days.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;In each and every such case (other than an Event of Default
specified in clause (4)&nbsp;or clause (5)&nbsp;above), unless the principal of all the Securities of that series shall have already become
due and payable, either the Trustee or the holders of not less than 25% in aggregate principal amount of the Securities of that series
then Outstanding hereunder, by notice in writing to the Company (and to the Trustee if given by such Securityholders), may declare the
principal of (and premium, if any, on) and accrued and unpaid interest on all the Securities of that series to be due and payable immediately,
and upon any such declaration the same shall become and shall be immediately due and payable. If an Event of Default specified in clause
(4)&nbsp;or clause (5)&nbsp;above occurs, the principal of and accrued and unpaid interest on all the Securities of that series shall
automatically be immediately due and payable without any declaration or other act on the part of the Trustee or the holders of the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;At any time after the principal of (and premium, if any, on)
and accrued and unpaid interest on the Securities of that series shall have been so declared due and payable, and before any judgment
or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the holders of a majority in
aggregate principal amount of the Securities of that series then Outstanding hereunder, by written notice to the Company and the Trustee,
may rescind and annul such declaration and its consequences if: (i)&nbsp;the Company has paid or deposited with the Trustee a sum sufficient
to pay all matured installments of interest upon all the Securities of that series and the principal of (and premium, if any, on) any
and all Securities of that series that shall have become due otherwise than by acceleration (with interest upon such principal and premium,
if any, and, to the extent that such payment is enforceable under applicable law, upon overdue installments of interest, at the rate per
annum expressed in the Securities of that series to the date of such payment or deposit) and the amount payable to the Trustee under <U>Section&nbsp;7.06</U>,
and (ii)&nbsp;any and all Events of Default under the Indenture with respect to such series, other than the nonpayment of principal on
(and premium, if any, on) and accrued and unpaid interest on Securities of that series that shall not have become due by their terms,
shall have been remedied or waived as provided in <U>Section&nbsp;6.06</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">No such rescission and annulment shall extend to or shall affect any
subsequent default or impair any right consequent thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;In case the Trustee shall have proceeded to enforce any right
with respect to Securities of that series under this Indenture and such proceedings shall have been discontinued or abandoned because
of such rescission or annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such
case, subject to any determination in such proceedings, the Company and the Trustee shall be restored respectively to their former positions
and rights hereunder, and all rights, remedies and powers of the Company and the Trustee shall continue as though no such proceedings
had been taken.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;6.02 <U>Collection of Indebtedness and Suits for Enforcement
by Trustee</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;The Company covenants that if an Event of Default described
in Section&nbsp;6.01(a)&nbsp;or 6.01(b)&nbsp;shall have occurred with respect to the Securities of any series, the Company will pay to
the Trustee, for the benefit of the holders of the Securities of that series, the whole amount that then shall have been become due and
payable on all such Securities for principal (and premium, if any) or interest, or both, as the case may be, with interest upon the overdue
principal (and premium, if any) and (to the extent that payment of such interest is enforceable under applicable law) upon overdue installments
of interest at the rate per annum expressed in the Securities of that series; and, in addition thereto, such further amount as shall be
sufficient to cover the costs and expenses of collection, and the amount payable to the Trustee under <U>Section&nbsp;7.06</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;If the Company shall fail to pay such amounts forthwith upon
such demand, the Trustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action
or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceeding to
judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon the Securities of
that series and collect the moneys adjudged or decreed to be payable in the manner provided by law or equity out of the property of the
Company or other obligor upon the Securities of that series, wherever situated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;In case of any receivership, insolvency, liquidation, bankruptcy,
reorganization, readjustment, arrangement, composition or judicial proceedings affecting the Company, or its creditors or property, irrespective
of whether the Trustee shall have made any demand pursuant to this Section&nbsp;6.02, the Trustee shall have power to intervene in such
proceedings and take any action therein that may be permitted by the court and shall (except as may be otherwise provided by law) be entitled
to file such proofs of claim and other papers and documents as may be necessary or advisable in order to have the claims of the Trustee
and of the holders of Securities of such series allowed for the entire amount due and payable by the Company under the Indenture at the
date of institution of such proceedings and for any additional amount that may become due and payable by the Company after such date,
and to collect and receive any moneys or other property payable or deliverable on any such claim, and to distribute the same after the
deduction of the amount payable to the Trustee under <U>Section&nbsp;7.06</U>; and any receiver, assignee or trustee in bankruptcy or
reorganization is hereby authorized by each of the holders of Securities of such series to make such payments to the Trustee, and, in
the event that the Trustee shall consent to the making of such payments directly to such Securityholders, to pay to the Trustee any amount
due it under <U>Section&nbsp;7.06</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;All rights of action and of asserting claims under this Indenture,
or under any of the terms established with respect to Securities of that series, may be enforced by the Trustee without the possession
of any of such Securities, or the production thereof at any trial or other proceeding relative thereto, and any such suit or proceeding
instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision
for payment to the Trustee of any amounts due under <U>Section&nbsp;7.06</U>, be for the ratable benefit of the holders of the Securities
of such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In case of an Event of Default hereunder, the Trustee may in its discretion
proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee shall
deem most effectual to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise, whether for the
specific enforcement of any covenant or agreement contained in the Indenture or in aid of the exercise of any power granted in this Indenture,
or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nothing contained herein shall be deemed to authorize the Trustee to
authorize or consent to or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition
affecting the Securities of that series or the rights of any holder thereof or to authorize the Trustee to vote in respect of the claim
of any Securityholder in any such proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;6.03 <U>Application of Moneys Collected</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any moneys or properties collected by the Trustee pursuant to this
Article&nbsp;with respect to a particular series of Securities shall be applied in the following order, at the date or dates fixed by
the Trustee and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation
of the Securities of that series, and notation thereon of the payment, if only partially paid, and upon surrender thereof if fully paid:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>FIRST</B>: To the payment of all indebtedness of the Company to
which such series of Securities is subordinated to the extent required by <U>Section&nbsp;7.06</U> and any subordination terms of the
series specified as contemplated by <U>Article&nbsp;14</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECOND</B>: To the payment of the amounts then due and unpaid upon
Securities of such series for principal (and premium, if any) and interest, in respect of which or for the benefit of which such money
has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for
principal (and premium, if any) and interest, respectively; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THIRD</B>: To the payment of the remainder, if any, to the Company
or any other Person lawfully entitled thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;6.04 <U>Limitation on Suits</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">No holder of any Security of any series shall have any right by virtue
or by availing of any provision of this Indenture to institute any suit, action or proceeding in equity or at law upon or under or with
respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless (i)&nbsp;such holder
previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof with respect to the Securities
of such series specifying such Event of Default, as hereinbefore provided; (ii)&nbsp;the holders of not less than 25% in aggregate principal
amount of the Securities of such series then Outstanding shall have made written request upon the Trustee to institute such action, suit
or proceeding in its own name as Trustee hereunder; (iii)&nbsp;such holder or holders shall have offered to the Trustee such indemnity
reasonably satisfactory to it as it may require against the costs, expenses, claims and liabilities to be incurred therein or thereby;
(iv)&nbsp;the Trustee for 90 days after its receipt of such notice, request and offer of indemnity, shall have failed to institute any
such action, suit or proceeding and (v)&nbsp;during such 90 day period, the holders of a majority in principal amount of the Securities
of that series do not give the Trustee a direction inconsistent with the request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Notwithstanding anything contained herein to the contrary or any other
provisions of this Indenture, the right of any holder of any Security to receive payment of the principal of (and premium, if any) and
interest on such Security, as therein provided, on or after the respective due dates expressed in such Security (or in the case of redemption,
on the redemption date), or to institute suit for the enforcement of any such payment on or after such respective dates or redemption
date, shall not be impaired or affected without the consent of such holder and by accepting a Security hereunder it is expressly understood,
intended and covenanted by the taker and holder of every Security of such series with every other such taker and holder and the Trustee,
that no one or more holders of Securities of such series shall have any right in any manner whatsoever by virtue or by availing of any
provision of this Indenture to affect, disturb or prejudice the rights of the holders of any other of such Securities, or to obtain or
seek to obtain priority over or preference to any other such holder, or to enforce any right under this Indenture (it being understood
that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to
such holders), except in the manner herein provided and for the equal, ratable and common benefit of all holders of Securities of such
series. For the protection and enforcement of the provisions of this Section, each and every Securityholder and the Trustee shall be entitled
to such relief as can be given either at law or in equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;6.05 <U>Rights and Remedies Cumulative; Delay or Omission
Not Waiver</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;Except as otherwise provided in <U>Section&nbsp;2.07</U>,
all powers and remedies given by this Article&nbsp;to the Trustee or to the Securityholders shall, to the extent permitted by law, be
deemed cumulative and not exclusive of any other powers and remedies available to the Trustee or the holders of the Securities, by judicial
proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this Indenture or otherwise
established with respect to such Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;No delay or omission of the Trustee or of any holder of any
of the Securities to exercise any right or power accruing upon any Event of Default occurring and continuing as aforesaid shall impair
any such right or power, or shall be construed to be a waiver of any such default or an acquiescence therein; and, subject to the provisions
of <U>Section&nbsp;6.04</U>, every power and remedy given by this Article&nbsp;or by law to the Trustee or the Securityholders may be
exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Securityholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;6.06 <U>Control by Securityholders</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The holders of a majority in aggregate principal amount of the Securities
of any series at the time Outstanding, determined in accordance with <U>Section&nbsp;8.04</U>, shall have the right to direct the time,
method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the
Trustee with respect to such series; <I>provided</I>, <I>however</I>, that such direction shall not be in conflict with any rule&nbsp;of
law or with this Indenture or subject the Trustee in its sole discretion to personal liability. The Trustee shall have the right to decline
to follow any such direction if the Trustee in good faith shall determine that the proceeding so directed, subject to the Trustee&rsquo;s
duties under the Trust Indenture Act, would involve the Trustee in personal liability or might be unduly prejudicial to the Securityholders
not involved in the proceeding. Prior to taking any action under this Indenture, the Trustee shall be entitled to indemnity or security
satisfactory to it against loss, liability or expense that may be caused by taking such action. The holders of a majority in aggregate
principal amount of the Securities of any series at the time Outstanding affected thereby, determined in accordance with <U>Section&nbsp;8.04</U>,
may on behalf of the holders of all of the Securities of such series waive any past default in the performance of any of the covenants
contained herein or established pursuant to <U>Section&nbsp;2.01</U> with respect to such series and its consequences, except a default
in the payment of the principal of, or premium, if any, or interest on, any of the Securities of that series as and when the same shall
become due by the terms of such Securities otherwise than by acceleration (unless such default has been cured and a sum sufficient to
pay all matured installments of interest and principal and any premium has been deposited with the Trustee (in accordance with <U>Section&nbsp;6.01(c)</U>).
Upon any such waiver, the default covered thereby shall be deemed to be cured for all purposes of this Indenture and the Company, the
Trustee and the holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively;
but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;6.07 <U>Undertaking to Pay Costs</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All parties to this Indenture agree, and each holder of any Securities
by such holder&rsquo;s acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for
the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it
as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in
its discretion assess reasonable costs, including reasonable attorneys&rsquo; fees, against any party litigant in such suit, having due
regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section&nbsp;shall
not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder, or group of Securityholders, holding more
than 10% in aggregate principal amount of the Outstanding Securities of any series, or to any suit instituted by any Securityholder for
the enforcement of the payment of the principal of (or premium, if any) or interest on any Security of such series, on or after the respective
due dates expressed in such Security or established pursuant to this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;7</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONCERNING THE TRUSTEE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.01 <U>Certain Duties and Responsibilities of Trustee</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;The Trustee, prior to the occurrence of an Event of Default
with respect to the Securities of a series and after the curing of all Events of Default with respect to the Securities of that series
that may have occurred, shall undertake to perform with respect to the Securities of such series such duties and only such duties as are
specifically set forth in this Indenture, and no implied covenants shall be read into this Indenture against the Trustee. In case an Event
of Default with respect to the Securities of a series has occurred (that has not been cured or waived), the Trustee shall exercise with
respect to Securities of that series such of the rights and powers vested in it by this Indenture, and use the same degree of care and
skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person&rsquo;s own affairs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;No provision of this Indenture shall be construed to relieve
the Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;prior to the occurrence of an Event of Default with respect
to the Securities of a series and after the curing or waiving of all such Events of Default with respect to that series that may have
occurred:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(A)&nbsp;the duties and obligations of the Trustee shall with respect
to the Securities of such series be determined solely by the express provisions of this Indenture, and the Trustee shall not be liable
with respect to the Securities of such series except for the performance of such duties and obligations as are specifically set forth
in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(B)&nbsp;in the absence of willful misconduct on the part of the Trustee,
the Trustee may with respect to the Securities of such series conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the requirements of this
Indenture; but in the case of any such certificates or opinions that by any provision hereof are specifically required to be furnished
to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of
this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2)&nbsp;the Trustee shall not be liable 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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3)&nbsp;the Trustee shall not be liable with respect to any action
taken or omitted to be taken by it in good faith in accordance with the direction of the holders of not less than a majority in principal
amount of the Securities of any series at the time Outstanding relating to the time, method and place of conducting any proceeding for
any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee under this Indenture with respect to
the Securities of that series; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(4)&nbsp;none of the provisions contained in this Indenture shall require
the Trustee to expend or risk its own funds or otherwise incur personal or financial liability in the performance of any of its duties
or in the exercise of any of its rights or powers if there is reasonable ground for believing that the repayment of such funds or liability
is not reasonably assured to it under the terms of this Indenture or adequate indemnity against such risk is not reasonably assured to
it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.02 <U>Certain Rights of Trustee</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Except as otherwise provided in <U>Section&nbsp;7.01</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;The Trustee may rely and shall be protected in acting or refraining
from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond,
security or other paper or document or other evidence of indebtedness believed by it to be genuine and to have been signed or presented
by the proper party or parties. The Trustee need not investigate any fact or matter stated in the document. The Trustee shall receive
and retain financial reports and statements of the Company to the extent provided herein, but shall have no duty to review or analyze
such reports or statements to determine compliance with covenants or other obligations of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;Any request, direction, order or demand of the Company mentioned
herein shall be sufficiently evidenced by a Board Resolution or an instrument signed in the name of the Company by any authorized Officer
of the Company (unless other evidence in respect thereof is specifically prescribed herein);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;The Trustee may consult with counsel of its selection and
the advice of such counsel or, if requested, any Opinion of Counsel shall be full and complete authorization and protection in respect
of any action taken or suffered or omitted hereunder in good faith and in reliance thereon;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;The Trustee shall be under no obligation to exercise any of
the rights or powers vested in it by this Indenture at the request, order or direction of any of the Securityholders pursuant to the provisions
of this Indenture, unless such Securityholders shall have offered (and if requested, provided) to the Trustee security or indemnity satisfactory
to it against the costs, expenses, claims and liabilities that may be incurred therein or thereby;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(e)&nbsp;The Trustee shall not be liable for any action taken or omitted
to be taken by it in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by
this Indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(f)&nbsp;The Trustee shall not be bound to make any investigation into
the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval,
bond, security, or other papers or documents or other evidence of indebtedness, unless requested in writing so to do by the holders of
not less than a majority in principal amount of the Outstanding Securities of the particular series affected thereby (determined as provided
in <U>Section&nbsp;8.04</U>); <I>provided</I>, <I>however</I>, that if the payment within a reasonable time to the Trustee of the costs,
expenses, claims or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not
reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require indemnity or
security satisfactory to it against such costs, expenses, claims or liabilities as a condition to so proceeding. The reasonable expense
of every such examination shall be paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon demand;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(g)&nbsp;The Trustee may execute any of the trusts or powers hereunder
or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any
misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(h)&nbsp;In no event shall the Trustee be responsible or liable for
any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond
its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances,
nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software
and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices
in the banking industry to resume performance as soon as practicable under the circumstances;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(i)&nbsp;In no event shall the Trustee be responsible or liable for
special, punitive, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective
of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(j)&nbsp;The permissive rights of the Trustee enumerated herein shall
not be construed as duties;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(k)&nbsp;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;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(l)&nbsp;The Trustee shall not be required to give any bond or surety
in respect of the performance of its powers and duties hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, the Trustee shall not be deemed to have knowledge of any
Default or Event of Default until a Responsible Officer of the Trustee shall have received written notification in the manner set forth
in this Indenture, and such notice references the Securities and this Indenture or a Responsible Officer of the Trustee shall have obtained
actual knowledge.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.03 <U>Trustee Not Responsible for Recitals or Issuance
or Securities</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;The recitals contained herein and in the Securities shall
be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;The Trustee makes no representations as to the validity or
sufficiency of this Indenture or of the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;The Trustee shall not be accountable for the use or application
by the Company of any of the Securities or of the proceeds of such Securities, or for the use or application of any moneys paid over by
the Trustee in accordance with any provision of this Indenture or established pursuant to <U>Section&nbsp;2.01</U>, or for the use or
application of any moneys received by any paying agent other than the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.04 <U>May&nbsp;Hold Securities</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Trustee or any paying agent or Security Registrar, in its individual
or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not Trustee, paying
agent or Security Registrar.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.05 <U>Moneys Held in Trust</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Subject to the provisions of <U>Section&nbsp;11.05</U>, all moneys
received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received,
but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest
on any moneys received by it hereunder except such as it may agree in writing with the Company to pay thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.06 <U>Compensation and Reimbursement</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;The Company covenants and agrees to pay to the Trustee, and
the Trustee shall be entitled to, such compensation (which shall not be limited by any provision of law in regard to the compensation
of a trustee of an express trust) as the Company and the Trustee may from time to time agree in writing, for all services rendered by
it in the execution of the trusts hereby created and in the exercise and performance of any of the powers and duties hereunder of the
Trustee, and, except as otherwise expressly provided herein, the Company will pay or reimburse the Trustee upon its request for all reasonable
and documented expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Indenture
(including the reasonable and documented fees and the expenses and disbursements of its counsel and of all Persons not regularly in its
employ), except any such expense, disbursement or advance as may arise from its negligence or willful misconduct. The Company also covenants
to indemnify the Trustee (and its officers, agents, directors and employees) for, and to hold it harmless against, any documented loss,
liability or expense, including reasonable and documented attorneys&rsquo; fees, incurred without negligence or willful misconduct on
the part of the Trustee and arising out of or in connection with the acceptance or administration of this trust, including the reasonable
and documented costs and expenses of defending itself against any claim of liability in the premises (whether asserted by the Company,
or any holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder,
or in connection with enforcing the provisions of this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;The obligations of the Company under this Section&nbsp;to
compensate and indemnify the Trustee and to pay or reimburse the Trustee for reasonable expenses, disbursements and advances shall constitute
indebtedness of the Company to which the Securities are subordinated. Such additional indebtedness shall be secured by a lien prior to
that of the Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust for the benefit
of the holders of particular Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;To ensure the Company&rsquo;s payment obligations in this
Section, the Trustee shall have a lien prior to the Securities on all funds or property held or collected by the Trustee, except that
held in trust to pay principal of, premium, if any, or interest on particular Securities. When the Trustee incurs expenses or renders
services in connection with an Event of Default specified in <U>Section&nbsp;6.01(a)(4)</U>&nbsp;or <U>(5)</U>, the expenses (including
the reasonable fees and expenses of its counsel) and the compensation for services in connection therewith are to constitute expenses
of administration under any Bankruptcy Law. The provisions of this <U>Section&nbsp;7.06</U> shall survive the termination of this Indenture
and the earlier resignation or removal of the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.07 <U>Reliance on Officer&rsquo;s Certificate or Opinion
of Counsel</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Except as otherwise provided in <U>Section&nbsp;7.01</U>, whenever
in the administration of the provisions of this Indenture the Trustee shall deem it reasonably necessary or desirable that a matter be
proved or established prior to taking or suffering or omitting to take any action hereunder, such matter (unless other evidence in respect
thereof be herein specifically prescribed) may, in the absence of negligence or willful misconduct on the part of the Trustee, be deemed
to be conclusively proved and established by an Officer&rsquo;s Certificate and Opinion of Counsel delivered to the Trustee and such certificate
and opinion, 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 to be taken by it under the provisions of this Indenture upon the faith thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.08 <U>Disqualification; Conflicting Interests</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the Trustee has or shall acquire any &ldquo;conflicting interest&rdquo;
within the meaning of Section&nbsp;310(b)&nbsp;of the Trust Indenture Act, the Trustee and the Company shall in all respects comply with
the provisions of Section&nbsp;310(b)&nbsp;of the Trust Indenture Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.09 <U>Corporate Trustee Required; Eligibility</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">There shall at all times be a Trustee with respect to the Securities
issued hereunder which shall at all times be a corporation organized and doing business under the laws of the United States of America
or any state or territory thereof or of the District of Columbia, or a corporation or other Person permitted to act as trustee by the
Commission, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least fifty million
U.S. dollars ($50,000,000), and subject to supervision or examination by federal, state, territorial, or District of Columbia authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If such corporation or other Person publishes reports of condition
at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of
this Section, the combined capital and surplus of such corporation or other Person shall be deemed to be its combined capital and surplus
as set forth in its most recent report of condition so published. The Company may not, nor may any Person directly or indirectly controlling,
controlled by, or under common control with the Company, serve as Trustee. In case at any time the Trustee shall cease to be eligible
in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified in
<U>Section&nbsp;7.10</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.10 <U>Resignation and Removal; Appointment of Successor</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;The Trustee or any successor hereafter appointed may at any
time resign with respect to the Securities of one or more series by giving written notice thereof to the Company and by transmitting notice
of resignation by electronic mail, or by first class postage prepaid mail, to the Securityholders of such series, as their names and addresses
appear upon the Security Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee with
respect to Securities of such series by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which
instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been
so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition
any court of competent jurisdiction for the appointment of a successor trustee with respect to Securities of such series, or any Securityholder
of that series who has been a bona fide holder of a Security or Securities for at least six months may on behalf of himself and all others
similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon after such notice, if
any, as it may deem proper and prescribe, appoint a successor trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;In case at any time any one of the following shall occur:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(i)&nbsp;the Trustee shall fail to comply with the provisions of <U>Section&nbsp;7.08</U>
after written request therefor by the Company or by any Securityholder who has been a bona fide holder of a Security or Securities for
at least six months; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(ii)&nbsp;the Trustee shall cease to be eligible in accordance with
the provisions of <U>Section&nbsp;7.09</U> and shall fail to resign after written request therefor by the Company or by any such Securityholder;
or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(iii)&nbsp;the Trustee shall become incapable of acting, or shall be
adjudged a bankrupt or insolvent, or commence a voluntary bankruptcy proceeding, or a receiver of the Trustee or of its property shall
be appointed or consented to, or any public officer shall take charge or control of the Trustee or of its property or affairs for the
purpose of rehabilitation, conservation or liquidation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">then, in any such case, the Company may remove the Trustee with respect
to all Securities and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one
copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or any Securityholder who
has been a bona fide holder of a Security or Securities for at least six months may, on behalf of that holder and all others similarly
situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such
court may thereupon after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;The holders of a majority in aggregate principal amount of
the Securities of any series at the time Outstanding may at any time remove the Trustee with respect to such series by so notifying the
Trustee and the Company and may appoint a successor Trustee for such series with the consent of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;Any resignation or removal of the Trustee and appointment
of a successor trustee with respect to the Securities of a series pursuant to any of the provisions of this Section&nbsp;shall become
effective upon acceptance of appointment by the successor trustee as provided in <U>Section&nbsp;7.11</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(e)&nbsp;Any successor trustee appointed pursuant to this Section&nbsp;may
be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee
with respect to the Securities of any particular series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.11 <U>Acceptance of Appointment By Successor</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;In case of the appointment hereunder of a successor trustee
with respect to all Securities, every such successor trustee so appointed shall execute, acknowledge and deliver to the Company and to
the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall
become effective and such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers,
trusts and duties of the retiring Trustee; but, on the request of the Company or the successor trustee, such retiring Trustee shall, upon
full payment of any amount then due it pursuant to <U>Section&nbsp;7.06</U>, execute and deliver an instrument transferring to such successor
trustee all the rights, powers, and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor trustee
all property and money held by such retiring Trustee hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;In case of the appointment hereunder of a successor trustee
with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor trustee with
respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor trustee
shall accept such appointment and which (i)&nbsp;shall contain such provisions as shall be necessary or desirable to transfer and confirm
to, and to vest in, each successor trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities
of that or those series to which the appointment of such successor trustee relates, (ii)&nbsp;shall contain such provisions as shall be
deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities
of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (iii)&nbsp;shall
add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the
trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute
such Trustees co-trustees of the same trust, that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart
from any trust or trusts hereunder administered by any other such Trustee and that no Trustee shall be responsible for any act or failure
to act on the part of any other Trustee hereunder; and upon the execution and delivery of such supplemental indenture the resignation
or removal of the retiring Trustee shall become effective to the extent provided therein, such retiring Trustee shall with respect to
the Securities of that or those series to which the appointment of such successor trustee relates have no further responsibility for the
exercise of rights and powers or for the performance of the duties and obligations vested in the Trustee under this Indenture, and each
such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties
of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee relates;
but, on request of the Company or any successor trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor
trustee, to the extent contemplated by such supplemental indenture, the property and money held by such retiring Trustee hereunder with
respect to the Securities of that or those series to which the appointment of such successor trustee relates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;Upon request of any such successor trustee, the Company shall
execute any and all instruments for more fully and certainly vesting in and confirming to such successor trustee all such rights, powers
and trusts referred to in paragraph (a)&nbsp;or (b)&nbsp;of this Section, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;No successor trustee shall accept its appointment unless at
the time of such acceptance such successor trustee shall be qualified and eligible under this Article.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(e)&nbsp;Upon acceptance of appointment by a successor trustee as provided
in this Section, the Company shall transmit notice of the succession of such trustee hereunder by mail, first class postage prepaid, to
the Securityholders, as their names and addresses appear upon the Security Register. If the Company fails to transmit such notice within
ten days after acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to be transmitted at
the expense of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.12 <U>Merger, Conversion, Consolidation or Succession
to Business</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any corporation into which the Trustee may be merged or converted or
with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall
be a party, or any corporation succeeding to the corporate trust business of the Trustee, including the administration of the trust created
by this Indenture, shall be the successor of the Trustee hereunder, <I>provided</I> that such corporation shall be qualified under the
provisions of <U>Section&nbsp;7.08</U> and eligible under the provisions of <U>Section&nbsp;7.09</U>, without the execution or filing
of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. In case any
Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation
to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such
successor Trustee had itself authenticated such Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.13 <U>Preferential Collection of Claims Against the
Company</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Trustee shall comply with Section&nbsp;311(a)&nbsp;of the Trust
Indenture Act, excluding any creditor relationship described in Section&nbsp;311(b)&nbsp;of the Trust Indenture Act. A Trustee who has
resigned or been removed shall be subject to Section&nbsp;311(a)&nbsp;of the Trust Indenture Act to the extent included therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;7.14 <U>Notice of Default</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If any Event of Default occurs and is continuing and if such Event
of Default is actually known to a Responsible Officer of the Trustee, the Trustee shall send to each Securityholder in the manner and
to the extent provided in Section&nbsp;313(c)&nbsp;of the Trust Indenture Act notice of the Event of Default within the later of 90 days
after it occurs and 30 days after it is actually known to a Responsible Officer of the Trustee or written notice of it is received by
the Trustee, unless such Event of Default has been cured; <I>provided</I>, <I>however</I>, that, except in the case of a default in the
payment of the principal of (or premium, if any) or interest on any Security, the Trustee shall be protected in withholding such notice
if and so long as it in good faith determines that the withholding of such notice is in the interest of the Securityholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONCERNING THE SECURITYHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;8.01 <U>Evidence of Action by Securityholders</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Whenever in this Indenture it is <I>provided</I> that the holders of
a majority or specified percentage in aggregate principal amount of the Securities of a particular series may take any action (including
the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at
the time of taking any such action the holders of such majority or specified percentage of that series have joined therein may be evidenced
by any instrument or any number of instruments of similar tenor executed by such holders of Securities of that series in person or by
agent or proxy appointed in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the Company shall solicit from the Securityholders of any series
any request, demand, authorization, direction, notice, consent, waiver or other action, the Company may, at its option, as evidenced by
an Officer&rsquo;s Certificate, fix in advance a record date for such series for the determination of Securityholders entitled to give
such request, demand, authorization, direction, notice, consent, waiver or other action, but the Company shall have no obligation to do
so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other action may be given
before or after the record date, but only the Securityholders of record at the close of business on the record date shall be deemed to
be Securityholders for the purposes of determining whether Securityholders of the requisite proportion of Outstanding Securities of that
series have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other action,
and for that purpose the Outstanding Securities of that series shall be computed as of the record date; <I>provided</I>, <I>however</I>,
that no such authorization, agreement or consent by such Securityholders on the record date shall be deemed effective unless it shall
become effective pursuant to the provisions of this Indenture not later than six months after the record date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;8.02 <U>Proof of Execution by Securityholders</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Subject to the provisions of <U>Section&nbsp;7.01</U>, proof of the
execution of any instrument by a Securityholder (such proof will not require notarization) or his 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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;The fact and date of the execution by any such Person of any
instrument may be proved in any reasonable manner acceptable to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;The ownership of Securities shall be proved by the Security
Register of such Securities or by a certificate of the Security Registrar thereof. The Trustee may require such additional proof of any
matter referred to in this Section&nbsp;as it shall deem necessary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;8.03 <U>Who May&nbsp;be Deemed Owners</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Prior to the due presentment for registration of transfer of any Security,
the Company, the Trustee, any paying agent and any Security Registrar may deem and treat the Person in whose name such Security shall
be registered upon the books of the Security Registrar as the absolute owner of such Security (whether or not such Security shall be overdue
and notwithstanding any notice of ownership or writing thereon made by anyone other than the Security Registrar) for the purpose of receiving
payment of or on account of the principal of, premium, if any, and (subject to <U>Section&nbsp;2.03</U>) interest on such Security and
for all other purposes; and neither the Company nor the Trustee nor any paying agent nor any Security Registrar shall be affected by any
notice to the contrary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;8.04 <U>Certain Securities Owned by Company Disregarded</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In determining whether the holders of the requisite aggregate principal
amount of Securities of a particular series have concurred in any direction, consent, demand, authorization, notice or waiver under this
Indenture, the Securities of that series that are owned by the Company or any other obligor on the Securities of that series or by any
Person directly or indirectly controlling or controlled by or under common control with the Company or any other obligor on the Securities
of that series shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that for the purpose
of determining whether the Trustee shall be protected in relying on any such direction, consent or waiver, only Securities of such series
that a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. The Securities so owned that have been
pledged in good faith may be regarded as Outstanding for the purposes of this Section, if the pledgee shall establish to the satisfaction
of the Trustee the pledgee&rsquo;s right so to act with respect to such Securities and that the pledgee is not a Person directly or indirectly
controlling or controlled by or under direct or indirect common control with the Company or any such other obligor. In case of a dispute
as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;8.05 <U>Actions Binding on Future Securityholders</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At any time prior to (but not after) the evidencing to the Trustee,
as provided in <U>Section&nbsp;8.01</U>, of the taking of any action by the holders of the majority or percentage in aggregate principal
amount of the Securities of a particular series specified in this Indenture in connection with such action, any holder of a Security of
that series that is shown by the evidence to be included in the Securities the holders of which have consented to such action may, by
filing written notice with the Trustee, and upon proof of holding as provided in <U>Section&nbsp;8.02</U>, revoke such action so far as
concerns such Security. Except as aforesaid any such action taken by the holder of any Security shall be conclusive and binding upon such
holder and upon all future holders and owners of such Security, and of any Security issued in exchange therefor, on registration of transfer
thereof or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Security. Any action taken
by the holders of the majority or percentage in aggregate principal amount of the Securities of a particular series specified in this
Indenture in connection with such action shall be conclusively binding upon the Company, the Trustee and the holders of all the Securities
of that series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>ARTICLE&nbsp;9</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SUPPLEMENTAL INDENTURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;9.01 <U>Supplemental Indentures Without the Consent of
Securityholders</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition to any supplemental indenture otherwise authorized by this
Indenture, the Company and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto
(which shall conform to the provisions of the Trust Indenture Act as then in effect), without the consent of the Securityholders at any
time Outstanding, for one or more of the following purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;to cure any ambiguity, defect, or inconsistency herein or
in the Securities of any series;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;to comply with <U>Article&nbsp;10</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;to provide for uncertificated Securities in addition to or
in place of certificated Securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;to add to the covenants, restrictions, conditions or provisions
relating to the Company for the benefit of the holders of all or any series of Securities (and if such covenants, restrictions, conditions
or provisions are to be for the benefit of less than all series of Securities, stating that such covenants, restrictions, conditions or
provisions are expressly being included solely for the benefit of such series), to make the occurrence, or the occurrence and the continuance,
of a default in any such additional covenants, restrictions, conditions or provisions an Event of Default, or to surrender any right or
power herein conferred upon the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(e)&nbsp;to add to, delete from, or revise the conditions, limitations,
and restrictions on the authorized amount, terms, or purposes of issue, authentication, and delivery of Securities, as herein set forth;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(f)&nbsp;to make any change that does not adversely affect the rights
of any Securityholder in any material respect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(g)&nbsp;to provide for the issuance of and establish the form and
terms and conditions of the Securities of any series as provided in <U>Section&nbsp;2.01</U>, to establish the form of any certifications
required to be furnished pursuant to the terms of this Indenture or any series of Securities, or to add to the rights of the holders of
any series of Securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(h)&nbsp;to evidence and provide for the acceptance of appointment
hereunder by a successor trustee or to appoint a separate trustee with respect to any series; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(i)&nbsp;to comply with any requirements of the Commission or any successor
in connection with the qualification of this Indenture under the Trust Indenture Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Trustee is hereby authorized to join with the Company in the execution
of any such supplemental indenture, and to make any further appropriate agreements and stipulations that may be therein contained, but
the Trustee shall not be obligated to enter into any such supplemental indenture that affects the Trustee&rsquo;s own rights, duties or
immunities under this Indenture or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any supplemental indenture authorized by the provisions of this Section&nbsp;may
be executed by the Company and the Trustee without the consent of the holders of any of the Securities at the time Outstanding, notwithstanding
any of the provisions of <U>Section&nbsp;9.02</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;9.02 <U>Supplemental Indentures With Consent of Securityholders</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With the consent (evidenced as provided in <U>Section&nbsp;8.01</U>)
of the holders of not less than a majority in aggregate principal amount of the Securities of each series affected by such supplemental
indenture or indentures at the time Outstanding, the Company, when authorized by a Board Resolution, and the Trustee may from time to
time and at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture
Act as then in effect) for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this
Indenture or of any supplemental indenture or of modifying in any manner not covered by <U>Section&nbsp;9.01</U> the rights of the holders
of the Securities of such series under this Indenture; <I>provided</I>, <I>however</I>, that no such supplemental indenture shall, without
the consent of the holders of each Security then Outstanding and affected thereby, (a)&nbsp;extend the fixed maturity of any Securities
of any series, or reduce the principal amount thereof, or reduce the rate or extend the time of payment of interest thereon, or reduce
any premium payable upon the redemption thereof or (b)&nbsp;reduce the aforesaid percentage of Securities, the holders of which are required
to consent to any such supplemental indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">It shall not be necessary for the consent of the Securityholders of
any series affected thereby under this Section&nbsp;to approve the particular form of any proposed supplemental indenture, but it shall
be sufficient if such consent shall approve the substance thereof. The Trustee shall not be obligated to enter into any such supplemental
indenture that affects the Trustee&rsquo;s own rights, duties or immunities under this Indenture or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;9.03 <U>Effect of Supplemental Indentures</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Upon the execution of any supplemental indenture pursuant to the provisions
of this Article&nbsp;or of <U>Section&nbsp;10.01</U>, this Indenture shall, with respect to such series only, be and be deemed to be modified
and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture
of the Trustee, the Company and the holders of Securities of the series affected thereby shall thereafter be determined, exercised and
enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any such supplemental
indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes with respect to such
series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;9.04 <U>Securities Affected by Supplemental Indentures</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities of any series affected by a supplemental indenture, authenticated
and delivered after the execution of such supplemental indenture pursuant to the provisions of this Article&nbsp;or of <U>Section&nbsp;10.01</U>,
may bear a notation in form approved by the Company, provided such form meets the requirements of any securities exchange upon which such
series may be listed, as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities
of that series so modified as to conform, in the opinion of the Board of Directors, to any modification of this Indenture contained in
any such supplemental indenture may be prepared by the Company, authenticated by the Trustee and delivered in exchange for the Securities
of that series then Outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;9.05 <U>Execution of Supplemental Indentures</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Upon the request of the Company, accompanied by its Board Resolutions
authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent of Securityholders
required to consent thereto as aforesaid, the Trustee shall join with the Company in the execution of such supplemental indenture unless
such supplemental indenture affects the Trustee&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 such supplemental indenture. The Trustee shall receive an Officer&rsquo;s
Certificate and an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant to this Article&nbsp;is
authorized or permitted by the terms of this Article&nbsp;and that all conditions precedent to the execution of the supplemental indenture
have been complied with and with respect to such Opinion of Counsel, that such supplemental indenture is the legal, valid and binding
obligation of the Company, enforceable against each of them in accordance with its terms, subject to customary exceptions and qualifications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Promptly after the execution by the Company and the Trustee of any
supplemental indenture pursuant to the provisions of this Article, the Company shall transmit by electronic mail, or by first class mail,
postage prepaid, a notice, setting forth in general terms the substance of such supplemental indenture, to the Securityholders of all
series affected thereby as their names and addresses appear upon the Security Register. Any failure of the Company to mail, or cause the
mailing of, such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental
indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;10</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SUCCESSOR ENTITY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;10.01 <U>Company May&nbsp;Consolidate, Etc</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nothing contained in this Indenture shall prevent any consolidation
or merger of the Company with or into any other Person (whether or not affiliated with the Company) or successive consolidations or mergers
in which the Company or its successor or successors shall be a party or parties, or shall prevent any sale, conveyance, transfer or other
disposition of the property of the Company or its successor or successors as an entirety, or substantially as an entirety, to any other
corporation (whether or not affiliated with the Company or its successor or successors) authorized to acquire and operate the same; <I>provided</I>,
<I>however</I>, (a)&nbsp;the Company hereby covenants and agrees that, upon any such consolidation or merger (in each case, if the Company
is not the survivor of such transaction), sale, conveyance, transfer or other disposition, the due and punctual payment of the principal
of (premium, if any) and interest on all of the Securities of all series in accordance with the terms of each series, according to their
tenor, and the due and punctual performance and observance of all the covenants and conditions of this Indenture with respect to each
series or established with respect to such series pursuant to <U>Section&nbsp;2.01</U> to be kept or performed by the Company shall be
expressly assumed, by supplemental indenture (which shall conform to the provisions of the Trust Indenture Act, as then in effect) executed
and delivered to the Trustee by the entity formed by such consolidation, or into which the Company shall have been merged, or by the entity
which shall have acquired such property and (b)&nbsp;in the event that the Securities of any series then Outstanding are convertible into
or exchangeable for shares of common stock or other securities of the Company, such entity shall, by such supplemental indenture, make
provision so that the Securityholders of Securities of that series shall thereafter be entitled to receive upon conversion or exchange
of such Securities the number of securities or property to which a holder of the number of shares of common stock or other securities
of the Company deliverable upon conversion or exchange of those Securities would have been entitled had such conversion or exchange occurred
immediately prior to such consolidation, merger, sale, conveyance, transfer or other disposition. If the Company is not the surviving
entity of any such transaction, the Company or the continuing entity agrees to deliver to the Trustee an Officer&rsquo;s Certificate and
Opinion of Counsel stating that the transaction and the supplemental indenture complies with this Section&nbsp;10.01 and that all conditions
precedent herein relating to the transaction have been satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;10.02 <U>Successor Entity Substituted</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;In case of any such consolidation, merger, sale, conveyance,
transfer or other disposition and upon the assumption by the successor entity by supplemental indenture, executed and delivered to the
Trustee, of the obligations set forth under <U>Section&nbsp;10.01</U> on all of the Securities of all series Outstanding, such successor
entity shall succeed to and be substituted for the Company with the same effect as if it had been named as the Company herein, and thereupon
the predecessor corporation shall be relieved of all obligations and covenants under this Indenture and the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;In case of any such consolidation, merger, sale, conveyance,
transfer or other disposition, such changes in phraseology and form (but not in substance) may be made in the Securities thereafter to
be issued as may be appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;Nothing contained in this Article&nbsp;shall require any action
by the Company in the case of a consolidation or merger of any Person into the Company where the Company is the survivor of such transaction,
or the acquisition by the Company, by purchase or otherwise, of all or any part of the property of any other Person (whether or not affiliated
with the Company).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;11</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SATISFACTION AND DISCHARGE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;11.01 <U>Satisfaction and Discharge of Indenture</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If at any time: (a)&nbsp;the Company shall have delivered to the Trustee
for cancellation all Securities of a series theretofore authenticated and not delivered to the Trustee for cancellation (other than any
Securities that shall have been destroyed, lost or stolen and that shall have been replaced or paid as provided in <U>Section&nbsp;2.07</U>
and Securities for whose payment money or Governmental Obligations have theretofore been deposited in trust or segregated and held in
trust by the Company and thereupon repaid to the Company or discharged from such trust, as provided in <U>Section&nbsp;11.05</U>); or
(b)&nbsp;all such Securities of a particular series not theretofore delivered to the Trustee for cancellation shall have become due and
payable, or are by their terms to become due and payable within one year or are to be called for redemption within one year under arrangements
satisfactory to the Trustee for the giving of notice of redemption, and the Company shall deposit or cause to be deposited with the Trustee
as trust funds the entire amount in moneys or Governmental Obligations or a combination thereof, sufficient in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay at maturity
or upon redemption all Securities of that series not theretofore delivered to the Trustee for cancellation, including principal (and premium,
if any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and if the Company
shall also pay or cause to be paid all other sums payable hereunder with respect to such series by the Company then this Indenture shall
thereupon cease to be of further effect with respect to such series except for the provisions of <U>Sections 2.03</U>, <U>2.05</U>, <U>2.07</U>,
<U>4.01</U>, <U>4.02</U>, <U>4.03</U> and <U>7.10</U>, that shall survive until the date of maturity or redemption date, as the case may
be, and <U>Sections 7.06</U> and <U>11.05</U>, that shall survive to such date and thereafter, and the Trustee, on demand of the Company
and at the cost and expense of the Company shall execute such instruments reasonably requested by the Company acknowledging satisfaction
of and discharging this Indenture with respect to such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;11.02 <U>Discharge of Obligations</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If at any time all such Securities of a particular series not heretofore
delivered to the Trustee for cancellation or that have not become due and payable as described in <U>Section&nbsp;11.01</U> shall have
been paid by the Company by depositing irrevocably with the Trustee as trust funds moneys or an amount of Governmental Obligations sufficient
to pay at maturity or upon redemption all such Securities of that series not theretofore delivered to the Trustee for cancellation, including
principal (and premium, if any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may
be, and if the Company shall also pay or cause to be paid all other sums payable hereunder by the Company with respect to such series,
then after the date such moneys or Governmental Obligations, as the case may be, are deposited with the Trustee the obligations of the
Company under this Indenture with respect to such series shall cease to be of further effect except for the provisions of <U>Sections
2.03</U>, <U>2.05</U>, <U>2.07</U>, <U>4.01</U>, <U>4.02</U>, <U>4.03</U>, <U>7.06</U>, <U>7.10</U> and <U>11.05</U> hereof that shall
survive until such Securities shall mature and be paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Thereafter, <U>Sections 7.06</U> and <U>11.05</U> shall survive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;11.03 <U>Deposited Moneys to be Held in Trust</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All moneys or Governmental Obligations deposited with the Trustee pursuant
to Sections 11.01 or 11.02 shall be held in trust and shall be available for payment as due, either directly or through any paying agent
(including the Company acting as its own paying agent), to the holders of the particular series of Securities for the payment or redemption
of which such moneys or Governmental Obligations have been deposited with the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;11.04 <U>Payment of Moneys Held by Paying Agents</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with the satisfaction and discharge of this Indenture
all moneys or Governmental Obligations then held by any paying agent under the provisions of this Indenture shall, upon demand of the
Company, be paid to the Trustee and thereupon such paying agent shall be released from all further liability with respect to such moneys
or Governmental Obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;11.05 <U>Repayment to Company</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any moneys or Governmental Obligations deposited with any paying agent
or the Trustee, or then held by the Company, in trust for payment of principal of or premium, if any, or interest on the Securities of
a particular series that are not applied but remain unclaimed by the holders of such Securities for at least two years after the date
upon which the principal of (and premium, if any) or interest on such Securities shall have respectively become due and payable, or such
other shorter period set forth in applicable escheat or abandoned or unclaimed property law, shall be repaid to the Company on May&nbsp;31
of each year or upon the Company&rsquo;s request or (if then held by the Company) shall be discharged from such trust; and thereupon the
paying agent and the Trustee shall be released from all further liability with respect to such moneys or Governmental Obligations, and
the holder of any of the Securities entitled to receive such payment shall thereafter, as a general creditor, look only to the Company
for the payment thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;12</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AND DIRECTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;12.01 <U>No Recourse</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">No recourse under or upon any obligation, covenant or agreement of
this Indenture, or of any Security, or for any claim based thereon or otherwise in respect thereof, shall be had against any incorporator,
stockholder, officer or director, past, present or future as such, of the Company or of any predecessor or successor corporation, either
directly or through the Company or any such predecessor or successor corporation, whether by virtue of any constitution, statute or rule&nbsp;of
law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Indenture and the obligations
issued hereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred
by, the incorporators, stockholders, officers or directors as such, of the Company or of any predecessor or successor corporation, or
any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements
contained in this Indenture or in any of the Securities or implied therefrom; and that any and all such personal liability of every name
and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every
such incorporator, stockholder, officer or director as such, because of the creation of the indebtedness hereby authorized, or under or
by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom, are
hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issuance of
such Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;13</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MISCELLANEOUS PROVISIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.01 <U>Effect on Successors and Assigns</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All the covenants, stipulations, promises and agreements in this Indenture
made by or on behalf of the Company shall bind its successors and assigns, whether so expressed or not.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.02 <U>Actions by Successor</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any act or proceeding by any provision of this Indenture authorized
or required to be done or performed by any board, committee or officer of the Company shall and may be done and performed with like force
and effect by the corresponding board, committee or officer of any corporation that shall at the time be the lawful successor of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.03 <U>Surrender of Company Powers</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company by instrument in writing executed by authority of its Board
of Directors and delivered to the Trustee may surrender any of the powers reserved to the Company, and thereupon such power so surrendered
shall terminate both as to the Company and as to any successor corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.04 <U>Notices</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Except as otherwise expressly provided herein, any notice, request
or demand that by any provision of this Indenture is required or permitted to be given, made or served by the Trustee or by the holders
of Securities or by any other Person pursuant to this Indenture to or on the Company may be given or served by any standard form of telecommunication
or by being deposited in first class mail, postage prepaid, addressed (until another address is filed in writing by the Company with the
Trustee), as follows: Protagonist Therapeutics,&nbsp;Inc., 7707 Gateway Blvd., Suite&nbsp;140, Newark, CA 94560. Any notice, election,
request or demand by the Company or any Securityholder or by any other Person pursuant to this Indenture to or upon the Trustee shall
be deemed to have been sufficiently given or made, for all purposes, if given or made in writing at the Corporate Trust Office of the
Trustee. Notwithstanding anything herein to the contrary, where reference herein is made to notice of any event (including notice of redemption)
to a Securityholder of Global Securities, whether by mail or otherwise, such notice shall be sufficiently given when delivered to the
Depositary (or its designee) pursuant to the customary procedures of the Depositary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.05 <U>Governing Law; Jury Trial Waiver</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">THIS INDENTURE AND EACH SECURITY, AND ANY CLAIM, CONTROVERSY OR DISPUTE
ARISING UNDER OR RELATED TO THIS INDENTURE AND EACH SECURITY, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK (WITHOUT REGARD TO THE CONFLICTS OF LAWS PROVISIONS THEREOF). EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR
RELATING TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTION CONTEMPLATED HEREBY.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.06 <U>Treatment of Securities as Debt</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">It is intended that the Securities will be treated as indebtedness
and not as equity for federal income tax purposes. The provisions of this Indenture shall be interpreted to further this intention.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.07 <U>Certificates and Opinions as to Conditions Precedent</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;Upon any application or demand by the Company to the Trustee
to take any action under any of the provisions of this Indenture, the Company shall furnish to the Trustee an Officer&rsquo;s Certificate
stating that all covenants and conditions precedent provided for in this Indenture (other than the certificate to be delivered pursuant
to <U>Section&nbsp;13.12</U>) relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion
of such counsel all such covenants and conditions precedent have been complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;Each certificate or opinion provided for in this Indenture
and delivered to the Trustee with respect to compliance with a condition or covenant in this Indenture shall include (i)&nbsp;a statement
that the Person making such certificate or opinion has read such covenant or condition; (ii)&nbsp;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)&nbsp;a
statement that, in the opinion of such Person, he has made such examination or investigation as is reasonably necessary to enable him
to express an informed opinion as to whether or not such covenant or condition has been complied with; and (iv)&nbsp;a statement as to
whether or not, in the opinion of such Person, such condition or covenant has been complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.08 <U>Payments on Business Days</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Except as provided pursuant to <U>Section&nbsp;2.01</U> pursuant to
a Board Resolution, and set forth in an Officer&rsquo;s Certificate, or established in one or more indentures supplemental to this Indenture,
in any case where the date that principal of, interest and/or premium, if any, on any Security is due or otherwise payable shall not be
a Business Day or is a day on which the banking institutions in the city of the office of the Paying Agent are authorized or obligated
by law to close or be closed, then payment of principal, premium, if any, and/or interest may be made on the next succeeding day that
is a Business Day and is not a day on which the banking institutions in the city of the office of the Paying Agent are authorized or obligated
by law to close or be closed with the same force and effect as if made on the nominal date of maturity or redemption, and no interest
shall accrue for the period after such nominal date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.09 <U>Conflict with Trust Indenture Act</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If and to the extent that any provision of this Indenture limits, qualifies
or conflicts with the duties imposed by Sections 310 to 317, inclusive, of the Trust Indenture Act, such imposed duties shall control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.10 <U>Counterparts</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">This Indenture may be executed in any number of counterparts, each
of which shall be an original, but such counterparts shall together constitute but one and the same instrument. The exchange of copies
of this Indenture and of signature pages&nbsp;by facsimile or PDF transmission shall constitute effective execution and delivery of this
Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto
transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.11 <U>Separability</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In case any one or more of the provisions contained in this Indenture
or in the Securities of any series shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability shall not affect any other provisions of this Indenture or of such Securities, but this Indenture and such
Securities shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.12 <U>Compliance Certificates</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company shall deliver to the Trustee, within 120 days after the
end of each fiscal year during which any Securities of any series were outstanding, an Officer&rsquo;s Certificate stating whether or
not the signers know of any Event of Default that occurred during such fiscal year. Such certificate shall contain a certification from
the principal executive officer, principal financial officer or principal accounting officer of the Company that a review has been conducted
of the activities of the Company and the Company&rsquo;s performance under this Indenture and that the Company has complied with all conditions
and covenants under this Indenture. For purposes of this <U>Section&nbsp;13.12</U>, such compliance shall be determined without regard
to any period of grace or requirement of notice provided under this Indenture. If the officer of the Company signing such certificate
has knowledge of such an Event of Default, the certificate shall describe any such Event of Default and its status.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.13 <U>USA PATRIOT ACT</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The parties hereto acknowledge that in accordance with Section&nbsp;326
of the USA PATRIOT Act, the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering,
is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens
an account with the Trustee. The parties to this Indenture agree that they will provide the Trustee with such information as it may request
in order for the Trustee to satisfy the requirements of the USA PATRIOT Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;13.14 <U>Calculations</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">It is understood that the Trustee nor the Paying Agent shall have no
responsibility for any calculations hereunder and shall be entitled to conclusively rely on the calculations of the Company without any
independent verification or investigation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;14</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SUBORDINATION OF SECURITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section&nbsp;14.01 <U>Subordination Terms</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The payment by the Company of the principal of, premium, if any, and
interest on any series of Securities issued hereunder shall be subordinated to the extent set forth in an indenture supplemental hereto
relating to such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>IN WITNESS WHEREOF</B>, the parties hereto have caused this Indenture
to be duly executed all as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>PROTAGONIST THERAPEUTICS,&nbsp;INC.,</B> as Issuer</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; width: 5%">By:</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; width: 45%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Name:</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Title:</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt"><B>[TRUSTEE]</B>, as Trustee</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font-size: 10pt; width: 5%">By:</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.4pt; width: 45%">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font-size: 10pt">Name:</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.4pt">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font-size: 10pt">Title:</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.4pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>TRUST INDENTURE ACT CROSS-REFERENCE TABLE<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1</SUP></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; width: 82%"><B>Section&nbsp;of Trust Indenture Act of 1939, as
    amended</B></TD>
    <TD STYLE="width: 2%"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-size: 10pt; width: 16%"><B>Section&nbsp;of
    Indenture</B></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; font-size: 10pt">310(a)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">7.09</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; font-size: 10pt">310(b)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">7.08 <BR>
7.10</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; font-size: 10pt">310(c)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Inapplicable</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; font-size: 10pt">311(a)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">7.13</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; font-size: 10pt">311(b)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">7.13</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; font-size: 10pt">311(c)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Inapplicable</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; font-size: 10pt">312(a)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">5.01<BR>
 5.02(a)</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; font-size: 10pt">312(b)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">5.02(c)</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; font-size: 10pt">312(c)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">5.02(c)</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; font-size: 10pt">313(a)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">5.04(a)</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; font-size: 10pt">313(b)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">5.04(b)</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; font-size: 10pt">313(c)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">5.04(a)<BR>
 5.04(b)</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; font-size: 10pt">313(d)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">5.04(c)</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; font-size: 10pt">314(a)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">5.03 <BR>
13.12</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; font-size: 10pt">314(b)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Inapplicable</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; font-size: 10pt">314(c)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">13.07(a)</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; font-size: 10pt">314(d)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Inapplicable</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; font-size: 10pt">314(e)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">13.07(b)</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; font-size: 10pt">314(f)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Inapplicable</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; font-size: 10pt">315(a)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">7.01(a) <BR>
7.01(b)</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; font-size: 10pt">315(b)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">7.14</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; font-size: 10pt">315(c)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">7.01(a)</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; font-size: 10pt">315(d)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">7.01(b)</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; font-size: 10pt">315(e)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">6.07</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; font-size: 10pt">316(a)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">6.06<BR>
 8.04</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; font-size: 10pt">316(b)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">6.04</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; font-size: 10pt">316(c)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">8.01</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; font-size: 10pt">317(a)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">6.02</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; font-size: 10pt">317(b)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">4.03</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; font-size: 10pt">318(a)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">0</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>












<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1
</SUP></FONT>This Cross-Reference Table does not constitute part of the Indenture and shall not have any bearing on the interpretation
of any of its terms or provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>5
<FILENAME>tm2222499d2_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 5.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 80%"><IMG SRC="tm2222499d2_ex5-1img001.jpg" ALT=""></TD><TD STYLE="text-align: justify; width: 20%"><IMG SRC="tm2222499d2_ex5-1img002.jpg" ALT=""></TD>
</TR></TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">August&nbsp;5, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Protagonist Therapeutics,&nbsp;Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">7707 Gateway Blvd, Suite&nbsp;140</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Newark, CA 94560</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in">Re:</TD><TD>Protagonist Therapeutics,&nbsp;Inc.<BR>
Registration Statement on Form&nbsp;S-3</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have acted as counsel to Protagonist Therapeutics,&nbsp;Inc., a
Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), in connection with the preparation and filing with the Securities and Exchange
Commission (the &ldquo;<U>Commission</U>&rdquo;) of a Registration Statement on Form&nbsp;S-3 (the &ldquo;<U>Registration Statement</U>&rdquo;)
under the Securities Act of 1933, as amended (the &ldquo;<U>Securities Act</U>&rdquo;), relating to the registration under the Securities
Act and the proposed issuance and sale from time to time pursuant to Rule&nbsp;415 under the Securities Act, together or separately and
in one or more series (if applicable) of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(i)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Company&rsquo;s debt securities (the &ldquo;<U>Debt Securities</U>&rdquo;);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(ii)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">shares
of the Company&rsquo;s common stock, par value $0.00001 per share (the &ldquo;<U>Common Stock</U>&rdquo;);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iii)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">shares
of the Company&rsquo;s preferred stock, par value $0.00001 per share (the &ldquo;<U>Preferred Stock</U>&rdquo;);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iv)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">warrants
for the purchase of Debt Securities, Common Stock, and Preferred Stock (the &ldquo;<U>Warrants</U>&rdquo;); and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(v)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">units
of the Company comprised of any combination of Debt Securities, Common Stock, Preferred Stock, and Warrants (the &ldquo;<U>Units</U>&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Debt Securities, Common Stock, Preferred Stock,
Warrants, and Units are collectively referred to herein as the &ldquo;<U>Securities</U>.&rdquo; The Debt Securities are to be issued under
a senior or subordinated indenture substantially in the forms attached to the Registration Statement, as applicable (collectively, the
 &ldquo;<U>Base Indenture</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In arriving at the opinions expressed below, we have examined originals,
or copies certified or otherwise identified to our satisfaction as being true and complete copies of the originals, of forms of the Base
Indenture, forms of the Debt Securities, specimen Common Stock certificates, and such other documents, corporate records, certificates
of officers of the Company and of public officials and other instruments as we have deemed necessary or advisable to enable us to render
these opinions. In our examination, we have assumed the genuineness of all signatures, the legal capacity and competency of all natural
persons, the authenticity of all documents submitted to us as originals and the conformity to original documents of all documents submitted
to us as copies. As to any facts material to these opinions, we have relied to the extent we deemed appropriate and without independent
investigation upon statements and representations of officers and other representatives of the Company and others.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 80%"><IMG SRC="tm2222499d2_ex5-1img001.jpg" ALT=""></TD><TD STYLE="text-align: justify; width: 20%"><IMG SRC="tm2222499d2_ex5-1img002.jpg" ALT=""></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have assumed without independent investigation that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(i)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">at
the time any Securities are sold pursuant to the Registration Statement (the &ldquo;<U>Relevant Time</U>&rdquo;), the Registration Statement
and any supplements and amendments thereto (including post-effective amendments) will be effective and will comply with all applicable
laws;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(ii)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">at
the Relevant Time, a prospectus supplement will have been prepared and filed with the Commission describing the Securities offered thereby
and all related documentation and will comply with all applicable laws;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iii)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">all
Securities will be issued and sold in the manner stated in the Registration Statement and the applicable prospectus supplement;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iv)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">at
the Relevant Time, all corporate or other action required to be taken by the Company to duly authorize each proposed issuance of Securities
and any related documentation (including (i)&nbsp;the due reservation of any shares of Common Stock or Preferred Stock for issuance upon
exercise, conversion or exchange of any Securities for Common Stock or Preferred Stock (a &ldquo;<U>Convertible Security</U>&rdquo;),
and (ii)&nbsp;the execution (in the case of certificated Securities), delivery and performance of the Securities and any related documentation
referred to in paragraphs 1 through 5 below) shall have been duly completed and shall remain in full force and effect;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(v)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">upon
issuance of any Common Stock or Preferred Stock, including upon exercise, conversion or exchange of any Convertible Security, the total
number of shares of Common Stock or Preferred Stock issued and outstanding will not exceed the total number of shares of Common Stock
or Preferred Stock, as applicable, that the Company is then authorized to issue under its certificate of incorporation and other relevant
documents;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(vi)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">in
the case of Debt Securities, at the Relevant Time, the relevant trustee shall have been qualified under the Trust Indenture Act of 1939,
as amended (the &ldquo;<U>TIA</U>&rdquo;), a Statement of Eligibility of the Trustee on Form&nbsp;T-1 shall have been properly filed with
the Commission and the relevant Base Indenture shall have been duly executed and delivered by the Company and all other parties thereto
and duly qualified under the TIA;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(vii)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">at
the Relevant Time, a definitive purchase, underwriting or similar agreement and any other necessary agreement with respect to any Securities
offered or issued will have been duly authorized by all necessary corporate or other action of the Company duly executed and delivered
by the Company or any Trust and the other parties thereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 80%"><IMG SRC="tm2222499d2_ex5-1img001.jpg" ALT=""></TD><TD STYLE="text-align: justify; width: 20%"><IMG SRC="tm2222499d2_ex5-1img002.jpg" ALT=""></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Based on the foregoing and in reliance thereon, and subject to the
assumptions, exceptions, qualifications and limitations set forth herein, we are of the opinion that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.8in"><FONT STYLE="font-size: 10pt">1.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">With
respect to any Debt Securities when:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">a.</TD><TD>the terms and conditions of such Debt Securities have been duly established by supplemental indenture or officers&rsquo; certificate
in accordance with the terms and conditions of the relevant Base Indenture,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">b.</TD><TD>any such supplemental indenture has been duly executed and delivered by the Company and the relevant trustee (together with the relevant
Base Indenture, the &ldquo;<U>Indenture</U>&rdquo;), and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">c.</TD><TD>such Debt Securities have been executed (in the case of certificated Debt Securities), delivered and authenticated in accordance with
the terms of the applicable Indenture and issued and sold for the consideration set forth in the applicable definitive purchase, underwriting
or similar agreement,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: 0.5in">such Debt Securities will be legal,
valid and binding obligations of the Company, enforceable against the Company in accordance with their respective terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.8in"><FONT STYLE="font-size: 10pt">2.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">With
respect to any shares of Preferred Stock, when:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">a.</TD><TD>the certificate of designations relating to such Preferred Stock (the &ldquo;<U>Certificate of Designations</U>&rdquo;) has been duly
executed and filed with the Office of the Secretary of State of the State of Delaware,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">b.</TD><TD>such shares have been issued either (i)&nbsp;in accordance with the applicable definitive purchase, underwriting or similar agreement
and for the consideration therefor provided for therein or (ii)&nbsp;upon exercise, conversion or exchange of any Convertible Security
and for any additional consideration specified in such Convertible Security or the instrument governing such Convertible Security providing
for such conversion or exercise, which consideration (including any consideration paid for such Convertible Security), on a per-share
basis, shall in either event not be less than the par value of the Preferred Stock, and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 80%"><IMG SRC="tm2222499d2_ex5-1img001.jpg" ALT=""></TD><TD STYLE="text-align: justify; width: 20%"><IMG SRC="tm2222499d2_ex5-1img002.jpg" ALT=""></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">c.</TD><TD>any such Convertible Security was previously validly issued and is fully paid an non-assessable (in the case of an equity Security)
or is a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: 0.5in">such shares of Preferred Stock will
be validly issued, fully paid, and non-assessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.8in"><FONT STYLE="font-size: 10pt">3.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">With
respect to shares of Common Stock, when:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">a.</TD><TD>such shares of Common Stock have been duly executed (in the case of certificated shares) and delivered either (i)&nbsp;in accordance
with the applicable definitive purchase, underwriting or similar agreement for the consideration provided for therein, or (ii)&nbsp;upon
conversion or exercise of any Convertible Security, in accordance with the terms of such Convertible Security or the instrument governing
such Convertible Security providing for such conversion or exercise, and for any additional consideration specified therein, which consideration
(including any consideration paid for such Convertible Security), on a per-share basis, shall in either event not be less than the par
value of the Common Stock, and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">b.</TD><TD>any such Convertible Security was previously validly issued and is fully paid and non-assessable (in the case of an equity Security)
or is a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: 0.5in">such shares of Common Stock will be
validly issued, fully paid and non-assessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.8in"><FONT STYLE="font-size: 10pt">4.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">With
respect to any Warrants, when:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">a.</TD><TD>the warrant agreement relating to such Warrants (the &ldquo;<U>Warrant Agreement</U>&rdquo;), if any, has been duly executed and delivered
by the Company and each other party thereto,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">b.</TD><TD>the terms of the Warrants have been established in accordance with the Warrant Agreement, if any, and the applicable definitive purchase,
underwriting or similar agreement, and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">c.</TD><TD>the Warrants have been duly executed (in the case of certificated Warrants) and delivered in accordance with the Warrant Agreement,
if any, and the applicable definitive purchase, underwriting or similar agreement for the consideration provided for therein,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 80%"><IMG SRC="tm2222499d2_ex5-1img001.jpg" ALT=""></TD><TD STYLE="text-align: justify; width: 20%"><IMG SRC="tm2222499d2_ex5-1img002.jpg" ALT=""></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: 0.5in">such Warrants will be legal, valid and
binding obligations of the Company, enforceable against the Company in accordance with their terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.8in"><FONT STYLE="font-size: 10pt">5.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">With
respect to any Units, when:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">a.</TD><TD>the unit agreement relating to the Units (the &ldquo;<U>Unit Agreement</U>&rdquo;), if any, has been duly executed and delivered by
the Company and each other party thereto,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">b.</TD><TD>the terms of the Units have been duly established in accordance with the Unit Agreement, if any, and the applicable definitive purchase,
underwriting or similar agreement, and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">c.</TD><TD>the Units have been duly executed (in the case of certificated Units) and delivered in accordance with the Unit Agreement, if any,
and the applicable definitive purchase, underwriting or similar agreement for the consideration provided for therein,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: 0.5in">the Units will be legal, valid and binding
obligations of the Company, enforceable against the Company in accordance with their terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The opinions expressed above are subject to the following exceptions,
qualifications, limitations, and assumptions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">A.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">We
render no opinion herein as to matters involving the laws of any jurisdiction other than the State of New York and the United States of
America and, for purposes of paragraphs 2 and 3 above, the Delaware General Corporation Law. We are not admitted to practice in the State
of Delaware; however, we are generally familiar with the Delaware General Corporation Law as currently in effect and have made such inquiries
as we consider necessary to render the opinions contained in paragraphs 2 and 3 above. This opinion is limited to the effect of the current
state of the laws of the State of New York, the United States of America and, to the limited extent set forth above, the laws of the State
of Delaware and the facts as they currently exist. We assume no obligation to revise or supplement this opinion in the event of future
changes in such laws or the interpretations thereof or such facts.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">B.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
opinions above with respect to the Indenture, the Debt Securities, the Warrants, the Warrant Agreement, the Units and the Unit Agreement
(collectively, the &ldquo;<U>Documents</U>&rdquo;) are each subject to (i)&nbsp;the effect of any bankruptcy, insolvency, reorganization,
moratorium, arrangement or similar laws affecting the rights and remedies of creditors&rsquo; generally, including without limitation
the effect of statutory or other laws regarding fraudulent transfers or preferential transfers, and (ii)&nbsp;general principles of equity,
including without limitation concepts of materiality, reasonableness, good faith and fair dealing and the possible unavailability of specific
performance, injunctive relief or other equitable remedies regardless of whether enforceability is considered in a proceeding in equity
or at law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 80%"><IMG SRC="tm2222499d2_ex5-1img001.jpg" ALT=""></TD><TD STYLE="text-align: justify; width: 20%"><IMG SRC="tm2222499d2_ex5-1img002.jpg" ALT=""></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">C.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">We
express no opinion regarding the effectiveness of (i)&nbsp;any waiver of stay, extension or usury laws, (ii)&nbsp;provisions relating
to indemnification, exculpation, or contribution, to the extent such provisions may be held unenforceable as contrary to public policy
or federal or state securities laws, (iii)&nbsp;any provision in any Document waiving the right to object to venue in any court, (iv)&nbsp;any
agreement to submit to the jurisdiction of any Federal court or (vi)&nbsp;any waiver of the right to jury trial.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">D.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">To
the extent relevant to our opinions in paragraphs 4 and 5 and not covered by our opinions in paragraphs 1, 2, and 3, we have assumed that
any securities underlying, comprising, or issuable upon exchange, conversion, or exercise of any Warrants or Units are validly issued,
fully paid and non-assessable (in the case of an equity Security) or a legal, valid and binding obligation of the issuer thereof, enforceable
against such issuer in accordance with its terms.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">You have informed us that you intend to issue Securities from time
to time on a delayed or continuous basis, and we understand that prior to issuing any Securities pursuant to the Registration Statement
(i)&nbsp;you will advise us in writing of the terms thereof, and (ii)&nbsp;you will afford us an opportunity to (x)&nbsp;review the operative
documents pursuant to which such Securities are to be issued or sold (including the applicable offering documents), and (y)&nbsp;file
such supplement or amendment to this opinion (if any) as we may reasonably consider necessary or appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We consent to the filing of this opinion as an exhibit to the Registration
Statement, and we further consent to the use of our name under the caption &ldquo;Legal Matters&rdquo; in the Registration Statement and
the prospectus that forms a part thereof. In giving these consents, we do not thereby admit that we are within the category of persons
whose consent is required under Section&nbsp;7 of the Securities Act or the rules&nbsp;and regulations of the Commission promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Very truly yours,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ GIBSON, DUNN&nbsp;&amp; CRUTCHER LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-5.2
<SEQUENCE>6
<FILENAME>tm2222499d2_ex5-2.htm
<DESCRIPTION>EXHIBIT 5.2
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 5.2</B></P>

<P STYLE="margin: 0">&nbsp;</P>

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<TD STYLE="width: 80%"><IMG SRC="tm2222499d2_ex5-2img001.jpg" ALT=""></TD><TD STYLE="width: 20%; text-align: left"><IMG SRC="tm2222499d2_ex5-2img002.jpg" ALT=""></TD>
</TR></TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">August&nbsp;5, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Protagonist Therapeutics,&nbsp;Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">7707 Gateway Blvd, Suite&nbsp;140</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Newark, CA 94560</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">Re:</TD><TD><I>Protagonist Therapeutics,&nbsp;Inc.<BR>
</I><I>Registration Statement on Form&nbsp;S-3</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">We have examined the Registration Statement on
Form&nbsp;S-3 (the &ldquo;Registration Statement&rdquo;), of Protagonist Therapeutics,&nbsp;Inc., a Delaware corporation (the &ldquo;Company&rdquo;),
to be filed with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) pursuant to the Securities Act of 1933, as amended
(the &ldquo;Securities Act&rdquo;), and the prospectus supplement thereto dated August&nbsp;5, 2022 (the &ldquo;Prospectus Supplement&rdquo;),
in connection with the offering by the Company of up to $100,000,000 of the Company&rsquo;s common stock, par value $0.00001 per share
(the &ldquo;Shares&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">In arriving at the opinion expressed below, we
have examined originals, or copies certified or otherwise identified to our satisfaction as being true and complete copies of the originals,
of specimen Common Stock certificates and such other documents, corporate records, certificates of officers of the Company and of public
officials and other instruments as we have deemed necessary or advisable to enable us to render the opinions set forth below. In our examination,
we have assumed without independent investigation the genuineness of all signatures, the legal capacity and competency of all natural
persons, the authenticity of all documents submitted to us as originals and the conformity to original documents of all documents submitted
to us as copies. We have further assumed that all offers and sales of the Shares will comply with the minimum offering price and pricing
formula set forth in the authorization of the offering and sale of the Shares by the Company&rsquo;s Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Based upon the foregoing, and subject to the assumptions,
exceptions, qualifications and limitations set forth herein, we are of the opinion that the Shares, when issued against payment therefor
as set forth in the Registration Statement and the Prospectus Supplement thereto, will be validly issued, fully paid and non-assessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">We consent to the filing of this opinion as an
exhibit to the Registration Statement, and we further consent to the use of our name under the caption &ldquo;Legal Matters&rdquo; in
the Registration Statement and the Prospectus Supplement. In giving these consents, we do not thereby admit that we are within the category
of persons whose consent is required under Section&nbsp;7 of the Securities Act or the Rules&nbsp;and Regulations of the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Very truly yours,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Gibson, Dunn&nbsp;&amp; Crutcher LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>7
<FILENAME>tm2222499d2_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit 23.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>Consent of Ernst &amp;
Young LLP, Independent Registered Public Accounting Firm</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
consent to the reference to our firm under the caption &quot;Experts&quot; in this Registration Statement (Form S-3) and related base
prospectus and sales agreement prospectus supplement of Protagonist Therapeutics, Inc. for the registration of shares of its </FONT>common
stock, preferred stock, debt securities, warrants and/or units, and to the incorporation by reference therein of our reports dated February
28, 2022, with respect to the consolidated financial statements of Protagonist Therapeutics, Inc., and the effectiveness of internal control
over financial reporting of Protagonist Therapeutics, Inc., included in its Annual Report (Form 10-K) for the year ended December 31,
2021, filed with the Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Ernst &amp; Young LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">August 5, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">San Mateo, California</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>8
<FILENAME>tm2222499d2_ex23-2.htm
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 23.2</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">We hereby consent to the incorporation
by reference in this Registration Statement on Form&nbsp;S-3</FONT> of Protagonist Therapeutics,&nbsp;Inc. of our report dated March&nbsp;10,
2020 relating to the financial statements, which appears in Protagonist Therapeutics,&nbsp;Inc.&rsquo;s Annual Report on Form&nbsp;10-K
for the year ended December&nbsp;31, 2019. 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">/s/ PricewaterhouseCoopers LLP<BR>
</FONT>San Jose, California</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">August&nbsp;5, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>9
<FILENAME>tm2222499d2_exfilingfees.htm
<DESCRIPTION>EX-FILING FEES
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><B>Exhibit 107 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Calculation of Filing Fee Tables</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form S-3 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Form Type)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Protagonist Therapeutics, Inc. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Table 1: Newly Registered and Carry Forward
Securities </B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-left: 8.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: black 1pt solid; padding-left: 8.4pt">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Security Type</B></FONT></TD>
    <TD STYLE="border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Security Class Title</B></FONT></TD>
    <TD STYLE="border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Fee<BR>
Calculation<BR>
or Carry<BR>
Forward<BR>
Rule</B></FONT></TD>
    <TD STYLE="border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amount<BR>
Registered</B></FONT></TD>
    <TD STYLE="border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proposed<BR>
Maximum<BR>
Offering<BR>
Price Per<BR>
Unit</B></FONT></TD>
    <TD STYLE="border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Maximum<BR>
Aggregate<BR>
Offering Price</B></FONT></TD>
    <TD STYLE="border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Fee Rate</B></FONT></TD>
    <TD STYLE="border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amount of<BR>
Registration<BR>
Fee</B></FONT></TD>
    <TD STYLE="border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Carry<BR>
Forward<BR>
Form<BR>
Type</B></FONT></TD>
    <TD STYLE="border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Carry<BR>
Forward<BR>
File<BR>
Number</B></FONT></TD>
    <TD STYLE="border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Carry<BR>
Forward<BR>
Initial<BR>
effective<BR>
date</B></FONT></TD>
    <TD STYLE="border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 2.4pt; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT 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></FONT></TD></TR>
  <TR>
    <TD COLSPAN="25" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; padding-left: 8.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="25" STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 2.4pt; padding-bottom: 1.25pt; padding-left: 8.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Newly Registered Securities</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-left: 8.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="4" STYLE="border-left: black 1pt solid; vertical-align: top; padding-left: 8.4pt">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equity</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common stock, $0.00001 par value per share</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rule 457(o) </FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; vertical-align: bottom; padding-right: 2.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equity</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preferred stock, $0.00001 par value per share</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rule 457(o) </FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 2.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Debt</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Debt Securities</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rule 457(o) </FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 2.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warrants</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rule 457(o) </FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 2.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-left: 8.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: black 1pt solid; vertical-align: top; padding-left: 8.4pt">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Units</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rule 457(o) </FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; vertical-align: bottom; padding-right: 2.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-left: 8.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: black 1pt solid; vertical-align: top; padding-left: 8.4pt">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unallocated<BR>
(Universal) Shelf </FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rule 457(o) </FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$300,000,000</B></FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.0000927</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$27,810.00</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; vertical-align: bottom; padding-right: 2.4pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="25" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; padding-left: 8.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="25" STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 2.4pt; padding-bottom: 1.25pt; padding-left: 8.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Carry Forward Securities</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-left: 8.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: black 1pt solid; vertical-align: top; padding-bottom: 1.25pt; padding-left: 8.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Carry<BR>
Forward<BR>
Securities</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; vertical-align: bottom; padding-right: 2.4pt; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-left: 8.4pt">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: black 1pt solid; vertical-align: top; padding-left: 8.4pt">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total Offering Amounts</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; vertical-align: bottom; padding-right: 2.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-left: 8.4pt">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: black 1pt solid; vertical-align: top; padding-left: 8.4pt">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total Fees Previously Paid</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; vertical-align: bottom; padding-right: 2.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-left: 8.4pt">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: black 1pt solid; vertical-align: top; padding-left: 8.4pt">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total Fee Offsets</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; vertical-align: bottom; padding-right: 2.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-left: 8.4pt">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; border-left: black 1pt solid; padding-left: 8.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-bottom: 1.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net Fee Due</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-bottom: 1.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 2.4pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The amount to be registered consists of up to $300,000,000 of an indeterminate amount of common stock, preferred stock, debt securities, warrants and/or units. There is also being registered hereunder such currently indeterminate number of (i) shares of common stock or other securities of the registrant as may be issued upon conversion of, or in exchange for, convertible or exchangeable debt securities and/or preferred stock registered hereby, or (ii) shares of preferred stock, common stock, debt securities or units as may be issued upon exercise of warrants registered hereby, as the case may be. Any securities registered hereunder may be sold separately or as units with the other securities registered hereunder. </FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The proposed maximum aggregate offering price per unit will be determined from time to time by the registrant in connection with the issuance by the registrant of the securities registered hereunder and is not specified as to each class of security pursuant to General Instruction II.D. of Form S-3 under the Securities Act. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Estimated solely for purposes of computing the registration fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended. In no event will the aggregate offering price of all securities sold by the registrant from time to time pursuant to this registration statement exceed $300,000,000. No separate consideration will be received for (i) common stock or other securities of the registrant that may be issued upon conversion of, or in exchange for, convertible or exchangeable debt securities and/or preferred stock registered hereby, or (ii) preferred stock, common stock, debt securities or units that may be issued upon exercise of warrants registered hereby, as the case may be. </FONT></TD></TR>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
